Two Cities — Renting in Vancouver and Toronto
By: Zohaib Shahab| Tolobi
These days, it seems like there are many Vancouverites moving to Toronto and many Torontonian transplants on the West Coast. The comparisons people often talk about are the weather and attitudes of locals, but sometimes it’s the basic things like renting a place to live that can either throw newcomers off kilter or be a refreshing change. How do the two cities compare in terms of the rental process?
The Major Differences
It may seem trivial, but one of the distinguishing aspects for house hunting between Vancouver and Toronto is which websites people turn to when entering their searches. In Toronto, Kijiji is the norm, but in Vancouver, Craigslist listings are often trusted.
In Toronto, realtor services are often used by prospective tenants. Landlords typically pay 1 months’ rent in tenant placement fees to their agents, who then share half of that with the agents used by the prospective tenants. This sometimes catches newcomers from out west unawares. Vancouverites are used to going through the whole rental process on their own — prospective tenants search for homes, contact landlords, show up to showings, and make offers on their own.
The issue of pets may not pertain to everyone, but it’s becoming a common detail more and more prospective tenants look out for in listings. In Toronto, some apartment buildings have even tailored some amenities especially for pets. Interestingly, despite Vancouver being known for its high amount of dog ownership, landlords are allowed to require a pet deposit and include a no-pets clause in the lease. In Ontario, the opposite is true. Anyone looking for a new home in Toronto should be aloof if they are asked to provide a pet deposit or sign a no-pet clause in the lease.
The Similarities
Though there may seem to be a vaster housing market in Toronto, it’s obvious that both Toronto and Vancouver are suffering from a shortage in rental options and that renters are faced with high prices. The rental markets move fast, so showing up to viewings with the right expectations and proper paperwork for submitting an application is the norm in both locales.
In both cities, commuters are more likely to take transit to get between home and work. The living situation may be more expensive when compared to car-oriented cities like Calgary, but the urban conveniences from more density is the perk in return. Vancouver’s proximity to mountains and the sea may give it a slight edge, but in terms of walkable neighbourhoods, community spaces, urban greenery, and access to major urban attractions and amenities, the two cities are pretty much on par.
One interesting thing to note is that in both cities, provincial regulations control the amount of increases landlords can hike up on rent each year. In Ontario, the percentage of increase on current rent is 2.2% for 2020 while in British Columbia it is 2.6%. Renters in both cities should also be aware of the provincial residential tenancy acts that guarantee certain rights and set guidelines for renting in Vancouver and Toronto.
And finally, as in all major cities in the world, scams seem to be always a possibility, so renters should do ample research before signing anything or making their wallets available for deposits.
The Fine Print
When it comes to signing documents, there are a couple of small points of differences between renting in Vancouver and Toronto.
In Ontario, the Standard Form of Lease is mandated by the provincial government for most private market rental units. In British Columbia, tenants are recommended to use the Residential Tenancy Agreement. If you come across landlords that insist you use their own unique leases, raise concerns and read over the terms carefully! Luckily for tenants, however, all residential tenancies are subject to each province’s respective Residential Tenancies Act and a conflict between the signed lease and the act is decided in favour of the Act. More importantly however, if anything is unclear, seek legal advice before signing that lease, which may lock you in for at least one-year!
Interestingly, in British Columbia, landlords can ask from prospective tenants no more than half of a month’s rent for the rental deposit. In Ontario, the standard rental deposit is a month’s rent.
Looking across the country, it may seem like the grass is greener on the other side. Yet, it can sometimes be refreshing to compare what the situation is like over there just to get some perspective on the rental process for where you are.
