Some essential “Tools” needed before Renting a Property:
Is it better to buy or rent?: “Compare the costs of buying and renting a home” (click to read more)
Know the Legislation: Know your Rights and your Obligations as a Tenant (or Landlord) in these Canadian
Provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest
, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Quebec, Saskatchewan, and Yukon (click on any
of the Province names to read more)
Preparing for Renting a place: “The seven parts in this section will help you prepare to look for rental
accommodations.”(click to read more)
Tenants: Use Common Sense when looking to Rent a Residential Property:
- Don’t deal with “Landlords in distant location” (e.g. unable to meet with you)
- Don’t pay without first seeing the Property in-person
- Do a background check on the Property and on the Landlord; Check Property Title; Check Owner’s Identity; Ask
around: Inquire with the neighbours about the Property and its Owner; last but not least, Google, and then Google
some more!
- Check the local Rental market (specific to the Property); Remember, if a deal looks “too good to be true”, it usually is!
(e.g. rent below market, etc)
- Ensure the Landlord has the correct documents
- Don’t fall victim to upfront fees
- Don’t give cash, or wire money (e.g. via Western Union or MoneyGram), and NEVER pay beforehand
- Don’t give out your credit card information
- Don’t deal with Landlords who are pressuring you to make financial transactions beforehand
Landlords: Use Common Sense when looking to Rent-out a Residential Property:
- Check Tenant Identity
- Check Tenant’s references; make sure they are relevant, and not “phony” (e.g. friends answering phone)
- Meet in Person and Interview the Tenant
- Check Tenant’s Credit (pull a report)
- Get the Tenant to fill in a Rental Application; Ensure your rental application requires the prospective Tenant to list the
previous landlord's phone, the reason for leaving previous place, any bankruptcies or foreclosures.
- Inquire about Tenant's employment status and obtain contact information for the employer
- Ask the Tenant to present most recent few paystubs, and verify income
- Don’t hand over the key(s) before the deposit check clears
- Additionally, you can ask the Tenant for a Canadian Police Clearance certificate (obtainable at local Police stations)
- Don’t fall for the OVERPAYING Scam, where the fake prospective Tenant will send a cheque or money order for
MORE than you have requested, followed by him asking you to deposit the money and return the excess.
If you are also looking to Buy a Real Estate Property “For Sale By Owner”, please check
out our dedicated FSBO websites: www.refsbo.ca and www.allbyowner.com