Twenty-four tips for apartment hunting
If you have been apartment-hunting for more than a few days you will already be aware that not all apartments afford equal value. Some landlords will hold out for rents which are higher than "market" rents even if it means leaving apartments empty for months at a time, while others will rent for "below market" rents in the hope of attracting desirable tenants and in order to encourage long-term tenancies. The City of Toronto has approximately 500,000 rental apartments, and given that the average tenancy in Toronto is 3 years we can surmise that in any given month there are about 14,000 apartments turning over... and about 14,000 prospective tenants trying to find the perfect apartment.
Finding the right apartment
And when you think that you have found the right apartment...
While finding the right apartment can be challenging your efforts are wasted if you are unable to convince the landlord that you are the best tenant he or she could hope for.
Finally....
I wish you luck in your search.
KB
Finding the right apartment
- Check Padmapper, Kijiji and craigslist daily. The best apartments rent very quickly.
- Before requesting a showing you should familiarize yourself with the apartment which is being offered. Hopefully you will find Grace’s Places listings to be quite detailed and the website informative. If the landlord provides few details it's likely that the apartment is unexceptional, at best.
- Explore the neighbourhood before you go to see the apartment. You may not have a lot of time for exploration if the apartment is attracting multiple applicants. Of course, the more affordable an apartment is the more likely it is that it is in a less-desirable neighbourhood.
- The quality of the landlord can be as important as the quality of the apartment. Corporate landlords have an obligation to maximize shareholder value and may have less incentive to retain long-term tenants than might be the case for a small part-time landlord. On the other hand, not all small landlords are familiar with their obligations under the Residential Tenancies Act. One approach if you are seriously interested in a property is to visit in the late afternoon and speak to tenants as they arrive home from work. Recognize that tenants may be in a hurry, but if they have a great landlord.... or a really bad one... they will likely take a moment to let you know. Using Google to search the landlord's name (or the corporation's name) may reveal useful information, or you could simply search Google for "Toronto's best landlord". (I'll save you trouble.... such a Google search will likely bring you back to this site).
- If you use Kijiji you will find that many landlords post the URL of their websites (which you will find above the email reply form on the right-hand side of the page). The landlord's website likely contains useful information which is not in the Kijiji ad. And when you request a showing indicate to the landlord that you have familiarized yourself with the offering, as this suggest to the landlord they are unlikely to be wasting their time with you. (A bit of flattery doesn't hurt either).
- Most apartments are re-rented long before the apartment has been vacated. If an apartment is sitting vacant it may mean that several prospective tenants have considered it and felt that it did not afford good value. Of course, there may be legitimate reasons for an apartment to be vacant (if, for example, the apartment has been taken out of service for renovations). If the building has several vacant units then you can assume that the landlord is hoping to get the highest possible rent (and if a landlord is advertising apartments "from $****.00" then it is likely that several units are available (which is not a good sign).
- Given the number of university students in downtown Toronto it is often possible to find a summer sublet, and these can afford good value. (Of course, if a student is offering a sublet it is because they are happy with their apartment and wish to return at the end of the summer, so you can be reasonably confident that you will enjoy the apartment as well). But sublets may not be in your best interest if your needs are longer term, given that typically you will need to find a new apartment in September... along with thousands of other would-be tenants who are returning to Toronto to go to school. September is unquestionably the worst time to be apartment hunting in Toronto.
- Consider posting in the "Apartments Wanted" sections of Kijiji and craigslist, but be realistic with your budget. (Do not expect to find a desirable apartment for less than $900).
- If you have friends who have a great apartment and a great landlord ask to be put on the landlord’s waitlist.
And when you think that you have found the right apartment...
While finding the right apartment can be challenging your efforts are wasted if you are unable to convince the landlord that you are the best tenant he or she could hope for.
- If an apartment affords good value and has been marketed on any of the popular rental sites it is possible that the landlord will have a hundred or more requests for a showing, and is likely to want to limit showings to those candidates who are likely to qualify and whose needs closely match the attributes of the apartment being offered. Accordingly, when requesting a showing you should provide the landlord with some information about yourself and why you think that this particular apartment would suit your needs. If you are already living in an apartment you should tell your prospective landlord why you wish to move.
