You're now at the stage of visits by prospective tenants. As previously mentuioned, don't go by appearances alone. It is strongly recommended to investigate each person who wants to rent the dwelling.
This is why it is important to conduct a thorough investigation. Certain people are satisfied with the simple credit report. It will certainly give you an idea whether the prospective tenant is solvent, but it will be all. It is very important to go a little further, to do checks with his current landlord, his employer… etc. A good, complete investigation can help you to avoid taking action withthe Rental Board.
A good, thorough investigation covers the following points:
- Authentification of the current landlord
- Checking of current employment
- Checks with the current landlord
- Banking checking
- Checks with the Rental Board
- Checking the court record for civil and criminal files
- Information on credit history
In order to understand each one of these points well, let us take them one by one in order to understand them.
Authentification of the current landlord: When you have a form filled out for purposes of investigation, it is important to ensure that the propsective tenant properly fills out the section entieled “Current landlord”. The authentification of the current landlord will enable you to see well whether it is the same person registered and helps to ensure that the propsective tenant isn't lying to you..
Obviously, this section does not apply if the propsective tenant lives with his parents. It may also be that the latter has never been a tenant. In this case, beware because they could be hiding something.
Checking of current employment: This information will enable you to verify how much they earn, the type of employment, and the employer mentioned, all this to verify that he is indeed an employee of the place indicated. We have seen cases where the employer did not even know the individual in question.
Checking with the current landlord: The purpose of this check is to know their payment record and how the prospective tenant behaves. The questions asked are: How long has this person been living in your dwelling? How much is the rent? Does he always pay on the first day of the month? If not, did you need to send a notice to your tenant? Have you or the tenant aver filed a request with the Rental Board, and if so, why? Have you ever been informed that the tenant abandoned the dwelling? Was he a good tenant and did he leave the dwelling in a clean state?
It may be however that the propsective tenant does not have a current landlord. For example, if the latter lives at with his family or in a family building, or is the current landlord a guarantor on the lease. Consequently, these checks won't apply.
Banking checks: The banking check is used to obtain information of the current account (or the checking account or the savings account) of the prospective tenant. You can find out when the account was opened, the balance of the account which generally described as (for example; average of 3 figures) and the number of returned cheques (NSF).
For better understanding the example of “3 average figures”, here is a small roster of explanation.
1 low figure = from 1 to 3$
1 average figure = from 4 to 6$
1 high figure = from 7 to 9$
2 low figures = from 10 to 29$
2 average figures = from 30 to 59$
2 high figures = from 60 to 99$
3 low figures = 100 to 299$
3 average figures = 300 to 599$
3 high figures = 600 to 999$
4 low figures = 1000 to 2999$
4 average figures = 3000 to 5999$
4 high figures = 6000 to 9999$
5 low figures = 10000 to 29999$
5 average figures = 30000 to 59999$
5 high figures = 60000 to 99999$
And so on and so forth.
Be advised that for this checks we do everything possible to obtain this banking information when requested.
On the other hand, certain banking institutions are slower to respond which involves additional waiting time.
Information on credit operations: Here you will find the summary of the solvency file of the prospective tenant, namely if the person makes all his credit payments on time, or late. You will also see how he uses his credit and the potential limit. For example, the candidate could have one overdue payment between 30 to 60 days, with a total credit balance of 10,000$ on an available credit of 20,000$.
We can also see on this summary if your subject is in bankruptcy and for how much, if he has an (S) reference against him, indicating whether the claims are settled or not.
Checking with the Rental Board: This check will enable you to see whether the name of your tenant has previously appeared as a defendant in a Rental Board judgement for non-payment of rent. Naturally, it is necessary to use this information prudently and to ensure yourself that it is indeed your candidate and not someone with the same name.
In certain cases, it could be that your prospective tenant mentions to you that he has no renting experience or that he has never had a lease in his name.
Caution! Be wary, he could be trying to conceal certain details of his rental past.
Checking of the civil and criminal file: The latter will enable you to see whether the person has had run-ins with the law for various reasons. For example, cases of drug possession, misdemeanours, to name only a few.
It is also necessary to be careful with this information and to ensure that it realtes to your candidate and not someone with the same name because the data only make it possible to check using the candidate's name.
Please know that the Quebec Landlords Association strongly suggests you to do a thorough investigation, although you are not obliged to do so.
