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Mississauga Landlords Tenant Screening: Credit Checks

November 18th, 2013 · No Comments · Credit Checks, Tenant Screening

 Mississauga landlords tenant screening credit check

With Licensing Coming in 2014 It’s More Important Than Ever for Mississauga Landlords To Do Proper Screening of Potential Tenants

In our last post we discussed the harsh reality of Mississauga landlords needing a license to operate.

We introduced our readers to the City of Mississauga information site called Housing Choices.

On January 2, 2014 if you are a landlord in Mississauga you will need to apply for and receive a license or your rental property could be shut down.

Tenants Can Call The City

Part of the landlord licensing program is tenants can call the city directly if they have any concerns about the safety of the rental property.

While most tenants are honest and if there are any maintenance issues they will contact the landlord and be cooperative while the landlord does the repairs (if needed).

There Are Bad Tenants Out There Too

We have also heard of many cases where tenants will attempt to gain control over their landlord by contacting the city first.

Instead of cooperating with the landlord, these bad tenants will attempt to give the landlord problems by getting the city involved.

We have seen examples where the tenants even make the damages, then call the city claiming won’t do repairs (even when they don’t even inform the landlord about the damages).

Under the Mississauga landlord licensing plan, tenants can contact the city to shut down a landlords rental property by making them lose their license.

Tenant Screening

While a minority, these types of tenants who want to shut you down and make you lose thousands of dollars and ruin your rental business do exist.

This is why it’s more important than ever for Mississauga landlords to do proper tenant screening to find good, reasonable tenants who respect you and your rental property.

Tenant Credit Checks

One aspect of good tenant screening is to always do a tenant credit check.

A tenant credit check will show you a tenant’s financial background.

A Tenant Credit Check Will Show You:

1. The tenant’s current and past addresses (so you can contact previous landlords)

2. The tenant’s current and past occupations,

3. The tenants loans, debts,  and if any collection agencies are chasing them

4. If the tenant has any small claims court judgments against them

5. The tenants “credit score” which is a way to judge their financial reliability

Tenants who pay their bills on time, respect businesses and creditors, and have a high credit score are usually people who are responsible.

You want responsible people to be your tenants

We’ve seen lots of cases of landlords lose tenants of thousands of dollars by not doing a tenant credit check before renting to a tenant.

Aren’t Tenant Credit Checks Expensive and Complicated?

They used to be.

Not anymore. You can become a member of the Ontario Landlords Association and begin doing high quality, affordable tenant credit checks in minutes.

Mississauga landlords, landlord licensing is less than two months away.

Find good tenants and protect your rental property with tenant credit checks as part of your tenant screening process.

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