Student apartment rentals in Toronto
February 21, 2023 10:26 AM Subscribe
Is Sept 1 a realistic move-in date for student rentals or do most leases start May 1? This is for downtown or midtown Toronto.
My kid who attends university in downtown Toronto has spent her first year in a dorm. She has a couple friends with whom she would like to rent a home/apartment in her second year. They would all prefer to move back home for the summer (May-Aug) to save money on rent, and then lease an apartment from Sept 1. Is this realistic, or will their options be too limited? They are concerned that most places will be rented out in spring (May 1) and if they start looking in the summer, they will be left scrambling. Can anyone provide any guidance? Any other tips about renting in Toronto are also welcome as this is all new to us.
My kid who attends university in downtown Toronto has spent her first year in a dorm. She has a couple friends with whom she would like to rent a home/apartment in her second year. They would all prefer to move back home for the summer (May-Aug) to save money on rent, and then lease an apartment from Sept 1. Is this realistic, or will their options be too limited? They are concerned that most places will be rented out in spring (May 1) and if they start looking in the summer, they will be left scrambling. Can anyone provide any guidance? Any other tips about renting in Toronto are also welcome as this is all new to us.
I rented in Kingston as a student and my only option was a full year lease. I've been renting in Toronto for over 10 years and it is very competitive (the only time I didn't have to go into an apartment viewing ready to sign a lease that day if I liked it, was during late 2020). So I agree it would be hard to be able to find a school year rental every year. In Kingston, students would sublet the rentals furnished for the summer (has its own risks, but is an option).
posted by devonia at 11:23 AM on February 21, 2023 [2 favorites]
posted by devonia at 11:23 AM on February 21, 2023 [2 favorites]
Toronto is a much bigger rental market than Kingston, and less affected by the pattern of the university year.
That said, the rental market in Toronto is seriously brutal for everyone. If I were them, I would be looking for anything starting May 1, or June, July, August or Sept. 1 - and hope to find something for one of these months that is within their budget. Paying extra months of rent is something they may just need to swallow to find anything, and could work out in the better if they find something a bit cheaper per month.
I also have no idea how the costs of dorm life compares to apartments, but given the local market, would it be worth it just staying in the residence?
posted by jb at 1:39 PM on February 21, 2023 [2 favorites]
That said, the rental market in Toronto is seriously brutal for everyone. If I were them, I would be looking for anything starting May 1, or June, July, August or Sept. 1 - and hope to find something for one of these months that is within their budget. Paying extra months of rent is something they may just need to swallow to find anything, and could work out in the better if they find something a bit cheaper per month.
I also have no idea how the costs of dorm life compares to apartments, but given the local market, would it be worth it just staying in the residence?
posted by jb at 1:39 PM on February 21, 2023 [2 favorites]
Any other tips about renting in Toronto are also welcome as this is all new to us.
Other than to avoid it if you can...
But more helpfully:
- use every avenue possible to look for housing - university boards, ViewIt.ca, Realtor.ca
- consider engaging a real estate agent: they know the market better and have notices available houses or units that the public doesn't, and normally its the landlord who ends up paying their commission
- don't rule out entire houses: 3-4 bedroom houses may rent for about the same price per bedroom as 2-3 bedroom apartments, depending on their condition and/or location
finally: look early and look often, and be flexible on start dates. I don't think that most Toronto housing goes on a basic May 1-April 31 schedule; lots of people will be giving notice and leaving housing throughout June, July and August because there are so many renters in Toronto who are not students. They might not find something if they wait for Sept 1, but if they look for places starting in the summer they might luck out.
posted by jb at 1:50 PM on February 21, 2023 [1 favorite]
Other than to avoid it if you can...
But more helpfully:
- use every avenue possible to look for housing - university boards, ViewIt.ca, Realtor.ca
- consider engaging a real estate agent: they know the market better and have notices available houses or units that the public doesn't, and normally its the landlord who ends up paying their commission
- don't rule out entire houses: 3-4 bedroom houses may rent for about the same price per bedroom as 2-3 bedroom apartments, depending on their condition and/or location
finally: look early and look often, and be flexible on start dates. I don't think that most Toronto housing goes on a basic May 1-April 31 schedule; lots of people will be giving notice and leaving housing throughout June, July and August because there are so many renters in Toronto who are not students. They might not find something if they wait for Sept 1, but if they look for places starting in the summer they might luck out.
posted by jb at 1:50 PM on February 21, 2023 [1 favorite]
Have they checked out reddit for threads on this topic? I would look there for more location-specific advice.
