Listing Your Home for Rent? You’ll Want to Check These 4 Types of References

One of the biggest challenges landlords face is finding quality tenants. While most landlords expect potential tenants to provide them with a list of references, it’s important that you understand how to get the most value out of this process.

LeaseOurHouse.com helps connect landlords with quality tenants. Still, you will be expected to screen those tenants in order to decide if they are the right fit for your rental property.

In this article, we will explore the 4 types of references that, as a landlord, you will commonly encounter when listing your home, apartment and condos for rent.

1. Understand the Types of References

There are many different types of references you will encounter when searching for tenants for your home for rent. We like to break them down into four specific categories.

Income Reference

Income references are the best way to validate a tenant’s income, how much money they earn, and whether they can afford the property they are looking to rent. You can use an income reference to check how truthful a tenant was. One way to accomplish this is to search online for both the company and company phone number as opposed to calling the number that the tenant has provided to you. This will show you whether a tenant provided you with legitimate credentials, or tried to get a friend to lie about their employment situation.

Remember, you want to find a tenant that can afford to pay their rent on time over the course of a 12-month lease.

Professional Reference

Professional references often include colleagues, employers, and other professional individuals who fall out of the personal sphere. Much like income references, you want to use professional references to validate the integrity of a tenant. Most tenants provide supervisors, managers and or colleagues.  Again search online for a company number and call the company the reference works for and ask if the supervisor/manager they listed works there and confirm their position and ability to provide a reference.  Speak to them and try and find out additional information that will shed light on the tenant’s character.

Personal Reference

Personal references should be used to get a glimpse into the type of people that a tenant is friends with. While it won’t tell you everything about a tenant, many times you can determine the character of a tenant by the type of friends they associate with. You can also ask the personal reference where the tenant works as a lot of personal references are caught off guard by this question.  Again this helps you eliminate tenants that are not honest, trustworthy and not suitable for your home for rent.

Former Landlord Reference

Former landlord references are arguably the most important reference you can contact. Like you, they once screened the tenant you are considering. Keep in mind, you want to try and contact former landlords who are no longer renting to a tenant. Current landlords will sometimes say what you want to hear in order to get rid of a problem tenant.

Still, unlike the other types of references, a former landlord understands the business side of renting and will likely answer any relevant questions you may have. You want to ask former landlords about a tenant’s habits, if they were respectful of the home for rent, paid their rent on time, and probe for any other specific information that will help you make your decision.

About LeaseOurHouse.com – Your #1 Homes for Rent Platform in Ontario

It’s important to understand the different types of references when it comes to finding the right tenants for your home for rent. You’ve spent a lot of money buying, renovating and protecting your valuable properties.

LeaseOurHouse.com helps you find high-quality tenants through our new, interactive rental platform. Our platform helps landlords like you rent your properties to tenants in Toronto, Oshawa, Ajax, Orillia, Hamilton, Cambridge and throughout Ontario.

Our rental website requires tenants to sign up and fill out a full application, helping eliminate those who aren’t serious. Stop wasting your time on bloated classifieds. Visit LeaseOurHouse.com today if you want to simplify the process of finding high-quality tenants.

5 Things to Consider When Searching for an Apartment, House or Condo for Rent in Ontario

Whether you’ve found a new job across the country or simply think you need a change of atmosphere, finding a new home for rent is a common process most people will go through at some point in their lives.

Don’t think that renting is merely about paying the monthly rental fees. There’s a lot to consider in such a life-changing decision. Here are 5 major considerations to be taken when you are searching for your new home.

1. The Monthly Rental Cost

Regardless of how nice a property looks on a website, it won’t be any use to you if it’s out of your budget. Moving isn’t an inexpensive process, so before agreeing to rent, save up enough to cover the upfront costs and any long-term charges that may be applicable.
Common upfront rental costs include:

  • First and last month’s rent
  • Moving costs
  • Deposits and new user fees for utilities if you are paying for them
  • Any additional costs for furniture and household items required for the new premises

Some long-term costs, in addition to rent, include:

  • Monthly payments for items such as utilities, parking, groceries, gas, and other month-to-month expenses if and when applicable.

Generally, your rent payment should not exceed one third of your net income. Keep in mind that if your income documentation does not represent the above, the landlord may not trust you can pay your rent on time.

2. The Rental Location

We often recommend you choose an apartment, house, property, or condo for rent that’s in your price that is also close to highways, good schools, public transit, as well as amenities like grocery stores, restaurants, and other useful locations.

