Ten projects that show Toronto condo development is still going strong

One Bloor West - photo credit Mizrahi

When plans for an 80-storey Toronto condo development at the southwest corner of Bloor and Yonge were unveiled earlier this year, Torontonians reacted with a predictable range of emotions, including deep worry and angst. Online commenters fretted not only about the physical appearance of the proposal – dramatically named ‘The One’ – but also the congestion it might bring to the neighbourhood, the shadow it would cast, the effect it might have on the bird population, and, of course, the shadowy, ubiquitous threat of “Manhattanization.”

While some reservations are understandable when confronted with a proposal of this stature, Globe and Mail columnist Marcus Gee wrote on March 18 that “Toronto has finally found the confidence to act like a big city,” perhaps suggesting that The One ought to be celebrated, if only for its ambition.

In that spirit, let’s have a look at nine more confident projects:

One Bloor East - Great Gulf Homes

One Bloor East

Directly across Yonge Street from the possible future location of The One sits One Bloor East, a 257-metre, 76-storey mixed use space which is nearing completion. Urban Toronto recently shared some images from the unfinished penthouse suites of the building, and the views are spectacular.

Mirvish+Gehry

 

Mirvish+Gehry

Before ‘The One,’ the Mirvish+Gehry was arguably the most controversial proposal in Toronto. The massive, two-building Toronto condo development (the taller of the two towers will reach over 300 metres) is likely to be located in the heart of downtown, at 260 King St West. The preservation of the Princess of Wales theatre is an important aspect of the proposal, as earlier plans included its demolition.

1 7 yonge photo via urban toronto

1-7 Yonge Street

At the foot of Yonge St, in a space currently dominated by the Toronto Star building and several parking lots, Pinnacle International is hoping to erect an impressive selection of six new buildings. The proposal would redefine two underused city blocks, and the tallest new building would be the third on this list to reach 300 metres.

10 york tridelTen York Street

Ten York is particularly interesting for its shape: the 67-storey, wedge-shaped building is located immediately south of the notorious Gardiner Expressway, and directly north of the Yonge-Bay-York off-ramp. While living between two separate portions of the Gardiner may not appeal to all, the building is indicative of the densification Toronto’s southern downtown core is experiencing.

themasseytower dot comMassey Tower

Expected to be completed next year, the 207-metre Massey Tower incorporates two historic bank buildings in its design. The Bank of Commerce on Yonge St just north of Queen will be restored and will serve as the new condo’s lobby.

385 yonge

385 Yonge St

The development proposed for 385 Yonge St may be the most shocking design proposal on this list. It includes two towers at 62 and 73 storeys, respectively, which will be joined by a large platform roughly two-thirds of the way up the shorter of the two. Situated just north of Yonge and Dundas Square, this Toronto condo development could be a true architectural landmark.

soleilEau du Soleil

Eau du Soleil is the furthest Toronto condo development from downtown on this list, located on Lake Shore Blvd West, on the Humber Bay Shores. The striking, two-tower design of the building will stand out among smaller, more conservative developments in the area.

88 Scott Concert properties

88 Scott Street

Currently under construction, 88 Scott St will top out at approximately 200 metres, and will feature a range of amenities to go along with an outstanding central location. The podium levels will include retail, restaurants, and commercial office spaces below 525 residential units.

33 Gerrard - Great Eagle Holdings33 Gerrard West

The 33 Gerrard West Redevelopment is the newest proposal on this list. Currently occupied by the Eaton Chelsea Hotel, the location could soon feature four new towers at heights of 80, 74, 50, and 46 storeys. For the moment, details on the proposal are scant, but early renderings suggest an international style-influenced design which would stand out beside glassy neighbours Aura and 385 Yonge.

Each imaginative Toronto condo development on this list will contribute to the growth and maturation of Ontario’s capital. Visit Renting Toronto today for listings of available condos for rent in Toronto. We’ve been in the business of connecting qualified tenants and reliable landlords since 1999.

Ontario’s A Place to Grow Act turns ten: what does the policy mean for the Toronto condo rentals market?

