Let’s be honest — finding a rental in Toronto isn’t easy. With low vacancy rates in the city, especially downtown, the cost of rent is high. However, for many people, renting is still the best option.
Whether you’re planning to stay for a shorter or unpredictable amount of time, or you aren’t able to buy a home right now, renting might fit best with your current needs. Still, it can be difficult knowing where and how to start looking.
If you’re about to rent your next home, here are some things to consider...
1. Research and Weigh Your Options
Calculate your budget and start looking at what it can get you — and where. You might decide to rent a smaller space if it means living in your preferred neighbourhood (for example, renting a 1+1 condo instead of a full 2-bedroom can help you save).
Or, you might choose a place with a bit more of a commute in exchange for a lower monthly cost. With the TTC, you can easily get to many great neighbourhoods that you might have overlooked.
Where to start looking: While many people find rentals on Kijiji, also try View It, Walk Score, and PadMapper.
2. Be Honest About Your Needs
What do you care more about — location, size, amenities, or the age of the building? Which do you care less about? Think about what you’re willing to compromise on if needed.
Once you know your budget and priorities, finding somewhere you can afford and enjoy living becomes much easier.
After researching what your money can get you in different areas, narrow down your search to the property type you want (e.g. 1+1 condo apartment) and neighbourhoods you can afford (e.g. Liberty Village, West Queen West, or Fort York).
Just like that — your search feels much less overwhelming!
3. Think About Working With a Realtor
Good news: Landlords pay for the Realtor’s services — not you.
If you contact a Realtor, they can help connect you with quality rental properties in your price range and handle the paperwork at no cost to you.
Keep in mind, landlords who list through Realtors often ask for higher rents — they want to attract reliable tenants. If you’re looking at downtown condos or higher-end rentals, this could be a great option for you.
4. Compare Houses and Apartments
If you want to live in a more family-friendly neighbourhood, renting a floor or portion of a house might suit your needs best.
If you prefer an active downtown lifestyle or being close to work, an apartment or condo could be ideal.
Some houses near universities are also great options for students, with multiple bedrooms available for short-term rentals.
Compare the price points and what’s included — neighbourhood, square footage, and amenities all play a role in helping you decide.
5. Know Your Rights
Ontario’s Standard Lease Agreement makes it easier to understand what rights and responsibilities you and your landlord have.
This contract outlines important details — like ending a lease, pets, maintenance, and more. It expands on the Residential Tenancies Act to make everything clearer for both parties.
You can read more about it on the Ontario government website.
6. Get Your Documents in Order
You’ll likely need to provide a few key documents to a potential landlord, including:
Have these ready and neatly organized for every rental you’re interested in. It’s a great way to start off on the right foot — and it helps you feel more confident knowing you’re prepared when a landlord asks.
7. Learn About the Building
If you’re moving into an apartment or condo, look up the building’s reputation online — or ask your Realtor.
Is the management company reliable? Are there issues with pests or mold? Online reviews and resident comments can be eye-opening.
Doing your homework here can save you future headaches.
8. Do Your Own Assessment
When visiting potential rentals, walk through the property and pay attention to details:
Are the common areas clean?
Are amenities maintained?
Do the walls, floors, and baseboards look cared for?
If you see someone who lives there, don’t be afraid to ask about their experience! You can also call building management with questions — their responsiveness and attitude say a lot about how the property is managed.
Final Thoughts
When you’re ready to start your search, doing your research and preparing for today’s rental market will help you get a great head start.
Want to talk to a Realtor? Contact us to discuss how we help match tenants with great properties in Toronto.
See all Toronto listings and search by neighbourhood, including condos for rent.