If you’re looking for something more isolated, living close to the amenities you need most may prove useful to you.

3. Downsizing Your Inventory

Moving is a big lifestyle change. Use the opportunity to downsize your possessions. Prioritize which of your belongings are worth keeping and which are simply taking up space. Floor and closet space will likely become an issue over time as you continue to purchase new household items.

If you’re moving to a smaller location, it will be convenient to downsize or you will need to rent storage space to store your superfluous possessions. Don’t forget, renting storage space is an additional cost that you’ll need to budget for.

4. Have Your Documents Ready

Before you can successfully rent a new apartment, house or condo, you’re going to need to gather a few documents. Some examples of documentation requested by a landlord are as follows

  • A picture ID such as a driver’s license
  • Proof of income, pay stubs, and other income verification
  • Professional references from past landlords or managers
  • A recent credit check, or the means to obtain a new one

You also have to consider the rental contract itself. Take the time to understand everything your rental agreement entails, as it lays out your rights and should clearly outline all pertinent details to your rental arrangement with the landlord. Now is the time to ask questions i.e. pets, roommates; not after the rental agreement is signed.

5. Note the Condition of the Place

One thing many people don’t think about when moving into a new place is to document the condition that the property is in when they move in. Documenting damaged areas is an essential way to protect yourself should your landlord try to accuse you of causing damage that you didn’t do.

LeaseOurHouse.com provides all tenants with a detailed Home Inspection Form that highlights the condition of a property at the time of move in, saving you from potential headaches at a later point.

Other Considerations

  • Plan out how you will be moving. Will your friends help you ship everything via car, or will you be contracting a moving company?
  • If you own pets, know your landlord’s policy on them in advance.
  • Look for landlords that respect your personal space and right to privacy.

LeaseOurHouse – Ontario |Scarborough, Markham, Barrie, St. Catharines, Kingston, Ottawa – Ontario

If you’re looking for an apartment, house, property, or condo for rent in the Ontario area, start your search with LeaseOurHouse.com.

Our online rental platform features up-to-date listings to save you time and money and helps you find more secure ways to pay first and last month’s rent.

  • Renting out a new living space is a big lifestyle decision that requires careful planning.
  • Consider the cost, location, paperwork, and landlord’s policies before signing your rental agreement.
  • Look for new apartments, houses, properties, or condos for rent on LeaseOurHouse.com’s secure, economical and convenient online listings.

Finding the right apartment, house, property, or condo for rent with LeaseOurHouse.com is simple. We have simplified the searching process to make it easier than ever.

  • Receive exclusive incentives and discounts directly from landlords working with LeaseOurHouse.com.
  • Benefit from a transparent and hassle-free rental application process.
  • We provide you with a detailed Home Inspection Form.
  • All deposits are held by us until you receive the keys, so you never worry about losing your deposit.
  • Our LeaseOurHouse.com website offers various discounts on packaging supplies, moving companies, and other related services.
  • Take advantage of the easiest rental application and payment process available online. Everything is handled digitally through our app.

Are you ready to start your next property search? Contact LeaseOurHouse.com today to get started.

5 Things You Should Consider When Listing Your Home, Apartment, or Condo for Rent

With housing prices heating up in Toronto and the GTA, many individuals look to renting as an affordable alternative to purchasing a home. As a landlord, there are many things you need to be aware of if you want to successfully list your home, apartment, or condo for rent.

In this article, we are going to explore 5 things we believe every landlord should know.

1. Free or Paid Listings?

This is a question that many landlords often find themselves asking.

Free listings seem beneficial on the surface, but in our experience, they are riddled with people who will waste your time because of how easy it is for them to inquire without any commitment.

In contrast, paid listings provide no guarantee of results. You may find yourself paying a decent amount and having nothing to show for it.

LeaseOurHouse.com provides an alternative. While our listings are free, we only take a fee if your listing gets rented out. In addition, tenants need to sign up with a comprehensive registration application, so you will typically only receive serious inquiries.

2. Rental Applications

Rental applications are a great tool to use as they allow you to collect relevant information upfront. An application will often detail how many people will be living in your home or apartment for rent, their names, and other necessary references and rental information.

This will simplify the credit check process and provide you with detailed information about the different tenants you are considering.

