Why vacancy is a growing challenge for Ontario landlords in 2026

Ontario vacancy rates are at a multi-year high

Ontario landlords can address vacancy in 2026 by pricing units to current data, sharpening listings, screening tenants thoroughly, and building tenant relationships that cut costly turnover. According to Canada Mortgage and Housing Corporation (CMHC)’s 2025 Rental Market Report, released December 11, 2025, the Greater Toronto Area’s purpose-built vacancy rate climbed to 3.0% in 2025, its highest level since before the pandemic. Nationally, the average vacancy rate for purpose-built rental apartments across major centres rose to 3.1%, up from 2.2% in 2024. CMHC’s 2026 Mid-Year Rental Market Update, published June 9, 2026, shows asking rents continuing to decline in Toronto, Vancouver, Calgary, and Ottawa as new supply keeps arriving.

What softer conditions mean for individual landlords

A softer market shifts leverage toward renters. Nearby buildings competing for the same applicants, longer lease-up periods, and more comparison shopping all mean a unit priced or presented the way it might have been two years ago can sit empty far longer than a landlord expects. CMHC’s 2026 update notes that in some cases, it can now take months to fill a vacant unit, particularly in newer or higher-priced buildings. liv.rent’s own July 2026 Ontario Rent Report confirms the same pattern locally: most GTA municipalities recorded lower year-over-year unfurnished one-bedroom rents this July, with declines ranging from 0.6% in Burlington to 15.8% in Markham, and only Milton bucking the trend with a slight 0.3% increase. One-bedroom units accounted for 50.33% of active GTA listings this July, per the same report, so landlords in this segment face the most direct competition.

The real cost of a vacant unit

Every week a unit sits empty means a week of lost rent, on top of cleaning, advertising, and the hours spent screening applicants. Those costs add up quickly and rarely show up in a landlord’s initial budget for a vacancy. On a $2,000 monthly rent, for example, the lost rent alone breaks down like this:

That’s before adding cleaning, advertising, and screening time, which is why treating vacancy reduction as an ongoing part of managing a rental, rather than something to handle only once a tenant gives notice, keeps those costs from compounding.

Strengthen your rental listing to shorten vacancy time

Photos, pricing, and first impressions that convert

A listing’s first impression often decides whether a renter clicks through or scrolls past. Clear, well-lit photos, an accurate description of the unit’s condition and features, and a price that matches what similar units are actually renting for all shorten the time a listing stays up. With apartments accounting for 94.96% of active GTA rental listings this July, per liv.rent’s July 2026 Ontario Rent Report, most landlords are competing against near-identical unit types, so overpricing, more than any other single factor, is why units sit empty in a softening market.

Writing a listing description that attracts qualified tenants

A good listing description is specific rather than vague: square footage, included utilities, parking, and pet policy should all be stated upfront so renters can self-select before they apply. For tips on structuring a listing that converts, see liv.rent’s guide on how to write an attractive rental listing.

Incentives are shaping how landlords compete for renters

CMHC’s 2025 Rental Market Report found that 75% of GTA structures completed since 2022 offered at least one incentive to attract tenants during their lease-up period, most commonly one to two months of free rent. CMHC’s 2026 Mid-Year Rental Market Update adds that landlords are increasingly turning to free or discounted parking, gift cards, move-in credits, and cash bonuses to compete for renters in a softer market. Reaching a wide, verified pool of renters matters just as much as the incentive itself.

Price your unit right to avoid prolonged vacancy

Compare your rent to current Ontario data

Pricing decisions should start with the most recent local data rather than last year’s numbers. Per liv.rent’s July 2026 Ontario Rent Report, the City of Toronto’s average unfurnished one-bedroom rent fell year over year by $87 to $1,961 a month, while most GTA municipalities recorded lower year-over-year rents this July. Rents are still easing month to month too: Toronto’s unfurnished one-bedroom average slipped another $9 in July, while the furnished equivalent fell $11 to $1,918. Rent per square foot tells a similar story regionally, ranging from $2.81 in Downtown Toronto to $1.31 in Brampton this July, so where a unit sits within the region matters as much as its size.

Source: liv.rent’s July 2026 Ontario Rent Report.

That’s a $480 monthly gap between the region’s most and least expensive tracked municipalities, Oakville at $2,132 and Oshawa at $1,652, a reminder that hyper-local data beats a single citywide number when setting an asking rent.

Incentives versus lowering the asking rent

Landlords facing a slow lease-up have two main levers: lower the advertised rent, or keep the rent steady and add an incentive, such as a free month or reduced parking. Incentives can be easier to reverse once the market tightens again, while a lower asking rent may become the new comparable for future renters in the building.

Track neighbourhood trends with rent reports

Rent conditions vary block by block, not just city by city. Downtown Toronto, for example, saw one of the smallest year-over-year declines in the GTA this July, just 1.0%, easing from $2,127 to $2,106, while still ranking among the region’s highest-priced submarkets. Following liv.rent’s monthly Ontario Rent Report gives landlords a running view of which municipalities and unit types are softening fastest, so pricing decisions can be adjusted before a unit has already sat vacant for weeks.

Tenant screening: filling your vacancy with the right renter

What Ontario landlords can legally ask during screening

Ontario Regulation 290/98, a regulation under the Human Rights Code, sets out the business practices landlords may use when selecting a tenant. According to the Ontario Human Rights Commission, landlords may request credit references, rental history, and credit check authorization, and may request income information only if they also request the others. None of these tools can be used to screen out an applicant based on a protected ground such as race, family status, or disability.

Key documents to request: income, credit, and rental history

A consistent screening process, applied the same way to every applicant, protects both the landlord and the tenant. Request the same documents from every applicant: proof of income, consent for a credit check, and contact information for a previous landlord.

Why rushing the screening process costs more than waiting

Filling a vacancy quickly with an unscreened tenant can create far more expensive problems than a few extra weeks of vacancy, from missed rent to a lengthy Landlord and Tenant Board process to resolve it. liv.rent’s built-in tenant screening tools, including the Trust Score credit and background summary, let landlords assess applicants quickly without cutting corners.

Tenant retention strategies that prevent vacancy before it starts

Early lease renewal conversations reduce turnover

The cheapest vacancy to fill is the one that never happens. Reaching out to a good tenant a couple of months before their lease ends, rather than waiting for them to bring it up, gives both sides time to work out a renewal instead of defaulting to a move-out.

Maintenance responsiveness as a vacancy prevention tool

Tenants who feel their maintenance requests are handled promptly are far more likely to renew. Slow repairs are a common, avoidable reason good tenants start looking elsewhere.

Weighing a rent increase against the cost of re-leasing

On a $2,000 monthly rent, Ontario’s 2026 guideline of 2.1% adds $42 a month, or $504 a year, if applied to a sitting tenant. Compare that to the cost of a turnover: lost rent while the unit sits empty, cleaning, advertising, and screening time, and, in CMHC’s words, in some cases it can now take months to fill a vacant unit. In a softer 2026 market, retaining a reliable tenant is often the better math.

Understanding vacancy decontrol and what it means for Ontario landlords

What vacancy decontrol means under the Residential Tenancies Act

Ontario’s annual rent-increase guideline, 2.1% for 2026, applies to a sitting tenant’s rent. It does not apply once a unit becomes vacant and a new tenant agrees on a rent amount with the landlord, according to Ontario’s residential rent increases page, last updated June 23, 2026. This is commonly known as vacancy decontrol.

How to set market rent for a new tenancy

Once a new tenant signs a lease, the 12-month rule and the annual guideline apply going forward for that tenancy. Landlords must still give 90 days’ written notice, using the proper Landlord and Tenant Board form, before any future increase takes effect.

Rent-controlled versus exempt units in 2026

Buildings, additions, and most new basement apartments first occupied for residential purposes after November 15, 2018 are generally exempt from the rent-increase guideline entirely, per Ontario’s rent increase rules. For a broader look at how these rules interact with eviction notices and tenant protections, see liv.rent’s Ontario rental laws resources.

How liv.rent helps Ontario landlords address vacancy faster

Listing your Ontario rental on liv.rent

Every strategy in this guide, sharper pricing, a stronger listing, careful screening, and tenant retention, works better with the right tools behind it. liv.rent gives Ontario landlords access to a large pool of verified renters, reducing the time a listing spends unseen by qualified applicants.

Built-in screening, digital leases, and dashboard tools

liv.rent’s landlord dashboard brings ID-verified applicants, Trust Score credit and background checks, digital lease signing, and rent collection into one place, so landlords spend less time juggling tools and more time filling the vacancy. For more on managing renewals and maintenance requests in one place, see liv.rent’s guide to the landlord dashboard and digital tools.

Getting started in minutes

Listing a rental on liv.rent takes just a few minutes, and landlords can post their first listing for free. Combined with the pricing, screening, and retention strategies above, it is a practical way for Ontario landlords to keep vacancy short and costly turnover rare in 2026.

The post How Ontario landlords can address vacancy in 2026 appeared first on liv.rent blog.

The numbers

Background

The landlord

“As an all-in-one rental platform, liv.rent was really designed to save both landlords and tenants time & stress, while simultaneously keeping them safe.”

Olivia Lam, Founder of liv.rent

• Number of listings managed: 5
• Rental platforms used previously: Facebook Marketplace, Craigslist, VanSky, VanPeople, Little Red Book
• Management software used currently: liv.rent
• Primary concerns: Efficiency, protecting the property, finding a suitable match

Olivia maintains 5 rental properties across Metro Vancouver, which can quickly become a time-consuming addition to an already busy schedule. For her, the rental process is all about minimizing stress while ensuring that her unit is filled with qualified tenants who won’t cause problems later on.

Prior to founding liv.rent, Olivia had been manually posting her listings on a variety of popular listing platforms, as well as local rental groups.

As with many landlords, she became frustrated with the time-consuming nature of the rental process – especially given the number of applicants she had for each of her five properties. Aware of the pressing danger of rental scams, Olivia was cautious to carefully screen each renter that applied to avoid missed payments and costly damage to her rental properties, while also making ongoing management of the units easier by ensuring vacancies were filled with tenants she could trust.

