A Student’s City: A Field Guide to Successful Rental Hunting

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Among the hardest parts of adjusting to student life is finding a rental property to call home. As September approaches, students are scouring classifieds and attending back-to-back viewings looking for the perfect place to live. To help make your search a little easier, here are some tips for effective house hunting in Toronto.

Starting your search

Begin your search no more than two months before your intended move-in date. Tenants must give 60 days notice before ending their lease, and properties are often rented within the first weeks of coming on the market.

Consider too what you have more of to burn: time or money. In most cases, spending more money means living closer to campus. Spend less money, and you will likely spend more time commuting. Look for a rental within a 15-minute transit commute of downtown and you will find more spacious and inexpensive places, but will have to budget for time and transportation costs. If you’ll be purchasing a monthly Metropass regardless of your living situation, consider living further away from campus — the savings will make a longer commute worth it.

Regardless of how much time you spend checking listings and diligently refreshing your online searches, it can sometimes feel like few ideal options will come on the market during your search. However, don’t get discouraged. Just be prepared to jump on a rental quickly.

Some popular websites for house hunting are Kijiji, Craiglist, Viewit and Padmapper. Avoid MLS, as it mostly advertises rentals that are so run-down the landlord needed to hire a real estate agent to let it.

Viewing potential homes

When viewing rentals, have the necessary documentation to close the deal on hand or risk losing the place to better-prepared buyers. Here is what you should consider having in your portfolio to present to a landlord:

  • A filled-out generic copy of a lease — this is a good way to prevent surprises and forgotten information come deal time.
  • References/Resume — sell yourself as the perfect tenant! Be sure to let references know to expect a call, and get their contact information early.
  • A bank statement showing that first and last month’s rent is in your account (most banks no longer provide reference letters).
  • A recent pay stub from your job to show you have a steady source of income.

A landlord may ask for a credit card or SIN number, but you are not required to give this information to them.

It may sound trivial, but be sure to get the name, address, phone number, email address, and preferable times to contact a landlord. This information is often not listed online.

If possible, book as many rental viewings as you can in one day. It takes less than 10 minutes to realize a place isn’t right for you. There are lists available online with questions to ask landlords over email or phone before viewing a rental if you can arrange to do so. You can often decide if a place doesn’t sound right for you without having to make a trip to see it.

Before signing the lease

A place is not yours until the landlord has money in his or her hands. Be prepared with either cash or a certified cheque (not personal, as it could bounce) at all times or risk losing out on a potential rental. Technically, a verbal lease agreement is binding in court as long as a witness is present, but most landlords will provide a written one both for their records and yours. Be wary of any landlord who wants only a verbal agreement.

On-site, don’t rush. If you’re given some time to check out your potential pad, take it. Look for any obvious issues or more subtle red flags, such as ceiling stains that could indicate water leaks. Once you commit, the place is your home, so take the time to ensure you will be comfortable there.

This article appeared in The Varsity here

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