7 Important Tips for Renting in Downtown Toronto

There are many advantages to living in the center of the biggest city in Canada. Toronto boasts a diverse cultural flavor, countless thriving businesses, and many facilities for its inhabitants. These characteristics have resulted in Toronto becoming one of the fastest growing cities in North America. However, the growing population has resulted in higher rent prices, more traffic congestion, and other challenges for renters.

Fortunately, the right rental home can help you counter these challenges. At rhenti, we understand the individual demands of renters. That’s why our platform features listings with dozens of details that can help people find their ideal home. Here are some tips to help you as a renter in Downtown Toronto:

1. Find the Right Price

This may seem obvious but it’s important to find a home that fits your budget. Usually, your rent should account for approximately 30% of your income. Take a look at our Downtown Toronto listings to find a home at the price you’re looking for. We have numerous listings at different prices.  

You may also consider signing a lease with a roommate. Not only will this help make rent more cost-effective but could improve your candidacy if your co-applicant also has an excellent credit report.  

2. Have Your Information Ready

Because the demand for housing in Downtown Toronto is high, it’s important to move fast when you like a rental home. At rhenti, we offer high-resolution photographs so that you can visualize a home from the comfort of your computer. You can also arrange a viewing with us through our platform.

We conduct credit and reference checks to help match good listings with good renters. A letter of employment, pay stubs, and references are all pieces of information that you need to prepare ahead of time. You can also personalize your application to set yourself apart from other renters.

3. The Ideal Location Can Offset Your Transportation Costs

Undoubtedly, rental prices are higher as you get closer to the downtown core.”. However, this is negated by lower transportation costs. While living in Downtown Toronto, you’re close to excellent schools, colleges, universities, offices, eateries, parks, sports complexes, entertainment venues, and recreational areas. These locations are usually at a walking distance or accessible by public transport.

In the outskirts of Toronto, you may find rental homes at lower prices, but you will likely need access to a vehicle. This may mean additional costs such as insurance, car payments, maintenance, seasonal upkeep, and parking. Combined, these expenses can neutralize the lower rental rates outside of the city’s core.  

Regardless of your preferences, you can find a home near public transport or highways by utilizing the map feature on our platform.

4. Consider Renting a Home in a Modern Condominium

In just a few years, Toronto’s population is expected to grow beyond 3 million people. To satisfy this increased need for housing, more condos are going up every year. You can browse our listings to take advantage of some of the following perks of condo living:

  • Less Maintenance: Newer condos are more energy efficient, resulting in fewer utility bills. Upkeep is usually performed by the building’s management and is covered by the condo fees. What’s more, you won’t need to worry about shoveling the snow or maintaining the lawn while living in a condo.
  • Security: While Downtown Toronto is statistically safer than most other major city centers, it still has some big city problems. Fortunately, most condos feature front desk concierges, closed-circuit television (CCTV) security, and an intercom system to improve communication. Moreover, having neighbors in proximity also helps in case of emergencies
  • Amenities: Most condos feature many extras such as a washer, dishwasher, washing machine, dryer, cooling, and heating. They may also feature amenities such as a gym, swimming pool, theater, and access to wi-fi. Having these features available at little additional expense will lower your cost of living and improve your quality of life.
  • Modern Living: Some condos offer a taste of contemporary living with modern architecture, stylish fixtures, eco-friendly design, and smart technology.
  • Socializing: Most condos feature communal areas such as party rooms to offer a chance at socializing. It’s easy to develop new friendships when living in a condo.

We’re detail-oriented at rhenti because we realize that these features are important to modern renters. Check the amenities section of our listings to see what other extras many rental homes offer.

5. Be Creative

While modern homes boast many amenities and architectural advancements, they may not offer as much space as older properties. To help you gauge your interest in a rental home, we offer detailed measurements in our listings. You can check the size of the kitchen, living room, bedroom, bathroom, hallway, and more. You can also look for a home with a locker, which can help you meet your storage needs.

Many millennials counter smaller living spaces by furnishing their homes creatively. Custom-built furniture can help you take advantage of irregular spaces, while beds, coffee tables, and seats with hidden shelves can provide more storage options.

6. Know Your Rights and Responsibilities

As a renter, it’s important to understand your rights and responsibilities to have a stress-free renting experience. It’s also good to respect the property and to develop a friendly and professional relationship with the rental property owner. Mutual respect can be beneficial to both parties in the long run.

7. Take Advantage of Platforms like rhenti

Many renters are tempted to use the services of a real estate agent to find a rental home. However, finding a good real estate agent can be difficult. Because of the state of the housing market, most are busy with multiple accounts, and may not be able to serve you on time. They also don’t prioritize rental clients. While you’re waiting for your real estate agent to schedule you into their calendar, your ideal home could be taken. 

And remember, some real estate agents will not work with you until you’ve signed an exclusivity agreement. This is ill-advised, especially because it can leave you bound to an ineffective professional.  

Use rhenti to find a charming Toronto apartment today instead of wasting time on outdated platforms. Our website features a slick user-interface (UI), countless listings, and high-resolution photographs. What’s more, we offer digital lease signing to reduce paperwork and speed up the leasing process.

By following these seven tips you can enjoy your life as a renter in Downtown Toronto. And with rhenti on your side, you can find the home of your dreams at a price that meets your budget.

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