Tenant FAQ’s

Tenant FAQ’s

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

Landlord FAQ’s

Landlord FAQ’s

What information does Renting Toronto obtain get when they do a background check?

Our company is associated with a program that is considered “The rental housing industry’s credit bureau” which provides a tenant report, criminal report, full credit bureau report and a North America wide tenant database search on each applicant.

What is the standard lease length?

All our tenants sign a minimum one-year lease agreement. The option is always available for the tenant to sign a longer lease if the landlord agrees to the terms. All our leases have been written by a real estate professional and are in accordance with the landlord tenant act of Ontario.

How much can I increase the rent?

You can increase the rent if at least 12 months have passed since the date of the last rent increase or since the date the tenant moved into the rental unit. You must give the tenant the Notice of Rent Increase (N1 Form) at least 90 days before the date you will increase the tenant’s rent.

How do I give my tenant a N1 Form to increase the rent?

• You can hand it directly to the tenant or an adult in the rental unit

• Leave it in the tenants mailbox or where mail is ordinarily delivered

• Place it under the door of the rental unit or through a mail slot in the door

• Send it by fax to a fax machine where the tenant carries on business or to a fax machine in their home

• Send it by courier

• Send it by mail

How and when can I access my rental property for maintenance?

• A landlord may enter the property to inspect for maintenance problems or make repairs by giving the tenant at least 24Hrs written notice before the landlord plans to enter. The written notice must include;

• The reason why the landlord wishes to enter,

• The date the landlord will enter, and

• A time of entry between 8:00 am and 8:00 pm

 

 What is the formula for a rental increase?

Each year the Ontario government announces the province’s rent increase guideline for the following year. The rent increase guideline is the maximum amount by which a landlord can increase the rent for a current tenant without approval from the Landlord and Tenant Board.

Moving to Toronto

Moving to Toronto

Moving to Toronto? Here are some helpful tips for getting acclimatized.

The City of Toronto is booming. Canada’s financial and cultural capital recently became the fourth largest city in North America, and in February the Toronto census metropolitan area broke the 6-million person mark. Throw into the mix a thriving music and arts scene, an up and coming food culture, a potential 2024 Summer Olympics bid, and the fact that Toronto is one of the world’s most multi-cultural cities, and it’s safe to say that now is a prime time to consider a Toronto condo rental.

Whether you’re making the move for career purposes or are simply anxious to experience the excitement of a growing city, here are some helpful tips to make your search for a Toronto condo rental and your move to Toronto in general a positive experience.

Sun, snow, or rain, there’s always something to do

There’s no use denying it: Toronto winters are cold, though not as cold as in cities like Montreal, Ottawa, or Calgary. And while chattering teeth will come as no surprise to a Toronto newcomer, the summer heat might. Temperatures often rise above 30 degrees, giving residents a chance to enjoy Toronto’s many public beaches, pools, and parks. It doesn’t cool off much at night, so consider a unit with AC for your comfort.

Regardless of the weather, there are always fun and exciting ways to fill your days in Toronto. To name only a few, the city is home to the Toronto International Film Festival, a world renowned Pride Week, Caribana, Nuit Blanche, and the NXNE music festival.

Getting around

The Toronto Transit Commission – or TTC, colloquially – includes a system of streetcars, subways, and busses that can deliver you to nearly everywhere you’ll need to go. The majority of downtown Toronto condo rentals provide easy access to the TTC, making your commute to and from work a breeze. The subway provides a hassle free alternative to frustrating city driving, and will help you save on parking, which can be expensive.

Many downtown residents also choose walking or cycling as their transportation methods of choice. Downtown Toronto is becoming increasingly bike-friendly, and some brave commuters will cycle year-round. Downtown’s simple grid pattern makes finding your way around easy, and you can nearly always use the CN Tower as a compass pointing south.

The city is expensive, but…

Like all world-class cities, Toronto is expensive to live in. As is the case in much of Canada, house prices have soared over recent years, and the average price of a detached home is upwards of $1-million. However, Toronto condo rentals are a viable alternative to home ownership, one that young professionals and millennials are increasingly open to. Opting to rent over buying gives you more freedom to choose which neighbourhood you live in, will free up money to go out and enjoy the city’s amenities, and will give you the flexibility to move as you see fit.

At Renting Toronto, we’ve been in the business of placing qualified tenants in owners’ and landlords’ properties since 1999. There’s never been a better time to live in the city, so check out our extensive Toronto condo rental listings and feel free to contact us today.