Photo credit: SimonP/Wikimedia Commons

Photo credit: SimonP/Wikimedia Commons

The term “urban sprawl” defines the grey, wandering expanse of commercial properties, strip malls, and suburbia that stretches endlessly from the heart of significant urban centres. The words have long been associated with environmental degradation, aesthetic and cultural emptiness, and urban planners’ bad dreams. In the Greater Toronto Area and surrounding Golden Horseshoe – Canada’s most populous region – creeping sprawl has consumed thousands of acres of prime farmland, raising widespread concern. As David Suzuki put it in a 2013 Toronto Star editorial: “continued sprawl threatens the health and well-being of our communities and the ecosystems that sustain us.”

In 2005, the Government of Ontario instituted the Places to Grow Act, a massive, multi-year program that “supports economic prosperity, protects the environment and helps communities achieve a high quality of life across the province,” according to official provincial literature. By creating a 7,300 square kilometre green belt around the Golden Horseshoe and implementing strict limitations to development outside existing municipal boundaries, the Ontario government sought to curtail unrestricted suburban expansion. In the past decade, Places to Grow has redefined the GTA housing market, and contributed to a steep rise in condo ownership and Toronto condo rentals.

In terms of pricing, the Canadian real estate market is divided into two categories: Toronto and Vancouver; and the rest. The price of a single family home in Vancouver is more than double the national average, and Toronto doesn’t lag far behind. In both cases, a primary pricing factor is land availability. Out west, the Pacific Ocean and Rocky Mountains restrict Vancouver’s ability to grow outwards, while Toronto is bounded to the south by Lake Ontario and to the north by the Places to Grow-instituted greenbelt.

“It’s essentially a grow up not out approach to the region’s future,” said RealNet Canada president George Carras in an article from the Business News Network. “If housing requirements over the next 20 years call for another 2.4 million people to move here, the kind of housing you’ll have is driven by the kind of housing you can create. You can expect more high-density, less low-density, and the price behaviour is going to vary between those two because of supply and demand.”

At the end of 2014, just 7,200 single detached homes were under construction in the GTA, compared to 57,000 condo units. As a result, the February 2015 price gap between new houses and new condos reached $300,000. This is good news if you’re looking into Toronto condo rentals, but significantly less positive if you’re planning to purchase a house. Climbing prices have made traditional bedroom communities like Markham and Vaughan largely unaffordable to first time home-buyers, who are looking as far afield as Kitchener and Barrie in pursuit of a front yard.

The detached housing market is expected to be put under further pressure as millennials continue to age into prime candidates for suburban migration. http://rentingtoronto.com/ontarios-a-place-to-grow-act-turns-ten-what-does-the-policy-mean-for-the-toronto-condo-rentals-market/ http://rentingtoronto.com/ontarios-a-place-to-grow-act-turns-ten-what-does-the-policy-mean-for-the-toronto-condo-rentals-market/ http://rentingtoronto.com/ontarios-a-place-to-grow-act-turns-ten-what-does-the-policy-mean-for-the-toronto-condo-rentals-market/ http://rentingtoronto.com/ontarios-a-place-to-grow-act-turns-ten-what-does-the-policy-mean-for-the-toronto-condo-rentals-market/In the next ten years, the widespread availability of Toronto condo rentals (25,571 units were completed in the GTA in 2014) will push the housing price gap to an expected $750,000 to $800,000.

“Condos will continue to play an important role in the GTA property market for three reasons,” explained Carras in a Toronto Star op-ed. “They represent the primary source of affordable home ownership options; they’re still a key source of rental-unit supply; and they represent a proven property-investment opportunity.”

Photo credit: Rick Harris/Flickr

Photo credit: Rick Harris/Flickr

A Place to Grow might not bode well for developers or prospective buyers of detached family homes, but the environmental realities of unchecked urban expansion makes the legislation nothing less than a necessity. Although the act is up for review in 2016, its forward looking statement peers ahead to 2041, calling for “compact development that makes the best use of our limited land supply and offers a diversity of choices for living, working and enjoying culture.” As such, the Golden Horseshoe’s residential housing market is likely to become increasingly competitive and expensive for the foreseeable future, while Toronto condo rentals will continue to offer a convenient, affordable alternative to home ownership.

If you’re interested in Toronto condo rentals, or are seeking to rent out your condo unit, contact Renting Toronto today. Our company has been in the business of connecting great tenants with competent, qualified landlords since 1999.

Toronto condo rentals, weather, and transportation: everything you need to know about moving to the city

Moving to Toronto - Aug 18 - cred Lord of the Wings _ FlickrThe City of Toronto is booming. Canada’s financial and cultural capital recently became the fourth largest city in North America, and in February the Toronto census metropolitan area broke the 6-million person mark. Throw into the mix a thriving music and arts scene, an up and coming food culture, a successful 2015 PanAm Games, and the fact that Toronto is one of the world’s most multi-cultural cities, and it’s safe to say that now is a prime time to consider a Toronto condo rental.

Whether you’re making the move for career purposes or are simply anxious to experience the excitement of a growing city, here are some helpful tips to make your search for a Toronto condo rental and your move to Toronto in general a positive experience.

Sun, snow, or rain, there’s always something to do

There’s no use denying it: Toronto winters are cold, though not as cold as in cities like Montreal, Ottawa, or Calgary. And while chattering teeth will come as no surprise to a Toronto newcomer, the summer heat might. Temperatures often rise above 30 degrees, giving residents a chance to enjoy the city’s many public beaches, pools, and parks. It doesn’t cool off much at night, so consider a unit with AC for your comfort.

Regardless of the weather, there are always fun and exciting ways to fill your days in Toronto. To name only a few, the city is home to the Toronto International Film Festival (TIFF), a world renowned Pride Week, Caribana, Nuit Blanche, and the NXNE music festival.

Getting around

The Toronto Transit Commission – or TTC, colloquially – includes a system of streetcars, subways, and busses that can deliver you to nearly everywhere you’ll need to go. The majority of downtown Toronto condo rentals provide easy access to the TTC, making your commute to and from work a breeze. AutoShare, Zipcar, and Bike Share are all convenient and affordable ways to get around town as well.

Many downtown residents also choose walking or cycling as their transportation methods of choice. http://rentingtoronto.com/toronto-condo-rentals-weather-and-transportation-everything-you-need-to-know-about-moving-to-the-city/ http://rentingtoronto.com/toronto-condo-rentals-weather-and-transportation-everything-you-need-to-know-about-moving-to-the-city/ http://rentingtoronto.com/toronto-condo-rentals-weather-and-transportation-everything-you-need-to-know-about-moving-to-the-city/ http://rentingtoronto.com/toronto-condo-rentals-weather-and-transportation-everything-you-need-to-know-about-moving-to-the-city/Downtown Toronto is becoming increasingly bike-friendly, and some brave commuters will cycle year-round. The city’s simple grid pattern makes finding your way around easy, and you can nearly always use the CN Tower as a compass pointing south.

The city is expensive, but…

Like all world-class cities, Toronto is expensive to live in. As is the case in much of Canada, housing prices have soared over recent years, and the average price of a detached home is upwards of $1-million. However, Toronto condo rentals are a viable alternative to home ownership, one that young professionals and millennials are increasingly open to. Opting to rent over buying gives you more freedom to choose which neighbourhood you live in, will free up money to go out and enjoy the city’s amenities, and will give you the flexibility to move as you see fit.

At Renting Toronto, we’ve been in the business of placing qualified tenants in owners’ and landlords’ properties since 1999. There’s never been a better time to live in the city, so check out our extensive Toronto condo rental listings and feel free to contact us today.

Why a Toronto condo rental may be a better choice than home ownership for millennials

In a recent study released by the Federal Reserve Bank of St. Louis, The Demographics of Wealth, the U.S. Federal Reserve suggested that young Americans may be better off delaying their first home purchase. The report, which is based on data collected from 40,000 households interviewed between 1989 and 2013, says that “buying a home too early is putting young families on a trajectory to be poorer than all previous generations.”

In an August 7 article by the Financial Post’s Jason Heath, the author argues that the reserve’s position applies equally to young Canadians. “Homes cost more in Canada (averaging $453,560 nationally vs approximately $311,619 in the U.S.), and household debt is higher here as well,” Heath writes. http://rentingtoronto.com/why-a-toronto-condo-rental-may-be-a-better-choice-than-home-ownership-for-millennials/ http://rentingtoronto.com/why-a-toronto-condo-rental-may-be-a-better-choice-than-home-ownership-for-millennials/“Canadian millennials should pay close attention to the advice being doled out by the U.S. central bank.”

These figures reinforce the financial soundness of young peoples’ decision to maintain an apartment or condo rental long past the age when their parents moved into the buyers’ market. With millennials making less money than previous generations, putting together a down payment is no easy task, and high mortgages make it difficult to save for retirement. ip info . A reasonable apartment or condo rental, coupled with a dedicated savings plan and wise investing, may make more fiscal sense than pursuing the traditional path to home ownership.

As the Federal Reserve report puts it, millennials ought to “delay purchase of a home with its attendant debt burden until it (is) possible to buy a house that (does) not make the family’s balance sheet dangerously undiversified and highly leveraged.”

Per a September 2014 Conference Board of Canada report, the current income gap between younger and older workers has expanded to a point where young working Canadians are poised to be the first generation worse off than their parents. The average disposable income of 50- to 54-year-olds is now 64 per cent higher than Canadians aged 25 to 29. Meanwhile, the average price of a detached home in Toronto reached $1.052 million in June 2015, making home ownership an economically unsound proposition for many young Torontonians.

To be sure, home ownership has become a societal norm in Canada, and many young Canadians are drawn to the idea. For those able to safely make the investment, home ownership can be an excellent forced savings plan. But for a generation struggling to find a financial footing, premature home ownership poses substantial risks.

In Toronto, a condo rental offers a wider range of locations to choose from (most millennials won’t be buying a house in West Queen West any time soon, but relatively affordable rentals are plentiful), and allows the tenant to avoid costly expenses like renovations and home insurance on top of a mortgage. An apartment or condo rental also means less obligation and more freedom to relocate should your career, family, relationship, or itch to travel necessitate a hiatus from Toronto.

Renting Toronto has been in the business of placing competent, qualified tenants in owners’ and landlords’ properties since 1999. Whether you’re looking for a condo rental in a great Toronto location, or have a property you would like to rent out, our full-time, dedicated agents will find the best fit for you.

How to have a smooth moving day

It can be a long process to find a place you want to move into, undergo reference checks and credit checks and sign a lease. If you’ve done all these steps, then everything is ready for you to move in. All you need to do is move your life into the new space, which can be a challenge in itself.

Moving can be a hectic process, but there are some things you can do to ensure everything runs smoothly and that you have a good moving day.

For starters, decide on a date on when you want to move. If you’re moving from rental property to another, make sure you give your previous landlord sufficient notice. Some renters can afford to pay rent at both places for one month, which makes the move less hectic, but also more costly. Whatever you decide, both your previous landlord and your new landlord need to know when you will be moving out or in.

If you are moving from one condo to another, don’t forget to book the elevator in each building. You will need to provide each building with a security deposit, which is usually a bank draft for $500. This is to ensure that the movers do not damage the elevator or hallways of the building while moving out your property. Once your move is done you get your deposit back.

Keep in mind that some buildings don’t allow moving in or out on Sundays. This can be difficult, especially if the month’s end is on a Sunday and you need to move out earlier. Once you have a date booked, if you are hiring a moving truck or a moving company, book them as soon as possible.

A few weeks before you start moving, it’s important for you start arranging your belongings and prepping boxes ahead of time. Separate your items between what you plan to keep and what you can get rid of, whether you donate it or toss it. Also, label your boxes to make it easier to find everything.

While looking at the items you plan to keep, determine what needs to be taken part before it’s moved and get that done earlier so you’re not trying to take a part your bookshelf on the big day.

Meanwhile, don’t forget to change the address for any bills, banking or credit card statements, magazine subscriptions or important documents. Even after you move, either set a forwarding address for the leftover mail to be sent out or notify your previous landlord that you may drop by on occasion to pick up any mail that continues to be sent to that address. You may also want/need to purchase tenants’ insurance and if you’re doing so, contact your insurance company ahead of time to notify them of the change in residence.

Also a day before the move, confirm with the moving company the time they’re expected to arrive and the location to avoid any confusion or delays. You should also have the keys or have an appointment set up with your new landlord to receive them on the day of your move.

On the day of the move, you should have a bag/box packed with all essential, which should be clearly labelled. http://rentingtoronto.com/how-to-have-a-smooth-moving-day/ http://rentingtoronto.com/how-to-have-a-smooth-moving-day/ http://rentingtoronto.com/how-to-have-a-smooth-moving-day/If you’re moving out from another rental property, make sure the fridge is clean and any other leftover food items are either packed or tossed. Once all the boxes are moved, inspect the space to ensure you have everything.

Once you arrive at the new location, unload all your belongings and settle into your new home!

Renting Toronto has been in the business of placing competent, qualified tenants in owners and landlord’s properties since 1999. Our company has full time dedicated agents renting properties on behalf of owners and owners have the final say on all prospective tenants. Our website receives thousands of hits monthly and as a Homeowner or Landlord you can display your rental property on our website at a very low cost compared to our competitors!

How to handle issues with your landlord

When you rent from a landlord, it’s always in both of your best interests to have a good relationship. Unfortunately, sometimes this doesn’t always happen.

Renters should be aware of their rights as a tenant and how to appropriately handle any issue to avoid any legal repercussions.

Does my landlord have the right to visit?

Renters may not realize it, but landlords have various situations where they’re allowed to enter the property, with or without notice. It’s in both people’s best interests to know ahead of time. In Ontario, landlords may enter without notice due to an emergency, if the tenant decides to let them in, if it was decided that the landlord will need to regularly visit to clean the rental unit and if both the tenant and landlord have agreed to end their rental agreement, the landlord can show the space to other prospective tenants without notice.

Besides these scenarios, landlords are expected to give renters at least 24 hours written notice before stopping by, which should include details such as why the landlord needs to stop by and when the landlord plans to visit. While a landlord is allowed to stop by, landlords are expected to limit the number of times they visit.

In Ontario, tenants may deny the landlord entry if it doesn’t follow the Residential Tenancies Act, but it being an inconvenient time isn’t a good reason to.

What issues might you encounter?

When you rent a property, it’s expected that both you and the landlord will come to an agreement into who will handle property maintenance, such as snow shovelling or mowing the lawn, and that certain rules may be set.

If you’re renting an apartment, it’s expected that you’re living in a manner that follows the building’s rules, such as avoiding excessive noise at night or not smoking indoors if it’s against the building’s rules. If you live in a way that violates the city’s bylaws, the police can be called which may lead to warnings or fines.

The landlord has the right to ask a tenant to either clean up their space, if it’s extremely dirty, or make repairs to the unit, if they damaged it, through either a verbal or written request. http://rentingtoronto.com/how-to-handle-issues-with-your-landlord/ http://rentingtoronto.com/how-to-handle-issues-with-your-landlord/If you don’t comply, the landlord may take their issue up with the rental authority. If you feel that you’ve been wrongfully accused of a situation, you may need to gather proof and witnesses to show otherwise.

Meanwhile, landlords are expected to complete emergency repairs in a timely manner, but tenants must be aware that they’re not allowed to withhold rent as leverage since that could lead to your eviction.

 

How to rent an apartment with bad credit

Many landlords conduct credit checks on potential tenants since it gives them an idea of how likely they are to pay their rent on time based on how well they manage paying their other debts.

But if you made some financial mistakes in the past, you may find that it will come back to haunt you when it comes time to find a place to rent. Most derogatory information will remain on your credit report for about six years, which is why you need to manage your credit well, avoid paying your bills late or defaulting on any loans.

If it’s unfortunately already happened, be aware that you may face a tougher time when it comes to finding a place to live and give yourself extra time to find a place to call home.

Before your start your apartment search, the first step is to check your credit report. This way you won’t be surprised by any unexpected issues. This is important since your bank or another service provider may have made a mistake in processing your bills or your identity may have been stolen and you’re left on the hook. If this is the case, get in touch with the financial institution and the credit reporting bureaus to resolve the issue and ensure that a note is made about the problem if it isn’t cleared up right away.

If your credit rating is due to a financial mistake on your own accord, the best thing you can do when applying to move out is to be upfront and honest about the issue. Get your previous landlord as a reference to vouch for you and you might consider attaching a letter or a receipt from your previous landlord or an explanation letter about the situation.

If you’re able to demonstrate good proof of employment, solid income and good references, landlords may not solely base their decision on the results of your credit report.

Landlords are legally allowed to reject potential tenants based on their credit reports and your best bet is not to try and hide your previous mistakes, but rather show recent evidence that you have paid your bills or rent on time.

