Before you apply

You’ve found your next home and you’re ready to apply—or are you? We want to increase your chances at securing the rental you want. Read our top 10 questions for prospective renters to make applying for a rental that much smoother.

What do I need for a rental apartment application?

Documents required when applying include:
  • Photo ID (driver’s license or passport)
  • Contact information of all past landlords and employers:
    • Names
    • Phone numbers
    • Addresses
    • Emails
Documents that may be requested when applying include:
  • Letter of Guarantee
  • Employer letter on letterhead stating:
    • Job title
    • Length of employment
    • Salary and expected bonus
    • Start date if you haven’t started the job
  • If you’re self-employed, you’ll need a document from a Certified Public Accountant (CPA) stating your income from last year
  • Copies of pay stubs
  • Copies of bank statements
  • Copies of tax return
  • Copies of last T5
Does a credit check run by Devon Properties affect my credit score?

Whenever a business or individual pulls your credit report, an inquiry appears on your credit history. This inquiry shows who pulled the report and when it was pulled. Most property managers and landlords who perform credit screenings conduct a “soft” inquiry. A soft inquiry has no impact on your credit rating. Thus, you can incur as many soft inquiries as necessary without hurting your credit score.

What is a Letter of Guarantee?

A Letter of Guarantee is a financial and legal agreement obligating a third party to pay any outstanding rent arrears and/or damages to a suite if the resident is unable to pay the amount due. A Letter of Guarantee is often used if a prospective resident does not meet Devon’s resident screening requirements and, therefore, a guarantor may be required. For example, if you have bad credit or if you have no rental history, a guarantor might help you qualify.

How long is my tenancy agreement (lease) for?

Devon’s residents enter into a one-year tenancy agreement, which automatically reverts to a month-to-month tenancy.

Do I need tenant insurance?

Devon strongly advises all residents to purchase tenant insurance—this is for the resident’s benefit. Devon has partnered with Coast Capital Insurance to provide preferential pricing for tenant insurance. For more information about Coast Capital Insurance tenant insurance, please contact Coast Capital Insurance:

Toll Free: +1.888.517.7171
Email: devonproperties@coastcapitalinsurance.com
Website: www.coastcapitalsavings.com/personal/insurance

Learn More…

Do you have any furnished units?

No, Devon does not provide furnished rental units. However, select apartment buildings have furnished guest suites available for short-term rental by residents of these buildings.

Is parking included in the monthly rent fee? What if I have two vehicles?

No, parking is not included in the monthly rent payment. Each Devon apartment building has different monthly parking fees.

Each rental unit is typically assigned one parking spot. If a resident has the need for additional parking spots, the building manager can work with the resident to satisfy their parking needs.

What is your pet policy? Are pets allowed? If so, is there a fee?

Each Devon apartment building is unique and the pet policy varies from building to building. That said, only a select number of Devon buildings allow pets and an associated pet deposit is required at the time of application or at the time of acquiring a pet.

How much will I pay in up-front costs when I sign the lease?

Devon requires the following up-front payments when signing a new lease:

  • Security deposit (equal to one half month’s rent)
  • Pet deposit (if applicable)