Renting in Toronto

[slaw]

My son is moving from Calgary to Toronto for his first job after university. He is going to work downtown and since this is his first job so he does not has lots of credit history. How difficult it is for him to rent a place (apt or basement suite) ? Any suggestions? Thanks for the advice in advance

 

[REInvestors888]

I think it would be difficult on his own. A co-signor with good income level and credit score would be a plus factor for him not to mention 2mos cash deposits on the spot and employer's certificate showing his full-time position and salary. Just my 50cents.

 

[Alvaro Sanchez]

That should not be an issue, provided that he can proof job offer or letter of employment.

 

[Erin]

Like most places, you have landlords that will be happy with a letter of employment and some references. You also have the landlords that will want an added guarantor with good credit score (and/or letter of employment). He is best to put together a small package with a filled in OREA rental application form (which can be easily found online) for both him and a guarantor with his letter of employment and guarantor's credit score. He can bring this package in paper-form to showings or have it scanned in ready to send by e-mail when viewing properties so when he sees a place he is keen on, he can jump on it. He will also need to be prepared to pay first and last month's rent very quickly.

This will assist him securing a new home quickly. Of course, the hard-part is finding a moderately-priced place that is nice.