What should I do if my tenant does not pay their rent?
Tenants are people and things come up, life and jobs change and sometimes it is an oversight on their part. The first thing you should do is contact your tenant and offer a friendly reminder that the rent is due. If the tenant is unable to send the rent immediately you must for go to the “Landlord tenant board” Website and click this link below. The form you will serve is called an N4 there are clear instructions on what the proper procedure is and how to serve this document. If you are unsure of anything you can contact the Landlord tenant board website by phone at 1-888-332-3234.
What do I do once I have served the N4 and the 14 days in which the tenant is given to pay has expired and I still not received my rent?
Immediately go to the landlord tenant board website and file the L1 form. If you are uncomfortable filling out this form, you should hire a paralegal. (If you would like us to refer a paralegal to you please email email@example.com) There are clear instructions on the landlord tenant board website on how to properly fill out the form, file it online and pay the filing fee.
The link is below the form is called an L1
What paperwork should I ask my prospective tenant to provide when they are applying to rent my investment property?
When you are trying to secure a tenant collecting the proper paperwork and doing you background checks and due diligence are key to choosing your ideal tenant. The following paperwork should be included in your application process.
- Proper rental application ( If you need an application email firstname.lastname@example.org we will provide you with one)
- Three recent paystubs, if they are self employed they can send you and proof of income in various forms.
- Letter of employment on letter head from each working adult, make sure it is on letterhead, signed by the person who wrote it and the date is recent.
- Credit reports not just the score. The tenant can secure a recent credit report from various websites Equifax.ca or Borrowell are two.
- Copy of photo Identification.
There are other documents a landlord can secure but this should be the standard with each applicant.
Once the lease is signed what are the next steps prior to the tenant taking possession?
Prior to your tenant moving in a landlord should provide the contact information for the tenant to switch the utilities (gas, water and hydro) into their name and request email confirmation from their tenant that this has been completed. The landlord should also have confirmation that the tenant has renter’s insurance on their property and have a copy of this policy prior to the tenant taking possession. If the tenant does not provide confirmation by email but does verbally the landlord should call the utility company prior to the tenant taking possession and confirm the account has indeed been put into the tenant’s name.