Professional tenants aren’t a myth. The exist for real, and they’re creating major pains for small landlords all over Canada. Came across this interesting piece at CBC news today concerning small landlords getting burned in British Columbia. A few first time landlord missteps being counted on, and an intimate knowledge of the loopholes with the B.C. LTB’s process allows for free living arrangements for a long stretch on end for pros who know how to work the system.
The Federation of Rental Housing Owners of Ontario went on record stating that professional tenants can work up to 6 months of living for free on a landlord’s dime by simply exercising their right to appeals. “We’re probably dealing with anywhere between one and two per cent of the tenant population that is doing this [scam],” said the federation’s Vince Brescia. “The activity of the ‘pros’ is creeping up … it’s a growing phenomenon.”
Property management is about due diligence. Landlords should always ask for a certified check for first and last month’s rent – something clearable prior to the tenant moving in or handing over the keys. They should also be diligent about not only credit checks and other tenant screening, but with references from previous landlords. What do you think? Do you think provincial legislations in Canada are in need of tweaking?