A landlord may choose to accept you as a tenant, but they may request you to have a guarantor or a co-signer for your rental application. While you will be the person renting the property, your guarantor will be responsible for covering the rent if you miss a payment. Make sure you talk to close friends or family before submitting their name in your application.

Another way to entice a landlord to rent to you is offering them a higher security deposit to assuage their fears, offer to sign a shorter term lease so you’re able to prove yourself first or offer to move in right away.

It may take longer, but you should be able to find a place to rent, though you may not have as many choices. http://rentingtoronto.com/how-to-rent-an-apartment-with-bad-credit/ http://rentingtoronto.com/how-to-rent-an-apartment-with-bad-credit/Don’t be deterred by the situation and continue to monitor your credit report accordingly to prevent any future issues from putting a damper in your renting plans.

Renting Toronto will always conduct credit checks when consider renters for condos for rent in Toronto. Our company has been in the business of placing competent, qualified tenants in owners and landlord’s properties since 1999 and owners have the final say on all prospective tenants.

How to find a condo to rent?

If you’re looking to find an apartment or a condo to rent, there are many ways you can go about finding a place to live.

There are rental magazines or postings on bulletin boards, but the best place to look is online. Visiting rental listing websites will let you sort property options based on their amenities, the number of occupants and the location. This way you’re not browsing through rental options that are nowhere near your ideal living location and it’s not as daunting since you can easily narrow down your choices.

Also, it’s easy to put up and remove a listing online, which means when searching, you’re accessing the most up-to-date listings out there.

Another important aspect of these websites is that they typically show images of the property, which gives renters a glimpse into how the space looks. Many renters judge a rental property by the pictures before they go ahead and set up a viewing appointment.

But just because you can browse listings online, doesn’t mean you shouldn’t visit the place. Online listings should help you limit your choices, but seeing that the property matches your expectations is important too.

A viewing appointment lets you verify the details that’s mentioned on the listing and it also gives you a chance to chat with the landlord and ask any questions you may have, such as what utility payments and maintenance will you be responsible for. If possible, see if you can get references from any past renters to hear about their experiences, before agreeing to move in.

If everything is to your liking, make sure to get in touch with the landlord or the property management company right away since some listings may be in demand.

Once you’ve mentioned your interest in renting the property, your landlord will likely request proof of employment, a credit check, content insurance and any past references before approving you as a renter. http://rentingtoronto.com/how-to-find-a-condo-to-rent/ http://rentingtoronto.com/how-to-find-a-condo-to-rent/Have these ready to ahead of time to ensure a quick and smooth transaction. They may also request you to sign a lease agreement, which if you do, read the terms of your stay to ensure you’re aware of any costs and responsibilities associated with renting the property.

Once that’s squared away, if needed, give appropriate notice to your current landlord and prepare for your move.

If you’re a first-time renter in Toronto, these commonly asked Renter FAQs will help you find the right place to live. Visit Renting Toronto for listings on available places for rent in Toronto. Our company has been in the business of placing competent, qualified tenants in owners and landlord’s properties since 1999 and owners have the final say on all prospective tenants.

Should you get tenant insurance?

During your rental search, you may come across a landlord who requires you to show proof of tenant insurance or content insurance before they’re willing to rent you the condo.

If you’re new to renting a home, you may not be familiar with tenant insurance and how it protects you. A homeowner is required to pay for home insurance when they own a home, but this only covers the property you live in and not your personal items or whether you cause an accident. If the place you’re renting is broken into or there’s a fire that leaves your possessions damaged, tenant insurance will cover the cost of it.

When you rent a place, you become legally responsible for any damage you cause to the property and also if someone is hurt while they visit the property. For example, if someone is injured in the place you’re renting through a slip and fall, your tenant insurance can help protect you in a liability lawsuit if you are held responsible for a victim’s injuries.

Tenant insurance can protect your items in the event of fire or lightning damage, windstorm or hailstorm, frozen pipes that burst and theft, but it won’t help with business pursuits, professional services or bodily injury or property damage that is intended by the person who’s insured.

There are two types of tenant insurance you can purchase: all risk and named perils. If you purchase all risk tenant insurance, this will cover all your items, except for those you choose to exclude, during any event, while if you purchase named perils, this insures your items in the event of specific perils that you name.

