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Points To Consider When Screening Tenants

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Renting out a property can bring you bliss or misery depending on how diligent your tenant is on paying his rent and how he takes care of your property.


Based on a list of single family homes for lease in the Vancouver B.C. area, rental rates range from a low of $1,000 to a high of $3,500.  While you will want to have your Vancouver property rented out year in and year out, haphazardly closing a deal may lead you to miss out on important screening checklist.


Include these in your checklist:


Credit Standing


People with a track record of missed payments, as well as an inability to live within their means, are warning signs that they can be a source of headache.  While minor infractions are forgivable, obvious signs of irresponsibility with finances shouldn’t be ignored.


BI results


Results of a background investigation (BI) can help reveal history of vandalism, robbery, or even substance abuse.  No property owner would want to rent out his property to a tenant whose character is heavily marred with behavioral issues.   These are deal breakers.


Employment record


Jumping from one job to another, history of being fired, and hesitation to offer work references, oftentimes give you some clues to his character.  A good tenant will normally have a stable job.There is nothing wrong actually with switching jobs or employers but a long lull in between switches must also be looked into.


Monthly Income


Proof that he has more than enough income is vital.  This can help you gauge if he has sufficient income to cover the rent and other basic needs.


Carefully screening prospective tenants is vital to landing a good one.  Make sure you follow these to find someone who is for keeps.

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