Finding the perfect apartment can be a stressful ordeal, especially in a hot real estate market and when you don’t know where to begin. The easiest way is to start by filtering your search requirements in the right way. Begin by noting down all the amenities and luxuries you want in your new home, then separate them into 3 categories:

  • Must-haves: Features or functionalities that are your topmost priority, i.e., number of rooms, a balcony, laundry services, proximity to your work, parking space etc.
  • Neutral items: Amenities that would be good to have, but you can manage without them or find alternate solutions, i.e., an on-site superintendent or a gym.
  • Wants: Luxury amenities or features that you do not seek out but would be terrific add-ons, i.e., a sauna, jacuzzi, study corner, or a rooftop movie theatre.

Once you have the list ready, you are all set for the hunt! Go to Park Property, select your location and short-list apartments.

Now that you have your list of apartments ready and maybe made appointments for a couple of viewings, let’s jump into some of the tedious yet essential things to be mindful about.

Who is in charge of renting the apartment?

Having a reputable, professional management company manage the property you're renting is so important. It means you can be confident that repairs and maintenance will be attended to promptly.

Be aware of scams.

Unfortunately, renting an apartment through the internet exposes you to the possibility of falling victim to fraud. If a listing appears too good to be true, it just may be.

It could be a trap if you contact someone about an apartment listing from an authentic website and receive a response that has nothing to do with the unit you enquired about. So make sure you always inspect apartments before signing legal documents or making payments.

Do not transfer money.

Asking renters to send payments for a home that does not exist is typical of rental scams. You'd think, who falls for this? But some con artists are surprisingly compelling. Scammers often ask for a nominal deposit to book a viewing.

An honest landlord or professional management service will never require you to make a deposit payment before meeting with you and conducting either an in-person or virtual apartment inspection. You are not required to make any payments until you legally enter into a lease contract. 

Put everything in writing.

Be cautious of handshakes deals, as they are not covered by any legal protection. If you move in without signing a lease agreement, you are at risk of being evicted without notice, losing your deposit, and you have no legal right to request home repairments requests.

A landlord or property management company should provide you with a written lease that details both your and the landlord's obligations.

Research the history of the building.

Before you move into a new apartment, it's always a good idea to do some research on the building's history. This is particularly crucial if you're thinking of renting an apartment that you haven't inspected. During this process, investigate the management company and their reputation as well. In addition, you may want to consider looking into the building's renovation history and whether there are any significant structural damages.

Park Property is a highly reputable and professional property management company. We have a portfolio of buildings across Ontario. If you’re looking for a new space to call home, reach out to a member of our team. You can also check out our available units at www.parkproperty.ca.