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Renewal Tenants

Should you renew your tenant? Can Your Tenant Continue to Satisfy the Obligations of Their Lease?

During the course of a lease, a tenant’s financial situation often changes. As such, making certain that you are aware of what those changes are prior to renewing the lease is important.

Even when a tenant has been reliable to date, the landlord is often unaware of developing financial issues or changes to corporate structure.

What could have changed since the original lease?

  • The full legal corporate name due to an amendment or amalgamation
  • Corporate Provincial status
  • The jurisdiction in which a corporation is registered to do business
  • Default with Companies Branch and Corporate Tax Branch
  • Increased debt (including mortgages, lines of credit, term loans and credit cards)
  • Decreased bank account balances
  • Delinquent activity (late payments, collection claims, legal actions, judgments or bankruptcy)

Approaching your renewals like you would your prospective tenants, with increased due diligence, will protect your investment.

The Quality Credit Reporting Renewal Report will give you the fresh information you need to keep up-to-date on your tenants while also avoiding a potentially uncomfortable situation between the landlord and a longtime tenant.

Our original credit application, completed by the tenant, includes a clause which authorizes Quality Credit Reporting to gather subsequent credit data through the duration of the lease.

PROPERTY MANAGEMENT

Renew Your Tenant Risk Report

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REPORT FEATURES

  • Corporation Profiles
  • Personal Property PPSA
  • Bank Ratings
  • Trade References
  • Bankrupcy Searches
  • Commercial Credit File
  • Consumer Credit File
  • Collection Claims
  • Legal Judgments & Actions
  • Legal Collections
  • Historical Information

Request a sample report.

Request a Sample Report

To learn more about our comprehensive credit reporting products, get in touch with us and request a sample report. Sample reports are available for commercial and individual assessments, property management, franchisors, legal & debt recovery, OEM dealer development, and human resources.
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