What do you need to rent in Canada?

• Negotiate Lease Terms (if possible): If there are terms in the lease agreement that you’re uncomfortable with or wish to negotiate, discuss them with the landlord. Negotiable terms may include rent amount, lease duration, or pet policies. Remember as a rule, housing costs should be less than 30% of before-tax household income for effective personal budgeting.
• Sign the Lease: Once both parties agree to the terms, sign the lease agreement. Ensure that you receive a copy of the signed lease for your records. You may also want to sign a roommate agreement that clearly defines responsibilities if you are co-renting (when more than one tenant is named on the lease agreement). This will save you a lot of stress later.
• Pay Security Deposit and First Month’s Rent: Typically, you’ll be required to pay a security deposit (usually equivalent to one month’s rent) and the first month’s rent upfront before moving in. Ensure that you receive a receipt for these payments. You may want to ensure that you get a certificate of deposit (for your security deposit) if your landlord received your security deposit instead of Housing NB. Follow-up with your landlord to ensure your security deposit is held by Housing NB and you are issued a receipt to that effect.
• Complete Move-in Inspection: Conduct a thorough move-in inspection of the rental unit with the landlord or property manager. Document any existing damages or issues on a move-in inspection checklist to avoid disputes when you move out.
• Set Up Utilities and Insurance: Arrange for utilities such as electricity, water, and internet to be transferred into your name. Depending on your rental terms this may not be so. Additionally, consider obtaining renter’s insurance to protect your belongings and liability.

By following these steps and being proactive throughout the rental process, you can secure a suitable rental home in New Brunswick and ensure a positive renting experience.

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*The information provided here is for educational purposes only. Consult professionals before making any financial or real estate decisions.