Don't Lose Your Shirt With Your Rental Property
Posted by Unknown on 1:45 AM with No comments
The tenant you're considering looks like they are going to work out great. He wants to pay his rent in cash, doesn't care about the amenities in the home, and even offers to deliver the rent to you each month so you needn't bother coming by the house. Everything you ever wanted, right? Wrong. All of these things should start warning bells clanging.
Rental units being used for marijuana grow ops in Canada have become an increasing problem. Homes can be damaged irreparably when a grow op is operated inside a rental unit. The simple solution for someone like this is to commit these crimes on someone else's property.
Many growers keep dangerous weapons in the home in order to protect themselves from other criminals. The risk of fire is greatly increased when wiring is tampered with, and hydro meters are bypassed. The humidity in the home goes way up during a grow because of all the water that is required during the operation, and mould is a common result.
In most cases, damage that tenants have caused is not protected by your insurance policy. Your property could be completely destroyed by fire, or could be unliveable due to mould or other modifications made for this illegal activity.
So, how can you make sure that your home isn't going to be destroyed and turned into a grow op by unscrupulous tenants?
Tenants must always be screened thoroughly. Of course the rental agreement must be filled out, but you must be diligent in checking their references so you don't end up devastated financially, so call their former landlords and employers.
Make sure they show you proper identification. Write down their information from the ID. Let them know that you'll be doing monthly exterior inspections. And you reserve the right to do interior inspections with the proper notice. When tenants know that each month you will be showing up to collect the rent cheque, the unscrupulous tenants will probably look elsewhere to rent.
Advise them that you know your neighbours. Tell them that you talk to neighbours frequently. If they know the neighbours will be keeping a lookout on your behalf, it could be enough to scare away tenants with criminal intentions. Arrange to be there on the move-in date. If you do this, you will be able to ascertain if they are truly moving in, and can go over the rental agreement once again with them.
Recognizing red flags
Be wary if:
The tenants want to pay rents in cash. And if they offer you more rent than you're asking for, consider it a warning sign that something may be fishy. A tenant spends more time checking out the electrical panel than looking at the home's other amenities. When a tenant acts this way, they might be thinking about changing the wiring in order to put in 1000 watt bulbs. Be suspicious.
The tenant drives an expensive car, but doesn't have current employment. Once your tenants have moved in, regular exterior inspections may reveal a grow op, hopefully before too much damage is done to your rental property.
These are signs you should look for:
Blocked windows that are covered in bed sheets, heavy curtains, or black plastic and are pushed up close to the windows. More than the usual amount of condensation on windows.
Odours coming from the home, possibly skunk-like or chemical in nature.
Humming noise from fans or other ventilation equipment.
An unusually high number of visitors, and if they always come and go late, it's more suspicious.
Unusual items around the yard like discarded potting soil, wiring, bedding plant pots, or other equipment or debris.
Hydro meters that have been tampered with.
Guard dogs are sometimes a sign of illegal activity.
You could end up having to spend an incredible amount of money to restore the home, and insurance may not cover you, so beware of the signs of this dangerous activity. Protect yourself from devastating losses before they happen.
Rental units being used for marijuana grow ops in Canada have become an increasing problem. Homes can be damaged irreparably when a grow op is operated inside a rental unit. The simple solution for someone like this is to commit these crimes on someone else's property.
Many growers keep dangerous weapons in the home in order to protect themselves from other criminals. The risk of fire is greatly increased when wiring is tampered with, and hydro meters are bypassed. The humidity in the home goes way up during a grow because of all the water that is required during the operation, and mould is a common result.
In most cases, damage that tenants have caused is not protected by your insurance policy. Your property could be completely destroyed by fire, or could be unliveable due to mould or other modifications made for this illegal activity.
So, how can you make sure that your home isn't going to be destroyed and turned into a grow op by unscrupulous tenants?
Tenants must always be screened thoroughly. Of course the rental agreement must be filled out, but you must be diligent in checking their references so you don't end up devastated financially, so call their former landlords and employers.
Make sure they show you proper identification. Write down their information from the ID. Let them know that you'll be doing monthly exterior inspections. And you reserve the right to do interior inspections with the proper notice. When tenants know that each month you will be showing up to collect the rent cheque, the unscrupulous tenants will probably look elsewhere to rent.
Advise them that you know your neighbours. Tell them that you talk to neighbours frequently. If they know the neighbours will be keeping a lookout on your behalf, it could be enough to scare away tenants with criminal intentions. Arrange to be there on the move-in date. If you do this, you will be able to ascertain if they are truly moving in, and can go over the rental agreement once again with them.
Recognizing red flags
Be wary if:
The tenants want to pay rents in cash. And if they offer you more rent than you're asking for, consider it a warning sign that something may be fishy. A tenant spends more time checking out the electrical panel than looking at the home's other amenities. When a tenant acts this way, they might be thinking about changing the wiring in order to put in 1000 watt bulbs. Be suspicious.
The tenant drives an expensive car, but doesn't have current employment. Once your tenants have moved in, regular exterior inspections may reveal a grow op, hopefully before too much damage is done to your rental property.
These are signs you should look for:
Blocked windows that are covered in bed sheets, heavy curtains, or black plastic and are pushed up close to the windows. More than the usual amount of condensation on windows.
Odours coming from the home, possibly skunk-like or chemical in nature.
Humming noise from fans or other ventilation equipment.
An unusually high number of visitors, and if they always come and go late, it's more suspicious.
Unusual items around the yard like discarded potting soil, wiring, bedding plant pots, or other equipment or debris.
Hydro meters that have been tampered with.
Guard dogs are sometimes a sign of illegal activity.
You could end up having to spend an incredible amount of money to restore the home, and insurance may not cover you, so beware of the signs of this dangerous activity. Protect yourself from devastating losses before they happen.
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