Apartment renting without credit/income

[thebluetung]

Dear all,

I'm planning to land in Toronto this August and try to find apartment with one-year lease.
I heard that, unlike condo owners, apartments building managed by professionals do accept application without credit and income, but with higher deposit.
Is it true ? is there any other conditions that I should be aware of ?
Anh in general how can newcomers find a long term place ? most of the listings on Kijiji requires credit check + income + reference.

Many thanks to you all.

 

[steaky]

I thought the opposite. Sometimes listings on Kijiji are posted by professional companies too.

 

[Copingwithlife]

Dear all,

I'm planning to land in Toronto this August and try to find apartment with one-year lease.
I heard that, unlike condo owners, apartments building managed by professionals do accept application without credit and income, but with higher deposit.
Is it true ? is there any other conditions that I should be aware of ?
Anh in general how can newcomers find a long term place ? most of the listings on Kijiji requires credit check + income + reference.

Many thanks to you all.

Maybe things have changed because of the pandemic. Last year I rented a one bedroom in Toronto . I required a confirmation of my employment, credit check , two personal references, and I gave six months of rent ahead of time . This was thru a real estate agent who sold my place
I can’t see landlord relaxing any rules due to if someone rents a place and fails to pay the negotiated rent , it’s a long battle to get them out

 

[thebluetung]

Maybe things have changed because of the pandemic. Last year I rented a one bedroom in Toronto . I required a confirmation of my employment, credit check , two personal references, and I gave six months of rent ahead of time . This was thru a real estate agent who sold my place
I can’t see landlord relaxing any rules due to if someone rents a place and fails to pay the negotiated rent , it’s a long battle to get them out

I thought the opposite. Sometimes listings on Kijiji are posted by professional companies too.

Thank you guys.

I did some research on Kijiji and most of the listings posted by individual owner are very straight forward about providing credit check + income + reference. Meanwhile all of the apartment listings posted by building management don't even mention these requirements.
I even sent email to contact some of them to ask if it's possible to rent there without income or credit, and they just replied me with the availability and asked me to contact them for showing.

Anyway I plan to rent a basement apartment or bachelor apartment for around 1500.
How do you thinks a newcomer can rent such place without income or credit for the first few months ?
Really appreciate your help.

 

[steaky]

Sure, if you pay the landlord upfront say 6 months or more (1500 x 6 = 9000+), I think they probably willing to have you as their tenant.

 

[smash1984]

Thank you guys.

I did some research on Kijiji and most of the listings posted by individual owner are very straight forward about providing credit check + income + reference. Meanwhile all of the apartment listings posted by building management don't even mention these requirements.
I even sent email to contact some of them to ask if it's possible to rent there without income or credit, and they just replied me with the availability and asked me to contact them for showing.

Anyway I plan to rent a basement apartment or bachelor apartment for around 1500.
How do you thinks a newcomer can rent such place without income or credit for the first few months ?
Really appreciate your help.

Getting the first place rented is a bit of a problem. I had to bring a guarantor because I didn't have Canadian credit history. Was a bit of a pain. But you can get it if you apply to a ton of places. At least some of them are open to early deposits.

 

[despacito2017]

Many of the corporate owned properties (often known as REITS) have special programs for new immigrants. You will need to call them as they don’t list it on their websites to avoid creating an impression that they have looser leasing standards for immigrants.

They are more likely to accept a bank statement to prove you have funds and forgo multiple months of rent in advance, proof of employment, etc.

Individual landlords are more scared of leasing to people who have no steady source of local income and will sometimes have absurd demands such as 1 year of rent in advance.

 

[canuck78]

Many of the corporate owned properties (often known as REITS) have special programs for new immigrants. You will need to call them as they don’t list it on their websites to avoid creating an impression that they have looser leasing standards for immigrants.

They are more likely to accept a bank statement to prove you have funds and forgo multiple months of rent in advance, proof of employment, etc.

Individual landlords are more scared of leasing to people who have no steady source of local income and will sometimes have absurd demands such as 1 year of rent in advance.

For those who will be googling you can’t just google REITS. These properties will listed by a property manager if it is not the full building or if it is a full building there will be an office you can apply to rent in that property and potentially others under the same REIT.

 

[thebluetung]

Many of the corporate owned properties (often known as REITS) have special programs for new immigrants. You will need to call them as they don’t list it on their websites to avoid creating an impression that they have looser leasing standards for immigrants.

They are more likely to accept a bank statement to prove you have funds and forgo multiple months of rent in advance, proof of employment, etc.

Individual landlords are more scared of leasing to people who have no steady source of local income and will sometimes have absurd demands such as 1 year of rent in advance.

For those who will be googling you can’t just google REITS. These properties will listed by a property manager if it is not the full building or if it is a full building there will be an office you can apply to rent in that property and potentially others under the same REIT.

Learned some new thing. Thank a lot guys !

 

[nb190]

Dear all,

I'm planning to land in Toronto this August and try to find apartment with one-year lease.
I heard that, unlike condo owners, apartments building managed by professionals do accept application without credit and income, but with higher deposit.
Is it true ? is there any other conditions that I should be aware of ?
Anh in general how can newcomers find a long term place ? most of the listings on Kijiji requires credit check + income + reference.

Many thanks to you all.

Working as Realtor for past 6 Years now in toronto and surrounding areas, i can tell you that building management will also ask for credit/employment check if they dont u might not want to live in those buildings..New immigrants are not always aware that since you have no credit or employment in most cases you need to have to pay atleast 6 months upfront which will be applied to last 6 months of your lease, cheapest option would be to move into a furnished basement/or rent basement month to month and then explore your options, moving to a new country and starting from Scratch can be a hectic process as it is.

 

[ArchShiroyi]

Working as Realtor for past 6 Years now in toronto and surrounding areas, i can tell you that building management will also ask for credit/employment check if they dont u might not want to live in those buildings..New immigrants are not always aware that since you have no credit or employment in most cases you need to have to pay atleast 6 months upfront which will be applied to last 6 months of your lease, cheapest option would be to move into a furnished basement/or rent basement month to month and then explore your options, moving to a new country and starting from Scratch can be a hectic process as it is.

Hello

Id like to know if these furnished basements on rent are available within the city side of Toronto?

 

[hydrakanth]

If you are willing to pay advance rent for 6 -12 months and security deposit, it should not be a problem for you to find a rental place.

 

[nikjuneja]

Thats not always the case, sometimes they give you apartments based on your account balances too.

 

[blackmoon2908]

Why don't you use Airbnb to book? Email Kijiji to landlord but often need 6 MONTHS rent upfront.

 

[juxta_rn]

if we are newcomers and they usually offer the options of having guarantors. does guarantors need to live within the same province or lives in another province? tia