Our members always have the option to conduct an investigation of their choice. Whether you only wish to have the credit history or a complete credit investigation, including employment, and the current landlord, that remains up to you.
This is why it is important to conduct a thorough investigation. Certain people are satisfied with the simple credit report. It will certainly give you an idea whether the prospective tenant is solvent, but it will be all. It is very important to go a little further, to do checks with his current landlord, his employer… etc. A good, complete investigation can help you to avoid taking action withthe Rental Board.
A good, thorough investigation covers the following points:
- Authentification of the current landlord
- Checking of current employment
- Checks with the current landlord
- Banking checking
- Checks with the Rental Board
- Checking the court record for civil and criminal files
- Information on credit history
In order to understand each one of these points well, let us take them one by one in order to understand them.
Authentification of the current landlord: When you have a form filled out for purposes of investigation, it is important to ensure that the propsective tenant properly fills out the section entieled “Current landlord”. The authentification of the current landlord will enable you to see well whether it is the same person registered and helps to ensure that the propsective tenant isn't lying to you..
Obviously, this section does not apply if the propsective tenant lives with his parents. It may also be that the latter has never been a tenant. In this case, beware because they could be hiding something.
Checking of current employment: This information will enable you to verify how much they earn, the type of employment, and the employer mentioned, all this to verify that he is indeed an employee of the place indicated. We have seen cases where the employer did not even know the individual in question.
Checking with the current landlord: The purpose of this check is to know their payment record and how the prospective tenant behaves. The questions asked are: How long has this person been living in your dwelling? How much is the rent? Does he always pay on the first day of the month? If not, did you need to send a notice to your tenant? Have you or the tenant aver filed a request with the Rental Board, and if so, why? Have you ever been informed that the tenant abandoned the dwelling? Was he a good tenant and did he leave the dwelling in a clean state?
It may be however that the propsective tenant does not have a current landlord. For example, if the latter lives at with his family or in a family building, or is the current landlord a guarantor on the lease. Consequently, these checks won't apply.
Banking checks: The banking check is used to obtain information of the current account (or the checking account or the savings account) of the prospective tenant. You can find out when the account was opened, the balance of the account which generally described as (for example; average of 3 figures) and the number of returned cheques (NSF).
For better understanding the example of “3 average figures”, here is a small roster of explanation.
1 low figure = from 1 to 3$
1 average figure = from 4 to 6$
1 high figure = from 7 to 9$
2 low figures = from 10 to 29$
2 average figures = from 30 to 59$
2 high figures = from 60 to 99$
3 low figures = 100 to 299$
3 average figures = 300 to 599$
3 high figures = 600 to 999$
4 low figures = 1000 to 2999$
4 average figures = 3000 to 5999$
4 high figures = 6000 to 9999$
5 low figures = 10000 to 29999$
5 average figures = 30000 to 59999$
5 high figures = 60000 to 99999$
And so on and so forth.
Be advised that for this checks we do everything possible to obtain this banking information when requested.
On the other hand, certain banking institutions are slower to respond which involves additional waiting time.
Information on credit operations: Here you will find the summary of the solvency file of the prospective tenant, namely if the person makes all his credit payments on time, or late. You will also see how he uses his credit and the potential limit. For example, the candidate could have one overdue payment between 30 to 60 days, with a total credit balance of 10,000$ on an available credit of 20,000$.
We can also see on this summary if your subject is in bankruptcy and for how much, if he has an (S) reference against him, indicating whether the claims are settled or not.
Checking with the Rental Board: This check will enable you to see whether the name of your tenant has previously appeared as a defendant in a Rental Board judgement for non-payment of rent. Naturally, it is necessary to use this information prudently and to ensure yourself that it is indeed your candidate and not someone with the same name.
In certain cases, it could be that your prospective tenant mentions to you that he has no renting experience or that he has never had a lease in his name.
Caution! Be wary, he could be trying to conceal certain details of his rental past.
Checking of the civil and criminal file: The latter will enable you to see whether the person has had run-ins with the law for various reasons. For example, cases of drug possession, misdemeanours, to name only a few.
It is also necessary to be careful with this information and to ensure that it realtes to your candidate and not someone with the same name because the data only make it possible to check using the candidate's name.
Please know that the Quebec Landlords Association strongly suggests you to do a thorough investigation, although you are not obliged to do so.
Our members always have the option to conduct an investigation of their choice. Whether you only wish to have the credit history or a complete credit investigation, including employment, and the current landlord, that remains up to you.