How a Real Estate Transaction Works

Most landlords expect rent to make up roughly 30–40% of your combined monthly income, a credit score above 700, and legal status in Canada. Your agent reviews this with you upfront — so you're not spending time touring homes with a landlord whose criteria you won't meet.

Try the calculator below to see what rent range fits your income before you start touring.

If something doesn't quite line up, your agent can often check quietly with the listing agent or the landlord first to see whether your qualification would work for that specific place — saving everyone a wasted showing.

A landlord with a vacant unit won't wait 1, 2, or 3 months for the right tenant while losing rent every day it sits empty — so your target move-in date needs to realistically match what's actually available.

Set your target date below — we'll also show you units that are already vacant if your date is close enough that a landlord would realistically wait for you.

The documents needed for every applicant moving in are typically: an employment letter, recent paystubs, and — for business owners or the self-employed — bank statements (2–3 months) and/or a Notice of Assessment (NOA) for the last two years as proof of regular income. Also: an Equifax credit report (PDF), photo ID or proof of legal status in Canada, and a reference letter from your current landlord.

If you find a place you like, being ready to submit an offer immediately — instead of scrambling to collect documents — is a real advantage in a competitive rental market.

Tell your agent the truth upfront — it saves everyone time and lets you figure out a plan right away. If your credit score is below roughly 690, a guarantor with strong qualifications may be able to co-sign and strengthen your application.

A vacant unit can often be shown the same day. An occupied unit legally requires 24 hours' notice to the current tenant before a showing can happen.

This includes a brokerage agreement plus an offer covering the rent, deposit amount, and other terms that protect both you and the landlord. Offers can be revised during negotiation — every change needs to be explicitly proposed and agreed by both sides, not just discussed verbally.

Once both sides sign the offer and a confirmation is issued, you have 24 hours to submit your deposit. Two common ways: a wire transfer (a fee applies), or a bank draft from your own bank, deposited into the brokerage's trust account.

Your deposit is held safely in that trust account and is released once your tenancy is confirmed — the same protection applies to both you and the landlord.

Usually the day before or the day of move-in. Bring: proof that you've transferred the utility accounts into your name (arrange this ahead of time — don't leave it to the last minute), a refundable key deposit, and post-dated rent cheques.

Your first post-dated cheque is typically dated for month two — your deposit already covers month one, and there's no cheque for the final month either, since that's covered by your deposit as well. You'll also need to show proof of tenant liability insurance.

The landlord's agent checks all of this before handing over the keys.

Ask your agent to book the elevator with property management ahead of your move-in date.