The Top Landlord Resources To Find And Keep Good Tenants

I used to be petrified of dealing with tenants. Seeing the phone number of a tenant show up on my call display would stress me out a lot. Dealing with tenants and potential issues of damage and non-payment is one of the most common reasons many people don’t invest in rental properties.

Over the last few years, we have educated ourselves on the rules in Ontario and also systematized many processes that we complete during each tenancy. .

We have standardized steps that include: Completing a move-in and move-out checklist with tenants, keeping a set of amazing pictures for each unit, organizing and making multiple copies of keys for each door, reusing similar write-ups for ads, obtaining signatures electronically from tenants, adding important clauses to our Lease Appendix as we become aware of them, etc.

These are the most common resources that we have used to find and keep great tenants:

1-Ask other investors – If I come across an issue that I have not dealt with before, I know a handful of investors that read the Residential Tenancies Act (RTA) before bed (Not really, but you know what I mean). But seriously, find a fellow investor or two that have a lot of experience with the RTA and the Landlord Tenant Board (LTB) and reach out if you need help.

2-Attend the LTB in person – Am I the only one that considers this fun? Well I have done it a few times and have learned a lot. Not only about the technical operations of the meetings but also how landlords and tenants should and should not conduct themselves.

3-Facebook groups – “Ontario Landlord Watch Members” is one of the best groups out there. It’s great for asking questions if you are not sure about something related to tenant relations. You can also search the group history if you are looking for a specific topic (i.e. N4, N11, L-whatever, etc.)

4-E-books – As silly as these sound, I have found e-books on tenant screening to be very informative – My two favourite have been e-books created by Sarah Larbi and Gary Hibbert. Reach out to these successful investors if you would like copies.

5-Lease template packages – I purchased Harry Fine’s Landlord package of tens of templates two years ago and it has been a great resource. His Appendix to the Standard Ontario Lease is something I use (with tweaks of my own) to this day. There are many other forms in the package which I may use in the future – parking agreement, sublease agreement, guarantor form, etc.

6-Podcasts – Investors like Tom & Nick Karadza (The Your Life Your Terms Podcast) and Sarah Larbi (The Where Should I Invest Podcast) have released episodes in the past that were solely focused on tenant screening strategies. Find those and listen to them with a notepad and pen.

7-Paralegals – If you still need help, you need to pay for it. Find a professional that other investors have used and pay to receive the necessary assistance and advice.