Turning your Toronto home into a rental offers steady income and long-term growth.Holding onto your property allows you to benefit from Toronto’s resilient housing market while earning monthly rent and building equity over time.
Understanding Ontario’s rental laws is crucial for success.Landlords must comply with the Residential Tenancies Act, maintain safe and habitable units, follow proper procedures for rent, deposits, and notices, and respect tenant privacy to avoid disputes or penalties.
Professional management can simplify and protect your investment.Hiring a property management company ensures legal compliance, effective tenant screening, and timely maintenance, helping you maximize returns and minimize stress.
If you own a home in Toronto and are debating whether to sell or rent it out, holding onto it as a rental may be your best long-term play. The city’s housing market, while cyclical, has consistently shown resilience and growth over time. By turning your property into a rental, you can earn steady monthly income while watching your asset appreciates in value.
But becoming a landlord is more than just finding a tenant and collecting rent. Ontario’s rental laws are detailed and require diligence to stay compliant. Here’s a practical guide by CGM Toronto Property Management to help local homeowners transition smoothly from ownership to property investment.
Start by identifying your property’s strengths. Toronto’s neighbourhoods vary widely. A home in Leaside or The Beaches attracts those looking to live near schools and parks, while a condo near Union Station appeals to renters looking for access to downtown amenities.
Ask yourself who is most likely to rent your property? Understanding your target tenant allows you to craft listings, pricing, and terms that attract the right audience.
Understand Your Legal Responsibilities as a Landlord in Ontario
In Ontario, the Residential Tenancies Act (RTA) governs landlord-tenant relationships. Landlords must keep the rental unit safe, well-maintained, and habitable at all times. That includes:
Working plumbing, heating, and electrical systems.
Secure locks, doors, and windows.
Proper garbage disposal.
Smoke and carbon monoxide alarms in working order.
Prompt repairs for pests, leaks, and mold.
Failing to meet these standards can lead to tenant complaints through the Landlord and Tenant Board (LTB), repair orders, or rent abatements. Staying proactive with maintenance not only avoids penalties but also builds trust with your renters.
Outline Clear Expectations for Tenants
Tenants in Ontario also have defined responsibilities, including:
Paying rent on time.
Keeping the unit reasonably clean.
Preventing damage beyond normal wear and tear.
Respecting neighbours and local bylaws.
Include these obligations in your lease agreement and review them before move-in. Clear expectations reduce misunderstandings and foster mutual respect, two things every successful tenancy depends on.
Know the Rules Around Rent, Deposits, and Notice Periods
Ontario’s rental laws are precise about money and notice rules.
They detail rules around:
Rent Increases – Allowed once every 12 months, following the provincial guideline unless the unit is exempt, such as new builds after 2018.
Deposits – You can request a deposit equal to one month’s rent, used only for the last month of tenancy, not for damages or missed payments.
Notice Periods – For month-to-month tenants, you must provide 60 days’ notice before ending the tenancy for valid reasons. Tenants, in turn, must give 60 days’ written notice before moving out.
Understanding these guidelines helps prevent disputes and ensures you stay compliant with provincial regulations.
Evictions in Toronto, Ontario are tightly regulated and must go through the Landlord and Tenant Board. You cannot change locks, remove belongings, or cut utilities on your own, such actions are illegal “self-help” evictions. Common eviction grounds include non-payment of rent, persistent lateness, property damage, illegal activity, or landlord use of the unit. Always document communication and file the correct forms through the LTB.
Respect Tenant Privacy and Entry Rules
In Ontario, landlords must give at least 24 hours’ written notice before entering a unit for repairs, inspections, or showings, and entry must be within reasonable time. Emergencies, such as floods or gas leaks, are among the exceptions. Respecting privacy not only fulfills your legal duty but also builds trust, which is the foundation of long-term tenancies.
Keep Your Property Market-Ready
Toronto’s rental market is competitive. A well-maintained home attracts quality tenants and fills faster.
Before listing your property:
Repaint and deep-clean.
Replace dated fixtures or flooring if needed.
Test all appliances and lighting.
Enhance curb appeal with fresh landscaping or outdoor lighting.
Professional photography and a well-written listing can make your property stand out. Highlight proximity to TTC access, local parks, or shopping districts, and other features that matter to urban renters.
Screen Tenants Thoroughly
A strong tenant screening process is your first safeguard against financial and property issues. Verify the following before signing a lease:
Employment and income.
Credit history for payment reliability.
References from previous landlords.
Rental history to confirm no evictions or major disputes.
Taking the time to vet applicants properly reduces the risk of arrears, damages, or sudden move-outs.
Consider Hiring a Property Manager
Managing a Toronto rental seems simple until a leak, late-night emergency, or LTB hearing arises. A property manager can handle daily operations and ensure compliance. A skilled team will:
Market your property across top platforms.
Screen and place quality tenants.
Handle rent collection and accounting.
Coordinate maintenance and inspections.
Manage lease renewals and legal notices.
Despite a management fee, professional services can help you maximize long-term returns and prevent you from making costly mistakes.
Bottom Line
Turning your Toronto home into a rental can be a powerful and rewarding way to build long-term wealth. You’ll gain monthly income, maintain ownership in a high-demand city, and potentially enjoy property appreciation for years to come. But success requires understanding Ontario’s rental laws, staying proactive about maintenance, and managing tenants with care and professionalism.
If you prefer to keep your investment hands-free while maximizing its performance, partnering with a trusted local property management company can truly make all the difference. Our local experts handle tenant placement, compliance, maintenance, and reporting, so you can focus on growth, not day-to-day management. Contact us today to protect your investment and enjoy stress-free returns.
https://i0.wp.com/cmgtoronto.com/wp-content/uploads/2025/11/a-for-rent-sign-in-a-front-yard.jpg?fit=640%2C427&ssl=1427640SEO Managerhttps://cmgtoronto.com/wp-content/uploads/2023/11/Toronto-Property-Management-Company-CMG-Toronto.pngSEO Manager2025-11-19 19:25:372026-04-15 20:05:37How To Rent Out Your House in Toronto, Canada
Local Market Trends Directly Influence Rental Income – Factors such as population growth, employment rates, new housing developments, and shifts in tenant demand all shape rental pricing. Understanding these trends allows landlords to set competitive rates that balance profitability with occupancy.
Adapting to Economic and Demographic Shifts is Crucial – As neighborhoods evolve and renter preferences change, property owners who monitor local market conditions, such as job growth or housing supply, can make timely adjustments to maintain strong rental performance.
Professional Property Management Maximizes Returns – Partnering with an experienced property management company helps landlords navigate market fluctuations, ensure legal compliance, and optimize operations. This professional support enhances efficiency, reduces stress, and safeguards long-term cash flow.
Are you looking for ways to maximize your rental income? Local market trends play a significant role in determining rental pricing, directly influencing your returns. Factors such as population growth, employment rates, new housing developments, and shifts in demand all contribute to fluctuations in rental values. When an area experiences economic expansion or an influx of residents, rental prices typically rise due to increased competition for available housing.
On the other hand, an oversupply of rental units or economic slowdowns can lead to lower rental rates. Additionally, evolving neighborhood amenities, school quality, and infrastructure improvements can enhance an area’s desirability, further driving up rent. Understanding and responding to these local market trends allows you as a landlord to set competitive, profitable rental rates while maintaining high occupancy levels.
In this article, we at CMG Toronto Property Management will explore how market trends impact rent prices and why Toronto is a good location for your next real estate investment?
Here are some market trends residential landlords need to keep in mind before adjusting rent prices:
Population Growth
Population growth is one of the most influential factors affecting rental pricing. When more people move into an area, whether due to job opportunities, lifestyle appeal, or local amenities, the demand for housing increases. As available rental units become scarce, competition among prospective tenants drives prices upward, giving landlords an opportunity to increase cash flow.
Areas experiencing steady population growth often see long-term rent appreciation, making them attractive to real estate investors. Conversely, if population growth slows or declines, demand may weaken, leading to more stable or even reduced rental rates.
If this happens, landlords should consider methods that increase income and property value without actively touching rent pricing. Offering tenants desirable amenities and property upgrades can help keep vacancy rates low and income steady during periods of lower demand.
Employment Rates
Employment rates have a direct correlation with rental pricing, as a strong job market typically leads to greater housing demand. When employment opportunities expand in a region, more people move to the area seeking work, increasing the need for rental housing.
Higher employment also boosts renters’ financial stability, allowing landlords to justify higher rent prices.
Shifts in Demand
Shifts in tenant demand, driven by lifestyle preferences, demographic changes, or economic factors, can significantly influence rental pricing. For example, rising demand for urban living, remote-work flexibility, or access to quality schools can cause certain neighborhoods or property types to become more desirable. Understanding demand trends helps property owners adapt pricing strategies to remain competitive and attract the right tenants.
New Housing Developments
The construction of new housing developments impacts rental pricing by altering the balance between supply and demand. When new apartments or homes enter the market, the increased supply can temporarily ease housing shortages, and reducing rent prices.
However, if these new developments are luxury-oriented or concentrated in certain neighborhoods, they may raise overall market expectations and drive up prices for nearby properties. For investors, keeping an eye on future construction trends is essential to anticipate how supply changes might affect rental income potential and your management approach.
