Leasing 101

Today’s rental market is competitive and moves fast. To get your application accepted you’ll need to make sure you’re prepared before starting your search. Here’s what you need to know and how we can help.

Before we begin

Landlords are looking for responsible tenants who pay rent on time and treat their home with respect. We need to prove that we are capable of that without ever meeting them. We can do this through a complete and well-organized application.

In order to submit an application you’ll need to provide the following for each adult living in the unit:

• Employment Letter — including salary, job title, and length of employment

• Credit history including credit score — download from Equifax, Transunion, Credit Karma, or Borrowell

• Rental Application — This is a standard form provided by OREA (Ontario Real Estate Association). Click here to download an editable PDF.

• Photo ID – Driver’s license, passport, or other government issued ID

You may also be asked to provide pay stubs to verify your income, depending on the landlord.

Tip: Include a professional photo of you in the application. This isn’t required, but it makes a big difference when a landlord can put a face to an application.

The search

To start your search, fill out our renter questionnaire so we can see your wish-list. We’ll set up a custom email alert which will email you once per day with units that fit your criteria.

Once you start receiving units, tell us which units you like and and we will go check them out. We’ll always give you advice on the locations and buildings and if we think they’re worth seeing.

Don’t be surprised when units you like get leased quickly – it happens all the time. Some units can get rented within a day of being on the market. To secure a great place we'll need to see it fast.

Use a simple rating system as you’re moving through the units to keep track of your top 3. Most people rate units on location, size, and layout..

Tip: Wear shoes that are easy to take on and off when we're out for viewings.

Submitting an application

We found the perfect place! Now what? We’ll review the details of your application – offer price, move-in date, etc., and then we’ll prepare your offer along with all the supporting documents. It can take up to two business days before we hear back from a landlord.

If your offer is accepted, you’ll need to provide a bank draft or certified cheque for first and last month's rent within 24 hours of acceptance. Make sure you’ve got the funds in an accessible account.

Accepted application

Once your offer has been accepted you will usually require the following prior to move-in:

• 10 Post Dated Cheques or e-transfer details

• Tenants Insurance — Usually costs around $30–$40 per month

• Hydro/Utitiliy Confirmation — Most units will require you to set up your own hydro account  (cost will vary but expect to budget $40–$50 per month for a one bedroom). Some units also require additional utilities to be set up.

• Key Deposit — This can range from $100 - $300 and is refunded when the keys are returned on move-out

The tenants insurance and hydro confirmation are usually sent to the landlord about a week prior to move-in

Moving day

You’ll need to reserve an elevator which should be done as quickly as possible after the application is accepted. Hire movers if you need them – we can help with that. We will provide the landlord with the post-dated cheques and they will provide us with the keys. We'll do a brief inspection of the unit with you so we can make sure there aren’t any issues.

If you've got any questions about the process that we haven't answered you can give us a call at 416-726-3274 or email us at nalinksharma@gmail.com