Finding your next tenant
Set an asking rent from comparable listings, property features, condition and availability, and keep asking rent and achieved rent distinct.
By the Tenant.ca teamUpdated 4 min read
A city average is not a valuation of your property. A useful asking-rent assessment considers the unit, the alternatives available to renters and the timing of the proposed tenancy. Start with accurate property details before choosing comparable listings.
For a new listing, gather the location, property type, bedrooms, bathrooms, approximate size, condition, parking, included utilities and available date. Mention renovations or limitations that a renter would notice at a showing. Clear facts are more useful than a target rent without context.
Choose current listings that a prospective tenant could realistically substitute for yours. Compare property types separately: a basement apartment, a high-rise condo and a whole house may serve different needs even within one neighbourhood.
Record each comparable's asking rent, included features, available date and meaningful differences. Exclude obviously mismatched units and investigate unusual outliers instead of letting them anchor your expectations. Recheck availability before relying on an older advertisement.
The Tenant.ca GTA rent report provides median asking rents and the middle-half range for nine markets. It describes active advertised inventory, not every completed lease in the market. A median is the middle observation in the sample; it does not tell you what every similar unit will achieve.
Use the report to orient your comparison, then review individual listings and the property's condition. Changes in the mix of advertised properties can affect a city's median even when an individual property's rental prospects have not changed by the same amount.
In the October 22, 2026 sample, the median asking rent across all sizes ran from $2,500 in Toronto, Vaughan and Scarborough to $2,795 in Markham, and the middle half of Toronto listings asked between $2,200 and $3,000. Outside the GTA, CMHC's October 2025 average rents for purpose-built apartments in 31 Ontario communities are set side by side in one table; they are rents being paid, not asking rents.
An assessment for a proposed new tenancy is a different exercise from changing rent during an existing tenancy. Do not use a market estimate as permission to change an existing tenant's rent. Under the Residential Tenancies Act, rent can rise once 12 months have passed since the tenancy began or since the last increase, with at least 90 days' written notice. For most units the increase is capped at the province's guideline, which is 1.9% for increases taking effect in 2027; units first occupied for residential purposes after November 15, 2018 are exempt from the guideline, though not from the notice and 12-month rules. Obtain appropriate advice about the property's situation before acting.
This guide is a method for preparing an assessment, not a legal determination, appraisal or guarantee of rental income. The service team needs the property's actual circumstances to discuss an appropriate next step.
Share the following information so the conversation can focus on your actual property.
An asking-rent recommendation should connect to presentation, showing access and enquiry follow-up. Agree on the initial approach and how the response will be reviewed. Tenant.ca offers placement across Ontario and ongoing management in Toronto, the GTA and thirteen more Ontario communities; coverage and scope are confirmed for the property before onboarding.
