Toronto, and its surrounding areas, has become a prime location for millennials to work, live and play due to its multiculturalism, thriving culinary scene and ample career opportunities, among other enticing reasons.
With so many rentals in Toronto to choose from, searching for the right apartment can be overwhelming. Here are 5 ways to make the process much easier and protect you throughout your tenancy.
Set a budget
It’s no secret that the housing situation in Toronto can be pricey, especially if you are just starting out in your career. Set a budget and work within its limits to find the best apartment that fits your financial requirements. This may mean swapping that expensive rental in the downtown core for a more affordable option just outside the city. In other words, before committing to something, it’s a good idea to price out your options first.
Narrow it down to a few neighbourhoods
It can be stressful to try to choose between the thousands of rentals available across Toronto, so it’s probably best to narrow your search down to a few of your favorite areas. First, consider enlisting the help of a property management company like CLV Group to guide you with your search. You can often streamline the process and save time by searching for a list of available apartments in a particular area. Next, consider the neighbourhood’s atmosphere and be sure to factor in transit and amenities that are most important to you.
Pay attention to the details
During showings, it’s perfectly okay to check out the rental with a fine-tooth comb. Look inside the closets, make sure the refrigerator is running, test out the thermostat, open and close the windows and turn on the lights. You want to make sure everything is in proper working order before signing the lease agreement.
Ask for references
A good way to find out about your future home is through the internet or by word of mouth. Some complexes will have some reviews posted about them online, so do you research before you consider a place. If it’s your first time renting, turn to your friends or co-workers who may have more experience than you when it comes to renting in Toronto.
Be prepared to act quickly
The housing market in Toronto is in high demand and this includes the rental market. During showings, come prepared with the proper documents that may be required prior to signing a lease such as credit check information, references and a blank cheque for the security deposit.
Most importantly, when it comes to apartment hunting in Toronto, set realistic expectations. Don’t adhere to a certain criteria, because you may end up turning down a great place to call home. Happy hunting!