Tenant Screening Seminar

Christian Szpilfogel discusses tenant screening tools in this OREIO seminar. He outlines the main things to consider when screening a potential tenant and the best methods for verifying each of these key criteria. Important topics covered include using credit reports, which credit bureaus are best to reference, and maintaining consistency with the RTA.

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Navigating the Canadian real estate market has been a challenge for investors in recent years, with many eagerly anticipating signs of a potential comeback. While realtors and economic analysts often focus on traditional metrics like the sales-to-new listings ratio, months of inventory, and pricing trends, experienced real estate investors keep an eye on less-common indicators that offer unique insights. Let’s explore some unconventional signs of a market recovery that investors can track independently. Fewer 'For Sale' Signs in Starter Home Neighbourhoods If you’re seeing a noticeable reduction in 'For Sale' signs, especially in neighbourhoods known for starter homes, this is a key indicator. This can be linked to lower interest rates and increased employment stability, prompting a shift from renting to buying. The decrease in available starter homes for sale suggests a changing market dynamic, indicating heightened buyer activity. Decrease in Properties in Power of Sale/Foreclosure or under Contract with Wholesalers A decline in the number of properties under power of sale/foreclosure or tied up in contracts with wholesalers is a significant indicator. As excess supply is absorbed, less-motivated sellers are inclined to return to listing their properties on the Multiple Listing Service (MLS). The reduction in distressed property availability signals a market recovery, indicating a resurgence of properties returning to the open market. Uptick in Active Mortgage Brokers and Realtors An increase in the number of active mortgage brokers and real estate agents is a noteworthy indicator of market activity. During quieter market periods, many mortgage brokers and realtors diversify their income streams. An upswing in the engagement of these professionals in real estate transactions suggests renewed confidence in the market and an expectation of increased business opportunities. Decline in Commercial Units Available for Rent Fewer commercial units available for rent, signalling a decline in vacancy rates, is a crucial indicator of economic improvement. As economic conditions strengthen and entrepreneurs feel more confident, there tends to be a decrease in commercial property vacancies. The reduction in available commercial units for rent signals a potential uptick in business activities, reflecting a positive shift in the overall economic landscape. Position Yourself Strategically in a Recovering Real Estate Market While widely recognized metrics provide valuable insights into real estate market trends, savvy real estate investors understand the importance of keeping an eye on less-conventional indicators. Monitoring factors such as the number of 'For Sale' signs in starter home neighbourhoods, distressed property availability, the activity of mortgage brokers and realtors, and commercial vacancy rates can provide a more nuanced understanding of market recovery. By combining traditional and unconventional indicators, investors can make informed decisions, positioning themselves strategically in a recovering real estate market. 4 Signs of Market Recovery You Might Not Have Known About

4 Signs of Market Recovery You Might Not Have Known About

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Disclaimer: the resources on this website do not, and are not intended to, constitute legal or financial advice; instead, all information, content, and materials available in this guide is intended for general informational purposes only. Readers should always consult with their own professionals for their particular circumstances.

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