Helping Landlords Make Good Decisions

I am often asked what recommendations I have when selecting a tenant for a condominium rental in west Toronto. There has been such demand for rental property lately and there does seem to be an ever growing stream of Condominiums for rent in Toronto.

You must without fail; have the tenant complete a credit application and you or I, verify that they indeed do have the employment specified, call their previous landlord (not where they are now!) for a reference, do a credit bureau seeking credit information.

In the absence of a formal lease agreement the Offer to Lease that I provide can be sufficient. I would urge you do include a copy of the Condominium Board Rules and Regulations.

Peter Mearns from Bolton Lock and Security recommends that the locks and keys be re-pinned for the security and peace of mind of both the new tenants and the landlord. This eliminates any confusion about who might have extra keys. The condo management office will require a copy of the new keys for emergency access reasons. Please check with the management office if the MASTER keys can be copied by a locksmith. Peter can be reached at 416 819 5625. This additional effort is a small and modest investment in peace of mind.

In addition to the keys; I always try to take digital still pictures of the interior condition of the property, bathroom and kitchen counters, hallway and bedroom flooring conditions. While the property will obviously have someone living inside, the condo apartment will be subjected to normal wear and tear, damage from a prospective tenant is now easier to prove as they signed and acknowledged receipt of the pictures prior to moving in.

If you have a clear plan and follow good landlord rules, YOUR TENANTS ARE YOUR CUSTOMER, treat them with respect and dignity, they may stay for years until you need to find another tenant. If you have a property to rent and manage I would be pleased to meet to discuss how I can help you to become a good landlord.