Toronto is the biggest city in Canada and finding a reasonable apartment for rent can be difficult and time consuming. With a vacancy rate of 1.5%, apartments often come on the market and are leased in a matter of days. Here at Plazato, we know how frustrating it can be to find the perfect apartment and still not be able to get the place, so to help we have compiled a list that will give you an advantage over the competition when finding your next apartment.
1) Figure Out What You’re Looking For
Make a list of the features that you want in an apartment. Do you want to be near public transportation, such as the TTC, or be able to walk to anything you need? What about the number of bedrooms and bathrooms in the apartment? What square footage are you looking for in an apartment? Identify all of the factors that you believe are important to your search. With so many apartments going up for rent every day, giving consideration to the features you want helps you save time and makes it easier to find the perfect apartment for you.
2. Create a Budget
Once you have identified what you are looking for in an apartment, create a budget for said apartment. Figure out how much you are willing to pay in monthly rent. Also keep in mind that aside from paying rent every month, you also need to pay for utilities and internet/cable. Try to create an upper threshold of rent that you are not willing to spend more than. As a method of pragmatic budgeting, you can figure this out by dividing your monthly net income (after taxes) by three.
3. Contact a Realtor
When you have decided which features you are looking for and how much you are willing to pay, you should contact a realtor. Realtors can be a great source of listings not available elsewhere and can help you look for apartments within your criteria. This will in turn increase your odds of securing the perfect place for you.
4. Remember to Act Immediately
If you see an apartment that you’re interested in, email or call immediately. Don’t wait a couple days. Contact them and set up an appointment, preferably the same day. Apartments in Toronto can be snatched up at any time so its important to take initiative and make a decision quick.
5. Set a Good Impression
Often, many landlords will have to pick between several “potential” tenants. It is therefore important to make a good impression. When you go see the apartment that you are interested in and meet the landlord, make sure you are neatly dressed, treating it like a job interview. This shows the landlord that you are an upstanding citizen and can put you in a good position to secure the apartment.
6. Properly Inspect the Apartment
When you visit the apartment, make sure you do a thorough inspection of the property. Gauge the size of the overall apartment and each individual room. Listen to your gut and get a feel for the apartment. Check the appliances, water pressure and ventilation. If you can look for signs of dampness or pest problems. Try to identify any concerns such as noisy neighbours or a smelly hallway.
7. Close the Deal
Once you’ve decided to go for it and lease the apartment, get your paperwork ready. Have all your papers handy before you close the deal, this means references from your landlords, documents from a guarantor, credit report or anything else that is required. Also, it is likely you have to deposit a cheque, so have your money ready. This step is important and seemingly obvious, but often overlooked.
Toronto Plaza Hotel now has added high quality apartments for rent to their list of offerings. These apartments are deluxe accommodations for reasonable price that most individuals or families can afford. The apartments are close to both Highway 400 and 401, short drive away from the downtown core and the airport. The apartments are also close to York University and many shopping malls. This sets the Toronto Plaza Hotel apartments apart from the typical apartment complex, with its great location and reasonable price. There are only a limited number of units available, so act now!