5 Practical Tips For Newcomers Renting In Toronto!

Toronto is a popular destination for newcomers, but the rental process can be difficult. To save time and energy, here are five practical rental tips based on our experience servicing tens of thousands of tenants in Toronto. Supporting documents such as credit history and proof of income are requested. Alternative options such as bank statements are not accepted. As a newcomer to Ontario, it is important to provide a local guarantor or prepaid rents as an alternative to Canadian credit history and income.

Guarantors must be local for the ease of landlords pursuing claims, while prepaid rents can be offered beyond the first and last month's rent deposit. Corporate property managers may also require a local guarantor for newcomers, as they have a more structured rental application process. In Toronto, it is important to have a solid Canadian credit history, a local guarantor, and funds to pay for several months of rent upfront. Instead, many newcomers start searching on their own with online rental platforms like Tolobi, Kijiji, Zumper, PadMapper, Facebook Marketplace, Rentals.ca, and Realtor.ca. It is important to time your move and budget for utilities, tenant insurance, key deposits, and moving expenses.

Additionally, it is important to never transfer money to another party without having an agreement in writing. Toronto is a diverse city of more than 150 neighbourhoods, and the pricing and types of rental properties in each neighbourhood varies. Houses and townhomes provide more space than condos and apartments, while condos and apartments come with luxury finishes and amenities. Rooming houses come with communal kitchens and living rooms, while furnished rentals come with all utilities and furniture included. Unit layouts are one-bedroom and two-bedrooms units, while studios don't come with a bedroom.