LIFE EVENTS
QUESTIONS

Renting or Buying

Q.1. Is it better to buy or rent in Canada?
A.

The decision to buy or rent depends upon a number of factors including. This calculator will help you decide.

Q.2. What are the key elements in a rental agreement?
A.

Any lease agreement should address key issues such as: 

  • names of landlord and tenant;
  • address of property;
  • security deposits;
  • monthly rent and what it does and does not include;
  • due dates for payment;
  • who is responsible for repairs;
  • notice of termination;
  • subletting rules;
  • terms for dispute resolution,
  • requirements for tenants and liability insurance.
Q.3. How do I rent my first apartment or home in Canada?
A.

There is a fairly common process for renting a property. This usually involves credit and reference checks, a rent deposit, and a formal lease agreement. The details of these issues are important and need to be clearly defined.