Take Action and Take Control Of Your Rental Business! Complaining About The System Won’t Help
Nova Scotia Landlords Need To Start Making Credit Checks Part of Your Tenant Screening System
We keep hearing about landlords facing stress and severe financial loss when they rent to bad tenants. It’s almost a never ending story and it goes like this.
Good Trusting Landlords
Good landlords have a nice, well-maintained property for rent. Being good, honest hard-working people and offering a terrific rental, the landlords put up the property for rent. They put up ads in the local paper or online and look forward to potential replies.
Want To Find Good Tenants ASAP To Cover Costs (especially the mortgage!)
As they are rental property investors, they are also eager to get the property rented as soon as possible.
After all, they aren’t a multi-million dollar corporation they are just normal hard working people with plan for a good future. Small residential landlords have jobs and have families. They also usually have mortgages on their income property.
They hope they can find a good tenant fast who will help them cover their mortgage and maybe even provide a little bit of cash-flow each month. This extra money will help with things like minor repairs in the property and replacing things the tenants want replaced.
Landlords Have Honest and Positive Intentions
Many small landlords were renters themselves not that long ago.
And many have friends, co-workers and relatives who are tenants and are great tenants! These landlords are good, decent people and have put a great rental property on the market for good, decent tenants to rent.
Nova Scotia landlords want a win-win situation with themselves being great landlords and hoping to find great renters.
Landlords See The Best in People, and the Best in Potential Tenants
Because they or their friends or relatives rent, they expect all tenants to be good people who pay their rent on time and respect the landlord and the rental property.
Landlords Are Trusting
Being good people landlords see the best in people. So when tenants want to rent from them most Nova Scotia landlords trust them and trust they will pay the rent on time and be good renters.
After all, when they used to be tenants they paid the rent on time and respected the landlord and the rental property.
Landlords Get Burned
In so many cases we have seen landlords follow this pattern…and get burned! Just like what happens to Ontario Landlords.
We see this over and over in the news.
For example we see this in Global News report GLOBAL NEWS HEADLINE: Hacket’s Cove Landlord Says the Residential Tenancies Program Isn’t Helping Him
In this story a tenant didn’t pay rent for months. The landlord found the system failed him. To get the tenant out he decided to sell the property!
Landlords Can Protect Ourselves
We’re landlords too. We know landlords who got burned and sell and look to invest in other places including Florida and in Ontario to become a Newmarket landlord or even just give up completely.
Make Credit Checks Part of Your Tenant Screening System
Landlords can join the Nova Scotia Landlords Association for a low one tie registration fee. This comes with lots of services including the ability to run premium credit checks very inexpensively.
Invest In Rental Business and Your Future Instead of Whining About the System
Instead of whining the system isn’t fair (reality check: it isn’t fair!) become pro-active an protect your rental business. You can join the Nova Scotia Landlords Association and begin to run credit check for a very low fee.
Credit checks tell you “who you are really renting to” and help you find great tenants (and avoid the liars and scammers out there).
Imagine If Every Landlord Ran A Tenant Credit Check
This would mean good tenants would have lots of great choices and the bad tenants out there would be out of luck. It would mean Nova Scotia landlords would have a fair playing field and there would be lots of great housing for tenants.
Nova Scotia landlords there are lots of terrific tenants out there who want to rent from you.
The problem is only one bad tenant can cause so much financial grief and even leads some people to get out of the business. With careful tenant screening you protect yourself and also help all the good tenants out there who are looking for a great rental property and a great landlord.