In terms of paperwork, there are four items that are usually needed to move forward with renting the place of your choice:

<ul>
<li>
Rental Application (which may be filled out online)
</li>
<li>
A Full Credit Report (From Equifax or Transunion)
</li>
<li>
Piece of Government ID (Driver’s License, Passport, etc.)
</li>
<li>
Letter of Employment (or a bank statement/proof of income if you're currently a student or not actively employed)
</li>
</ul>Once you settle on the right place and check off the 4 essential documents. We instantly prepare an offer, which you will be able to review and sign off on, fast-tracking you into your new home

Note: A guarantor might be required for students or individuals that are not actively employed. 

For more details regarding all the paperwork, click <a href="https://dwelly.ca/blog/required-documents-actions-for-renting-in-toronto/?gclid=EAIaIQobChMImMf8sNDw6wIVgfGzCh1RCQjZEAAYASAAEgLvg_D_BwE" target="_blank" class="intercom-content-link">here</a>.

What paperwork is required for renting?

A Guide for Tenants

The following link provides a comprehensive overview of all the neighbourhoods in central Toronto: 
<a href="https://dwelly.ca/neighbourhood-guides/" target="_blank" class="intercom-content-link">Toronto Neighbourhoods Guide</a>

What are the neighbourhoods in Downtown Toronto?

The Ontario provincial government introduced a new standard lease that will be mandatory for private residential leases signed on or after April 30, 2018, including tenancies in single and semi-detached houses, apartment buildings, rented condominiums and secondary suites (such as basement apartments).
The standard lease uses easy-to-understand language to help:
<ul>
<li>
Landlords and renters understand their rights and responsibilities 
</li>
<li>
Reduce illegal terms in leases and misunderstandings caused by verbal tenancy agreements 
</li>
<li>
Reduce the need for Landlord and Tenant Board hearings to resolve disputes
</li>
</ul>

What is the Ontario Standard Lease agreement?

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General Questions

Why Timing is Essential in Securing Your Dream Rental

Your dream rental home could be just around the corner. Here's how strategic timing can make all the difference:

1. Aligning with Your Practical Needs: Prioritize listings that coincide with your preferred move-in date to maximize efficiency and minimize disappointment. Finding a property you love, only to realize it's unavailable when you need it, can be a draining experience. By aligning your searches to your timeline, you ensure that you only focus on potential homes that truly fit your requirements. This allows for more strategic decisions that cater specifically to your individual needs.

2. Respecting Realtors' Time and Expertise: Toronto realtors, including our professional agents at Dwelly, dedicate their time and expertise to prioritizing their clients' needs. Requesting viewings that align closely with your move-in date, and taking onboard professional advice, underlines your respect for their commitment. This mutual respect strengthens relationships, expedites the rental process, and guarantees a more streamlined search.

3. Preparing for Immediate Action: In the fast-paced rental market, speed is of the essence. Having all your <a href="https://dwelly.ca/blog/required-documents-actions-for-renting-in-toronto/" target="_blank" class="intercom-content-link">necessary paperwork to rent in Toronto (or the GTA)</a> ready before starting viewings allows you to swiftly act when you find a property you love. Being prepared minimizes delays and prevents you from missing out on fantastic opportunities due to lengthy document preparations.

As you proceed to schedule a viewing, remember to bear in mind these essential pointers:

Being Mindful: Restrict your viewing requests to properties you are genuinely interested in and that align with your moving timeline and notice period. This approach respects all parties' time and ensures a more focused and efficient search.

Heeding Professional Advice: Trust your realtor's expertise. If they advise that your move-in timeline may not match a specific property, they do so in your best interest. Their guidance can lead you to explore alternatives better suited to your timeline, saving you precious time and avoiding potential roadblocks.

Takeaway: Timing and Preparedness are Your Best Allies
In your rental property search, timing and preparedness are crucial. Be sure to align your viewings with your desired move-in date and account for your lease agreement's notice period (usually 60 days). 

Our team at Dwelly is ready to guide you every step of the way, ensuring your path to finding your dream rental home is a rewarding one. 

Happy house hunting!

We unravel the significance of timing when scheduling viewings for rental listings.

Maximize Your Rental Search with Perfect Timing

Most properties become available 60 days or less before the move-in date. Therefore, the best time to begin your home search is 1-2 months before the day you would like to move in.

How long in advance of moving should I start searching for a place?

