Tenant Placement & Screening – Finding the Right Tenants for Your Property
Learn how we screen tenants, what documents are required, and how we ensure you get responsible, long-term renters.
Vivian Nunes
Last Update há 4 meses
What is the industry average for the length of a tenancy?
The average length of tenancy is 1 – 2 years.
On average, how long does it take to find a tenant?
In general, it takes about 30 days to find a suitable tenant. It is important, however, to bear in mind that the rental timeline varies from property to property and depends on factors such as time of year and listing price.
It is also important to remember that finding a tenant is easy while finding the right tenant can sometimes take a bit more time.
How do you screen tenants?
Our tenant screening process involves a comprehensive, multi-stage review to ensure that we select the most suitable tenants for your property.
Credit Check & Income Verification
We assess the applicant's credit history, verify their income with supporting documentation, and evaluate their cash and investment assets (including real estate). We also consider any family or spousal support to ensure financial stability.
Employment Reference Check
To verify the applicant's employment status and history, we contact their current employer and cross-check details with publicly available company information.
Internet & Social Media Check
We conduct thorough online searches, including social media profiles, to gain insight into the applicant’s lifestyle and suitability for the property.
Previous Landlord Reference
We reach out to previous landlords to verify the applicant's rental history, including their payment behavior and how they maintained their previous rental properties.
What will my role be in choosing tenants for my property? Can I accept or reject tenants?
We believe in a partnership when it comes to selecting the right tenant for your property, so your input is crucial! Here’s how we make the process smooth and transparent:
Tenant Screening: When we find an applicant we think is a good fit, we’ll send you a detailed email with their information, so you can review their background and qualifications.
Your Final Decision: You’re always in control! We’ll never move forward with placing a tenant without your approval. You have the final say on whether to accept or decline an applicant.
Legal Considerations: While we want to ensure you're comfortable with your tenants, it’s important to note that rejecting an applicant must be based on specific legal guidelines. There are only a few valid reasons for saying “no,” so we’ll help guide you through the process to make sure everything is above board. For more details, check out the Ontario Human Rights Commission - Human Rights and Rental Housing.
We're here to support you every step of the way to make sure you're happy with your tenants!
Can you get me long-term tenants (i.e., tenants that will stay longer than 2 years)?
Once you’re ready to rent, we will start a dialogue with you to determine what your tenancy expectations are.
Knowing what you’re looking for allows us to more effectively screen tenant applicants to find tenants whose expectations are in line with your own.
If you are looking for a long-term tenancy, we can assure you that our Leasing Department is trained to help identify opportunities for a long-term rental and is happy to help facilitate the signing of a multiple-year lease.
However, a long-term tenancy isn’t the right fit for every property owner. Allowing for natural turnover provides investment property owners with an opportunity to increase rental prices beyond what would be allowed within an existing tenancy.