Does this potential tenant sound odd?

[Millions]

I showed this girl my place last weekend.

She seems great in person, young about 27. She was with another girl around the same age.

Rather than fill out the application she emailed me the info. Texted me the numbers to call.

Then all of a sudden said she just wants her on the lease and not the roommate.

So I have called the number of the manager she gave me. With her it checks out but who knows. I want to call the main company line which is NARS cosmetics.

That company wont tell me anything unless I fax them the application which this girl feels uneasy signing. Because of the SIN number and banking information required. But even without that, she wont sign a form.

Her current landlord is in asia so I was only given a email.

ODDDD?

haha I have come across all sorts of people owning this condo.

They seemed so good and I cant afford a vacancy but this seems a little fishy correct?

 

[Berubeland]

Follow your gut, your gut says fishy, my experience says fishy, take a pass on this one and keep looking.

 

[PropertySolution]

Back away from this one. I believe anyone not willing to sign an application has something to hide. The Landlord in Asia thing is suspect as well, I cannot see an owner from over seas not having a rep here in Canada.

Just to odd, the right Tenant will come along.

Good Luck

 

[fumbrunner]

Yes, it sounds fishy.  Your application should have a clause that allows you to check salaries, etc.  If not, you need to add it.  SIN and banking info isnt necessary unless you are doing a credit check.

 

[creditinfocanada]

Credit Screening, is a an overall myth! Noooooooo

First off, from someone that screens for clients all across Canada hundreds of applicants a month here is the problem that most people are having or have had:

#1 Your not there for a life story, to the person in Winnipeg that stated you should have something in writing that allows for wage checks, it frankly doesnt matter now, FOIP is all around and unless you know the lingo most people will have a hard time verifying wages.

#2 See point one, if they are applying, its a brief conversation, gut feeling, sure has to be there to some degree, but about 5% of it, get the applications and send it off to someone to run credit on the applicant or if you can run it yourself. In this situation, heres the quick remedy, for companies like ours we have whats called a FRAUD ALERT, we pay for it, what it means is that each bureau that comes back if the person ident has been stolen or compromised in anyway we would know. Hence if someone is feeding you lines, credit unfortunately doesnt lie and you catch people that way.

#3 For the love of god, stop the references checks from being the first thing you do. Why waste your time. This isnt well I love the person and well now i found out that they have horrible credit, this is a BUSINESS and you have an investment.

Get the applications done quick, find out before you do anything else because if anything your wasting your time if the credit is horrible. As well the credit on the perspective tenant may bring questions to the forefront that they havent told you, bankruptcies, lapses, collections, name changes.

Look the bottom line is this, business is not like it was 20 years ago, debtors are smart and cna play the systems so be careful. Get the names of ANYONE that will be living in the residency and run them all.

Chris Bradnam
Credit Info Canada
(780) 486-1183

 

[fumbrunner]

QUOTE (creditinfocanada @ May 14 2010, 08:40 PM) Credit Screening, is a an overall myth! Noooooooo

First off, from someone that screens for clients all across Canada hundreds of applicants a month here is the problem that most people are having or have had:

#1 Your not there for a life story, to the person in Winnipeg that stated you should have something in writing that allows for wage checks, it frankly doesnt matter now, FOIP is all around and unless you know the lingo most people will have a hard time verifying wages.

#2 See point one, if they are applying, its a brief conversation, gut feeling, sure has to be there to some degree, but about 5% of it, get the applications and send it off to someone to run credit on the applicant or if you can run it yourself. In this situation, heres the quick remedy, for companies like ours we have whats called a FRAUD ALERT, we pay for it, what it means is that each bureau that comes back if the person ident has been stolen or compromised in anyway we would know. Hence if someone is feeding you lines, credit unfortunately doesnt lie and you catch people that way.

#3 For the love of god, stop the references checks from being the first thing you do. Why waste your time. This isnt well I love the person and well now i found out that they have horrible credit, this is a BUSINESS and you have an investment.

Get the applications done quick, find out before you do anything else because if anything your wasting your time if the credit is horrible. As well the credit on the perspective tenant may bring questions to the forefront that they havent told you, bankruptcies, lapses, collections, name changes.

Look the bottom line is this, business is not like it was 20 years ago, debtors are smart and cna play the systems so be careful. Get the names of ANYONE that will be living in the residency and run them all.

Chris Bradnam
Credit Info Canada
(780) 486-1183
That is one way. I (and probably most landlords) would check other (free) references before spending money on a credit check, particularly early on when you may have a half dozen potential tenants. There are other ways to check for their creditworthiness, such as checking court records (free) for small claims judgements.  Employment, income, past tenant profile are just as important as credit checks, if not more so.

 

[manojsingh]

This is fishy and tenant is not worthy for time wastage. I burned my fingers in this kind of gut feeling. If there is any confusion always go with no for that tenant.

 

[JimWhitelaw]

I agree with the others, pass on this applicant and move on. I wouldn`t spend any time on someone who won`t complete or sign the application. They aren`t serious about it, period. Next!