3. Credit Checks

Credit checks are a necessary tool for screening tenants. You need to treat your home or apartment for rent like a business, and that means credit checking your tenants to find the best ones.

A tenant’s credit score will help you gauge if they pay their bills, miss payments, overspend, and other useful information. Your goal is to collect rent every month, not chase after tenants who are behind on their bills.

Typically, a solid tenant will have a credit score of 600 or more. While this rule isn’t set in stone, it serves as a baseline number. You will want to assess each credit application individually, but also consider the

tenants situation. A low credit score tenant that’s rebuilding their life may be the best one you ever have. In order to find the best tenant, you need to assess both their credit scores and their character.

4. Social Media

Social media screening is a controversial one when it comes to screening candidates for your home, apartment, and condos for rent. Still, it serves as a useful tool to judge the character of potential tenants you are considering.

If a tenant’s social media profile is set to public, it is fair game to look at it. When screening a potential tenant’s social media account, you want to check certain things such as whether they have pets, if they party a lot, and if they engage in activities that may damage your rental property. Another thing to look for is whether they are speaking poorly about their current landlord, and if their criticism is warranted.

5. Move in Property Inspection

We often recommend that landlords perform a property inspection with approved tenants for any of their homes, apartments, and condos for rent.

A quick inspection will allow you to document any current damage and get the tenant to sign off on it. By doing this, you will be able to highlight any new damage in the future. While you cannot hold a tenant accountable for wear and tear, they are accountable for any serious damage caused by poor behavior.

If you need to go after a tenant for damage caused to your rental property, a property inspection document provides you with a solid legal starting point in such cases.

LeaseOurHouse – Ontario – Toronto, Oshawa, Ajax, Orillia, Hamilton, Cambridge

Are you a landlord with a home, apartment, or condo for rent in the province of Ontario?

You will benefit in many ways by listing your property for rent on LeaseOurHouse.com. We’re a free service offering a full, end-to-end solution to home rentals that simplifies the entire rental process.

As a landlord with the objective of renting out your premises below are some of the benefits you will enjoy:

  • We offer free listings that only charge 25% of the first month’s rent if we find a tenant that you approve of.
  • Your home, apartment, or condo will be advertised on LeaseOurHouse.com’s social media channels, driving additional traffic to your listing.
  • Tenants can only view your property if they have created a full account with their personal info.
  • We do not offer one-button replies, ensuring that you only communicate with interested tenants.
  • All applications require tenants to supply their personal info, references, income details, and a credit check.
  • We provide you with additional tips for checking references and how to get the most out of this process.
  • Landlords are provided with proper move in/out property inspection forms that they can get their tenants to sign off on.
  • Access to a customized lease (New Ontario Lease) with the ability to add additional clauses.

We take the worry out of the entire rental process, making it as simple as possible. List your property with LeaseOurHouse.com today and experience the difference.

Eliminate time wasting potential tenants!

Did you know that leaseourhouse.com helps eliminate time wasters and professional tenants?

Time-wasters

Yes you read that correctly! We know how valuable your time is and there is nothing worse than those people that click the one button replies and respond to 50 plus rental ads and then can’t even remember what properties they responded to.

You post your property on a buy and sell site and you get lot’s of replies, so you get excited that your property will rent quickly. You start to go through all the replies and realize that almost all of them say a variation of the exact same thing, “is this still available”. That infamous one button auto reply. You respond to all the replies and you get a few messages back from potential tenants asking, what property this was for? I almost always cringe when I see these replies. Then you get a few replies that sound good and you set viewing appointments, and the potential tenants either don’t show up or they do, and they tell you that your property is not what they were looking for. We have all gone through a variation of this! Yes you can screen every single person and interview them to see if the property actually meets your criteria before scheduling a viewing, but then you waste more of your time and end up with next to no showings? Hard trade off right? These are just a few of the problems, my peers and I have faced over the years as landlords.

Here are few of the things that we have built into leaseourhouse.com, to help eliminate these problems using psychology and human behavioral patterns.

  • Tenants that are interested in a property, have to go to a detailed property listing on our website.
  • We ensure that property listings on leaseourhosue.com are complete and paint the entire picture for a potential tenant, leaving very minimal questions unanswered after seeing a properties listing.
  • Tenants can’t click one button replies on our website, they have to create accounts with their personal information before they can even submit a viewing request and/or respond.
  • In order to see a property, a potential tenant has to submit a viewing request via their account on the leaseourhouse.com system, that then gets tracked.

