Posts Tagged ‘Newfoundland landlords’

Nova Scotia Landlords Take Control Of Your Rentals! It’s Time To Join the NSLA, Start Winning & Start Running Credit Checks To Find Great Tenants

Sunday, June 12th, 2016

man in suit showing a signboard with the different ranges of the credit score: excellent, good, fair and poor

 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

A Smart, Inexpensive Invest Can Save you Thousands of Dollars and Months of Stress Down the Road!

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.

Nova Scotia Landlords: Find Good Tenants

Wednesday, January 1st, 2014

 Nova Scotia landlords no tenants

Investors become landlords because we see a business opportunity.

People need nice places to live in and investing in rental property seems like a great industry to be part of.

You’ve read some people who became landlords and although it wasn’t easy they earned enough profits to consider themselves wealthy.

With their new financial freedom they could help out family members, pay for their kids’ university tuition and even take a trip or two.

Challenges for Nova Scotia Landlords

In past blogs we’ve discussed some of the challenges Nova Scotia landlords face.

One of the biggest challenges is what you face if you rent to bad tenants.

It used to be we thought all the worst tenants were in Ontario.

And they still are, as this Ottawa landlord can attest to.

Landlords all over Canada face the ‘bad tenant’ challenge, even Manitoba landlords face this challenge.

Bad Tenants In Nova Scotia

We wrote before about what happened to small landlord Lee Cowan.

She’s the landlord who rented to a group of tenants and after they moved out (without proper legal notice) she found they had trashed the place including:

– Appliances destroyed

– Basement was flooded and now smells horrible and has damaged the enter unit

– Cabinets have been ruined

– Drywall has been destroyed all over

Lack of Tenants

Another problem landlords in our area face is something that isn’t common in other areas of Canada, even places like Manitoba.

It’s a lack of good tenants.

As a recent CBC News report illustrated landlords can find enough renters to fill their properties.

Some landlords are even offering move theaters and gyms where tenants can work out in their rental buildings.

And get ready for this…some landlords are offering tenants free TVs, yoga, rebates from local dentists and even Apple Ipads if you rent from them.

Landlords in Nova Scotia, PEI and Elsewhere in the Region

Have you found good tenants for your rental properties?

What do you think will happen in 2015?

Discuss this in the Nova Scotia Landlords Forum