Why Investing in Toronto Property Can Still Be a Smart Move
Toronto’s rental market presents investors with opportunities to maximize rental income and returns.In fact, despite what some may think, market uncertainty can still create opportunities. With lower prices and reduced competition, buyers have stronger negotiating power. This could therefore be a time to consider expanding your investment portfolio.
During these shifts, you can also consider renovating a property and renting it to yield solidreturns before appreciation.Toronto also continues to attract strong population growth and development interest. As a result, real estate here remains a compelling option for motivated and informed investors.
Why Hiring a Property Manager Makes Sense
If you’ve invested in rental properties, hiring a property management company can reduce stress and offer solid returns. Some benefits of working with professionals include:
Time & Stress Savings – Property managers free you from daily hassles, handling tenant screening and placement, inspections and maintenance, communication, rent collection, and legal compliance. This is especially helpful if you’re scaling or managing from rental properties afar.
Legal Expertise & Compliance – Good property managers understand federal, provincial, and regional laws and can enforce them fairly, reducing your legal risk and improving landlord-tenant relations.
Maximizing Cash Flow Through Smart Operations – A professional property management company in Toronto, ON can market rentals effectively, screen tenants thoroughly, negotiate repair costs, and even help reduce vacancy time. These efficiencies help buffer against temporarily lower rent rates by protecting your property’s value and cash flow.
Bottom Line
Local market trends have a major impact on rental pricing and overall investment returns. Key factors such as population growth, employment rates, new housing developments, and shifts in tenant demand directly influence how much landlords can charge for rent. For landlords, staying informed about these trends is essential to setting competitive rates, maintaining occupancy, and protecting profitability.
Toronto remains a particularly strong market for investors. Even during market fluctuations, opportunities exist for investors to expand portfolios, renovate properties, and generate steady income. Working with an experienced property management company like CMG Toronto Property Management ensures that landlords can adapt to shifting market conditions, remain legally compliant, and maximize cash flow through expert oversight and efficient operations. If you’re looking for a reliable property management team, contact CMG Toronto today!
https://i0.wp.com/cmgtoronto.com/wp-content/uploads/2025/10/a-group-of-employees-working-at-a-desk-together.jpg?fit=640%2C427&ssl=1427640SEO Managerhttps://cmgtoronto.com/wp-content/uploads/2023/11/Toronto-Property-Management-Company-CMG-Toronto.pngSEO Manager2025-10-24 15:39:022025-10-24 15:39:55The Impact of Local Market Trends on Rental Pricing
Property management is about value, not just cost – Hiring a property manager covers more than rent collection, it provides time savings, legal compliance, and protection against costly mistakes. While fees vary, the benefits often outweigh the expense by reducing vacancies, disputes, and risks.
Fees depend on services and structure – Companies may charge a percentage of rent, a flat fee, or a mix of both, with additional charges for leasing, renewals, inspections, and more. Understanding what’s included in your management plan is essential for making fair comparisons and budgeting accurately.
Professional management protects your investment long-term – Self-managing may seem cost-effective, but it can lead to stress, legal errors, and higher vacancy rates. A reliable property management partner like CMG Toronto ensures smooth operations, compliance with Ontario laws, and consistent rental income, helping owners focus on growth.
Being a residential landlord in Toronto can be a rewarding and profitable endeavour. However, it can also be quite daunting to take on so many responsibilities on your own. From tenant screening and rent collection to marketing and maintenance, you have to have the skills and times to effectively manage your investment properties and address tenant requests.
With so much to do, many owners look at hiring a property manager. But, what does it really cost? The answer depends on how companies charge, what services are included, and the type of property you own. We at CMG Toronto property management break it down so you know exactly what to expect.
Property management covers more than just collecting rent. Think about all the moving parts: marketing a vacant unit, screening applications, handling disputes, and staying on top of Ontario’s tenancy laws. That is a lot for one person.
When you hire a property manager, you are paying for three things at once:
Time – Mo more late-night repair calls or hours spent sifting through tenant applications. Property managers take on the day-to-day tasks on your behalf.
Knowledge – A professional property management company knows the laws and processes inside out. This will keep your rental business legally compliant and protected.
Protection – With the help of a professional property manager, you’ll experience fewer mistakes, vacancies, and disputes. This will save your money down the line.
How Companies Charge for Services
Most firms stick with one of two setups: a percentage of monthly rent or a flat fee.
Percentage Model – With this model, landlords will be charged a percentage of collected rent to cover the management fees.
Flat Fee – With this pricing model property owners page a flat monthly fee for a certain set of services.
Some companies also offer a mix of the two, charging a small flat fee plus a reduced percentage. The fees and percentages for either model can vary based on services rendered, property size and type, and location. As such, it is best to fully understand what’s included in your management plan.
Extra Fees You Might See
Monthly fees are only part of the picture. Many companies can offer additional fees for:
Leasing – This covers advertising, showings, and screening. Often half or one full month’s rent.
Lease Renewal – These are smaller fees when a tenant signs on for another term.
RentalSetup – This is usually a one-time fee to onboard a property.
Inspections – Move-in, move-out, or scheduled checks may carry a charge.
Depending on the company, these can be included in the standard management packages or be seen as add-ons. For example, CMG Toronto includes inspections within its management services at no additional cost. Knowing about what you’re paying for upfront helps you compare Toronto, Ontario companies fairly and budget accordingly.
Most full-service companies market rentals with professional listings and photos and screening tenants with background and credit checks. They also assist with rent collection, late payment follow-ups, and financial reporting. Additional services included in management plans include:
Contractor coordination for repairs and upkeep.
Lease enforcement and handling of disputes.
Compliance with the Residential Tenancies Act in Ontario.
The Do-It-Yourself Option
Plenty of owners consider managing their own units. On the surface it may seem like a great way to save money. However, without the necessary time, skills and resources, renting out your home on your own can make costly mistakes.
Self-managing requires owners to take late-night maintenance calls, spend weekends showing units, and handle difficult conversations about rent or lease breaks. You also have to remain informed on changes to local and provincial legislation as well as market trends. Skipping professional management to save money can backfire. Common risks of self-management include:
Higher vacancies from weak marketing.
Trouble with the Landlord and Tenant Board after legal mistakes.
Stress from tenant disputes and emergencies.
Paying more for repairs without vendor discounts.
If you’re a first-time landlord or looking to expand your portfolio it’s wise to work with professionals.
Comparing Companies the Smart Way
Price matters, but value matters more. When interviewing companies, ask:
What exactly is covered in the monthly fee?
How much are leasing and renewal charges?
Do you add a surcharge on maintenance?
Can I see a sample of your financial reports?
How do you handle disputes with tenants?
Is It Worth It?
While professional property management is not free, the benefits outweigh the costs for most owners. You save time, reduce stress, and keep your real estate investment protected. To assess if it’s right for you, consider how much you could be saving long-term. If your goal is to generate passive income, property managers allow you to take a hands off approach, making their fees worth while.
Bottom Line
Property management fees can vary based on a number of factors. Ultimately, owners have to look at their short and long-term goals as well as their current strengths and weaknesses.
Hiring CMG Toronto means gaining a partner who helps you grow your investment safely. If you’d like to streamline the management of your rental properties, contact of team of professional property managers today!
Toronto’s strong economy, population growth, and rental demand make it a top destination for real estate investment.
Investors benefit from long-term property appreciation, low vacancy rates, and a diverse, reliable tenant pool.
Professional property management helps streamline operations and improve rental profitability in a competitive market.
Toronto, the largest city in Canada and one of the most multicultural cities in the world, is often considered a top-tier destination for real estate investors. With a growing population, a strong job market, and a stable political climate, Toronto continues to attract both local and international buyers.
At CMG Toronto, we recognize the city’s unique appeal for rental property owners seeking long-term opportunity and security.
Here are the top reasons to consider investing in Toronto.
One of the biggest draws for investors is Toronto’s resilient and diverse economy. The city is Canada’s financial and business capital, home to major banks, global tech firms, and large corporations. Key industries such as film and television production, education, health care, and real estate also contribute to its economic strength.
A strong economy leads to job creation and higher income levels. As people move to Toronto for work, demand for rental housing increases. This creates a reliable source of rental income and protects investors during economic downturns.
2. High Population Growth and Migration
Toronto’s population has seen consistent growth over the years, and that trend shows no signs of slowing down. As a top destination for immigrants, the city benefits from Canada’s welcoming immigration policies. More than half of Toronto’s residents were born outside of Canada.
Newcomers often choose to rent before buying, driving steady demand for rental units. Investors who offer well-maintained properties in accessible neighborhoods can attract families, students, and young professionals from this growing population.
3. Booming Rental Market
Toronto’s rental market remains one of the most active in the country. High home prices make renting the more practical choice for many, especially among millennials, students, and professionals who prioritize flexibility.
This creates a stable pool of renters. Well-located and well-maintained units tend to command competitive monthly rents and experience low vacancy rates. In popular neighborhoods near transit lines, business districts, and universities, listings often receive multiple applications shortly after posting.
4. World-Class Education and Healthcare
Toronto is home to top-ranked institutions such as the University of Toronto, Toronto Metropolitan University, and George Brown College. These schools draw thousands of local and international students each year, many of whom prefer off-campus housing.