Challenge #1: Streamlining the application & pre-screening process

“Some days I’d receive 30-40, even upwards of 60 applications for a single unit. Being able to access all of these applications in one place was a huge time-saver.“

Olivia Lam, Founder of liv.rent

One of Olivia’s biggest frustrations with the rental process prior to founding liv.rent was having her email inbox clogged with rental applications. With multiple businesses to run and a jam-packed calendar, she felt like she couldn’t give each application the attention it deserved since there were simply so many to keep track of.

Solution: Centralizing leads on liv.rent

After consulting the latest rental data to get a sense of the market, Olivia began her rental process in earnest by creating a liv.rent listing and sharing it to a variety of other platforms in order to reach more qualified renters. For Olivia, the more prospective tenants she could reach, the better.

Directly through liv.rent, Olivia was able to share her listing to Craigslist, Facebook Marketplace, and Kijiji with built-in marketing tools. Through this feature, she was able to easily transpose the entire listing including photos, already pre-formatted for other sites.

Since Olivia has had great experiences renting to international renters in the past, she also manually shared her postings to other platforms such as VanSky, VanPeople, and Little Red Book. With the help of the Trust Score, liv.rent’s tenant screening tool, she was able to look beyond credit information and accurately evaluate & consider other groups of renters whose applications may be overlooked by many landlords.

Each of these shared listings contained a link to the original listing on liv.rent, plus instructions for how to apply. As other landlords have done, Olivia used this opportunity as a “pre-screening” step to get a sense of how well applicants could follow directions and whether or not they were interested enough to make the effort.

Challenge #2: Getting applicants to complete their Trust Score

Once they had signed up for liv.rent, Olivia also asked applicants to get a Trust Score through the platform to aid in her decision-making.

While most applicants were more than happy to complete their liv.rent profile and get a Trust Score rating, some renters were understandably wary to enter that much personal information online. Some had concerns about how their data would be used, why it was necessary to provide it, and what measures were in place to protect it.

Solution: Emphasizing transparency & security

“Being a landlord is a lot different today than when I first started renting out property. Due to increases in scams and reports of troublesome tenants, I have to be more cautious than ever now – which is why most landlords ask for so much documentation.”

Olivia Lam, Founder of liv.rent

For Olivia, getting a complete picture of applicants is a necessity. To reduce turnover and create successful, lasting landlord-tenant relationships, it’s extremely important for Olivia to cultivate trust & transparency from the get-go.

Trust is a two-way street though, which is why Olivia made sure to point out to hesitant applicants that she had already been verified through liv.rent’s multi-layered process. She also highlighted the industry-leading data security procedures that protect all liv.rent users’ information – including important documents uploaded for verification purposes.

When prospective tenants expressed reluctance at providing things like their driver’s license and credit history, Olivia explained that all user information, including everything that is submitted to generate a Trust Score report, is stored securely in the cloud and protected by military-grade encryption protocols. For those who required further explanation, she made sure to link them to liv.rent’s Privacy Policy to quell any lingering doubts.

By this point, nearly every renter felt confident providing the required information and Olivia was able to proceed with her tenant screening process using the Trust Score.

Challenge #3: Making a final decision

“Deciding which renter(s) to choose during the end stages is always very difficult for me. I typically favourite applications that stand out so that our conversations are easily accessible, but in most cases, there are multiple applicants who I think would make great tenants”

Olivia Lam, Founder of liv.rent

Since some of Olivia’s rental properties are on the higher end in terms of rent price, her primary concern was finding tenants who could reasonably afford to pay rent on time with no foreseeable problems.

Even with the current market conditions, there was no shortage of applicants whose financial situation seemed suited to the listing they were applying for, so Olivia had to rely on the Trust Score to provide more insight into each applicant’s rental history and overall patterns as a tenant, and more importantly as an individual.

Solution: Going beyond finances with the Trust Score

Using her most recent listing as an example, Olivia had narrowed the field to three sets of candidates: a young couple, a graduate student moving from abroad, and a single professional. All of these applicants had complete profiles on liv.rent and plenty of supporting documents that clearly showcased their rental history. Even though the international student didn’t yet have a credit history in Canada, they were able to provide proof of funds that adequately proved their ability to make rent payments.

Faced with three excellent options for future tenants, Olivia had to look more in-depth at each of their Trust Score reports to find the perfect fit for the property in question.

Beyond vital information like applicants’ Credit Summary, Risk Assessment, and Income-to-rent Ratio, Olivia paid particular attention to each renter’s Trustworthiness score, making sure to view the documents they had submitted as an added layer of protection.

Ultimately, while the Trust Score played an integral role in creating a “shortlist” of qualified applicants, the final decision came down to who was the best match for this particular property, since each applicant was equally well-suited financially.

After speaking to each of the prospective tenants in-person at scheduled showings as well as online through liv.rent’s Instant Chat, Olivia decided to proceed with the young professional, who had an excellent financial history and seemed like the best fit for the building and neighbourhood.

In brief

With 5 rental properties and a significant investment on the line, the importance of an efficient and all-encompassing tenant screening process was magnified in this case.

Here’s a quick summary of the steps Olivia followed to ensure she was connecting with qualified renters at every step of the rental process:

1. Sharing to multiple platforms: Using both built-in sharing features as well as reaching an additional audience through manual sharing, Olivia was able to ensure that her listing was put in front of more renters. Expecting a high volume of applications, she also took steps to streamline the process from the outset by directing all interested renters to liv.rent – where she could see all their information in one place, communicate directly, and also favourite applications to ensure they don’t get lost throughout the lengthy rental process.
2. Prioritizing mutual trust at every stage: In this digital age, landlords necessarily require a lot of information about tenants in order to make informed and accurate screening decisions. However, Olivia was also keenly aware that tenants are particularly concerned about rental scams and took measures to promote two-way transparency right from posting her listing. By verifying her profile and listings and reassuring renters about the safety of their information, she was able to do her due diligence while also ensuring applicants knew they were in a safe situation.
3. Looking beyond traditional credit checks – For nearly every landlord, finding tenants who are able to pay rent in full and on time is usually priority #1. When there are multiple applicants who all meet your financial criteria though, landlords & property managers need additional information to reference in order to make a final decision. In Olivia’s case, her choice often comes down to a number of equally suitable renters, in which case she looks at additional information like their Detailed Risk Assessment and Trustworthiness in order to get a complete understanding of who she’ll be renting to.

Takeaways from this case

Olivia’s rental process showcases how landlords can make well-informed tenant screening decisions and save time without compromising renter safety in the process.

Here are some key takeaways from this case study:

1. All-in-one solutions make managing multiple properties possible — From beginning to end, Olivia was able to use the liv.rent platform as her one-stop hub for all relevant communications, applications, showings, and even contracts & rent payments.
2. Doing your due diligence makes for stress-free tenancies — For landlords & property managers renting out multiple units, ensuring each vacancy is filled promptly with trustworthy tenants is paramount. Though it may require additional effort upfront, the countless hours saved from dealing with troublesome occupants is well worth it.
3. Trust is a two-way street — While landlords need to ask for a lot of information throughout the application process, it’s important to remember that today’s renters are hyper-aware of rental scams. Taking the time to verify your profile and listings is an excellent first step towards building a relationship of trust & transparency.

Rethink The Way You Rent

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The post Landlord Case Study: How to streamline tenant screening for multiple rental properties appeared first on liv.rent blog.

Why it’s important to get a tenant’s credit report

Doing your due diligence when it comes to selecting tenants is an integral part of the rental process. After all, you’re essentially inviting strangers to live on your property – which doesn’t come without risk.

In order to evaluate both the financial suitability and trustworthiness of applicants, credit checks have become an indispensable tool for landlords and property managers to screen tenants. A tenant credit check can provide you with valuable information on an applicant’s credit history, borrowing patterns, and overall reliability. By reviewing this information, you can make an informed decision on whether to accept or reject a rental application.

The main purpose here is to protect your investment and minimize the risk that comes with renting. By choosing to rent to applicants with a strong credit score and a good history of making payments on time, you’re cutting down on your chances of late or missed rent payments, or worse.

How much does an untrustworthy tenant cost?

Troublesome tenants don’t just take an emotional toll on you, they can also seriously impact your financial situation and turn your profitable rental business into a costly burden. It’s not just missed rent payments that landlords have to worry about, either. In addition to causing you to lose out on potential revenue, untrustworthy tenants can add a ton of unforeseen expenses to your operations by causing significant damage to the unit, scaring off neighbours, and refusing to move out.

Here’s a sample breakdown of what an untrustworthy tenant could cost you, in a worst-case scenario:

• Damage to interior finishes — $3,300 ($300 for drywall repairs, $3,000 for painting)
• Missed rent payments — $2,500 (approximate average monthly rent for a 1 br. unit in Vancouver or Downtown Toronto)
• Plumbing repairs — $390
• Unhappy neighbours/other tenants leaving — $2,500
• Eviction / legal fees — $1,050)
• Vacant unit — $2,500

Total: $12,240

Bear in mind that this is just an estimate, and is based on a situation where the tenant not only misses rent payments, but also causes damage and major disturbances to other tenants. Still, this worst-case scenario can quickly become a reality if landlords aren’t proactive about their tenant screening.

How to get a tenant’s credit check in Canada

Credit information in Canada typically comes from one of the country’s two major credit bureaus: Equifax® or TransUnion®. There are a few ways landlords can obtain this information:

• Directly from a credit bureau — With applicants’ consent, landlords can grab a credit report from either of Canada’s two major credit bureaus
• Through a tenant screening service — Tools like liv.rent’s Trust Score allow you to quickly & easily access applicants’ credit history, often including additional information as well – like income & employment verification documents, court records, and a detailed risk assessment in the case of the Trust Score.
• Asking the tenant to provide a credit report — It’s also common for landlords to ask tenants to purchase a credit report themselves and provide a copy with their application.
• Using a property management company — Some busy landlords opt to use a property management company for handling their rental properties. These professionals will also take care of tenant screening for you using one of the above methods.

What information does a tenant credit check include?

