Searching for a new home in Toronto’s heated rental market? Here’s what you need to know

  • 📰 TorontoStar
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 55%

United States News News

United States United States Latest News,United States United States Headlines

Are you searching for a rental unit in Toronto? Here’s some questions prospective tenants should consider, according to York Region community legal clinic director Benjamin Ries.

Are you searching for a rental unit in Toronto? It’s an increasingly competitive market out there, real estate players say, with some tenants offering extra rent upfront to edge out other applicants — though landlords can’t legally ask for that under Ontario’s Residential Tenancies Act.Here’s some questions prospective tenants should consider, according to York Region community legal clinic director Benjamin Ries.

“If they’re renting in a basement apartment that has its own bathroom and kitchen, and the owner lives upstairs and they have their own bathroom and kitchen, then they’re safe,” he said. But with a shared setup, or in a sublet situation, a renter doesn’t have the same protected rights.Is the unit rent controlled?

How old is the rental unit? In Ontario, any unit first occupied before Nov. 15, 2018 is covered by rent control — meaning there’s an annual cap on how much a landlord can raise a sitting tenants’ rent, unless they receive special permission from the Landlord and Tenant Board.But if a rental is in a newer building, completed and occupied after Nov.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 60. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Prices are rising in Toronto’s rental market again — and so is the competition“Even super qualified applicants are having a hard time, because you have other super qualified applicants going head-to-head with you.' Prices are rising in Toronto’s rental market again and so is the competition It's hard too for even the super duper qualified applicants Have fun overpaying for that shoes box in Liberty village. 🤦🏾‍♂️ As the city get more and more populated and inflation keeps moving forward, it brings new standards. For anyone in an apt for the past 5 years, that apt has almost doubled the priced and there is no protection of you going homeless.
Source: TorontoStar - 🏆 60. / 55 Read more »