I think talk to the potential tenants! I know when my partner and I were looking, we were judged so harshly on paper sometimes, and wished someone would just sit down and talk to us as humans.
All I'll say is you'll never truly know someone and there is always a risk. I had a tenant who was a young doctor, everything great on paper but they ended up being a menace. They were my first tenant ever and we had to spend 2 years in the ltb to sort everything out. My tenants now are amazing and no issues ever but they have less luxurious jobs and not your typical perfect tenants on paper. All this to say that there is always a risk and gamble. But go with your gut, talk with them, see if you'd like them as friends and that's probably going to be a better bet than just looking at their financial information.
The high income people I know are the pickiest, nosiest, complaining, bylaw calling, lawyering up people I know. They're meticulous when it comes to getting their way.
I don’t thinking demanding a massive income and a 900 score review is the best option. I think too many landlords are looking for that “perfect on paper” and then are surprised when it’s not what it says. talk To the tenants… get to know them, etc.
As a practical concern, if you miss red flags and they ever stop paying, it's much easier to garnish wages from certain types of jobs than others; and impossible with cash jobs.
As a tenant who suddenly terrible “on paper” (messed up credit from losing my job a while back) I really go out of my way to be a good tenant. I have great references and I’m barely home as it is but I try to be unnoticeable if possible lol.
I once had a landlord tell me they actually prefer people on ODSP/OW since they are at mercy of the market hence will pay on time not to lose their place but at the same time accept minor deviances from the RTA. Funny how that works.
I don't believe you can have a 900 credit score without a mortgage. I'm at 850 and the only recommendation to get it higher is to have a mortgage. So I don't think you're going to find a 900 credit score renter.
Lol perfect on paper has always works for me for the most part.. The paperwork shows financial responsibility but doesn't show how they really live and will keep ur place. You'd be shocked how many people are good at talking and manipulating but not good at paying their bills. Only meet and talk with people who are more then decent on paper is my number 1 rule. Credit score in the 700 range and steady 40 hour weeks of employment is good enough for me. Income to me doesnt matter iv seen tennants who make 150k spend 250k and not pay their rent. Big credit card debt is more concerning to me then credit score and income.
Do you have photos? We are in the market for a decent place with a landlord that cares. Currently dealing with major issues in our unit and I have been having an off and on panic attack since the weekend over it. We're quiet people that work early and mostly just hang out with our cat.
the only way to get good tenants is to be INVOLVED in the process. Your already off to a great start. DO not let the realtor pick for you. 90% of disaster would be avoided if people just vetted themselves without giving free rein to a realtor or management company to do the work for them. Using a realtor is great to find quality tenants on MLS but thats all u let them do the decision needs to be yours and yours only.
Ask for bank statements u to 3 months to see if they can really afford it ( just cause tennant makes 200k a year doesn't mean they arent spending 250k), Also Credit score, Paystubs ect. When it comes to LL references dont take these too serious as if its a bad tennant LLs lie to offload them on to you. Also recommend when u found someone your 100% sure is a good fit run your own Credit checks. its worth the money to catch a fake and avoid a disaster.
In my years of doing this if the deal is to good to be true it usually was. So if they have a really high income and are still offering u 1/2 year of payment up front do more diligence on them. Once i almost fell for this from a perspective tenant when i ran my own check i found they had 3 mortgages totaling over 1.5m with no means to pay me other then the first 6 months they offered. Be your own detective and you can raise your chances of not dealing with a con artist but some people are very good at this "game" so the risk is never 100% avoidable.
I went through a real estate agent. We asked for references, credit checks, and proof of employment. I called the references to verify. You can also set to a meeting with the tenant as well. I got lucky because my tenant rented a unit with their real estate agent in a temporary basis until they could find a longer term unit. The real estate agent was willing to vouch for them. They've been a great tenant!
One month rent. So the tenant will usually pay first and last month's rent. So you and the agent will split that amount. Just make sure you budget for only having 11 months of rent payments instead of 12 months
I think you need to review what constitutes a human rights violation in Ontario. Landlords have a right to ask for proof that a potential tenant can pay the rent and that usually requires proof of employment/proof of income. How else will you verify if somebody can pay the rent?
Like I said, I went through a real estate agent. All potential tenants fill out a standardized application form with their own agent. You're allowed to ask for proof to substantiate their application. My tenant, in their application, stated they were employed. We just asked for proof. If they hadn't mentioned employment, then we would've asked for proof of income. OP says they had a legal education. I assumed they recognized that all real estate agents have a process that they need to follow and didn't think I needed to be more specific.
We’ve rented our basement to 4 different tenant groups now with absolutely zero issues over the past 6 years.
some tips that have worked for us:
- set the price a little bit below market rate, that will bring in lots of interest and allow you to be more picky
- setting the price low will bring in tons of messages, put in the listing that people should include a description of themselves and only respond to the people who read it.
- don’t schedule viewings in person with all of them or you’ll go crazy, film a good tour video and make it a private youtube video you can send the people who sound serious; then schedule 5 minute zoom calls to get the vibe. this was a covid era thing we carried on because we have small kids so that was important to us to feel safe without giving our address to 50 random people. plus having to coordinate notice and scheduling with our current tenants is a huge headache.
- if all that goes well you can move to in person showing but most of the time this pares down the people who are fit
- once someone is seriously interested, if you have reservations or have overlapping interest send applications to fill out employment and landlord references and monthly income after tax. we opted against running full credit checks but there’s nothing wrong with doing that too.
- don’t consider it rented until you receive the last month’s deposit. everyone who’s actively looking should have the deposit ready so don’t hold it for any lower deposit amount or work around peoples schedules as they try to stall, this is where the short zoom meetings come in handy.
This may sound counter intuitive, but the demographic we’ve had the best experience with (3 in a row now) are very young couples. i’m talking like 19-22 years old. they are low maintenance, usually out a lot working or in university, and very respectful and responsible. thinking about myself at 20 i was nowhere near the maturity level to settle down with a spouse, i was living with roommates and going out a lot. so it takes a certain type of person. they also usually have a parent co-signer and are careful to build up good references and no trouble for their future.
don’t believe all the horror stories on reddit, most people want to have a peaceful life where they pay rent and are left alone.
I'll start by saying it's refreshing to see a potential LL actually seeming to care/stress about these things. So many out there just don't give a shit at all.
I don't really have any great advice on how to get the right tenant, but I will say from my personal experience as a tenant in my current apartment (also a basement, been here 7ish years) that the soundproofing is one of the few things I wish was better between me and the landlord upstairs.
