Apartments for Rent Made Easy



Part 1:

One of the most challenging and intriguing problems that face potential short term renters is deciding on the type of apartment they want to rent.

One consistent area of interest we often hear feedback from is the choice option between furnished and un-furnished apartment rentals. The sacrifice or trade-off between quality and cost could make the decision making process somewhat intriguing.   If you’ve been shopping around for furnished apartments in Toronto on RentSeeker.ca, or in any city in Canada, you probably will have noticed that the asking price for one is more then then unfurnished apartments. This might actually be pretty good value and is due to a number of reasons. In order to properly and fairly assess the value of a furnished apartment, it is worthwhile to understand the landlord or building manager’s perspective. From the owners perspective, an individual looking to rent a furnished apartment is someone who probably wants to be catered to, and is likely only there for a short time. S/He would probably expect that the utility bills be set up under the landlords name instead of having to deal with the headaches themselves. While this might not be the case in your particular circumstance, this is sometimes an assumption. Let’s break down some of the the cost factors and value:

• New Furniture

The Landlord will buy furniture to place into the apartment. This can range anywhere from a simple couch, table and chairs to full towel service, free TV and the more. Whatever it is, understand that the landlord has to charge more for these additional expenses

• Repairs.

You might be the nicest most considerate guy, the type of person that never puts down a glass without first placing a coaster; however the landlord will operate under the assumption that some furniture is bound to get damaged and will increase his price to cover any real or imagined damage. This might be able to negotiated, as some landlords would prefer a security deposit and if there are no damages would refund it at the end of the lease period. Consider if it would be easier to pay a lump sum upfront and possibly have it returned, or to pay a little more every month.

• Short term.

As we said, most furnished apartment rentals in the GTA as well as nearly everywhere are for the short(er) term, this means that in between every tenant, the landlord must go in to the apartment, and in most cases, paint all the walls, and hire professional contractors to enhance the suite appeal. In a typical unfurnished apartment rental, the tenant is usually there for a much longer period of time making theses checks more infrequent and thus less of an expense from an owners perspective.

• Utilities.

Sometimes a short term tenant does not want to deal with the hassle of setting up his or hers own account with electric hydro gas etc. The landlord will often set up the features under their name and estimate the approximate usage and / or by passing the bill on to the tenant. Many unfurnished apartment rentals in Toronto and other cities include hydro in the rent.

While the price of a furnished apartment will probably run you more money per month, the added benefit for short term renters, namely furniture, and also often better service might end up being worth it

PART 2:

So you decided to rent a furnished apartment rental, and are now wondering, what are some of things I need to ask and know. Well, our team here at RentSeeker.ca, came up with some ideas for you:

1. The first question you should ask is for them to give you an itemized list of the furniture that is included in the apartment and the condition that it is in. For example;

• Couches
• End tables
• Bed(s)
• Kitchen table
• Lamps
• Televisions
• Toaster ovens
• Chairs
• Microwave
• Dishes
• Cutlery
• Crib

and…well, you get the idea.

2. Another important question to ask is if the rent price includes the furniture or if there is a separate fee for that. You don’t want to move in only to realize that there is another fee on top of the one you are paying already.  Know how much the total bill would be at the end of every month!

3. Ask  if utilities are included. This can vary by Landlord, so make sure to ASK. The same holds true regarding cable TV, phone lines, etc,.

4. Ask  if there is a security deposit for the furniture. Some landlords instead of charging for repair will often ask for a deposit to cover any potential damage that might accrue. This can work out to your benefit as it means that if you are careful you wouldn’t have to pay anything for repairs. However the downside is that you have to give a lump sum in advance. This is often negotiable so ask your landlord what arrangements you can work out with them.

5. Find out what type of amenities the building and area offer. Sometimes  newer built  furnished property rentals will offer a higher standard of amenities and services on site.

These are some questions we came up with that you might wish to ask your landlord before you commit to  your  rental agreement. Think of your own questions and post them and share them on RentSeeker.ca on twitter: http://www.twitter.com/rentseeker — so that others can benefit from your ideas and experiences!

-The RentSeeker.ca Team

“Apartment Rentals Made Easy”

Searching for an apartment to rent in large cities like Toronto, Ottawa, Edmonton, and cities across Canada becomes slightly more complicated when you have children. As a parent you want to carefully research your options and consider your children’s needs, before committing to a particular apartment.

Find yourself in that position? Firstly, we recommend using an online apartment search service (which is FREE for renters), such as Rentseeker.ca, which will allow you to conduct your apartment search from the convenience of your own home or office, based on your specific criteria. Multiple rental listings can be found in most popular cities across Canada. It will save time, money and effort by having the ability to view details, photos, videos, maps, area amenities, and even the company owner information. With that information all available online at your convenience,  you can route your map and head out to visit the apartments you found fit your criteria.

Here are some more tips you might want to look for when searching for an apartment rental with children or a family in mind:

Safety

As children, we have always been taught safety first. The same holds true in your apartment search. Think of the area that you plan on living in and do some research regarding the neighborhoods reputation. You can also walk around and see whether the place is well kept and maintained. Talk to potential neighbors if you can, and find out how they feel regarding their neighborhood.

