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Old 01-05-2016, 05:15 PM   #1
GreenLantern
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Default Renting advice

I was just curious, as the one renting out the property, if you could offer one piece of advice for picking your final candidate what would it be?

My wife and I are currently showing our basement suite and I have found it really tough to make a decision on who to pick.

Anything is helpful, thanks.
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Old 01-05-2016, 05:51 PM   #2
GreatWhiteEbola
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All things being equal? Lottery, or cage match!
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Old 01-05-2016, 10:00 PM   #3
fundmark19
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Informal references if you can. Call up their current and old employers and see what you can dig up on them.

End of the day I normally just go with my gut feeling on first impression
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Old 01-05-2016, 10:01 PM   #4
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I used to be a leasing agent ages ago and without question the credit check is the most important thing. You can't make that one up. Short of that, assets over employment. If someone can't pay their rent, they have probably lost their job anyway so any judgement you get won't matter if you can't seize their paychecks. But that paid off car is a 3k bonus sitting in your driveway.

If you have nothing else to go on, your gut feeling is usually not a bad bet. Personally I've had problems with tenants only when I've been too eager to get a place rented and took the first live one I got. If you're looking for a demographic, students are great, they don't seem to realize not paying rent is an option. Noise can be an issue with basement suites though. Also if your suite isn't legal, a pissy tenant can cause you a nightmare. That's something you'll just have to get a feel from the tenant.
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Old 01-06-2016, 09:41 AM   #5
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Thanks for the responses guys, I guess maybe I should have just put this in the Off Topic forum and opened it up to all kinds of view points.

The suite is legal, that was a sticking point with my builder but he got it passed the final inspection.. they were not easy on him which is good for me.

I got a few more to show it to so we will see what they hold, I did show it to a pastor intern who was perfect but he chose another suite over ours :/ I offered to drop the rent for him but he said it was the location that made the other place better for him. Hard to argue with that.
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Old 01-06-2016, 09:45 AM   #6
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I find references pretty useless as anyone could ask anyone to give them good reference. How do you know the person on the other side of the phone is really their previous landlore and not just their drinking buddy?

To me, job pattern and renting pattern are the keys as people don't generally fake these kind of things.
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Old 01-06-2016, 12:46 PM   #7
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I'm with OMG!, the credit check is probably the most important tool. That being said doing the full background checks such as employment & previous landlord are also good investigation tools.

There are some great questions to ask previous landlords such as confirming the address, amount of rent paid, any rent arrears, any pets, noisy vehicles and the best question - 'Would you rent to them again?'. It's amazing how many times I have called landlords and their tenants didn't even tell them that they were vacating or looking for another place. What a shock!

In terms of employment information, anyone can write down their friend's name and ask them to pretend they are a boss of the applicant. I recommend calling the applicant's company directly (finding the company number through google) and then asking to speak to the HR department or the Manager. They can usually confirm all the information you need in terms of employment and salary.

Lastly, if two applicants are both equally qualified to your standards and willing to pay the same amount for the same term, pick the best one according to your gut!

Hope that helps
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Old 01-06-2016, 08:30 PM   #8
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Check their facebook page.
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