Information for Renters
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Important information and documentation for renters that is required when an offer to lease is submitted:
Given the high demand, once available on the market, most suites usually get leased fairly quickly and it’s most important to have the following documentation prepared and in place:
The following documentation outlined below is required (with certain exceptions existing for Non-Canadian Residents) prior to putting together any offers for all persons on the lease agreement including acting Guarantors.
- Rental Application: A Rental Application must be filled out by all applicants and submitted with all supporting documentation. Please download a Rental Application here.
- Rental Terms: Usually 1 year minimum unless otherwise specified.
- Current Credit Report: An up-to-date Credit Report with Score including all pages attached is required. Full Credit Reports with Score can be obtained online through Equifax (www.equifax.ca) or Trans Union (www.transunion.ca) with a valid credit card and printed off within 5 minutes of answering a few personal and confidential questions. Credit Reports should be obtained no more than 45 days before the time of any application. You will require the Credit Report that includes your Credit Score. If you are having any troubles you can always contact them via their 1-800 phone numbers provided on either website.
- Current Employment Letter: An up-to-date Employment Letter stating your current position, length of employment and monthly or yearly salary. If the employment is new, we require your Job Acceptance Letter or Signed Offer Letter from the new employer.
- Recent Pay Stub: Your last 2 most recent Pay Stubs supporting your current employment. This is not applicable if you have not yet started your new job / position.
- Reference Letters: This can be your current landlord and/or co-worker confirming good character and financial responsibility. A non-family member is most preferable.
- Photo Identification & Social Insurance Number: 1 Piece of Government issued Photo Identification and a Social Insurance Number (S.I.N) is required with all applications. Valid Drivers Licence, Passport or Ontario Photo ID Card are all acceptable.
- Rental Deposit: The first and last month’s rent is required with an offer to lease. This should be provided by way of a certified cheque or bank draft to be issued within 24 hours upon acceptance of an offer.
- Other Possible Deposits: Additional deposits are sometimes requested by the landlord for keys, key fobs and garage door openers which are refundable at the end of the lease upon there return. In the case of lost items the deposit will be used to replace the item(s) and shall not be refunded.
- Tenant Liability Insurance: Is a mandatory requirement for all leases and can be obtained through your bank or any insurance company of your choice. Tenants Liability Insurance must be obtained and effective on the date of occupancy. This can be obtained from your bank or car insurance provider which is approximately $200+ for the year. No keys or access will be provided to any Tenant without proof of Tenant Liability Insurance Binder & Policy.
- Other Possible Costs Associated With The Rental: Many condominium buildings do not include utilities such as hydro electricity therefore you may need to pay for your own hydro electricity bill. Hydro accounts can be easily setup by phone or email and is extra at approximately *$50+ per month (*based on a single occupant and depending on your electricity usage).
Please contact me for details regarding short term or long term fully furnished corporate executive rental suites.
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