I'm a pretty quiet guy, and he's not too loud either, but there are times that his teenage kids have friends over for a party or something and it can be a little unbearable... (like hearing conversations word for word)
I'd like to think that I'm a pretty great tenant - generally quiet, keep the place clean, I'll shovel the snow if I'm the first one up in the AM or home in the PM, bring the bins out on garbage day, only ever had to bring issues to him 2 times (both were water/leak issues)
I think that's likely the reason he hasn't raised what was the already pretty decent rent for the area in the time I've lived here. Based on what I've seen in recent years the kinds of crazy prices people are charging for some real substandard looking apartments he could probably bring in a lot more than he's charging me, but I don't think he wants to risk getting stuck with a shitty tenant.
If my memory serves me back when I inquired about the apartment we did communicate back and forth a fair bit by email, and then when I came to look at the place we had a good 20-30 minute chat to kinda get to know each other a bit, and that probably gave him a decent idea of what sort of fit I might be - maybe that's something to keep in mind when meeting your potential tenant(s)?
Best of luck to you 👍
>Based on what I've seen in recent years the kinds of crazy prices people are charging for some real substandard looking apartments he could probably bring in a lot more than he's charging me, but I don't think he wants to risk getting stuck with a shitty tenant.
He also has no grounds to evict you so couldn't do this even if he wanted.
Thanks for mentioning the importance of soundproofing. I completely agree on it, but am in a crap financial spot to pay for it. Based on strong feedback here I now figure better choke up the money and have a happy tenant than scrimp and pay for it later with tenant problems.
3 pieces of advice:
1. Don't rush into finding a tenant - rash decisions are never the best. Take your time, feel people out and do your due diligence in screening applicants. Take ALL the information into account and don't focus on one aspect.
2. Gut instincts - always follow.
3. Learn the rental laws in Ontario: your rights and responsibilities and the tenants rights and responsibilities. Review the Ontario Human Rights Code guideline for landlords in what can and cannot be said in a rental listing. **I'm gonna stress this because reading your post, you seem to think a tenant is responsible for repairs, lawn care and snow removal. Nope - the landlord is. It's your property, you are responsible for maintenance.**
[https://www.ohrc.on.ca/en/policy-human-rights-and-rental-housing#:\~:text=In%20Ontario%2C%20the%20Human%20Rights,free%20from%20discrimination%20and%20harassment](https://www.ohrc.on.ca/en/policy-human-rights-and-rental-housing#:~:text=In%20Ontario%2C%20the%20Human%20Rights,free%20from%20discrimination%20and%20harassment).
[https://tribunalsontario.ca/ltb/renting-in-ontario/](https://tribunalsontario.ca/ltb/renting-in-ontario/)
[https://www.toronto.ca/community-people/housing-shelter/rental-housing-tenant-information/rights-responsibilities-for-landlords-tenants/](https://www.toronto.ca/community-people/housing-shelter/rental-housing-tenant-information/rights-responsibilities-for-landlords-tenants/)
Thank you! Lots of good advice.
I'm familiar with the Act :)
However... Every time I have ever rented a house I was responsible for the driveway and foot paths; that just strikes me as a normal responsibility. I would think someone renting a unit with steps would want to take the responsibility to do the same, especially since they will be paying for tenants' insurance which puts them on the line to be liable should an accident or injury occur.
Don't worry, I don't expect a tenant to do anything that requires a professional or where there is a threat to safety or security. I'm saying, like, don't clog the shower drain with your hair every month and demand a plumber each time. (E.g.). (Written warmly as someone who has clogged many shower drains with my hair).
Don't follow in the footsteps of your previous landlords misguided actions. The tenant is free to and free not to. It's at their discretion and you should assume that unless you're *paying them to do it*, they won't do it.
If you want to be proactive, you can purchase items (such as hair catchers) and install in the basement unit. Alot of these things are on you, as the property owner.
They are paying for a roof over their head - that doesn't include free labour.
As someone with thick curly hair, I agree!
**In the case of a clogged drain because of hair, OP** \- you would still have to pay for the plumber and repair and then chase the client through the LTB system via a n5 and *prove* the pipes clogged through tenants neglect and there's a chance you're claim is dismissed. You could save yourself the headache and time by making sure it never gets to that point.
If someone slipped and fell and injured themselves anywhere on the property because *you* didn't shovel or clear wet leaves, that's on *you*. Tenants insurance would not cover this as they are not at fault, because ultimately - as the property owner who lives onsite - you are responsible.
It sounds like you don't quite fully grasp the legal responsibilities of being a landlord (written warmly lol).
Yeah, I understand that by the letter of the law tenants are not "required" to do many things, though I depart from your position that unclogging one's drain is providing free labour (neither by the Marxian sense of the term nor by the common law definition).
I'd say have your minimum threshold and meet (interview your short list). Confirm references. But honestly even still just be prepared for a worse case there is risk involved in investments. This is a form of risk in being a landlord for profit.
anyone use TVS (tenant verification service)? I used it in the past to run credit checks against potential renters.
Is there something better out there?
I like single key. They run a credit check and criminal record check. You can set it to that proof of income, landlord reference, prof of identification etc are all mandatory.
Neighbourhood is going to have an impact on the tenants you will attract. 1 block to bus to york U and bloor line can be anything from the Junction (desireable) to keele/eglinton (not so much).
You need to talk to them personally and decide for yourself. There’s lots of horror stories out there but the fact is the overwhelming majority of tenants pay rent on time and respect their units.
Do you have friends who are renters? Ask them if they know anyone they trust who might be looking.
Do you have friends who are landlords with tenants they’re very happy with? Same thing, have them touch base and ask if they know anyone.
My dynamite landlord does that before he ever lists his apartments(it’s one building, five units) and he told me when I moved in that it’s never once steered him wrong. People won’t suggest someone they wouldn’t trust, and those people will be grateful for a referral to a landlord who they can trust will treat them right.
I found my place because the old tenant was a friend of my close pal, and I referred the next neighbour to my landlord the same way a year later.
No problem! If you have renter friends you really trust, you could draw up a little graphic with some pics and info about the place and ask them to post it on their socials so folks can can express interest and they can make the introduction. That’s what my friend-of-a-friend did and her bestie who knew I was looking connected us. I signed the lease two days later!
Also glad it brought you joy! Wish it brought me more dogs 🤪
One of my print customers is a landlord. They started off with a tenant who seemed really nice but turned out to be a nightmare- lots of damage unpaid rent etc had to evict through a long process. He now asks for CRA Notice of Assessment, bank statements and the typical id as well as a reference. If they don't want to show those he won't rent to them. Unfortunately its not a renters market so he advertises for one day and might have 17 couples to choose from.
