Finding good tenants is a task that is as challenging as finding the proverbial needle in the haystack. To weed out the unreliable ones, you can sometimes end up on the receiving end yourself. But in the process, it’s a win-win situation for the landlord, which is always what a Realtor aims for.
The other day I found a Google review against me from someone who was bitter about being turned down for rent because of unreliable credit history. Much as I would have liked to help him, his credentials did not allow me to put the landlord at a risk. This was my polite but firm reply:
My deepest regret to those whose credit history falls short of the legal requirement and don’t qualify them to rent or own a property.
The laws of our country make it hard for those with unreliable credit history to rent or invest. Much as I would like to help those with no income or poor credit history, I am unable to. Sometimes putting a guarantor with a good job and credit history helps overcome this problem. But this option of tenant selection is largely dependent on the landlord’s discretion.
A big part of my tenant selection services is to protect landlords by filtering tenants. If the credit history falls short, income is inadequate or the personal or professional credentials of the person are in question, much as I would like to, I am unable to proceed further in the best interests of the landlord I represent. It is unfortunate that in the process, fingers are pointed at the wrong direction when things don’t turn out as expected.
However, as a Realtor with over 10 years of experience behind me, adherence to the Code of Ethics, respecting the laws of this country and protecting my landlord’s interest are of prime concern to me. I sincerely offer you my best wishes for success ahead.
It helps to remember that one cannot always please everyone. In an attempt to offer the best to your clients, you may unintentionally trip up another. Some may nurse their wounds in public. Others will value the effort you put in to pull him out of a difficult situation. Experience in turning a negative setback into a positive one for all is what builds your credentials as a Realtor.
Tenant Selection Process
I represent many landlord investors in Mississauga among other cities in the GTA. My prime allegiance is to protect their investments, help them secure quality tenants and insure that their properties are well taken care of. Tenant selection process is an important part of my job because this builds confidence amongst landlord investors. Since their properties increase in value over time, it is crucial to select good tenants who can help make my landlords build their profits over time by relying on them to diligently pay rent on time.
The landlord-tenant rules and the Residential Tenancies Act that governs the relationship between landlords and tenants have been made by the Ontario province. Landlords cannot discriminate against tenants as per the Human Rights Code of Ontario. Professionals Realtors step in to help them select the right tenants through a filtering process, they know what questions to ask and how to find the right tenant for the right landlord.
Finding good tenants is not an easy. There is no dearth of people looking to rent. Yet, not everyone can qualify as an ideal tenant. So what do you do, short of throwing up your hands?
When things turn sour with a rejected tenant, it pays to remember that often a negative situation can turn out to be a positive one. Landlords are assured that the tenant selection process was stringent and trust the Realtor to protect his interests with more confidence.
With over a decade in the real estate business in Mississauga, my relationship with my landlords, investors and good tenants have been built on this level of trust, dedication and my ability to look out for their best interests over mine. Today, I have hundreds of happy landlords who vouch for my services time and again.
I thank you all for all the support and trust in my abilities and look forward to building property investment for others. For further information, please call me at your convenience.