While most of our time as Toronto real estate agents is spent buying and selling houses and condos, we also help people find rentals in Toronto. Here are 10 things you probably didn’t know about renting in Toronto:
- Rent Control The Ontario rent increase guideline for 2020 is 2.2%. In 2019, it was 1.8%
- Selling a Tenanted Condo or House Owners may sell a tenanted property BUT if there is a valid lease in place, the new Buyer must assume the lease and tenant (meaning they can’t increase your rent when they take possession or kick you out). If the new owner wants to move into the unit you occupy, they may only do so at the end of your lease. We wrote more about selling a tenanted property here.
- Pets The Residential Tenancies Act allows tenants to have pets – even if a tenant signed a lease saying they wouldn’t have pets (technically, landlords can’t ask tenants to contract out of their basic rights). BUT: landlords can refuse to rent to you if you have a pet – they just can’t kick you out for having one once you’ve become a tenant. Some condos restrict pets – and the Condominium Act generally takes precedence over the Residential Tenancies Act (meaning the condo rules are more important than the tenancy rules).
- Damage Deposits Landlords aren’t allowed to ask for a damage deposit AND they can’t use the last month’s rent to cover the damage. Refundable deposits for keys are OK.
- Rent Pre-Payment Landlords aren’t allowed to ask you to pre-pay a year’s rent, no matter what your employment or credit situation is. Of course, they can refuse to rent to you – but not for a reason that’s protected under the Ontario Human Rights Code.
- Entry by the Landlord Tenants must be given 24 hours written notice before a landlord may enter the unit – unless it’s for an emergency. And yes, if a landlord is selling the condo or house, tenants have to provide access if the 24-hour notice was followed.
- No Notice of Entry Required If a tenant has given notice of termination, the landlord may show the unit to prospective tenants between 8 am and 8 pm – although no notice is required, the landlord must try to tell the tenant before entering.
- End of Lease When a lease ends, tenants are permitted to stay in the property under the same conditions and must give 60 days notice (from the 1st of the month) if they want to move. If it’s been more than 12 months, landlords are permitted to increase the rent.
- Toronto’s rental market is extremely competitive and bidding wars happen all the time. A few weeks ago, we tried to show 6 properties to someone moving to Toronto – by the end of the day, 5 of the 6 condos had been rented.
- Real estate agents can help. We have access to a whole bunch of rental listings. If you’re looking to rent in Toronto, you can enlist us to help in your search. The best part? The landlord pays our fees. If you’re in the market for a Toronto rental, give us a shout – we’d love to help!
Click here to read our complete Guide for Tenants Renting a Property in Toronto.