There is a whole process of due diligence that is followed, which includes : getting the tenant to fill out a rental application form, cross-checking on tenant’s credit history, verifying job or referrals of the prospective tenant. For newcomers or new immigrants, who have no job or credit history in Canada, the tenants are courteously asked to show a proof of available funds that will give landlords the confidence about receiving rent regularly. Newcomers are also asked to bring a reference letter from the previous bank from the last country of their residence. In some cases, tenants may also be required to provide a guarantor in Canada with a good job and credit history.
How do you pre-qualify tenants?
About the Author: Amit Kalia
Amit is a full time local REALTOR® since 2003. Currently he is with RE/MAX Real Estate Brokerage Inc. in Mississauga. RE/MAX is Canada's #1 real estate company. He is supported by a very strong Sales and Marketing team. Together with his team, Amit has been serving property sellers, first time buyers, real estate investors, landlords, renters, new immigrants to Canada and non-residents. Amit and his team specialize in Square One condos and also work in many other Mississauga neighbourhoods. Team Amit Kalia offers a 30 Days Sold Guarantee to Sellers. Amit's team also provides exclusive A La Carte property management services for their investor clients and landlords.