A tenant credit check in Canada is primarily used to evaluate a tenant’s financial suitability based on their spending habits and debt levels. This takes the form of a credit report that summarizes their credit history, including:

• Credit score
• Any outstanding debts, loans or bankruptcies
• Payment history on loans, credit cards, and other financial obligations

The Trust Score from liv.rent also includes additional information, like:

• Employment history and income details
• Court records or other details
• Risk assessment

How much does a tenant credit check cost in Canada?

The cost of a tenant credit check in Canada varies greatly depending on the method used to obtain it. Getting this information can be free to landlords if they request that tenants pay for and provide their own credit report, however there are plenty of different ways to get this information on your own at varying price points.

Typically, a tenant credit check will cost $10-30 per report from either Equifax® or TransUnion®, with prices varying greatly depending on the level of detail and the specific package purchased.

If you’re using a third-party tenant screening service, prices similarly range from about $15 per report, to monthly and yearly payment plans that offer several included reports for a given period. The section below will provide a more detailed overview of the different credit check options available to Canadian landlords, including pricing for each.

The best credit check tools for Canadian landlords

1. liv.rent

The Trust Score from liv.rent goes beyond credit checks to give a complete understanding of applicants’ suitability. As you can see from the chart above, liv.rent provides landlords & property managers with information that isn’t found on a traditional tenant credit check, all condensed into an easy-to-read score for filtering out unqualified applicants at a glance.

Individual landlords can choose between a variety of flexible pricing options. With a free Essentials Plan, you can add on a Trust Score report for just $16.99, or you can opt to enroll in liv.rent’s Growth Plan to receive 2 included Trust Score reports per month, plus a variety of other time-saving features like lease protection addendums and automated multi-platform advertising for up to 2 units.

This innovative tenant screening feature provides greater security for renters, as their Equifax® credit info and uploaded photo ID are only stored until their Trust Score has been calculated, at which point this data is securely deleted by the server.

Here is a sample Trust Score report:

How to unlock the Trust Score

The Trust Score is available even for tenants applying from outside of liv.rent. All landlords need is a verified profile to generate Trust Score reports – no liv.rent listing or tenant application is required.

Follow the steps below to unlock Trust Score reports for tenants applying both from within and outside of the liv.rent platform:

1. For liv.rent renters
   • Create a liv.rent listing
   • Ensure that both your ID and listing are verified
   • Once you receive an application from a renter whose Trust Score report you’d like to view, click “Unlock Trust Score”
   • Redeem a Tenant Screening Report credit or complete payment to unlock the full Trust Score report
2. For tenants outside of liv.rent
   • Sign up for a liv.rent Landlord account
   • Verify your ID
   • Navigate to the “Trust Score” tab on left-hand side of your Landlord Dashboard while logged in
   • Follow the prompts to submit the applicant’s information and complete payment

Note: Landlords generating a trust score on an applicant’s behalf must first obtain their written consent to perform a credit check. You can do this by downloading and completing this Tenant Consent Form.

How to read the Trust Score

The Trust Score is broken down into sections to give landlords a complete overview of prospective tenants’ reliability. For a quick guide on how to read and understand an applicant’s Trust Score report, you can watch this short how-to video.

Does the Trust Score impact the tenant’s credit score?

The Trust Score gathers information from renters’ Equifax® credit reports and will appear as an inquiry on their credit file. This will impact their overall credit score, however the impact will not be significant since the Trust Score is not an application for credit.

A new credit inquiry is conducted whenever a landlord unlocks a renter’s Trust Score. Multiple inquiries within a short period generally count as one credit check, so when renters apply for numerous listings they are unlikely to see multiple inquiries on their credit history.

2. SingleKey

SingleKey offers a simple platform that provides detailed reports using information from Equifax® credit checks. Where SingleKey sets itself apart is in its speed. The site advertises a less than five-minute processing time for a tenant credit check, which allows landlords to get the answers they’re looking for faster than getting it directly from a credit bureau.

However, this speed can’t compete with the instant response given by liv.rent through the Trust Score feature, which allows landlords to instantly view necessary renter information the moment they apply to a listing.

In terms of information, SingleKey offers a similarly comprehensive overview to other top options, combining an overall Tenant Score with a broken-down series of metrics that display the most pertinent information for landlords. The platform also gives users the ability to pay as you go, at a cost of $25 per report.

3. Naborly

Naborly is another popular option for screening tenants, also relying on Equifax® for the bulk of its information. Similar to liv.rent, Naborly provides landlords with a single score that factors in data like employment history, court records, and credit information to paint a picture of the applicant as an individual and as a tenant. Naborly also makes it easy to get approval for these checks with a built-in application process

Some landlords may also prefer the flexibility Naborly offers, as there is a flat rate of $25/check with no additional membership or subscription fees. It’s worth noting though that Naborly is intended to be used solely for tenant screening, and doesn’t offer the additional functionality provided by all-in-one rental platforms like liv.rent.

4. FrontLobby

FrontLobby is unique in that it allows landlords to report tenants’ rent payments to Equifax®, helping to establish renters’ reliability while giving fellow rental managers an additional metric to look at. Additionally, landlords can purchase add-on credit and background checks, at varying prices based on the plan chosen.

For the most part, these checks are standard credit reports, although the rent reporting feature and additional functionality FrontLobby offers make it an intriguing choice for some landlords. With that being said, these features are only available through the platform’s paid plans, which still require landlords to pay add-on fees for credit and background checks.

5. TransUnion SmartMove

TransUnion®’s SmartMove service is another popular option for Canadian landlords that distinguishes itself on its speed and ease of use. After registering, landlords can directly send a request for a credit check to tenants. Once they’ve completed their application, you can see the applicant’s information in minutes – including their credit check, criminal & eviction history, and income insights.

All this information is contained within their ResidentScore™ feature which will also help with quick decision-making. The $25 per report price point is standard compared to other options listed here, however it’s worth noting that this is for their SmartCheck Basic Report, which only includes applicants’ credit-based ResidentScore™ and a criminal background report. For a full credit report, landlords will need to pay $39.99 for SmartCheck Plus.

6. Equifax

Equifax® remains one of the most popular tenant credit check platforms in Canada since many landlords prefer to get reports from the bureau itself. This is a standard credit report and doesn’t contain much of the information found within some of the other options here that are designed specifically for landlords.

Still, Equifax® offers great flexibility in terms of pricing, as landlords can also opt to have tenants pull their own credit report, which can be free using a trial for the service. For the most complete information, Equifax® recommends using their Complete™ Premier plan, which costs $19.95/month.

What makes the Trust Score from liv.rent unique

The Trust Score enables Canadian landlords to find the right renters quickly and easily, going beyond a credit check to provide a complete picture of applicants’ suitability.

We’ve recently upgraded the Trust Score to include additional information, giving landlords & property managers even more tools to make important tenant screening decisions. Alongside these changes, we’ve implemented new, flexible pricing options to suit a variety of rental management needs – including the option to purchase add-on reports for just $16.99 each.

With any renters that apply to their listings, landlords will be able to see:

• The number of accounts checked to qualify their payment record
• Collections record
• Bankruptcy index
• Income-to-rent ratio
• Credit utilization
• Income & Employment verification documents
• A detailed risk assessment
• & much more

This score is immediately available to unlock & view for any applicants who have already completed their profile and been given a Trust Score, allowing you to evaluate renters faster.

Click here to learn more about how the Trust Score can help you find qualified renters and manage risk in your rental property.

FAQ: How to do a credit check on tenants

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The post How to do a credit check on a tenant appeared first on liv.rent blog.

Hi everybody! My name is Matisse and I work here at liv.rent as the Marketing Manager. I rent out three properties and use liv.rent to manage them and find my tenants. Recently, I successfully rented out a 3 bed, 3 bath listing in Vancouver in less than 10 days from the listing to the contract being signed. During this time, I received more than 90 inquiries and 50 applications for my apartment. 

I’ll be going through exactly what I did and how you can use the features available within liv.rent to simplify the tenant search and screening process and rent out your apartment fast.

How can I find a tenant faster?

Like most landlords, I’m extremely busy and always looking for ways to do more on the go. My favourite thing about liv.rent is that I can do everything on my phone and cut out a lot of the time that’s usually wasted during the rental process. This allows me to find qualified renters faster, with less time and energy spent on my end.

To break it down, my flow essentially consisted of four simple steps:

1. Share your listing to multiple sites to reach more tenants
2. Use liv.rent as my rental hub
3. Screen candidates using liv.rent
4. Send video tours and book time slots

I’ll be going over what each of those steps looks like and how to rent out an apartment fast using liv.rent.

Share your listing to reach more tenants

To reach more qualified tenants, it’s important to cast a wide net. Thankfully, liv.rent makes it easy to advertise your listing on multiple sites so that you can reach as many interested renters as possible.

This was relatively easy for me as I’m part of a lot of different Facebook groups, but it also led to a barrage of messages from tenants. I received 150+ inquiries in total, which was great for getting leads, but I needed a way to filter out the really interested candidates.

If you’ve used Facebook Marketplace in the past, you know that about 95% of the messages you receive are the standard “Hi, is this still available?”. I didn’t have time to go through and reply to every single message, so instead I directed all interested applicants to my liv.rent listing and communicated there. This is essentially your first screening step as it eliminates the candidates who aren’t committed, while also organizing all your communications into one convenient location.

Use liv.rent as your rental hub

Once my listing was up and running, I started receiving messages on Facebook Messenger instantly. Whenever this happened, I would direct the candidate to message me and apply on liv.rent. This is important because I don’t want to continue any communication on Facebook – it’s a better way for me to organize my chats and keep all the communication and documents in one place. 

No matter where you post or advertise your listing to, you want to direct all your leads back to liv.rent (I call it my rental hub) and tell them to apply there. From there, I received over 50+ applications which was quite overwhelming. So, what I ended up doing was going through each application and short-listing or favouriting my top applicants. 

Screen tenants and create a short-list using liv.rent

Once I have a good number of applicants on liv.rent, my next task is filtering out any renters who don’t seem 100% interested in moving forward with my listing, and also any renters who don’t fit my requirements. I’m looking for someone who will take care of my unit, respectful of noise levels, and of course, can pay their rent on time. 

