Prepaid Rent

[CaroM8]

I was wondering if anybody knows from personal experience if landlords would accept prepaid advance rent, in lieu of paystubs etc?

The reason I am asking is for when my husband and I relocate to Canada, obviously it will take more than a couple of weeks to find employment and get a paystub. We want to get our own place right away and avoid staying with family and friends for too long. I know it depends on the individual, but would some landlord accept upfront 6 months rent for example, in lieu of employment? I am Canadian Citizen, my husband would be the new PR, if that changes anything. This would be in Ontario.

 

[Leon]

They may accept it and some might even ask for it but it's actually against the law for them. They are only allowed to ask for first and last months rent. You can offer them to see your bank statement instead.

 

[ssoy]

They may accept it and some might even ask for it but it's actually against the law for them. They are only allowed to ask for first and last months rent. You can offer them to see your bank statement instead.

Yes, thats what we did as well. Still, they asked for a co-signor initially. Worked hard to convince them we would be decent and good tenants. So they waived that requirement. We only paid first and last months rent and gave them thenumber of the person in charge at the bank to call and confirm our financial standing.

 

[wyho007]

Yes, thats what we did as well. Still, they asked for a co-signor initially. Worked hard to convince them we would be decent and good tenants. So they waived that requirement. We only paid first and last months rent and gave them thenumber of the person in charge at the bank to call and confirm our financial standing.

I'll be in the same boat as you do in a few months. Thank you for sharing your experience.

 

[Leon]

Sometimes it can help too if you show them that you have a foreign credit card as a sign that you are financially responsible. In Canada, you don't get a credit card unless you have good credit.

 

[CaroM8]

Sometimes it can help too if you show them that you have a foreign credit card as a sign that you are financially responsible. In Canada, you don't get a credit card unless you have good credit.

Thank you! I am Canadian Citizen, and yes I do have 2 pretty good credit cards and I think my credit score is pretty good too.. Maybe a print out of a good credit score would be helpful as well? I guess we could always have a co-signer... just doesn't feel right though at 28 years old haha

Thanks for everyone's input!

 

[foodie69]

Sometimes it can help too if you show them that you have a foreign credit card as a sign that you are financially responsible. In Canada, you don't get a credit card unless you have good credit.

Had no problems getting two credit cards from RBC for the both of us..Even with no Canadian credit score.

 

[Leon]

Had no problems getting two credit cards from RBC for the both of us..Even with no Canadian credit score.

In that case you had more luck than I did. I was rejected by RBC even though I already had a job when I applied. I was told by more than one bank that I had to have had a job for 12 months to get one. At some point after working for 11 months, I was at a trade show and applied for a couple of cards that were giving out freebies and one put down on my application 11 months and the other put 1 year and the first application was rejected and the 2nd was approved.

 

[NetMecca]

Sometimes it can help too if you show them that you have a foreign credit card as a sign that you are financially responsible. In Canada, you don't get a credit card unless you have good credit.

If credit is an issue for getting a credit card, most of the banks would be willing to give you a guaranteed credit card. You put the value of the credit card in a locked account with the bank as surety for the credit card. This worked well for me. I was able to get a credit card almost instantly. It did take some time building my credit record before I was able to get an unsecured credit card.

 

[Nicolas4786]

In that case you had more luck than I did. I was rejected by RBC even though I already had a job when I applied. I was told by more than one bank that I had to have had a job for 12 months to get one. At some point after working for 11 months, I was at a trade show and applied for a couple of cards that were giving out freebies and one put down on my application 11 months and the other put 1 year and the first application was rejected and the 2nd was approved.

Huh?? weird when i first landed as a PR I was without a job. The very next day I went to open a bank account with RBC and I was given a credit card few days after.

 

[CaroM8]

Thanks guys!

I already have too many credit cards, that's not the issue haha.

 

[Sonata95]

Thanks guys!

I already have too many credit cards, that's not the issue haha.

Hi CaroM8, pls reply once you sign rent contract just pay first and last month of the rent contract. I went a few landlord and they almost ask us the job offer and paystub to ensure us have enough finance to pay the rent