Renting in today’s market has become a bit of an artform. Sure, you could just go out and haphazardly try and get a condo to rent. However, in the rental world today, to get a place you actually love, and one that ticks all the boxes, you’re going to need a bit of a game plan.  

We know it can get a little overwhelming. That’s why we have a three-step formula to crack the code of renting a condo, and how you can use Condo Dork to help seal the deal! 

Renting a condo consists of 3 essential components:

• Affordability & preparation 
• Key considerations 
• Having an agent 

Number 1: Affordability & preparation

The two big things here are knowing your budget and having your documents ready! These two steps are the starting point in your condo hunt process and should be completed before even viewing rental properties.

First, get clear on your current financial situation and what you are comfortable paying for monthly rent. A budget is imperative in the rental hunt process and will help narrow down the options. 

Renting today has become a hot and competitive market. Be proactive by getting your ducks in a row…aka your required documents in a row. Most places will require:

• Credit report/score
• Last two pay stubs and letter/proof of employment
• Copy of ID 
• Completed and filled out rental application

Having this information from the get-go is going to expedite the offer process. The offer process can be dependent on the place. However, typically it will involve a completed application form accompanied by the above-mentioned documents. Having an agent is going to come in handy during the offer process…but we’ll get to that later!  

Just remember, having these documents prepared and your budget in mind at the start will put you at a greater advantage and allow you to move quickly and confidently to the next step in the rental process. 

Let Condo Dork help: once you have your budget, you can utilize the price filter on the top left-hand corner and put in your desired price range to see what condos are available to rent in that price point (Be sure you’ve selected ‘For Rent’ in the top right-hand corner).

Number 2: Key Considerations 

Now that the budget and paperwork are out of the way (phew!) the next component in the rental process framework is looking at what to consider when finding a place. This is where you get clear on what you’re looking for and narrow down your options even more. 

First, consider what exactly you want to get out of your condo lifestyle. The amazing thing about condos is that they can offer so much more then just four walls and a place to sleep. 

Questions to ask yourself:

• How many bedrooms?
• What kind of square footage?
• What neighbourhood do you want to live in?
• What kind of amenities are you looking for?

Condo living can cater to whatever lifestyle you’re looking for. Figure out how much space you’re hoping for and what area of town you want to be in. Get clear on what kind of amenities you want to be included in the rental experience. 

What are the non-negotiables and what are you flexible on? Typically, the more amenities a place offers, the higher the rent (just something to keep in mind when making the non-negotiables list). It’s important to know going in where you’re willing to bend and where you draw the line.  Take some time to think these things through to make sure you’re getting a place that you love and will best suit your needs.  

Let Condo Dork help: Once you have a budget in mind and your key considerations, you can play around with the filters to help narrow down your search and find a rental best suited for you. You can search by price, building style, size, beds, baths, amenities, and proprietary building ranking (a curated ranking list by Condo Dork). 

Number 3: Have an agent

The last piece to the puzzle when it comes mastering the art of renting is having the help of an agent. Agents are typically thought of when buying a place, not necessarily renting one. But having the help of a trusted agent during the rental process is one of the smartest things you could do to help create a hassle free and smooth rental experience. 

Some of the main advantages to utilizing an agent in the rental process include:

1. They know what’s out there and available. It is literally their job to know what is out on the market. They also typically get early access to listings before the public. 

2.  Why wouldn’t you want to utilize someone who can help you do all the nitty gritty stuff? Don’t have the time to comb through all the listings? Not a problem, an agent can help with that. 

3. Act as advisor. Agents are a great non-bias third party who can act as a voice of reason and help you objectively look at a place. 

Agents are also going to be an immense amount of help during the offer process. They will be able to help you create a negotiation strategy that feels good for you. They can help finalize details on any conditions/lease agreements. And lastly, they are there to make sure all your i’s are dotted, and t’s are crossed. 

Let Condo Dork help: If you’re looking to find an agent in your city we can help! Head back over to the home page. On the top right-hand corner, you’ll see a ‘More’ tab. Once selected, click on ‘Condo Pros’. There you’ll be able to start your agent search by selecting a city.   

Oh, and last, but certainly not least, don’t forget to have fun in process!