The city also offers excellent healthcare, with leading hospitals and research centers. This attracts families, retirees, and skilled professionals, all of whom seek quality rental housing close to services and amenities. These factors help investors attract and retain quality tenants.
5. Excellent Public Transit and Urban Planning
Toronto’s public transit system, managed by the Toronto Transit Commission (TTC), makes commuting easy across the city. Access to reliable transportation is a major priority for renters. Properties near subway stations, streetcars, or major bus routes typically see higher rental income and longer tenant retention.
Ongoing investments in walkability, green spaces, and infrastructure upgrades continue to raise property values and improve quality of life. These urban planning efforts add long-term value to rental investments in the city.
Although the market experiences occasional cooling, the long-term trajectory of Toronto real estate is upward. Limited housing supply, combined with steady demand, drives property appreciation over time.
Rental property owners benefit not only from consistent rent payments but also from increased property value. Whether investing in a downtown condo or a duplex in a residential neighborhood, Toronto offers real potential for long-term capital gains which is why one of our top tips for investing in Toronto is to know which type of property works best for you.
7. Multicultural and Livable City
Toronto consistently ranks among the world’s most livable cities. Clean streets, low crime, abundant green space, and a vibrant arts and dining scene make it a welcoming place to live.
Its multicultural population includes communities from around the globe. This diversity attracts international students, expats, and young professionals who often choose to rent. As an investor, you gain access to a broad and dependable tenant base that values safety, amenities, and inclusivity.
8. Government Support and Investor-Friendly Environment
Canada’s legal and financial systems are transparent and stable, giving investors peace of mind. In Toronto, landlord-tenant laws offer protections to both renters and property owners, helping maintain a fair and manageable rental market.
Mortgage options are available for both Canadian and foreign investors. Although regulations such as rent control and foreign buyer taxes exist, Toronto still offers a more favorable environment than many global cities of similar size. Working with knowledgeable professionals helps investors navigate these policies effectively.
Why You Should Work with a Professional Property Management Company
Managing a rental property in a market as competitive as Toronto requires time, local knowledge, and experience. From marketing and tenant screening to maintenance and legal compliance, managing day-to-day operations can quickly become overwhelming.
This is where a professional property management company like CMG Toronto becomes essential. Property managers help reduce vacancies, protect your investment, and maintain positive relationships with tenants. With their support, you can minimize risk, improve cash flow, and focus on other priorities.
Experienced property managers also understand Toronto’s rental trends, pricing, and tenant expectations. Their expertise helps ensure your property remains competitive and profitable year-round. Whether you’re a local owner or an international investor, the right property management team can make a significant difference in your returns.
Toronto offers one of the most compelling real estate markets in Canada. Its economic strength, growing population, cultural vibrancy, and high demand for rental housing make it a top choice for property investors.
By working with a professional property management company, you can simplify the process and maximize your returns. To learn more or get started, contact CMG Toronto today.
Disclaimer: This article is for informational purposes only and does not constitute legal, financial, or investment advice. Please consult with qualified professionals before making any real estate decisions.
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There is little doubt that it is easier to get a home mortgage today than it was last year. The Mortgage Credit Availability Index (MCAI), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years. In fact, in just the last year:
More buyers are putting less than 20% down to purchase a home
The average credit score on closed mortgages is lower
More low-down-payment programs have been introduced
This has some people worrying that we are returning to the lax lending standards which led to the boom and bust that real estate experienced ten years ago. Let’s alleviate some of that concern.
The graph below shows the MCAI going back to the boom years of 2004-2005. The higher the graph line, the easier it was to get a mortgage.
As you can see, lending standards were much more lenient from 2004 to 2007. Though it has gradually become easier to get a mortgage since 2011, we are nowhere near the lenient standards during the boom.
“Measures the percentage of home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates … it is easier to get a loan.”
Here is a graph showing their findings:
Again, today’s lending standards are nowhere near the levels of the boom years. As a matter of fact, they are more stringent than they were even before the boom.
Bottom Line
It is getting easier to gain financing for a home purchase. However, we are not seeing the irresponsible lending that caused the housing crisis.
Source: The KCM Team | https://www.keepingcurrentmatters.com/2017/11/22/bubble-alert-is-it-getting-too-easy-to-get-a-mortgage/ | 11.24.2017
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With a rental lease set to expire, most landlords want to show the apartment as often as possible, which means they’ll need a notice of entry to get into your place. They’ll be eager to find new renters, but the law states they can’t just unlock your door at any time and pop in for a visit. They also aren’t allowed to show the apartment so many times that it creates a nuisance for you and disrupts your life.
If you’re a renter, read on for the rules of landlord entry, so you know what to expect.
Landlords are legally obligated to provide a renter with notice that they’ll be entering the premises—for any reason. Whether that’s to show the property to a potential renter or to fix a leaky faucet, the law is clear: Legal tenants have the right to quiet enjoyment of their home.
“The landlord must provide reasonable notice in writing (generally, 24 hours) of his intent to enter—and to do it only during normal business hours,” explains Bryan Zuetel, a Realtor® and real estate attorney from Irvine, CA. If a tenant is home and consents to entry, the 24-hour notice can be waived. Then again, it is OK for a tenant to deny entry to their landlord if they show up unannounced.
If the landlord intends to rent or sell the property to someone new, they may ask you to allow additional showings, Zuetel says. And depending on what’s spelled out in your lease agreement, you may have to comply. “For example, under certain conditions, a landlord may require that the tenant permit a weekend open house during regular business hours, and the landlord may provide oral notice of entry to the tenant,” he says.
So pull out the paperwork you signed if you’re worried that your landlord is crossing the line. Landlords who are following those guidelines are probably in the clear.
How often can a landlord show an apartment?
Rental law does not specifically stipulate a maximum number of times a landlord is allowed to show an apartment to prospective tenants. It does, however, provide some cover for tenants. “The landlord may not abuse the right of access, or use it to harass the tenant,” Zuetel explains.
That might sound vague, but if you do feel like your landlord is abusing the right of access and bothering you too often, you should try talking to them first, before calling an attorney. “Let them know that you are feeling stressed from all the showings and ask for a break for a few days—that seems more than reasonable,” says Holly Pasut, a Realtor with Hines and Associates Realty in Cornelius, NC. If that doesn’t help, you can then seek legal action.
Jeanne Sager has strung words together for the New York Times, Vice, and more. She writes and photographs people from her home in upstate New York. Follow @JeanneSager
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Picking a roommate is a bit different from picking a spouse, a pet, or a nice couch—it’s a giant leap into the great unknown. What are some questions to ask a potential roomie to help you separate the special someone you can happily live with from all the freaks and weirdos who will drive you nuts? After all, even if everything seems fine at first blush, once a person moves in, all kinds of unsavory habits might suddenly rear their head—and by then, you’re kind of stuck. So, before signing on the dotted line with a stranger, be sure to review this list of questions for screening purposes. Trust us, you’ll be so glad you did!
Living with a smoker is a deal breaker for many people; hence, this question is a staple on roommate matching websites.
Marin King, a real estate agent at Keller Williams NYC who specializes in rental properties, says potential roommates should absolutely clear the air not only on whether they smoke, but also on where it’s allowed if it’s allowed. For instance, some might not take kindly to seeing ashtrays on the back porch, even if it’s outdoors.
2. Are you a morning person or a night person?
Night owls and early birds don’t tend to mix well as roommates. Because you’re on opposite sleep schedules, you might feel you always have to tiptoe around. Research shows early risers and night people have different personality traits and behaviors that can make them clash worse than polka dots and plaid. (Fun, and not entirely surprising, fact: One study found that night owls, on average, consume more alcohol than morning people.)
3. What’s your work schedule?
Ideally your work schedules will be compatible, says Joe DeFilippo, a real estate agent and rental specialist with City Chic Real Estate in Washington, DC. This is especially important if you’re going to be sharing a bathroom, because you want to have ample time to get ready in the morning. (Having a roommate who’s impatiently waiting for you to get out already isn’t a great setup.)
4. Do you have pets?
Hate cats? Allergic to dogs? Well, don’t live with a roommate who has one! If you don’t mind having a four-legged friend around, though, you should still make sure your landlord allows pets, because many don’t.
5. Do you work from home?
Office dwellers might skip this question, but if you’ll be working from home, you should check to see whether you’d have the place to yourself. After all, one of the best things about working from home is that you have fewer distractions from co-workers, but your roommate could prove equally distracting, or even more so if he’s a chatterbox!
6. What do you like to do on nights and weekends?
If you enjoy hosting game night and dinner parties, rooming with a homebody can cause problems. After all, you should be able to entertain at home without feeling like you’re invading your roommate’s privacy.
Asking this question can also help you gauge if your prospective roommate is a party animal who’s going to treat your apartment like a frat house.
7. Have you ever had any issues with rent payments?
A landlord or property management company will usually look into each person’s rental history before approving a roommate, but you should still vet your roommate yourself. Why? Because if your roommate can’t pay his portion of the rent, you’re typically on the hook for paying his share. So, if someone says she’s had trouble paying rent on time in the past—or has had other issues with a previous landlord (e.g., arguments, fines, eviction)—look for a roomie who is more drama-free.
