Rental Requirements in Ontario: What You Need to Get Approved in Toronto

Documents Required to Rent an Apartment in Ontario

When applying to rent an apartment or condo in Toronto, most landlords will request a standard set of documents to assess your financial stability and reliability as a tenant. Submitting a complete and well-prepared application package can significantly improve your chances of being approved, especially in competitive rental markets across the GTA.

While requirements may vary slightly depending on the landlord or property management company, most rental applications in Ontario will ask for the following:

• Government-issued photo ID

• Proof of employment

• Recent pay stubs

• Credit report or credit check authorization

• Rental application form

• References (personal or previous landlord)

Providing these documents upfront in a clear and organized format helps demonstrate that you are a serious and prepared applicant, which can make a meaningful difference when multiple applications are being reviewed.

Income Requirements for Renting in Toronto

In addition to providing documentation, most landlords in Toronto will assess your income to ensure the monthly rent is affordable based on your financial situation. While there is no officially mandated income requirement in Ontario, many landlords follow general affordability guidelines when reviewing rental applications.

A commonly used benchmark is that monthly rent should not exceed approximately 30 to 40 percent of your gross monthly income. For example, if you are applying for a unit that rents for $2,500 per month, a landlord may expect your income to fall within a range that reasonably supports that expense alongside your other financial obligations.

Applicants with stable, full-time employment and consistent income are often viewed more favourably during the screening process. Length of employment, job stability, and the ability to demonstrate reliable income through recent pay stubs or employment letters can all strengthen your application when competing with other prospective tenants.

Landlords may consider several factors when evaluating your income, including:

• Your total gross monthly income

• The stability of your employment

• Length of time at your current job

• Whether your income is salaried or commission-based

• Your existing financial obligations

• Your ability to comfortably support the monthly rent

Credit Score Needed to Rent in Ontario

In many cases, landlords in Ontario will review your credit history as part of the rental application process. A credit report provides insight into your past payment behaviour and overall financial reliability, which can help landlords assess the likelihood of rent being paid on time each month.

While there is no official minimum credit score required to rent an apartment in Toronto, applicants with a history of consistent, on-time payments and low outstanding debt are generally viewed more favourably. Landlords may look at factors such as payment history, credit utilization, and any past delinquencies when reviewing your file.

Maintaining a strong credit profile and ensuring that your report is accurate prior to applying can help strengthen your application and improve your chances of approval in competitive rental markets.

Landlords may review your credit report to assess:

• Your payment history

• Outstanding balances

• Credit utilization

• Any past collections or late payments

• Overall financial stability

First and Last Month’s Rent Explained

In Ontario, landlords typically require a rent deposit equal to the first and last month’s rent before the start of a tenancy. The first month’s rent is applied to the initial month of occupancy, while the last month’s rent is held as a deposit and applied to the final month of your lease when you eventually move out.

This deposit is intended to ensure that the final month of rent is covered and is not meant to be used for damages or repairs to the unit. Unlike some other jurisdictions, landlords in Ontario are generally not permitted to collect separate security or damage deposits beyond the last month’s rent.

In competitive rental markets such as Toronto, applicants may occasionally encounter requests for additional prepaid rent in order to strengthen their application. While this may be presented as a way to improve approval chances, it’s important to understand the distinction between voluntary prepaid rent and additional security deposits.

In Ontario, landlords cannot legally require damage deposits or additional security deposits beyond the last month’s rent. However, tenants may choose to offer prepaid rent voluntarily as part of a competitive application. This is typically discussed during the negotiation process and should never be presented as a mandatory requirement.

If you are unsure whether a request is appropriate or legally permitted, seeking clarification before proceeding with a lease agreement can help you avoid unnecessary financial risk. Working with a licensed real estate professional can also provide guidance throughout the application process and ensure that you are making informed decisions when securing a rental.

Before taking occupancy of the unit, tenants are typically expected to provide:

• First month’s rent

• Last month’s rent deposit

• A signed lease agreement

• Any agreed-upon prepaid rent (if voluntarily offered)

Using a Guarantor on a Rental Application

In some cases, landlords may request that an applicant provide a guarantor as part of their rental application. A guarantor is an individual who agrees to take financial responsibility for the lease in the event that the tenant is unable to meet their rental obligations.

This is commonly requested when an applicant has limited rental history, is newly employed, self-employed, or is relocating from outside the province or country. Providing a qualified guarantor can help strengthen your application and demonstrate an added level of financial security to the landlord.

A guarantor may typically be asked to provide:

• Government-issued photo ID

• Proof of employment

• Recent pay stubs

• A credit report

• A signed lease agreement as guarantor or indemnifier