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Tips on Renting an Apartment without Credit History or Job Offer in Canada

Ashley Shelton

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The first few months as a newcomer in a new country are daunting. As an essential and high-priority task, one needs to find an ideal accommodation to settle. Renting an apartment in Canada often turns out challenging with deposits, an employment letter, a credit report, and references. And as a newcomer, most of us aren’t able to meet all the requirements. So, here we bring a few tips on renting an apartment in Canada with no credit history and a job offer.

1. Offer proof of savings from a bank account

One can demonstrate their reliability by showing proof of savings to successfully manage a few months of rent. You don’t need to offer a complete bank statement. Talk to your banking advisor to know what options you have and obtain a letter that you have enough funds to rent an apartment in Canada.

2. Offer a co-signer or local guarantor

A local guarantor or a co-signer will agree to pay the rent on your behalf if in case you fail to do so. Being a guarantor or co-signer will legally bind anyone of your friends or relatives to act as a guarantor for you. One must always consider the impact of it on their relationship if they fail to hold up at end of the bargain.

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3. Explore house-share arrangements

One can always go for a shared accommodation by-

  • Subleasing from an existing tenant
  • Co-signing the lease agreement with a roommate with a good credit history
  • Leasing from a landlord who lives in the same house

What is a sublease?

A sublease permits one to rent accommodation from the original tenant of an apartment. Rent payments are made to the existing tenant who pays the landlord. The rooms that are subleased by tenants do not require you to provide a credit report or employment letter. In Canada, many people look out for roommates for living arrangements. We recommend, that instead of signing a sublease with the existing tenant, one could explore the option of co-signing the lease with a roommate who has a decent credit history.

Renting out an apartment with a landlord living in the same house at times overlooks the requirement for credit history and employment letter. One can easily start their search by looking for shared accommodation listings on the websites like Kijiji, Craiglist and to name a few.

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4. Offer more deposits than expected

Each Canadian province has stringent legal guidelines on renting an apartment. For Instance, in Ontario, one has to pay the first and last month’s rent in advance and there is no requirement for a security deposit. However, in British Columbia, one is required to pay a security deposit equal to half the monthly rent. Due to the lack of a credit report and employment letter, one can offer the landlord a few more months of rent to let them accept the application over another. Always remember, no landlord can ask you legally for any additional amount beyond the specified norms.

5. Rent out basement apartments by individual owners

It is comparatively easier to find a basement apartment that is owned by an individual than a property owned by management firms or large investors. The application process for apartments located in rental buildings has very strict and has no flexibility when it comes to credit and employment verification. However, individual landlords are more willing to understand your unique situation and try to make an exception to accept you as a tenant.

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