Tenant Screening: Get Great Long-Term Tenants With the Right Property Manager | Condo Property Management Company

We know it’s a hard time to find the right tenant for your condo or property. The pandemic has put us through several ups and downs during the course of the last few months. However, partnering up with a condo property management company can be your ticket to get hold of dream-like tenants. 

Every residential owner desires their rental space to be occupied by a stable tenant with a stable background and ethics. But, how many of you found that gem without any hassle? Trust in landlord property management by Mareka. We can take care of your tenant search from start to finish, from finding you suitable tenants to screening, interviewing and background checks, leave it to us. 

We at Mareka make sure you don’t ramble around searching for the right tenant. Our services are available in Toronto, Scarborough, Etobicoke, Mississauga, and surrounding areas.

Now, let’s dive into some of the pivotal tips on tenant searching-


A Property Manager Creates a Solid Tenant Profile

You can’t find the ideal tenant if you’re not sure what even qualifies as “ideal”. 

A good manager carefully assesses your property, its location and neighbourhood and comes up with an ideal profile. 

You want tenants that earn at least 3x the monthly rent. Of course, it also depends on the neighbourhood itself. If you’re located next to high-profile restaurants, clubs and recreational activities, you may want to up this number to 4x as the tenant’s disposable income is likely to be spent on these other areas as well. 


Collect Vital Information Through a Standard Application Form

They are going to be living under your roof after all. It pays to know a little bit about them. This is where an experienced property management company steps in. They will gather crucial information on each tenant such as their:

  • Personal identification details
  • Photo ID
  • Professional history
  • Residential history
  • Income
  • Budget
  • Emergency contacts

If you own a range of townhomes or condominiums and are working with dozens of tenants, it will be impossible for you to handle this process on top of your already busy schedule. 

Turn to a trusted condo management company like Mareka and we will take this burden off your shoulders. 


Get to Know the Tenant Through a Property Visit

An important step in the process – actually talking to and getting to know the tenant before you decide to accept their application. 

Here, you want to stick to open-ended questions, “Why have you decided to move from your last place?”, “What are your lifestyle preferences?”, “Do you often have visitors?”

You want to let the tenant do most of the talking to get a good idea of where they’re coming from. 

This visit will also tell you a lot of other things such as whether the tenant:

  • was on time
  • respected your property when interacting with it
  • removed their shoes
  • inquired about the cleanliness of the place, etc.


Verify Tenant Information and Contact Their References

You want to verify any information they provide just to be doubly sure. There are a couple of ways to do this. For starters, look online! Check out their social media; Facebook, Instagram, LinkedIn and see if you can find anything amiss. 

Be sure to also get in touch with their previous landlords, supervisors, and colleagues to catch a glimpse of their overall habits, behaviour and lifestyle. 

Lastly, you can also run the tenant by your landlord association. If the tenant was ever in any trouble with a previous landlord, they may be reported in this database.


You Don’t Have to Struggle With Tenant Screening Alone! Turn to a Trusted Property Management Company in the GTA

Mareka Properties LTD is here to set up your property for financial success. Call us to learn more about Mareka Properties at (416)-255-7300 or email us at mareka@marekapm.com.


About author:
Mary is the CEO of Mareka Properties (2000) Ltd. She holds a CPM, RCM, and CRP designation, and brings over thirty years of experience to the helm of the company. Additionally, Mary has a thorough knowledge of the legislation governing the industry, an in-depth comprehension of building components, and a proven track record of guiding condominium corporations and boards of directors to success. She's the full package!

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