The natural beauty of Canada, its free healthcare, and excellent education make it a terrific place to live. Options for lodging and residence in Canada are many and varied. This department includes everything you need, from short-term rentals to a wide variety of homes and flats for rent. Here are the five papers you'll need to get started on your search for the ideal Canadian rental apartment, along with instructions on how to get them.
As part of the application process, landlords may ask for references and papers that demonstrate your financial responsibility and ability to pay the rental. Get organized by following the instructions below, and be sure to prepare everything in advance.
Bank account
You must open a bank account in Canada to rent an apartment. All of Canada's central banks provide special accounts for newcomers. Opening an account is easy if you can supply two forms of identification, such as a passport or a company ID card. If your identity can be validated by a customer in good standing with the bank, you may be able to submit just one piece of identification.
Deposit
Each province and territory has its own regulations governing deposits and fees. Do not pay an additional charge prohibited in your jurisdiction if the landlord asks for it. Tenants who don't follow the most fundamental norms of renting are unlikely to be excellent tenants.
There are two types of cheques: the cheque (check) and the wire transfer. North America is one of the few places where paper cheques are still regularly utilized. A certified check is like a personal check, except that the bank has confirmed sufficient money in the account to pay it.
Credit check
Most landlords need a copy of your credit report, including your credit score and any inquiries. The credit report number reflects how successfully you've handled your financial commitments. Equifax and TransUnion, the two main Canadian credit agencies, only include debt incurred in Canada, such as credit card, mortgage, phone, and vehicle loan obligations. If you're new to Canada and need to establish your creditworthiness, speak with your bank about obtaining a "solvency certificate." In this formal document, your assets outweigh your liabilities.
References
For your references, landlords look for previous landlords' names and contact information. As soon as you arrive in Canada, it's a good idea to start forming connections with individuals who might serve as references. Your boss, coworkers, instructors, immigration attorneys, or even the bank manager who helped you establish your account may all assist you in your endeavor. They'll need to confirm that the landlords you listed as references are, in fact, your former landlords.
Letter of employment
As a part of the application process, you'll be asked to provide proof of employment or another source of income in addition to a credit check and character references. As a student, you may also be required to submit evidence of financial support. Your student visa may be secured using the identical letter sent to Canadian immigration officials.
Rental Contract and Deposit
Your rental agreement will outline the restrictions and expectations you have as a renter. Typical lease terms include the following:
Names, addresses, and phone numbers for both the renter and the landlord.
The length of time you'll be renting the property.
Amount and date of rent payment each month, typically the first of the month.
The rent does not include utility costs (water, heater, electricity, etc.).
The terms under which the rental agreement may be canceled.
The latest statistics on rent rises (when can the landlord increase and by how much)
Amount and terms of the down payment
A rental deposit will be required when signing the lease, refunded after the term is finished. Do your homework before signing your rental agreement since it is a legal document. As an option, you may choose to see a lawyer.
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