CHAPTER 5: MAKING AN OFFER TO RENT

One of the most important things to successfully making an offer to rent is being prepared to move fast when you find your ideal home.

• Have your deposit ready. In most cases, landlords will require first and last month’s rent upfront. You should have sufficient funds to cover this expense when you submit your offer to rent. You should also be prepared to provide a certified cheque or a bank draft, as some landlords will require certified funds.
• Prepare your references. Landlords will check your references before agreeing to rent their unit to you, in most cases. You should be prepared to provide the names and contact information of at least two references. Ensure you ask your referees for permission before disclosing their information.
• Get a Confirmation of Employment letter. Ask your employer to provide you with a letter that states your job title, compensation (e.g. salary), your employment status (e.g. full time), and how long you have held your current role/have been with the company. The Confirmation of Employment letter is very important as it proves to the landlord that you are a financially stable person who can afford to make timely rent payments.

TIP! Ensure you take photocopies of the letter. Should your application to rent not be successful, you can use the letter for subsequent applications.

• Obtain a copy of your credit report. Most landlords will request a copy of your credit report. Contact Equifax or TransUnion to obtain a copy of your report. You can purchase one directly from Equifax or TransUnion online, or obtain a free copy of your report by mail (although this takes a longer amount of time).