Among the hardest parts of adjusting to student life is finding a rental property to call home. As September approaches, students are scouring Craigslist and attending back-to-back viewings looking for a place for the start of the school year. To help make your searches a little easier, here are some tips that should be shared with everyone before they start house hunting.
Starting your search
Begin your search no more than two months before your intended move-in date. Tenants must give 60 days notice before ending their lease, and properties are often rented within a week of coming on the market. Sign a contract too early and you might be stuck paying rent before you’re able to move in.
Consider what you have more of to burn: time or money. Spend more money, and you will save time by being closer to campus. But be warned: unless you are comfortable with lower living standards, you run the risk that your rental will only be a place to sleep. Spend less money, and you will likely spend more time commuting. Look for a rental within a 15–30 minute transit commute of downtown and you will find more spacious and inexpensive places, but will have to budget for time and transportation. If you’ll be purchasing a monthly Metropass regardless of your living situation, then consider living further away from campus — the savings will make a longer commute worth it.
Regardless of how much time you spend checking listings and diligently refreshing your online searches, it will feel like few options will come on the market during your search. However, all it takes is one place for you — so don’t get discouraged. Just be prepared to jump on a place quickly.
Some popular websites for house hunting are Kijiji, Craiglist and Padmapper. Some people haven’t had much luck with Viewit, as it advertises mostly apartment complexes — but depending on your housing preference, it can be useful.
Viewing potential homes
When viewing rentals, be sure to have the necessary documentation needed to close the deal on the spot, or risk losing the place to better-prepared buyers. Here is what you should consider having in your personal portfolio to present to a landlord:
– A generic copy of a lease — this is a good way to prevent surprises and forgotten information come deal time.
– References/Resume — sell yourself as the perfect tenant! Be sure to let references know to expect a call, and get their contact information early.
– A bank statement showing first and last month’s rent is in your account (most banks no longer provide reference letters).
– A recent pay stub from your job to show that you have a steady source of income.
A landlord may ask for a credit card or SIN number, but you are not required to give this information to them.
It may sound trivial, but be sure to get the name, address, phone number, email address, and preferable times to contact a landlord. Most of this information is often not listed online.
If possible, book as many rental viewings as you can in one day. It takes less than 10 minutes to realize a place isn’t right for you. There are lists available online with questions to ask landlords over email or phone before viewing a rental; often you can decide if a place doesn’t sound right for you without needing to make a trip to see it.
Before signing the lease
A place is not yours until the landlord has money in their hands. Be prepared with either cash or a certified cheque (not personal, as it could bounce) at all times or risk losing potential rentals. Technically, a verbal lease agreement is binding in court as long as a witness is present, but most landlords will provide a written one both for their records and yours. Be wary of any landlord who wants a verbal agreement.
Remember, you can always try to negotiate lower rent. Point out flaws in the property such as any visible cracks or a lack of in-unit laundry, or ask for utilities to be included to get a better rate. Don’t rush. If you’re given some time to check out your potential pad, then take it. Look for any obvious issues or more subtle signs, such as ceiling stains that could indicate water leaks. Once you commit, the place is your home, so take the time to ensure that you will be comfortable there.
