You must decide what area you want to live in and how long you want to live in the space for. Most landlords will require that you fill out a contract for a full year. If you want to live in the space for a lesser period you might want to consider subletting from another person or finding a month-to-month space.
Your next step before finding a Toronto apartment rental is to decide if whether or not you would like to live with a roommate. Look at the rental prices. You will see that living with a roommate is most often cheaper than living by yourself.
When choosing your next apartment you must figure out a way
to balance between how much you want to pay and how nice of an
apartment (Toronto or anywhere) you
want to live in. Remember that the more amenities there are in the building
(pool, party room, business center, gym, etc…) the more expensive your rent will
be. It is recommended that you do not spend more than a third of your income on
rent, however, if obeying your budget means living in an unsafe area or in poor
conditions, consider increasing your budget or finding another roommate.
The next step is to decide in which neighborhood you want
to live in. Whether you’ve grown up in apartment in Toronto or are new to the city make sure
you do your research. Sometimes the hype about a neighborhood might be deceiving
and you might find yourself pleasantly surprised by new neighborhoods. Finding
about the history of neighborhoods is also thrilling.
For example Cabbagetown was born in the 1840’s when thousands of Irish immigrants settled in the Toronto area after fleeing the potato famines in their homeland. The first Cabbagetown residents were extremely poor. In order to put food on the table they grew cabbages on the front lawns.
The St. Lawrence neighborhood was originally built as the shoreline of Lake Ontario. Immediately to the north, above Front Street was the Town of York, the forerunner to the City of Toronto.
The Annex neighborhood was subdivided in the early 1850’s, on land that was
formerly owned by the Jarvis, Crookshank and Denison families which all played a prominent role in the history of Toronto.
After visiting the neighborhoods you must establish if it
is an easy commute to work. Look for parking if you have a car or proximity to
street cars, go stations and TTC if you use public transportation. You must also
establish whether or not apartments in the neighborhood you pick are affordable.
Now that you have done all of the prep work you are now ready to contact these Toronto apartment rental
listings. When visiting, make sure that everything in the apartment is in functioning order. Make sure to bring a note pad and digital camera if you have one. It will help you remember the important facts when it comes time to making your final decision. The good apartments may get snatched up only a few hours after being released on the market, so be ready to fill out an application and bring all the necessary materials such as your checkbook, two recent bank statements, last year’s tax return, two recent pay stubs, a letter of employment, a letter of reference from a previous landlord or their contact information and a tape measurer to make sure all of your furniture will fit.
Also make sure you read up on what to look for when signing a lease to avoid any errors and regrets. Best of luck with your search!