Do your due diligence when selecting a tenant.
I was recently asked “when a person applies to rent how do I know the person they have provided as a reference as the employer is really their supervisor?”
This is the dilemma when reviewing tenant applications. Owners and property managers need to read between the lines and research the information on the application to provide you with confidence that the applicants are good tenants. One should never take for granted the information provided is accurate, it is the Landlord or property managers role to investigate the accuracy of the information.
The first step is to have a quality application form which asks for enough information about the applicants providing you the opportunity to research the tenants. I have seen applications that ask for a phone number of the employer without asking for the company name, address and supervisors position. By asking for the additional information one can research the company first to see that the applicant is providing a legitimate company, and supervisor. Many companies identify employees on their websites. An owner or property manager can research the company before calling to speak with the employer. Many applicants provide a direct number or cell number to their supervisor which may or may not be their employer. I always research the company and call the main phone number to confirm the supervisor identified on the application is an employee, and the supervisor of the applicant. Performing this small action first sometimes leads to identifying inaccurate information.
The same can be performed when it comes to a previous address of where the applicants lived. It is imperative to use online resources to confirm the address is a residential address where a person would have resided. Recently I reviewed an application where the applicants provided an address which appeared to be a rental apartment building. When I called the Landlord on the application they indicated he would need to call me back on his lunch our. I found this to be odd, if it was a rental building he would be the onsite manager or property manager, why does he need to wait for lunch break to call me back. The landlord indicated he worked not at the building or for a property management company and that the building was a strata building. Research through Landtitles office confirmed it was not a strata building meaning the applicants were providing false information. Performing these tasks is important to ensure you are selecting quality tenants.
These are small details and don’t take significant time, but when not performed can result in significant issues for Landlords and property managers. Selecting tenants who have provided false information can result in a very negative tenancy. After the tenant has occupied your property it may take significant time to have them removed for unpaid rent or other issues. Take the time to do your due diligence especially in times like today where it is a tenant favourable market.
Renting your property can be confusing. Cartref Properties can assist you, call today to discuss your needs or find more information about us at: www.cartrefproperties.com