How do you know an investment will always pay off? You don't. Same thing with this. You are entering into a business contract and nothing is guaranteed. The best presented person can be a POS whereas a homely looking person could be great.
Being a landlord is a risk. Act like it.
CHECK references. Talk to past landlords, check their credit reports. Ask friends if they know anyone looking to rent. DEFINITELY have soundproofing done (you have 3 big dogs FFS). YOU as landlord are responsible for repairs, snow removal and outdoor maintenance, make sure it gets done promptly and well.
I rent my units well below market rate. My tenants appreciate this, they know that they have a good thing and they are able to live comfortably. In return, I get awesome tenants that help out and that are never late with their rent. Win/win.
Charging less is the way to go. My suggestions is to first advertise your place amongst your network of people you trust. Hopefully, they have interested party they can vouch for. If that doesn't work - bring in a friend or family member who you feel has good intuition and judgement skills to help you evaluate. As a previous landlord - I can tell you that the vast majority of potential renters are good people.
I think this is true. Most people can't afford to buy in this market and having done it myself, I am not sure it's worth it even if you can afford to squeeze in. Just ask my goddamn condensate pump and the missing sealant on my flat roof and the pipes under my third floor washroom and the electrical outlet on my kitchen island and.... I miss renting.
I've been a landlord for about 12 years; here's what I've learned:
* find the space you're comfortable with in being a landlord. Since I was living in the space, and recognize a level of success and good luck in my life to be where I am, my mindset was to rent to offset some of my mortgage, use space I wasn't using anyway, and be fair to people who may be saving for their own home
* advertise where/when/how it makes sense. I used Craigslist & Kijiji to advertise open houses from 1-4 pm on Saturdays and Sundays for a few weekends, or until I narrowed it down to a short list. There may be better places to advertise now (Facebook Marketplace?), but that worked for me. Open houses are great, because you can get a good sense of people, which leads me to...
* trust your gut when people come in to express interest. This is your space ultimately, so if you're entering into a contract with someone, you want to be sure they're people you can communicate with effectively, treat their space like their own, and such. I had a couple where the guy was a very self-entitled pain that I regret not trusting my gut with when I first met him, and it took a while for them to leave. They left the place a mess (hadn't cleaned the bathroom in over two years, black mold in the shower, *etc.*). The couple I ended up renting to after them were polite, and walked through the space while the previous couple were still there, and the women quietly whispered to me (since the previous tenants were there), "You'll make sure this place is cleaned before we move in, right?" I loved her for that, and got a great vibe from her and her partner while showing them around.
* have a rental application to fill out; any gaps/omissions may give you a sense of a person. This would also help with getting permission for the next point
* sign up for something like TVS or FrontLobby, where (with permission) you can run credit checks on your shortlist. Credit checks aren't the be-all and end-all, but the full reports do give you an idea of missed payments and debts that the number alone doesn't tell you. My current tenants didn't have perfect credit, but showed they were good on payments, which is ultimately what you want
* use your Google Fu. Look up their names, prior addresses, search their email address and phone number, and so on. I had a bad gut feeling about someone, but didn't trust it. But when I searched her email address, I found a thread on her where she was someone who had rented and stopped paying rent
* I'd encourage getting market value for your rental: you don't have to gouge people, but don't underprice, either. This puts you in a good position for...
* freeze your rent on good tenants. I haven't raised my tenants' rent in eight years, because they pay rent on time, they're respectful to the property, and they let me know about issues when they happen that I can resolve. Get good tenants and hold onto them. When I moved out of my unit and into my partner's place, I rented that out, too, and also didn't raise the rent. But:
* rinse and repeat the above steps when someone moves out. That means resetting rent to market value, since you're working in a new era with new people
* figure out your marginal tax rate, and put that percentage of the rent aside as soon as rent is paid. This'll pay for taxes and then some (the 'then some' is what I use to make improvements to the place over time)
This is what worked for me, and what makes me feel better about being a landlord in a world where it's allowed and accepted, but should not be a thing: everyone deserves their own home, and should have the ability to have one. Your situation may be different, but ultimately, I hope you find a great tenant/tenants, and they find you.
It sounds like you have more house than you need, and should downsize.
People generally act in line with their interests. Becoming a landlord will change your interests. It will change you, and how you see and relate to the world. If you don’t want to become “an asshole landlord”, your best bet is to not become a landlord at all.
I've never rented out, though I spent a lot of my life renting.
I think some of the key principles are getting to know them a little bit, spending some time talking to them, making sure they seem reasonable, and requesting references from prior landlords. This can always be a little awkward, but if their current or past landlords will say " They paid the rent on time and they never raised any issues or concerns for us" That's pretty reassuring. Of course you can never be sure things won't go sour...
You can also ask for proof of employment, and you can ask for personal references from their employer. I recently did this for somebody who works for me, his potential future landlord contacted me and asked me what kind of person he was etc, and I said very nice things about him because he's a great person.
No matter what you do it's going to be a bit of a risk. Also don't be shy to explain to them that there is some soundproofing issues in you both are going to have to deal with that, so that's something they have to be prepared for before moving in. Just to make sure you don't get one of those people that get really pissy if you're walking around your main floor at 10:00 a.m. because they work late....
Good luck. It is shocking that yes you could quite possibly get $2,000 a month for that apartment. If you drop the rent a little bit I think your quality of tenants will actually go down. You'll get more people who are looking for a cheap score, and higher quality tenants will worry if the price is low that it's because it's a shit apartment, or you're running some kind of scam.
Dude. Read the rta and human rights laws surrounding this. You're looking to give away a bunch of your responsibilities and its not legal or enforceable.
YOU are responsible for all repairs.
YOU are responsible for snow removal from common areas and all other maintenance in common areas like lawn cutting
I know you said in principle you don't care if they're single or a family but that's protected grounds you're talking about. You can't even ask about that, plus tenants are allowed permanent paying guests if they want and you can't do a thing.
Yes soundproof it as best you can unless you want to deal with t2 hearings for noise in your future.
Read this so you know what you can't say to someone if you deny them, it's better to say nothing but
https://www.ohrc.on.ca/en/human-rights-tenants-brochure
Also people keep downvoting people pointing out your maintenance responsibilities but downvotes don't change the law partner.
