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Old 08-27-2013, 06:42 PM
 
152 posts, read 481,963 times
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Will be coming to canada and looking for a furnished apartment to stay for short term. I know for people who live in canada, you just pay by check thus your checking account.


But as an american, what are my options? Will be signing a lease when i get there but short term. I read people pay by credit card but there is a 2 percent or 3 percent foreign transaction fee? I want to know do they accept american check or debit card? Reason i ask is b/c there wouldn't be a foreign transaction fee... or am i wrong here too?
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Old 08-28-2013, 10:19 AM
 
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I guess its between you and the landlord but Its usually personal cheques that are accepted, i doubt a landlord would be set up to take credit card payments,he may ask you to go to the bank and get a cash advance on your credit card to cover the entire rent for your stay. not sure what he would think of drawing his rent from American accounts, why not just open a Canadian chequing account when you get here,deposit enough money to cover the rent then give him rent cheques drawn from the Canadian account
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Old 08-28-2013, 10:26 AM
 
Location: Hougary, Texberta
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You need a SIN to set up a bank account. If you're here temporarily to work illegally, you don't have a SIN or a work visa.

You can pay rent likely cash.
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Old 08-28-2013, 11:30 AM
 
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In case you are wondering SIN=Social Insurance Number
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Old 08-28-2013, 02:14 PM
 
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I will be opening a canadian bank account when i arrive in montreal. Will be opening it at Bank of Montreal and opening a USD one and a CAD one for living expenses.


I will also bring about $3000 USD Cash. So i would then deposit it to my checking account and then have it converted to Canadian bank account and then withdraw the money and pay in CAD cash? I never done a cash advance before but aren't those more expensive than just exchanging usd cash for cad cash?


I figure first month and security deposit i pay instantly, then for the following month and after that, once i have my canadian checking account, then just withdraw money directly from my canadian bank account in CAD cash and pay him like that? Are there landlords that don't accept cash and only check? Here in the usa we always pay rent in check. Obviously all landlords accept in canada accept canadian check right? And zero percent they accept american check?


One last thing. If im signing a 3 month lease, I assume i just have to pay the first month and security deposit immediately or would i need to pay the whole thing up front? Because if its only first month and security deposit that won't be problem since i pay enough cash then once i have funds in my canadian bank account next month and after, then it would be a breeze.
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Old 08-28-2013, 03:53 PM
 
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Its all going to depend on what the landlord wants.usually all transactions are done with a personal check but theres no hard and fast rules, cash at the first of every month might be your best option..
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Old 08-29-2013, 01:05 AM
 
Location: Sunnyside, Calgary
250 posts, read 549,853 times
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Quote:
Originally Posted by lizardblizzard03 View Post
IOne last thing. If im signing a 3 month lease, I assume i just have to pay the first month and security deposit immediately or would i need to pay the whole thing up front? Because if its only first month and security deposit that won't be problem since i pay enough cash then once i have funds in my canadian bank account next month and after, then it would be a breeze.
I think that is a safe assumption. Actually, while I have left a damage deposit upon signing the lease, I haven't paid first month rent until the first month.

I remember reading somewhere that it was illegal for landlords in (i think it was) Ontario to take more than a month's rent up front. The law was intended to protect renters in a tight market from unreasonable demands from landlords...though in the context of the article, the rule took away and opportunity to mitigate credit risk.
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Old 08-29-2013, 01:57 AM
 
Location: Alberta, Canada
2,167 posts, read 1,750,830 times
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Quote:
Originally Posted by mikeinalberta View Post
I remember reading somewhere that it was illegal for landlords in (i think it was) Ontario to take more than a month's rent up front. The law was intended to protect renters in a tight market from unreasonable demands from landlords...though in the context of the article, the rule took away and opportunity to mitigate credit risk.
You're referring to what was once known as "key money." This was a fee that the landlord demanded (over and above the first-and-last) in order to turn over the keys to the unit. This would have been the 1980s or so.

Key money was often unreasonable, thus the ban on it. In the mid-1980s, key money often equated a month's rent, and got the tenant (who had already paid first-and-last) nothing in return--except the keys to the unit. If that sounds like extortion, well, it was. It was often disguised as a fee for pre-existing "draperies" or "carpeting," though charging $500 to $1000 in key money for a one-bedroom unit's drapery or carpeting was too much. Especially for the quality of the drapes or carpet. Key money was non-refundable, and if the tenant upgraded the drapes or carpet, the tenant did so at his or her own expense. He or she got no credit for the drapes or carpet left behind when the tenant moved out. The landlord would tab the next renter for the drapes and carpet in key money.

Ontario finally got fed up with the complaints from renters, and outlawed the idea of key money. All an Ontario landlord can ask now of a new tenant is first-and-last, and nothing else.

I was in the rental market in Toronto in the mid-1980s. I well remember the landlord who wanted first-and-last, and $1000 for "draperies." I knew he was asking for key money. I didn't take the apartment, and found one where no key money was demanded. I'm glad that Ontario made the idea of "key money" illegal.
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