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Mathieu Mazur-Goulet, 26, in the furnace room of his Ottawa home. (Pawel Dwulit/The Globe and Mail)
Mathieu Mazur-Goulet, 26, in the furnace room of his Ottawa home. (Pawel Dwulit/The Globe and Mail)

Real estate

Tips for newbie landlords Add to ...

-Ask for professional and rental references, and call them - in some cases, bad tenants are serial offenders.

-Get first and last month's rent in certified cheques.

-Consider asking prospective tenants for a credit report.

-Keep at least three months worth of mortgage payments and associated costs (utilities, insurance) in the bank to account for periods of vacancy.

-Understand your province's landlord and tenant laws.

-Have your tenant sign a rental agreement with any stipulations you may have (no smoking, no loud noise after a certain hour).

-Consider a rental insurance policy (and encourage your tenant to get insurance too).

-Schedule annual inspections to make sure the property is being well-maintained.





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