Ready, set, RENT: the rental process

Ready, set, RENT: the rental process

Why do I have to have my credit check and letter of employment ready before going to see a rental unit? It’s a question our agents get asked a lot, and the answer is simple: it ensures you’ll go in knowing where you stand (what you’re qualified to rent), and keeps you from losing out on a great place you love because you don’t have all your paperwork ready.

You may have noticed that the rental market is pretty much back to its pre-COVID hotness. And that means there’s stiff competition for nice units (including bidding wars!) Desirable condos are moving fast, and renting with really quick timeframes: if you have to wait for HR to get you a letter of employment, that cute condo with the great view will end up going to the renter with all their documents ready to go.

Here's what you need before viewing properties

  1. A completed rental application (your agent will provide the right one)

  2. An employment letter that lists your position, salary and contact info for your manager/HR dept

  3. Your credit score and report from Equifax or TransUnion

  4. References (optional, but recommended)

Once you’ve got all those docs in hand, you can start your search.

But first, register for a account (if you haven’t already). It will give you access to all the useful information on the site, and connect you with a agent who can help you find a great place.

Read more: 5 things renters need to know

Next, choose your filters (# of bedrooms, neighbourhood, amenities, price, etc.) to narrow your search. Check out 1-bedroom units in King West with a balcony and a gym, 1+1s in Mimico with a pool, or 2-beds in North York over 1,000 sqft. You decide: the site’s robust search feature makes it easy to narrow your search. To make sure you don’t miss the perfect place, you can also set up an alert to get instant notifications of new listings that fit your criteria.

Found a listing that looks good? Go see it, stat! Simply schedule a time with your agent (contact info is on the listing), and they will help you take it from there.

Looking for a rental in downtown Toronto? See what’s out there in your price range.

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