Condos for Rent in Toronto
If you’re looking for condos for rent in Toronto, find the perfect place to live by visiting Renting Toronto’s online directory.
Renters looking for a place to live in Toronto have a wealth of options and locations to choose from. Whether you’re looking to live in a condo located in a quiet suburban neighbourhood or one near the city’s entertainment district, there are many condos for rent in Toronto.
The GTA is a bustling city with six million people living within the metropolis with many condos available for rent in Toronto. The city’s diverse population boasts many entertainment options, restaurants and activities for residents to partake in, which contributes to making the city a great place to live. Our city’s multiculturalism, extensive transportation and economic opportunities has attracted many new residents from across the country and around the world to call this city home.
To accommodate our constantly growing population, construction cranes dot the skylines in a bid to develop more condos for residents to choose from. This is good news for renters since once complete, this will lead to more condos for rent in Toronto.
Many condos for rent in Toronto are located in convenient locations, which in some cases allows residents to get around by walking, taking transit or riding their bicycle. On the other hand, there are many condos for rent in Toronto that do offer parking spaces, if needed.
Meanwhile, if it’s your first time looking for condos for rent in Toronto, you might be torn on how to find a place to rent.
What to look for in Toronto condos for rent?
Looking for a place to rent in Toronto can be a stressful experience if you’re unsure where to start. The first thing renters need to do is narrow down what they’re looking for.
Some questions that will need to be answered include the number of bedrooms you’ll need, what type of housing you want to live in and the amount of rent you can comfortably afford. The amount of rent you can afford will dictate other aspects, such as the neighbourhood you may live in and the size of the property you can rent.
Other considerations include proximity to work, school or transit, whether there’s room for a parking space and whether you want to live in the rental property alone or if you don’t mind sharing with roommates. Also, note the amenities you’d like in the place you call home, such as an in-suite washer and dryer, a gym or a concierge. Keep in mind that all these aspects, including the square footage of a rental space, affect the price of a condo for rent in Toronto.
Your budget plays a critical part in looking for a condo for rent in Toronto since if you miss a payment or you’re late with a payment, your landlord has the right to issue an eviction notice.
Where to look for condos for rent in Toronto?
Once you have narrowed down the parameters of what you’re looking for, the next step is to find options that match what you have in mind. Renting Toronto offers a frequently updated list of condos for rent in Toronto for you to choose from.
The best way to find condos for rent in Toronto is by visiting a listing website, such as Renting Toronto, and filtering the potential places to live based on the parameters you decided upon. It’s always best to have a written list of what specific characteristics you’re looking for so you can ensure that a potential listing meets your needs. This way you also don’t get distracted by other condos for rent in Toronto that aren’t suitable for you.
If it meets everything you’re looking for, come up with a shortlist of condos for rent in Toronto that you would want to move into. While you may have a top choice or two, be prepared for the possibility that they may no longer be available for rent. It’s always best to have a list of four or more places and this way you aren’t back to square one if the one place you had your heart set on is already rented out.
Once you’ve come up with a list of five or more places, schedule time to book a viewing. Unfortuantely there are scammers out there who will put up pictures of condos for rent in Toronto on the Internet and claim it as their own. A viewing lets you verify the listing for yourself and this way you can also ask the landlord a few questions about the property.
Questions you should ask the landlord
While a posting for condos for rent in Toronto mentions relevant information, such as the number of bedrooms and bathrooms, along with the amount of space you could live in, take some time to talk with your potential landlord before agreeing to rent their space.
Gather more details about the utilities in the unit since you will be responsible for paying for them. Double check whether the price of rent accounts for the monthly utilities and if not, find out what you will need to cover and how much that could be. If you’re sharing utility costs with other renters, inquire about how that cost will be split. Some utilities, such as Internet or cable TV may or may not be included, which you’ll want to be aware about.
For some renters, the amenities you’d like to have, such as an in-suite laundry or a gym, can be a deciding factor into whether you want to rent the unit. Along with viewing the rental unit itself, don’t be afraid to ask the landlord to show you the amenities during your visit.
To maintain a good relationship with your landlord, knowing what maintenance duties you’ll be expected to handle and what duties your landlord will handle will go a long way. Establish these ground rules to avoid having your landlord stumble upon a giant mess when visiting. By law, landlords are responsible for any emergency repairs that affect your health and safety when living on the property.
