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Renting a home

Finding a place to rent Add to ...

Finding the right place can take time and effort. Start by figuring out how much rent you can afford to pay every month.

1. Figure out your priorities

Ask yourself:

  1. How much rent can you afford?

  2. Where do you want to live?

  3. Will you need access to public transit?

  4. Will you have roommates?

  5. How many bedrooms and bathrooms?

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  6. Do you need other amenities?

  7. Furnished or unfurnished?

  8. How long do you plan to live there?

2. Browse ads

Look at a variety of rental ads by searching online rental websites, or in your local newspapers. You can also check out average rents in Ontario.

3. Go to viewings

Do your own inspections. Ask these questions:

  1. Is it safe? Is the fire escape accessible? Are locks on the door and windows secure? Is the neighbourhood safe?

  2. Is it in a good location? How far is it from public transit and parking? Is it on a busy street? What businesses and services are nearby?

  3. Is everything working? Do all the appliances work? Does the plumbing, heat and air conditioning work? Are the hot and cold water working? Does the water run clear and taste OK? Will the apartment be cleaned before you move in?

Use this detailed worksheet to evaluate each place you look at.

Learn more about how to look for a rental property.

4. Choose the best option

Choose the apartment or house that fits your budget and best meets your priorities.

Content in this section is provided in partnership with Investor Education Fund, a non-profit organization founded and supported by the Ontario Securities Commission that provides unbiased and independent financial tools to help Canadians make better money decisions. To find out more, go to: GetSmarterAboutMoney.ca

Follow us on Twitter: @GlobeInvestor

 

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