8. Are you in a relationship?
If you don’t want an unofficial third roommate, you need to set clear expectations about how often romantic partners can sleep over. This can become a big issue if your roommate’s significant other is a constant presence in your apartment; at that point, the person should be paying rent!
9. What indoor temperature do you prefer?
This might seem minor, but plenty of folks living in close proximity have strong disagreements over who controls the thermostat. This issue can also present financial concerns—if the person in the next room likes to constantly blast the air conditioning during the summer, for example, you could be looking at a fatter utility bill.
10. How often do you clean?
This is a better approach than asking someone straight up, “Are you a clean person?”—because few people will admit to being a slob. If you’re someone who can’t fall asleep if there are dishes in the sink, make sure you find someone who’s the same way. If you’re both lazy cleaners, you could agree to split the cost of a professional cleaning service once a month.
11. Are you still friends with your old roommates?
You certainly don’t have to become besties to be good roommates, but you do want someone who is pleasant and easy to spend time with. If your prospective co-tenant has had a long string of “bad roommates,” this could be a case of the pot calling the kettle black.
https://i0.wp.com/cmgtoronto.com/wp-content/uploads/2017/11/030864a4d6da2aa6e772de98ef3c04e2w-c0xd-w685_h860_q80.jpg?fit=685%2C385&ssl=1385685Hazar Mijareshttps://cmgtoronto.com/wp-content/uploads/2023/11/Toronto-Property-Management-Company-CMG-Toronto.pngHazar Mijares2017-11-09 16:24:402023-11-08 15:06:1311 Questions to Ask a Potential Roommate to Weed Out the Weirdos Fast
If you had to choose between having the perfect apartment or a sweet, sloppy, loving pet, which would you pick?
Fifteen years ago, my husband and I found ourselves in this situation when we adopted a stray dog named Rocky—all high-strung energy and cuddles concentrated in a tiny Chihuahua body. He suited us perfectly.
The only problem? We didn’t check with our landlord first.
Worse yet, we loved our apartment: The kitchen was painted a burnt Tuscan orange, the bedroom was expansive with a walk-in closet and a brilliant blue color that made us feel relaxed and right at home. The location was perfect, a quarter-mile from my favorite yoga studio and a stone’s throw from the subway. Best of all? The rent was an affordable $900.
But that dog.
After we brought Rocky home, we did the right thing. We called our landlord. We figured since he’d approved our corpulent cat, he’d almost certainly approve the dog, too. Especially such a little dog!
Alas, our landlord said no. No dogs allowed.
What should we do? Well, we never really had a choice. Our hearts were set on that sweet little pooch with his big brown eyes and curly tail. So we found another apartment a few doors down that allowed pets.
Our new apartment had no dishwasher. It had no closet. It was in a run-down building with a bathroom so disgusting, we wore shower shoes the whole two years we lived there. It’s no wonder it allowed dogs.
The kicker? It was smaller and $400 more expensive than the place we’d just left.
The move was depressing and long. We did a terrible job packing, because we didn’t want to leave. We walked our things box by box down the street, feeling more and more angry with every trip. But we moved. And we settled Rocky and Melvin (the fat cat) into our new place.
A few weeks later, we were at the local dog park when we met a new couple who, to our surprise, had just moved into our old place. Even more shocking? They also had a dog—a Chihuahua named Percy.
“We just didn’t tell him,” they explained after we revealed how our own Chihuahua had been the reason we’d had to move out. “And once he found out when he saw us walking the dog and met him, he just let us stay.” Wait, what?
So what did I take away from this infuriating experience? Plenty. Here are five things I learned about mixing apartments and pets.
Ask your landlord before you meet the dog
We made the mistake of falling for Rocky before we confirmed that our landlord would approve. The best path is to clear the dog question with your landlord before you lose your heart to a furry one.
‘Don’t ask, don’t tell’ is a gamble, but it can sometimes pan out
Hiding a pet from your landlord is, of course, terrible legal advice. But it’s also possible that once or if your landlord finds out, he will OK it rather than go through the annoying and expensive process of finding a new tenant. It’s a gamble, of course. You could end up on the financial hook if your puppy or dog destroys something or if your landlord considers it a breached lease. But mostly, the worst-case scenario is mutually parting ways with your landlord and then you are no worse off than if you’d asked and he’d said no.
Introduce your pet to your landlord, and maybe he’ll melt
This isn’t going to work with a landlord who hates all animals, but our landlord was already OK with cats. The only difference between us and the tenants who followed us is that he’d met their Chihuahua. Had he met ours, he might have had a different reaction.
Offer to sign additional paperwork
If we had offered to sign liability clauses in the lease indicating that we would pay for any damage incurred by Rocky, our landlord might have been more amenable to his presence. We asked without that offer and, in retrospect, we could have made our request more appealing, and harder to turn down.
Propose paying more rent
If all else fails and you really want to keep the apartment, put more money on the table. For the dishwasher, the nice bathroom, the walk-in closet, and the feeling of home, we would have upped our rent considerably. We simply didn’t argue enough. We gave up too soon.
If all of these tactics fail and your landlord says it’s a no-go, the good news is this: We left that apartment in 2003. In the 14 years since, we have had three children and five houses. We moved out of the bad apartment and bought a condo—and never rented again. Rocky has been with us through it all. Today, he is gray around his temples and has lumps and bumps too numerous to count. He limps a bit and sometimes pees on the carpet, but he’s been in our lives for almost as long as my husband and I have been together—and we almost couldn’t imagine life without him.
https://i0.wp.com/cmgtoronto.com/wp-content/uploads/2017/11/5c3239442d7f23fd76d72d8a8f96b16aw-c0xd-w685_h860_q80.jpg?fit=407%2C307&ssl=1307407Hazar Mijareshttps://cmgtoronto.com/wp-content/uploads/2023/11/Toronto-Property-Management-Company-CMG-Toronto.pngHazar Mijares2017-11-03 13:12:352024-03-15 13:19:21‘We Gave Up the Perfect Apartment for Our Pet’
Hiring a real estate agent to handle the logistics of renting out your property can be a smart move—one that many homeowners make. An agent can create a listing for you, help you check out applicants, and generally manage other aspects of renting so you don’t have to. But before you sign a contract with an agent, you’ll want to figure out how much it will cost so you still come out ahead. Do the math!
Let’s take a look at how much it costs to rent out your home through an agent.
Real estate agent fees associated with rentals
The amount your agent will charge you depends on the list of responsibilities and the rate they plan on charging you.
“There is no set commission,” says Beverley Hourlier, a Realtor® with Hilltop Chateau Realty in San Diego. But there are some common guidelines.
“I usually charge half of the monthly rent if I am just helping to lease,” Hourlier says. She adds that some agents charge a “lease up” fee, which is half the rent plus costs like running a credit report, plus a property management fee.
“If I property manage, then I charge 10% of the monthly lease,” Hourlier says. Keep in mind, property management is a little outside the wheelhouse of most real estate agents. If that’s what you’re looking for, you might want to hire a company separately. Some property management companies will find your tenant for an additional fee.
Although there isn’t a set commission for real estate agents involved in rentals, a common range is around the cost of one month’s rent.
“My charge to all of my rental clients is one month’s rent, which will be split between my broker and the renting broker,” says Juan Vazquez, a Realtor with RSVP Homes Realty in Hollywood, FL.
John Klein, a Realtor in Coral Springs, FL, also says a commission of 10% of the monthly lease or one month’s rent is standard.
With those ballpark figures in mind, make sure you and your real estate agent make a list of services they’ll provide to get your home rented out. That way you’ll know what their fees cover. If an experienced Realtor can bring you a responsible renter who can pay more, it could be well worth the fee.
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At least, that’s what I thought before I was kicked out of my own illegal rental when I was, oh, about eight months pregnant. Worst of all, I had no idea my cellar apartment was illegal. That’s a horror story for another time, but it has a universal takeaway: Knowing what’s legal in your rental market can save you a boatload of trouble in the long run.
Laws differ by location, so you can protect yourself by researching the building and its local ordinances.One starting point is simply to Google the building’s address (with quotation marks around it for best results), which might turn up reports of prior or outstanding violations. If you’re suspicious about something, it’s also worth checking your local department of buildings or building safety, which will have the certificate for your building (in my city, it’s viewable online).
So before you move into a rental, if you suspect something’s up, here are some features that are red flags.
1. You’re renting a basement, cellar, or attic
Basement apartments might seem sweet, but watch out—as I learned in my cellar fiasco, unusual often means illegal.
In New York City, in fact, basements are the most common form of an illegal apartment, and cellars and attics may not be far behind. (What’s the difference between “basement” and “cellar” for lower-level spaces? A basement rises at least 50% above street level, while a cellar has the majority of its space below street level, and different laws can apply to each.)
To be declared legal, a basement, cellar, or attic apartment has to meet criteria like having a minimum ceiling height (in New York, it’s 7 feet) and being zoned as living space. So if the space is mostly below street level, if its ceiling seems suspiciously low, or if its windows are tiny, definitely do more research on whether this space is legal to rent as a residence.
