Often, we are asked if we can help our clients, or their friends or relatives find a rental. So here is our ultimate guide to finding a rental.
Best rental websites in Toronto
Some rentals are listed privately and do not show up on Realtor.ca. Toronto has a huge variety of rental sites and is blessed with some brand new startups that only cater to Toronto. Below you’ll find them in no order what so ever, because they are all great in their own regard.
rentals.ca – rentals.ca is a fantastic source of rentals in the city, but they also have a lot of helpful rental reports that can help you learn about the market you’re going to be competing in.
Viewit.ca – where you will find apartments, condos, and some houses. This website is very popular among rental buildings, which can feature large suites, at more affordable prices. Rental building managers are notorious for leaving old listings online, generating some frustration for renters who think they found the one.
Padmapper.com – is an interactive map populated with listings. Renters can sign up for email notifications when new listings come up that match their search criteria.
Apartmint.ca – is just like Padmapper, but branded in mint green and white.
Casalova.ca – Casalova is a relatively new (2016) end-to-end rental site where tenants can find a property, book an appointment, and make an application to rent all online. It’s streamlining a process that usually requires printers and scanners and brings it all into the digital age.
Rentsta.com – is the Tinder of rentals. Renters view listings one at a time and they can either like or dislike the rental. You can also message the landlord on the spot.
Torontorentals.com – much like Padmapper, but less sleek and more 2000-esque.
Rentcompass.com/Toronto – much like Padmapper, but also less sleek.
www.Kijiji.ca – is an online classified where consumers can find anything from cars to rental properties.
Craigslist.ca – is also an online classified that caters to consumers looking for anything from cars to rental properties.
Rentmoola is a startup that is making paying rent rewarding. The payment processing company offers landlords flexibility in accepting payments, and offers tenants greater flexibility for paying rent, including paying rent with credit, debit, or your chequing account. The company also offers perks and benefits for being a loyal customer, as well as giveaways like trips.
what is the average Toronto rent?
Depending where you want to live, average Toronto rent can be very expensive.
As of 2018/19:
- A 500-600 sq ft apartment in a the city core is close to $2100/monthly
- The a house in the city is around $3300-4500
- In the suburbs, Apartments are around $1800-2000
- In Mississauga Oakville and Burlington, Townhouses are around $2000-2400/monthly
- In Mississauga, Oakville, and Burlington, detached homes for rent are usually around $2300-4000/monthly
If you’re on a budget, you can find larger, cheaper apartment buildings and complexes for around 25% less. These options are what you’ll find on viewit.ca. If you’re looking for a family home, your best bet would be to contact a realtor, like us 🙂
Timing is everything when it comes to finding a rental. Since rentals turn over often, and tenants only give 60 days notice from the day rent is due, landlords are usually looking for a tenant to take possession within 60 days or less. So if you are looking for a rental 6 months in advanced you will have very slim pickings.
July and August are the worst months to find a rental, because procrastinating students are looking for last minute accommodations. If you are shopping during July and August be patient and have your rental application, rent deposit, credit score, and employment letter ready!
Rentals close to transit
If you’re renting in Toronto, you know the importance of living near the TTC. Our harsh winters, and sweltering hot summers can make living far away from transit a pain. Below is a map of the Subway route, click the picture to go to the TTC website for bus and streetcar routes.
The paperwork to rent a property is more daunting than the paperwork to buy a property. The landlord is expecting you to produce:
- An Employment Letter
- A Rental Application
- A Credit Score
- And, The Actual Contract
- 2 months deposit to count towards your first and last month of rent
Keep in mind that
- As of April 2017, tenants have been given more rights, and are better protected from Landlords who were arbitrarily increasing rent, and also evicting tenants so they could raise the rent. This has increased the cost of rentals across the city, but it also gives tenants peace of mind that the rate they are paying is going to remain in line with inflation.
- The landlord must give you 24 hours notice before entering the unit to do maintenance, or show to a prospective buyer or seller, unless there is an emergency.
- To evict you, the landlord must give you 60 days notice from the 1st of the month.
- If the landlord sells the unit while your lease is still in effect, the new owners must respect the lease and allow you to reside at the premise at the rent you currently pay until the end of the lease.
How does a realtor make a difference
The main upside of using a Realtor is peace of mind and ease of the transaction. A professional will help you prepare the paperwork, and present you in the best light to a prospective landlord. You only have one chance in a competitive market to make a good impression on your landlord, so be prepared.