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Tenant Screening Newmarket – Tenant Credit Checks

November 29th, 2013 · 1 Comment · Newmarket landlords, Tenant Screening

 Tenant Screening Newmarket Tenant Credit Checks

As the Town Grows Tenant Screening (Including Credit Checks) Is A Key Component to Becoming a Successful Newmarket Landlord

Newmarket landlords know investing in residential real estate in our town can be a profitable and rewarding experience.

As we wrote in our last blog Newmarket has been designated as what is called an Urban Growth Centre under provincial legislation know as the Places to Grow plan.

The Signs of Newmarket growing fast are everywhere

You can see the growth just by walking or driving around.

For example, the improvements to Davis Drive look to be finally coming to a conclusion.

South Lake hospital is becoming an important regional centre.

On the business front the Town of Newmarket won a Google eTown award for 2013.

Newmarket was one of only 5 cities or town to win the award which shows local business are using the interest in a positive and successful way.

Challenges for Newmarket Landlords Exist

Despite all the growth it’s not easy to being a landlord in Newmarket.

While there are lots of great tenants out there, like in the rest of Ontario there are also some not so good tenants as well.

If you want examples of what landlords all over Ontario face take a look at the Ontario Landlords Association forum.

Take a Drive Around Newmarket And Look Closely

Go down roads such as Longford Drive and Harrison Drive (some people call it the ‘Dog Patch‘) and look closely.

1. Devastated Houses

Houses with boarded up windows due to tenant destruction

2. Landlords and Investors Who Don’t Want To Be Landlords Anymore

All the ‘for sale’ signs in the area as investors want to get out of the landlord business

3. Garbage Bins

At the beginning of the month you will see those huge garbage bins in driveways as landlords need to spend thousands of dollars cleaning and repairing properties due to tenant damages.

You will also see lots of houses that obviously have an secondary unit or basement rental apartment (ADU) without having an “N” plate and being registered with the Town of Newmarket to ensure safety.

Sadly, the Town of Newmarket doesn’t care about unregistered, illegal rental units.

Tenant Screening

It’s not just the Davis Drive and Longford area where you can see evidence of landlords having challenges all over Newmarket and Aurora.

There are lots of bad tenants in Newmarket and they want to rent your property.

Renting To Good Tenants

There are lots of good tenants in Newmarket.

You just have to make sure you find them.

Experienced and successful Newmarket landlords know tenant credit checks are an absolutely essential part of a good tenant screening process.

You will be able to view a potential tenants complete financial history. And tenant credit checks don’t lie.

How Can I Do Tenant Credit Checks?

The Ontario Landlords Association gives residential landlords premium tenant credit checks for a low cost.

And you can do them in minutes from your home or office computer.

One bad tenant can cost you thousands of dollars.

Successful Newmarket and Aurora landlords make sure tenant credit checks are part of their screening process before they hand over the keys.

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