In Canada, rental agreements typically begin with a one-year lease.
While two-year or short-term rentals may exist, they are relatively uncommon.
Standard tenant requirements include:
- Income: Ideally, monthly income should be 3 to 4 times the rent amount.
For example, if the rent is $2,000, a monthly income of $6,000 to $8,000 is preferred. - Credit Score: A score of 700 or higher is ideal.
If your credit score is 700+, landlords typically do not require advance rent payments.
These criteria help ensure that tenants have the financial stability to maintain the lease and the property responsibly.