Leases are almost always 12 months so they can rent May-May or try to find one that's September - September in a few months, but either way if they want to stay living together and not move at some point over the next few years they will run into the issue of paying through the summer when they might not all want to stay there. That was my experience as a student in a different city in Ontairo albeit the rents were much more reasonable back then.
I would assume it's pretty competitive no matter when they're looking if they want to live downtown near campus. They can log in here if they go to U of T and see how many listings are up already, it's still fairly early so it's good they're considering their options right now. I would look there to start because it's presumably student-friendly places with experienced landlords.
They should familiarize themselves with the landlord-tenant act, and ideally will rent from an experienced landlord who understands the act. I have heard of more amateur/new landlords in Ontario having weird expectations that aren't legal, like extra deposits, restrictions on pets, things like that. I have heard of fees just to apply to places, hopefully they won't encounter that. Be very wary of any situation where the place isn't available to view or anyone is requesting money up front, make sure you see the unit!
If a unit is needing to have anything fixed or replaced insist on having it done prior to signing the lease. Whatever the unit comes with (e.g. fridge, stove, washer, dryer) is what the landlord will be legally required to maintain or replace, so again check out that sort of thing when you walk through, make sure everything works (toilets, showers, washer/dryer, fans, lights, etc.). Look at the outlets around the house, older houses can be tricky.
Ask about parking, ask about utilities (what is extra, what's included), ask about air conditioning (is there central air, if not can they put window units in), and who the people above/below are because noise issues can be a real nuisance and landlords don't often want to get involved.
Ask if the landlord provides maintenance to the sidewalk and lawn if applicable or if it's expected that they will do it.
Come tax time rent receipts are needed, some landlords but not all provide them monthly but they should provide one at the end of the year or end of the lease. When they're moving they need to give two month's notice, if they want to stay another year the landlord may increase the rent by a small percent, this is normal, there are guidelines in place though so if it's a huge jump that's a sign something is wrong. The landlord is supposed to provide them with the interest received on the last month's rent deposit when they move out but in my experience you have to remind them to do that.
In terms of finding rentals my experience has been that you need to be prepared to move fairly quickly if you find a good place, try to schedule a few viewings within the same day or two and be prepared to hand over first and last when you sign the lease. Landlords want to know you'll be able to pay rent on time and not destroy the place. In my experience it wasn't unusal for a landlord to want to have a parent to sign on as a guarantor to ensure that they'd get paid.
If they fill out one of these before they go see places they will be a step ahead, and it's good to get familiar with what will be asked on applications/have the information ready ahead of time. Don't provide the SIN imo that is a massive over-reach which sadly seems to be the norm now in this more competitive world.
posted by lafemma at 1:57 PM on February 21, 2023 [4 favorites]
Leases are almost always 12 months so they can rent May-May or try to find one that's September - September in a few months, but either way if they want to stay living together and not move at some point over the next few years they will run into the issue of paying through the summer when they might not all want to stay there. That was my experience as a student in a different city in Ontairo albeit the rents were much more reasonable back then.
I would assume it's pretty competitive no matter when they're looking if they want to live downtown near campus. They can log in here if they go to U of T and see how many listings are up already, it's still fairly early so it's good they're considering their options right now. I would look there to start because it's presumably student-friendly places with experienced landlords.
They should familiarize themselves with the landlord-tenant act, and ideally will rent from an experienced landlord who understands the act. I have heard of more amateur/new landlords in Ontario having weird expectations that aren't legal, like extra deposits, restrictions on pets, things like that. I have heard of fees just to apply to places, hopefully they won't encounter that. Be very wary of any situation where the place isn't available to view or anyone is requesting money up front, make sure you see the unit!
