Contractor · Toronto, Ontario · Member since 2017 · 26 posts · 3 votes
Hello, So I am a long time lurker, first time poster. After about 3 years of learning I finally saved enough to jump in and buy my first house hack in Hamilton Ontario. I close today (Sept 26th) and was hoping to have someone rent the basement for Oct 15th. Just looking for some advice on how you experienced investors screen your tenants? It is especially important because I will be living above them. Thanks so much in advance!
Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes
9y
You're going to want to do a background check. Check their credit and their income. And then make sure that they seem like someone you'd want to live close to as well!
Rental Property Investor · Northville, MI · Member since 2015 · 179 posts · 92 votes
9y
Zack: Congrats on the closing and moving forward. Go to a local REIA meeting and see if you can find a real estate attorney, one that owners property or has owned property so that they know more than you do at this stage. Ask them for their forms and process they use. Don't be afraid to pay for this advice, in my experience it will be well worth it. You could also talk to local property management companies and ask them about their process and if they would manage the tenant for you. Good luck.