261 Lester St, Waterloo, ON

Booking Deposit

• Last Month's Rent (LMR) is required with the Residential Tenancy Application.
• First Month's Rent (FMR) is required before occupancy upon key collection.

Security Deposit

• A $250 key deposit is required.
• Students without a Canadian guarantor are required to pay a refundable furniture deposit equivalent to one month's rent.

Pay In Instalment

• Monthly instalments are available.

Mode Of Payment

• Pre-Authorized Debit (PAD) / Automatic Bank Withdrawal.
• Cheque.

Guarantor Requirement

• A Canadian guarantor with proof of income equivalent to at least 2× the monthly rent is required.
• Canadian guarantors are preferred over additional deposits.
• Students without a Canadian guarantor are required to pay a refundable furniture deposit equivalent to one month's rent.
• A third-party guarantor service may be available.

Additional Fees

• Hydro charges are paid separately from the rent and must be paid monthly.
• Tenant insurance is required before moving in.
• Utility accounts must be set up by the student where applicable.
• An NSF administration charge of $20.00 applies if a cheque is returned unpaid.
• After a second returned cheque, future rent payments must be made by cashier's cheque or money order.

No Visa No Pay

• Visa-related cancellations considered under this policy.
• Refund eligibility reviewed case by case by property manager.
• Proof requirement: Visa rejection evidence.

Early termination by students

• Students who cancel after signing the lease are charged a $500 cancellation fee.

Delayed Arrivals & travel restrictions

• If you are unable to travel due to government-imposed travel restrictions, please contact the team with the relevant supporting documentation. We will facilitate the request to review your circumstances and explore the possibility of cancellation/contract amendment. Requests are considered individually, and any outcome will depend on the property's review and applicable booking terms.

University Course Cancellation/Modification

• If your course has been cancelled by your university, please reach out to the team with the relevant supporting documentation. We will liaise with the property team to review your request on a case-by-case basis for cancellation. The resolution will be subject to the property's assessment and the terms of your booking.

Deferring Studies

• If you have deferred your studies, please contact the team and share your updated university documentation. We will notify the property team to review your request for cancellation/contract amendment. Requests are assessed individually, and the final outcome will be subject to the property's review and booking terms.