Housing on a Budget

When it comes to finding a good place to live in, many people encounter a lot of obstacles.

Prices being a major one. CBC Canada reports, that according to the CMHC, as of January 2023, the average monthly rent of a:

Basement is $1700
Bachelor apartment in Toronto is $1750;
One-bedroom apartment is $2.200;
Two-bedroom apartment is $2.600.

 Understanding what a basement, bachelor or apartment is:

Basement: A basement is part of a building that is either partially or completely below ground level.

Bachelor: A bachelor apartment is one that combines the living, kitchen, dining and sleeping areas all within one room, along with a separate bathroom. Bachelors commonly have less square footage than one- or two-bedroom apartments and are usually occupied by just one person.

Apartment: With a one-bedroom apartment, rental home seekers can often expect an apartment layout with a single living and dining space, a separate kitchen area, and separate bedroom.

Recommendations if you are looking for a place in Toronto:

One of the most important things about renting in Toronto is being prepared when you find your ideal place:

  • Have your deposit ready: To rent an apartment in Toronto, you’ll need to provide first and last month’s rent. Most landlords will require it to be a certified cheque or bank draft.
  • Prepare your references: Any good landlord will check your references before agreeing to rent their unit to you. And please provide cell numbers for easy reference checking!
  • Get a Confirmation of Employment letter: You’ll need to prove that you’re employed or otherwise financially viable to rent in Toronto. And don’t forget to make copies in case you don’t get the first place you apply for.
  • Do a credit check on yourself and have it ready to provide to a prospective landlord. Most landlords will require it – you can order one online at Equifax for $23.95 (or order one via mail for free–it just takes longer).

Here are some websites where you can find good places to rent:

  • Condos.ca
  • Rentals.ca
  • PadMapper
  • Rent Seeker
  • Kijiji
  • Apartamate
  • Toronto Rentals
  • Zillow 
  • Zumper

You can also set up a personal Google Alert for any new listings featuring key words (like 1-bedroom, Danforth for instance.)

Good luck!

Always on your side!

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