2. You’re renting a loft or converted warehouse
Love the industrial vibe of living in a loft or converted warehouse space? You’d better check local zoning ordinances and codes. Many of these former factories weren’t legally converted to residential units, or they aren’t up to snuff in terms of safety and fire codes. So, ask the landlord for a residential Certificate of Occupancy, and beware of lofts where typical residential amenities like bathrooms, plumbing, and electrical seem hacked into the layout in a way that seems less than safe. As the deadly Ghost Ship fire proved, some warehouse conversions are done without regard to fire codes. If living spaces seem crammed in a haphazard manner, if electrical wires are exposed, or if paths to exit are scarce, look elsewhere.
3. You’re renting an in-law suite
In-law suites, also called secondary units, are the common name for self-contained suites in private homes, with a separate entrance, kitchen, and bath. But if you’re considering paying rent to live in such a suite in a stranger’s home, proceed with great caution.
“What we typically find is that in-law suites were never permitted as such, making them illegal apartments,” says Robert Pellegrini, president of the PK Boston law firm. He explains that when homeowners add a new residential unit, they often don’t know they need to get permits for this second dwelling—even if a family member is moving in. So if you’re considering such a unit, make sure to ask to see permits. They may also be required to provide other features such as a separate electric meters and a parking spot.
4. Utilities are included
Great! How can you go wrong with free utilities? Here’s how: If everyone living in the building is on one gas meter, the building may not be zoned for separate dwellings. It’s a possible sign that the landlord is hoping to hide illegal rental units. Similarly, if you’re told you can’t have mail delivered to the apartment’s address, it may be an attempt to hide you, the less-than-legal renter.
But this is not always the case. “Often, it is less costly for landlords to simply include the utilities rather than remeter and/or separate the utilities,” points out Pellegrini. So go ahead and ask the landlord for documentation on the number of dwellings allowed in the building to make sure everything’s on the up and up.
5. There aren’t enough windows or exits
If you’re renting a bedroom in a larger apartment with other people, make sure that “bedroom” is legit. To officially qualify as a bedroom, in addition to a door, rooms must have a window, but there is some wiggle space here. For instance, a skylight counts as a window in some locations, and the window need not be facing the great outdoors; even a window facing another interior room with a window could pass muster. There also needs to be another exit from the dwelling other than your main entrance.
“If there are no other doors, the landlord must provide a fire escape,” says Pellegrini. “Failing this, there is no way you can rent there.”
Laws differ by location, but in New York, you might have a wrought-iron, balcony-style fire escape or emergency stairwells. Newer buildings may even have evacuation elevators.The old adage to never take an elevator in case of a fire may no longer apply across the board.
Colleen Kane has written for Fortune, Money, and other publications and websites.
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How To Rent Out Your House in Toronto, Canada
Key Takeaways
If you own a home in Toronto and are debating whether to sell or rent it out, holding onto it as a rental may be your best long-term play. The city’s housing market, while cyclical, has consistently shown resilience and growth over time. By turning your property into a rental, you can earn steady monthly income while watching your asset appreciates in value.
But becoming a landlord is more than just finding a tenant and collecting rent. Ontario’s rental laws are detailed and require diligence to stay compliant. Here’s a practical guide by CGM Toronto Property Management to help local homeowners transition smoothly from ownership to property investment.
Evaluate What Makes Your Property Appealing
Start by identifying your property’s strengths. Toronto’s neighbourhoods vary widely. A home in Leaside or The Beaches attracts those looking to live near schools and parks, while a condo near Union Station appeals to renters looking for access to downtown amenities.
Ask yourself who is most likely to rent your property? Understanding your target tenant allows you to craft listings, pricing, and terms that attract the right audience.
Understand Your Legal Responsibilities as a Landlord in Ontario
In Ontario, the Residential Tenancies Act (RTA) governs landlord-tenant relationships. Landlords must keep the rental unit safe, well-maintained, and habitable at all times. That includes:
Failing to meet these standards can lead to tenant complaints through the Landlord and Tenant Board (LTB), repair orders, or rent abatements. Staying proactive with maintenance not only avoids penalties but also builds trust with your renters.
Outline Clear Expectations for Tenants
Tenants in Ontario also have defined responsibilities, including:
Include these obligations in your lease agreement and review them before move-in. Clear expectations reduce misunderstandings and foster mutual respect, two things every successful tenancy depends on.
Know the Rules Around Rent, Deposits, and Notice Periods
Ontario’s rental laws are precise about money and notice rules.
They detail rules around:
Understanding these guidelines helps prevent disputes and ensures you stay compliant with provincial regulations.
Follow Legal Eviction Procedures Carefully
Evictions in Toronto, Ontario are tightly regulated and must go through the Landlord and Tenant Board. You cannot change locks, remove belongings, or cut utilities on your own, such actions are illegal “self-help” evictions. Common eviction grounds include non-payment of rent, persistent lateness, property damage, illegal activity, or landlord use of the unit. Always document communication and file the correct forms through the LTB.
Respect Tenant Privacy and Entry Rules
In Ontario, landlords must give at least 24 hours’ written notice before entering a unit for repairs, inspections, or showings, and entry must be within reasonable time. Emergencies, such as floods or gas leaks, are among the exceptions. Respecting privacy not only fulfills your legal duty but also builds trust, which is the foundation of long-term tenancies.
Keep Your Property Market-Ready
Toronto’s rental market is competitive. A well-maintained home attracts quality tenants and fills faster.
Before listing your property:
Professional photography and a well-written listing can make your property stand out. Highlight proximity to TTC access, local parks, or shopping districts, and other features that matter to urban renters.
Screen Tenants Thoroughly
A strong tenant screening process is your first safeguard against financial and property issues. Verify the following before signing a lease:
Taking the time to vet applicants properly reduces the risk of arrears, damages, or sudden move-outs.
Consider Hiring a Property Manager
Managing a Toronto rental seems simple until a leak, late-night emergency, or LTB hearing arises. A property manager can handle daily operations and ensure compliance. A skilled team will:
Despite a management fee, professional services can help you maximize long-term returns and prevent you from making costly mistakes.
Bottom Line
Turning your Toronto home into a rental can be a powerful and rewarding way to build long-term wealth. You’ll gain monthly income, maintain ownership in a high-demand city, and potentially enjoy property appreciation for years to come. But success requires understanding Ontario’s rental laws, staying proactive about maintenance, and managing tenants with care and professionalism.
If you prefer to keep your investment hands-free while maximizing its performance, partnering with a trusted local property management company can truly make all the difference. Our local experts handle tenant placement, compliance, maintenance, and reporting, so you can focus on growth, not day-to-day management. Contact us today to protect your investment and enjoy stress-free returns.
The Impact of Local Market Trends on Rental Pricing
Key Takeaways
Are you looking for ways to maximize your rental income? Local market trends play a significant role in determining rental pricing, directly influencing your returns. Factors such as population growth, employment rates, new housing developments, and shifts in demand all contribute to fluctuations in rental values. When an area experiences economic expansion or an influx of residents, rental prices typically rise due to increased competition for available housing.
On the other hand, an oversupply of rental units or economic slowdowns can lead to lower rental rates. Additionally, evolving neighborhood amenities, school quality, and infrastructure improvements can enhance an area’s desirability, further driving up rent. Understanding and responding to these local market trends allows you as a landlord to set competitive, profitable rental rates while maintaining high occupancy levels.
In this article, we at CMG Toronto Property Management will explore how market trends impact rent prices and why Toronto is a good location for your next real estate investment?
Market Trends and How They Impact Rent Prices
Here are some market trends residential landlords need to keep in mind before adjusting rent prices:
Population Growth
Population growth is one of the most influential factors affecting rental pricing. When more people move into an area, whether due to job opportunities, lifestyle appeal, or local amenities, the demand for housing increases. As available rental units become scarce, competition among prospective tenants drives prices upward, giving landlords an opportunity to increase cash flow.
Areas experiencing steady population growth often see long-term rent appreciation, making them attractive to real estate investors. Conversely, if population growth slows or declines, demand may weaken, leading to more stable or even reduced rental rates.
If this happens, landlords should consider methods that increase income and property value without actively touching rent pricing. Offering tenants desirable amenities and property upgrades can help keep vacancy rates low and income steady during periods of lower demand.
Employment Rates
Employment rates have a direct correlation with rental pricing, as a strong job market typically leads to greater housing demand. When employment opportunities expand in a region, more people move to the area seeking work, increasing the need for rental housing.
Higher employment also boosts renters’ financial stability, allowing landlords to justify higher rent prices.
Shifts in Demand
Shifts in tenant demand, driven by lifestyle preferences, demographic changes, or economic factors, can significantly influence rental pricing. For example, rising demand for urban living, remote-work flexibility, or access to quality schools can cause certain neighborhoods or property types to become more desirable. Understanding demand trends helps property owners adapt pricing strategies to remain competitive and attract the right tenants.
New Housing Developments
The construction of new housing developments impacts rental pricing by altering the balance between supply and demand. When new apartments or homes enter the market, the increased supply can temporarily ease housing shortages, and reducing rent prices.
However, if these new developments are luxury-oriented or concentrated in certain neighborhoods, they may raise overall market expectations and drive up prices for nearby properties. For investors, keeping an eye on future construction trends is essential to anticipate how supply changes might affect rental income potential and your management approach.
