Things are looking good for Calgary landlords in 2014 but be careful of bad tenants and scams
Happy new year to all landlords in Calgary.
For most of us 2013 was a good year and things are looking even better in 2014.
We will at the Calgary landlords blog will continue to provide news, advice and tips to help you and your rental business succeed.
There are lots of opportunities for landlords in our city in this new year.
After all, we can raise the rent whatever we want to in 2014.
Ontario landlords are stuck at raising the rent only 0.8 percent in 2014. Yes, it’s that low. Crazy!
British Columbia landlords can only raise the rent 2.2 percent.
There are also some challenges that smart landlords and tenants should be aware of.
These things never seem to end.
According to a report on Global News the very tight rental market in Calgary has led to even more rental scams and fake landlords trying to grab some ‘rent’ money from tenants.
For example, tenant Nicole Fish was looking at a rental ad website and saw a place you liked at a terrific price.
After emailing the landlord about her interest, she received a reply that made her very suspicious.
The “landlord” said he was in the United States doing missionary work and needed a deposit of $700 sent to him and then he would send her the keys to the rental unit.
Fish said this was a huge red flag for her because she hadn’t even seen the rental apartment yet.
When she finally went there she found the apartment wasn’t even for rent.
A bit more searching and she found over 12 rental ads online by the same fake landlord.
These scams make good tenants wary of all landlords, including all the good landlords out there.
We would like to warn tenants to be careful if you see any of the following:
1. The rent for the property is far lower than comparable rental properties in the area.
2. Good landlords want to meet you. If they don’t want to meet you in person beware.
3. Most good landlords live in Alberta. There is no need to wire money to another country.
4. Good landlords are careful to write great rental ads! Grammar and spelling mistakes are a red flag.
Calgary landlords should also be aware that amongst all the good tenants out there some bad tenants also exist … and they really want to rent from you!
We saw a lot of examples of bad tenants in 2013.
And boy oh boy did they cause a lot of stress for their landlords and a great financial loss.
For example take a look at some of the stories at the Alberta Landlords site.
Success for failure rests on renting to good tenants.
The new year looks great for Alberta landlords and make sure you are part of the wave of success!
Make sure you do tenant credit checks and tenant criminal checks to ensure you find great tenants.