Complete Guide to Finding a Rental Apartment in Toronto
Sunday Dec 04th, 2022
Complete Guide to Finding a Rental Apartment in Toronto
If you’ve landed on this page, you most likely searched “how to find rental apartments in Toronto” on Google. Toronto Condo Team has the best tips to help you find the best rental apartments in the city!
Toronto has been voted one of the most livable cities in the world, and indeed, there are many things to do here that you won’t find in other places. The city has hundreds of different neighbourhoods, each with its own personality and culture. So, it’s important to follow these steps carefully.
Because many people are looking for apartments in Toronto at any given time, Toronto landlords and property managers have very specific instructions on how to apply. What you write and how you say it can make all the difference between getting the property or being ignored by the landlord. If you want to find a rental apartment in Toronto, consider these following steps and tips.
Ways to find a rental apartment in Toronto
To have the best chances of securing your dream rental unit, there are a few easy ways to find a rental apartment in Toronto.
Use the rental search engine.
Finding a rental search engine is one of the first things you'll want to do when looking for apartments in Toronto. There are many free options, but we recommend using a real estate website. With this website, you can search by specific areas and filters like "pet friendly" or "furnished."
Using a real estate website is a great way to find apartments in Toronto because it has so many filters that allow you to narrow down your search based on what's important.
Look for promotions
The best way to find a rental apartment is by looking at the promotions that landlords are currently running. Promotions can range from discounts on rent, free rent for a certain number of months, or even free furniture packages that come with renting an apartment. It's important not to overlook these deals because they can help you save money and get into an apartment more quickly than if you were just browsing around.
Use a real estate agent.
Asking a real estate agent can help you find a rental apartment in Toronto that suits your needs. The agent is an expert who knows what's available and has access to listings and information not available online. They can also guide you through the paperwork process, including credit checks, references, income verification, etc.
Join Facebook groups
Joining Facebook groups is a great way of finding out what's happening in your city and getting advice from locals. It's also a great way to make some friends. They can help you find an apartment if they know how.
Ask friends/colleagues who live in the city.
A good way to find housing quickly is by asking friends or colleagues in the city. Maybe your friends know any apartment who has moved recently.
How To Find a Perfect Rental Apartment?
Toronto is a very large city, and finding a rental apartment can be daunting. There are many things to consider when looking for an apartment, and the following steps will help make your search go more smoothly.
#1 Do Research
Research what you want and need from an apartment, such as its location, size, number of bedrooms, etc. Narrow down your search by looking at different neighbourhoods in Toronto that match what you're looking for. This way, you can filter out apartments that don't meet your requirements.
If you're planning to move into a new apartment, you'll also want to consider transportation options and nearby grocery stores, schools, and libraries. These are a few daily requirements that we need to focus on.
#2 Understand Your Budget
Before you start looking at apartments, decide how much money you are willing to spend on rent each month. In general, it's better to have a larger budget so that you have room to negotiate with the landlord. The downside is that most landlords won't give discounts if they feel they're already giving you a deal.
#3 Understand your requirements
Know what you require in terms of amenities before seeing the place. For example, some people prefer having access to laundry facilities, while others might not care about them.
#4 Must know your rights and obligations
Nowadays, renting in Toronto and the rest of Ontario is not so difficult. When searching for an apartment, ensure you know your rights. Under Ontario law,
- Landlords cannot refuse to rent their property because of race or skin colour or where someone was born.
- Since April 30, 2018, landlords have been legally required to provide tenants with a standardized lease.
- A landlord can increase the rent once every 12 months by up to the Consumer Price Index (CPI).
You can look over this standardized lease yourself and see if it changes any of the parts that are a point of concern.
#5 Must have your document always prepared
It is important to prepare yourself before going through the process of finding an apartment. Make sure your documentation is ready and close by, as it is required for most applications.
- Having a large enough down payment will allow the landlord to see that you are serious and committed.
- Provide landlords with names, phone numbers, and email addresses of people who can vouch for you
- You'll need to show you are employed or financially viable to rent in Toronto. Make sure you have bank statements, pay stubs, tax returns, or other income proofs.
- Landlords usually require this before you sign a lease.
Preparing these documents before viewing potential apartments is important. So you're ready to sign if you find a lease you want to take advantage of immediately,
How Much Does it Cost to Rent an Apartment in Toronto?