If you’re unfamiliar with the neighbourhood, landlords can share great insight into the area that you may not have otherwise known. This information could prove valuable, but keep in mind that your landlord may only want to share the area’s positive attributes. Always conduct your own independent research as well.
How do landlords pick tenants?
For many landlords, their rental property is a long-term investment and the rent you’re paying may either go towards paying their mortgage or put extra cash in their pocket.
Just as you want to find a good place to live, a landlord is looking for an ideal tenant to stay in their place. The less issues a landlord has to deal with in their rental property, the better.
As you’re determining whether you want to live in the property, the landlord is debating whether they want to rent their property to you. Landlords may legally request permission to conduct a credit check. They can also ask for proof of employment, proof of content insurance and any past references. It’s in your best interest to have all this information ready ahead of time since this will speed up the process.
Look over your credit report prior to giving it to your landlord to ensure that everything is accurate and up-to-date. If you have a bad credit report or credit score, some landlords will automatically disqualify you as a tenant. There can be mistakes made by either the credit bureau or the lender and it’s up to you to catch them and resolve them. Issues on your credit report can directly impact your ability to find a place to live and in some cases, you may be required to have a guarantor or co-signer sign a lease agreement.
Your credit report acts as a barometer for landlords to get a better idea into your financial situation. While their request for proof of employment typically informs them of your current occupation and your salary, the credit report gives them a better look into your debt obligations and your credit behaviour. Many landlords will judge whether you are a reliable renter by looking at your credit report and if you have a habit of missing payments on various accounts, these could be seen as red flags. They could be concerned that if you have issues making payments on other credit obligations, you might not pay your rent on time either. It’s important to check your credit report annually to ensure that everything is in order. If you’ve made financial mistakes in the past, practising and demonstrating good financial habits over time is the only way to improve your score over time.
While landlords will have insurance on the property, this doesn’t protect your personal belongings if there’s a fire or a break in. Any damage you cause to the property is your responsibility, which tenant insurance assists with. Also, if someone is hurt on the property while you’re renting it, you could also be held responsible for injury compensation. As well, tenant insurance covers the cost of hiring a lawyer if you’re taken to court and any payouts you may be responsible for. An insurance policy can protect renters in these unfortunate events and you will benefit the most if you keep your list of personal property up to date.
It’s always best to stay on good terms with any previous landlords since many landlords will want to inquire about your behaviour as a renter. Some questions they could ask include finding out whether you there were noise complaints or bylaw infractions during your tenancy, how well the place was cared for during your tenancy and whether you paid your rent on time.
Landlords weigh many factors when it comes to choosing a tenant and meeting their expectations on each of these aspects gives you a better chance of renting out your ideal place to live.
What to do once a landlord accepts you as a tenant
If the landlord has said they want to rent their property to you, there may be a few more steps involved before it’s official.
Ask your landlord whether a lease agreement will be signed. These aren’t required in Ontario, but tenants may prefer to have one since it serves as written proof for everyone’s expectations in the rental deal. This will also detail the terms and the timeframe of the lease. Typical lease terms will last for one year and the lease agreement can either be signed again afterwards or the renter and landlord may decide to a month-to-month agreement.
Before signing the agreement, make sure you understand the terms and that you’re happy with them. If there are issues you have with the document, mention your concerns to the landlord.
In terms of rental payment, landlords are also allowed to request a security deposit and when you pay rent, they may either request postdated cheques or request cheques at the first of every month.
While landlords set the terms of the agreement, they will not be allowed to set and reinforce terms that dispute laws established by the Landlord and Tenant Board.
Once you’ve signed your lease, the next step is to prepare yourself for moving in. If you’re renting a condo or apartment, you’ll need to book the elevator, make a security deposit and also book yourself a moving van, if needed. Don’t be afraid to ask your landlord whether you can measure the doorframe of a place to ensure that any furniture you have will fit in. Once your stuff is moved into your new place, all you need to do is unpack and enjoy your new home.
Renting Toronto offers Toronto condos for rent in one easy place. We’ve been connecting landlords with tenants since 1999 and we have a great deal of experience in showing Toronto condos for rent on behalf of our clients.
As a rental agency in Toronto we provide qualified tenants for property owners in the Toronto condo market. The Toronto Condo rentals listings offered on our rental listing service website receive unmatched visibility for our owners and showcase the high quality rental properties they own throughout Toronto.