Finding your next tenant
Prepare your Toronto condo for a tenant: building documents, asking rent, listing details, showings, screening, lease preparation and move-in coordination.
By the Tenant.ca teamUpdated 5 min read
Renting out an individually owned Toronto condo involves two sets of practical arrangements: preparing the unit for a tenancy and coordinating with the condominium corporation. Start by confirming the intended use and rental timing, gathering the building's current documents and identifying its management contact. This guide concerns residential leasing of an individual condo, not management of the condominium corporation.
The Condominium Authority of Ontario explains that landlords must notify their condo corporation about leasing and provide the required tenancy information. The declaration, by-laws and rules can affect the rental and use of the building. Review the official leasing guidance and your actual documents before promising terms in an advertisement.
Gather the information once so the advertisement, showing conversation and lease can agree. Confirm what belongs to the unit, what is shared, what is included in the rent and what depends on the building's procedures. Before renting your own home, also discuss the change in use with your insurer and any other relevant professional.
Begin with current alternatives in the same building or nearby buildings serving a similar market. Then compare size, actual bedroom configuration, parking, outdoor space, condition and included utilities. A unit with a den and no parking may compete differently from a true two-bedroom unit with a parking space.
Use advertised rents as a starting point, not as evidence of what a completed lease achieved. Record your comparison date and recheck listings that have been advertised for some time. The GTA rent report provides broader asking-rent context, while a property assessment can focus on the actual unit.
For the wider market, CMHC's October 2025 survey counted 162,819 of the City of Toronto's 384,989 condo apartments rented out (42.3%). Only 0.9% of those were vacant, and a rented two-bedroom condo averaged $2,942 a month, against $2,055 for a two-bedroom in a purpose-built rental building. CMHC's figures are rents being paid, in occupied and vacant units alike, not asking rents. Tenant.ca's sample of the 200 newest Toronto listings on October 22, 2026, which mixes condos with houses and apartments, had a median two-bedroom asking rent of $2,800.
Show the actual living areas, kitchen, bedrooms, bathrooms and outdoor space. Explain the layout clearly, especially where a room's use may not be obvious from photographs. Verify any building amenity you mention and whether it is available to the tenant under the relevant arrangements.
Make parking, storage, laundry, utilities and the available date easy to find. Coordinate showing access with the building and any current occupant. Keep viewing instructions private where they contain access information, and avoid publishing keysafe codes or resident contact details in a public listing.
Use a consistent application process and verify relevant information with appropriate consent. Review permitted screening criteria and handle personal documents securely. A high asking rent or a valuable unit does not replace the need for fair, consistent treatment of applicants.
Confirm the lease details, inclusions and building documents before signing. Use Ontario's standard lease where required, and check any proposed additional terms against the applicable rules. A condo's building requirements should be reviewed using its actual governing documents rather than copied from another building.
Whether the guideline limits future increases depends on when the condo was first lived in, not when you bought it. 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. Confirm when the unit was first occupied before you plan on future increases, and keep that record with the lease.
Confirm the elevator or loading arrangements, the building's paperwork and the person responsible for each step. Agree on a key and fob handover, record the unit's condition and give the tenant clear instructions for contacting you or the agreed rental manager about maintenance.
Check that the tenancy records and required notifications reach the correct building contact. Keep a copy of the handover information and record any unfinished repair with an owner and next action. Clear move-in arrangements help prevent a signed lease from becoming a last-minute access problem.
If your main need is finding a tenant for the condo, standalone placement covers the leasing stage. If you also want help during the tenancy, compare a rental manager's responsibilities with the tasks you will keep. The condo corporation's manager and an individual unit's rental manager have different roles.
Tenant.ca's tenant placement fee is one month's rent plus HST. Ongoing condo and apartment management in Toronto, the GTA and thirteen more Ontario communities starts at $98 a month plus HST. Placement, ongoing management and property operating costs should be separated in the quote. Share the unit's location, occupancy, building requirements and timing so the team can confirm the service scope.
