Are you a landlord in Vancouver, BC looking to find reliable tenants for your rental property? Look no further! Here’s a 7 step guide to finding great tenants and ensuring a smooth rental process.
Residential Tenancy Resources
To understand what’s involved in finding and keeping great tenants, use resources available through the Residential Tenancy Board to stay updated on regulations and access approved forms at BC Residential Tenancies. Visit: BC Residential tenancies. The resources are regularly updated as the rules evolve.
Where to Find Great Tenants: Effective Marketing
Advertise your rental property through reputable platforms with attractive photos, detailed descriptions, and competitive pricing to attract quality tenants. Make your property sound more enticing than other properties that are available for rent in the area. List your property on popular platforms like Facebook Marketplace, Zumper.com, Craigslist.com, Kijiji, and Padmapper.com. Craft detailed listings with screener questions and transparency about credit and criminal checks.
Credit and Criminal Checks
Ensure thorough screening by obtaining signed application forms and photo IDs. Make sure your application form makes reference to the credit and criminal checks you’ll be performing and be sure to get the applicant’s signature. Use trusted resources such as Credit Karma and tenantverification.ca for comprehensive background checks.
Tenant Reference Check and Deposit
Conduct comprehensive background checks on potential tenants to assess their reliability and financial stability. Verify references provided by applicants by calling past and present landlord references and employers, to find out about their rental history and employment stability. Conduct online research on prospective tenants’ social media profiles. Trust your gut and pay attention to your intuition when assessing potential tenants. If something feels off or raises concerns during the screening process, proceed with caution. Prioritize collecting necessary paperwork, fact checking and getting deposits before handing over keys.
Professionalism and Clear Communication with Tenants
Maintain professionalism throughout the screening process, being responsive, organized, and respectful in all interactions with potential tenants. Establish open and clear communication with potential tenants to address any questions or concerns, building trust and rapport as you go.
Ensure Legal Compliance
Familiarize yourself with relevant rental laws and regulations in Vancouver, BC, ensuring compliance throughout the tenant selection process. You can contact the Residential Tenancy Branch if you have questions or concerns.
Welcoming Your New Tenants
Make a positive impression by welcoming tenants with small tokens of appreciation, like a $25 GC or gift basket, fostering a harmonious landlord-tenant relationship. This encourages tenants to take good care of your property.
Finding exceptional tenants preserves your property’s value and ensures a steady income stream. By following these steps and leveraging trusted real estate advisors or property managers, you can navigate the rental market with confidence and success.
