There are Lots of Great Tenants Out There, Calgary Landlords Make Sure You Find Them!
It’s been a great start to 2014 for Calgary landlords.
We were just voted the best large city to live in by Moneysense magazine.
House prices continue to rise with Calgary leading the nation.
According to the Calgary Sun re-sales are up 15% over a year ago.
Many Alberta landlords are moving forward and investing in rental properties.
What is driving this growth?
A key factor is the almost record breaking number of net migration to Alberta.
This has resulted in a Calgary vacancy rate of about 1% and rents that can nearly equal what someone would pay for a monthly mortgage payment.
More and more people are coming to our city to create families, work hard, and develop roots.
These are people who want to find good places to rent while they work to save up for their own down payment to buy a house themselves.
These facts have lots of Alberta Landlords excited for 2014 (and buying more rental properties if they can find them!)
Don’t Let Your Guard Down
Things are exciting and it can be easy to let your guard down.
We mean let your guard down by not conducting thorough tenant screening on your new tenants.
Don’t forget amongst all the great tenants out there a bunch of bad apples also exist.
And these bad apples are clever and aggressive.
They want to get into your rental property and cheat you out of months of rent and even thousands of dollars in clean up costs and damages.
Many Calgary landlords who rented to bad tenants believe the dispute resolution system is unfair to landlords.
According to this CBC report a Calgary landlord feels cheated…and the judge agrees with her!
It really must-see reading for all Alberta Landlords.
The Alberta Landlords Association offers amazing tenant screening services for affordable fee.
For only $10 you can do an Equifax landlord credit check to see if your tenant pays their bills on time.
And for only $12 / check you can utilize the power of GARDA Background Screening to see a comprehensive picture of your potential tenant’s financial background, including:
1. Do they pay their bills on time (including rent)?
2. Do they owe anyone money?
3. Do they have any collections agencies chasing them for non-payment?
4. Do they work where they say they work?
5. Do they have any bankruptcies to avoid paying what they owe?
It’s an amazing system at a very low price.
If your rental property is work hundreds of thousands of dollars don’t you think paying $10 to protect your property is a great deal?
Calgary Landlords Success
Things are looking great for us in 2014.
We don’t face the same issues British Columbia landlords face.
And we don’t have an unfair system that other cities such as Toronto landlords have to deal with.
However, our advice is to still be very careful and make sure you rent to great Calgary tenants!
There is an excellent review of the Alberta Landlords Association here at Alberta Landlords Success.
Go see what you get…it’s the deal of the century for landlords.