YVR M5, Toronto

Booking Deposit

• You need to pay First and Last month rent as a booking deposit.
• Note: The booking deposit must be paid in full 15 days prior to move in.

Security Deposit

• The standard security deposit is $800.
• A reduced deposit of $300 was discussed as an arrangement that could proceed.
• $200 of the security deposit is non-refundable and covers professional cleaning and new linens for the incoming resident.

Pay In Instalment

• Rent payments are required every 4 weeks on the predetermined payment date.

Mode Of Payment

• Accepted payment methods are cash, e-transfer, and cheque.

Guarantor Requirement

• No guarantor is required.
• Applicants must provide proof of income of at least 3 times the monthly rent.
• Required documents include:
• Government-issued photo ID.
• Bank statement.
• Recent payslip or proof of income showing a minimum income of 3× the monthly rent.
• Work or study permit.

Cooling Off Period

• 30+ days prior to move-in: All payments will be refunded except $200 for paperwork, minus applicable bank transfer or international transfer fees.
• 15–30 days prior to move-in: The security deposit is non-refundable. All other payments will be refunded, minus applicable transfer fees.
• 0–15 days prior to move-in: The security deposit and one month’s rent are non-refundable. Any remaining payments will be refunded, minus applicable transfer fees.

University Course Cancellation/Modification

• 30+ days prior to move-in: All payments will be refunded except $200 for paperwork, minus applicable bank transfer or international transfer fees.
• 15–30 days prior to move-in: The security deposit is non-refundable. All other payments will be refunded, minus applicable transfer fees.
• 0–15 days prior to move-in: The security deposit and one month’s rent are non-refundable. Any remaining payments will be refunded, minus applicable transfer fees.

Early termination by students

• Students wishing to break their lease early must contact the property as soon as possible.
• Students are required to provide 2 months' notice before starting the lease-breaking process.
• The property will provide the necessary information and available options.

Delayed Arrivals & travel restrictions

• If a student is unable to travel due to government-imposed travel restrictions, they must contact the team with relevant supporting documentation.
• The request will be reviewed to explore the possibility of cancellation or contract amendment.
• Requests are considered individually, and the outcome depends on the property's review and applicable booking terms.

Deferring Studies

• Students who have deferred their studies must contact the team and provide updated university documentation.
• The property team will review the request for cancellation or contract amendment.
• Requests are assessed individually.
• The outcome is subject to the property's review and applicable booking terms.

Room allocation

• Students can indicate specific room number or location preferences during the booking process, and the team will accommodate these preferences wherever possible, based on availability.

Check in guide

• Approximately 2–4 weeks prior to the scheduled move-in date, students will receive check-in instructions via email. This communication will include the steps required to select a check-in date and time slot, complete necessary documentation, and settle any outstanding payments prior to arrival.
• In case of any questions or queries, please feel free to contact the team, and our team will assist to ensure a smooth check-in process.

Renewal policy

• Students who wish to extend their stay can contact the team for renewal or rebooking at the same accommodation. Our team will support the renewal process and help students secure a suitable room of their choice. Students are encouraged to reach out early to ensure they can rebook the same room or another room of their choice at the same property.

Early check in policy

• Early check-in requests can be shared in advance with the team. Our team will do a feasibility check to facilitate early check-in requests based on room readiness and availability. Additional charges may apply where applicable.