Important Things to Know When You Rent a Home or Apartment in Canada
As part of your relocation efforts to move into Canada, you may need to rent a home or apartment upon arrival as a new permanent resident. Renting a home or apartment in Canada is similar to renting a space in many other areas of the world, but there may be some key differences for you to consider as well.
The monthly payment that you are responsible for when renting an apartment or a home in Canada may be among your single largest expense each month, so it is important that you understand as much as possible about this payment and other aspects associated with being a renter in Canada.
Comparison Shop to Find a Low Rental Rate
First, it is important to understand that rental rates can vary significantly from apartment to apartment even within a short distance of each other. When renting a home or an apartment, you may be concerned about quality of the space, amenities, size and other factors. However, when all things are taken into consideration, you also want to find the best deal on your rate. It can pay off considerably to shop around and to find the lowest rental rate on a quality space that meets your needs
Understand Which Expenses Are Included in the Rental Rate
In Canada, some landlords may include different expenses with your rental rate. For example, some rental payments may include utilities, parking and other similar expenses, and other rental payments may not. The requirements for this can vary by province, and some landlords may include optional expenses in the rental rate. Reviewing this information will help you to determine which rental option is most affordable overall as well as which options are affordable for your budget.
Learn Which Appliances Are Included With the Rental
When you are renting an apartment in Canada, you should be aware that landlords are required to provide you with at least a stove and a fridge. Additional appliances that may be included in the rent are optional, and you should learn which appliances the landlord will provide to you before you sign the lease. When renting a house in Canada, there are no requirements regarding appliances. Typically, the tenant provides all appliances, but this is not always the case. The landlord is generally required to provide the tenant with the tools and equipment needed to maintain the lawn, but the tenant will be required to keep up with this task according to the terms of the lease.
Get Renters’ Insurance
Renter’s insurance, which also may be referred to as contents insurance, is an option for most tenants in Canada, but some landlords may require you to purchase a minimum amount of coverage according to the terms of the lease. The landlords may have a property insurance policy that covers damages to the property itself, but this coverage may not provide for losses you incur for your personal items. Renters’ insurance covers your furnishings, clothing and other items that may be damaged in a flood, a fire or other significant event. You should inquire if your landlord requires it, but you should also consider getting it even if it is optional.
Whether you choose to rent a small house, an apartment or some other type of property, you may want to do what you can to keep your rental rate low and to set up a budget that is affordable for you. After you have learned more about renting in Canada, you can more easily find the right space for your needs and your budget.