Preparing For Your Rental Search
What you will need to secure your next home.
Toronto has one of the most sought after housing markets in Canada— that is why it is important to come prepared when you find your ideal space. Most Toronto rentals come on the market roughly one or two months before they are available for rent. If you are currently renting, keep in mind that you must give your current landlord 60 days’ notice before thinking of vacating.
Whether you’re a seasoned tenant or a first time renter, heres how you can prepare for your home search.
Have Your Deposit Ready
To rent an apartment in Toronto, you’ll need to provide first and last month’s rent. Most landlords require this payment to be made as a certified cheque or bank draft.
Prepare Your References
Any landlord will check your references before agreeing to rent their unit to you. Don’t forget to provide direct numbers for easy reference checking!
Secure a Confirmation of Employment Letter
You’ll need to prove that you’re employed or otherwise financially capable of renting in Toronto. Don’t forget to make copies in case you don’t get the first place you apply for.
Complete a Credit Check
Most landlords will require a credit check in order to offer you tenancy. You can order a credit check online for a small fee or by mail for free.
General Requirements
It’s likely that the landlord will want to see at least two months of paystubs, a letter of employment. In some cases they may want to see your bank statements and the previous year’s income tax return.
Preparation is key when considering to enter Toronto’s competitive rental market. Coming equipped with all that you need to secure your ideal home will help make your rental search a breeze.
Reference
Ultimate Guide: Toronto Rentals [PDF]. (2020, December 7). Toronto: Westhaven Rentals. https://park579630979.files.wordpress.com/2022/06/d3797-ultimate_guide_toronto_rentals.pdf
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