How to Deal With Tenants
If you are new to buying an investment property and are not sure how to deal with your tenants, this guide will show you how to choose the right tenants for your residential property investment, and make sure you do it right every time.
Ask your tenant to fill in a Tenant Application Form. Using such a form (and make it simple), you will be able to discover their: personal information (name, marital status, current address); employment details; bank details (enabling you to do a thorough credit check to see if they can afford your property) and also give you the opportunity to ask them to fill in a supplementary questionnaire. Through this application form you will be able to gain an accurate picture of your tenant’s character and if they are right for your property.
Ask for tenant references. During their Tenant Application, tenants should provide you with details of their referees. These should either be their previous/current landlord, current employer, bank or a personal referee who is a professional i.e. dentist, doctor, etc.
It is important that you contact these references personally and don’t take a written reference from your tenant. Given the opportunity they could provide you with a reference written by themselves which falsely amplifies their character.
Interview your tenants. Many professional landlords choose to let their letting agents pick their tenants, but this could prove to be a big mistake. By meeting your tenants in person (before they sign the agreement), you can get your own take on their character and see things which won’t always be evident in their application.
For more info about rental regulation, please visit "Landlord and Tenant Board" website: