Renting a home in Canada – All you need to know
The process of renting a home in Canada can be a daunting challenge. Here is all you need to know about renting a home as a beginner.
The process of renting a home in Canada is pretty much the same as it is around any other part of the world. You should be extremely careful before renting a home. The reason is you are not only going to invest your hard-earned money but also getting a place you have to call home.
So, if you do not know how this process of renting a home in Canada works, this article is for you. Keep reading to find answers to your questions regarding renting a home in Canada.
Finding apartments and houses for rent
In Canada, rental accommodations are of various types. They include apartments, houses, and condominiums. Some of them are available for rent entirely, while some are divided into units. A duplex is basically a house that is divided into two separate units. In some buildings, rental rooms are also available with shared bathrooms and living facilities. So you can choose a home for rent in Canada as per your choice, budget, and personal preferences.
Renting apartments in Canada range from bachelor units that have a single room serving as a bedroom and living area to those with more than one bedroom and separate living areas. If you are living alone, you can choose a bachelor unit, or you can go for an apartment with multiple bedrooms if you are living with your family.
Utility costs such as water and electricity may or may not be included in rent. So, consider collecting information about it as well before selecting any rental accommodation in Canada.
Now that you have found your dream accommodation in Canada, the next step is to sign a lease.
Signing a lease
While finding a long term rental, landlords will generally request details about your ability to pay your rent before offering a lease. Documents you may need in this case include:
- A letter from your most recent or current employer that shows your income per year.
- Bank statement(s) showing that you have enough savings to pay rent for a few months.
- Some references from your previous landlords.
It is noticed that most landlords prefer Canadian documentation instead of others. So, it becomes clearly impossible or at least cumbersome for new arrivals in Canada. However, some landlords are willing to trust the newcomers to rent their apartments and houses here. So, if you can not find a suitable house or apartment at the first attempt, do not lose hope and keep trying .
Things to keep in mind before renting a home in Canada
While looking for accommodation in Canada, you must keep the following things in mind:
Rentals in Canada usually tend to start on the 1st date of every month. Only a few are available on the 15th of every month. Finalize your trip to Canada by keeping this in your mind if you wish to ensure the availability of various options in this regard.
Arriving at least two weeks before the end of the month is preferable. This is because having ample time to know your surroundings is essential. This in turn will help you find suitable apartments or houses for rent in Canada.
As a tenant, beware of your rights. Take the time to familiarize yourself with the rules of the province that you are going to.
Most landlords demand at least the rent of a half month as a security deposit for apartments and houses in Canada.
Unfortunately, online scams also exist that attempt to dupe individuals into paying money on properties that don’t even exist. Beware of such bogus ads while searching for accommodation in Canada.
In Canada, rental accommodation mostly comes furnished, so make sure to get all the details before making a final decision. The best time to get good deals on furniture is the end of the month as people sell their possessions at relatively low prices before moving to another place.
Renting a home in Canada: lease and payment
You will probably have signed a lease document for a specific time, typically one year, if not agreed otherwise. After completing a fixed-term lease, the term may renew for the next year or can be converted into a month-to-month kind of agreement. So, before signing a lease, discuss all possible aspects with your landlords.
To add more, the rules and regulations of rent increases are different in every province. So, it is better to learn about them to avoid any issues that may arise in the future.
It is the provincial government that sets the maximum allowable range for rent increases. For instance, the provincial government of Ontario has set the maximum allowable rent increase to 1.2% for 2022.
In British Columbia, similar kinds of rules apply. Here, the provincial government allows a maximum rent increase of 1.5% for the year 2022.
Rents in Alberta can only increase if it has been more than a year since the last rent increase. However, there is no set fixed amount of increase unlike British Columbia and Ontario.
The searching process for apartments and houses for rent in Canada starts with choosing an appropriate neighborhood. Before choosing a home, you must look at the surroundings as well, apart from home alone. Are the hospitals, educational institutes, grocery shops, supermarkets, and workplaces nearby? If yes, you can now go for the home of your choice in that area, of course, by following Canadian protocols.