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BC Landlord Credit Checks – Vancouver Landlords Can Now Run Credit Checks To Find Good Tenants

July 29th, 2016 · BC Landlord Membership, Tenant Screening, TVS Credit Check

 Vancouver landlords TVS credit check

When you buy a newspaper or watch the evening news BC landlords are used to seeing stories about tenant rights.

Whether it’s a story about tenant complaining about high rents, or the poor condition of a particular large corporate owned building or something else tenant stories are common in the news.

Many Vancouver landlords read a story in Metro News called Vancouver mayor calls for more renter protections as residents fight ‘greed evictions’. It’s the story of a new corporate landlord who is raising rents and other costs (including the price of laundry) in the apartment.

It’s important to have stories like this and tenant rights are important. But what about rights for landlords?

BC Landlord Rights

There are few stories about the problems landlords in British Columbia face.

We receive lots of stories from landlords who face serious challenges from their tenants. Sometimes these stories get media attention such as the tenant who moved in based on the landlords’ gut feeling and proceeded to stop paying rent.

However, most of the problems landlords face never get put in the newspapers or on the evening news.

What Kind Of Problems Are BC Landlords Experiencing?

Many different types of problems.

The most common we are told about are things such as tenants not paying rent, tenants leaving damages behind, and pets causing damages to the property which are far higher than the pet deposit covers.

Most of these problems are happening to small landlords who can’t afford to high full time staff to manage their properties or hire large property management companies to run their rental business.

How Can Vancouver Landlords Avoid Bad Tenants?

It’s important that you screen your tenants carefully.

Never rent to someone just because they have a big envelop of cash ready to give you. Ask yourself why they are so aggressive.

And don’t rely on your ‘gut instinct’ telling you the prospective tenant is a ‘good person’ because the worst tenants are very well prepared at story telling.

BC Landlord Credit Check

The best way to screen tenants is by running credit checks. A credit check provides you will real, valid information on the person who wants to live in your investment that costs you hundreds of thousands of dollars!

You can now join the BC Landlords Association for a low one-time fee (no annual fee) and start running credit checks for only $10/check.

Credit checks are excellent and very helpful for landlords. You get a credit score, employment and other information on the potential tenant and even a recommendation!

Protect yourself and your investment with BC Landlords Association membership and start running credit checks from your own home computer to make sure you rent to good tenants!

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Vancouver Landlords – Landlords Are Paying Record Prices for Rental Properties

September 3rd, 2014 · BC Landlords Association, LandlordBC, Latest News, Vancouver rental property

 Vancouver Landlords - Landlords Are Paying Record Prices for Rental Properties

With rental prices rising and premium properties hard to find Vancouver landlords need to make sure you rent to good tenants

The news from the Business in Vancouver website is that Vancouver landlords are paying record prices for rental properties.

The BIV report includes an interview with Dave Goodman. Goodman specializes in multi-family residential rental properties for the company HQ Commercial.

According to Goodman there has been a huge rush to purchase rental properties that “cash-flow” in the Metro Vancouver area this year.

Sales of rental apartment buildings rose 36 percent from January 2014 to June 2014 compared to last year and our suburban markets saw a whopping 212 percent increase in total sales.

In Vancouver the average price to buy an apartment rental jumped up 13 percent to over $302,000.

In one amazing deal a traditional apartment building new the University of British Columbia sold for a price that equals $1,200,000 per door.

Why Are Sales So Strong?

There are a number of reasons including:

1. Mortgage Rates

Mortgage rates remain historically low and investors are taking advantage of these low rates.

2. Vacancy Rates

According to the CMHC (Canada Mortgage and Housing Corp.) the vacancy rate for Metro Vancouver is very low at only 1.7 percent. This means there are a lot of tenants looking for rentals.

Rent to Good Tenants

With all the competition to buy rental properties it’s important investors and landlords focus on the importance of renting to good tenants.

It’s also important to know hiring a BC property manager to run your rental doesn’t mean your rental property business will flourish.

How Can I Find Good Tenants?

It’s important landlords make sure you screen your tenants carefully.

We’ve heard landlords complain about the difficulties in dealing with tenants bringing in bedbugs to their apartment.

There are also serial bad tenants out there who move in and then don’t pay rent.

Even in a pro-business province, Alberta landlords are making sure they run credit checks and using professional documents when they rent to someone.

Tenant Screening and Tenant Credit Checks

As we’ve written before, it’s absolutely essential landlords screen tenants carefully and run credit checks.

We received an email Richard Jiang who is a BC landlord and property investor. His advice to other landlords is:

“Be a landlord in Canada is very different compared to Hong Kong or Mainland China. In British Columbia the rules are for tenants even if they don’t pay rent so you must be careful prior to renting to the person. If you are new make sure to learn how things work in BC because so much of it doesn’t make sense for the landlord.”

How Can I Run Credit Checks On Tenants?

You can join the BC Landlords Association for only a low one-time registration fee.

That’s right, no annual fee, just a one-time registration fee.

After you become a member you can network with thousands of other landlords in British Columbia and throughout Canada.

You also get full access to the BC Landlord Rental Kit full of documents and applications.

You also get access to premium credit checks from Equifax and GARDA.

All for a one-time fee, it’s a deal that can’t be beat and will help you succeed as a landlord!

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Vancouver landlords – How Can I Run A Credit Check On a Tenant?

June 5th, 2014 · BC landlord credit check, BC landlords, British Columbia landlords, Vancouver landlords

 Vancouver landlords bc landlord credit check find good tenants

Vancouver landlords – Bad tenants target small landlords. Don’t become a victim and make sure you rent to great tenants with a tenant credit check

We wrote earlier this year to warn landlords about how important it is to screen your prospective tenants carefully.

As the BC Landlord Credit Check site explains, proper and professional tenant screening should always include a tenant credit check.

1. Vancouver landlord stuck with a scammer tenant

A news story from 24 Hours Vancouver is about a landlord in Vancouver is facing a tenant using the system to avoid being evicted.

The landlord is Salim Lakhani and his tenant has allegedly ripped off other tenants by posing as the landlord of the building.

Posing as the landlord, it’s alleged she has accepted damage deposits.

The landlord wants to evict her but is facing a tenant who is using “loop-holes” in the system to avoid moving.

Lakhani says the BC Residential Tenancy Act is unfair for landlords.

2. Six BC Landlords Ripped Off By Serial Bad Tenants

The story from CBC News about a couple of tenants in BC has been shocking.

The B.C. couple at the centre of a bad tenant investigation by CBC News, Susan and Chris Perret, have been served with an eviction notice again — the sixth time in two years and only one day after the CBC first aired the story.

How Can A Vancouver Landlord Avoid Bad Tenants?

Vancouver landlords should take a look at the British Columbia landlord site.

At the site they explain the importance for landlords to run a credit check on prospective tenants.

This way you can make sure you rent to good tenants and avoid the pros out there.

Even Alberta landlords are doing tenant credit checks and they have the most landlord-friendly laws around and a very hot rental market.

And successful Ontario landlords are always including tenant credit checks as part of their screening system.

How Can Vancouver Landlords Run Credit Checks on Their Tenants?

It’s now easier than ever.

You can join the BC Landlords Association for only a one-time fee of $99 and start doing premium credit checks that will tell you everything you need to know about a potential renter before you rent to them.

Yes, that’s right.

Only a one time registration fee.

Unlike other associations that charge you an annual fee. That’s simply not affordable for small landlords.

And you can start doing tenant checks right away!

Vancouver landlords – Find Great Tenants and Protect Yourself from Bad Tenants!

Join the BC Landlords Association for only a one-time registration fee and start doing tenant credit checks to ensure you find great tenants (and avoid the pros!)

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How To Find Good Tenants Vancouver: Landlord Credit Checks

March 16th, 2014 · BC Landlords Association Review, Landlord credit checks

 Vancouver landlords find tenants landlord credit check

According to the Vancouver Sun landlords don’t mind sharing their homes with tenants as long as some conditions are met.

For example, landlord Faisal Yonadim rents out his basement.

It’s a two bedroom unit and it helps him pay his mortgage each month.

Besides getting rent paid on time Yonadim asks for three main things of his tenants:

1. Please don’t be loud

2. Please don’t have all-night parties

3. Please be polite and considerate to our neighbours.

A Growing Number of Landlords in Vancouver

Yonadim’s situation isn’t unique

More and more homeowners in Metro Vancouver are renting out part of their homes and becoming landlords.

After all the typical price for a single family home here is over $900,000.

Having extra income from a rental suite helps pay the mortgage.

Yonadim became a first time landlord after his kids moved out and he had extra space in his home.

He admits he has been ‘lucky’ to rent to good tenants. 

He know there are lots of bad tenants out there.

He hears the stories from other landlords.

Lots of Great Tenants Out there…and the professional tenants you need to avoid

A CBC news report last year had the headline “Landlords Are Powerless as Tenants Get a Free Ride.”

This was about a small landlord who trusted a tenant and ended up losing thousands of dollars in lost rent, damages and garbage clean up after they finally moved.

This case was discussed at the British Columbia Landlords Association.

It’s must see reading for BC landlords.

Landlord Yonadim is Extra Careful in Choosing Tenants

He says he has heard lost of stories from landlords who weren’t as lucky as he was.

For example, landlords faced the following situation recently:

1. A tenant who turned out to be a violent meth addict.

2.Tenants sign a lease, agree to the rent, and then stop paying it.

3.Tenants change the locks without permission and deny entry

4.Non-smoking tenants who start smoking marijuana in the basement.

5. People claim they don’t have pets. Once they move in pets appear.

These are only some of the examples of the challenges Vancouver landlords face. 

How would you handle each one?

How Can Vancouver Landlords Find Good Tenants?

As we’ve written before, professional tenant screening is the key to success.

This includes employment and reference checks.

It should also include landlord credit checks.

Landlord credit checks go beyond what someone says and shows you the truth.

Here is what you find out.

-Does the tenant owe past landlords money?

-Do these potential tenants really live & work where they say they do?

-They want to rent from you but are they who they say they are?

These and many other questions are answered with landlord credit checks.

It’s why experienced Toronto landlords are joining associations and conducting landlord credit checks to fight off professional tenants there. 

And even Alberta landlords in a ‘landlord friendly’ province are doing so.

No matter where you are we live in a modern age where you can “trust”…but you also need to “verify.”

Join the BC Landlords Association

Once you become a member you can do credit checks for only $10 / check from your own home or office computer.

Services from the BC Landlords Association are excellent (see this review of the BC Landlords Association) and they will help you avoid professional tenants and rent to great tenants!

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Vancouver Landlords: Rent Increase Guideline 2014

January 4th, 2014 · Rent Increase 2014, Vancouver landlords

Vancouver landlords Rent Increase Guideline 2014

Happy new year and we wish the best to all Vancouver landlords in the new year.

If you are a Chinese residential real estate investor or landlord we also wish you the best for the upcoming Chinese New Year.

It’s the year of horse and that means we hope property prices and rents gallop fast!

How Much Can Vancouver Landlords Raise the Rent in 2014?

British Columbia landlords are subject to what is called ‘rent control.’

This means the government dictates how much landlords can raise the rent for your existing tenants in your rental properties.

Every year the Residential Tenancy Branch of the provincial government will publish the allowable rent increase on their website.

Question:      

How Much Can Vancouver Landlords Raise the Rent in 2014?

Answer:        

Vancouver landlords can raise the rent 2.2% in 2014

Isn’t that very low?

Yes, it is.

Many landlords in the province are unhappy with the low allowable rent increase.

You can go read what Surrey landlords think about it.

They aren’t happy.

How Does Our Rent Increase Compare to Other Provinces?

Landlords in Alberta don’t have any legal guideline.

What Does This Mean?

It means if you are a Calgary landlord or a landlord in Edmonton you can raise the rent as much as you want as long as you give three months notice of the increase to your tenants.

With vacancies so low and so many tenants out there some Lethbridge landlords are raising the rent by over $100 per month.

Does Anyone Have It Worse Than We Do?

Yes.

Ontario landlords are facing a very low rent increase guideline of only 0.8% in 2014.

And they aren’t happy about it.

To see what I’m writing about go check out what Ottawa landlords are saying about the Ontario rent increase guideline.

Barrie landlords are even more upset about not being to recover their growing list of expenses for the new year.

Vancouver Landlords 2014

This year we will continue to provide news, advice and tips for landlords in our amazing city.

Keep reading and we look forward for a terrific new year for landlords in Vancouver and all over British Columbia.

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Tenant Screening Vancouver: Use Tenant Credit Checks To Find Great Tenants

November 23rd, 2013 · Tenant Credit Checks, Tenant Screening Vancouver

 Vancouver landlords tenant screeing credit check

Welcome to our second post for all the Vancouver landlords out there.

Our goal is to provide you with news, tips, advice and chances to network.