With this in mind, I created a tenant screening flow using liv.rent to help me save time and streamline my entire rental process. I work full-time and I really didn’t want to waste my energy on anyone who either wasn’t qualified or wasn’t seriously interested in renting my unit. 

Normally the Trust Score is the first thing that I check when looking for new tenants. Students, particularly international students who apply, may not have a credit history in Canada. In this case, I would defer to their submitted statements to see if they are employed, if they have an income, or are otherwise able to pay for rent. I also made sure to call the references listed on their application to better understand who they are as a renter. 

Send video tours and book showing time slots

After I narrowed down my top applicants to about 15, I sent the remaining candidates a link to my video tour using liv.rent and asked them to book a showing if they were still interested in the apartment. I created some options for time slots for my listing and let them know that they could go ahead and book one that was still open. 

When all was said and done, I ended up with about 10 tenants who booked a viewing – my pool of high-intent renters who I knew were seriously interested and fit all my requirements. I was able to rent out this listing in just about 10 days – I could have rented it out faster if I wanted to, but I chose to do my due diligence and go through more applicants to ensure I was totally satisfied with who I chose to rent to. 

I rented my suite out to 3 international students and I was able to use the built-in contract and pre-vetted addendums to quickly and easily get all the paperwork in order.

My tips for renting out an apartment

To summarize, let’s recap a few of the most important tips and features that helped me streamline the rental process using liv.rent and ultimately rent my apartment faster:

• List on multiple sites using built-in sharing features
• Direct all of your communications to your rental hub on liv.rent
• Use liv.rent features to screen and short-list potential tenants
• Send video tours and conduct showings
• Create contracts and addendums using liv.rent

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

Subscribe to receive the latest tenant & landlord tips and get notified about changes in the Canadian rental market.

>> Stay up-to-date on the average rent in Vancouver, Toronto and Montreal: Rent Reports.

The post Landlord Success Story: How To Rent Out An Apartment In 10 Days appeared first on liv.rent blog.

The numbers

Background

The landlord

• Number of listings managed: 1
• Rental platforms used previously: Facebook Marketplace, Craigslist
• Management software used currently: liv.rent
• Employment status: Employed full-time
• Primary concerns: Safety, saving time, finding a suitable match

The landlord in this case was renting out a two-bedroom partial house in Vancouver’s Riley Park-Little Mountain neighbourhood, seeking a source of passive income without the stress of troublesome tenants. The listing was originally posted to Facebook Marketplace, as well as liv.rent’s own Facebook Group.

In the posting, the landlord expressed that she would prefer a family or young professionals, and that her main priority was having responsible tenants who she could trust to pay rent on time and take care of the unit.

“I was so grateful to learn about liv.rent. My colleagues already knew about it, but I had no idea how much help it would be!“

The tenants

• Budget: $2,200
• Areas of interest: Cambie Village, Mount Pleasant, Point Grey/U.B.C.
• Reason for moving: Relocating for work opportunity
• Employment status: Employed full-time
• Primary concerns: Safety, budget, securing a home before arriving in Canada

A family of renters reached out to liv.rent’s support team, looking for a place to rent in Vancouver for under $2,200 per month. These tenants were moving to Canada from abroad, and had been continually inquiring to two-bedroom units near the University of British Columbia with few results to show for it.

Though their budget was far below the city-wide average rental rates, our team of Rental Experts accepted the challenge and promised they’d do all they could to find a suitable property. The tenants were almost set to depart for Vancouver, and needed a place as soon as possible. The family was relocating for a work opportunity, with the husband/father having previously worked in a globally-renowned university.

How they did it

A perfect match

While researching listings for potential outreach, liv.rent’s client success team came across a two-bedroom partial house for rent in Vancouver for a lower-than-average monthly rent price. Shared to liv.rent’s Facebook Group, the listing had only been available for a short time but had already been saved by a number of interested renters. Recalling that we had recently spoken to a family of tenants whose preferences aligned nearly perfectly with this listing, we contacted the landlord by phone, leaving a voicemail to let them know that a family of qualified renters was interested in the unit, highlighting that they had already verified their key information for the landlord’s peace of mind. liv.rent isn’t a placement agency, but we always try to assist in situations such as this one where there’s an opportunity to connect like-minded landlords and tenants.

The landlord returned our call almost immediately, sympathizing with the renters’ situation and curious to learn more about their suitability as tenants. After the landlord expressed frustration with the typical rental process and the number of time-wasting replies on other sites, our Rental Experts explained how liv.rent could simplify their renting with built-in tenant screening, marketing, digital contracts & rent payments, and other automation features.

Getting verified

While still on the line with our support representative, the landlord created her free Essentials account. She then filled out her listing’s details using liv.rent’s pre-loaded template, attaching photos of different angles of the unit, as well as a pre-recorded video tour since the tenants were renting from abroad. She proceeded through the verification processes, uploading a picture of her photo ID and land title documents.

The unit itself was a two-bedroom, one-bathroom partial house with a private entrance – and best of all, it was located in a family-friendly neighbourhood with easy public transit routes to U.B.C., perfect for the young family.

In just over 15 minutes, our team had successfully verified the landlord’s account and address, and her listing was ready to be shared! Using the easy built-in sharing features, the landlord was able to invite the tenant to apply directly, starting a conversation over liv.rent’s instant chat to streamline communication.

Simplifying the tenant screening process

After reviewing their application and asking the prospective tenants some preliminary screening questions, the landlord felt ready to continue with the rental process. Although the renters didn’t yet have a credit history in Canada, the Trust Score and liv.rent’s identity & income verification processes gave the landlord peace of mind to proceed. As the tenants were currently in Latin America, both parties had to work around a 4-hour time difference. Using liv.rent’s instant chat though, they were able to find a time slot that worked for everyone and arranged for a Zoom interview.

Virtual tours make renting from abroad a breeze

During a half-hour video call, the landlord asked a series of questions to get to know the renters better, answering any questions they had as well. While still on the call, the landlord performed a video walk-through of the property, showing the tenants each room as while as the exterior of the unit and the surrounding neighbourhood. The tenants were thrilled with what they’d seen, and the landlord was satisfied that she’d found the perfect tenants for her unit.

Making it official with digital contracts & rent payments

With both parties in agreement, the landlord created a lease agreement using liv.rent’s auto-filled lease templates, generated in seconds using the information they’d already entered onto the platform. Next, the landlord sent a Payment Request for the rent deposit through liv.rent, which the tenant promptly and securely paid directly on the platform.

As easy as that – the lease agreement was complete and both the landlord and their new tenant had found a great match in under 24 hours from the original listing being posted.

How liv.rent helped

From start to finish, this case study shows how liv.rent’s digital tools were key to this landlord renting out their listing in 24 hours, ensuring both parties were able to proceed safely and easily. Renting online can normally pose a number of threats: the tenants might not be who they say they are, their documents may not be valid, or they might not be as interested as they say they are. With liv.rent, the guesswork was taken out of the equation as the tenants had already taken the time to verify their paperwork – showing that they were a.) interested, and b.) qualified to rent.

Once posting their listing on the liv.rent platform, the rental process took mere hours, as both parties were able to do everything they needed in one convenient place. With tenant screening features built right into the platform in the form of the Trust Score and liv.rent’s verification processes, the landlord was able to easily gauge the renters’ qualification in just minutes, rather than waiting for a traditional credit check. Then, using digital contracts and rent payments, the remainder of the rental process took less than an hour.

Since there was a time difference involved and the renters weren’t able to see the unit in person before signing a lease, liv.rent’s support for up to 20 photos, as well as video uploads, was integral to properly preview the property. The instant chat feature also played a big role in ensuring streamlined communication throughout, rather than constantly waiting for emails to send or communicating across different messaging apps.

“liv.rent was a game-changer. From verifying my listing to creating & signing a lease – everything was so easy. I’m never going back!“

Takeaways from this case

While 24 hours is definitely on the lower end of the time it takes to rent out a unit, there are three key things landlords can take away from this case study on renting out their listing:

1. With the right tools, renting online can be both safe & easy — Many landlords are wary of tenants renting from abroad, preferring face-to-face interactions over digital ones. This case showed how with liv.rent, landlords and tenants can establish a similar connection through mutual verification, instant chat, and video uploads/tours.
2. The right tenants are worth making an effort for — Though their listing was originally posted to Facebook Marketplace, this landlord took advantage of liv.rent’s features in order to make communicating with these prospective renters easier. Doing this allowed them to make better-informed decisions about who they were renting to, ultimately leading to a perfect match and a happy, long-lasting tenancy.
3. Mutual trust is key to successful renting — The primary factor in this case study for renting out a listing in 24 hours was trust. Since both parties were absolutely sure that the other was trustworthy and a suitable match, the rental process was able to proceed much faster than usual.

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

Subscribe to receive the latest tenant & landlord tips and get notified about changes in the Canadian rental market.

>> Stay up-to-date on the average rent in Vancouver, Toronto and Montreal: Rent Reports.

The post How a Vancouver landlord rented out their listing in under 24 hours with liv.rent appeared first on liv.rent blog.

Read on for our complete list of apps every landlord should have, or use the table of contents below to navigate to a specific section.

What are the best apps for landlords?

Renting out property has developed a reputation for being a tiresome, neverending job thanks to potentially troublesome tenants, constant upkeep, and making sure you’re getting paid on time. Thankfully, this has changed over time as more and more technologies evolve to free up landlords’ valuable time. The reality is that with the right tools, Canadian landlords can save themselves a ton of time and effort by automating essential duties like marketing, tenant screening, and contract signing.

Even better, all of these things can even be done while landlords are on the go as smartphones grow more sophisticated and mobile apps gain popularity. In fact, there are even some apps that do it all, in one place — which brings us to our first section. Read on for the best all-in-one landlord apps available in Canada.

All-in-one landlord apps

Today’s busy landlords need one app that does it all. Listing, marketing, screening tenants, signing lease agreements, and rent payments: these apps can support landlords through every step of the rental journey, albeit to varying degrees. Only one rental app truly lets landlords do everything, even while they’re on the go — and that’s liv.rent. Here’s the top five options for all-in-one rental apps and what each offers.

