Many newcomers to Canada choose to rent accommodation rather than purchase property upon arrival. Finding a new home can be stressful, so this article will give you the basics of understanding the rental process in Canada.
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How to find your rental
You can search for rentals on your own through various methods online and in person. sites like condominiums.ca, padmapper and zumper It will show you the available accommodations available in different neighborhoods and at what price. You can also hire a real estate or estate agent who will support you in finding a place.
One of the easiest ways to find rental housing is to visit the area in which you would like to live and look for “For Rent” signs on houses or buildings. You can then call the phone number provided or ask the building manager about rental options.
It is important to consider where you want to live. Some factors worth considering in this process are average rental costs in a particular area, public transportation options, commute times, proximity to schools, your job, grocery stores, etc. , parking and crime rates.
Organize essential documents
In order to rent a place in Canada, you will need to provide certain documents to show that you can pay the rent and that you will pay it on time. Owners can request:
- An employment letter with details of your salary.
- a credit report
- References (i.e. from previous owners)
- Bank statements
- ID photocopies
It can be difficult to meet these requirements after moving to Canada. However, there are some options or tips to help you find a rental unit with no credit history or job letter.
Tips for finding a rental
If you have yet to find a job, showing enough funds to cover more than a few months’ rent will likely help your case. This will show his trustworthiness as a tenant. He can talk to his bank, who can provide him with a letter stating that he has the necessary funds to pay the rent.
Another option is to find a guarantor or co-signer. A guarantor or co-signer is someone who agrees to pay the rent on your behalf if you cannot. Being a guarantor or co-signer is legally binding and they are usually family or close friends.
Each province has legal guidelines for rent deposits a tenant must pay before moving out. For example, in Ontario, tenants must pay the first and last month’s rent. If you’re missing important documents like an employment letter, you can offer a few more months’ rent up front, which may incentivize the landlord to accept your rental application instead of someone else. However, landlords cannot ask for this type of money up front and it is entirely up to you to offer it if you are comfortable with it.
It is important to note that landlords cannot ask you for your Social Security Number (SIN). Also, they cannot ask about your ethnicity, religion, marital status, or sexual preferences.
You can also search for individually owned apartment rentals or basements. Apartments that are owned by an individual owner versus a property management company may have a much simpler application process. For apartments located in large rental buildings, the process can be very strict in terms of credit and employment checks. Individual owners can be more flexible when it comes to their situation.
Signing of the lease
The lease is the legal document that describes the terms that you and your landlord have agreed to. It will probably indicate:
- The amount of rent you must pay each month
- How you must pay rent each month (i.e., by check, direct deposit)
- The dates of your lease
- Rental Rules (ie smoking, pets)
- The conditions for terminating or canceling your lease
- Conditions on subletting
- What repairs are your responsibility?
- What happens at the end of your lease
- Since a lease is a legally binding document, you should make sure you fully understand it before you sign it.
Once you’ve signed the lease, you may need to transfer utilities like hydroelectric to your name from the previous tenants or landlord. Finally, upon receiving the keys, you will be able to move into your new home.
Find out if you are eligible for Canadian immigration
reference: www.cicnews.com