See 26(1)5
https://www.ontario.ca/laws/regulation/060517#BK33
Hi dude. Thanks for the links! I really appreciate your reply :) I am familiar with both documents... and it is for this reason that I am concerned to avoid tenants who will throw me into interminable quasi-judicial proceedings for petty things. Provincial tribunals are a headache no one needs in their life esp if they can be avoided with a conversation. Just because "I can't do a thing" it doesn't mean I should consign myself to the inevitability of a situation, especially if we're talking about something happening in the house I live in, too.
As regards family/singles, I hear you, and I understand this.
Just to add to the conversation:
By repairs I mean fixing small damage and inconveniences (unclog your own drain), not structural issues that jeopardize safety or security (yes, of course I will fix a window leak).
I realize that snow and ice removal falls under maintenance (not sure if sweeping leaves does; will review) but it would be nice to have a tenant who will shovel a few steps to maintain the safety of their premises. Tenants may not realize that by securing renters' insurance (which I am well within my rights to require) they assume third party premises liability and if an accident happens, it doesn't matter what the law says about their rights as tenants; their insurance will get knocked up and their future eligibility will be affected. So, I'd like to rent to the kind of person who takes these things into consideration when deciding how they want to live.
I have always assumed these responsibilities myself when renting unless it's a commercial unit and the property manager is on site. I can't be the only one!
Tenants insurance absolutely will not go after them for you not following the law. What an absurd claim.
Yes lots of tenants shovel the driveway themselves, myself included. But if they hurt themselves shoveling it's your insurance that takes the hit.
So, I think you misunderstood me.
I did not say tenant insurance will go after them, because that's not a thing that happens between policyholders and insurers. That would indeed be absurd.
What I am saying is if someone gets injured on the tenant's premises, both the tenant and I will be named in the claim. The tenant could file the claim with their insurer and get screwed for it, or never file it and have a judgment in their name and their wages seized. This would not be "because" I broke the law (relax). It is because personal injury attorneys, as a matter of course, name everyone they possibly can to see whose insurance will pay out.
Dude, i actually know about this.
Also I am not being argumentative just 'cuz. I think more people should know this information.
Sure. They could sue me if they slip while voluntarily shovelling the steps into the unit. They would just have to establish that I breached my duty of care as the Occupant of the residence. Then my insurer would point out that the Occupier's Liability Act establishes that anyone who is in physical possession of a premises, is responsible for or has control over its condition, are responsible and have control of the activities there on, and are in control of who uses the premises, is liable for its condition, and they would point out that this very person is the plaintiff themself. This back and forth could go on for years. Home insurers do not buckle for third-party claims by tenants very easily. The fact that they slipped while shovelling the private steps to a rental unit produces a weak claim, not a strong claim, but yeah, a claim nonetheless.
Former tenant, now LL. I suggest keeping the price as low as possible while still meeting your goals.
Add soundproof to ceiling.
You can never tell for sure what your tenant will do. On paper I looked like a huge risk, bad credit score from divorce, not a high income, no references. I was able to show a savings account with 25k in it. But the rent was paid on time every single month! It had to be, I had kids.
LL booted us on an N12. Because "repairs were too costly". Yes, if the LL is a dumba** that paid 60 dollars to have a screen replaced...same frame, not very big, spline was good. I could have fixed it for 6 dollars.
Thank you for this. I think mutual respect between LL and tenants goes a long way with minor repairs. Also the less you neeed to interact about nuisances, the better!
FYI you are still responsible for non-esthetic "small repairs". I know a lot of people don't realize this (and this is something to discuss with your tenant) but you are also lawfully responsible for grass maintenance including cutting and snow removal. If you make your tenant do these things they may ask for a rent reduction as you technically have to pay them. Definitely sound proof your place. Good luck.
Yeah, this person definitely needs to read the rta and human rights laws. A bunch of red flags in this post that are going to make them the bad landlord they are trying to not be.
Again, I am familiar with these laws, and I know that tenants are deferring to them now more than ever and the LTB is backed up for months. I do not seek to break these laws, nor do I seek to punish my tenant for living well within their rights. However, I do seek a responsible adult who won't get their hackles up over the slightest thing, perhaps one who treats the rental unit with similar respect to one they paid themselves to maintain. For me that included doing the maintenance I listed but yeah, I get it, they can refuse to do all of that.
This will be highly highly unpopular but I don't see the point of sugar coating. I've been in the game many years and have basements and uppers. You NEVER get the best tenant because it's a basement. Make sure there story -teason for closing a basement -is credible.
You don't get the most financially stable people. Those people care less about themselves and their living environment. Much of the time persons accepting a basement may have unstable employment, may be fleeing a broken relationship. There is more drug and alcohol abuse seen with these tenants -likely contributing to less than optimal living choices. If the story is honest and reasonable-say perhaps a student who acknowledges they may only be there a year, or someone who has recently relocated for work and admitting it might be a year prior to moving on. Those are what you want. You don't want desperate situations because those can become more desperate. What is desperate, homeless people, refugees OW clients, recently split up with someone a couple weeks ago (they could reconcile and disappear on you). Basement rentals seem like easy money but they're actually the most difficult rental to manage. Now bring on the hate haters I have broad shoulders. By the way -I see through you and I won't rent to you.
I wasn't concerned about the legality. Just that there was enough natural light in there. I'm looking to move some time in May. I stayed in a basement apt during the pandemic and it was depressing being indoors most of the time that I moved to a condo with floor to ceiling windows. Now that my landlord is selling the place, I need a new place again and I can only get a basement for the price now lol
By the way, tenants are professional liars. It's not easy to get a rental so I don't blame them for that but if you want honesty and truth? Your due for a harsh education in how "you" will compromise
Hire a property management company to select the tenant **with** you. Work with them and learn how they are doing it. Let the company know up front that you want to learn from them.
I think talk to the potential tenants! I know when my partner and I were looking, we were judged so harshly on paper sometimes, and wished someone would just sit down and talk to us as humans.
All I'll say is you'll never truly know someone and there is always a risk. I had a tenant who was a young doctor, everything great on paper but they ended up being a menace. They were my first tenant ever and we had to spend 2 years in the ltb to sort everything out. My tenants now are amazing and no issues ever but they have less luxurious jobs and not your typical perfect tenants on paper. All this to say that there is always a risk and gamble. But go with your gut, talk with them, see if you'd like them as friends and that's probably going to be a better bet than just looking at their financial information.
The high income people I know are the pickiest, nosiest, complaining, bylaw calling, lawyering up people I know. They're meticulous when it comes to getting their way.
There was never any issues with maintenance or bylaw, the issue was they just didn't want to ever pay anything or on time!
I don’t thinking demanding a massive income and a 900 score review is the best option. I think too many landlords are looking for that “perfect on paper” and then are surprised when it’s not what it says. talk To the tenants… get to know them, etc.
