- You’ll want to have a recent employment letter ready, detailing salary earned, type of work you do and how long you’ve been there. If you’re self-employed a Notice of Assessment would be acceptable. Some Landlords ask for a few months’ consecutive pay-stub slips as proof of employment.
- Have an up-to-date credit report. The Landlord will need to know that you are financially prepared to take on the commitment represented by a lease. This is easily obtained and can be done so through www.equifax.ca . Be sure to get the full report with score.
- Personal references. Someone that can vouch for your credibility and knows you on a personal level.
- You’ll need to have the equivalent of the first and last month’s rent available up front as it’s required when an offer to lease is accepted.
- Be prepared to make a decision quickly. The rental market can be as competitive as the buying market, with some properties renting out in the first day they hit the market.
Understand that the time to look for a property will be very close to the time you want to move in, usually about a month in advance. Condos do not typically remain empty, and Landlords are not interested in committing to a lease agreement if the property would remain vacant until then. New inventory becomes available daily, so don’t worry – if the timing isn’t right for a particular place something comparable will come up at the right time.