Documents Needed to be submitted with an offer for lease
When submitting an offer to lease a property in Ontario, there are several documents and information that may be required by the landlord or property manager. Some of these documents and information may include:
Proof of Income: This could be in the form of recent pay stubs, employment letters or income tax returns.
Rental Application: This is a document (which you can download by CLICKING HERE), outlines the prospective tenant’s personal information, such as name, address, employment information, references and other details that the landlord or property manager may require.
Credit Report: This document provides information on the prospective tenant’s creditworthiness, including credit score, credit history, and any outstanding debts.
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References: These may include personal or professional references that can speak to the tenant’s character, reliability, and ability to pay rent.
Identification: This could be a driver’s license, passport, or any other government-issued identification that can confirm the prospective tenant’s identity.
Rental History: This is a record of the prospective tenant’s previous rental experiences, including references from previous landlords.
First and Last Month’s Rent: In Ontario, landlords are allowed to request first and last month’s rent as a deposit when signing a lease agreement.
It’s important to note that the specific documents and information required may vary depending on the landlord or property manager, as well as the property being leased. It’s always a good idea to ask the landlord or property manager for a complete list of required documents and information when submitting an offer to leas
Credit Karma (free)
The Steps To Check Your Credit Score in Credit Karma:
Go to the Credit Karma website at https://www.creditkarma.ca/.
Click on the “Sign Up” button to create an account with Credit Karma.
Enter your personal information such as your name, address, and email address to complete the registration process.
Once you have created an account, log in to your Credit Karma account.
Click on the “My Overview” tab to view your credit score.
Your credit score will be displayed along with other information such as your credit utilization, credit history, and any negative marks on your credit report.
It’s important to note that Credit Karma provides a free credit score and credit report, but it may not be the same as the score and report provided by other credit bureaus. Additionally, Credit Karma only provides credit information from Equifax and TransUnion, so if your credit information is only held by the third credit bureau, you may need to obtain your score and report from that bureau separately.
Credit with Equifax
Here are the steps to check your credit score with Equifax:
Go to the Equifax website and click on “SIGN UP NOW.”
Create an account by entering your personal information.
Verify your identity by answering some security questions.
Choose the product you want to purchase. Equifax offers a range of credit monitoring products that vary in price and features.
Review your credit report and score.
Equifax offers a free credit score report once a year through their website, but you may have to pay to access your score at other times or for additional credit monitoring services.
Watch this Video on YouTube to learn more about Equifax Report (2023)
Remember: Checking your credit score often can have some impact on your credit score. When you check your own credit score, it’s considered a soft inquiry, which does not affect your credit score. However, if a lender or credit card company checks your credit score, it’s considered a hard inquiry, which can have a negative impact on your credit score. Therefore, checking your credit score too frequently can potentially lower your credit score due to the number of hard inquiries appearing on your credit report. It’s recommended to limit hard inquiries to only when necessary, such as when applying for a loan or credit card.