4 Things Renters Need to Know

Welcome to inside the real estate market. Hi there, I’m Jamie Johnston, Broker Owner of RE/MAX Condos Plus. Today I’d like to talk about 4 things renters need to know.

1. Act Quickly

The market for condo rentals is tighter than for condo sales. So what does that mean? It means that the best units are only on the market for a few days, so you have to act quickly.

2. Be Prepared

Get all your stuff together first before you go out. What does that mean? Fill out a rental application, get your credit bureau done, and get your letter of employment ready to go. And oh yes, don't forget your checkbook. The best properties are gone the day that you see them.

3. Connect with your REALTOR®

The third point I’d like to say is, agents don’t make much money from rentals. So what does that mean? They’re only going to show you a few properties, just remember, you’re renting not buying so this is no time to be picky. Agents are also looking at renters as potential buyers and referral sources. If you don’t connect with your agent. They won’t connect with you, so if there is no connection, cut the cord and move on.

4. Be Careful when Using Kijiji or Craigslist

Fourth and finally, Kijiji and Craigslist can be a scam. One, how do you know the person offering the property for rent even owns it. I’ve seen people get the keys of a vacant property and mascarade as the owners. Secondly, with a Realtor you know that your deposit cheque is placed within an insured trust account. Do you want to make a check out to a person, for several thousand dollars, that you just met in the last 24 hours? Well that’s my tips, talk to you soon, I’m Jamie Johnston.

Subscribe to our Monthly Market Reports