Lik

First of all, make sure you are familiar with the Tenancy Act. The Act is there to protect both the landlord and the tenant.

Secondly, make sure everything is written down in black and white on the contract. Many people like to do things informally and under the table, but that is not going to help you when the disputes come. The Tenancy Branch website has standard forms and rental contracts you can download and use, or modify to suit your needs.

Last but not least, do your screening well! Screening and background checks are the 2 most important things you can do to increase the chances of you finding a good tenant. All the usual rules of screening people applies -- are you comfortable with the person? do they have a stable job with a steady income? If they have a past landlord, that would likely be your single best  source of rental history.

-Lik

Lik

Tenants definitely get a lot of protection from the Act, and I agree that the Act is more biased towards protecting the tenants than the landlords. But that doesn't detract from the fact that landlords can rely on the Act to protect themselves when the situation arises (issue eviction notices, etc. when the criteria are met). When you do not have a rental contract between the 2 parties, things become a lot more difficult and messy when problems arise.

Personally, I would much prefer to rent to complete strangers than someone I know, unless I know that person really well and am 100% confident about his financial stability to pay me that rent. Money dealings can easily ruin or strain friendships. Even if you are perfectly comfortable with keeping things separate, other people might not work the same way.

Location of your unit is also extremely important. Good areas are a lot more likely to attract good tenants.

-Lik

Lik

How do I do background check?  Can I ask the potential tenant for a proof of income?  Or ask his emp ...
byanca 發表於 2011-10-28 15:13

It is perfectly acceptable to include a section in the rental application form for the viewers to write down their employer, their position/job title, manager/supervisor and his phone number, etc.. It is up to them to decide whether they are interested enough in your unit to provide you with that info. Then, if you are really interested in renting to that person, you should notify the potential tenant first that you plan to call his boss, and ask him to let his boss know about you planning to call him (the boss).

-Lik