Once you have found the place you liked and have prepared all the paperwork, it usually takes 1-2 days to submit the offer, get it accepted, and deliver the deposit cheque (First &amp; last month’s rent).  Timeline may be delayed depending on the other party.

How long does it take to secure a place after finding it?

Apartments are located in buildings which consists of only rental units which are managed by the building’s property management company. The property management company lease directly to the tenants and are the main point of contact throughout the lease term. Condos on the other hand are usually privately owned and managed by the landlord and/or their Realtor.

What’s the difference between apartments and condominiums (condos)?

Home Search

In short, it is simply a snapshot of your credit history that the landlord can refer to in order to decide whether or not you would be a suitable tenant. Since your credit score is a real-time assessment of your financial health, it is an indicator of the risk you represent in comparison to other prospective tenants. Therefore, it is vital that you continuously work towards maintaining a high credit score.
  Your credit report may contain the following financial information and more:
<ul>
<li>
Insufficient funds payments, bad cheques, money owing or fraud, bankruptcy.
</li>
<li>
Credit used such as credit cards, retail or store cards, lines of credit and loans, and debts that have been sent to collection agencies.
</li>
<li>
Requests for your credit report in the past three years.
</li>
</ul>Your credit report will also list some facts regarding your credit history such as:
<ul>
<li>
The date your account was opened
</li>
<li>
Your owing amount
</li>
<li>
Whether payments were made on time
</li>
<li>
Missed payments
</li>
<li>
Whether your debt has been transferred to a collection agency
</li>
<li>
Whether you surpassed your credit limit
</li>
<li>
Personal information that is available in public records, such as a bankruptcy
</li>
</ul>Although some banks provide credit scores via online banking, your full credit report must be obtained from<a href="https://www.consumer.equifax.ca/home/en_ca" target="_blank" class="intercom-content-link"> Equifax.ca</a> or<a href="https://www.transunion.ca/" target="_blank" class="intercom-content-link"> Transunion.ca</a>.

What is a Credit Report?

A letter of employment is a reliable form of verification provided by a third party, your employer, often required by landlords as part of the rental application. The letter is meant to state details regarding the tenant’s employment arrangement, such as their date of employment and salary. The letter must be signed by an authorized representative of the tenant’s employer or the employer themselves.

What is a Letter of Employment?

This document is probably one of the most important documents in the entire rental process. Filling this out completely and in detail will allow the landlord to get to know you and understand why you would be a good fit for their home. The rental application requires information regarding your: 
<ul>
<li>
Employment
</li>
<li>
Income
</li>
<li>
Current address
</li>
<li>
References (previous landlords, friends, etc.)
</li>
<li>
Government-issued ID 
</li>
</ul>Depending on the landlord/agent, additional information may be required. This compilation of information gives the landlord a better understanding of the tenant's financial standing and lifestyle. 
Below is a free download of the Ontario Real Estate Association’s Rental Application Form: 
<a href="https://app.hubspot.com/documents/4703646/view/28227038?accessId=dc2ba8" target="_blank" class="intercom-content-link">Rental Appliction</a>

What is a Rental Application?

A post-dated cheque is a standard negotiable cheque that is written by the tenant for a date in the future. Post-dated cheques are commonly written out to the landlord or the property management for the upcoming months of rent. The cheque amount will only be withdrawn on the future date that you have written. 
For example, that your rental period starts on June 3rd, 2018 and you have already paid the first and last months’ rent. You would date the cheques for the upcoming unpaid months of June, July, August, etc... until April 2019 since May 2019 (your last month) has already been paid. Your first post-dated cheque should be dated July 3rd, 2018, which is your second month of rent.

What are Post-Dated Cheques?

If you’ve rented a property before, you should be able to obtain a reference letter from your previous landlord or property management company. The reference letter would outline your ability to sufficiently carry out your rental obligations, such as payment of rent, adherence to tenancy agreement, and upkeep of property.
You can download a sample reference letter here: 
<a href="http://www.hpw.qld.gov.au/SiteCollectionDocuments/Renting/RentalReferenceTemplateDetailedLetter.doc" target="_blank" class="intercom-content-link">Landlord Reference Letter</a>

What is a Landlord Reference Letter?

Also know as a payslip, pay stub, or pay-check stub. It is a document that an employee receives, either as a notice that the direct deposit transaction has gone through or as a physical stub attached to their pay-check, that acts as a paper trail for validating payments.
This helps the landlord further reassure that the applicant is in fact employed and receiving compensation.

