Renting Quiz: The Truths About Rental Property

Are you looking to rent or rent out a property? Our rental property expert Eghan Rashidi answers five of the most common landlord-tenant questions. 

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Residential tenancy regulations may vary based on your region. You should always contact your provincial residential tenancy office for more information.

More Tips from Eghan

Landlords With A Limited Renovation Budget

I encourage those landlords to start by considering what areas of their rental are in desperate need of updating. Identifying and renovating these areas will produce higher rents on their limited budget. Make your renovations count!

How Landlords Can Protect Their Tenants

Landlords can take preventative measures to maintain their properties as a way to avoid damage and also to protect their tenants. However, I still recommend tenants get renters insurance especially in older buildings where it's better to be safe than sorry.

Why are Credit Checks Important?

A credit check is essential in determining if a tenant's credit is in good standing and can help flag any misrepresentation in their rental application. It also allows the landlord to consider the tenant's income versus debt to be certain they will be able to sustain a long term tenancy.

Usually landlords will cover this cost, although sometimes they will ask a tenant to pay or provide their own. Whatever the arrangement, it is worth every penny! To manage this cost, I recommend that landlords run a tenant's credit check only after everything else has checked out on their rental application.
My Process: Verify Landlord References > Verify Income > Then Run a Credit Check

 

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