Everything I walk my clients through: what it costs, the documents you need, how to win a competitive unit, and what the Ontario Standard Lease means for you.
By Ewan Kay, Sales Representative, MulhollandRoss Team at Keller Williams Referred Urban Realty, Brokerage · Updated October 2026
How to rent in Toronto, at a glance
BudgetIncome of about 3× the rent, plus two months' rent ready upfront.
TimingStart 30 to 60 days before your ideal move-in date.
FocusPick two or three neighbourhoods, not "anywhere in Toronto."
DocumentsApplication (download below), credit report, employment letter, pay stubs, ID, references, all in one PDF.
Apply fastSubmit a complete package the same day you view, with your limits decided in advance.
Protect yourselfKnow the Ontario Standard Lease, and never pay for a unit you haven't seen.
01
Set your budget and know the upfront costs
Most Toronto landlords look for a gross household income of about three times the monthly rent, and you'll need roughly two months' rent upfront: your first month plus a deposit for your last month.
Example: a $2,500/month apartment
$2,500First month's rent
+
$2,500Last month's rent deposit
=
$5,000Ready when your offer is accepted
3×
The income rule. Landlords typically want to see gross household income of about 3× the monthly rent. Roommates can combine incomes, and a guarantor can fill a gap.
Rent, $2,500/mo
Income, $7,500/mo
Other costs to plan for
Cost
What to know
Key or fob deposit
Allowed, but it must be refundable when you return the keys.
Tenant insurance
Most landlords require proof before move-in. Get quotes early; it's usually a modest monthly cost.
Utilities
Check the listing. In many condos, hydro is extra; in many houses, the tenant pays a share of all utilities.
Parking and locker
Often listed separately. Ask before you apply.
Moving costs
Movers, plus any condo elevator booking fee or refundable move-in deposit.
Check whether the unit is rent controlled. In Ontario, units first occupied as a home after November 15, 2018 are exempt from the provincial rent increase guideline, so the landlord can raise the rent by any amount (once every 12 months, with 90 days' written notice). Ask when the building was first occupied, especially in newer condos.
02
A realistic timeline
Start looking 30 to 60 days before your move-in date. Most Toronto leases start on the 1st of the month, and most units are listed one to two months ahead.
Your renting timeline
60 days outGet readyBudget, target neighbourhoods, documents, credit report.
45–30 daysView and applyBook showings in batches. Apply the same day.
AcceptedSign and payStandard Lease plus first and last, usually within 24–48 hours.
Move-in dayKeysPhotograph every room before you unpack.
Know the busy seasons
Demand isn't the same all year. Around the University of Toronto, for example, competition spikes every year at the start of the school year and again around the new year, when students and new hires are all looking at once. If you can move outside those windows, you'll usually have more choice and more negotiating room.
When it's busiest near U of T, from my experience
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Peak competitionCalmer
03
The documents Toronto landlords want
Prepare these before your first showing, combined into a single PDF, so you can apply within minutes of seeing a place you want.
Your application package
Rental applicationOREA Form 410, filled out completely.
Credit report and scoreEquifax or TransUnion, dated within 30 days.
Employment letterTitle, salary, start date, full-time or permanent.
Recent pay stubsUsually your two most recent.
Photo IDDriver's licence or passport.
ReferencesPast landlords, if you have them.
Cover letterOptional: who you are and why you're moving.
Guarantor documentsOptional: if your income or credit needs a boost.
Many landlords look for a credit score of 680 or higher, but a lower score can often be offset with a guarantor or proof of savings.
Download the Ontario Rental Application (OREA Form 410)Fillable PDF · 2 pages. Fill it in on your computer, save it, and add it to your application package. Send it to me and I'll check it over before it goes to a landlord.
Get your Equifax credit reportLandlords will ask for a recent credit report with your score. Order your Equifax Consumer Credit Report online, download it as a PDF, and add it to your package.
Self-employed: your two most recent Notices of Assessment from the CRA and recent bank statements.
New to Canada or a student: an offer letter or proof of enrolment, proof of savings, and a guarantor if possible.
Limited or poor credit: a guarantor with strong credit and income usually solves it.
Never share your SIN. Landlords don't need your Social Insurance Number to approve you, and you shouldn't put it on an application. Cover it or remove it from any document you send.
04
How to win a competitive unit
The application that wins is usually the one that's complete, fast, and easy for the landlord to say yes to, from a tenant who already knows how far they're willing to go on price and terms.
What wins
CompleteEvery document, one clean PDF
FastApplied the same day you view
Easy to say yes toTerms that solve the landlord's problem
Levers you can pull, decided before you bid
RentYour comfortable maximum
Move-in dateMatch the landlord's ideal start
Lease length1 year, or 2 for more certainty
GuarantorStrengthens a thinner file
Prepaid rentOptional, never required
In a multiple-offer situation, the hardest decisions are the ones made under pressure. So before we bid on anything, I have an upfront conversation with my clients about exactly how much they're able, willing, and comfortable to offer, and which terms, like the move-in date or the length of the lease, they can be flexible on. When the moment comes, we can move quickly and confidently without overreaching.