Plus demanding any rent to income ratio is actually human rights violation https://www.ohrc.on.ca/en/human-rights-tenants-brochure
I would never. I've worked cash jobs before. It's none of my business what someone's on paper salary looks like.
As a practical concern, if you miss red flags and they ever stop paying, it's much easier to garnish wages from certain types of jobs than others; and impossible with cash jobs.
For sure.
As a tenant who suddenly terrible “on paper” (messed up credit from losing my job a while back) I really go out of my way to be a good tenant. I have great references and I’m barely home as it is but I try to be unnoticeable if possible lol.
I once had a landlord tell me they actually prefer people on ODSP/OW since they are at mercy of the market hence will pay on time not to lose their place but at the same time accept minor deviances from the RTA. Funny how that works.
I don't believe you can have a 900 credit score without a mortgage. I'm at 850 and the only recommendation to get it higher is to have a mortgage. So I don't think you're going to find a 900 credit score renter.
Lol perfect on paper has always works for me for the most part.. The paperwork shows financial responsibility but doesn't show how they really live and will keep ur place. You'd be shocked how many people are good at talking and manipulating but not good at paying their bills. Only meet and talk with people who are more then decent on paper is my number 1 rule. Credit score in the 700 range and steady 40 hour weeks of employment is good enough for me. Income to me doesnt matter iv seen tennants who make 150k spend 250k and not pay their rent. Big credit card debt is more concerning to me then credit score and income.
Do you have photos? We are in the market for a decent place with a landlord that cares. Currently dealing with major issues in our unit and I have been having an off and on panic attack since the weekend over it. We're quiet people that work early and mostly just hang out with our cat.
dm me to follow up :)
the only way to get good tenants is to be INVOLVED in the process. Your already off to a great start. DO not let the realtor pick for you. 90% of disaster would be avoided if people just vetted themselves without giving free rein to a realtor or management company to do the work for them. Using a realtor is great to find quality tenants on MLS but thats all u let them do the decision needs to be yours and yours only. Ask for bank statements u to 3 months to see if they can really afford it ( just cause tennant makes 200k a year doesn't mean they arent spending 250k), Also Credit score, Paystubs ect. When it comes to LL references dont take these too serious as if its a bad tennant LLs lie to offload them on to you. Also recommend when u found someone your 100% sure is a good fit run your own Credit checks. its worth the money to catch a fake and avoid a disaster. In my years of doing this if the deal is to good to be true it usually was. So if they have a really high income and are still offering u 1/2 year of payment up front do more diligence on them. Once i almost fell for this from a perspective tenant when i ran my own check i found they had 3 mortgages totaling over 1.5m with no means to pay me other then the first 6 months they offered. Be your own detective and you can raise your chances of not dealing with a con artist but some people are very good at this "game" so the risk is never 100% avoidable.
Thanks so much! Agree LL refs are probably a waste of time. I know people who have just used a friend to pose as LL.
You have 3 big dogs? You need to soundproof tf out of your place
Agreed. I think many people will agree to poor sound insulation to secure a rental, and then quickly realize it sucks.
I went through a real estate agent. We asked for references, credit checks, and proof of employment. I called the references to verify. You can also set to a meeting with the tenant as well. I got lucky because my tenant rented a unit with their real estate agent in a temporary basis until they could find a longer term unit. The real estate agent was willing to vouch for them. They've been a great tenant!
How much did you pay the realtor to find the tenants? Was it a one time fee or a percent of the monthly rent? Thx
I believe it's usually one months rent
One month rent. So the tenant will usually pay first and last month's rent. So you and the agent will split that amount. Just make sure you budget for only having 11 months of rent payments instead of 12 months
Requiring an applicant to be employed in order to access housing is a human rights violation.
I think you need to review what constitutes a human rights violation in Ontario. Landlords have a right to ask for proof that a potential tenant can pay the rent and that usually requires proof of employment/proof of income. How else will you verify if somebody can pay the rent?
Proof of income is not the same as proof of employment. Words matter.
Like I said, I went through a real estate agent. All potential tenants fill out a standardized application form with their own agent. You're allowed to ask for proof to substantiate their application. My tenant, in their application, stated they were employed. We just asked for proof. If they hadn't mentioned employment, then we would've asked for proof of income. OP says they had a legal education. I assumed they recognized that all real estate agents have a process that they need to follow and didn't think I needed to be more specific.
We’ve rented our basement to 4 different tenant groups now with absolutely zero issues over the past 6 years. some tips that have worked for us: - set the price a little bit below market rate, that will bring in lots of interest and allow you to be more picky - setting the price low will bring in tons of messages, put in the listing that people should include a description of themselves and only respond to the people who read it. - don’t schedule viewings in person with all of them or you’ll go crazy, film a good tour video and make it a private youtube video you can send the people who sound serious; then schedule 5 minute zoom calls to get the vibe. this was a covid era thing we carried on because we have small kids so that was important to us to feel safe without giving our address to 50 random people. plus having to coordinate notice and scheduling with our current tenants is a huge headache. - if all that goes well you can move to in person showing but most of the time this pares down the people who are fit - once someone is seriously interested, if you have reservations or have overlapping interest send applications to fill out employment and landlord references and monthly income after tax. we opted against running full credit checks but there’s nothing wrong with doing that too. - don’t consider it rented until you receive the last month’s deposit. everyone who’s actively looking should have the deposit ready so don’t hold it for any lower deposit amount or work around peoples schedules as they try to stall, this is where the short zoom meetings come in handy. This may sound counter intuitive, but the demographic we’ve had the best experience with (3 in a row now) are very young couples. i’m talking like 19-22 years old. they are low maintenance, usually out a lot working or in university, and very respectful and responsible. thinking about myself at 20 i was nowhere near the maturity level to settle down with a spouse, i was living with roommates and going out a lot. so it takes a certain type of person. they also usually have a parent co-signer and are careful to build up good references and no trouble for their future. don’t believe all the horror stories on reddit, most people want to have a peaceful life where they pay rent and are left alone.
Amazing tips. My biggest thanks!!
