Renting a Home: What Landlords Need to Know!

In residential leases, first thing to note is, lease period is normally one year, there after it could be on month to month basis or as agreed in first place. Its applicable for both homes and condos.

Leasing a property is the right term and widely used when it comes to  renting for a longer period of time.
Both these terms are used in conjunction with some difference.

When we talk about leasing, there is lots of paper work involved.

Leasing a home or a condo can be sometimes painful and daunting task, because the documents needed by the landlords. Landlords always look for quality tenants.

It is a great idea to have a Realtor on your side unless you are dealing directly with the owner of the house.

If the owner knows you very well and is willing to work with you, it’s a great thing. Many of the documents mentioned as under might not be needed. It’s simply, because he knows your you and your work profile.

“Lease to rent means, an agreement between tenant and owner for a specific time, mostly it is for at least one-year minimum or as agreed”

Landlords always start with qualifying applicants by asking information on credit and salary. 

Experienced owners always look for AAA clients. It means, someone having a good salary, fewer debts, and a good credit report.

“Those who are looking for a place to rent or lease, mostly ask why so much paperwork is needed for renting! It’s because the owners want to lease out their property to a responsible Tenant who has a good income, can pay on time, will be a good neighbour, and will keep the property clean.”

This is what you will need to have

Quick checklist

What You Need

Credit Checks – Most recent. e.g 30 days or so, is the trend. Equifax is the preferred choice.
Job letter.
Salary details and Pay stubs
References
Car Parking
Who Will be staying and How Many Members

…there could be more to this list.

If you have more questions, please take help of a reliable local Realtor.

 

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