THE ANATOMY OF A LEASE FOR TENANTS
You’ve made the decision to rent, but now to find a place. Here is what you’re likely to experience and some steps you should take prior to signing a lease.
STEP 1: GET ALL REQUIRED LEASE DOCUMENTS IN ORDER
In addition to a rental application, landlords will typically ask for:
- Letter of employment
- T4 slips
- Recent pay stubs
- Credit score
STEP 2: TOUR PROPERTIES
Get a feel for communities that you would like to live in. Ask questions such as what utilities are included in the lease price? Who is responsible for minor repairs? Is cable or internet included? Are pets allowed?
STEP 3: SUBMIT AN OFFER AND START NEGOTIATIONS
We will draft and negotiate the lease terms on your behalf. Signing a lease agreement is considered a legally binding contract. We will explain the agreement, make you aware of the terms and ensure your rights are protected.
STEP 4: PRE-DELIVERY INSPECTION
Prior to occupancy, a walk-through will be arranged to inspect the property with the landlord or the landlord’s representative. Any damage or deficiencies should be noted that way you are protected.
STEP 5: CLOSING DAY
Be prepared to have confirmation of tenant’s liability insurance and utilities transferred in your name prior to closing. You will then give the landlord the remaining month’s rent and/or any other fees before getting the keys.
After moving in, our relationship doesn’t end there. We will always be at your side if you have any further real estate questions or needs!