What is a pay stub?

A bank statement, or proof of equity, is a record of the balance in your bank account. It is issued periodically via online banking or by mail and can be requested by you at your bank. This information reassures the landlord that you are in possession of the required funds to pay the rent for the property as agreed upon.

What is a bank statement or proof of Equity?

We accept valid government issued photo ID, such as:
– Drivers License
– Passport
– Citizenship Card

What type of documents are accepted as a Photo ID?

If you are unemployed and cannot provide a Letter of Employment, your Proof of Income can be any of the following up-to-date documents: 
<ul>
<li>
 Bank Statements (shows deposits from your income source ideally over 90 days)
</li>
<li>
Investment Income Statement
</li>
<li>
Child Support Agreements
</li>
<li>
Income Assistance (Statement of Assistance)
</li>
<li>
Student Loan Statement / Proof of Deposit
</li>
</ul>

What documents can I use as acceptable proof of income?

Paperwork

The standard deposit required for leases in Toronto is a 2 month deposit which goes towards your first and last month’s rent. The deposit is usually due 24 hours after the offer is accepted.

What is the required deposit for renting?

A renter’s insurance policy ensures protection over you and your possessions. A typical renter’s insurance policy includes liability coverage, protection for your belongings and coverage for additional living expenses, should your rental home become temporarily uninhabitable. Although some situations are uncontrollable, such as a break-in or visitor's injury, your renter’s insurance can minimize the impact of such events. Most landlord and property owners will require you to obtain renter’s insurance and provide proof of possession prior to moving into the property, so that they ensure their unit is protected from damages and liability. 
Coverages range from $15-30/month depending on the property, personal belongings, and the extent of coverage.

What is Renter's Insurance?

A key deposit is usually $50 to $200 held by the landlord as collateral for the keys and access remotes (if applicable), which shall be returned to the tenant at the end of the lease term when all keys are returned back to the landlord.

What is a Key Deposit?

Closing Procedures (Move-in Day)

If you choose to stay at the end of your lease term, your tenancy automatically becomes a periodic month-to-month to tenancy. If you would like to end the tenancy you are required to give notice of termination to the landlord 60 days prior to the end of the term.

What happens at the end of rental lease term?

During Tenancy

When terminating a lease, you must first determine if the lease is a Fixed Term Tenancy or Periodic Term Tenancy. A fixed term means that the lease has a start date and an end date. At the end date, all fixed term leases automatically become periodic month-to-month leases. A Periodic Tenancy is a tenancy that does not have a fixed term and renews every month or week (depending on whether rent was paid monthly or weekly).
If Fixed, both the landlord and tenant have to provide a 60 day notice prior to the end of the term.
If Periodic, both the landlord and tenant have to provide a 28 day notice prior to the day they would like to end the term.

How can a tenant terminate a lease?

The Residential Tenancy Act (RTA) states that a landlord can not increase rent by more than the % provided by the Rent Increase Guideline which is calculated by the Ontario <a href="https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000413" target="_blank" class="intercom-content-link">Consumer Price Index</a> (maximum of 2.5%).  Tenant's must also be given 90 day notice before the rent increase.

How much can a landlord increase rent by?

As a tenant you may sublease your unit with the consent of the landlord and consent cannot be arbitrarily withheld. The subletter becomes bound to the same terms and clauses as the original tenancy agreement and becomes the one that is liable.

Can tenants sublease rental a property?

The Residential Tenancy Act (RTA) states that “a provision in a tenancy agreement prohibiting the presence of animals in or about the residential complex is void,” therefore any clause in the lease agreement that forbids having a pet is considered void. However, if you live in a condominium and the building (or the corporation) has a by law that has certain pet restrictions, then as a tenant you must abide the bylaws of the condo corp.

Are tenants allowed to have a pet in a specific property?

The Residential Tenancies Act (RTA) is a series of laws in the province of Ontario, Canada, that governs landlord and tenant relations in residential rental accommodations. It was created in 2006 to protect tenants and help landlords.

What is the Residential Tenancy Act?

This may vary based on your agreement but typically the landlords are responsible for any repairs that are not caused by negligent actions of the tenant. So if the dishwasher or any other appliance abruptly stops working then you should give your landlord a call and have them fix it.

Advice and answers from the Dwelly Team

General Questions

Home Search

Paperwork

Closing Procedures (Move-in Day)

During Tenancy

Ontario Tenant Rights