Renting Real Estate

Renting a Home – What to Expect

Though it is not well-known, REALTORS® like me also look after residential rentals, helping tenants like you find places to rent, and helping landlords find qualified tenants for their properties.

Understanding the Process

Do you need help finding a place to rent or listing a rental property? When working with a REALTOR®, the process is the same as for buying  or selling a home.

One important factor to note is that in 2018, tenancy in Ontario saw a significant change with the introduction of Ontario’s Standard Lease. Many landlords and tenants are still not aware that use of the lease is now required by law for most private rental units, whether they are located in individual homes or larger buildings. Send me a note if you would like more information or help with your tenancy needs.

Financial Requirements

To rent a property, tenants must usually qualify financially by meeting at least two criteria. First, they need a good credit rating. Second, they must show their monthly income is enough to afford the rent for a particular property.

Experienced landlords have tenants complete a rental application. This application asks for employment and income information, as well as monthly financial obligations. Some landlords also require copies of recent pay stubs.

Financial Requirements

To rent a property, tenants must usually qualify financially by meeting at least two criteria. First, they need a good credit rating. Second, they must show their monthly income is enough to afford the rent for a particular property.

Experienced landlords have tenants complete a rental application. This application asks for employment and income information, as well as monthly financial obligations. Some landlords also require copies of recent pay stubs.

Rights and Responsibilities

The key difference between owning and renting is that when buyers and sellers interact it is typically a short-term relationship in which property changes hands.

With landlords and tenants, the relationship is ongoing for as long as the parties agree to rent to/from one another. For a successful ongoing relationship, it is important that both landlords and tenants understand they have responsibilities along with their rights. Mutual respect for each other, and for the property being rented, also contributes to a stronger relationship.

Who Pays Me?

When listing a property for rent with a REALTOR® in Ontario, the landlord pays the listing brokerage a commission in the same way a seller pays the listing brokerage. The difference, with rentals, is that the commission tends to be a flat rate rather than a percentage of the total price.

The commission is negotiated before listing. On the day of completion – that is, once the tenant has taken possession of the rental unit – the total commission payment is divided between the listing brokerage and the brokerage representing the tenant. Each brokerage then further divides their share of the commission between the brokerage and the agents who represented the landlord and tenant(s).

Please note: I do not accept referral fees. I ask those offering referral fees to make a donation to the Royal LePage Shelter Foundation. It is important my clients know that when I refer a person or company it is solely because I believe in their product or service, not because I will benefit in some way.

What to Expect – Working with Me

I don’t believe it is my job to sell you on anything. I do believe that, as a REALTOR® it is my role and responsibility to provide you with:

  • facts and knowledge to help you make informed choices and decisions as educated buyers
  • advice and perspective based on many years of experience buying and selling homes
  • resources and specialists to help your decision-making with knowledge outside of my own expertise

You can rely on me to be truthful, respectful of your time, knowledgeable about Ottawa real estate, and attentive to your needs. I am an experienced negotiator, flexible when needs/wants/timing/plans change, and ethical as well as conscientious.

Key Documents for Landlords and Tenants

There is plenty of paperwork in any real estate transaction. Understanding each document is key to being a knowledgeable, confident landlord or tenant. Too much information all at once can be overwhelming though, so each time we get together I will go over another piece or two in the paperwork puzzle until you have a clear overview and understanding of each document.

When renting property with the help of a licenced REALTOR® in Ontario, the following are plain language versions of some of the most commonly used documents. 

Tenant

Working with a REALTOR® (PDF)

Tenant Representation Agreement (PDF)**

Agreement to Lease (PDF)

Confirmation of Cooperation and Representation (PDF)

**There is currently no “plain language” version of the Tenant Representation Agreement, but it is virtually identical to the Buyer Representation Agreement for which a plain language version is available here, for reference only.

Landlord

Working with a REALTOR® (PDF)

Landlord Representation Agreement (PDF)**

Agreement to Lease (PDF)

Confirmation of Cooperation and Representation (PDF)

**There is currently no “plain language” version of the Landlord Representation Agreement, but it is virtually identical to the Seller Representation Agreement for which a plain language version is available here, for reference only.

Help Me Understand Your Needs

If you would like help renting, please complete the form below and I’ll get in touch.

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