YOUR STEP-BY-STEP GUIDE FOR THE RENTAL APPLICATION PROCESS
Once you’ve found your next rental property, it’s time to fill out a rental application. But if you’re a first-time renter, then the application process can be a bit overwhelming. We make the rental process easy to understand and we will give you all the documents and resource links you need to apply for one of our properties.
Let’s start with the the lease application itself. If you are interested in our property, the next step is to download and fill out our rental application form.
If you have a co-signer or plan on having roommates, they will also need to do the same. Every person planning to move will need to fill out a separate lease application form and provide the supporting documents listed below.
** If you have an issue opening the PDF above please CLICK HERE **
STEP 1
THE APPLICATION PROCESS
It’s best to have all the necessary information easily available for the landlord to review. A great application can help you get approved, especially in a competitive market.
STEP 2
YOUR CREDIT SCORE REPORT
Your credit score report can be a critical factor in determining your eligibility. A credit score generally ranges from 300-850. The higher your number the better.
STEP 3
INCOME VERIFICATION
This can be a job letter, recent paystub, tax returns or any other forms of receipts from an employer or the government. If you have a question read our FAQ or Contact us.
Residential Tenancy Agreement
(Standard Form of Lease)
VALUABLE TIPS FOR A SUCCESSFUL RENTAL APPLICATION
Great Cover Letter
Write a few paragraphs about who you are, what you do for a living and the reason for your move. If you’re applying as a group for a property you intend to share, briefly introduce each roommate.
Strong References
The importance of good references can’t be overstated. Real estate agents, property managers and landlords want to know you’ll be a reliable tenant, that you’ll pay your rent on time and that you’ll treat the property as if it were your own.
Pets
Do you have pets? If you’re renting with pets, mention their training and age. Put it in your cover letter, put it in your application and discuss it when you view the property.
FREQUENTLY ASKED QUESTIONS
How do I improve my credit score?
Your credit score is one of the main pieces of information that landlords use to determine if you’re the right fit for their property. Start evaluating your score early by requesting copies of your credit report. Check this over carefully for any mistakes that might be lowering your score. If you find one, contact the creditor and the credit bureaus to have that error fixed. I can take 30-60 days for the score to update once the issue is resolved.
You can also improve your score by paying off any outstanding bills and credit card debt. Don't close any accounts with a zero balance as they can help provide a longer history for your credit.
What can a landlord ask an applicant?
On a lease application, landlords may request information related to:
- Names of proposed occupants.
- Proof of income.
- Proof of employment.
- Previous and current rental history.
- Banking information.
- Personal contact information (date of birth included)
- Personal references
- Information about any guarantors
- Pets.
What will I be signing?
This form is a residential tenancy agreement (standard lease). Landlords of most private residential rental units must use this form (standard lease) when they enter into a tenancy with a tenant. Until February 28, 2021, a landlord and tenant may use either the old or updated version of the standard lease for their tenancy agreement.
You can view the lease and more information here.
What to put on rental application (landlord) if living with parents or in a home you own.
If you've been living at your parents' house, in a dorm room, or in a home you own, then you do not need to provide landlord contact information. The more thoroughly you can fill out the information, the more helpful it is to the landlord reviewing your application.
What will my new landlord ask my current landlord?
When the new landlord contacts your current landlord, they’ll ask whether or not you paid rent on time and if the property is in good condition. It's important to let your current landlord know your looking for a new place so they can expect a call asking about you.
- Can you confirm that Jane/John Doe rented from you?
- Did Jane/John Doe pay their rent on time?
- Did Jane/John Doe reasonably take care of the rental property?
- Was the unit clean and in good order when Jane/John Doe left?
- Was Jane/John Doe disruptive to other tenants or neighbors?
Who pays for services and utilities?
The lease agreement will help you understand what services are included or not included in the total rent (lawful rent).
Typically you will find a property that is either all inclusive (includes electricity, heat, water) typically found for student housing or rent plus electricity, heat and water.
In some cases, a landlord and tenant can later agree to add other services in exchange for a rent increase. For example, a landlord and tenant may agree to a seasonal rent increase for additional services of air conditioning or a block heater plug-in, so the tenant can heat up their car engine on cold winter days.
Buying or Renting: What’s Better?
What makes more sense, buying or renting a home? Those who take the rental route often wonder if they’re wasting money. Meanwhile, those who buy may wonder whether or not their investment will be worth it in the long run.
What is the price of real estate in your market? It’s important to understand how local factors may affect prices before you decide between buying or renting. Under the right market conditions, buying real estate can be a lucrative move. On the flip side, if there’s uncertainly ahead or if market conditions aren’t in your favour, renting could be a better option until the stars align and the right time to buy rolls around.
What Is a Rent-Back Agreement?
For the buyer, offering a rent back agreement can have a couple of big bonuses. For one, if it’s a competitive market, an offer that’s flexible on move-out dates might very well have an edge. And the rent that the seller would pay the buyer could help recoup those hefty closing costs.
Once everyone agrees, the buyer will close on the house, at which point the buyer will officially take possession and pay any upfront costs like a normal closing. In addition, the seller will become the tenant and pay any security deposits or upfront rent and remain in the house.
READY TO APPLY?
Don't forget that every person planning to apply for the property will need to provide all the application documents.
SEND APPLICATION BY EMAIL
You can attach all your documents with a scanner or cell phone photo and send them to our email.
DROP OFF APPLICATION
You can drop off your application package to any of our 16 offices located across Southern Ontario.
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