What Every Landlord Should Know Before Renting Out a Condo in Toronto

Remax - Marketing
Apr 10
2 min read

Renting out a condo in Toronto might sound simple—clean it up, find a tenant, sign a lease, done. Right? Not so fast. Condo rentals come with unique rules, responsibilities, and red tape that every landlord should know about before listing that sleek downtown suite.

Here’s what you really need to know before you hand over the keys.

1. Know the Condo Corporation Rules

When you buy a condo, you're not just buying a unit—you’re buying into a community. That community comes with its own bylaws and regulations, often enforced by a condo board.

🔹 Some key rules to watch out for:

Minimum or maximum lease durations
Restrictions on short-term rentals (most ban Airbnb-style stays)
Move-in/move-out scheduling and elevator bookings
Pet policies, noise guidelines, and more

📌 Tip: Always review the condo’s Declaration and Rules before renting your unit. Violating these can result in fines—or worse, legal action.

2. Budget for Monthly Maintenance Fees

Unlike freehold properties, condos come with monthly maintenance fees. These can’t be passed directly to the tenant unless it’s included in the rent price.

Maintenance fees usually cover:

Building security
Cleaning & common areas
Amenities (like gyms, pools, party rooms)
Snow removal & garbage services

🔹 Pro Tip: Keep in mind that these fees can increase annually. Factor them into your long-term rental strategy.

3. Be Clear About What’s Included in Rent

In condos, utilities aren’t always straightforward. Make sure you’re transparent with tenants about what’s included:

✅ Is hydro included?

✅ Are internet or cable part of the deal?

✅ Does the unit come with a parking spot or locker?

Clarity upfront helps avoid disputes later. It also makes your listing stand out to serious tenants.

4. Get Familiar with Ontario’s Rental Laws

The Residential Tenancies Act (RTA) applies to most condo rentals in Ontario. This law covers:

Standard lease agreements
Rules around rent increases
Notice periods for ending a tenancy
Tenant rights (yes, they’re extensive)

📌 Reminder: A condo board’s rules can’t override Ontario’s rental laws. As a landlord, you’re responsible for following both.

5. Screen Tenants Carefully

Toronto’s rental market can be competitive, but don’t rush into choosing a tenant. Use a thorough screening process to avoid issues down the line:

✔ Run a credit check

✔ Verify employment & income

✔ Contact previous landlords

✔ Confirm ID and references

🔹 Pro Tip: A great tenant is more valuable than a quick lease.

Final Thoughts

Renting out your Toronto condo is a solid move—as long as you do it right. Between condo rules and Ontario laws, there’s a lot to keep track of, but a little preparation goes a long way.

Stay informed. Stay professional. And always read the fine print.