On our website, we are trying to explain everything related to Real Estate. Previous posts were about the lease, so in this post, we would like to continue talking about Guide For Landlords. We are working with both parties, sellers, and buyers. That is why we are doing our best to have win-win transactions. Looking to rent out your Toronto apartment or condo? We’ve put together a complete guide of everything you need to know.
There are two ways to look for tenants for your second suite apartment or condo: on your own, or with the help of a real estate agent. As a landlord, you advertise your apartment on many websites such as Kijiji to find the tenant, but be careful about each step. Or you can hire a real estate agent. Many real estate agents offer leasing services that include pricing, advertising, showing, screening, negotiating, and paperwork. If you don’t have the time (or skills) to find a great tenant, consider hiring a professional.
In addition, Most Toronto rentals come on the market two months before they are available for rent (e.g. an apartment will go on the market on April 1st for a June 1st occupancy).
One of the most important parts of finding a good tenant is screening. Make sure to request:
- First and last month’s rent (ideally as a certified cheque or bank draft).
- A current credit check
- Confirmation of employment letter
This is a simple Guide For Landlords, if you need more information please reply!
BABAK MEHRABI, Real Estate Salesperson