Leasing Process Step-by-Step (Tenant)


A) At Time of Submitting an Offer We Need to Provide the Following Docs as a Package, and Cannot Send the Offer Package Until ALL Documents are Present (minimum requirements):

  1. Job letter (or Income Tax Return for self employed), combined income must be $50,000
  2. Credit report with score (no older than 6 months) must be 700+, otherwise due to extremely high competition chances will be low
  3. Paystubs must 3 FULL MONTHS
  4. Lease Application
  5. Lease Offer (I will prepare it for e-sign, when you’re ready to submit an offer)

**Please follow this checklist for your convenience: Click Here for Checklist**

 

  • THE LISTING AGENT WILL USUALLY RESPOND WITHING 24HRS, HOWEVER IT COULD BE DELAYED IF THEY ARE BUSY OR FOREIGN INVESTORS.
  • REJECTION OF OFFERS IS A COMMON OCCURRENCE IN THIS VERY INTENSE AND HEATED MARKET, SO NO NEED TO STRESS, IF I HAVE TAKEN YOU ON, I WILL HELP YOU ALL THE WAY.
  • CASH JOBS WILL NOT SUFFICE

 

B) Once The Offer is Accepted, We Need to Provide the Following within 24 Hours:

  • First and last month’s deposit in the form of bank draft in the name of the brokerage (found on the 1st pg of the lease agreement), within 24hrs of acceptance. 
  • Deliver the bank draft to the brokerage, or wire transfer to the brokerage, I’ll send you deposit instructions .

 

C) After the Draft is Delivered:

  • In case of a condo you will need to complete tenant registration by contacting the property management yourself, I’ll provide you the instructions and contact.
  • At the same time you will need to book the elevator (if applicable) for moving and
  • Provide a damage deposit / security cheque to the property management, refundable immediately after the move,
  • Sundays are not allowed.
  • BOOK EARLY BEFORE ALL TIME SLOTS ARE GONE!
  • You will need to arrange the following prior to key exchange:
    • Key deposit in the name of the landlord, found on top of the 1st pg of lease agreement.
    • Post-dated rent cheques in the name of the landlord (12 months minus the # of months of deposit)
    • Proof of utility account name change
    • Tenant insurance

 

D) At the Time of Key Exchange (Closing/Move-In Date) We Must Provide Proof of the the Following:

  1. Tenant Insurance
  2. Utility account name changes
  3. Key deposit cheque
  4. Post-dated rent cheques

 

E) Enjoy Your New Home!!!

WHAT DOCUMENTATION WILL YOU REQUIRE?

Please Click on the Relevant Tile Below: