Thanks , we just moved to GTA from USA and we are in quarantine (Airbnb). Could you please share how did you go about rental, credit checks etc. (as we are new here and don't have any credit history here - lived in US almost 8 years before this move)
Lets look at it from two perspectives, one is showing of your rental properties and the second is how a landlord views a potential tenant. From my recent experience with showings and new comer profiles below are few things you could do:
1. Get hold of a Real Estate Agent, there are plenty in the GTA. Ask him/her to do a virtual tour of all the rental properties. This is the norm for the past few months, even for sale of properties. Shortlist for potential units to visit post your quarantine, now every showing is based on appointments only, so your Real Estate Agent will take care of these appointments, don't worry. Besides, most showings are free, you just have to be present at the unit at the scheduled time. That's the process for you to find a desired long term rental post quarantine period.
2. Now coming to how the landlords look at your credit history, employment, deposits etc. -
> Some landlords will consider your US credit history, show them your latest report from Equifax or whichever report you get. Some of my clients who came from US, their credit reports were accepted by the landlords
> Now, suppose, you didn't end up in a job immediately, you could substantiate your proof of funds by providing a deposit for more than 2 months. The landlord
cannot ask for more than one term (month/week) of deposit as per REBBA, so you will have to voluntarily provide through your Real Estate Salesperson. This will give some confidence to the landlord, you could also give post dated cheques
(but I generally don't recommend, and this is not required if you have an employment letter), again the landlord is not allowed to ask for these cheques, it is your way to give him that confidence.
Most condo owners are desperate for tenants during the pandemic time now, from my experience (Units I rented earlier have come down by $300-$400), you should have limited resistance from them. So, just start your hunt with a Real Estate Agent. Don't worry too much about the landlord.
If you would like to go ahead with rentals in the GTA (Toronto, Mississauga, Brampton, Markham, Scarborough, Oakville etc.) let me know.