CHAPTER 2: FINDING A PLACE TO RENT

Once you have narrowed down the type of home you are looking to rent, you should start to focus on what neighbourhood you want to live in. Is proximity to good schools important to you? What about access to public transit? Do you like to live in residential areas with lots of greenspaces or busy areas with bustling cafes and restaurants?

The neighbourhood you choose to live in has a significant impact on your lifestyle and will affect your quality of life. It’s a good idea to scope out potential neighbourhoods and do some preliminary research beforehand. This will not only help you pick a neighbourhood that is well suited to your personality, lifestyle, and needs, but will also help you narrow down and focus your search for the perfect home.

Once you have determined the neighbourhood you want to live in, think about the size of the home you want (of course, remember to be realistic in terms of your budget and what you can afford). You should consider things like whether you want a guest bedroom or if you’ll need additional room for a growing family in the future.

DIY vs. Agent

There are many online resources that you can use to find rental properties if you decide to go the do-it-yourself route. While sites like Craigslist and Kijiji are popular for finding rental homes, it’s best to exercise caution as they can contain fraudulent listings. Never give a deposit before physically seeing the apartment and confirming that the person you’re talking to does, in fact, own the apartment.

Use the services of an expert, free of charge.

Of course, you can always work with a licensed real estate professional to help you find your ideal rental property. With thousands of listings available, a real estate professional can help you find great properties and neighbourhoods, as well as help you negotiate the price and terms of your lease. These services are provided free of charge to you as a tenant. The landlord pays the commission to the real estate agent.

Whichever way you choose to find a home, remember you can view current listings, access exclusive market data, and view neighbourhood demographics on the Nest & Castle website.

When to look

Most rental units come on the market sixty (60) days before they are available to move in. You should be ready to move in within these timelines to have the best chance at securing a rental home.

Sometimes properties will be listed for immediate occupancy. In cases like this, it is important to act fast because often these properties will receive multiple offers and will subsequently become leased and taken off the market. If you are looking for immediate occupancy, it is a good idea to have all the things you need to make a successful rental application in order (deposits, employment confirmation, references, credit report, etc.) so that you can act quickly when these properties become available.

Tips and Tricks

• Don’t judge a home by the furniture, decorations, or paint. These things are easy to fix. Focus on things that cannot be changed, such as the floorplan layout, amount of natural lighting, etc.
• Be flexible. In major urban centres such as Toronto, it’s quite competitive to secure a rental unit. You need to keep an open mind and be prepared to compromise. Sometimes it may not be possible to get everything on that wish list!
• Be ready to make a quick decision. Sometimes that great unit you saw may not be available the next day if you take the night to think about it.