So what does this mean and how does this eliminate time wasters?

  1. We always find that people put their best foot forward and if someone can’t follow the simple instructions up front, it raises a red flag in terms of being a good tenant.
  2. It shows us that a potential tenant is willing to do work to create an account with their personal info and to submit a viewing request for a set time and a set date, if they want to see your property. Time wasters are not willing to do all the work for a simple viewing request, they want the one button replies and an address.
  3. Genuinely interested potential tenants are willing to do these steps.
    It is a lot less likely that you will ever get a viewing request and have someone come to see your property if it does not meet their criteria, as they have had to go to the full property listing with all of your properties details in order to submit the property viewing.
  4. Tenants are informed upfront in the property listing that they will be required to perform a credit check through our system. This eliminates the option for a tenant to supply you with a great looking fake photo shop credit check.

A lot of professional tenants and time wasters will not use our systems because of the above items. When you get a viewing request through leaseourhouse.com, that potential tenant is already 100x further ahead than any other lead you will get. When a viewing request is scheduled, the system still provides you with the potential tenants phone number in case you want to text or call then before you drive a distance to show the property and/or ask a few more questions. The great thing is that the appointments get tracked in the system and you can even set appointment reminders.

At the end of the day, no one can ever eliminate 100% of the time wasters and professional tenants, but we can definitely put our best foot forward and take the necessary steps to eliminate as many of the time wasters and professional tenants as possible.

Let leaseourhouse.com help you put your best foot forward! Your time is valuable, so let’s start treating it that way.

www.leaseourhouse.com – the evolution of home rentals!

Marcin Zalewski – President/Founder

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Leaseourhouse.com saves its clients money … in more ways than one!

Apple

Leaseourhouse.com has partnered with Apple Self Storage to offer its clients, a 15% discount on packing supplies. This is especially great for all of the tenants that use the leaseourhouse.com service, as they’ll be moving to their new rental properties and needing packing supplies in the process.

Leaseourhouse.com is in the process of adding on a number of exclusive client discounts, that will directly benefit Landlords and Tenants but will only be available to leaseourhouse.com clients.

One more great reason to use the leaseourhouse.com services.

LeaseOurHouse.Com Landlord Newsletter, Helpful Tips & Hints- December 2016

It’s very imperative to start off on the right foot with a new tenant.

We recommend for you to always get your new tenants a small welcome gift and leave it on the counter with a thank you card.  This doesn’t have to be a lavish or expensive gift, as a little goes a long way.  The idea is to say thank you to your client for their business and at the same time, welcome them to their new home.  A gift also sets a positive start to your relationship with your tenant, and sets a president for a positive relationship for the term of the rental.  When someone gives you a birthday gift, you subconsciously feel that you have to return the deed and get them a birthday gift when their birthday rolls around.  Giving your tenant a small welcome gift has this same effect, statistically this is how the majority of people tend to think.  In this case you are not looking for a gift in return but this small gift helps you create a better tenant, as they will now subconsciously feel that they owe you something.  You will be amazed at how far this little gesture can go.

Remember your tenants birthday and send them a card or an email with birthday wishes.  Check in with your tenant once in a while to see if they need anything and to see how they are doing.   Communication is a key ingredient to a good tenant.  If you treat your tenant with respect and start the relationship off on a good note, the tenant will be more likely to reciprocate and take better care of your investment, they will be more likely to stay longer at the property, they will tend to give you more notice if they do decide to move, and they will be more inclined to leave your property in better condition when they do finally move out.

Do everything that you can, to create a positive reciprocal relationship with your tenant right from the start.  Show up on time for property showings and always be respective your tenants time.

Marcin Zalewski – President/CEO – LeaseOurHouse.Com

To subscribe to our Landlord Tips and Hints Newsletter please follow this link:

https://www.leaseourhouse.com/newsletter

LeaseOurHouse.Com is a complete end to end online rental platform for landlords to post properties for rent, manage viewing requests and appointments, receive rental offers with references and credit data, customizable lease templates, first and last months rent collection, move in/move out inspection forms with detailed instructions, a summary of what landlords and tenants can and cant do based on geographic regions, access to all landlord eviction and rent increase forms, automated monthly rent collection options and more.   LeaseOurHouse.Com simplifies the entire rental process, right from your smartphone, tablet or PC and provides everything from posting a property until your tenant moves out.  Give us a try today.