Renting in Toronto: 7 Things You Probably Didn’t Know
Written by: Condo Chicks
Posted on: August 31, 2016
When it comes to renting in Toronto, it helps to stay informed. There is a lot of advice out there for people looking to buy houses or condominiums. However, for people looking to sign for rentals in Toronto, there often isn’t as much help.
Some renters can be surprised by certain rules once they move into a rental, while others can end up losing out on their dream rentals by being unprepared. If renters are unaware of their rights, they can also be taken advantage of by landlords or management companies. Some landlords are even unaware of certain rules.
Here are seven things you probably didn’t know about the Toronto rental market.
- Selling a House or Condo with Tenants
- Pre-Paying Rent
- Entry by the Landlord
- No Notice Exception
- Lease Ending
If somebody wants to sell a house or a condo that is tenanted (i.e. has a unit that is being rented to someone), they are free to do so. However, whoever buys the house/condo also has to assume the renter’s lease. They cannot kick out the tenant, nor can they raise the rent or renegotiate the lease.
If your landlord demands a damage deposit, you should know that it is actually illegal for them to do so. Landlords cannot ask you for a damage deposit. However, they can ask for a refundable deposit for keys. Landlords are also not allowed to use your last month’s rent for damages.
Another thing that landlords are not allowed to do is ask for your rent to be paid in advance. You never have to pre-pay a year’s rent, and it’s actually against the law for your landlord to require that.
If your landlord needs to enter your unit, they need to give you 24 hours’ notice, unless there is an emergency situation. The 24 hours’ notice has to be written. However, assuming they do give you the proper notice, they have the right to enter your unit.
There is an exception to the above rule. If you have given notice that you are leaving, then landlords are allowed to enter your unit and show it to potential tenants without notice, as long as it’s between the hours of 8 a.m. and 8 p.m. Most landlords will notify their renters anyway, but this is a courtesy, not a requirement.
When your lease ends, you are allowed to continue renting the unit in the same conditions. You are also allowed to leave, but you must give 60 days’ notice in advance of termination. As well, once a lease ends and you have been renting for 12 months, your landlord is allowed to raise the rent.
One of the best ways to find a rental is by using a realtor. Realtors have access to a range of rental listings throughout the city. Even better, realtors are paid by landlords, so it doesn’t cost any money for renters to make use of these services.
Want to find the perfect rental in Toronto? Condo Chicks from Stomp Realty Inc. is a dedicated team of realtors behind some of the most prestigious and prominent condominium sales in the Greater Toronto Area. We take pride in negotiating on your behalf to represent your best interests. For more information, please call us at (416)-366-3033.