It also pays to find out what the landlord actually cares about. Sometimes it's price, but often it's certainty, timing, or a tenant they trust. Matching their preferred start date or offering a longer lease can be worth more to them than a little more rent.
About prepaid rent: in Ontario a landlord can't require it, but you can choose to offer some rent in advance to strengthen an application. Only do it if you're comfortable with the money being tied up.
My approach: a balance of structure and flexibility
"I can live anywhere in Toronto" and "I can move any time" sound flexible, but they make a search harder, not easier. There are too many options to compare. The searches that succeed start with structure: an ideal move-in date, a clear budget, and a few target neighbourhoods. Then, as we narrow in on the right options, they need some flexibility to close the deal.
Structure
Set at the start, so we know where and when to look
An ideal move-in date
Two or three target neighbourhoods
A budget and a comfortable maximum
Your must-haves and nice-to-haves
Flexibility
Used during negotiation, to win the right place
Taking possession a couple of weeks early
A one- or two-year lease term
Room on price, within your limit
An adjacent neighbourhood, if it fits better
Structure + flexibility = the right place, on terms you're comfortable with
For example, being able to take possession two weeks early can be a real advantage in negotiations. It means paying for two places for a couple of weeks, but it often makes the move itself much easier to coordinate. Helping clients find that balance is a big part of what I do.
05
Real situations from my clients
Every client's situation is different, so every search plays out differently. Here are a few situations I've helped clients through.
Competitive situation
A two-year lease that won the unit
A client and his partner found their ideal home, and they weren't the only ones who wanted it. We learned that certainty for the next couple of years mattered most to the landlord. My clients were planning to stay that long anyway, so they offered a two-year lease.
That gave them a major advantage, and they secured the unit.
Multiple offers
Knowing the limit before the bidding started
In bidding wars, I've seen how much an upfront conversation helps. By asking the right questions early, my clients knew exactly how high they could comfortably go on rent and which terms, like move-in dates and lease length, they could adjust.
Decisions were fast and confident, and stayed within their comfort zone.
Relocation
Finding a place without being in Toronto
I've worked with clients relocating from Ottawa and from the United States who couldn't be in Toronto for the search. We ran it remotely and still competed in some of the city's most competitive pockets, including the area around the University of Toronto.
They found great places before they arrived.
06
What the Ontario Standard Lease means for you
Most residential leases in Ontario must use the government's Standard Form of Lease, and every term in it has to follow the Residential Tenancies Act. Any clause that conflicts with the Act is void, even if you signed it.
The key numbers for Ontario tenants
1monthMaximum rent depositApplied to your last month. Landlords pay you interest on it yearly.
$0Damage depositNot allowed in Ontario. A refundable key deposit is.
24hrsNotice before entryIn writing, between 8 a.m. and 8 p.m., except emergencies.
12monthsBetween rent increasesAt most one increase in any 12-month period.
90daysNotice of an increaseMust be given to you in writing.
60daysYour notice to leaveUsually timed to the end of a rental period.
More rules every Toronto tenant should know
Post-dated cheques: a landlord can't require them. Many tenants choose them or automatic payments for convenience.
Rent control: for rent-controlled units, increases are limited to the annual provincial guideline.
Pets: a "no pets" clause in a lease is generally void, but a landlord can decline your application because of pets, and condo rules can still restrict them.
When the lease ends: you don't have to move out or sign a new lease. Your tenancy continues month to month on the same terms.
I go through every lease with my clients line by line before they sign, including any additional terms the landlord has added in Schedule A.
07
How to avoid rental scams
The golden rule: never send money for a unit you haven't seen in person, and never to someone whose identity you haven't confirmed.
Red flags
Rent far below similar units nearby
The "owner" is out of the country and can't show it
Pressure to pay a deposit to "hold" the unit
E-transfer only, to a personal account
No lease, or not the Ontario Standard Lease
Safe signs
You've toured the unit in person, or your agent has
The agent is listed on RECO's public register
Deposit goes to the listing brokerage, held in trust
Paid by bank draft or certified cheque
Proof the person can legally rent the unit
08
Your move-in checklist
Tenant insurance in placeSend proof to your landlord before move-in.
Hydro, internet, and any utilities set upStart accounts a week or two ahead so they're live on move-in day.
Elevator bookedFor condos, reserve it through management and ask about move-in fees or deposits.
Move-in photos and videoDocument every room, appliance, and any damage, and email them to your landlord the same day.
Copy of your signed lease savedKeep it, along with your landlord's contact details and payment instructions, somewhere you can always find it.
Want help finding your place?
I help renters across Toronto find the right unit and put together an application that stands out. In most MLS rentals, the landlord pays the agent commission.
Have a specific question? See the FAQ. This guide is general information about renting in Toronto and Ontario, not legal advice. Rules can change; for a specific dispute, contact the Landlord and Tenant Board or a legal clinic.