With lots of tenants to choose from, how can Calgary landlords make sure you rent to the right tenants?
Experienced Calgary landlords know that renting to good tenants is one the most important elements of being a successful landlord.
There are many reasons why people become residential landlords.
1. For some people, it’s a way to make cash-flow every month
2. Landlords see properties appreciating and rent out while prices rise
3. Owners want to rent out part of their house to cover their mortgage
4. Investment property is a great way to prepare for retirement
Whatever your reason for invest your chances for success are a lot easier if you find good tenants and avoid the ‘professional tenants’ out there.
Being a Landlord in Calgary
It’s a good time to be a Calgary landlord because the economy is good and there are lots of good tenants out there.
According to the National Post the rental market in Calgary has a vacancy rate of about 1%.
This means the 33,400 people who are expected to come to Calgary this year will be looking for rental accommodations
How Can You Make Sure You Rent to Good Tenants?
When you put up an ad to rent out your unit, many landlords will get lots of replies.
This leads to a bunch of questions such as:
1. How Do I Choose Who To Rent To?
2. How Can I Check If The Applicants Will Be Good Tenants?
3. How Do I Check Tenants From Outside Alberta?
This last question came up on the Alberta Landlords Forum from a new Alberta landlord looking for success in renting to his first tenants.
His question was:
“I’m a new landlord. Since advertising I’ve been getting a lot of calls from people who have moved from Ontario.
Some have been here a year. Most less than a year.”
“How do people check references?
Is It Reasonable to call former jobs and former landlords in Ontario?
Or is it useless?
Will they even take my call or help since I’m in another province? Is there a way to find records on bad tenants?”
One of the replies was a smart one.
An experienced Edmonton landlord wrote in:
“References can lie.
Job letters can be forged.
Previous addresses can be made up.
Tenant credit checks cannot be manipulated by tenants.”
Tenant Credit Checks
This is a key way to find out the ‘truth’ about your potential renters.
Bad tenants are used to ripping off landlords and they usually know how to make a good impression and tell you what you, as a landlord, want to hear.
But in many cases it can be a lie and these tenants can end up costing you thousands of dollars after they move.
Just check out this story of a Calgary landlord who lost over $100,000 when his “nice” tenants put a grow-op in his basement unit.
Not only did he lose over $100,000 just in damages, he sold the property losing even more money.
You can read more at the Alberta Landlord Credit Check site.
Calgary Landlords Make Sure You Rent To Good Tenants
Calgary landlords can join the Alberta Landlord Association for only a one time fee of $99.
That’s right, no annual fee. Just a one time registration fee and you can start doing premium credit checks from TVS for only $10/check!
TVS checks are amazing. You get a toll-free number to help you get set up fast and can start doing tenant credit checks in less than a few minutes from your own computer.
You get a score, a recommendation, past addresses, and lots more information on your potential renters…all for the member price of only $10/check!
It’s a deal that can’t be beat!
You Can Make Sure You Rent To Good Tenants
Calgary Landlords Can Join the Alberta Landlords Association for a one-time registration fee and start making tenant credit checks part of your process to make sure you rent to great tenants!