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9 Ways to Find the Perfect Tenant for your Investment Property

Have an investment property and need to find tenants? You’ll probably want to hire a real estate agent. In Vancouver, the rental market is very competitive right now, and if you use a real estate agent, you’ll likely get a better, more qualified tenant for your investment property.

1. Get income verified.

This is tricky because sometimes, in order to get the rental, some dishonest tenants write their own letter of employment. So, always ask for a pay stub no older than 30 days along with bank statements showing their pay deposits. If they are self-employed, notice of assessments for the last 2 years will do, or ask for bank statements showing their overall monthly cashflow.

2. Get a full credit report, not just their credit score.

Just getting a credit score number isn’t enough. Always get a full credit report done so you have a full understanding of how healthy a tenant’s finances are.

3. Get their ID verified

I always ask to see their driver’s license, and get a photocopy of it. Believe it or not, tenants try to fake their identity as part of the application process just to get into a rental unit.

4. Get 10 post dated cheques.

There’s nothing worse than having to chase down a tenant for rent each month. It’s annoying, and sometimes a tenant may even end up giving you a cheque once the rent is actually past due. It’s easier for everyone involved if you have all of the post-dated cheques written and signed up front.

5. Get references.

Aways ask for at least 3 references, and I call each one of them. You want to know how they were as a tenant, if they paid their rent on time, if they kept the property clean, and obeyed the rules that were set in place in the agreement, like not smoking and obeying any rules around having pets.

6. Look at their social profiles.

It might seem a little creepy, but someone’s social profile can tell you a lot about them and how they’ll treat the unit they’re renting. A professional profile on Linkedin with recommendations? Probably a qualified tenant. Hundreds of pictures of them partying? I’d continue to look elsewhere.

7. Get a pet deposit

If they have pets, then always get a pet deposit. Even if the pet is small, they can still do a lot of damage to floors and carpeting over a long period of time.

8. Get a security deposit for the key fob, if the unit is a condo.

People lose things, and it’s definitely possible that a tenant would lose a fob. They aren’t cheap to replace, so it’s best if you get a deposit in case it does get lost.

9. Get proof of tenant insurance.

I always want to know that the tenant has their content of the unit insured. Things can happen, and it’s important to know that everything is protected in case something does.

Client Review

Thank you for the kind words, Patricia! It was a pleasure working with you:

“I had such an amazing experience with Maureen as my realtor. It was my first time selling a property and needless to say I was a tad intimidated with the whole process. Maureen made it so easy and as stress free as possible by inspiring my confidence and trust. I knew I was in good hands as she was always a step ahead. She was professional, detailed oriented, focused yet so personable. She has such a great personality with lovely energy and is so easy to talk to. She made the process fun and exciting. And I am proud to say my condo sold within a week and more than the asking price! I would definitely work with her again.”

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Tips for Women Buying Property

In honour of International Women’s Day, last week.

There are more women these days buying their first homes on their own then ever before. I think it’s mainly because… well let’s face it, we’ve always been better with our finances. Couple that with our maturity, allows us to embark into the real estate market faster. Now here are some great tips for those single women looking to purchase their first homes.

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Chamber Member of the Year

The Chamber Member of the Year is someone who embodies the values of the Tri-Cities Chamber of Commerce and has made significant contributions throughout the year. In 2016, Maureen Seguin worked tirelessly to help the Chamber create the most engaged membership in the region.

Maureen Seguin, Century 21 In Town Realty and Chief Ambassador of the Tri-Cities Chamber of Commerce has been instrumental to the success of the Tri-Cities Chamber. The award-winning realtor has been described as bubbly, professional, endlessly positivity, generous, is a tough as nails negotiator with boundless energy, going above and beyond in everything she does.

The world traveller, newlywed, and devoted Vancouver Canucks fan leverages her social media platforms to promote causes and organizations she believes in including numerous community events, Operation Red Nose, and the Tri-Cities Chamber of Commerce.

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Top Tips to add more space in your home

Nothing makes you feel more cramped in your living space than clutter and confusion. Follow our tips to help you minimize the mess and tidy up your space.

1. Add shelves above doorways.

2. Banish room-darkening shadows with additional light fixtures.

3. Put glass shelves across deep-set windows.

4. Use a chest or an ottoman with storage inside as a coffee table.

5. Put low bookcases along a sofa back: they’ll double as a sofa table.

6. Keep the flooring throughout a small space the same for visual continuity.

7. Line a room with a shelf high up on the wall.

8. Keep window treatments simple.

9. Run a low bookcase underneath windows.

10. Stretch your space to the outdoors by making a patio or deck comfortable and welcoming.

11. Place a large bucket for magazines next to your favourite chair.

12. Line a hallway with bookshelves.

13. Use a wicker hamper as both an end table and storage space for blankets.

14. Buy a coffee table with a drawer for remotes.

15. Carve out shallow display space between wall studs.

16. Use fewer, larger pieces of furniture and accessories to reduce visual clutter.

17. Choose sofas and chairs with plain or textured upholstery rather than vibrant prints.

18. Install shelves around a window.

19. Add window seats with lids.

20. Run shelves up to the ceiling.

21. Buy a magazine rack or stack magazines in flat-bottom baskets underneath a console or coffee table.

22. Take advantage of wasted space with corner bookcases. 23. Think monochromatic.

24. Eliminate obstructions: the further you can see into and through a space, the larger it’ll seem.

25. Arrange furnishings to avoid blocking views of windows and doors.