- Be honest with your prospective landlord. Recognize that most landlords prefer to rent to non-smokers, so if you are a smoker you are likely wasting your time viewing an apartment which is in high demand. (As an aside, many tenants believe that they cannot be evicted for smoking. This is true to the extent that you cannot be evicted for the simple act of lighting a cigarette, however it does not take a lot of smoking to discolour walls and impart an odour to carpets, and smokers have been evicted due to the property damaged caused by their habit. In one case a Toronto tenants was not only evicted but was successfully sued for $10,000, the result of smoking in non-smoking apartment).
- Arrive on time for your appointment. If you’re late for your appointment the landlord may assume that you’ll be late with the rent, and in any case if the landlord has booked several showings you may not have a chance to see the apartment if you arrive late.
- Some landlords will be open to negotiating a lower rent, but you should only attempt to negotiate the rent if the apartment meets your needs and you are confident that the apartment will not be rented for its asking price. Of course, there is absolutely no point in attempting to negotiate rents in the case of Grace's Places' apartments.
- Be aware that the landlord is going to be looking for someone who will take care of the apartment and its appearance, so you should take care of your own appearance. If you are driving to the appointment you might want to wash the car first.
- Ask your current landlord for a letter of recommendation before you go apartment hunting and bring a copy of the letter with you to the showing.
- The prospective landlord may wish to verify your references, although this can be a time-consuming task. If you are employed consider asking your employer for a “letter of employment”. Typically such a letter will inform the reader of your position in the company, how long you have been employed, and your salary. If your employer permits you to use company email for personal communications consider doing so, as your email address is confirmation of employment.
- Consider ordering a copy of your credit report. Companies such as Equifax provide these online at modest cost, and aside from saving the landlord time this will also save prospective landlords the expense of doing their own credit checks. You can purchase a copy of your Equifax credit report for $23.95 here: Equifax
- When you've gathered up your reference letters and credit reports write a cover letter explaining why you think that the apartment will suit you needs well.
- Few landlords rely solely upon credit-rating agencies. Many will use Google or another search engine and visit your Facebook, Linkedin, Instagram or Twitter pages. If those pages are unflattering consider cleaning them up or making them private. If they are flattering but private consider making them public (at least until you find an apartment).
- The rental application is likely to provide a space for your S.I.N. (Social Insurance Number). You are not obliged to provide this information (and Grace's Places' application form makes it clear that the provision of your S.I.N. number is optional). Nonetheless, if you choose to provide this information you will be making it easier for your prospective landlord to verify your credit history, and your reluctance to provide this information may indicate to your prospective landlord that you have something that you wish to hide. By providing this information you improve your chances of making the "short list" if you are in competition with other applicants. (The risk involved in providing your S.I.N. number is that the prospective landlord might use the information to steal your identity. I'm entirely happy with my current identity and would not be tempted to steal the identity of a prospective tenant).
- After submitting your application give the landlord a few days to consider it. But after a few days have passed don’t hesitate to contact the landlord to confirm that you are still interested. In some cases the landlord may have narrowed the choice down to two or three candidates, and your enthusiasm may be all that is needed to sway his or her opinion in your favour.
Finally....
- A fixed-term lease is a binding contract. If a lease is required ask the landlord what would happen if your circumstances changed and it became necessary to terminate the lease early. I've heard from many tenants who have found themselves in conflict with their landlords when their plans changed. At Grace's Places tenants may terminate their leases at any time with 60 days notice subject to a payment of 5% of the rent which would have been due had the lease been fulfilled. This fee partially covers the landlord's additional costs to re-rent the apartment. In many cases (such as when a new tenant can be found without extensive advertising, and when an apartment is left in move-in condition) this fee is waived. Of course, it helps that Grace's Places apartments rent very quickly.
- You should not be required to make any cash deposit with your application. If you are asked to make a cash deposit there is a chance that the person that you are dealing with is not the landlord. Nor should you pay an "application fee" or a "damage deposit". Both are illegal in Ontario.
I wish you luck in your search.
KB