Archive for the ‘BC landlords’ Category

British Columbia Landlords: Rent Increase Guideline 2014

Wednesday, January 1st, 2014

January 1st, 2014

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BC Landlords Are Asking “How Much Can I Raise the Rent In 2014?”

It’s news from the Residential Tenancies Branch that landlords all over the province are interested in.

Each year the government announces how much BC landlords can raise the rent for their tenants.

British Columbia Has Rent Control

Lots of new people who invest in residential rental properties in British Columbia are unaware we have what is called ‘Rent Control’ in this province.

This means the provincial government interferes with the rental market and controls how landlords run their rental businesses.

It doesn’t matter if you are a Vancouver landlord or if your properties are in Surrey or elsewhere, you have to obey whatever the government thinks is right when it comes to rent increases for the new year.

We are in a similar situation to what Ontario landlords face each year.

And those landlords aren’t happy with it.

Go check out the Ottawa Landlords blog to see what they face and they feel about their tiny 0.8% allowable rent increase.

How Much Can British Columbia Landlords Raise the Rent in 2014?

BC landlords can raise the rent 2.2% in 2014.

The Rent Increase for 2014 at 2.2%… It Just Feels Far Too Low!

We’ve received lots of emails already from landlords who feel the same way.

After all, the Rent Increase Guideline for BC landlords was 3.8%.

And many landlords don’t think their increased costs are lower than what we faced in 2013.

A Kelowna landlord emailed us the following message:

Property taxes go up. Hydro costs go up. Heck, even water bills are going through the roof!

Does the government really want people to invest in rental properties? Because it sure doesn’t seem like it.

I thought we decided against the NDP!

Why can’t we have the same rules as what Alberta landlords get?  My cousin is a landlord in Calgary and she is going to raise the rent over $100 for her $900 rental apartment.

That’s where the government keeps their Big Brother/Big Sister ideas away from good landlords who just want to make a profit of some sort by providing great properties to good tenants??

BC Landlords and Getting Good Results in 2014

As we have read, BC landlords faced a lot of challenges in 2013.

With a low rent increase for the new year landlords must be extra careful who they rent to.

Make sure you do proper tenant screening and don’t rent to someone who will not only give you a headache, they can stay in your property and enjoy very small rent increases for years on end.

To discuss this and other landlord matters go to the BC landlords forum.

Investing In British Columbia: Landlords Can Take Advantage of a Growing Tenant Pool

Monday, December 2nd, 2013

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As Home Prices Rise the Pool of Good Tenants Grows for BC Landlords

In our last blog post we discussed how BC landlords can enhance our chances to rent to good tenants with proper tenant screening techniques.

With proper tenant screening, including credit checks, you improve your chances of renting to good tenants who respect you, respect your rental property, and pay the rent on time.

Some potential investors have emailed us asking “are there any good tenants in BC?”

It’s a valid question considering the media attention on so many ‘tenants from hell.”

Opportunities for British Columbia Landlords

Let’s focus on the positives of investing and becoming a landlord in BC.

According to a report in Canadian Real Estate Wealth Magazine buying a home is becoming increasingly difficult.

Difficulties in getting a mortgage are only one obstacle for new buyers. Prices are rising.

You also have to service the home.  Utilities costs and taxes are rising.

An RBC report shows buying a house is simply not affordable for many renters.

The reports states that in 2013 a house owner will have to spend over 40% of household pre-tax income just to buy a small bungalow.

Owning Investment Properties Is a Business

A successful business has lots of good, paying customers and clients.

With the increasing costs of home ownership, it means many people who plan to buy a home will:

1. If they are currently renting they will hold and continue renting

2. Non-renters will decide to rent for a period of time before buying

The Pool Of Good Tenants Is Growing More people renting means the tenant pool grows.

This isn’t only happening in Vancouver.

Landlords in places like Surrey and Kelowna will also have more opportunities to rent to good tenants.

Reminder: There are Still Bad Tenants Out There

It’s important for landlords to use the proper tools and services to find good tenants.

Whenever you get the feeling of renting to tenants on your ‘gut feeling’ read this story about a Victoria landlord who is out more than $20,000 in lost rent, for fixing damages, and having to clean up the mess her tenants left.

Remember, lots of good tenants are looking for a good landlord…they are looking to rent from YOU

Make sure you screen your tenants carefully at all times.

Know what questions to ask.

Employment and tenant credit checks are a must.

Succeeding Is Now Up To You There are lots of good tenants out there.

Make sure you find them, and help them find you!

Tenant Screening British Columbia: Fast and Affordable Tenant Credit Checks

Sunday, November 3rd, 2013

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We’re heard about a lot about the challenges British Columbia landlords faced this year.

Most of them involved residential landlords renting to tenants who didn’t pay their rent.

Or tenants who moved in and left leaving thousands of dollars in damages. It also included tenants who harassed their landlords.

Some tenants brag they feel justified in taking these actions because they claim landlords are ‘greedy.’

Tenant Screening

It’s essential landlords conduct proper tenant screening on prospective tenants.

In this day and age renting to someone based on a good conversation or a call to a previous landlord usually isn’t enough.

We’ve heard the stories.

Some of the worst “tenants from hell” were very charming when the landlord first met them.

Some had lots of personal references.This included glowing letters from ‘former landlords’ and ’employers’ and filled with promises to treat your rental property ‘as if it was their own.’

It is easy for landlords to find any kind of tenant for their rental property.  It is much more difficult to find the right tenant who will not pose a risk to your investment. 

There are lots of great tenants out there and you want to make sure you rent to them.

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How Can I Find Good Tenants?

Garda Background Screening Services is proud to partner with the the CLA to help owners screen prospective tenants using our secure online technology – available in French and English – with results available in as little as 24 hours.

Gardas customized suite of services includes a tenant credit check can help provide a snapshot of a renter’s financial history.

Fast and Efficient Tool For BC Landlords

Time-pressed landlords need a tenant screening process that is simple and easy to use. 

Potential renters need only to complete a  consent form. 

The consent form and two pieces of identification are faxed in toll free or emailed into a designated mailbox. 

Get our services and receive special rates.

Should you have any questions, our dedicated account representatives are here to help.

Payment is quick and easy.  Landlords can use a credit card.There are no account set up fees and no contracts to sign. 

British Columbia Landlords only pay for the services they use. 

Results of the checks are emailed to the landlord’s inbox in as little as one business day.

Let Garda help protect your investment and help ensure you find the right tenant.   

Garda is are the country’s largest Canadian-owned background screening company. Garda clients count on us to provide them with the tools to manage risk, reduce losses, and enhance security in a cost effective and timely manner.

Protect Your Investment

Landlords all over British Columbia are being careful who they rent to.

Join the our group and start doing premium credit checks with Canada’s leading background screening company.