Rental FAQ

Renting with TerraCorp is a simple three-step process:

• Review our listings by searching our website. You can search by city, neighbourhood, address, or property name. 
• Book at tour with one of our friendly and professional on-site Resident Managesr or Leasing Agents by filling out the form online or by calling the number listed.
• Fill out a rental application and a lease with the Resident Manager/Leasing Agent after touring or request to be emailed an electronic version.

The rental application consists of seven parts. A Resident Manager or Leasing Agent can assist you with any questions regarding the following steps:

1. PROOF OF INCOME
There are three types of documents you can use to show proof of income:

• Originals or photocopies of your two most recent pay stubs/statements.
• If you’re retired or self-employed, a copy of the two most recent Notices of Assessment (or a letter from your accountant/CPA)
• If you’ve started a new job within the last 45 days, an offer letter of employment on letterhead stating your name, that you work for the company, your status (full or part-time), and your rate of pay.

2.  LAST MONTH'S RENT DEPOSIT
A deposit of the total rent amount due for the last month is owed as part of the application process. Please use a certified cheque or money order made out to TerraCorp. Management Inc. The Resident Manager or Leasing Agent will provide you with the correct amount.

3.  PHOTO ID
Include one of the following photo IDs:

• Current valid Driver's License
• Current valid Passport

4.  REFERENCES
You must share three references in your application:

• Two Personal (non-family)
• One Credit (Financial Advisor, Accountant, Broker, etc)

5.  CREDIT CHECK
As part of the application process, TerraCorp will run a credit check on your file to better understand your credit score. 
 
6.  PROCESSING TIME & APPROVAL
Once your application has been submitted, please allow 48 hours for your application to be processed. Once you are approved, the Resident Manager will notify you and schedule a time for you to pick up your key, book the elevator (if applicable) and receive an orientation of your new home and community.
 
7. RENTERS INSURANCE
TerraCorp requires all residents to have and show proof of renter’s insurance. This must be provided prior to moving in. We accept renters insurance from any provider.

Residents may have pets, but they must not interfere with the reasonable enjoyment of their fellow residents. You will also be responsible to pay for any damage caused by the pet.

All applicable by-laws must also be adhered to. 

For an additional monthly fee, residents can have access to surface or covered parking (depending the property and availability).

Please speak to the Resident Manager or Leasing Agent for further details.

Smoking (any substance) or vaping is not permitted in suites, on balconies, or anywhere within the apartment community.  If you require to smoke marijuana for medical purposes, then you must inform your building’s Resident Manager in writing and provide medical confirmation. 

All TerraCorp properties use the industry and legally standard lease contract timeline, which is 12 months.

If you have not providing your 60 day notice to terminate your lease, it will automatically become a month-to-month lease.  

As per the Residential Tenancies Act, all leaseholders on the lease must provide 60 days written notice to terminate their lease. The termination date cannot be before the last day of your 12-month fixed lease agreement period and must be the last day of the monthly rental period. For example: if you give notice to end your tenancy on June 20, the earliest possible termination date would be August 31.