Today, more families and individuals are turning to rental properties than ever before. In this segment of The Marc and Mandy Show, Ty Lively of Greenrock Real Estate Advisors shares what to look for when looking for an apartment rental.
Q: Before renting a home, what clauses should I be aware of when signing the lease?
Ty Lively: One of the top things consumers need to be aware of before signing the lease is the utilities that are involved in the lease. Is hyro included? It is the landlord’s responsibility to notify the future tenant of what hydro was for that particular unit. You also want to inquire about parking fees, locker fees, bike storage fees, and pet policy fees. You also want to inquire about application cancellation fees, any transfer fees, any subletting fees, as well as termination policy.
Q: When looking for an apartment, how can I narrow my search?
Ty Lively: The best way for a rent to narrow down their apartment search is to make a priority list and stick to it. This could involve anything from prioritizing the location next to a great school or maybe you’d prefer to be closer to transit or maybe you’d prefer that your building has a pool or gym.
Q: What’s the number one thing to consider when renting a place?
Ty Lively: My number one tip to anyone searching for an apartment is that you should trust your senses. And by this I mean, trust your eyes, trust your ears, and trust your nose. So when you’re going to the apartment showing, be contentious: is there any debris in the building; how does the landscaping look; are the hallways clear; do you notice any foul smells; is there much noice inside the unit?
About Greenrock Real Estate Advisors:
The team at Greenrock Real Estate Advisors has been providing industry-leading advice in the Toronto real estate segment for over 50 years. They provide asset management services, project management services, portfolio administration services, commercial property management services, and residential property management services, amongst others. To learn more, visit the Greenrock Real Estate Advisors website.
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