The cost of living in rental properties in canada is rising due to surging interest rates, and rent prices are a major factor. In fact, many families who were once planning to buy their first homes are now considering renting instead. For newcomers, the process of finding rental properties canada can be complicated. This article provides an overview of the norms, requirements and processes involved in locating and securing a rental property.

Finding an Apartment Building for Rent in Your Area

Rent costs vary widely, especially in cities with different real estate market dynamics. For example, Vancouver has a strong luxury rental segment that pushes the overall average price higher. Meanwhile, Edmonton and Winnipeg have more affordable rental markets that pull the national average down.

Regardless of where you live, the best way to determine your family’s budget is to add up all your monthly expenses including rent, utilities and other lifestyle costs. Then, divide that number by your pre-tax income. The result is the maximum amount of money you can comfortably spend on housing.

In most cases, landlords include a number of standard household amenities in the monthly rent. This may include heat, air conditioning and water. However, additional fees may be required for electricity (hydro), cable or internet service. Ask your landlord what these extra costs are before signing a lease. Also, inquire whether pets are allowed and whether you can make any permanent changes to the interior of the property. You should be aware that these fees are taxable in some cases.