Better to spend a little money (or get your prospective tenant to do so)
Many would be insulted, of course, but its not such a big deal.
You can ask a tenant to provide a 'clearance letter' from police that states you have no criminal convictions.
Cost is something around $26.00 I believe.
As I recall, they have go to Police HQ in person and with 2 pieces of ID etc, sign a form, blah blah.
The link is here:
http://www.torontopolice.on.ca/recordsmanagement/clearance.php
For Credit checks, same sorta deal.
Go with a legit Credit Rating Agency and fork over the dough, its not that prohibitive.
You don't do checks on 20 people, only the people you are ready to say 'Yes' to.
Hopefully, no more than 2 checks would be necessary.
Equifax (Credit Rating Agency can be found here)
http://www.equifax.com/home/
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As someone else said above: The following (and preceding) is not legal or professional advice, and no warranty is made to its accuracy! (LOL....terrible way lawyers make us type these days)
My suggestions on what you should be looking for:
1) You must set out a lease agreement. No agreement in writing is your word against theirs! (needless to say this starts with lease term and rent amount)
2) Such agreement must be consistent with the laws of Ontario. (ie, you can't provide for less notice of eviction or non-renewal that the law mandates, only more)
3) Any agreement should clearly lay out what is and what is not tenant space. (don't leave it up to common sense!)
4) Exact Date of tenancy, rent due, etc. should be clearly stated. (otherwise you run into I moved in on the 7th, I shouldn't have to pay rent for that week.....)
5) Spell out any terms of entry you as the landlord need. The law allows you access for emergencies and under certain other circumstances subject to notice. If you need additional access, you have to spell that out.
6) Any preconditions should be spelled out. (many requirements, including no pets are no longer allowed, as I understand it, but some restrictions are allowed, if you spell them out, for instance, no Window AC, or something like that)
7) Absolutely document the condition of the place with photos, and in writing, signed and witnessed by the tenant on or before their move in date.
You can't ask to keep the security deposit unless you prove they did damage that wasn't there prior to renting.
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In general, I would get any tenant to agree to more, rather than less, but make sure you don't over-restrict yourself in the process.
All of that said, try not to create too many hassles or over-price yourself in the market or you won't have many prospective tenants to choose from.
Its really better, if you can, to pay for professional advice from a lawyer and/or a Real Estate Broker.
Also keep in mind.....Any Apartment you rent MUST BE LEGAL. This is crucial, because you can get in so much hooey if your place isn't legal. Oh and good luck collecting rent owning, since the courts don't generally enforce illegal contracts. (this is the old problem of you can't sue the other robber if they steal your share of the bank job!)