What Landlords Need to Know About Changes to PIPEDA

What Landlords Need to Know About Changes to PIPEDA

Sue McConnachie   |     Dec 28, 2018

When leasing commercial property to a tenant, large amounts of information are collected, used and disclosed, which makes sense. As a landlord, it is important for you to know who your tenants are so that you can enter into a relationship with the right business while also ensuring your property is protected.

From a tenant perspective, however, there is an expectation for privacy when it comes to their business and their work space. 

That is where the Personal Information Protection and Electronic Documents Act, better known as PIPEDA, comes in. 

Why Instant Reports are not the Best Solution for Screening ...

Sue McConnachie   |     Nov 23, 2018

A troublesome tenant can be a costly issue. Not only do you incur the loss associated with unpaid rent and the eviction process, but you will also have to invest more time and money in finding a new tenant, repairing damages they may have caused, as well as worry about the effect they had on other tenants and your long-term relationships with them. 

How to Complete a Prospective Tenant Application

Sue McConnachie   |     Oct 31, 2018

Choosing the right tenant is the best way to protect your investment, but when getting to know prospective tenants, there is often hidden information that a standard screening process cannot uncover.

This makes it difficult to ensure you have selected the right leasee at the outset, and that leaves you, your business and your company vulnerable. Decreased cash flow, frequent turnover, rent concessions, lease modifications, default, evictions and costly dispute resolution are just some of the many risks that exist. 

To offset these risks, it is important to consider enhanced screening methods that take a deeper look at your prospective tenants. 

The Current Tenant Base Reveals the Real Value of the Proper...

Sue McConnachie   |     Jul 04, 2018

Investing in commercial real estate can be a profitable venture but, many times, investors acquiring property with an existing tenant base fail to fully assess the current occupants.

It is important to conduct the standard assessments inherent to purchasing a commercial rental property, such as lease terms, hidden rent reduction and operating costs. Understanding the financial details of the tenant base is often forgotten. The tenant’s ability to continue their lease into the future is critical to ensure your investment is profitable. This will allow you to properly evaluate the future income stream. 

Checklist For Effective Due Diligence of Commercial Leases

Sue McConnachie   |     May 08, 2018

Commercial leasing is risky business but ensuring you choose the right tenant, at the outset, can dramatically decrease the risk.

5 Ways Enhanced Tenant Screening Can Help Property Managers

Sue McConnachie   |     Mar 28, 2018

Success in leasing out commercial real estate depends greatly on the companies that you rent your properties to.

While many businesses look good on paper and can satisfactorily answer your questions during the application process, there is often hidden information which could have a negative impact on your business and your property.  

Perhaps your prospect has a bad history of not paying bills on time and is in arrears with creditors or maybe limited cash flow makes them unable to meet obligations. In some cases, they may even be going about business in a way that could damage the reputation of your building, lowering its value and minimizing your future profits.

Reduce Property Management Risks with Tenant Due Diligence

Sue McConnachie   |     Feb 14, 2018

The financial strength of your property management firm, for example cash flow from leases, largely depends on your tenants and the relationships that you build with them. By understanding who your ideal tenant is, and ensuring that you select the best tenants possible, you can reduce risk and improve your company’s bottom line.  

5 Steps to Completing a Prospective Tenant Credit Applicatio...

Sue McConnachie   |     Jan 20, 2018

When having a prospective tenant complete a credit application, it is important that they take the time to complete it in full.

Verifying a potential lessee’s background information can take time. You must contact the bank, wait for bank ratings to process, reach out to references and uncover additional details that could be informative.

Importance Of A Prospective Franchisee Financial Screening R...

Sue McConnachie   |     Dec 12, 2017

Franchising is becoming a big part of Canada’s small business environment. Many entrepreneurs are either buying a franchise or franchising their own ideas or businesses. There are many advantages of being a franchisee, and perhaps the biggest one would be working in a business that already has a recognized brand.

 It is estimated by the Canadian Franchise Association that the Canadian franchise industry generates approximately $68 billion every year, and this industry will keep growing. When deciding to franchise your business, it is important to know that you need to protect your brand at all times. Finding the right franchisee is more difficult than you think, and when picking the right candidate, it is crucial to always think of protecting and developing good will for your brand.

Acquisition Due Diligence on Existing Tenants for Commercial...

Sue McConnachie   |     Dec 01, 2017

Investing in real estate is an excellent way to diversify your portfolio but it can also be very complex.

Acquiring a property already being leased by existing tenants can make it even more complex. To effectively assess risks and the likelihood that your income stream will continue, we recommend our Acquisition Due Diligence Report.