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Renting basement suite first time

RELover

Inspired Forum Member
REIN Member
Joined
Apr 29, 2016
Messages
88
Hello All,

We are renting our basement suite for the first time.

What kind of information do I need from the applicant:

We are asking for five year employment history and employment letter, credit report, five year residence history with landlord references and 1 personal reference.
We will sign a 1 year lease. What special clauses should we include?
Anything else we should be doing?

Is it legal to do a police clearance?

Thank you.


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Marnie

Frequent Forum Member
Staff member
REIN Member
Joined
Oct 6, 2016
Messages
354
I would recommend the Tenant Application Form found in your Member Back Office, Knowledge Vault, Critical Documents, Tenant and Landlording Forms. This will give you all of the information you should need.

You likely won't need a five-year history of employment or residence history. The norm that I have seen is to get current and previous for both employment and residence. Go back through the property management section of your ACRE home study and / or the audio from our last ACRE in BC also in the Meeting Content of your Member Back Office.

I would also suggest you go back and listen to the November Alberta meeting content for a presentation done by Sherilynn Milsom on tenant screening and fraud detection. This should help you with all of the proper diligence with checks.
 
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