Small Ownership Landlords of Ontario

Landlords Helping Landlords

Small Ownership Landlords of Ontario

Landlords Helping Landlords

SOLO Landlord Story #22: Is following a verification process too much to ask of tenants?

While trying to rent my property for a reasonable price, I received more than 100 applicants through Facebook messenger. However, the catch was that they had fake letters of references and false information.

I decided to include a condition to see the transaction of the rental fee they paid in the last 6 months. I asked them to either share a soft copy, share in person or online via video call, whilst removing any personal account details. For verification purposes, I asked them to leave the address, and the e-transfer receipt as proof of the rent paid.  In addition, I required proof of income in order to cross-check their stories.

Guess what? Numerous applicants started to create fake stories again.  For example, one mentioned that he was paying in cash, another was living with his friend, one moved with his parents last year, one was paying through his previous partner, and much more creative stories. The market now is full of evicted people, fake documents, and sometimes applicants have their friends vetting for them pretending to be their previous landlord. Therefore, it is important to be careful and create a verification process.

This is a tried and tested method and I recommend it.

Last year, using this method I found an excellent tenant, but she wants to move out now because she has purchased a new home. She was a very good tenant and welcomed this process. I saw the proof of the prior rent she paid, her income and she even logged in to show her credit score. Everything was smoothly done last year, but recently I found a lot of scammers in the market.

Please insist on asking for this information to protect yourself and your house. Prior to approving a mortgage loan for a house, the banks ask to see our income and transactions in the last 3 months. We should at the very least also follow a verification process before allowing someone living in that very house.

From those numerous applications, so far, I have had two families willing to follow this process, whom I have showed the house. While all other applicants continue to cook up stories and drama about their status. As part of the bargain, some applicants are requesting to waive this condition, while others are insulting me for insisting on it. However, I prefer to spend another month or months with a vacant house until I find the accurate information and a trustworthy applicant. Thus, I suggest if possible do not rent until getting the real people with the real documentation.

Wishing good luck to all landlords in pursuit of good tenants!


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