1. liv.rent

Unsurprisingly, our first pick on this list is liv.rent. In addition to being Canada’s safest rental platform with features like listing verification and the Trust Score, liv.rent allows landlords to post & share listings, screen tenants, sign digital contracts, and perform other rental management duties from anywhere with a handy mobile app. This all-in-one landlord productivity tool has just about everything landlords and property managers could ask for, and best of all — it offers a free Essentials plan for landlords. With a full 12 out of 12 features, liv.rent is truly the full package.

For landlords looking to further streamline their rental process and gain access to the same tools used by professional property managers, liv.rent’s new Growth plan is here to make renting even easier. The Growth plan is effectively an all-in-one property management software package, with all the tools you’ll need to digitize and streamline your rental process from start to finish. For just $48/month, this comprehensive plan includes:

• Unlimited lease protection addendums
• 2 Trust Score reports with credit check per month
• Automated rental advertising (2 per month)
• Shared management tools for up to 3 users

…plus everything in our Essentials plan.

2. Buildium

Buildium is another rental management software that’s available in Canada and offers landlords quite a few useful tools. Designed for property managers, this app is quite capable at handling day-to-day rental operations, but lacks some features that individual landlords might need, like instant chat and efficient, automated advertising.

3. Yardi Breeze

Another complete property management solution, Yardi Breeze is a Canadian platform with an assortment of solutions for busy landlords and property managers. Like Buildium though, Yardi Breeze lacks some features that individual landlords in particular will find useful. The per unit pricing structure may endear some landlords though, despite the platform lacking instant chat and automated advertising.

4. Total Management

Total Management is a web-based rental management service that bills itself as “the easiest property management software on the market”. Its simple interface and ease of use make it a good choice for beginning landlords or those who aren’t so tech-savvy, but it is missing a few key features — most notably the ability to add and customize lease addendums.

5. AppFolio

AppFolio is another popular option that also has 9 of the 12 features we’re ranking for here. Again, the platform is missing an easy, instant way to communicate with tenants, as well as lacking lease addendums and automated rental advertising. However, AppFolio does feature an intuitive, easy-to-use layout and contains some of the most important features landlords look for in their rental management apps, with a per unit pricing structure.

Landlord apps for productivity

Productivity apps are often associated with large-scale businesses trying to organize team members’ day-to-day tasks, but landlords can benefit greatly from them as well. With the seemingly endless to-do lists most landlords face on a daily basis, it can seem impossible to stay organized and accomplish everything on-time. Being able to visualize your tasks and collaborate with property managers, maintenance people and others on your team is key for stress-free renting, and these apps can help.

Of course, liv.rent is also a landlord productivity tool as well, with features like user management, income expense statements, rent payment reminders, and more — in addition to many of the features highlighted here. You can learn more about everything liv.rent offers landlords here.

1. Asana

Asana is a favourite of many workplaces across a variety of diverse industries, and for good reason. Though it’s designed more for enterprise than individual users, this productivity tool has a ton of functionality that can help landlords get and stay organized, like a customizable dashboard for visualizing the workday, prioritization tools, time tracking, and even a focus mode for when you really need to get something done.

2. Hive

Hive offers a similarly broad assortment of productivity features designed to simplify landlords’ busy days and make managing rentals easy and efficient. With 9 out of the 10 features we’re examining present here, Hive is another great option for organizing your day. The only feature it lacks is a dedicated focus mode, which probably won’t be a dealbreaker for many.

3. Todoist

Todoist is an excellent choice for individuals, particularly landlords since its simple interface and broad functionality lend themselves well to renting. Easy categorization tools allow landlords to input their personal tasks, work goals, and rental activity to keep track of every facet of day-to-day life. The only things Todoist lacks are a focus mode and time tracking, which shouldn’t be a huge loss for individual landlords.

4. Calendly

Especially for busy landlords managing multiple listings in addition to personal and work-related commitments, Calendly can come in handy to keep track of appointments and obligations. A hub for scheduling and keeping track of important meetings, landlords are able to easily build and visualize their days and weeks, while ensuring they never miss an inspection, key hand-off, or open house.

5. Evernote

Evernote takes note-taking to the next level with scheduling, task management, and more. For landlords looking to remember important things like renter information and rent payment deadlines, this convenient software is an excellent tool.

liv.rent pro-tip: Landlords can make private notes within their listings to remember key details about tenants, their applications, and other relevant information.

Landlord apps for listing & advertising

Of course, every landlord needs a place to list their units in order to capture leads and get their property rented as fast as possible. A large audience of renters is great, but with rental scams and professional tenants at an all-time high across the country, the quality of renters a platform attracts is far more important. Competition for units is steeper than ever, with landlords often receiving hundreds of applications in one day, so a landlord tool that helps easily filter applications, like liv.rent’s Trust Score is another helpful feature of a good listing platform.

The other key concerns landlords should have when choosing where to post their listings are the ease with which they can share their listings, and the marketing options available to them. While one platform is great, having the ability to post your listing on one platform and share it to other sites makes landlords’ lives much easier and ensures you’ll have a large pool of renters to choose from.

1. Zumper

Zumper is among Canada’s better-known listing platforms, with a variety of key features that can help speed up the application process. This popular site does have tenant screening and other tools like digital contracts and rent payments, but lacks some of the more in-depth rental management and productivity features of all-in-one tools like liv.rent.

2. Zillow

Zillow is best known as a real estate marketplace, but it does have support for rental units as well. Like other platforms on this list, Zillow has handy templates for creating appealing listings, including convenient neighbourhood map for all listings. Zillow has a number of convenient features for managing rentals as well, including rent payments and digital contracts, though again, it’s missing key marketing and organizational tools.

3. Kijiji

Kijiji is a popular marketplace site for buying and selling just about everything, from cars, to furniture, and whatever else you can imagine — and of course, it’s also used to post and rent property too. While it does do the minimum that’s required of it, Kijiji lacks more specialized features like rental applications, tenant screening, support for digital payments, and lease agreements.

4. Rentals.ca

Rentals.ca, as its name suggests, is another popular app for landlords to post and rent apartments, houses and condos. It offers a user-friendly layout and basic functionality like inquiries, listing pages, and some organizational tools — though it lacks any sort of rental management features. Despite this, Rentals.ca does allow landlords to post for free, and the site offers lots of ways to customize your listing and make it stand out, including a photo gallery and neighbourhood score.

5. Craigslist

Another popular marketplace site, Craigslist is still many landlords’ first stop when they need to post rental listings due to its pared-down appeal and ease of use. Though it may come out on top in terms of the number of listings available, the site lacks many of the security features landlords should look for in a rental platform, not to mention any sort of capability besides basic listing.

Landlord apps for tenant screening

Tenant screening is an integral part of the rental process, and has the potential to make or break a tenancy based on how diligent you were in filtering out applicants. Troublesome tenants can cause a number of problems to your unit, neighbours, and of course you, yourself, so the best way to eliminate this risk is to screen tenants thoroughly in advance.

The traditional way of doing this is by performing a credit check using one of Canada’s two major credit bureaus, but there also exist a number of tenant screening apps to help simplify this task and make the results easier to understand. Here’s a quick breakdown of some of the top tenant screening software for landlords.

1. SingleKey

SingleKey offers a simple platform that provides detailed reports using Equifax screening. Where SingleKey sets itself apart is in its speed. The site advertises a less than five-minute processing time for checks, which allows landlords to get the answers they’re looking for faster. However, this speed can’t compete with the instant response given by liv.rent through the Trust Score feature, which allows landlords to instantly view necessary renter information the moment they apply to a listing.

In terms of information, SingleKey offers a comprehensive look into tenants’ financial history, combining an overall Tenant Score with a broken down series of metrics that display the most pertinent information for landlords. The platform gives users the ability to pay-as-you-go rather than locking landlords into membership plans, at a rate of $25 per report.

2. Naborly

Naborly is another popular option for screening tenants that also relies on Equifax for the bulk of its information. Similar to liv.rent, Naborly provides landlords with a single score that factors in data like employment history, court records, and credit information. Naborly also makes it easy to get approval for these checks with a built-in application process.

Some landlords may also prefer the flexibility Naborly offers, as there is a flat rate of $25 per check with no additional membership or subscription fees. It’s worth noting though that Naborly is intended to be used solely for tenant screening, and doesn’t offer the additional functionality provided by all-in-one rental platforms like liv.rent. Still, it’s a suitable option for those looking for a straightforward way to obtain important background information on prospective tenants.

3. RentCheck

RentCheck is one of Canada’s first tenant screening services, and offers a fairly standard credit report, with the option to gather even more in-depth information for an additional cost. RentCheck’s reports offer landlords the ability to choose between Canada’s two major credit bureaus, with information like credit utilization, income-to-rent ratio, bankruptcy index, and more. The price is similar to what landlords would expect to pay for a report directly from a credit bureau, and there is also the option to purchase an annual plan for landlords who need to screen tenants more frequently.

4. TVS

TVS is a Canadian tenant screening service that provides basic information on applicants to landlords using reports from either of Canada’s two credit bureaus. Prices vary based on which of the two is opted for, and criminal records are extra. Still, TVS gives a good idea of tenants’ suitability with information like credit utilization, bankruptcy index, and previous addresses.

Landlord apps for contracts & document storage

Lease agreements are one of the most important parts of the rental process, codifying the tenancy and outlining rules to govern the rental period. For many landlords today, paper leases are a thing of the past, as digital contracts offer a more convenient way to send, sign & store leases on the go. The key features here are digital signing and secure storage, both of which help simplify landlords’ business and offer peace of mind knowing that their vital information is protected.

1. DocuSign

DocuSign is Canada’s #1 choice for digital signatures and cloud-based document security, thanks to a full 8 out of 8 features and a handy mobile app. This helpful landlord app ensures that your lease agreements are legally binding, and that you can easily create and keep track of your agreements with features like view receipts, an automated contract history, identity verification, and convenient customizable templates. For landlords, this platform even supports payments so you can arrange to receive rent right through the app.

