Landlords, How Can You Track Down Deadbeat Tenants Who Owe You Money?
We’ve see a mountain of evidence of how bad tenants can create problems for landlords. In Barrie, Ontario a landlord was actually bitten.
Even amazing tenant screening isn’t always the answer.
As all experienced landlords know, no matter how much you screen your tenant there are always those who ‘turn’ on you and leave owing large debts.
Can you imagine the financial and legal challenges you would face if your tenants started a grow-op?
And we all know how difficult it can be to evict bad tenants.
Experienced debt collectors says the more information you get on your rental application the easier it is to eventually track down deadbeat tenants who owe you money.
It’s recommended you get the following information on your new tenants:
1. Date of Birth
You don’t really care about their age, but it will be easier to find them later on.
2. Social Insurance Number
Some tenants will be reluctant to give you this. If they are good tenants they have nothing to be afraid of.
3. Previous places of residence
You need to find out where they lived before, as it can help identify them later on.
Knowing their current employers is a great way to find deadbeat tenants fast.
5. Personal references
If they can’t be found through normal means, being able to contact friends and relatives is a great route to find them and hold tenants accountable.
Of course, finding tenants who are are stable and care about their credit rating are the best tenants. However, things can change during a tenancy.
Whether its a loss of job, a divorce, an addiction or numerous other factors, it’s important for landlords to protect ourselves and get the information we need in case the tenancy goes bad.
As Ronald Reagan said many years ago: “Trust…but verify.”
Discuss this and other topics at the Canada Landlords Forum.
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