On the subject of tenant credit checks, they are just one part of the process and not necessarily the most important one. I definitely wouldn`t start there, I`d check out a few of their other data points first. Someone here (I`m sorry I don`t remember who, might have been Adam H.) once stated it really well: The tenant comes to you with a story - the stuff they tell you and the information they give you. Reviewing the application is like taking a jigsaw puzzle and throwing it up in the air, then trying to put all the pieces back together again. When you verify all their information, does it still tell the same story?

The credit check is part of that - but more important than the overall rating is the story it tells - does it match what the applicant has said verbally or in the rest of the application? If they tell you about something (divorce, injury, whatever) that damaged their credit a year ago and the credit record backs that up, that`s a good sign even if the Beacon/FICO score is poor. The thing is that lots of good tenants are going to have mediocre credit. There`s usually a reason they are renting and not owning. Doesn`t always mean they won`t pay rent and take care of the property.

 

[RCrein]

Basically she has decided to make up her own rules for leasing your apartment. What does this imply for your future interactions? Is it worth the hassle?

 

[creditinfocanada]

Im going to respond to a few points here and direct a few comments at Jims response.

When it comes to leasing out property everyones criteria is going to be different. Now there were some comments that you may have 6 applicants and why incur the costs on bureaus, well simply put " walk a mile in my shoes for a day" and you will see why.

In the last 15 years I have seen millions on top of millions lost by my clients. Why, fundamently there are a ton of reasons but in the end it can be focused on 2 different things, gut feelings (trust, friendship, family they would lend to) and the non-ability or non-attention to run a background.

Now to Jim I say this, as an Owner in the credit industry and someone who works with the court system on a daily basis in Alberta the comments of well if they have mediocre credit or they have been honest so I knew the details are the gut feeling, to this I say read above "walk a mile in my shoes". For those that dont know the collection market in Canada is a billion dollar industry, simply its a harsh reality. Look I am in no way saying dont talk to tenants, Im saying do a brief history with them than run them via credit. Mediocre credit means a history of late or deragatory items on a bureau, bankruptcies, judgments etc. Those are flame throwing instruments when you are screening tenants and flags that go up immediately.

Remember if you went to a bank and wanted something, they DONT CARE, in the end what type of life you have had, what circumstances you have been through, they care about the bottom line, ARE THEY GOING TO GET PAID and the credit bureau and debt ration and Fico score are what guides them. That is what the credit is for, a person can still have mediocre credit and be a good tenant, but its the instruments on the bureau that tell you what you are getting into.

Now to save $20.00 bucks per applicant by running other searches that are free are available like court searches, wrong they cost, lien searches, wrong they cost, at least in Alberta they do. $10.00 for a name search at the court (thats just getting the paperwork back) if you want to see anything else $1.00 per page and lien searches are about the same. Guys spend the money, whether you do it, or someone else does it protect the asset and credit screen of the hop.

Once again past LL searches only work if other LL subscribe to the service, 80% of them dont. Put it this way, if you can read a thread on how bad the tribunals are dealing with LL and Tenants, I guess the screening becomes that much more imperative.

Chris Bradnam
Credit Info Canada

 

[brentdavies]

Credit checks are a useful tool, but they just a one of many tools a landlord should have access to.

Some of the best tenants we have had in the past 25 years have been people with big black marks on thier credit. Why they cannot get a mortgage, and buy a house.
Learning how to read the credit is important.

The payment history is critiical, because you can be the next debt they ignore. More address on the credit report than the application. Warning sign.
Unpaid cell phone account. Almost every kid today has one. Why do they sell 3 contracts with phones that don`t last 2 years.

But one rule we have, a application that is not completed and signed, no further action is taken other putting the application in the dead application file.

What are they NOT telling you?

 

[Millions]

QUOTE (brentdavies @ May 16 2010, 01:11 PM) Credit checks are a useful tool, but they just a one of many tools a landlord should have access to.

Some of the best tenants we have had in the past 25 years have been people with big black marks on thier credit. Why they cannot get a mortgage, and buy a house.
Learning how to read the credit is important.

The payment history is critiical, because you can be the next debt they ignore. More address on the credit report than the application. Warning sign.
Unpaid cell phone account. Almost every kid today has one. Why do they sell 3 contracts with phones that don`t last 2 years.

But one rule we have, a application that is not completed and signed, no further action is taken other putting the application in the dead application file.

What are they NOT telling you?


Yes I know what you mean. the references did seem to check out. I called them all as people looking for jobs and what not to make sure it was not phony. My main problem is desperation. One months vacancy is one months salary for me. So its a very stressful time

 

[Stephen1151]

QUOTE (Millions @ May 18 2010, 06:36 PM) Yes I know what you mean. the references did seem to check out. I called them all as people looking for jobs and what not to make sure it was not phony. My main problem is desperation. One months vacancy is one months salary for me. So its a very stressful time


One bad tennent could equal one years salary in repairs...get the right tennent

 

[DaveRhydderch]

QUOTE (Millions @ May 18 2010, 07:36 PM) Yes I know what you mean. the references did seem to check out. I called them all as people looking for jobs and what not to make sure it was not phony. My main problem is desperation. One months vacancy is one months salary for me. So its a very stressful time


Millions you make a lot of posts about this property. I`m aware of your financials, but are you sure this is worth all this time and stress for you? Just something to consider.