Toronto Rentals
 

Just wondering if anyone has experience of looking for an apartment in Toronto and can advise as to when is the best time (of the month) to look? We’re thinking of flying over for a week and finding somewhere to rent.

Finances aren’t a problem and I’ve a good Canadian credit rating, but haven’t got work lined up yet as it’s nigh on impossible to arrange from the UK. Might that be a stumbling block with landlords?

Thanks for any info anyone can think of.

Re: Toronto Rentals
 

There is no preferred time to look for accommodation in Toronto as people move out at various times through the month. I would avoid end of - especially in a condo/apartment as elevators tend to be booked up for moving. Generally people give 2 months notice therefore you will see rentals on the market available for occupation start of November. Generally speaking landlords and agents like to see an employment letter and a credit file along with first and last months rent. Personally I have rented in 4 different units in different corners of Toronto. I found I was able to rent at CityPlace with no employment details - I could provide 6 months of rent in advance. Usually landlord like to see $$$ and they will be flexible with the 'looking for work' scenario.

Best, TP.

Re: Toronto Rentals
 

Most people move at month end so I'd say the best time is mid month as units available at the start of the next month will be negotiable as the landlord will want the unit occupied.

Re: Toronto Rentals
 

Thanks for the information. We’re not in a hurry so would prefer to look for a place at the optimal vacancy time. Perhaps visiting Toronto for a week or so.

So I take it, the last week in Sept isn’t ideal?

Re: Toronto Rentals
 

I personally don't think it is as I had problems securing an elevator for the move. Obviously this all depends on the building you finally decide to live in; if like me they were buildings with high rental occupants then good luck. My last two rentals I switched to mid month and had no problem. Landlords aren't fussed about the move in date being the start of the month like they seemed to back in UK. They will just make adjustments in the first/last months rent. You tell them when you want to move in. This is completely my own experience.

Best, TP.

Re: Toronto Rentals
 

I am a little confused. I read it that the OP is asking for the best time to look for a rental apartment, not to move in? If that is the case the availability of the elevator is irrelevant. I agree the end and beginning of the month for move in day can be a bit of a pain for reasons stated above. Landlords just want their units occupied, they don't care when you move in. Either make the adjustment to the first or last month's rent as already suggested or make your rental term start and end on some date other than the first of the month.
I don't think there is an absolute optimum time to look, obviously you will likely get a better deal and a landlord more likely to overlook any weaknesses in your ideal tenant status if you offer for a vacant unit in a building with lots of other rental opportunities, and you can take possession quickly.

Re: Toronto Rentals
 

Thanks again. I’m not so concerned about the moving in date as the best time to look for a vacancy. If tenants are required to hand in their notice at the beginning/end of the month, can I assume that’s when vacancy rates are highest?

I’m just worried about booking flights to Toronto and discovering we’ve arrived at the wrong time of the month.

Re: Toronto Rentals
 

Oops - just seen this.

Yes, that's what I was getting at. Cheers.

Re: Toronto Rentals
 

Tenants are not obliged to hand in their notice for vacation at end of month. All that is required is 2 months notice after the initial tendency term. The tenant can decide when to vacate and at a date preferable to them.

Like the OP said there is no optimal time and some good advice regards to looking for a unit in a condo that has higher rental units.

Best, TP.

Re: Toronto Rentals
 

Just wondering what studios or 1 bed units go for at CityPlace these days? Also, did you use a realtor or just ring around? Thanks.

Re: Toronto Rentals
 

One bedroom in our building going for $1300 ish.

Re: Toronto Rentals
 

Thanks! Helps for budgeting purposes.