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Landlords Alberta: Credit Checks For Tenants

· Tenant Credit Checks

Landlords Alberta Credit Checks For Tenants

August 1, 2016

Make sure you find good tenants by running a fast and affordable high quality credit check with the Alberta Landlords Association

It’s been a great year so far for many Lethbridge landlords.

The economy is strong, there are lots of good tenants looking to rent from good landlords, and according to Moneysense magazine almost half of the ‘best places to live’ in 2015 are in Alberta.

How To Avoid Renting To Bad Tenants

Most renters in Alberta are worthy of renting your property.

They are good folks who pay rent on time and respect your property. Many renters are saving up to buy their own home (and some even want to eventually become landlords just like you are).

Of course, there is that small percentage out there who prey on unsuspecting landlords. Sadly, these are people that are growing and not something only Ontario landlords need to worry about in 2015.

Serial Bad Tenants Can Cause Landlords Thousands of Dollars

There’s been a big story in British Columbia that has British Columbia landlords fuming.

There are a couple of serial bad tenants who go from one small landlord to the next without ever paying a cent of rent.

A CBC News Investigation showed how they jilted small landlord after small landlord.

Some landlords are out thousands of dollars.

They are even now demanding the creation of a ‘Bad Tenant Registry.’ We wish them good luck but it’s doubtful the government will help them.

How Can You Rent to Good Tenants?

There is a common these to all these small landlords lose so much money.

They don’t have a thorough tenant screening system.

To find good tenants you should always include a credit check. This will show you the potential renter’s credit score, verify employment and past addresses, and show you if they owe anyone money.

If they owe other people money, there is a good chance they will end up owing you money to.

Premium Tenant Credit Checks For Only $10 Per Check

The Alberta Landlords Association has recently teamed up with the best credit check company in Canada.

Credit checks are the most popular credit check system used by small landlords in Ontario (where the system is stacked against landlords!). 

Here is a recommendation by a Toronto landlord:

“I strongly recommend running tenant credit checks for helping me find good tenants”

Get Started Fast and Enjoy a Huge Discounted Price

While the normal price per check is $21.58/check, if you are an ALA member you get credit checks for only $10/check! That’s a huge savings!

And remember, unlike other groups the ALA only charges a one time fee.

Whether you are a landlord in Lethbridge, Calgary, Edmonton or anywhere else in the province,  credit checks are a way to make sure you rent to good tenants and avoid the serial bad ones out there.

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Medicine Hat Landlords – Rents are Rising And Vacancy Rates Are Dropping

· Latest News, Medicine Hat landlords, Tenant Credit Checks

Rents are Rising And Vacancy Rates Are Dropping

Good News For Medicine Hat Landlords But Don’t Drop Your Guard and Screen Tenants Carefully Including a Credit Check

A new survey of the Canadian rental industry was released by CMCH (Canada Housing and Mortgage Corp.) and it’s good news for Medicine Hat landlords.

The good news includes:

1. Rents Are Higher

According to the CMHC report if you want to rent a 2 bedroom apartment in Medicine Hat you will be paying an average of $739/month.

That’s more than a 3% increase ($30/month) over what you would have paid in 2013.

2. Vacancy Rates Are Lower

With the good news in the local economy, the vacancy rate is down from 4.4% in 2013 to only 2.7% this year.

Why Is This Good News Happening for Landlords?

According to the CMHC’s Pichu Kalyniuk it’s because the area is experience job growth.

With new job opportunities more people are moving to the area and they need rental properties to live in.

Those increases may not be reflected in the April numbers, according to Kalyniuk, though she did say increases appear likely.

In the last few years there has been a higher vacancy rate in Medicine Hat and that doesn’t provide a lot of incentive to raise rents,” said Kalyniuk.

Now that things are picking up, we would expect to see rents grow.”

With a vacancy rate of 2.7% we are still lagging behind many other cities and the Alberta vacancy rate is only 1.1%.

The average rent is $707/month which is the lowest of all the urban centres in our province.

The average rent in Lethbridge is $838/month while Calgary landlords are charging over $1150/month and Edmonton landlords are charging $1061/month.

Tenant Screening

It’s nice to read the good news but it’s not a reason to let your guard down when choosing who you rent to.

With more net migration coming landlords have a large group of good tenants coming.

There are also going to be some “professional tenants” who you want to avoid. It’s up to Alberta landlords to choose good tenants.

How Can I Make Sure I Rent to Good Tenants?

Make sure you run a tenant credit check when you screen your potential tenants.

When you run an Alberta landlord credit check you can see the financial history of your potential tenants and make sure they pay their bills on time.

How Can I Run Credit Checks on Tenants?

You can join the Alberta Landlords Association for only a one-time registration fee!

Then you can start running premium tenant credit checks for only $10/check from your own home computer.

It’s easy to do and you get your results in minutes!

Make sure you join and use certified tenant credit check companies so you can run safe and legal credit checks (and protect yourself).

Medicine Hat Landlords – It’s nice to read the good news for landlords here. Make sure you rent to good tenants (and avoid the professionals) with good tenant screening including an Alberta landlord credit check!

