Finding the Right Tenant

Bad tenants. We’ve all heard horror stories. Selecting the right tenant is the most important step in the rental property business. Here are four tips Chris recommends to help you choose the best tenants.

Follow the Law

Landlords must treat all prospective tenants fairly.  The Nova Scotia Residential Tenancies Act establishes the terms of the working relationship between landlord and tenant.  Chris knows it like the back of his hand and is here to advise you.

Choose a Tenant with Good Income History

You want to find a tenant who is financially responsible.  If they are responsible with paying their bills, there is a strong chance they will pay their rent on time and will be responsible with your property.  Checking a tenant’s finances includes verifying their income with a thorough background check. Chris can do this for you.

Look at Tenant’s Rental History.

If possible, you should talk to at least two of the tenant’s previous landlords. Did the tenant give adequate notice prior to moving? What was the reason for their move? Were they respectful of neighbors? If the applicant is a first-time renter, or student, they may not have a rental history. In this case, you can require a co-signer for the lease. Chris can help you ask the right questions.

Trust your instincts.

You can do all the screening in the world, but sometimes your instincts are the best judge of character. You may feel that there is something off about a tenant who otherwise looks good on paper, later to find that they are trouble. Trust your screening, but do not ignore your gut. Chris knows the red flags and can help you find the best tenants.