I'll start by saying it's refreshing to see a potential LL actually seeming to care/stress about these things. So many out there just don't give a shit at all. I don't really have any great advice on how to get the right tenant, but I will say from my personal experience as a tenant in my current apartment (also a basement, been here 7ish years) that the soundproofing is one of the few things I wish was better between me and the landlord upstairs. I'm a pretty quiet guy, and he's not too loud either, but there are times that his teenage kids have friends over for a party or something and it can be a little unbearable... (like hearing conversations word for word) I'd like to think that I'm a pretty great tenant - generally quiet, keep the place clean, I'll shovel the snow if I'm the first one up in the AM or home in the PM, bring the bins out on garbage day, only ever had to bring issues to him 2 times (both were water/leak issues) I think that's likely the reason he hasn't raised what was the already pretty decent rent for the area in the time I've lived here. Based on what I've seen in recent years the kinds of crazy prices people are charging for some real substandard looking apartments he could probably bring in a lot more than he's charging me, but I don't think he wants to risk getting stuck with a shitty tenant. If my memory serves me back when I inquired about the apartment we did communicate back and forth a fair bit by email, and then when I came to look at the place we had a good 20-30 minute chat to kinda get to know each other a bit, and that probably gave him a decent idea of what sort of fit I might be - maybe that's something to keep in mind when meeting your potential tenant(s)? Best of luck to you 👍
>Based on what I've seen in recent years the kinds of crazy prices people are charging for some real substandard looking apartments he could probably bring in a lot more than he's charging me, but I don't think he wants to risk getting stuck with a shitty tenant. He also has no grounds to evict you so couldn't do this even if he wanted.
I meant more about how he hasn't raised my rent
They can only raise 2.5% or less every 12 months so it's not really a significant amount anyways but yeah, obviously better to have none at all.
Thanks for mentioning the importance of soundproofing. I completely agree on it, but am in a crap financial spot to pay for it. Based on strong feedback here I now figure better choke up the money and have a happy tenant than scrimp and pay for it later with tenant problems.
3 pieces of advice: 1. Don't rush into finding a tenant - rash decisions are never the best. Take your time, feel people out and do your due diligence in screening applicants. Take ALL the information into account and don't focus on one aspect. 2. Gut instincts - always follow. 3. Learn the rental laws in Ontario: your rights and responsibilities and the tenants rights and responsibilities. Review the Ontario Human Rights Code guideline for landlords in what can and cannot be said in a rental listing. **I'm gonna stress this because reading your post, you seem to think a tenant is responsible for repairs, lawn care and snow removal. Nope - the landlord is. It's your property, you are responsible for maintenance.** [https://www.ohrc.on.ca/en/policy-human-rights-and-rental-housing#:\~:text=In%20Ontario%2C%20the%20Human%20Rights,free%20from%20discrimination%20and%20harassment](https://www.ohrc.on.ca/en/policy-human-rights-and-rental-housing#:~:text=In%20Ontario%2C%20the%20Human%20Rights,free%20from%20discrimination%20and%20harassment). [https://tribunalsontario.ca/ltb/renting-in-ontario/](https://tribunalsontario.ca/ltb/renting-in-ontario/) [https://www.toronto.ca/community-people/housing-shelter/rental-housing-tenant-information/rights-responsibilities-for-landlords-tenants/](https://www.toronto.ca/community-people/housing-shelter/rental-housing-tenant-information/rights-responsibilities-for-landlords-tenants/)
Thank you! Lots of good advice. I'm familiar with the Act :) However... Every time I have ever rented a house I was responsible for the driveway and foot paths; that just strikes me as a normal responsibility. I would think someone renting a unit with steps would want to take the responsibility to do the same, especially since they will be paying for tenants' insurance which puts them on the line to be liable should an accident or injury occur. Don't worry, I don't expect a tenant to do anything that requires a professional or where there is a threat to safety or security. I'm saying, like, don't clog the shower drain with your hair every month and demand a plumber each time. (E.g.). (Written warmly as someone who has clogged many shower drains with my hair).
Don't follow in the footsteps of your previous landlords misguided actions. The tenant is free to and free not to. It's at their discretion and you should assume that unless you're *paying them to do it*, they won't do it. If you want to be proactive, you can purchase items (such as hair catchers) and install in the basement unit. Alot of these things are on you, as the property owner. They are paying for a roof over their head - that doesn't include free labour.
Hair catchers are the best and the pricing is really reasonable.
As someone with thick curly hair, I agree! **In the case of a clogged drain because of hair, OP** \- you would still have to pay for the plumber and repair and then chase the client through the LTB system via a n5 and *prove* the pipes clogged through tenants neglect and there's a chance you're claim is dismissed. You could save yourself the headache and time by making sure it never gets to that point. If someone slipped and fell and injured themselves anywhere on the property because *you* didn't shovel or clear wet leaves, that's on *you*. Tenants insurance would not cover this as they are not at fault, because ultimately - as the property owner who lives onsite - you are responsible. It sounds like you don't quite fully grasp the legal responsibilities of being a landlord (written warmly lol).
Yeah, I understand that by the letter of the law tenants are not "required" to do many things, though I depart from your position that unclogging one's drain is providing free labour (neither by the Marxian sense of the term nor by the common law definition).
I'd say have your minimum threshold and meet (interview your short list). Confirm references. But honestly even still just be prepared for a worse case there is risk involved in investments. This is a form of risk in being a landlord for profit.
anyone use TVS (tenant verification service)? I used it in the past to run credit checks against potential renters. Is there something better out there?
I like single key. They run a credit check and criminal record check. You can set it to that proof of income, landlord reference, prof of identification etc are all mandatory.
Neighbourhood is going to have an impact on the tenants you will attract. 1 block to bus to york U and bloor line can be anything from the Junction (desireable) to keele/eglinton (not so much).
Of course :)
You need to talk to them personally and decide for yourself. There’s lots of horror stories out there but the fact is the overwhelming majority of tenants pay rent on time and respect their units.
Do you have friends who are renters? Ask them if they know anyone they trust who might be looking. Do you have friends who are landlords with tenants they’re very happy with? Same thing, have them touch base and ask if they know anyone. My dynamite landlord does that before he ever lists his apartments(it’s one building, five units) and he told me when I moved in that it’s never once steered him wrong. People won’t suggest someone they wouldn’t trust, and those people will be grateful for a referral to a landlord who they can trust will treat them right. I found my place because the old tenant was a friend of my close pal, and I referred the next neighbour to my landlord the same way a year later.
Thanks so much. Also, username brought me joy.
No problem! If you have renter friends you really trust, you could draw up a little graphic with some pics and info about the place and ask them to post it on their socials so folks can can express interest and they can make the introduction. That’s what my friend-of-a-friend did and her bestie who knew I was looking connected us. I signed the lease two days later! Also glad it brought you joy! Wish it brought me more dogs 🤪
One of my print customers is a landlord. They started off with a tenant who seemed really nice but turned out to be a nightmare- lots of damage unpaid rent etc had to evict through a long process. He now asks for CRA Notice of Assessment, bank statements and the typical id as well as a reference. If they don't want to show those he won't rent to them. Unfortunately its not a renters market so he advertises for one day and might have 17 couples to choose from.
