7 Things to look for when renting an apartment?
Tuesday Oct 18th, 2022
7 Things to look for when renting an apartment?
Some individuals believe that renting is simply a waste of money while for others it might make sense to rent. Renting might be a wise choice provided you are judicious in your decisions and aware of early symptoms. Some people are content to live in any available location as long as it is within their financial means. But wise renters won't just give in.
Even if it's on a lease, it will still be your house. It can be intimidating to go through the entire process, but remember that anything worthwhile is worth the effort. Here are a few things to consider when looking for the ideal apartment to rent.
1. Deposits & Refundable Fees
A security deposit and other fees are in addition to the monthly or yearly rent when renting an apartment or a condo. However, according to some province statutes, the owners may not request it. Furthermore, some landlords demand a non-refundable security deposit from tenants who intend to move in.
Certainly, ensure you are informed of these expenses before signing the lease for the property. According to Tribunal Ontario the rent deposit cannot equal more than one month’s rent or the rent for one rental period, whichever is less. Visit the Tribunal Ontario website to learn more.
2. Cost of Different Utilities
An apartment won't be a standalone unit. Indeed, this is particularly more important if you intend to move into an apartment or condominium in Ontario. Also, keep in mind that there will be similar housing units present in the area. As a result, such communities also include several amenities and utilities.
You should ascertain whether the additional fees will be charged before renting the apartment. In other words, varied maintenance expenditures are associated with various utilities and amenities.
Check to see if the owner will be covering them or if the contract mandates that you are responsible for them. It's also important to consider other services like water, electricity, etc. Knowing about the insurance that has been taken out for the unit is also crucial.
3. Status of Safety Equipments
The most important factor to remember while renting an apartment is scanning the safety equipment. You want to be sure that the safety features, such as smoke detectors and carbon monoxide detectors, are in good working order so that you can be warned of the threat. You should urge the landlord to ensure these devices are in functioning order before you move in if you find that a smoke detector is not lit up.
4. Renting an Apartment in Ontario: The Application Process
Most of you normally end up presuming and speculating about the application process and the selection criteria. Your presumptions could be incorrect, or they could not. Renting an apartment, though, is a significant step. Therefore, it is usually advisable to speak with the condo owner before renting it. In this manner, you will receive precise and firm responses in less time. Obtain the screening criteria up front by asking the landlord. In this manner, you can appropriately set your expectations.
Inquire about any additional application fees that need to be paid. Ask the owner what criteria they will use to judge you if they want a credit report to prove your financial stability.
5. Liability of Upkeep and Repair
Costs for upkeep and repairs might also be fairly significant. When negotiating to rent the unit, ask this question upfront. If you don't obtain a definitive response, it means your owner isn't fussy about it. As a result, he or she might disregard your future demands for the same. The expense of property upkeep and repairs should ideally be covered by the landlord. Your understanding of the upkeep and repairs performed on the property should also be improved by the dwelling unit's current state.
6. Available Facilities
Some landlords include standard items like furniture, interior decor, kitchen appliances, parking, etc., together with the unit. However, some don't supply anything, leaving the tenant with a bare apartment. Prior to renting the apartment, be sure to understand what you will receive. Some landlords increase the rent by the cost of specific facilities. Find out what all things the rental price covers. Indeed, this will help to get a better idea of whether the apartment is pricey or not.
7. Pets allowed or not
Pets are a significant issue, much as where to park cars. Finding a rental unit that accepts pets is not sufficient. Knowing how much time you can spend with them is also crucial. For instance, must they always be on a leash? Can you take them for a stroll through parks and on sidewalks?
Renting an Apartment in Ontario: Tips & Advice
Outline the things you need and want.
This helps you focus your search. Incorporate the amount of space needed, the distance between home and work, the availability of transportation, and the location of the gym, shopping, and other leisure activities.
Explore the location at various hours.
Take a look at the apartment throughout the week with the owner or owner's agent to give yourself more time for queries. Try to visit the apartment after hours and at different times of the day. Rush hour, after work, and on the weekends may all be very different times to visit.
Deal directly with the owner if at all feasible.
Will he or she be responsive and fix everything that fails right away? To understand more, conduct an online search. Does the management or landlord reside in the area? How eager is the landlord to maintain the condo's condition?
Conduct a personal survey.
Ask around to learn more about the area and the people living near the apartment. This aids in determining the level of neighbourhood security and stability.
Since it is still a long-term commitment, renting an apartment should be treated seriously. Yes, it must meet both your financial needs and all of your comfort criteria. Ensure that both the appearance and the sensation are correct. Think carefully about your decisions and stick to them. Happy apartment searching!