Posted on: 12-07-15 15:28:07
Just keep a rental application form ..its a standard form ..just like big rental buildings keep. Google the form or visit the websites of various rentals to see those forms. Whatever procedure big rental bldgs and condos follow, do the EXACT sane thing for your basement and you will be fine
Ask people to fill up the form and tell them you will get back to them and NOTHING will be decided on the spot.
Tell them you will consult your real eastate lawyer before making any decision..even if you don't have a lawyer, this will scare brokeass bad people :grin:
Then throw the forms of undesirable people in garbage.
In the ad itself say :
1. 12 post dated cheques required. ( maybe 10 , as first and last month will be by certified cheque ONLY )
2. First and Last month rent will be by certified cheque only.
3. 2 pieces of Photo Id required.
4. SIN card required.
5. Thorough credit check and background check will be done.
6. Professional work/job references required..NOT personal references.
7. Previous landlord references and history will be checked.
8. NO smoking and NO pets.
9. Job letter and recent pay slip required.
10. Recent Bank Statement required.
11. Tenant insurance rquired and its a MUST..and MUST be taken by the tenant.
12. 1 year lease signing is a must.
13. Have a iron clad lease agreement !..and you will be fine 
Some of the above things can be faked or photoshopped , so be careful. Sometimes you will get a good refernece from a previous landlord, but that's bcoz he just wants to get rid of his problem tenants and make them someone else's problem..lol.
Lot of these above things will eliminate fake and aggressive people . The rental vacancy in GTA is less than 1 % , so inspite of these strict conditions , you will get lot of good tenants.
Thank you @Delhi Indian and @adamthorat!
@Delhi Indian, yes did that this time
@adamthorat, i like your idea of telling people that i'll be consulting with my real estate lawyer..haha! agreed - that should filter all the bad guys out.
Quote:
Originally posted by scarborough_kudi
Thank you Indian and
Indian, yes did that this time
, i like your idea of telling people that i'll be consulting with my real estate lawyer..haha! agreed - that should filter all the bad guys out.
1.Use a rental APPLICATION form like the one below. .just to weed out bad guys.
Replace the rental building's info, with your info. Note this is only an application form, the actual lease will be different & more detailed
https://secured-forms.com/reply-to/park-property/rental-application
2.Then maybe use a rental lease form like below. Make additional changes if necessary
http://www.minto.com/doc/mg/apartment/toronto/TenancyAgreement.pdf
The key is screen screen and screen people. You have to do this BEFORE they move in , NOT after. This might seem like lot of work, but in the long run its worth it as your house worth hundreds of thousands of dollars is in their hands. Once they move in and you hand over the keys, there is NOT much you can do
Maintain a professional relationship with them , once they move in. don't get too friendly and become close friends , once they move in ..just maintain a friendly but professional , landlord and tenant relationship with them, or they will start taking advantage of it.
Keep your end of the bargain, but make sure they keep theirs too..don't get too lenient with them..any breach of contract address it strictly and at the right time, so they know that they can't take advantage of you
