Renting a house in Toronto means you have 3 different options: Apartment Buildings, Houses and Condos. Let’s take a look at which one suits you the best and how and where to look for a rental space in Toronto.
Apartment Buildings: –
These are typically owned and managed by one company (versus a variety of individual owners). In Toronto, apartment buildings aren’t as copious as you might think. However, compared to the number of new apartment buildings built over the last few years, we’ve seen an increase in rental buildings under construction.
With increasing number of people looking to live in Toronto and the demand for rental space, many house owners have considered the idea of converting a part of their home into an apartment or two. Many of these are basement apartments and some houses have been converted into several apartments. When it comes to renting a space, renting a house is the best opportunity as it has a residential neighborhood, with private outdoor space and if you’re lucky, and sometimes you even get parking.
Toronto has a substantial number of Condos and many of them are owned by investors who rent them out. Renting a condo gives you the privilege to live in some of the best locations in the city with amenities like gyms, pools and party rooms. Despite having to directly rent it from the suite owner, you’ll be required to abide by the condominium’s rule.
There are two main ways to look for rentals in Toronto is: on your own, or with the help of a real estate agent. There are numerous online resources and licensed realtors who can help you with the process.
Pro Tip: –
Properties that get listed with real estate agents tend to have higher price and therefore, they may not be able to help you if your budget is less than $1500 a month.