Requiring a BANK DRAFT in order to CONSIDER a tenants rental application is going too far and is actually not legal!

For those who don't know, a bank draft is a piece of paper that represents money withdrawn and held in a draft for a specific person. It is not the same as a cheque.

A bank draft is the same as handing over a wad of cash to someone.

I am looking for a new apartment and found a nice place on 61 Charles street, property management is Reitter.

We go to submit our application and they want the standard stuff plus a bank draft.

I asked: what surety do we have that we will quickly and immediately receive our bank draft back if we are not approved as tenants?

I wasn't worried we would not be approved our credit scores and paper work is good but it is the principle and risk of it I don't like.

I said "will Reitter write a signed document stating they will return my bank draft within 3 days if we are not successful in our tenant application?" and they essentially said no they will not, this is their standard practice.

Absolutely not. We have been viewing multiple places and discussing applications with kther landlords and no one else is requiring a bank draft (cold hard cash) for an application. Bank draft once my application is approved and lease is signed I take no issue with.

Just wanted to warn others. This is actually not legal. I can't post my screen shot but Google will tell you under the Residential Tenancies Act it is not legal.