Greetings All
Simply wondering if someone looking to get into a rental agreement for a property being rented by an individual,
1) Is it usual to request a copy of the owner's documents (property ownership document etc.) so that you are not up for a rude shock later?
2) Is there a formal rental document that is attested by both parties for such rentals?

Thanks a ton in advance
b

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Bombay State of mind
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Greetings Bombamma,

You surely can request the gentleman that wants to rent to you, for a copy of the current city assessment and the taxes paid by him. Tell him that this is to make sure that he is the owner of the property. (There are a few who sublet, so tell him it bothers you not knowing that...)

Prior to renting, most of the landlords will ask you to sign an application form, providing them to investigate your financial status and also a few references to support you. They normally will conduct a credit check and after they find out the same, they might say that the property got rented. So, ask him if there are other applicants ahead of you. You can also ask him for the names and phone numbers of the previous renters too. If he/she has it.

Yes. There are standard lease agreement forms, either it is for monthly or for an year. Most of the owners who want to rent to you for the first time will ask you to sign an year's lease. They can ask you for the current months rent and also the last month's. They are free to include any kind of stipulations in it. If you find that they are unreasonable you need not accept the rental. Tell it to him right to his face. (Over the phone)

Before you take the place, please make a check list and see if it meets with your requirements. 1) The total rental cost 2) The surrounding area and the conveniences 3) the closeness to everything that you will need in a hurry. 4) the closeness to work and schools etc., 5) The number of rooms that are available at that place 6) the size of the rooms etc., 7) who your neighbors are? 8)Is the kitchen up to your standards and everything is in ship shape and working. The list can go on... but it is the one you make and see if it is the dream house that you want to get in to and stay there for a few years. You may have to keep up with the maintenance, so make sure the appliances are robust and fairly new. See if he will paint the place for you fresh. Take a few pictures if you are entering the place and show it to him before you get in and make the payment.

Some will provide you with a relief of a month or two, depending upon the nature of the Owner and how hard they are to rent at those locations. So be careful. Some will provide you with moving expenses, instead. Some don't give anything.

Current years approved rental increase in Ontario.: http://www.checkfirstonline.com/rent_increases.htm

This section is from CMHC for Renters.:
http://www.cmhc-schl.gc.ca/en/co/reho/index.cfm

Currently it is renters market. I know you will do your research for suitability before you look for a location. After you find one, do tell us how you went about it and how happy you are after you settle down.

In my books, rentals is the best, for a very small families, and you can extend your stay there even after retirement. It lends to frugality and provides you with a sense of security and a peace of mind in safety and comforts.

Hope this helps you a little.

Freddie.

Thanks a ton for the detailed response..more that what I had asked for..real value added repsonse

Merci
b

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Bombay State of mind
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