2. Dropbox (and HelloSign)

Dropbox has long been a major player in secure, cloud-based document storage, but with the addition of HelloSign, a digital contract solution from the same company, landlords can get even more out of the platform. Now, you can create, send, sign and store your contracts and agreements within one platform, with a nearly complete suite of features to support your needs. This one-two punch is still missing support for rent payments though, so landlords will need to look elsewhere for that feature.

3. PandaDoc

Offering a similar array of features, PandaDoc is another option for landlords & property managers looking to create and sign documents on the go. The app still supports eSignatures with secure storage, customizable templates, and identity verification for added protection, but again — it’s limited to document signing, and lacks support for rent payments and other rental management functions.

Other helpful apps for landlords

These apps perform other functions landlords might find useful, and can go a long way to automating simple but time-consuming parts of your rental management operation.

RentZend

Whether you’re looking to purchase a property or are listing your unit for rent for the first time, it’s a good idea to figure out what you’ll need to charge for rent in order to break even and ideally make a profit — especially in the current climate with rising interest rates leading to larger mortgage payments for many homeowners. RentZend is a good option that includes a variety of factors, looking at tax records and estimated rent to give landlords a better picture of how their investment will perform over time.

Pro-tip: For a personalized estimate of how much your property rents for, liv.rent’s rental experts will examine your listing details, neighbourhood and market trends to give you an accurate sense of what to charge. Click below to start your free estimate.

TaskRabbit

Every landlord needs a handyman for the miscellaneous repairs that will inevitably arise for any rental property. If you don’t already have someone available, TaskRabbit is a popular place for landlords, renters, and practically everyone else to find people to help clean, move, repair, and just about anything else you can think of. You can search the platform for workers who are able to assist, and both booking and payments are conveniently processed through the app.

Zolo

Zolo is a popular real estate marketplace with listings across Canada and a variety of other insights. If you’re looking to purchase a property, whether it’s your first or fifth, Zolo is a great place to start your search and get a sense of where prices stand in the neighbourhoods you’re looking in.

Walk Score

Getting to know your neighbourhood is always a good idea before you go to rent out your property. Walkable amenities and transportation options are a big part of what attracts renters, so being able to speak to these things in your listing description can help attract renters. Enter Walk Score — an app designed to rank your property’s location based on how accessible it is by foot, looking at a unique walkability index to give renters a sense of what to expect from their new home.

Pro-tip: All liv.rent listings contain a handy map of the neighbourhood, including walkability to nearby transit options.

CMHC Mortgage Calculators

Mortgage rates are on every landlord’s mind right now as the Bank of Canada’s interest rates increase. If you’re concerned about what your variable-rate mortgage payments will look like, or if you’re thinking about purchasing another property, CMHC’s mortgage calculator app can help add some certainty to your payment rates, frequency and more.

How liv.rent helps landlords

liv.rent combines features from all of the different landlord app categories featured here, giving landlords and property managers a complete solution to your rental needs. This all-in-one platform helps you see more profits by giving you the tools to digitalize and automate your workflow from start to finish. liv.rent features intelligent productivity and management solutions for every step of the process, like the Trust Score – a comprehensive tenant screening metric that provides complete information, including Equifax® credit reports and income & identity verification for faster, more effective screening.

A productivity tool as well, liv.rent gives landlords the ability to save time and perform key rental functions on-the-go with a mobile app, including a full suite of marketing features like multi-platform listing syndication and insights into your listing’s price and performance. All this, in addition to all the features you’d expect from a rental management and listing platform, like automated rent collection, secure cloud-based document storage, digital contracts & addendums, and so much more.

If you’re ready to automate your rental process and make the switch to an easier, all-in-one rental management app solution – explore liv.rent’s affordable pricing plans for landlords and property managers here.

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

Subscribe to receive the latest tenant & landlord tips and get notified about changes in the Canadian rental market.

>> Stay up-to-date on the average rent in Vancouver, Toronto and Montreal: Rent Reports.

The post The 27 best landlord apps for easier renting appeared first on liv.rent blog.

More so now than ever before, property managers in Canada rely on property management software to assist with just about every part of their business. As technology continues to improve, so do the number of functions property managers can perform digitally, and the possibilities for automation have become near endless. No longer do property managers need to spend countless hours manually screening tenants, cross-posting listings, and other administrative and organizational tasks – property management software has enabled them to focus on what really matters: acquiring more leads and scaling their businesses.

With this has come an increased number of options to choose from. Regardless of whether you’re a new property management company or an experienced business looking to migrate your company’s operations to a new platform, picking the best property management software for your business’ needs is paramount. Here, we’ll be covering the top property management software in Canada based on pricing and twelve key criteria – as well as going into detail about what makes liv.rent so effective and easy to use.

How do I manage properties digitally?

With so many digital platforms rising to fill the needs of today’s property managers, how is one to choose? It’s increasingly difficult to find a one-size-fits-all platform, as every company’s needs are different. Analyzing each software’s pricing structure, availability and features is a job in and of itself – one that busy property managers don’t always have time for.

That’s why we’ve taken it upon ourselves to do the research for you. The following ranking will break down some of the most popular, and best property management software options available for Canadian property managers to give you a better idea of which ones your company should explore further. To read about specific platforms, use the table of contents above to navigate this post.

1. liv.rent

Note: PAD Integration is coming soon

In addition to being an all-in-one rental platform, liv.rent has evolved to become a complete property management solution with all the features today’s property managers expect – with affordable plans designed for every stage of your business’ development.

With a complete 12/12 features, liv.rent has solidified itself as the top option for property managers looking to automate their workflow from tenant screening to signing, collecting rent payments, and more. Not only this, the platform prides itself on creating a trusted community of renters through multi-step verification processes, so property managers can easily recognize and communicate with trusted renters.

liv.rent’s wide range of time-saving features include a comprehensive marketing suite including a customized company landing page, a centralized dashboard for easily managing rent payments, documents, and more, and the new & improved Trust Score – an all-encompassing tenant screening tool designed to give landlords and property managers a complete sense of applicants’ rental and financial history. Not only this, but the platform makes a strong case as one of the safest platforms on this list thanks to secure, cloud-based document storage powered by military-grade encryption for added peace of mind.

For landlords & property managers looking to further streamline their rental process, liv.rent’s new Growth plan is here to make renting easier. The Growth plan is effectively an all-in-one property management software package, with all the tools you’ll need to digitize and streamline your rental process from start to finish. This comprehensive plan includes:

• Unlimited lease protection addendums
• 2 Trust Score reports with credit check per month
• Automated rental advertising (2 per month)
• Shared management tools for up to 3 users

…plus everything in our Essentials plan.

2. Buildium

Buildium comes close to having a complete range of features but falls short by lacking Instant Tenant Chat and Automated Rental Advertising. With that being said, this popular property management software offers plenty of great tools for beginning property managers and experienced businesses alike. Some companies may find the platform’s pricing a bit restrictive though – plans start at $50 per month with only partially unlocked features, and scale exponentially depending on the number of listings your business manages. In order to unlock the full range of features shown above, you’ll likely be paying upwards of $460/month.

3. Yardi Breeze

Yardi is a popular property management software company that offers two distinct versions for property managers: Yardi Breeze, a streamlined version designed for landlords & property managers with small to medium portfolios, and Yardi Voyager which is designed for larger companies. We’re looking at the former here, which is a streamlined version with an appealingly simple layout and an impressive number of features. In fact, Yardi Breeze only lacks instant chat, with tenant communication only available via SMS or email. Still, this platform has a lot to offer and the per-unit pricing structure may appeal to some property managers.

4. Total Management

Total Management is a web-based property management platform that bills itself as “the easiest property management software on the market”. The software has 9 out of the 12 features we’re looking at here, and notably also lacks Instant Tenant Chat as well as pre-loaded lease addendums.

5. AppFolio

AppFolio is another popular option that also has 9 of the 12 features we’re ranking for here. Again, the platform is missing an easy, instant way to communicate with tenants, as well as lacking lease addendums and automated rental advertising. However, AppFolio does feature an intuitive, easy-to-use layout and contains some of the most important features property managers look for.

6. Leasey.AI

Leasey.AI provides a powerful suite of AI-driven property management tools designed to simplify operations and enhance decision-making. While it lacks features like Integrated Lease Negotiation or Automated Payment Tracking, the platform excels in areas such as automated showing, scheduling and property listing syndication across major rental marketplaces. Leasey.AI is particularly well-suited for property managers seeking to leverage advanced technology for streamlined processes and data-driven insights. The platform’s core strengths lie in its ability to adapt to the evolving needs of modern property management.

7. Doorloop

Doorloop has a solid 8 out of 12 features and is a popular choice among landlords and property managers thanks to its easy setup and all-in-one approach. The platform also lets users manage different types of property like commercial and student housing without requiring additional fees, which makes it attractive for companies with varied portfolios. Despite this, the platform still lacks features like instant chat, lease addendums, automated advertising, and rental pricing insights within listings.

8. Re-leased

Primarily focused on managing commercial properties, Re-Leased is a cloud-based software solution that features a centralized dashboard that allows for a number of complex functions within one platform. With 8 out of 12 features, Re-Leased is a good option for property managers whose portfolios are heavy on commercial properties, but doesn’t quite hold up to some options that are more focused on managing residential properties, since the platform doesn’t advertise tenant screening, instant chat, automated advertising, or lease addendums.

9. Building Stack

Building Stack is specifically designed for Canadian property managers and has a variety of pricing options with varying access to the platform’s many features, including a free tier that only facilitates digital rent payments. The customizability may appeal to some property managers, as you can opt to only use Building Stack’s marketing or communication features without paying for more, or opt for the ‘Full Stack’ package. Building stack offers a solid 8/12 features, although it is more expensive per month than other options on this list.

10. Property Vista

Designed specifically for Canadian property managers, Property Vista has a wide range of tools geared towards managing residential properties. One of the more tenant-friendly options on our list, Property Vista has a convenient tenant portal with communication through email, SMS or bulletins, but doesn’t have a built-in instant chat. The platform also falls short on marketing without the option to automate your advertising and also lacks specific insights, addendums, and a centralized dashboard.

