Renting Your First Apartment

A common affordability guideline is to keep housing costs near or below 30% of gross income. It is only a starting point: include utilities and other required housing costs, and check your take-home pay, debt payments, transportation, food, and savings before choosing a rent amount.

The same rent can be manageable for one household and unaffordable for another. Use the calculator as an estimate, then test your actual monthly budget with the rent and bills for the unit you are considering.

Beyond rent, budget separately for utilities, internet, tenant insurance, and parking if they are not included. These costs depend on the unit, location, household usage, and provider, so use recent bills or local quotes rather than a national estimate. Add them to rent before deciding what you can afford.

Landlords screen applicants to reduce their risk. Getting your documents together before you start looking makes the process much faster — popular apartments rent within days in competitive markets like Toronto, Vancouver, and Montreal.

1. 1Government-issued photo ID (driver's licence or passport)
2. 2Proof of income: recent pay stubs, offer letter, or Notice of Assessment if self-employed
3. 3Bank statements (last 2–3 months)
4. 4References: previous landlord contact + one personal reference
5. 5Consent for a credit check (landlords cannot ask for your SIN — your name, date of birth, and address are sufficient)
6. 6Before paying an application, holding, or key fee, check whether it is permitted and refundable under your local rules

Your lease is a legal contract. Read every word before signing — never assume anything is "standard." In most provinces, residential tenancies are governed by specific legislation (e.g., Ontario's Residential Tenancies Act, BC's Residential Tenancy Act, Quebec's Civil Code provisions on lease of dwellings, and Alberta's Residential Tenancies Act). These laws set minimum rights that your lease cannot override.

• Lease length and end date — check what happens when a fixed term ends under your provincial or territorial rules.
• Rent amount and when it's due — is there a grace period for late payments?
• Late fees — note that some provinces (e.g., Ontario) prohibit charging late fees on rent.
• Security or damage deposit amount — check your province's rules on maximum deposit amounts.
• Guest policy — how long can someone stay before they're considered a tenant?
• Pet policy — check current local rules on restrictions, fees, and deposits. For covered Ontario tenancies, no-pet clauses are generally unenforceable, but condominium rules and other exceptions may matter.
• Subletting and assignment rules — most provinces require the landlord not to unreasonably refuse a sublet or assignment.
• Maintenance responsibilities — what do you fix vs. the landlord?
• Early termination clause — what does it cost to break the lease? Provincial rules may apply.
• Renewal terms — rent-increase timing, notice, limits, and exemptions depend on your province or territory and type of unit.

Deposit rules vary by province and territory, including limits, pet deposits, permitted fees, and how money must be held. For example, Ontario generally permits a rent deposit for the last rental period but not a damage deposit; British Columbia limits security and pet deposits separately; Alberta caps refundable deposits at one month’s rent; and Quebec prohibits security deposits. Check the current local rules before paying.

The deadline and process for returning a deposit depend on local law and may require you to provide a forwarding address or respond to a claim. Check the tenancy authority for your province or territory before and after moving out.

Tenant insurance (often called renters insurance) can cover your personal belongings against specified losses, personal liability, and additional living expenses, subject to the policy. Premiums depend on your address, coverage, deductible, and claims history; compare current quotes and read exclusions before buying.

Your landlord's insurance generally covers the building, not your belongings or personal liability. Check your lease for insurance requirements, then compare quotes and confirm the policy covers the risks and belongings that matter to you.

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