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Bidding Wars on Leases | KT Confidential EP 141

On this podcast, episode 141, Adrian and Ariel talk about the competitiveness of the rental market. Whether you are thinking about leasing a home, currently in a lease, or thinking about an investment property, this episode is for you!

The reason why there is a bidding war in the leasing market in the GTA is due to the fact there is high demand and low supply. When these houses come onto the market they receive tons of interest and multiple offers because there is a low supply, on top of having a nice aesthetic look at a good price.

It is definitely harder to rent than there is to buy for other external factors. For example, if you lost six or seven leases, you shouldn’t blame it on the rental market. You should look into other factors such as your paperwork, your credit, your job, you, or even your Realtor.

There are multiple things you can do to increase your chances as a Leaser such as: having a Rental application, this is a standard form with Ontario Real Estate Association; Equifax report with a score, this is used to check your Credit Report and Credit Score; get your most recent pay-stub, this is used to show proof of employment as well as to verify proof of income.

All of that and more on KT Confidential – Real Estate Podcast.

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Check out our tips on how to reduce your spending!

Money-Saving Tips Guide
Money-Saving Apps

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Episode Breakdown:

00:00 – Intro
1:20 – Real Estate Agents and Leases
5:52 – Fraudulent Applications
7:34 – “Realtors are as sleazy as Car salesman”
11:19 – Social media’s impact on businesses
13:41 – Bidding wars on leases
18:57 – Canada’s Immigration
23:16 – Ariels advice for Renting
32:33 – Discrimination while Renting
39:56 – Adrien’s advice for Renting
42:59 – Paying upfront
47:12 – Social media’s impact on tenants
50:27 – Something is wrong
51:34 – Pets and Tenants
54:56 – Outro

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Watch the previous episode here:
EP 140

Catch clips and highlights of the show here:
INSTAGRAM

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The founders, Ariel Kormendy and Adrian Trott, started The Kormendy Trott Team, a real estate team based out of Halton region in Ontario, after both being in need of a change from their successful careers in the automotive industry and both experiencing the lack of service being provided in the real estate industry. They kicked off their careers in 2011 and quickly became a top-performing team in the country, ranking 17th of approximately 200 for Century 21 in 2017; as a team of just the two of them compared to much larger teams. They decided that they needed to take their team from being real estate agents in Milton to the rest of the GTA and beyond by expanding and servicing more areas. The team has since grown to have an administrative arm, media department and successful sales team operating a smooth running and successful business. Follow them on social for behind the scenes info, real estate tips, industry secrets and more.

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