Why Investing in Toronto Property Can Still Be a Smart Move
Toronto’s rental market presents investors with opportunities to maximize rental income and returns.In fact, despite what some may think, market uncertainty can still create opportunities. With lower prices and reduced competition, buyers have stronger negotiating power. This could therefore be a time to consider expanding your investment portfolio.
During these shifts, you can also consider renovating a property and renting it to yield solidreturns before appreciation.Toronto also continues to attract strong population growth and development interest. As a result, real estate here remains a compelling option for motivated and informed investors.
Why Hiring a Property Manager Makes Sense
If you’ve invested in rental properties, hiring a property management company can reduce stress and offer solid returns. Some benefits of working with professionals include:
Bottom Line
Local market trends have a major impact on rental pricing and overall investment returns. Key factors such as population growth, employment rates, new housing developments, and shifts in tenant demand directly influence how much landlords can charge for rent. For landlords, staying informed about these trends is essential to setting competitive rates, maintaining occupancy, and protecting profitability.
Toronto remains a particularly strong market for investors. Even during market fluctuations, opportunities exist for investors to expand portfolios, renovate properties, and generate steady income. Working with an experienced property management company like CMG Toronto Property Management ensures that landlords can adapt to shifting market conditions, remain legally compliant, and maximize cash flow through expert oversight and efficient operations. If you’re looking for a reliable property management team, contact CMG Toronto today!
Property Management Fees – What to Expect
Key Takeaways
Being a residential landlord in Toronto can be a rewarding and profitable endeavour. However, it can also be quite daunting to take on so many responsibilities on your own. From tenant screening and rent collection to marketing and maintenance, you have to have the skills and times to effectively manage your investment properties and address tenant requests.
With so much to do, many owners look at hiring a property manager. But, what does it really cost? The answer depends on how companies charge, what services are included, and the type of property you own. We at CMG Toronto property management break it down so you know exactly what to expect.
Why There Is a Price Tag
Property management covers more than just collecting rent. Think about all the moving parts: marketing a vacant unit, screening applications, handling disputes, and staying on top of Ontario’s tenancy laws. That is a lot for one person.
When you hire a property manager, you are paying for three things at once:
How Companies Charge for Services
Most firms stick with one of two setups: a percentage of monthly rent or a flat fee.
Some companies also offer a mix of the two, charging a small flat fee plus a reduced percentage. The fees and percentages for either model can vary based on services rendered, property size and type, and location. As such, it is best to fully understand what’s included in your management plan.
Extra Fees You Might See
Monthly fees are only part of the picture. Many companies can offer additional fees for:
Depending on the company, these can be included in the standard management packages or be seen as add-ons. For example, CMG Toronto includes inspections within its management services at no additional cost. Knowing about what you’re paying for upfront helps you compare Toronto, Ontario companies fairly and budget accordingly.
What You Actually Get
Most full-service companies market rentals with professional listings and photos and screening tenants with background and credit checks. They also assist with rent collection, late payment follow-ups, and financial reporting. Additional services included in management plans include:
The Do-It-Yourself Option
Plenty of owners consider managing their own units. On the surface it may seem like a great way to save money. However, without the necessary time, skills and resources, renting out your home on your own can make costly mistakes.
Self-managing requires owners to take late-night maintenance calls, spend weekends showing units, and handle difficult conversations about rent or lease breaks. You also have to remain informed on changes to local and provincial legislation as well as market trends. Skipping professional management to save money can backfire. Common risks of self-management include:
If you’re a first-time landlord or looking to expand your portfolio it’s wise to work with professionals.
Comparing Companies the Smart Way
Price matters, but value matters more. When interviewing companies, ask:
Is It Worth It?
While professional property management is not free, the benefits outweigh the costs for most owners. You save time, reduce stress, and keep your real estate investment protected. To assess if it’s right for you, consider how much you could be saving long-term. If your goal is to generate passive income, property managers allow you to take a hands off approach, making their fees worth while.
Bottom Line
Property management fees can vary based on a number of factors. Ultimately, owners have to look at their short and long-term goals as well as their current strengths and weaknesses.
Hiring CMG Toronto means gaining a partner who helps you grow your investment safely. If you’d like to streamline the management of your rental properties, contact of team of professional property managers today!
Reasons to Invest in Toronto Real Estate
Key Takeaways
Toronto, the largest city in Canada and one of the most multicultural cities in the world, is often considered a top-tier destination for real estate investors. With a growing population, a strong job market, and a stable political climate, Toronto continues to attract both local and international buyers.
At CMG Toronto, we recognize the city’s unique appeal for rental property owners seeking long-term opportunity and security.
Here are the top reasons to consider investing in Toronto.
1. Strong and Stable Economy
One of the biggest draws for investors is Toronto’s resilient and diverse economy. The city is Canada’s financial and business capital, home to major banks, global tech firms, and large corporations. Key industries such as film and television production, education, health care, and real estate also contribute to its economic strength.
A strong economy leads to job creation and higher income levels. As people move to Toronto for work, demand for rental housing increases. This creates a reliable source of rental income and protects investors during economic downturns.
2. High Population Growth and Migration
Toronto’s population has seen consistent growth over the years, and that trend shows no signs of slowing down. As a top destination for immigrants, the city benefits from Canada’s welcoming immigration policies. More than half of Toronto’s residents were born outside of Canada.
Newcomers often choose to rent before buying, driving steady demand for rental units. Investors who offer well-maintained properties in accessible neighborhoods can attract families, students, and young professionals from this growing population.
3. Booming Rental Market
Toronto’s rental market remains one of the most active in the country. High home prices make renting the more practical choice for many, especially among millennials, students, and professionals who prioritize flexibility.
This creates a stable pool of renters. Well-located and well-maintained units tend to command competitive monthly rents and experience low vacancy rates. In popular neighborhoods near transit lines, business districts, and universities, listings often receive multiple applications shortly after posting.
4. World-Class Education and Healthcare
Toronto is home to top-ranked institutions such as the University of Toronto, Toronto Metropolitan University, and George Brown College. These schools draw thousands of local and international students each year, many of whom prefer off-campus housing.
The city also offers excellent healthcare, with leading hospitals and research centers. This attracts families, retirees, and skilled professionals, all of whom seek quality rental housing close to services and amenities. These factors help investors attract and retain quality tenants.
5. Excellent Public Transit and Urban Planning
Toronto’s public transit system, managed by the Toronto Transit Commission (TTC), makes commuting easy across the city. Access to reliable transportation is a major priority for renters. Properties near subway stations, streetcars, or major bus routes typically see higher rental income and longer tenant retention.
Ongoing investments in walkability, green spaces, and infrastructure upgrades continue to raise property values and improve quality of life. These urban planning efforts add long-term value to rental investments in the city.
6. Strong Real Estate Appreciation Over Time
Although the market experiences occasional cooling, the long-term trajectory of Toronto real estate is upward. Limited housing supply, combined with steady demand, drives property appreciation over time.
Rental property owners benefit not only from consistent rent payments but also from increased property value. Whether investing in a downtown condo or a duplex in a residential neighborhood, Toronto offers real potential for long-term capital gains which is why one of our top tips for investing in Toronto is to know which type of property works best for you.
7. Multicultural and Livable City
Toronto consistently ranks among the world’s most livable cities. Clean streets, low crime, abundant green space, and a vibrant arts and dining scene make it a welcoming place to live.
Its multicultural population includes communities from around the globe. This diversity attracts international students, expats, and young professionals who often choose to rent. As an investor, you gain access to a broad and dependable tenant base that values safety, amenities, and inclusivity.
8. Government Support and Investor-Friendly Environment
Canada’s legal and financial systems are transparent and stable, giving investors peace of mind. In Toronto, landlord-tenant laws offer protections to both renters and property owners, helping maintain a fair and manageable rental market.
Mortgage options are available for both Canadian and foreign investors. Although regulations such as rent control and foreign buyer taxes exist, Toronto still offers a more favorable environment than many global cities of similar size. Working with knowledgeable professionals helps investors navigate these policies effectively.
Why You Should Work with a Professional Property Management Company
Managing a rental property in a market as competitive as Toronto requires time, local knowledge, and experience. From marketing and tenant screening to maintenance and legal compliance, managing day-to-day operations can quickly become overwhelming.
This is where a professional property management company like CMG Toronto becomes essential. Property managers help reduce vacancies, protect your investment, and maintain positive relationships with tenants. With their support, you can minimize risk, improve cash flow, and focus on other priorities.
Experienced property managers also understand Toronto’s rental trends, pricing, and tenant expectations. Their expertise helps ensure your property remains competitive and profitable year-round. Whether you’re a local owner or an international investor, the right property management team can make a significant difference in your returns.
Bottom Line
Toronto offers one of the most compelling real estate markets in Canada. Its economic strength, growing population, cultural vibrancy, and high demand for rental housing make it a top choice for property investors.
By working with a professional property management company, you can simplify the process and maximize your returns. To learn more or get started, contact CMG Toronto today.
Disclaimer: This article is for informational purposes only and does not constitute legal, financial, or investment advice. Please consult with qualified professionals before making any real estate decisions.
