How long of a lease do I sign?

The minimum term is one year however you can sign longer if the owner agrees to the term.

What do I need to provide when applying for a rental property?

You will be required to fill out an application on the property giving as much detail about yourself so that Renting Toronto can perform a credit check. You will also need to provide a letter of employment and a copy of a recent pay stub.

When signing the lease, what do I need to bring with me?

You will be asked to bring 2 bank drafts and 10 post-dated cheques when signing a one year lease agreement. One is payable to “Renting Toronto.” This is applied to your first months rent (You will get a receipt for this). The second bank draft is payable to the owner and is applied to the last months rent and you will get a receipt for this as well. Bank drafts also have a carbon copy from the bank, which acts as a receipt.

Who pays for the Rental Agents fees?

The landlord pays our placement fee out of your first months rent.

Who do I call if I have trouble with an appliance or something else in my rental?

You will call the landlord directly. Some owners have insurance on appliances or they are covered under warranty. If you feel you would like to discuss an issue with Renting Toronto first prior to speaking with the Landlord, we are here to help.

How do I legally notify the Landlord that I want to end my lease at the end of the term?

You need to give the landlord 60 days notice and send an N9 Form that can be found at the Landlord and Tenant Boards website: www.ltb.gov.on.ca - If your initial lease expires on August 31st you would need to send the landlord an N9 Form on or before July 3rd. The same form is given if you are on a month-to-month lease.

Do I need to get my own insurance for my rental property?

You do need to get your own contents insurance when living in a rental unit. This covers any of your personal items in the rental property. The owner has separate insurance that covers the structure itself. The cost is a low monthly payment, which can now be purchased at some banks. The owner will ask for a copy of your policy as they will need to provide it to there own insurance company.

Can I extend my lease?

You can extend your lease for another year. Just ask the landlord 60 days prior to the end of your initial lease term. Renting Toronto provides a free updated lease agreement to the landlord to make the transaction easier. You will just need to provide 12 more post-dated cheques and bump your initial pre-paid last month to the end of the new tenancy agreement. If the rent is increased you will need to provide the difference in the rental deposit to the landlord.

What does a month-to-month lease mean?

After you have completed your initial one-year lease agreement you automatically enter into a month-to-month agreement. If you don’t send the landlord a N9 Form 60 days prior to the end of your initial lease you automatically enter into a month-to-month agreement. Once you are in a month-to-month agreement you are still required to give 60 days notice and file an N9 Form to end your tenancy agreement. You are still bound by the initial agreement you signed even if you have been on a month-to-month situation for years.

Who governs the Landlord Tenant act in Ontario?

The Landlord & Tenant Board sets the rules that are applied to any residential tenancy agreement. You can find more information on there website at www.ltb.gov.on.ca or call them for free consultation at 416-645-8080