The Toronto rental market is hot and competitive! With vacancy rates at an all time low of around 1%, landlords have their pick of who they want to rent to! The best way to secure the apartment you want is to make sure you’re prepared when you find it! Here’s what you’ll need to rent in Toronto:
- First and last month’s rent. This is submitted within 24 hours of your accepted offer to lease in the form of bank order or certified cheque.
- 10 postdated cheques for the remaining months of your 1 year lease term.
- A current Credit report. This can be accessed from Equifax.ca and is best to have once actively looking for an apartment.
- An Employment Letter. You’ll need to prove you’re employed or otherwise financially capable of paying your rent.
- Prepare your references! Landlords will often call your past and present landlords before agreeing to rent to you.
Having all your paperwork ready will help you act quickly when you find a place that fits the bill, in a market this competitive it isn’t wise to ‘sleep on it’as you may miss out! If you’re looking to rent in Toronto and would like to work with a Realtor to help you save time contact us at email@example.com or 416-291-7372.