Renting an apartment in Toronto is one of the most expensive things to do in Canada. As per Toronto Real Estate Board (TREBB), the average rent of an apartment in Toronto is $1,600.00 per month. Basically, the price depends on the location and facility you want.
- Apartment for Bachelor $1,574- $1,578
- 1-BHK apartment: $1,970 - $1,985
- 2-BHK apartment: $2,694 - $2,785
- 3-BHK apartment: $3,578 - $3,792
It is best to live with roommates or family members to save money rather than live alone. Even so, there are ways to save money while still living comfortably and closer to where you work and study.
10 Websites to find a rental in Toronto
Toronto is one of the most expensive rental markets in Canada. There are still plenty of apartments to find, but if you're looking for an affordable apartment in downtown Toronto. You'll have to budget up to $2,000 per month. Rental websites are an excellent resource for finding properties and information about the neighbourhoods you're interested in. Here's a list of 10 websites to help you find a rental in Toronto:
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#2 Padmapper rental website
Padmapper is one of the best websites to find rental apartments. It provides an interactive map of rentals in Toronto, as well as details about each apartment (such as location, price, and availability). With Padmapper, it’s easy to find which buildings have vacancies and which don’t by clicking on individual markers on the map.
Apartments range from studios for under $1,000 per month to three-bedroom homes for over $5,000 per month.
#3 Zumper rental website
Zumper is one of the best websites for finding rental apartments in Toronto. It has apartments to rent in all areas of Toronto, including downtown and uptown neighbourhoods. The website has filters that allow you to find the perfect apartment at the right price. Zumper's map feature is also helpful in locating a place near work or school.
If you're searching for specifics, this is a site worth browsing through. Rentals.ca has an interactive map that allows users to search by neighbourhood or by type of dwelling unit available. They also offer listings on condo rentals and house rentals.
The site is easy to navigate, offers helpful tips for renting apartments and information on insurance and security deposits.
In order to find rental apartments in Toronto, you can visit the Realtor.ca With so many great options, the website will help you find exactly what you need in terms of location, budget, and more. The site also has plenty of tips and tricks for finding your ideal place. Whether you're looking for an apartment near public transportation or somewhere with laundry facilities, this is the place to start.
The map on Rentcompass is updated daily with new property listings and comes with an easy-to-use search function to help you find your perfect rental apartment in Toronto. You can also browse the website's rental apartments by area, building, price or number of bedrooms. Rental guides also provide helpful advice for tenants and landlords, such as how to find the right tenant or what questions you should ask before signing a lease agreement.
The Condos.ca website is a great place to start your search for rental apartments in Toronto. The site is designed to be user-friendly, with lots of information on the right-hand side of the screen, including how many bedrooms you want and what neighbourhoods you are looking in. The website also offers multiple search options so you can find something in your price range. You can narrow down your search by listing what size apartment you want, the number of bedrooms, the type of building, age restrictions, or location.
For people looking to find rental apartments in Toronto, Zillow is an excellent resource. It provides information about the apartment building's amenities and floor plan, as well as reviews from previous tenants who have lived in the apartment. Zillow also includes additional details like how much it costs to heat and cool the space, which can help renters figure out whether or not they can afford it.
#9 Toronto Home Zone
The Toronto Home Zone website also has useful information about renting in Toronto. This website includes the process of signing contracts, deposits, and security. It's easy to navigate and provides quick access to important information about living in the city. There is a separate Facebook page for those looking to rent or find roommates on Toronto Home Zone, formerly associated with Bunz, a popular buy-and-sell/trading site.
RentSeeker is another apartment-finding website for those who want everything done for them. Rentseeker offers a variety of search options and is perfect if you're looking for something more specific. It allows you to filter by price range or city, among other factors like bedroom number and dog friendliness.
Rentseeker uses a map-based search engine where users can enter their desired neighbourhood or district, as well as their desired number of bedrooms and price range.
In conclusion, Toronto's rental market is expanding rapidly, and with the good comes the bad. It can be difficult to find a place that will suit your needs without breaking the bank or constantly being on the hunt for new listings. It's time you considered moving into the world of Toronto apartment rentals. Whether you’re moving to the city or just looking to change up your living situation, it’s important to find the right palace. There are various tips to find the right place in the right neighbourhood at the right price with so many options out there.