You’ve finally found the right apartment, and what do you know? You got the lease! It’s close to work, has good transit nearby, and maybe even has a balcony you can finally host your cycling club buddies after a trail run. But before you can sign the lease, your landlord needs first month’s rent, last month’s rent, and a pet deposit. That’s thousands of dollars, all at once.
For the average Canadian, that type of money isn’t always sitting in the account. That’s where a Loan Express rent-deposit loan can help: fast approval for up to $1,500 in minutes, with funds sent by e-transfer or direct deposit almost instantly.
Why Move-In Costs Hit All at Once
You’ve likely moved before, so you know the drill. There’s lots to prepare for, and even more to pay for. Aside from the moving truck fees, or the copious amounts of pizza and beer for your friends on move-in day. In Canada, housing demand is high, and landlords often require multiple payments upfront. According to Rentals.ca, the average rent in Canada is $2,125. Add deposits and fees, and move-in expenses can climb quickly:
- First month’s rent: due immediately to secure the unit
- Last month’s rent or security deposit: required in most provinces
- Additional charges: think pet deposits to key or elevator fees
These costs land in the same week, and missing them by even a day can mean losing the unit to another applicant.
Can a Loan Cover Rent Deposits and Move-In Fees?
Loan Express payday loans of up to $1,500 are designed to cover the shortfall when rent deposits and move-in costs come all at once. Whether it’s a $700 damage deposit in BC or $1,018 toward your first month’s rent in St. John’s, funds arrive in minutes, giving you peace of mind and the keys to your new home.
8 Common Move-In Expenses a Payday Loan Can Pay
Moving in doesn’t just mean getting the keys, it also incudes first month, deposits and extra fees stacked on top. Here are the most common costs Canadians face when signing a new lease:
First-month rent — average 1-bed in Ontario: $1,885
According to Rentals.ca, one-bedroom apartments in Ontario averaged around $1,885/month in August 2025. That full amount is usually due the day you sign. That means that Loan Express gets you most of the way there, leaving roughly $385 to top up from savings or other income.
Last-month rent deposit (ON) — equal to 1 month’s rent
In Ontario, landlords are legally allowed to request a last month’s rent deposit to secure the unit. This is typically the same as your first month’s rent. If you’re able to cover the first month, but need a little help, apply with us.
Damage deposit (BC/AB) — up to ½ or 1 month’s rent
By law, landlords in BC can ask for a security deposit up to half a month’s rent, with an optional additional half month for pets. In Alberta, security deposits can be up to 1 month’s rent.
Key/buzzer & lock change fee — varies by landlord
Some landlords or property managers charge for re-keying locks, replacing fobs, or setting up buzzers. Costs vary, but it’s common to see a fee in the $100+ range.
Application or credit-check fee — up to $50–$60
In competitive rental markets, landlords or property managers may charge a non-refundable application fee to run a credit check.
Brokerage/lease-setup fee (major cities) —case by case
In Toronto and Vancouver, some rentals listed through agencies include an administrative or brokerage fee, which can run a few hundred dollars.
Pet deposit (BC only) — capped at ½ month’s rent
If you’re moving with a cat or dog in BC, landlords can request a separate pet damage deposit, but it cannot exceed half a month’s rent, regardless of the number of pets.
Moving-elevator booking fee — often $100–$200
Many condo boards and high-rises require tenants to book the service elevator for moving day. This typically comes with a refundable deposit or a flat fee.
Real-World Canadian Renter Scenarios & Costs
Did you know that Loan Express is one of the most trusted payday loan companies in Canada? With a 4.8 rating on TrustPilot, we are proud to give peace of mind to Canadians across the nation. Here are a few real-life examples of how we’ve helped those in need of cash for rent.
“Quick, easy, convenient. Absolutely no hassles. Will definitely recommend to my friends and family. Took 5 minutes as advertised…my rent cheque won’t go nsf because of you guys!!” – DM
“I’m actually shocked right now. Needed the loan for rent, was insanely skeptical. So far so good. After providing all my info I had money roughly 10 minutes.” – Shelby
“Being on disability is extremely hard financially, my payments are always different cause of claiming my husband’s pay. There’s been months that I can’t pay rent with my payments. On those lower months Loan Express has helped me greatly.” – Dawn
Loan Express makes it simple to get fast online payday loans across Canada, whether you’re in a major city or a small community in New Brunswick, Nova Scotia, Ontario, Manitoba, Saskatchewan, Alberta, British Columbia, or Newfoundland and Labrador.
Step-by-Step: Get Funds Before Someone Else Signs the Lease
With this economy and housing shortages, securing a rental often comes down to speed. The faster you can pay the deposit, the faster the unit is yours. With Loan Express, the process is designed to be quick and stress-free:
Fill the 3-Minute Online Form
Enter a few basic details like your ID, income type, and pay cycle. No piles of paperwork or long applications.
Instant Decision: No Score Damage
Approvals happen in minutes with no credit check.
E-Transfer or Direct Deposit in Under 3 Minutes
Once approved, funds are sent straight to your account, fast enough to lock down your new place the same day.
Auto-Debit on Next Paycheque
Repayment is automatic on your next pay date.
Rent-Deposit Loan FAQs
Can Loan Express pay my landlord directly?
No, the funds are sent to your account by e-transfer or direct deposit. That way, you can pay your landlord in the method they prefer, whether it’s by cheque or automatic deposit.
How fast will funds hit my account to hold the unit?
Most approvals take only minutes, and funds usually arrive within 2. That’s often the difference between securing the lease and losing the apartment to another applicant.
Can I get a rent-deposit loan with bad credit?
Yes. Loan Express looks at your income type and pay cycle, not your credit score.
What if my deposit exceeds $1,500? Can I top up?
If your upfront costs are higher than $1,500, you’ll need to cover the rest from savings or other sources. Once your first loan is fully repaid, you can apply for another if needed.
Get That Rental With Loan Express
Finding the right rental is stressful enough; the last thing you should worry about is losing it over a deposit deadline. With a Loan Express rent-deposit loan, you can cover first and last month’s rent, security deposits, or unexpected move-in fees the same day you apply. Funds arrive in minutes, repayment is straightforward, and you walk away with keys in hand.