You have decided it is time to venture out into the Toronto market and rent a space of your own. With the current market conditions, vacancy rates are at an all time low. Renting a property has never been more difficult. Not to worry though, I have put together guidelines on renting the right place for you.
What Type Of Property Should You Rent?
In Toronto, there a few options for renting a home. Condos are the most common form of rental property. You can also rent townhomes, detached homes and in apartment buildings. There are pros and cons for each option.
Where to Search for a Rental
Not only do you have to worry about selling your home, but you also have to think about where you are looking to buy. Determining a selling price is also important, but accepting an offer slightly below your asking price often leads to a quick sale. Your knowledgeable agent will ensure you are satisfied with the result of the sale.
What You Will Need
In Toronto, the vacancy rates are so low that there is a lot of competition when renting properties. With that being said, being prepared is vital to acquiring the rental you want. When working with a Realtor, they will prepare all of the documentation you need as well as provide the added benefit of presenting you as a qualified tenant to landlords. You will need the following items when applying for rentals:
- Employment Letter
- Credit Report
- List of References
- First and Last months rent
Ready To Rent?
Working with a Realtor to find your rental will make the process much more smooth. First off, it's FREE to you. All of the paperwork and lease agreements will be done for you and all of the appointments will be booked for you. All you have to do is provide me with some details about yourself and what your ideal rental would be - and i'll do the rest. Contact me to today to book a consult.
Average 1 Bedroom Rent in Toronto
Vacancy Rate in Toronto