With the high prices of properties in Metro Vancouver many homeowners are interested in creating a secondary basement suite to help rent out.

This rent will help pay for the mortgage.

The Canada Mortgage and Housing Corporation (CHMC) estimates there were more than 39,000 secondary rental suites in Metro Vancouver in 2012.

Opportunities for Vancouver Landlords

And being a landlord in Vancouver can be a great business opportunity.

According the Canada Mortgage and Housing Corporation the vacancy rate in Metro Vancouver is very low.

It’s only 1.8% in 2014 and there are lots of tenants looking for nice properties to rent.

In fact, many renters in Vancouver say it’s tough to find a decent place to live.

This presents a great opportunity for good landlords in the city.

Bad Tenants

It’s important Vancouver landlords know there are lots of great tenants out there, but there are also some bad ones.

What Are The Characteristics of Bad Tenants?

Bad tenants do things like:

1. Bad Tenants Refuse to Pay Rent

Yes, believe it or not there are tenants out there who just won’t pay the agreed to rent.

There is a story at the British Columbia Landlords Association website of a landlord who rented to what she thought was a nice family.

The family said they were victims of a previous bad landlord and needed a place to move in to.

They moved in on September 1st, paying September rent via cheque.

After they moved in the landlord found the check bounced.

The tenants didn’t pay any rent at all.

The eviction process took four months.  In those four months the landlord didn’t get one loony in rent money.

2. Bad Tenants Leave Garbage and Damages Behind

After she evicted them, the landlord saw the damages and mess left behind.

It cost her thousands just to hire dump trucks and start cleaning up the rental property the ex-tenants had destroyed.

3. Bad Tenants Cost You Money

When it was all totalled the tenants ended up costing this landlord not only months of stress but also a bill over more than $20,000!

How Can Vancouver Landlords Find Great Tenants?

Most tenants will respect you and your rental property.

However, as the above case illustrated there are tenants out the who will take you to the cleaners.

Not only are these bad tenants out there, they are growing.

They use social media to learn now to manipulate the system and share advice on how to cheat landlords out of tens of thousands of dollars.

Tenant Credit Checks

The landlord who lost over $20,000 because of bad tenants handed over the keys to her rental unit based on a feeling in her gut they were ‘good people.’ 

She also called an employment reference.  It turned out to be a fake company.

A tenant check doesn’t lie.

It provides you with a comprehensive financial history of the person who wants to rent your property.

Vancouver landlords know have the opportunity to do incredible tenant credit checks for a low time fee by joining the BC Landlords Association.

Invest in your rental property and make sure you rent to great tenants!

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Vancouver Landlords

October 25th, 2013 · Uncategorized, Vancouver landlords

 Vancouver landlords

 

Vancouver Landlords Let’s Get Started With Networking, Sharing Tips and Doing Great Tenant Screening!

We welcome all Vancouver Landlords to our new site.

Vancouver, Canada is a world-class city. There are so many advantages to living here and enjoying the ‘Vancouver life-style.’

Vancouver is also a popular place to invest. Especially investing in rental properties.

Great Opportunities for Vancouver Landlords

Vancouver is recognized as one of the world’s great cities. Lots of newcomers continue to come here, especially from Asia.

There are also a lot of people from across Canada coming to British Columbia.

Hard working people looking for opportunities…and also looking for a place to live.

Challenges for Vancouver Landlords (and landlords all over British Columbia)

The challenges facing Vancouver landlords and landlords all over British Columbia are growing fast.

Things are getting more difficult for residential landlords all the time.

Let’s take a look at some of these new challenges.

1. Despite huge new costs and taxes B.C. landlords can only raise the rent 2.2 percent in 2014

2. The government is debating whether or not landlord can have the option of not accepting pets.

3. There are tons of rental scams out there that cheat tenants and hurt good landlords.

4. Lots of places are only now starting to network and share advice.

5. Some tenants are not even paying rent

Let’s Start Networking and Demanding Change to the Laws For Landlords

Let’s Just Be Like Alberta!

We look East and envy the laws for Alberta Landlords.

The reality is the situation in British Columbia is much different.

Tenant Screening

Vancouver landlords need to face our challenges head on!

We can do this, and succeed, with great tenant screening.

The B.C. landlords association gives British Columbia landlords the ability to do high quality, low cost tenant credit checks.

They also give us the way to do high quality, low cost criminal checks.Vancouver Landlords let’s start networking and sharing advice and tips!

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