Are you looking to get into renting at Lumiere Condos? Take a peak at some of the common questions that come up for prospective tenants at 770 Bay Street:
What is the pricing like for suites at Lumiere Condos?
As of the time of writing, the average price for suites in Lumiere are the following:
1 Bedroom: +/- $2,100/month
1+1 Bedroom: +/- $2,300/month
2 Bedroom: +/- $3,100/month
2+1 Bedroom: +/- $3,500/month
*Please note that there are no bachelor units in Lumiere. Also, 1 and 1+1 bedroom units all include 1 bathroom, while 2 and 2+1 bedroom layouts all include two full bathrooms.
Prices are always changing throughout the year (though, admittedly, usually in the upward direction…), so check in with us for the most accurate pricing on available suites in the building.
What utilities are typically included?
Suites at Lumiere Condos are separately metered, so most landlords require tenants to cover their own hydro payments. Water, heat and air conditioning is paid for by the landlord through their monthly maintenance fee payments to the condo, though the motor to run the heating and air conditioning unit in the suite is powered by hydro, which you as a tenant pay for with your monthly hydro bill.
In addition, be prepared to set-up liability and possibly contents insurance too, since most landlords request this to be done prior to handing over the keys to the unit. We can help with our great contacts to help you get the best coverage at the best prices!
Everyone landlord will want to ascertain your tenant worthiness by determining how likely it is that you’ll pay your rent on time. This is done with a full credit check, including your score number & details, that will show your payment history and outstanding loans, which is basically a window into your credit history and behaviour. If you are new to Canada and do not have a credit history, contact us for ways to work around this.
Additionally, a landlord will request to see a letter of employment, or a copy of your student enrolment letter (if a student and not working). Any further information that you can provide to help round out the landlord’s confidence in you as a tenant, whether with blacked-out bank statements, rental reference letters or anything else that fits your scenario, are often well appreciated.
In some cases, a landlord may request that you provide a guarantor on your lease, who becomes the official “fall-back” person in the event that you don’t pay your rent on time. Sometimes this is done when insufficient credit information is available, or for other reasons that make a rental application less desirable. The guarantor on the lease must be Canadian, ideally local, and provide a full credit report and employment letter, just like the tenant on the lease agreement. The guarantor is also required to sign the lease agreement too.
The last document to complete is a rental application, which provides a one-page detail of you as a tenant: who you are, where you’ve lived, why you’re moving, employment/student obligations, loans or lines of credit, car information (if any), and your signature at the bottom.
Still looking for more answers about renting at Lumiere Condos? Check out our main The Condo Lounge page for details on renting in general, our team, and how The Condo Lounge is hyper-local in our real estate approach to make life easier and simpler for you! Check out the Renter page on our website right here.