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Renting in Toronto

  • 25-09-2018 10:06pm
    #1
    UnitedIrishman
    Registered Users, Registered Users 2 Posts: 5,369 ✭✭✭


    So a relative of mine has just recently moved to Toronto but are finding it impossible to get somewhere to live.

    Basically they have a decent amount of money saved up from working here and were looking to rent an apartment, get setup and then get a job. However, every real estate company is looking for a Candian Credit history and Canadian Job proof.. so nobody will rent to them.

    Has anyone any ideas on this? Is there any way around it?

    They're going for the experience and have decent job backgrounds here in Ireland, and they're willing to pretty much work at anything. But they wanted to get settled into a place before they had to go looking for jobs.


Comments

  • #2
    circular flexing
    Registered Users, Registered Users 2 Posts: 2,593 ✭✭✭circular flexing


    UnitedIrishman wrote: »
    So a relative of mine has just recently moved to Toronto but are finding it impossible to get somewhere to live.

    Basically they have a decent amount of money saved up from working here and were looking to rent an apartment, get setup and then get a job. However, every real estate company is looking for a Candian Credit history and Canadian Job proof.. so nobody will rent to them.

    Has anyone any ideas on this? Is there any way around it?

    They're going for the experience and have decent job backgrounds here in Ireland, and they're willing to pretty much work at anything. But they wanted to get settled into a place before they had to go looking for jobs.


    For first time rentals, I would avoid using a realtor as they will do everything by the book (including credit checks). Better off looking on Craigslist/Kijiji and trying to find a private landlord. Another idea might be to look for a sublet or room share just to get started.


  • #3
    Doylers
    Registered Users, Registered Users 2 Posts: 1,704 ✭✭✭Doylers


    UnitedIrishman wrote: »
    So a relative of mine has just recently moved to Toronto but are finding it impossible to get somewhere to live.

    Basically they have a decent amount of money saved up from working here and were looking to rent an apartment, get setup and then get a job. However, every real estate company is looking for a Candian Credit history and Canadian Job proof.. so nobody will rent to them.

    Has anyone any ideas on this? Is there any way around it?

    They're going for the experience and have decent job backgrounds here in Ireland, and they're willing to pretty much work at anything. But they wanted to get settled into a place before they had to go looking for jobs.
    It's savage craic to get setup here isn't it. Theres a number of things that can be done to try help the situation in the short to medium term:
    1. If you're in Canada too, get them an authorised credit card on you're account and get them to open at least another two themself's to get a credit report going, more cards the better in the long term.
    2. Have all the cheques ready, offer to pay 3 months upfront with the final 9 postdated and handed over before move in.
    3. An Irish report can help in some instances and its worth having to hand.
    It not some much the realtors that are sticky on the reports its the landlords, I personally lucked out and got a brand new condo with no history so........ I dunno! Having a job with a decent salary helped substantially. 
    Happy to provide the name of my realtor she's sound as a pound and actually negotiated my condo rent down lol


  • #4
    UnitedIrishman
    Registered Users, Registered Users 2 Posts: 5,369 ✭✭✭UnitedIrishman


    Doylers wrote: »
    It's savage craic to get setup here isn't it. Theres a number of things that can be done to try help the situation in the short to medium term:
    1. If you're in Canada too, get them an authorised credit card on you're account and get them to open at least another two themself's to get a credit report going, more cards the better in the long term.
    2. Have all the cheques ready, offer to pay 3 months upfront with the final 9 postdated and handed over before move in.
    3. An Irish report can help in some instances and its worth having to hand.
    It not some much the realtors that are sticky on the reports its the landlords, I personally lucked out and got a brand new condo with no history so........ I dunno! Having a job with a decent salary helped substantially. 
    Happy to provide the name of my realtor she's sound as a pound and actually negotiated my condo rent down lol

    Thanks for all the info. I'm not in Canada myself but have a few friends that were in Calgary and they didn't have the same issue. I'll get onto them about having an Irish credit report and had read that offering a bit more advance rent would help.

    Yeah if you could PM me on the realtors details that would be great! And did th<e realtor help find a place for you that didn't need the background checks? Thanks!


  • #5
    jme2010
    Registered Users, Registered Users 2 Posts: 974 ✭✭✭jme2010


    Here's a check list of documents they should have scans or pictures of using their phones.

    (at a minimum)
    Passport
    Visa Page
    Bank statement showing funds (Best if it's in their Canadian account)
    Reference from previous landlord (best if it's on headed paper from likes of REMAX etc)

    (for best chances include these)
    Letter of employment
    Credit bureau letter from Ireland
    Personal statement (who you are and how awesome of a tenant you are)
    Professional reference (get previous employer to write a glowing review)

    So after gathering all that, if you're using a realtor like we did, you'll fill out a rental application once and they will change it for you each time you make an offer on a place.

    Most Important: if you make an offer on an apartment using a realtor, you have 24 hours to provide a bank draft for the complete amount of your offer. So at a minimum @ $1750 rent would need First+Last draft for $3500.

    If you made a 2-3 month upfront offer of First+Last + 2 Months you'd need $7,000 ready to go in less than 24hrs notice.

    Side notes are once your offer is accepted and signed they cannot demand for more than First+Last. They also cannot demand rent be paid in post-dated checks. They can suggest all these things to help with the offers but know your rights.

    You can of course offer all these things to help with your offer but what we found works best is offer $50-100 dollars more per month rather than loads upfront.

    All the best. Feel free to pm me with your friends details...I can refer them to my realtor if they are genuine applicants, but they have to have their **** together for real if they want a swanky place downtown


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