Ask a Realtor

Thinking of leasing for a year while our new home is built what do we need to know?

As a Tenant review your rights on the Stjo.gov.on.ca/ltb website there is a section divided for Tenants and Landlords.

A Landlord has a set criteria of requests they will likely make or their REALTOR or Property Manager will make these requests on their behalf.  They will ask for a rental application to be completed, a full credit report for each adult on the lease agreement or living in the home, they will ask for pay stubs, letters of employment, letters of reference as well and there will also so be the lease agreement(s) including many additional clauses to be included and agreed upon between the parties.
An overwhelming amount of paperwork is exchanged which covers all topics related to living in the home.  First and last months rent will be requested upon acceptance and Landlords will select the Tenant after reviewing the facts collected.
This due diligence is not excessive at all it’s the best practices they can take to additionally protect their real estate investment property.
Set an appointment with a real estate professional who is fully aware of the many new changes that came into effect since April of 2018 and if going direct read the website resources to be sure you are an educated Tenant and are well aware of your rights while leasing.

Written by Connie Power.

Connie Power is a Real EstateCNE® SRS® ABR® SRES® Sales Representative, Assistant Manager  and New Agent Mentor and Career Development for RE/MAX Hallmark York Group Realty Ltd.,  Brokerage serving York region and beyond.  EmPOWERing YOU in Real ESTATE!

**Not intended to solicit those currently under a real estate contract