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    • Home
    • Buyer's Guides
      • Condo Guide
      • Home Guide
    • Tips for Tenants
    • Credit Score FAQ
    • Book a Consultation
    • Salary to Savings
  • Home
  • Buyer's Guides
    • Condo Guide
    • Home Guide
  • Tips for Tenants
  • Credit Score FAQ
  • Book a Consultation
  • Salary to Savings

Thinking about renting a place?

It doesn't have to be complicated.

Get your documents in order, narrow down the "must-haves" for your place and buy some Bankers Boxes.  Find a list of the necessary documents you need and samples of each document below. 

TENANT DOCUMENTS

JOB LETTER

If you don't have an original job letter with your employer's signature, request one as soon as possible. Depending on your place of work, it may take some time to acquire a letter. Get ahead of the rental process by preparing your documents by requesting letters or references as needed. 


Sample Job Letter

PAYSTUBS/NOA

Ensure you have (at a minimum ) your last two pay stubs on file. If you're self-employed, you will need to provide a Notice of Assessment (NOA) which will indicate your business number and address. You will need your NOA for the previous year as well as two recent invoices you have issued.


Sample Pay Stub


Sample Notice of Assessment


Sample Business License

CREDIT DOCS

A full credit score and report will be requested by the Landlord. You can obtain your credit score by paying a one-time fee through Equifax or through Transunion. You can also pull your credit report for free through services such as Credit Karma.


Sample Credit Report


Sample Credit Score

Frequently Asked Questions

What is a triple-A tenant?

AAA Tenant: A candidate with a full-time job, consistent income, credit score over 700 and two professional references or previous landlords that will vouch for their character and cleanliness.

My credit score is low / I don't have a credit score at all. What do I do?

Any credit score lower than 660 is considered low. To compensate for a lack of credit score, you should be willing to pay a few month's rent in advance in addition to the first and last deposit to  secure your lease.

I have pets. Will I still be able to find a place?

Technically, the government of Ontario has made it illegal for Landlords to reject potential Tenants that have pets. Despite this, many Landlords indicate that they do not want pets on their property either due to concerns of damage or allergies. 


In the event that you find a Landlord who is willing to accept you as a Tenant with your pet(s), they may ask for an additional refundable security deposit.

I'm a student / I'm looking for a job. Can I use a Guarantor?

Having a Guarantor could increase your chances of being approved by a Landlord however, it's not necessary that this will always be the case. Be forewarned that many Landlords would  rather choose a Tenant that is self-sufficient rather than a Tenant that is  relying on their Guarantor to compensate for their lack of income or credit score.

I'm a AAA Tenant the person residing with me isn't. Can I put the lease under my name only?

You have to disclose whoever is residing with you regardless of their income and credit score. If you choose not to put their name on the lease, it will raise concerns as to why they're not willing to be listed. If you do not disclose anyone that is residing on the premise, your Landlord can evict everyone. 

Can I sublet the basement or a portion of the premises once I move in?

This could be used as grounds for eviction if your Landlord does not approve. If you are looking for a roommate to bear the cost of  rent, it is best to do so before searching for a place.

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