11. TurboTenant

Technically designed for landlords rather than property managers, TurboTenant is a rental property management solution with a good amount of features to conduct basic marketing, management and organizational functions. While the platform is free for landlords, this is only because tenants bear most of the financial weight of the application process – including for screening, paying rent, and optional insurance. Landlords can opt to pay for additional services like lease agreements, e-signing and additional forms.

12. SingleKey

SingleKey bills itself as purely a tenant screening and credit check solution, so it doesn’t provide the same scope of functions as other platforms on this list. With that being said, what SingleKey does do, it does quite well. Its screening reports are similarly comprehensive to liv.rent’s Trust Score, but with a pay per use rate rather than being included in a monthly plan. Additionally, SingleKey facilitates digital rent payments for landlords and property managers for additional functionality.

What is the best property management software in Canada?

It’s hard to determine a clear-cut winner for the best property management software in Canada, since this largely depends on your business’ individual needs, what you’re looking for in software, and what your budget is. With that being said, it’s easy to see why so many property managers have turned to liv.rent for its easy-to-use platform, mobile app, affordable & flexible pricing plans and the sheer number of functions property managers can perform.

Although other options like Buildium, Total Management and AppFolio come close in terms of the number of features offered, liv.rent differentiates itself with its trusted community of renters, landlords and property managers, combined with its unique Trust Score tool, allows for a safe, convenient rental process that eliminates much of the guesswork property management companies usually face.

How liv.rent helps property managers

By combining a complete range of marketing and management features, liv.rent helps property managers save time and grow their business by digitalizing and automating their workflow from start to finish. This all-in-one platform features intelligent solutions for every step of the way, like the Trust Score – a comprehensive tenant screening metric that provides complete information, including Equifax® credit reports and income & identity verification for faster, more effective screening.

For those looking to grow their business or scale their company’s portfolio, liv.rent also gives property managers access to a full suite of marketing features like customized company websites, multi-platform listing syndication, and insights into your listing’s price and performance. All this, in addition to all the features you’d expect from a property management tool, like automated rent collection, secure cloud-based document storage, digital contracts & addendums, and so much more.

If you’re ready to automate your rental process and make the switch to an easier, all-in-one property management software solution – explore liv.rent’s affordable pricing plans for landlords and property managers here.

FAQ: The best property management software in Canada

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Table of Contents

Why reducing vacancies is important

It goes without saying that a landlord’s first priority should be keeping their rental unit occupied as often as possible. An empty property not only means losing out on revenue, but opens up the unfortunate possibility of further expenses from unnoticed damage, theft, as well as additional taxes on empty homes in B.C. and Vancouver specifically. With tenants occupying a unit, you have someone you can hopefully count on to notice any potential risks like a water leak or fire before the damage gets out of control. While the odds of these events happening are slim even in vacant properties, it’s nice to have the peace of mind that comes with having renters you trust.

It isn’t always that easy, though. From posting your listing, to responding to inquiries, to screening and selecting tenants – finding high-quality renters is a lengthy and involved process. Combine this with a landlord’s already busy schedule and it’s not hard to see why so many rental properties sit empty from month to month. Luckily, there are rental platforms like liv.rent that allow landlords to market their listings and find quality tenants faster – all in one place.

Reasons your rental property is vacant

It’s not hard to see why a vacant rental property is such an important concern for landlords and property managers, but recognizing the exact reason why your unit is empty and remedying the situation is much harder. Whether your vacant unit is the result of inefficient marketing or high turnover due to poor tenant screening, there are countless reasons why renters might not be interested in your unit or leave unexpectedly.

Here, we’ll be breaking down some of the most common reasons why your rental property might be vacant and how liv.rent can help you solve each potential problem.

Problem #1 – Rent is too high

Perhaps the most obvious, yet most common reason for rental vacancies is that the unit is priced too high. It’s all too easy to overestimate the rental value of your unit, which practically ensures that otherwise interested renters pass over your listing in favour of something more within their budget.

liv.rent solution:

It’s important to be aware of how your unit’s rental price compares to similar properties in your area in order to stay competitive. Although you may have a certain number in mind, overvaluing your property can end up costing you more than simply lowering the monthly rent, even by $50 or $100.

Say you’re determined to get $2,000 a month for your unit, but renters don’t seem interested. Lowering the rent to $1,900 a month could help you fill the vacancy right away, and you’ll only be losing out on $1,200 per year of potential rental income, compared to $2,000 for every month your unit sits unoccupied.

To help landlords and property managers analyze and compare their rental prices against similar properties, each listing has its own unique dashboard containing valuable insights to help you refine your price and stay competitive. At a glance, view the average rent in your area, as well as how your listing compares. You’ll also find the number of views and applications your listing has received, another good indicator of how your listing is performing.

Problem #2 – Not reaching enough renters

Sometimes, even though you’re doing everything else right, your listing still isn’t getting the attention it deserves. Whether you’re using a rental platform that doesn’t have enough high-intent renters, or you’re not taking advantage of all of the sharing options at your disposal, the problem may just be that you haven’t found the right audience yet.

liv.rent solution:

The bigger your audience, the better your chances of getting your unit rented faster. Not only does liv.rent give landlords access to a larger pool of verified, high–intent renters, but the platform also allows for easy sharing to Craigslist, Kijiji, Facebook Marketplace, and more in just a few clicks.

From within your listing dashboard, simply click “Share” to export your listing, pre-formatted for your platform of choice. You can also copy and paste a link to your liv.rent listing that you can share on your own channels, or anywhere else you see fit. For a more detailed explanation of liv.rent’s listing syndication feature, check out the video below.

Problem #3 – Tenant screening that doesn’t work

High turnover due to poor quality tenants is another common cause of frequent rental vacancies. Whether a tenant chooses to end their term unexpectedly or you’re forced to evict them for violating the terms of the lease, having to replace renters at a moment’s notice is a situation no landlord or property manager wants to find themselves in.

liv.rent solution:

Being proactive about your tenant screening and ensuring you have a suitably robust process in place is key to avoiding troublesome tenants entirely. The Trust Score by liv.rent makes this easy, fast, and effective. This comprehensive scoring system analyzes and breaks down renters’ key information including Equifax® credit checks, income & employment verification, and more to give you a complete picture of their rental and financial history. This easy-to-understand metric lets you compare applicants with ease and eliminates the guesswork so you can find high-quality renters every time.

Problem #4 – Ineffective listings & marketing

A lot of work goes into creating, posting and sharing the perfect listing, and it can be hard to take the time out of your busy schedule to worry about marketing. If you’re not getting inquiries on your rental property though, it might be time to re-evaluate what information you’re sharing in your listings. There are a number of details that can make your listing more attractive to renters, and including plenty of photos and videos will also help you stand out.

liv.rent solution:

Creating eye-catching listings that generate more renter leads is easy with liv.rent. Pre-filled listing templates let you create the perfect listing ad in less time, and plenty of customizable fields ensure you don’t forget any key details tenants look for. Listings on liv.rent also have room for up to 20 of your most eye-catching photos, as well as Video Tours – including 3D Tours.

As an added step, be sure to verify your listings. Once you complete the verification process by either uploading property ownership documents or receiving & entering a verification code, your listing will appear with a checkmark icon next to it, indicating to renters that they can proceed with confidence.

Problem #5 – Expectations are too high

At the end of the day, there’s no such thing as the perfect renter. If you’re turning down applicants just because they don’t align with your vision of the ideal tenant or have one missing detail on an otherwise flawless rental resume, it might be time to ease your expectations a bit.

This certainly doesn’t mean settling for a renter you’re unsure about. Finding a tenant with a solid rental and financial history is key, but there is such a thing as being too picky when it comes to choosing who you’ll rent to. If an applicant doesn’t have a perfect credit history but has glowing references from all of their past landlords and has provided proof of income, consider asking them for more information and give them a chance to explain – especially if your unit has been vacant for some time.

liv.rent solution:

Using the Trust Score by liv.rent, landlords can go beyond financial information and gain a more complete sense of an applicant’s rental history, allowing you to make better-informed decisions when selecting tenants. Within the Trust Score, you can view employment and income verification documents, court records as well as a full credit check. By looking at renters’ complete information, you won’t miss out on what could be an excellent tenant just because they don’t have a perfect credit score.

How liv.rent fills vacancies faster

With the right rental platform on your side, preventing and filling vacant units doesn’t have to be hard, or even take much time. If you haven’t already, consider making the switch to liv.rent if you’re experiencing any of the problems described above.

Within this all-in-one rental platform, landlords can create attractive listings, share to Craigslist, Kijiji & Facebook Marketplace, screen prospective tenants with the Trust Score, and ultimately send & sign digital contracts and lease addendums. When all’s said and done, the best way to prevent vacancies is to be prepared with a solid plan for finding quality, long-term tenants.

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The post 5 Reasons Your Rental Property Is Still Vacant appeared first on liv.rent blog.

So, what can you do to streamline and improve the effectiveness of your screening strategies? We’re liv.rent, an all-in-one platform that helps landlords simplify their rental process. Today, we’re going to be outlining some ways to make screening tenants more efficient and effective, including the best tools to help you streamline your screening process.

How do I pick the right tenant?

Choosing the right tenant is a huge task for landlords, especially when you only have limited time to get to know them. While there’s always going to be some level of trust involved when choosing a renter, there’s plenty of ways to be sure you’re making a sound decision. The best way to head off any potential problems is to be upfront about what you’re looking for in a renter, and screen tenants thoroughly to ensure they align with your idea of a good tenant.