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Lethbridge Landlords: Success in 2014

· 2014, Lethbridge Landlords

 Lethbridge landlords 2014

It’s already 2014.

We hope all our readers had a terrific holiday and you are enjoying the start of the new year.

We will continue to try to help you and your rental business succeed by posting advice, tips and news for Lethbridge landlords.

We’ll talk about some of the good things.

For example, Alberta has the lowest vacancy rate in Canada to start the new year.

There are also some topics that those in the rental industry are interested in.

These topics include a new debate over how we can charge damage deposits.

Are You Going To Raise the Rent in 2014?

Some new landlords have emailed us asking how much they can raise the rent this year.

They must have heard news about rent control in other provinces on the news.

For example, British Columbia landlords can only raise the rent by 2.2 percent.

It’s even lower in Ontario where landlords can only raise the rent by 0.8 percent.

Yes, less than 1 percent. It has a lot of landlord there upset such as these Ottawa landlords.

What About Alberta?

In Alberta we are allowed to raise the rent by as much as the market will bear.

Of course, we have to follow the legal procedures.

This includes only raising the rent one timer per year and giving your tenants at least ninety days notice of the start of the rent increase.

To read the rules here is a very helpful site for you.

Tenant Screening

Remember to make 2014 the year when you screen your tenants carefully.

There are a lot of good tenants out there.

And there are some people who view you, the landlord, as something to abuse for free rent.

Unfortunately, we saw a lot of bad tenant stories last year.

Don’t let you and your rental property be a news story in 2014.

Tenant Credit Checks and Tenant Criminal Checks

The Alberta Landlords Association offers their members terrific tenant screening services from Equifax and GARDA.

For a low fee you are able to make sure you give the key to a tenant with a sound financial background (and without a criminal past)

Make 2014 Your Most Successful Year Yet!

Whether you are a new landlord or a seasoned vet of the rental industry make tenant screening your new years’ resolution and have your most successful year ever.

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Tenant Screening Lethbridge Landlords: Credit Checks

· Lethbridge Landlords, Tenant Credit Checks

 young people and cardboard boxes

Let’s continue to network, share news and tips and advice for Lethbridge landlords.

One of the topics we said we would discuss in our first blog post was how to find good tenants.

There Are Lots Of Good Tenants Out There

The Alberta economy continues to grow.

Our economy is expected to continue to outperform provinces such as British Columbia, Ontario and Quebec.

Things are expected to be even better in 2014.

Real estate prices are predicted to continue to rise.Wages are going up and drilling for oil and gas will increase next year.

A growing Alberta economy means more jobs.

[Read more →]

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Lethbridge Landlords

· Lethbridge Alberta Landlords

 Lethbridge Landlords

News, Tips, Advice and Networking for Landlords in Lethbridge, Alberta

Welcome to our site Lethbridge Landlords!

Our goal is to be an important source of information and resources for landlords in Lethbridge and the surrounding area.

Being a Landlord in Lethbridge

Experienced landlords know being a landlord or property investor can lead to lots of money making opportunities.

Lethbridge is a growing city and place lots of newcomers are now calling home. International investors have a growing interest in our city and province.

Landlord Challenges

We also know there are lots of challenges out there.  And these challenges are growing

We’ve seen everything from ‘rental scams‘ to bad tenants destroying homes to ‘freemen on the land’ calling their basement rental apartment their ’embassy.’

Smart landlords are aware the regulatory laws in the province.

They also use proper documents and always make sure they do proper tenant screening before handing over the key.

This includes credit checks and criminal checks on prospective renters.

Upcoming Topics

In the next few months we will discuss a variety of topics and hope to answer the following questions:

These include:

1. How can I find great cash-flowing rental properties?

2. How can I make sure I choose good, paying tenants for my rental?

3. What’s the best way to rent to students?

4. How can I attract good tenants to want to rent my place?

5. What can I do if I get a bad tenant?

These are important issues not only for landlords but for potential investors.

Investing in Lethbridge

With Alberta now an attractive place to live and invest in, we will also help international investors learn about the city and about investing in Lethbridge rental property.

For those looking at Lethbridge as a place for potential investment here is a brief introduction to the city.

Lethbridge is a city in the province of Alberta, Canada, and the largest city in southern Alberta.

It is Alberta’s fourth-largest city by population after Calgary, Edmonton and Red Deer, and the third-largest by area after Calgary and Edmonton

University of Lethbridge

The University of Lethbridge‘s main campus is located in Lethbridge, Alberta.  It’s one of Canada’s top undergraduate focused schools.

The university provides undergraduate and graduate programs across areas of study. More than 500 faculty members educate nearly 8,500 students in education, fine arts, health sciences, humanities, management, nursing, sciences and social sciences, leading to academic degrees at the bachelor, master’s and doctoral levels.

Networking

We also will promote residential landlords to start networking.

With networking we can all share tips and advice on how to make our rentals as successful as possible.

A great place to being is signing up for the Alberta Landlord Forum.

We’ll provide a lot more information in the coming months.

It’s Time Lethbridge Landlords To Get Networking and Start Putting Your Rental Business Into Fifth Gear and Maximizing Your Success!

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