The Renting Process Made Simple
Whether you are a seasoned renter or are looking to rent for your first time,ย below is a step-by-step process I put together for my clients ensuring the renting process is made simple:
1. Get Organized
Get organized by answering some questions first. What date do I want/need to move in? How much can I afford to pay monthly, including heat, hydro and internet? Where do I want to live? What must I have in order to live well (i.e. the number of bedrooms, washrooms, and parking spaces, a yard, pet-friendly)?
2. Documents
Be sure to have ready a copy of your credit report (of all those to be named on the lease). This can be found on Equifax or the Transunionย website for under $20. Also, have ready employment documents such as pay stubs and a letter of employment, as well as your last two years of T1 Generals and Notice of Assessments.
3. Search
Your realtor can help you with this part. They can set up a primary search with your criteria in an online platform which you can access and browse the properties available in real-time. They also are connected to a network of other realtors and will 'get wind' of rental properties that will be hitting the market. They also use other social media platforms to search as well.
4. View Property
Arrange with your realtor to book showings and to gather more information on desired properties.
6. Offer
Once you find the place you desire let your Realtor know so they can fill out and submit an offer. Once accepted, another form is required by law to be completed which provides extra protection to the tenant. This form is called the Residential Tenancy Agreement (Standard Form of Lease).
7. Cheques
Be prepared because once your offer is accepted the landlord is going to want first and last rent cheques, as well as post-dated cheques for the entire year.
8. Prepare to Move-In
Not only should you concern yourself with packing and arranging for adequate moving help, but you will also need to arrange heat, hydro, internet, etc. to be ready for your move-in date.
It's that simple! This doesn't need to be a stressful process, but rather a fun and exciting one. For any questions about the renting process made simple, and for all of your other real estate needs, contact me today. Let me help you put down roots in our beautiful community.