condo toronto

10 tips for renting a condo in Toronto

Renting a condo in Toronto is no easy feat these days. If you manage to find a place you like within your price range, you pretty much have to make a decision immediately if you hope to snag the 650 square foot box of your dreams.

After consulting with a few real estate experts, they shared these tips for renting a condo in Toronto.

Know your budget

And stick to it. The downtown core can get super pricey, especially these days. Penelope Graham, the managing editor at Zoocasa, stresses that if you're willing to commute, you can usually find more affordable units outside of the most sought-after areas.

Do your research

Sure, you might have to make a decision on the fly, but before you head out on a viewing, look up the building. For instance, has it ever been on the Bed Bug Registry? Find out this information to avoid signing a lease in a condo with pest issues.

Rent control?

Check to see if the buildings you're looking at has rent control (i.e.built prior to October 31, 1991). These unicorn condos do exist, and while they might not be as shiny as some of the newer ones, you usually get more bang (square footage) for your buck and you won't face nasty rent increases.

Think fast

In this rental market, you don't have the luxury of time. If you like a place, you need to be ready to submit an application and all the required paper work as soon as possible.

Come prepared

Bring all your paper work with you when viewing a place, including your credit report, references and employment information. To be safe, make sure your references are ready and available to vouch for you whenever a landlord calls.

Bring your chequebook

Along with your paper work, come armed with your chequebook so you can provide first and last month's rent when submitting your application (if necessary).

Be flexible

To secure my own condo, I had to sign a lease for two weeks earlier than I had wanted to. But, in the end, that's how I got my place and it seemed like a better option than offering up more rent per month or potentially engaging in a bidding war.

Know your rights

Even though it might seem like it, you don't need to bend to your potential landlord's every whim. As a tenant, you have rights, so if something smells fishy, check out the Residential Tenancies Act.

Find out what's included

Don't assume that all condo units come with a parking spot, a locker and access to awesome amenities. And let's say your place does come with a parking spot and you don't drive, clarify whether or not you can rent it out to make some extra cash.

Use a realtor

If you're looking for a condo and not a purpose-built rental, consider working with a realtor. They have better access to what's on the market and if you get a unit listed on MLS, you don't even pay their commission.

Lead photo by

Lori Whelan

Join the conversation Load comments

Latest in City

This might be the most interesting street in Toronto

Officers laid 16 charges against non-essential businesses in Toronto this weekend

The TTC wants to test out bus platooning with driverless vehicles

Toronto's extended winter weather forecast just dropped and it's a doozy

A neighbourhood in Toronto has been taken over by giant inflatable snowmen

Nearly $50K in fines issued after police bust huge Mississauga house party

The history of the Hard Rock Cafe and the lost live music venues on Yonge Street

This is how much the Toronto skyline has changed since 1879