Leasing a condo in Ontario is straightforward if you follow the rules and screen properly. This is the checklist we run with every landlord client.
Before you list
- Check the condo corporation’s rules on leasing, minimum lease terms and any tenant registration forms.
- Confirm your mortgage and insurance permit renting; switch to a landlord policy.
- Decide what is included: parking, locker, utilities, internet.
- Price against current comparables in your building, not last year’s.
The paperwork
- Ontario Standard Lease. Mandatory for most residential tenancies since 2018. Custom clauses can be added but cannot override the Residential Tenancies Act.
- Deposits. You may collect a rent deposit of up to one month’s rent, applied to the last month. Damage deposits are not permitted. A refundable key deposit is allowed at the cost of replacement.
- Rent increases. Once every twelve months, with 90 days’ written notice on the prescribed form, and no more than the provincial guideline for units first occupied before November 15, 2018. Newer units are exempt from the guideline but still need the notice.
Screening
Credit report, proof of income, employment letter, government ID and a call to the previous landlord. Consistent criteria for every applicant, applied the same way, keeps you on the right side of the Human Rights Code.
After move-in
A dated, photographed move-in inspection, receipts for every payment, and a diary of any repair requests. It is the record that protects you if there is ever a dispute at the Landlord and Tenant Board.
We handle all of this for landlords in downtown Toronto, North York, Vaughan and Mississauga. Get a rental evaluation to start.
Thinking about a move? Get a request a home evaluation, browse our listings or talk to the team.
