If you are a landlord in Canada, the most important thing you want to have are good renters. They are relatively difficult to find because you cannot know a person fully after your first meeting. When you talk to interested tenants, they would always tell you the things you want to hear. You cannot expect them to be completely honest. Before you look for a good renter for your property in Canada, you need to establish what a good renter is first. You have to define what you are looking for. This will help you in your quest on how to find good renters for your rental properties in Canada.
Who is a good tenant?
A good tenant is someone who reads your conditions and rental agreement. He must also adhere to these conditions. In addition, the renter should take care of the property as if it was his own. This means that he is willing to keep the property clean and in order. He should also see to it that if he invites visitors over, they would respect the property and would not cause any intentional damages.
It is also important that the tenant is respectful. If there are any repairs that need to be attended to, he has to contact you right away. He can either talk to you personally or write you a letter if your schedules do not meet. Most importantly, he should notify you ahead of time if he plans to leave the property. This way, you will be able to find new renters to replace them right away.
Finding a good tenant
Now that you know what type of renters you are looking for, you need to know how to find them. In order to find the best renter, you should learn how to attract potential renters. One way of doing this is to under-price the property. It could be 5% less than what is offered in the market. People who are looking for a good deal will surely line up for your property. This way you can choose the best renter.
You should know your competition and find a way to gain competitive advantage. Keep in mind that tenants have a lot of options. Give them a reason to pick your property. One way of doing this is to find out how other properties look like. What are the amenities they offer? What is the edge of your property compared to theirs?
Advertise your desire to find renters. You can post adverts on the local papers. You can even ask for referrals from existing tenants. People should know that you are looking for renters. This way they can refer tenants that are looking for new homes. You can also be specific with the kind of renters you prefer. This will save you the trouble of screening out the people you do not want to welcome in your property.
Find a way to keep good renters. If you have found a wonderful tenant, develop a strategy to make them stay. You can give them discounts if they are able to stay in the property for more than two years. This will encourage your renters to stay longer in the property.