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Toronto Condo Rental Information

Considering a move with us?

Below is a list of items you need to have prepared before we begin the process.

Why work with us?

Just in case you need a reason or two…

We provide up-to-date access to Toronto’s MLS inventory.

We organize showings and save you time.

We manage negotiations and tell your story.

Our services are of FREE to Tenants! We get paid by the Landlord.

Below is a checklist of important information and documentation required when submitting an offer to lease.

Given the high demand for rentals in Toronto, once available on the market, most suites are usually leased quickly and it is very important to have the following documentation prepared prior to starting your search.

Although the documentation listed below is required and must be provided by prospective Tenants and their Guarantors/Indemnifiers.  There are exceptions to those requirements with certain applications, so please feel free to contact me regarding your situation and I will suggest a path forward.

Rental Application

It is mandatory that all applicants fill out a rental application with all supporting documentation.  Click here to download our rental application.

Rental Terms

In the Toronto rental market, there is typically a minimum 1 year lease term, unless otherwise specified.

Credit Report

A full and current credit report with score is manditory with every application.  Credit reports that are a month or more old are considered out of date.  To purchase or order your current credit report, please visit Equifax or Transunion websites and follow their prompts.

Current Letter of Employment

A current letter of employment, no older than one monthis mandatory in most cases.  If your job is new, you will be required to provide an acceptance letter and/or signed full contract

Recent Paystubs

Although not required with every rental application, be prepared with your more recent two paystubs.

Reference Letters

Reference letters and contacts can be from your employer, past landlords, colleagues and friends are preferred.

Photo ID / Social Insurance Number

One piece of government issued photo ID and your Social iInsurance Number (SIN) are required with all applications.Valid Drivers Licenses, Passports, Ontario Photo ID cards and Canadian Perminenant Residency cards are all acceptable.

Rental Deposit

A deposit consisting of the first and last month’s rent is required with every offer to lease.  This deposit should be provided in certified cheque or bank draft form and within 24 hours of an acceptance.

Other Possible Deposits

Additional refundable deposits may be requested by the Landlord, such as for keys and FOBs.  Being refundable deposits, you are entitled to be refunded the deposit upon return of keys and/or FOBs in workable condition.

Tenant Liability Insurance

It is mandatory with all leases that Tenant’s purchase contents and liability insurance through their bank or local insurance provider.  A typical tenants insurance premium will cost between $120-$280 and proof of purchase must be provided prior to key exchange.

Other Costs Associated with a Rental

Other costs associated with a rental may include various utility accounts (Hydro, Water and Gas) and is dependant on the building you are moving into.

Know Tenant and Landlord RIghts

Before officially entering into a tenancy with any Landlord, Tenants should educate themselves to their rights and responsibilities afforded to them under the Residential Tenancies Act.  Click here for frequently asked questions.

What to expect.

Before embarking on your search for a condo rental in Central and Downtown Toronto it is important to align your expectations with the marketplace.  Below is a breakdown of what the Downtown markets have to offer:

Bachelors starting at:
$1400 per month
$1720 Average

One Bedrooms starting at:
$1700 per month
$2135 Average

Two Bedrooms starting at:
$2200 per month
$3095 Average

Three + Bedrooms starting at:
$2897 per month
$4552 Average

*Please note that prices may not include the various utilities, locker and parking that are provided at additional cost.

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