If a unit is needing to have anything fixed or replaced insist on having it done prior to signing the lease. Whatever the unit comes with (e.g. fridge, stove, washer, dryer) is what the landlord will be legally required to maintain or replace, so again check out that sort of thing when you walk through, make sure everything works (toilets, showers, washer/dryer, fans, lights, etc.). Look at the outlets around the house, older houses can be tricky.
Ask about parking, ask about utilities (what is extra, what's included), ask about air conditioning (is there central air, if not can they put window units in), and who the people above/below are because noise issues can be a real nuisance and landlords don't often want to get involved.
Ask if the landlord provides maintenance to the sidewalk and lawn if applicable or if it's expected that they will do it.
Come tax time rent receipts are needed, some landlords but not all provide them monthly but they should provide one at the end of the year or end of the lease. When they're moving they need to give two month's notice, if they want to stay another year the landlord may increase the rent by a small percent, this is normal, there are guidelines in place though so if it's a huge jump that's a sign something is wrong. The landlord is supposed to provide them with the interest received on the last month's rent deposit when they move out but in my experience you have to remind them to do that.
In terms of finding rentals my experience has been that you need to be prepared to move fairly quickly if you find a good place, try to schedule a few viewings within the same day or two and be prepared to hand over first and last when you sign the lease. Landlords want to know you'll be able to pay rent on time and not destroy the place. In my experience it wasn't unusal for a landlord to want to have a parent to sign on as a guarantor to ensure that they'd get paid.
If they fill out one of these before they go see places they will be a step ahead, and it's good to get familiar with what will be asked on applications/have the information ready ahead of time. Don't provide the SIN imo that is a massive over-reach which sadly seems to be the norm now in this more competitive world.
posted by lafemma at 1:57 PM on February 21, 2023 [4 favorites]
Another thing to ask/look at is who/how the heating/cooling is controlled - there are guidelines in place preventing landlords from letting things get too hot or too cold but ideally they would have access to the thermostat themselves, those are little things you don't think of in the moment that can make a big difference in your quality of life when it's very hot or cold.
posted by lafemma at 2:02 PM on February 21, 2023 [3 favorites]
posted by lafemma at 2:02 PM on February 21, 2023 [3 favorites]
Adding on to the advice above with my longterm toronto renter knowledge 1) using a realtor, agree with the above that this helps, as the renter you pay nothing to do this, the owner pays the realtor for finding them a tenant.
2) Rent control, if they choose a place and think they'll stay for more than a year (can't find a partial year rental), try to rent a place that was occupied as a rental prior to November 15, 2018. All of these properties fall under rent control and the landlord cannot increase the rent over the amount on the LTB website the next year. link.
3) Due to large year over year rent increases in Toronto (20% on average last year, might not be as aggressive next year), it could be as or more cost effective as moving out for the summer each year to lock into a full year rental that is subject to rent control (also save costs on moving in and out twice a year)
posted by devonia at 3:03 PM on February 21, 2023 [1 favorite]
2) Rent control, if they choose a place and think they'll stay for more than a year (can't find a partial year rental), try to rent a place that was occupied as a rental prior to November 15, 2018. All of these properties fall under rent control and the landlord cannot increase the rent over the amount on the LTB website the next year. link.
3) Due to large year over year rent increases in Toronto (20% on average last year, might not be as aggressive next year), it could be as or more cost effective as moving out for the summer each year to lock into a full year rental that is subject to rent control (also save costs on moving in and out twice a year)
posted by devonia at 3:03 PM on February 21, 2023 [1 favorite]
I agree with those above saying the rental market in Toronto is really really bad, especially at the low end. Expect landlords who will constantly try to break the law because it is almost impossible to punish them for anything. Also expect that any place you do get, the landlord will immediately start pushing you out so they can reset the rent higher for another tenant.
posted by sindark at 7:16 PM on February 21, 2023 [1 favorite]
posted by sindark at 7:16 PM on February 21, 2023 [1 favorite]
« Older What specific UK accent does this chicken have? | Help me find a one-way car rental from San... Newer »
This thread is closed to new comments.
posted by Kitteh at 11:03 AM on February 21, 2023