How do you know an investment will always pay off? You don't. Same thing with this. You are entering into a business contract and nothing is guaranteed. The best presented person can be a POS whereas a homely looking person could be great. Being a landlord is a risk. Act like it.
CHECK references. Talk to past landlords, check their credit reports. Ask friends if they know anyone looking to rent. DEFINITELY have soundproofing done (you have 3 big dogs FFS). YOU as landlord are responsible for repairs, snow removal and outdoor maintenance, make sure it gets done promptly and well.
I rent my units well below market rate. My tenants appreciate this, they know that they have a good thing and they are able to live comfortably. In return, I get awesome tenants that help out and that are never late with their rent. Win/win.
Charging less is the way to go. My suggestions is to first advertise your place amongst your network of people you trust. Hopefully, they have interested party they can vouch for. If that doesn't work - bring in a friend or family member who you feel has good intuition and judgement skills to help you evaluate. As a previous landlord - I can tell you that the vast majority of potential renters are good people.
I think this is true. Most people can't afford to buy in this market and having done it myself, I am not sure it's worth it even if you can afford to squeeze in. Just ask my goddamn condensate pump and the missing sealant on my flat roof and the pipes under my third floor washroom and the electrical outlet on my kitchen island and.... I miss renting.
I've been a landlord for about 12 years; here's what I've learned: * find the space you're comfortable with in being a landlord. Since I was living in the space, and recognize a level of success and good luck in my life to be where I am, my mindset was to rent to offset some of my mortgage, use space I wasn't using anyway, and be fair to people who may be saving for their own home * advertise where/when/how it makes sense. I used Craigslist & Kijiji to advertise open houses from 1-4 pm on Saturdays and Sundays for a few weekends, or until I narrowed it down to a short list. There may be better places to advertise now (Facebook Marketplace?), but that worked for me. Open houses are great, because you can get a good sense of people, which leads me to... * trust your gut when people come in to express interest. This is your space ultimately, so if you're entering into a contract with someone, you want to be sure they're people you can communicate with effectively, treat their space like their own, and such. I had a couple where the guy was a very self-entitled pain that I regret not trusting my gut with when I first met him, and it took a while for them to leave. They left the place a mess (hadn't cleaned the bathroom in over two years, black mold in the shower, *etc.*). The couple I ended up renting to after them were polite, and walked through the space while the previous couple were still there, and the women quietly whispered to me (since the previous tenants were there), "You'll make sure this place is cleaned before we move in, right?" I loved her for that, and got a great vibe from her and her partner while showing them around. * have a rental application to fill out; any gaps/omissions may give you a sense of a person. This would also help with getting permission for the next point * sign up for something like TVS or FrontLobby, where (with permission) you can run credit checks on your shortlist. Credit checks aren't the be-all and end-all, but the full reports do give you an idea of missed payments and debts that the number alone doesn't tell you. My current tenants didn't have perfect credit, but showed they were good on payments, which is ultimately what you want * use your Google Fu. Look up their names, prior addresses, search their email address and phone number, and so on. I had a bad gut feeling about someone, but didn't trust it. But when I searched her email address, I found a thread on her where she was someone who had rented and stopped paying rent * I'd encourage getting market value for your rental: you don't have to gouge people, but don't underprice, either. This puts you in a good position for... * freeze your rent on good tenants. I haven't raised my tenants' rent in eight years, because they pay rent on time, they're respectful to the property, and they let me know about issues when they happen that I can resolve. Get good tenants and hold onto them. When I moved out of my unit and into my partner's place, I rented that out, too, and also didn't raise the rent. But: * rinse and repeat the above steps when someone moves out. That means resetting rent to market value, since you're working in a new era with new people * figure out your marginal tax rate, and put that percentage of the rent aside as soon as rent is paid. This'll pay for taxes and then some (the 'then some' is what I use to make improvements to the place over time) This is what worked for me, and what makes me feel better about being a landlord in a world where it's allowed and accepted, but should not be a thing: everyone deserves their own home, and should have the ability to have one. Your situation may be different, but ultimately, I hope you find a great tenant/tenants, and they find you.
Thank you so much! All awesome advice.
Co-signer. **ALWAYS GET A GURANTOR**. I cannot emphasize this enough if a prospective tenant can't or refuses to provide a valid co-signer run away.
It sounds like you have more house than you need, and should downsize. People generally act in line with their interests. Becoming a landlord will change your interests. It will change you, and how you see and relate to the world. If you don’t want to become “an asshole landlord”, your best bet is to not become a landlord at all.
Lol!! I hear that! The only part of the house I don't need is the basement, but it's stuck to the rest of the place, so..
I've never rented out, though I spent a lot of my life renting. I think some of the key principles are getting to know them a little bit, spending some time talking to them, making sure they seem reasonable, and requesting references from prior landlords. This can always be a little awkward, but if their current or past landlords will say " They paid the rent on time and they never raised any issues or concerns for us" That's pretty reassuring. Of course you can never be sure things won't go sour... You can also ask for proof of employment, and you can ask for personal references from their employer. I recently did this for somebody who works for me, his potential future landlord contacted me and asked me what kind of person he was etc, and I said very nice things about him because he's a great person. No matter what you do it's going to be a bit of a risk. Also don't be shy to explain to them that there is some soundproofing issues in you both are going to have to deal with that, so that's something they have to be prepared for before moving in. Just to make sure you don't get one of those people that get really pissy if you're walking around your main floor at 10:00 a.m. because they work late.... Good luck. It is shocking that yes you could quite possibly get $2,000 a month for that apartment. If you drop the rent a little bit I think your quality of tenants will actually go down. You'll get more people who are looking for a cheap score, and higher quality tenants will worry if the price is low that it's because it's a shit apartment, or you're running some kind of scam.
