What Paperwork Do I Need To Prepare To Rent?

Preparing an offer to lease in Ontario, particularly in a competitive market like Toronto, can feel daunting. Often, multiple tenants are vying for the same property, and it’s not always the highest bidder who secures the lease. To set yourself up for success, it’s crucial to have your supporting documentation ready before you start viewing rental properties. Here’s a checklist of the essential documents you’ll need:

1. Letter of Employment: This letter should be on company letterhead and include your start date, job title, income, and a contact number for your employer to verify these details if needed.
2. Full Credit Score and Report: Obtain your credit report from reputable providers like Equifax or TransUnion. While many banking apps offer a snapshot of your credit score, this is insufficient for rental applications.
3. Government-Issued Photo ID: Provide a driver’s license or passport. Health cards are not acceptable for this purpose.
4. Residential Rental Application: This form outlines your interest in the property and includes personal, professional, and landlord references. The landlord or listing agent will likely contact these references to assess your suitability as a tenant.

Preparing these documents in advance demonstrates your seriousness as a potential tenant and ensures a smoother and faster application process. Being well-prepared can significantly impact a competitive rental market, helping you stand out and secure your desired home.

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