The Perfect Rental package
IN A COMPETITIVE MARKET YOU NEED THE COMPETITIVE EDGE
BUILD THE PERFECT RENTAL PACKAGE
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The rental package is crucial when searching for a home as it helps establish credibility and trust with the landlord, provides valuable information about the tenant's financial situation, and can expedite the application process.
By submitting all the necessary documents upfront, the landlord can quickly review the rental package and make a decision on whether to approve the tenant. This can save time and reduce the stress of waiting for a response from the landlord. It also helps to establish credibility and trust with the landlord.
Submitting a complete and accurate rental package demonstrates that the tenant is responsible, organized, and serious about the rental property. This can increase the chances of being approved for the rental house, especially if there are multiple applicants.
rental package checklist
rental package checklist
-be ready-
-be ready-
Completed rental application form (below)
Copy of government-issued identification (e.g. driver's license, passport)
Credit report ( www.consumer.equifax.ca/personal/ )
Personal references (names and contact information for at least two non-family members)
Professional references (names and contact information for at least two current or former employers)
Letter of Employment from current employer (including job title, length of employment, and salary)
Last three pay stubs to verify income
Proof of rental history (e.g. previous landlord contact information, rental agreements)
First and Last months rent (deposit)
Bank statements to verify financial stability (optional)
This checklist helps landlords or property managers assess a prospective
tenant's financial and personal history to determine if they are a suitable candidate for the rental property.
RENTAL APPLICATION
A completed and accurate application form is crucial for selecting the right tenant for a premium property. It ensures fair evaluation of qualifications, financial stability, and rental history. Accurate information minimizes risks, enhances communication, and helps maintain a harmonious landlord-tenant relationship, fostering a secure and high-quality living environment.
FIRST AND LAST MONTHS RENT
(Deposit)
When you rent a property, you'll provide a deposit called "first and last months' rent." This means you pay an amount equal to two months' rent upfront. This will be in the form of a 'certified check' or 'bank draft' easily obtained from your bank. The first month's portion covers your initial move-in, while the last month's portion acts as a safeguard for the end of your lease. It's like having a buffer to ensure that your final month is paid without hassle. Landlords hold onto this deposit during your tenancy and return it when you leave, minus any necessary deductions for repairs or unpaid rent. It's a way to make renting smoother and give both you and the landlord security.
RENTAL LEASE TERMS
RENTAL LEASE TERMS
In Ontario, when you enter a one-year lease, it means you're committing to renting a property for a whole year. At the end of that year, the lease automatically becomes a month-to-month arrangement. This offers flexibility, allowing you to stay on a monthly basis without renewing the yearly lease. If you decide to move out, you must give your landlord a 60-day notice to vacate. This advance notice ensures a smooth transition for both you and the landlord, giving them time to find new tenants and you time to plan your move. It's a fair rule designed to help both parties.
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