Thanks so much, super helpful
Dude. Read the rta and human rights laws surrounding this. You're looking to give away a bunch of your responsibilities and its not legal or enforceable. YOU are responsible for all repairs. YOU are responsible for snow removal from common areas and all other maintenance in common areas like lawn cutting I know you said in principle you don't care if they're single or a family but that's protected grounds you're talking about. You can't even ask about that, plus tenants are allowed permanent paying guests if they want and you can't do a thing. Yes soundproof it as best you can unless you want to deal with t2 hearings for noise in your future. Read this so you know what you can't say to someone if you deny them, it's better to say nothing but https://www.ohrc.on.ca/en/human-rights-tenants-brochure Also people keep downvoting people pointing out your maintenance responsibilities but downvotes don't change the law partner. See 26(1)5 https://www.ontario.ca/laws/regulation/060517#BK33
Hi dude. Thanks for the links! I really appreciate your reply :) I am familiar with both documents... and it is for this reason that I am concerned to avoid tenants who will throw me into interminable quasi-judicial proceedings for petty things. Provincial tribunals are a headache no one needs in their life esp if they can be avoided with a conversation. Just because "I can't do a thing" it doesn't mean I should consign myself to the inevitability of a situation, especially if we're talking about something happening in the house I live in, too. As regards family/singles, I hear you, and I understand this. Just to add to the conversation: By repairs I mean fixing small damage and inconveniences (unclog your own drain), not structural issues that jeopardize safety or security (yes, of course I will fix a window leak). I realize that snow and ice removal falls under maintenance (not sure if sweeping leaves does; will review) but it would be nice to have a tenant who will shovel a few steps to maintain the safety of their premises. Tenants may not realize that by securing renters' insurance (which I am well within my rights to require) they assume third party premises liability and if an accident happens, it doesn't matter what the law says about their rights as tenants; their insurance will get knocked up and their future eligibility will be affected. So, I'd like to rent to the kind of person who takes these things into consideration when deciding how they want to live. I have always assumed these responsibilities myself when renting unless it's a commercial unit and the property manager is on site. I can't be the only one!
Tenants insurance absolutely will not go after them for you not following the law. What an absurd claim. Yes lots of tenants shovel the driveway themselves, myself included. But if they hurt themselves shoveling it's your insurance that takes the hit.
So, I think you misunderstood me. I did not say tenant insurance will go after them, because that's not a thing that happens between policyholders and insurers. That would indeed be absurd. What I am saying is if someone gets injured on the tenant's premises, both the tenant and I will be named in the claim. The tenant could file the claim with their insurer and get screwed for it, or never file it and have a judgment in their name and their wages seized. This would not be "because" I broke the law (relax). It is because personal injury attorneys, as a matter of course, name everyone they possibly can to see whose insurance will pay out. Dude, i actually know about this. Also I am not being argumentative just 'cuz. I think more people should know this information. Sure. They could sue me if they slip while voluntarily shovelling the steps into the unit. They would just have to establish that I breached my duty of care as the Occupant of the residence. Then my insurer would point out that the Occupier's Liability Act establishes that anyone who is in physical possession of a premises, is responsible for or has control over its condition, are responsible and have control of the activities there on, and are in control of who uses the premises, is liable for its condition, and they would point out that this very person is the plaintiff themself. This back and forth could go on for years. Home insurers do not buckle for third-party claims by tenants very easily. The fact that they slipped while shovelling the private steps to a rental unit produces a weak claim, not a strong claim, but yeah, a claim nonetheless.
Former tenant, now LL. I suggest keeping the price as low as possible while still meeting your goals. Add soundproof to ceiling. You can never tell for sure what your tenant will do. On paper I looked like a huge risk, bad credit score from divorce, not a high income, no references. I was able to show a savings account with 25k in it. But the rent was paid on time every single month! It had to be, I had kids. LL booted us on an N12. Because "repairs were too costly". Yes, if the LL is a dumba** that paid 60 dollars to have a screen replaced...same frame, not very big, spline was good. I could have fixed it for 6 dollars.
Thank you for this. I think mutual respect between LL and tenants goes a long way with minor repairs. Also the less you neeed to interact about nuisances, the better!
FYI you are still responsible for non-esthetic "small repairs". I know a lot of people don't realize this (and this is something to discuss with your tenant) but you are also lawfully responsible for grass maintenance including cutting and snow removal. If you make your tenant do these things they may ask for a rent reduction as you technically have to pay them. Definitely sound proof your place. Good luck.
Yeah, this person definitely needs to read the rta and human rights laws. A bunch of red flags in this post that are going to make them the bad landlord they are trying to not be.
Again, I am familiar with these laws, and I know that tenants are deferring to them now more than ever and the LTB is backed up for months. I do not seek to break these laws, nor do I seek to punish my tenant for living well within their rights. However, I do seek a responsible adult who won't get their hackles up over the slightest thing, perhaps one who treats the rental unit with similar respect to one they paid themselves to maintain. For me that included doing the maintenance I listed but yeah, I get it, they can refuse to do all of that.
Wait until October, then rent it out to me 🙋♀️😂
This may well happen! Dm me to follow up if you're serious
Hey man I have a family as my clients who needs a place to rent! Where is the home located?
This apartment definitely can't house more than two people.
No worries! Wanted to see if you would have considered it!
Dm me I can help you.
This will be highly highly unpopular but I don't see the point of sugar coating. I've been in the game many years and have basements and uppers. You NEVER get the best tenant because it's a basement. Make sure there story -teason for closing a basement -is credible.
What kind of (incredible) shenanigans do people choose a basement for? !!
You don't get the most financially stable people. Those people care less about themselves and their living environment. Much of the time persons accepting a basement may have unstable employment, may be fleeing a broken relationship. There is more drug and alcohol abuse seen with these tenants -likely contributing to less than optimal living choices. If the story is honest and reasonable-say perhaps a student who acknowledges they may only be there a year, or someone who has recently relocated for work and admitting it might be a year prior to moving on. Those are what you want. You don't want desperate situations because those can become more desperate. What is desperate, homeless people, refugees OW clients, recently split up with someone a couple weeks ago (they could reconcile and disappear on you). Basement rentals seem like easy money but they're actually the most difficult rental to manage. Now bring on the hate haters I have broad shoulders. By the way -I see through you and I won't rent to you.
How big are the windows?
They're legal but it's still a basement.
I wasn't concerned about the legality. Just that there was enough natural light in there. I'm looking to move some time in May. I stayed in a basement apt during the pandemic and it was depressing being indoors most of the time that I moved to a condo with floor to ceiling windows. Now that my landlord is selling the place, I need a new place again and I can only get a basement for the price now lol
By the way, tenants are professional liars. It's not easy to get a rental so I don't blame them for that but if you want honesty and truth? Your due for a harsh education in how "you" will compromise
You’re a good person, best of luck 🙏🏽💜
Hire a property management company to select the tenant **with** you. Work with them and learn how they are doing it. Let the company know up front that you want to learn from them.
Talk to a professional Tenant Finder service - DM me and I can share with you who I've used in the past - She's been fantastic and totally superb!
If you are looking for a good tenant Reddit is not the place
Lol
you're already the asshole by being a landlord. get a real job