Bubble Alert! Is It Getting Too Easy To Get A Mortgage?
There is little doubt that it is easier to get a home mortgage today than it was last year. The Mortgage Credit Availability Index (MCAI), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years. In fact, in just the last year:
This has some people worrying that we are returning to the lax lending standards which led to the boom and bust that real estate experienced ten years ago. Let’s alleviate some of that concern.
The graph below shows the MCAI going back to the boom years of 2004-2005. The higher the graph line, the easier it was to get a mortgage.
As you can see, lending standards were much more lenient from 2004 to 2007. Though it has gradually become easier to get a mortgage since 2011, we are nowhere near the lenient standards during the boom.
The Urban Institute also publishes a Home Credit Availability Index (HCAI). According to the Institute, the HCAI:
Here is a graph showing their findings:
Again, today’s lending standards are nowhere near the levels of the boom years. As a matter of fact, they are more stringent than they were even before the boom.
Bottom Line
It is getting easier to gain financing for a home purchase. However, we are not seeing the irresponsible lending that caused the housing crisis.
Source: The KCM Team | https://www.keepingcurrentmatters.com/2017/11/22/bubble-alert-is-it-getting-too-easy-to-get-a-mortgage/ | 11.24.2017
Notice of Entry, and Other Rules Your Landlord Needs to Follow
By Jeanne Sager | Oct 2, 2017
With a rental lease set to expire, most landlords want to show the apartment as often as possible, which means they’ll need a notice of entry to get into your place. They’ll be eager to find new renters, but the law states they can’t just unlock your door at any time and pop in for a visit. They also aren’t allowed to show the apartment so many times that it creates a nuisance for you and disrupts your life.
If you’re a renter, read on for the rules of landlord entry, so you know what to expect.
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Landlord notice of entry
Landlords are legally obligated to provide a renter with notice that they’ll be entering the premises—for any reason. Whether that’s to show the property to a potential renter or to fix a leaky faucet, the law is clear: Legal tenants have the right to quiet enjoyment of their home.
“The landlord must provide reasonable notice in writing (generally, 24 hours) of his intent to enter—and to do it only during normal business hours,” explains Bryan Zuetel, a Realtor® and real estate attorney from Irvine, CA. If a tenant is home and consents to entry, the 24-hour notice can be waived. Then again, it is OK for a tenant to deny entry to their landlord if they show up unannounced.
If the landlord intends to rent or sell the property to someone new, they may ask you to allow additional showings, Zuetel says. And depending on what’s spelled out in your lease agreement, you may have to comply. “For example, under certain conditions, a landlord may require that the tenant permit a weekend open house during regular business hours, and the landlord may provide oral notice of entry to the tenant,” he says.
So pull out the paperwork you signed if you’re worried that your landlord is crossing the line. Landlords who are following those guidelines are probably in the clear.
How often can a landlord show an apartment?
Rental law does not specifically stipulate a maximum number of times a landlord is allowed to show an apartment to prospective tenants. It does, however, provide some cover for tenants. “The landlord may not abuse the right of access, or use it to harass the tenant,” Zuetel explains.
That might sound vague, but if you do feel like your landlord is abusing the right of access and bothering you too often, you should try talking to them first, before calling an attorney. “Let them know that you are feeling stressed from all the showings and ask for a break for a few days—that seems more than reasonable,” says Holly Pasut, a Realtor with Hines and Associates Realty in Cornelius, NC. If that doesn’t help, you can then seek legal action.
11 Questions to Ask a Potential Roommate to Weed Out the Weirdos Fast
By Daniel Bortz | Nov 6, 2017
Picking a roommate is a bit different from picking a spouse, a pet, or a nice couch—it’s a giant leap into the great unknown. What are some questions to ask a potential roomie to help you separate the special someone you can happily live with from all the freaks and weirdos who will drive you nuts? After all, even if everything seems fine at first blush, once a person moves in, all kinds of unsavory habits might suddenly rear their head—and by then, you’re kind of stuck. So, before signing on the dotted line with a stranger, be sure to review this list of questions for screening purposes. Trust us, you’ll be so glad you did!
If you need help with property management, tenant management services, or looking into a property investment – contact CMG Toronto today. The best property management company in Toronto.
1. Do you smoke?
Living with a smoker is a deal breaker for many people; hence, this question is a staple on roommate matching websites.
Marin King, a real estate agent at Keller Williams NYC who specializes in rental properties, says potential roommates should absolutely clear the air not only on whether they smoke, but also on where it’s allowed if it’s allowed. For instance, some might not take kindly to seeing ashtrays on the back porch, even if it’s outdoors.
2. Are you a morning person or a night person?
Night owls and early birds don’t tend to mix well as roommates. Because you’re on opposite sleep schedules, you might feel you always have to tiptoe around. Research shows early risers and night people have different personality traits and behaviors that can make them clash worse than polka dots and plaid. (Fun, and not entirely surprising, fact: One study found that night owls, on average, consume more alcohol than morning people.)
3. What’s your work schedule?
Ideally your work schedules will be compatible, says Joe DeFilippo, a real estate agent and rental specialist with City Chic Real Estate in Washington, DC. This is especially important if you’re going to be sharing a bathroom, because you want to have ample time to get ready in the morning. (Having a roommate who’s impatiently waiting for you to get out already isn’t a great setup.)
4. Do you have pets?
Hate cats? Allergic to dogs? Well, don’t live with a roommate who has one! If you don’t mind having a four-legged friend around, though, you should still make sure your landlord allows pets, because many don’t.
5. Do you work from home?
Office dwellers might skip this question, but if you’ll be working from home, you should check to see whether you’d have the place to yourself. After all, one of the best things about working from home is that you have fewer distractions from co-workers, but your roommate could prove equally distracting, or even more so if he’s a chatterbox!
6. What do you like to do on nights and weekends?
If you enjoy hosting game night and dinner parties, rooming with a homebody can cause problems. After all, you should be able to entertain at home without feeling like you’re invading your roommate’s privacy.
Asking this question can also help you gauge if your prospective roommate is a party animal who’s going to treat your apartment like a frat house.
7. Have you ever had any issues with rent payments?
A landlord or property management company will usually look into each person’s rental history before approving a roommate, but you should still vet your roommate yourself. Why? Because if your roommate can’t pay his portion of the rent, you’re typically on the hook for paying his share. So, if someone says she’s had trouble paying rent on time in the past—or has had other issues with a previous landlord (e.g., arguments, fines, eviction)—look for a roomie who is more drama-free.
8. Are you in a relationship?
If you don’t want an unofficial third roommate, you need to set clear expectations about how often romantic partners can sleep over. This can become a big issue if your roommate’s significant other is a constant presence in your apartment; at that point, the person should be paying rent!
9. What indoor temperature do you prefer?
This might seem minor, but plenty of folks living in close proximity have strong disagreements over who controls the thermostat. This issue can also present financial concerns—if the person in the next room likes to constantly blast the air conditioning during the summer, for example, you could be looking at a fatter utility bill.
10. How often do you clean?
This is a better approach than asking someone straight up, “Are you a clean person?”—because few people will admit to being a slob. If you’re someone who can’t fall asleep if there are dishes in the sink, make sure you find someone who’s the same way. If you’re both lazy cleaners, you could agree to split the cost of a professional cleaning service once a month.
11. Are you still friends with your old roommates?
You certainly don’t have to become besties to be good roommates, but you do want someone who is pleasant and easy to spend time with. If your prospective co-tenant has had a long string of “bad roommates,” this could be a case of the pot calling the kettle black.
‘We Gave Up the Perfect Apartment for Our Pet’
By Sasha Brown-Worsham | Nov 2, 2017
If you had to choose between having the perfect apartment or a sweet, sloppy, loving pet, which would you pick?
Fifteen years ago, my husband and I found ourselves in this situation when we adopted a stray dog named Rocky—all high-strung energy and cuddles concentrated in a tiny Chihuahua body. He suited us perfectly.
The only problem? We didn’t check with our landlord first.
Worse yet, we loved our apartment: The kitchen was painted a burnt Tuscan orange, the bedroom was expansive with a walk-in closet and a brilliant blue color that made us feel relaxed and right at home. The location was perfect, a quarter-mile from my favorite yoga studio and a stone’s throw from the subway. Best of all? The rent was an affordable $900.
But that dog.
After we brought Rocky home, we did the right thing. We called our landlord. We figured since he’d approved our corpulent cat, he’d almost certainly approve the dog, too. Especially such a little dog!
Alas, our landlord said no. No dogs allowed.
What should we do? Well, we never really had a choice. Our hearts were set on that sweet little pooch with his big brown eyes and curly tail. So we found another apartment a few doors down that allowed pets.
Our new apartment had no dishwasher. It had no closet. It was in a run-down building with a bathroom so disgusting, we wore shower shoes the whole two years we lived there. It’s no wonder it allowed dogs.
The kicker? It was smaller and $400 more expensive than the place we’d just left.
The move was depressing and long. We did a terrible job packing, because we didn’t want to leave. We walked our things box by box down the street, feeling more and more angry with every trip. But we moved. And we settled Rocky and Melvin (the fat cat) into our new place.
