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Tips for Toronto Tenants
1. Documents: Landlords are usually looking for the following documents. Having the information available in advance will help save you time and perhaps give you a little more power to negotiate price or terms of your lease.
a. Have a Rental Application completed. You can download a sample below
Our investment rental properties are usually vacant and move in ready when we place them on the market. So our Landlords are looking for immediate to 30 day occupancy. With our properties, 60 days is usually sufficient timing to find the ideal premises.
Usually a condominium rental in the Toronto and surrounding areas includings all utilities, so the rent is all inclusive. But, keep in mind the new buildings are now installing separate utility meters, and usage is not included in the Landlords monthly maintenance fee. Don't assume, look carefully to if utilities are included.
Landlords traditionally pay for property taxes, building insurance (not content insurance), maintenance fees.
Many of our condominium buildings offer amazing facilities, outdoor tennis courts, indoor pools, gym, squash, saunas etc. The Landlord is already paying for the maintenance of these items through his monthly maintenance fee's, so why not ask that these items be included in the lease. If possible add a clause that a key to these facilities will be provided to you upon occupancy.
If you are already paying Gym fee's this might save you some money in the long run.
Many condominium corporations have strict rules about pets. Ask for a copy of the Condominum Rules and Regulations if you are told they allow pets to confirm the restrictions that are place, such as size and numbers.
Traditionally the tenant will pay their monthly rental fee with utilities extra. If utilities are separate, the tenant will usually be asked to transfer the utility bills into their own name. The Landlord traditionally pays the property tax bill and building insurance. The tenant will most likely be asked to obtain content insurance.
When you have negotiated your price, terms and occupancy you will want to secure the property so it's yours while you are waiting for your move-in date. Once an Offer to Lease has been accepted traditionally a "first and last" months deposit cheque is accompanied.
The Offer to Lease will be drafted by our staff, sales representative, outlining the monthly rental rate, what is included, occupancy date and other common terms and conditions which you will review in advance of signing.
For More Information On Rentals In The Toronto Area - Please Contact Our Rental Department!
416 896 3333 or 905 896 3333