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Ontario Landlords: Tenant Screening (Fake Equifax Reports)

January 3rd, 2014 · No Comments · Credit Checks, Ontario landlords

 Ontario landlords fake Equifax credit reports

An Ontario Landlord Has Reported Some Unqualified Tenants Attempted to Pass Off a Fake Equifax Tenant Credit Report To a Landlord

Landlords all over Ontario are becoming aware of the importance to tenant screening.

There have just been too many horror stories in the recent past. They just keep adding up.

Not only are Ontario landlords constrained by a very low rent increase of only 0.8% as the Toronto Sun reports, but the system is flawed.

A large percentage of tenants who are abusing landlords not only financially, but emotionally.

We’ve read stories of tenant manipulating the landlord and tenant board.

Other tenants have been extremely violent towards their landlords and/or other tenants in the rental unit.

While Alberta landlords can at least charge a damage deposit, landlords in Ontario are nearly defenseless if they hand over the keys to bad tenants.

Tenant Credit Checks

More and more landlords are demanding to know the financial history of their prospective tenants.

After all, if the tenants have a history of jilting people they owe money to, why would you think they won’t jilt you too by not paying rent.

On the other hand, tenants who have a high score have a history of paying their bills on time.

They respect contracts and honour them.

A high credit score is a way for landlords to know if the strangers you might rent to are respectful and understand what financial obligations are.

After all, if they have a high score and pay others what they owe there’s a great chance they will pay their rent (and on time!)

Bad Tenants and Fake Credit Checks

A story at the Ontario Landlords Association should be required reading for all landlords.

With so many landlords becoming aware of the importance of tenant screening bad tenants are adapting.

You know, like Charles Darwin wrote, things adapt to survive.

The story at the OLA is of tenants who offered the landlord their own credit report.

Yes, the offered it before even being asked.

Why?

Because they said they knew landlords wanted credit reports so they printed their out.

Except one thing.

The credit report they gave the landlord was fake.

The renters attempted to defraud the landlord and when the landlord called them on it, the tenants left and didn’t call back.

Tenant Screening in 2014

Ontario landlords face more challenges than ever before.

Fake Equifax credit checks are the latest ploy bad tenants are using to get into your rental property and creating a financial and emotional nightmare for you.

Whether you own rentals in Ottawa, are a landlord in Newmarket, or anywhere else:

Be Careful in 2014!

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