Here are a few of our top tips for starting your tenant search off on the right foot:

• Create a detailed listing — Trust is a two-way street, and you’re more likely to attract interested, qualified tenants if your post does a good job of advertising exactly what’s on offer and what you’re looking for in a renter.
• Check applicants’ references — Most landlords are already aware of the benefits of a thorough reference check, but it’s worth re-stating here. References are one of the most effective strategies at your disposal to get an objective sense of who your future tenant is as a renter and as a person, so it’s vital for you to make full use of this invaluable resource.
• Perform a background check — It’s not always enough to take renters at their word, landlords generally need to see things like proof of income, a credit check, and a public records scan before they trust someone to rent from them. With liv.rent’s easy-to-understand Trust Score feature, landlords don’t have to look far to get a comprehensive overview of their applicants, but we’ll also be going over some other tools you can use to screen tenants later in this post.
• Know what you can/cannot ask renters — A robust screening process is a key part of your landlord duties, but there are also things you cannot ask for. Any information that infringes on a renter’s human rights such as their age, place of origin, marital status, etc. is off-limits during the screening process, as they’re not relevant to renting. As well, there are some specific rental-related subjects that may be fine in some provinces, but not in others. For example, B.C. landlords are within their rights to request a damage deposit, whereas in Ontario, damage deposits are not allowed.

For more information on choosing the right tenant, check out our complete post on the subject, including more helpful tips, here.

How to properly screen a tenant

Now that we’ve covered the basics of tenant screening, let’s dive deeper into the methods you can use to get a clearer picture of who you’re going to be renting to. Here’s how we break down the tenant screening process:

• Pre-screen tenants — When you first post a listing, you’ll usually receive a ton of messages from renters, the majority of whom are either just putting out feelers, or aren’t qualified.
• Ask for an application— Getting prospective tenants to fill out an application form gives you the chance to collect information you’ll need later. This includes:
  • Personal information
  • Employment information
  • Rental history
  • Financials
  • Permission to verify the above using a screening tool
• Conduct Showings — Once you’ve narrowed down your field of candidates, you can invite remaining renters to attend a showing. Here, you can get a better sense of who your future renters are by asking a variety of questions to gauge their suitability for your rental.
• Use a tenant screening tool — Assuming the renter gave you permission in their application, now is a good time to run a background check using the screening tool of your choice (we’ll go over our top picks later in this article).
• Call references — References provide an invaluable glimpse into your future tenants’ rental history, and it’s important to make the most of your conversations. Being able to get in touch with previous landlords is ideal here, but in the absence of a rental history you can also contact previous employers or personal references to inquire about renters’ character.

What is the best tenant screening tool?

Asking the right questions is hugely important when screening tenants, but even this can only get you so far. At some point, every landlord needs concrete proof that the person they’re going to rent to can verify their finances, is employed, and has a good rental history.

At this point, it’s time to turn to a tenant screening tool. There exist a number of quality options to gather detailed information on tenants, including more traditional credit checks like Equifax and TransUnion, as well as newer solutions that integrate these checks with more extensive background information. We’ll be covering the latter here, as these are the platforms that provide the best reference for landlords.

Here are our top 3 choices for tenant screening tools:

1. liv.rent

With liv.rent, screening tenants is a breeze. Not only can you communicate with renters instantly using the built-in chat feature, but you can easily view vital information about applicants through their Trust Score located in their renter profile. This allows landlords to bypass most of the guesswork inherent in the rental process and immediately start narrowing the field.

As you can see from the chart above, liv.rent provides landlords with the same detailed information as more specialized screening platforms, but condensed into an easy-to-read score that breaks down all of the key information you need to know. This is a huge benefit for landlords looking to filter out unqualified tenants quickly, as they can simply glance at a renter’s Trust Score to get a sense of their viability for a rental.

Individual landlords can choose between a variety of flexible pricing options. With a free Essentials Plan, you can add on a Trust Score report for just $16.99, or you can opt to enroll in liv.rent’s Growth Plan to receive two included Trust Score reports per month.

For renters, this feature also provides greater security as their Equifax info and uploaded ID are only stored until their Trust Score has been generated, at which point this data is securely deleted by the server. This means that landlords have access to the information they need to see, without being able to view confidential documents.

How to unlock the Trust Score

The Trust Score is available even for tenants applying from outside of liv.rent. All landlords need is a verified profile to generate Trust Score reports – no liv.rent listing or tenant application is required.

Follow the steps below to unlock Trust Score reports for tenants applying both from within and outside of the liv.rent platform:

1. For liv.rent renters
   • Create a liv.rent listing
   • Ensure that both your ID and listing are verified
   • Once you receive an application from a renter whose Trust Score report you’d like to view, click “Unlock Trust Score”
   • Redeem a Tenant Screening Report credit or complete payment to unlock the full Trust Score report
2. For tenants outside of liv.rent
   • Sign up for a liv.rent Landlord account
   • Verify your ID
   • Navigate to the “Trust Score” tab on left-hand side of your Landlord Dashboard while logged in
   • Follow the prompts to submit the applicant’s information and complete payment

Note: Landlords generating a trust score on an applicant’s behalf must first obtain their written consent to perform a credit check. You can do this by downloading and completing this Tenant Consent Form.

Does the Trust Score impact the tenant’s credit score?

The Trust Score gathers information from renters’ Equifax® credit reports and will appear as an inquiry on their credit file. This may impact their overall credit score, however the impact will not be significant as the Trust Score is not a credit application and will not appear as a ‘hard’ credit inquiry.

2. SingleKey

SingleKey offers a simple platform that provides detailed reports using Equifax screening. Where SingleKey sets itself apart is in its speed. The site advertises a less than five-minute processing time for checks, which allows landlords to get the answers they’re looking for faster. However, this speed can’t compete with the instant response given by liv.rent through the Trust Score feature, which allows landlords to instantly view necessary renter information the moment they apply to a listing.

In terms of information, SingleKey offers a similarly comprehensive overview to other top options, combining an overall Tenant Score with a broken-down series of metrics that display the most pertinent information for landlords. The platform gives users the ability to pay-as-you-go rather than locking landlords into membership plans, at the same rate of $25 per report.

3. FrontLobby

FrontLobby is unique in that it allows landlords to report tenants’ rent payments to Equifax®, helping to establish renters’ reliability while giving fellow rental managers an additional metric to look at. Additionally, landlords can purchase add-on credit and background checks, at varying prices based on the plan chosen.

For the most part, these checks are standard credit reports, although the rent reporting feature and additional functionality FrontLobby offers make it an intriguing choice for some landlords. With that being said, these features are only available through the platform’s paid plans, which still require landlords to pay add-on fees for credit and background checks.

4. Leasey.AI

Leasey.AI excels in tenant screening by leveraging advanced AI algorithms to provide detailed, data-rich reports that go beyond the basics. The platform’s strength lies in its ability to analyze multiple data points, offering a comprehensive overview of a tenant’s financial and rental history. Unlike other platforms, Leasey.AI’s screening process evaluates credit scores and also predicts potential risks, helping landlords make more informed decisions. Leasey.AI ensures that every report is thorough and tailored to the specific needs of property managers. This robust screening capability makes it a valuable tool for those seeking deeper insights into tenant reliability.

5. RentCheck

RentCheck bills itself as “The Housing Industry’s Credit Bureau”, offering highly-specialized services designed to adapt to the needs of property managers and landlords. Along with the ability to choose whether credit information is sourced from Equifax® or TransUnion®, landlords can also unlock a wide array of optional add-ons, like a bankruptcy predictor, extensive criminal record check, rent-to-income ratio, and more.

One potential issue with this platform, especially for beginning landlords is the comparatively high costs. At $38.00 for a full detailed credit report, RentCheck is the most expensive option on this list, and there are also additional fees and potential membership costs to consider as well. With that being said, its specialized services and breadth of information may appeal to property management businesses in particular.

Frequently Asked Questions

For more insights into the tenant screening process, be sure to subscribe to liv.rent for the latest rental resources.

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One of the most common questions we get from landlords is how they can find quality tenants faster. With liv.rent‘s new Suggested Tenants feature, we make it easy. For each new listing you post, you’ll be shown an automatically generated list of prospective tenants whose search filters align with your listing. This makes generating leads easier as you essentially start off with a pre-made list of potentially interested renters that you can get in touch with. 

So how do you find and contact your curated list of Suggested Tenants? Read on for our step-by-step guide on how to make full use of this new feature.

1. Select your property

Navigate to your Listings tab in the app or web platform and click on the listing you would like to rent out.

2. From the menu, select “Suggested Tenants”

All tenants whose search preferences match your listings will automatically appear in your list. From here, you’ll be able to see a basic profile view of their Renter Resume, which includes their name, job, salary range, and rental budget.

3. Review them carefully

‘Like’ the ones that interest you the most to curate your list of viable tenants. Make note of how complete their profiles are, and also pay attention to see if they have a verified badge next to their name. If their profile includes a badge, that means they have submitted a government issued ID and have verified their profile.

4. Start the conversation

Initiate a ‘chat’ with your curated list of candidates. You can invite them to book a showing,  

Pro Tip: When renters apply to your listing, you will get a full view of their Renter Resume including their Trust Score, which includes information like credit and payment history. Read more about the Trust Score™ and how it helps landlords find and screen tenants here.

5. Tips on how to reach out to your suggested tenants

Typically, tenants get in contact with landlords whose listing they are interesting in renting. With the Suggested Tenants feature though, we’ve made it easy for landlords to initiate contact and be proactive about renting out their listing.

If there’s a suggested tenant with an especially high Trust Score, or who aligns well with your values, don’t hesitate to reach out! Here are a few tips for getting in touch with your Suggested Tenants.

• Ask them if they’re still looking for a place — Similar to renters asking landlords if the suite is still available, landlords can also gauge potential tenants interest. From there, you can ask:
• See if they’d like to book a showing — Since you already know they’re looking for something similar to your listing, why not see if they’d like to book a showing? It’s nice to add that you saw them in your Suggested Tenants and loved their profile. 
• Give them more details on your listing — Since you’re messaging them first, be sure to let them know a bit more about your listing and and how it aligns with what they’re looking for. 

And, just like that, you’ve found and hopefully engaged a selection of tenants looking for a listing just like yours! The Suggested Tenants feature gives landlords quick access to leads who are already interested in what they’re offering — another way we’re making the rental process easier for everyone.. 

Check out our post on Landlord Web Features and learn how easy it is to manage your properties, applications and agreements online, or in the liv.rent app!

Have some feedback for us? Any other features you want to learn more about? Contact us via Live Chat during business hours or email us anytime!

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The post What Are Suggested Tenants? appeared first on liv.rent blog.