A few weeks later, we were at the local dog park when we met a new couple who, to our surprise, had just moved into our old place. Even more shocking? They also had a dog—a Chihuahua named Percy.
“We just didn’t tell him,” they explained after we revealed how our own Chihuahua had been the reason we’d had to move out. “And once he found out when he saw us walking the dog and met him, he just let us stay.” Wait, what?
So what did I take away from this infuriating experience? Plenty. Here are five things I learned about mixing apartments and pets.
Ask your landlord before you meet the dog
We made the mistake of falling for Rocky before we confirmed that our landlord would approve. The best path is to clear the dog question with your landlord before you lose your heart to a furry one.
‘Don’t ask, don’t tell’ is a gamble, but it can sometimes pan out
Hiding a pet from your landlord is, of course, terrible legal advice. But it’s also possible that once or if your landlord finds out, he will OK it rather than go through the annoying and expensive process of finding a new tenant. It’s a gamble, of course. You could end up on the financial hook if your puppy or dog destroys something or if your landlord considers it a breached lease. But mostly, the worst-case scenario is mutually parting ways with your landlord and then you are no worse off than if you’d asked and he’d said no.
Introduce your pet to your landlord, and maybe he’ll melt
This isn’t going to work with a landlord who hates all animals, but our landlord was already OK with cats. The only difference between us and the tenants who followed us is that he’d met their Chihuahua. Had he met ours, he might have had a different reaction.
Offer to sign additional paperwork
If we had offered to sign liability clauses in the lease indicating that we would pay for any damage incurred by Rocky, our landlord might have been more amenable to his presence. We asked without that offer and, in retrospect, we could have made our request more appealing, and harder to turn down.
Propose paying more rent
If all else fails and you really want to keep the apartment, put more money on the table. For the dishwasher, the nice bathroom, the walk-in closet, and the feeling of home, we would have upped our rent considerably. We simply didn’t argue enough. We gave up too soon.
If all of these tactics fail and your landlord says it’s a no-go, the good news is this: We left that apartment in 2003. In the 14 years since, we have had three children and five houses. We moved out of the bad apartment and bought a condo—and never rented again. Rocky has been with us through it all. Today, he is gray around his temples and has lumps and bumps too numerous to count. He limps a bit and sometimes pees on the carpet, but he’s been in our lives for almost as long as my husband and I have been together—and we almost couldn’t imagine life without him.
In other words: It was worth it.
Source: https://www.realtor.com/advice/rent/we-gave-up-our-apartment-for-our-pet/ | 11.03.2017 |
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The Cost of Hiring a Real Estate Agent to Rent Out Your Home
By Adriana Velez | Oct 13, 2017
Hiring a real estate agent to handle the logistics of renting out your property can be a smart move—one that many homeowners make. An agent can create a listing for you, help you check out applicants, and generally manage other aspects of renting so you don’t have to. But before you sign a contract with an agent, you’ll want to figure out how much it will cost so you still come out ahead. Do the math!
Let’s take a look at how much it costs to rent out your home through an agent.
Real estate agent fees associated with rentals
The amount your agent will charge you depends on the list of responsibilities and the rate they plan on charging you.
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“There is no set commission,” says Beverley Hourlier, a Realtor® with Hilltop Chateau Realty in San Diego. But there are some common guidelines.
“I usually charge half of the monthly rent if I am just helping to lease,” Hourlier says. She adds that some agents charge a “lease up” fee, which is half the rent plus costs like running a credit report, plus a property management fee.
“If I property manage, then I charge 10% of the monthly lease,” Hourlier says. Keep in mind, property management is a little outside the wheelhouse of most real estate agents. If that’s what you’re looking for, you might want to hire a company separately. Some property management companies will find your tenant for an additional fee.
Although there isn’t a set commission for real estate agents involved in rentals, a common range is around the cost of one month’s rent.
“My charge to all of my rental clients is one month’s rent, which will be split between my broker and the renting broker,” says Juan Vazquez, a Realtor with RSVP Homes Realty in Hollywood, FL.
John Klein, a Realtor in Coral Springs, FL, also says a commission of 10% of the monthly lease or one month’s rent is standard.
With those ballpark figures in mind, make sure you and your real estate agent make a list of services they’ll provide to get your home rented out. That way you’ll know what their fees cover. If an experienced Realtor can bring you a responsible renter who can pay more, it could be well worth the fee.
If you need help with property management, tenant management services, or looking into a property investment – contact CMG Toronto today. The best property management company in Toronto.
Need help? Contact the best property management company in Toronto.
Adriana Velez is a food, wellness, and home writer . Her work has been featured in Healthyish, Prevention.com, Lifehacker, She Knows, and CafeMom.
Source: https://www.realtor.com/advice/rent/how-much-will-it-cost-me-to-rent-my-house-through-a-realtor/ | 10.26.2017
5 Illegal Rentals You Might Be Living in Right Now
By Colleen Kane | Oct 12, 2017
You, holing up in an illegal rental? Never!
At least, that’s what I thought before I was kicked out of my own illegal rental when I was, oh, about eight months pregnant. Worst of all, I had no idea my cellar apartment was illegal. That’s a horror story for another time, but it has a universal takeaway: Knowing what’s legal in your rental market can save you a boatload of trouble in the long run.
Laws differ by location, so you can protect yourself by researching the building and its local ordinances. One starting point is simply to Google the building’s address (with quotation marks around it for best results), which might turn up reports of prior or outstanding violations. If you’re suspicious about something, it’s also worth checking your local department of buildings or building safety, which will have the certificate for your building (in my city, it’s viewable online).
If you need help with property management, tenant management services, or looking into a property investment – contact CMG Toronto today. The best property management company in Toronto.
So before you move into a rental, if you suspect something’s up, here are some features that are red flags.
1. You’re renting a basement, cellar, or attic
Basement apartments might seem sweet, but watch out—as I learned in my cellar fiasco, unusual often means illegal.
In New York City, in fact, basements are the most common form of an illegal apartment, and cellars and attics may not be far behind. (What’s the difference between “basement” and “cellar” for lower-level spaces? A basement rises at least 50% above street level, while a cellar has the majority of its space below street level, and different laws can apply to each.)
To be declared legal, a basement, cellar, or attic apartment has to meet criteria like having a minimum ceiling height (in New York, it’s 7 feet) and being zoned as living space. So if the space is mostly below street level, if its ceiling seems suspiciously low, or if its windows are tiny, definitely do more research on whether this space is legal to rent as a residence.
2. You’re renting a loft or converted warehouse
Love the industrial vibe of living in a loft or converted warehouse space? You’d better check local zoning ordinances and codes. Many of these former factories weren’t legally converted to residential units, or they aren’t up to snuff in terms of safety and fire codes. So, ask the landlord for a residential Certificate of Occupancy, and beware of lofts where typical residential amenities like bathrooms, plumbing, and electrical seem hacked into the layout in a way that seems less than safe. As the deadly Ghost Ship fire proved, some warehouse conversions are done without regard to fire codes. If living spaces seem crammed in a haphazard manner, if electrical wires are exposed, or if paths to exit are scarce, look elsewhere.
3. You’re renting an in-law suite
In-law suites, also called secondary units, are the common name for self-contained suites in private homes, with a separate entrance, kitchen, and bath. But if you’re considering paying rent to live in such a suite in a stranger’s home, proceed with great caution.
“What we typically find is that in-law suites were never permitted as such, making them illegal apartments,” says Robert Pellegrini, president of the PK Boston law firm. He explains that when homeowners add a new residential unit, they often don’t know they need to get permits for this second dwelling—even if a family member is moving in. So if you’re considering such a unit, make sure to ask to see permits. They may also be required to provide other features such as a separate electric meters and a parking spot.
4. Utilities are included
Great! How can you go wrong with free utilities? Here’s how: If everyone living in the building is on one gas meter, the building may not be zoned for separate dwellings. It’s a possible sign that the landlord is hoping to hide illegal rental units. Similarly, if you’re told you can’t have mail delivered to the apartment’s address, it may be an attempt to hide you, the less-than-legal renter.
But this is not always the case. “Often, it is less costly for landlords to simply include the utilities rather than remeter and/or separate the utilities,” points out Pellegrini. So go ahead and ask the landlord for documentation on the number of dwellings allowed in the building to make sure everything’s on the up and up.
5. There aren’t enough windows or exits
If you’re renting a bedroom in a larger apartment with other people, make sure that “bedroom” is legit. To officially qualify as a bedroom, in addition to a door, rooms must have a window, but there is some wiggle space here. For instance, a skylight counts as a window in some locations, and the window need not be facing the great outdoors; even a window facing another interior room with a window could pass muster. There also needs to be another exit from the dwelling other than your main entrance.
“If there are no other doors, the landlord must provide a fire escape,” says Pellegrini. “Failing this, there is no way you can rent there.”
Laws differ by location, but in New York, you might have a wrought-iron, balcony-style fire escape or emergency stairwells. Newer buildings may even have evacuation elevators.The old adage to never take an elevator in case of a fire may no longer apply across the board.
Colleen Kane has written for Fortune, Money, and other publications and websites.
Need help? Contact the best property management company in Toronto.
Source: https://www.realtor.com/advice/rent/illegal-rentals/ | 10.12.2017