Building

Nowadays many buildings come with security features such as concierges, video cameras and security patrols. They are a great deterrent, making it the property less of a target for crime. Rentseeker.ca offers a features on its website that allows you to check off a box that will only show you apartments in your area that have these or similar security measurements.

Street

Parents might also want to consider the location of the apartment in relationship to the street. An ideal location would be an apartment that does not face or back up to a busy street or intersection. However if it must, check to see if it has a fenced in area or backyard where the children can run around in and play safely.

Local Area & Amenities

One of the primary considerations of parents is the location of the apartment. Is it near Schools? Shopping? Transportation?

Rentseeker features  WalkScore in all rental listings. What this does is rate the area in terms of its ease of accessibility to schools, shopping, transportation etc.. When you search for an apartment to rent in any city in Canada, this tool can be a extremely useful to help gather information about the area. Think of the amount of time and effort that can be saved if you find an apartment near your children’s school, rather then having to commute.

With those tips in mind, and using RentSeeker as your source for apartments for rent across Canada, you’ll understand why RentSeeker.ca =  Apartments for Rent Made Easy

The RentSeeker.ca Team

If you’re searching for an apartment and you don’t know what you need to expedite and approve your application process, below is a short list we’ve compiled to help. It pays to be prepared so you don’t lose out on the place of your dreams, when you finally do find your new home. Here’s a list of  some common requirements and why building managers / rental agent ask for these specific items.

Once you understand that the entire reason that Landlords ask for these documents is to protect the building and community of renters,  it’s a little easier to swallow. So here’s the list of requirements and some reasons for why they are required:

An Application:

Most Landlords / Property Management companies will require an application to be filled out with some basic information, as well as some personal and background information.  This is  industry standard and common practice.  It allows the Landlord the ability to research information before renting out a unit, which is a form of extending credit.

Photo ID:

With an application, Landlords will require photo ID to make sure you are who you say you are. It is also in case an emergency were to occur and a Landlord needs to know everybody who lives in the building. Lastly, it’s also very handy if you lose your key and you’re asking for us to let you into your home. We’ve all heard of identity theft and photo ID is a lot safer than non photo ID.

SIN Card (number):

Many Landlords and Property Management companies will ask for your SIN card (number). There’s a reason for that. Your SIN number is the easiest and most accurate way to get your credit check. Yes, with permission, a Landlord can use your name and birthdate to check your credit, unfortunately sometimes without accurate information, even if you do have a credit history, no matching report comes back. This can delay the application process and ultimately moving in to your new place.

Credit Report:

Credit and past payment history is essential to any business and individual. By obtaining a credit report, Landlords can decide who fits their criteria of a financially stable renter, and also verify  employer and previous addresses using the credit report. This is valuable as it provides an independent source of information in an era of cell phone verifications and unverifiable job letters.

Income/Debt Ratios:

Just like a banker assisting with a mortgage, landlords  like to assess if an apartment is affordable for you. There’s a sizeable amount of people who would otherwise get into financial trouble if they were approved for payments that might be too expensive for their lifestyle. Yes,  housing is important but so are groceries and other payments.  A good industry wide rule of thumb is a renter should be paying about 30% of net income to rent (or less if you have other credit card debt or student loans). This amount is “likely” sustainable rent to pay.

Bank Letters:

Landlords, like other businesses that extend credit,  like to check if you have a bank account (hopefully with some money in it). Again this speaks to financial stability and the ability to pay the rent over time. Savings go a long way towards getting your application approved. If you’re a New Canadian with limited, or no job or credit history, this can be a deciding factor for a Landlord to feel assured of financial stability.

Employment Information:

Again, as all businesses that extend credit,  Landlords need to know that you have a source of income to cover the monthly rent and how stable that source is.  If you work for a larger company, speak to Human Resources before applying and fill out the form required by the Privacy Act so they can confirm employment properly. If you are self employed, you will be required to show some proof of income as well. Tax statements,  business bank statements that show regular customer deposits, etc will be requested.

Bottom line:

You Want To Rent and Landlords Want To Rent To You.

The bottom line is Landlords / Property Managers WANT to rent apartments, but cant afford to take risks of dealing with the negative consequences from not doing their due diligince.  It is not an easy process to deal with an eviction and many times could potentially affect other (otherwise good) tenancies within the building as well.

Unfortunately, for the same reason that your bank has you swipe your card every time you do a transaction and every store has security and loss prevention, Landlords also have to double and triple check every piece of information they get. So come prepared and make it easy for the building manager /rental agent to approve your application by providing the necessary documents for them to “approve” it.  Landlords  aren’t being nosey and trying to invade privacy, they just want to provide a valuable service and keep current residents happy. Once you move in, you’ll appreciate the hard work they do to ensure their residents the services they deserve.

Happy Apartment Hunting!

-The RentSeeker.ca Team

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