There are also two ways that insurance companies can cover the cost of your items, actual cash value or replacement cost. The insurer will determine whether an item should be repaired or replaced.

With basic tenant insurance, if someone files a claim against you and succeeds, you will be covered for up to $1 million that you need to pay out, which also includes the cost of hiring a lawyer to defend you. Tenants can choose to increase this amount to $2 million and there’s an option to pay for additional living expense coverage, which if the place you’re renting needs to be repaired, it will cover the cost of moving, hotels or meals out during the time of the displacement, within a limit. This helps you handle any unexpected costs you’re faced with if you’re unable to live in your rental property.

Tenants can have peace of mind that insurance will help cover the cost of their items in the event of an unfortunate incident. Keep your home inventory up to date and don’t be afraid to shop around for a tenant’s insurance policy that suits your needs. http://rentingtoronto.com/should-you-get-tenant-insurance/ http://rentingtoronto.com/should-you-get-tenant-insurance/ http://rentingtoronto.com/should-you-get-tenant-insurance/Carefully read through your policy to understand what you’re entitled to since some items can lower the amount you may be paid. Understand which items have limitations or exclusions placed on them in your insurance policy.

Visit Renting Toronto for listings on available places for rent in Toronto. Before looking for a place to live, first have a good idea on what you want to look for. Our company has been in the business of placing competent, qualified tenants in owners and landlord’s properties since 1999 and owners have the final say on all prospective tenants.

What questions should tenants ask landlords?

If you’re about to move out from your parent’s home, it’s an exciting time. While it’s tempting to decide on the first place that looks good, there’s more you need to consider besides the initial showing.

During your showing, you’ll want to check that the space is safe for you to live in and whether it suits your needs and the people you plan to live with. There are also many details you should ask your landlord before coming to a decision.

Utilities – In your home, you use water, electricity and heat in your day-to-day activities. You should always ask the landlord what type of utility is used, such as gas or oil, along with the average monthly cost of the unit. If you’re renting a condo, sometimes utilities are covered in the condo fees the landlord pays, which means it could be covered in the cost of your rent. Also, if you’re sharing a space with other renters, you’ll want to know how these costs will be split. Some living arrangements also come with Internet and cable, which may or may not be included in your monthly rent.

Lease agreement – In Ontario, landlords and tenants aren’t required by law to have a written lease agreement, but this could protect you in the long run if you are ever involved in a dispute with your landlord. Ensure that your lease agreement covers all these terms about your stay and you might want a lawyer to look it over before signing.

Restrictions – Some landlords may be very particular about the space they’re renting out. For example, some landlords won’t allow you to paint the walls or hang paintings since you will need to put nails into their walls. Also, you may not be allowed to own pets or smoke and it’s important to establish the rules before signing a lease.

Current tenants – There’s no harm in learning more about the previous tenants. If it’s due to a dispute with the landlord or another building issue, this might make you think twice about living there.

Neighbourhood – You’re likely searching for a place that’s near to either your workplace or school, but you’ll also want to consider your lifestyle when choosing a place to live. If you enjoy eating out, are there a lot of restaurants in the area or if you don’t own a car, are you near transit. Also, the neighbourhood’s safety may also play into your decision.

Amenities – Some rental listings include fully furnished properties, while others provide no furniture at all. Depending on your living situation, this may affect what you bring. Also, if you’re looking at condos or apartments, you’ll want to know if there are any extra perks, such as a gym, a bbq area or a party room. If you own a car, you’ll want to know if the property comes with parking and if not, where you could park your car, along with where any guests can park.

Property maintenance – If you’re looking to rent a house, ask who will be responsible for chores such as mowing the lawn or shovelling the snow. Also, inquire about how minor or major repairs should be handled and where can you reach the landlord if you have any issues or questions.

While the answer to these questions may take you longer to find a place to rent, you’ll be glad you did when it saves you time, money and hassle in the long run.

Renting Toronto has been in the business of placing competent, qualified tenants in owners and landlord’s properties since 1999. Our company has full time dedicated agents renting properties on behalf of owners and owners have the final say on all prospective tenants. Our website receives thousands of hits monthly and as a Homeowner or Landlord you can display your rental property on our website at a very low cost compared to our competitors!

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