New keys feel great—until the math lands. This guide keeps it practical for students and newcomers in Ontario. You’ll see what money to have ready, how the standard lease protects you, how utilities and insurance really work, and one short message you can copy when a landlord asks for too much.
A basement one-bed in Hamilton, May 2025
For example, in Hamilton in May 2025, a small one-bed basement near Mohawk College lists for $1,625 with heat and water included. Electricity sits around $55–$75 per month for a place this size. Internet plans usually fall between $60–$90. On signing, expect first and last month’s rent of $3,250. A $40 refundable fob deposit is common. Tenant insurance runs $20–$30 per month. The realistic first-month cash need lands near $3,350–$3,450. That number makes it easier to judge if this unit fits your budget once groceries and transit are in the picture.
Read: Buying Your First Car in Ontario
Why deposits are where mistakes happen
Ontario allows first and last month’s rent. A key or fob deposit works only when it matches replacement cost and is refundable. Damage deposits and pet deposits aren’t permitted. Ask for receipts for rent and deposits and keep them together in one folder (future-you will be grateful).
What goes in a strong renter file
A clean package helps: a credit report, a job letter, recent pay stubs, and references. New to Canada can swap in bank statements, study-permit details with proof of enrolment, or a Canadian guarantor. You control your personal data here. “I don’t share my SIN for rentals, but here are my credit report and income documents,” is a line that protects your privacy while showing you’re serious.
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The standard lease is the guardrail
Ask for Ontario’s Standard Form of Lease. It spells out what is included, building rules, and any extra terms. When you request the standard lease and it doesn’t arrive within the timeline set by the province, you gain leverage that can include withholding one month’s rent until the proper form is provided and, in some cases, ending a fixed term early. It looks technical, but this guardrail prevents surprise clauses later.
Trouble → fix
The ad says “heat and water included,” but the lease says you pay all utilities. Reply with a screenshot of the ad and ask the landlord to add “heat and water included” in the included-services section of the standard lease before you sign. Quiet, clear, and effective.
Utilities and internet without bill shock
Call the hydro provider once you have a move-in date. There can be a small deposit if you’re brand new in Canada. Ask whether heat is electric or gas and, if electric, what winter bills look like for that unit. For internet, confirm which providers serve the address and whether old lines need a technician visit. Add laundry costs if it is coin-operated so the monthly plan stays honest.
Read: Ontario High Demand Careers: Step-by-Step Guides
Insurance for the bad day you hope never comes
Tenant insurance covers two things that matter. Contents covers your stuff after events like theft or fire. Liability steps in if something in your unit harms another unit or the building. Many leases expect proof. You can list the landlord as “additional interest” so they get a heads-up if the policy is cancelled without giving them control over it. Small monthly cost, big save when a pan smokes up the kitchen and the condo board sends a repair bill.
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The five minutes before you pick up the keys
- Take a quick set of time-stamped photos before the furniture goes in.
- Test stove, fridge, taps, and a couple of outlets and note anything off.
- Count keys and fobs together and confirm the number by text.
- Keep the receipts for rent and deposits in one place.
Read: Student transit discounts in Ontario (PRESTO, GO, TTC, VIA)
What happens when rent goes up
In Ontario, rent can rise once every twelve months with proper written notice on the official form. Many places follow the province’s annual guideline while some newer units are exempt from the cap. The notice rules still apply. Ask which rule your unit falls under and sketch next year’s budget with that answer in mind.
Copy-paste message to a landlord
Hi [Name], thanks for the lease. The ad listed heat and water included—can we add that under “Included Services” on the Ontario standard lease? Also, I don’t share my SIN for rentals, but I’ve attached my credit report, job letter, and two recent pay stubs. Happy to provide anything else you need. —[Your Name]
Renting First Apartment in Ontario FAQ
Do I have to give post-dated cheques or set up pre-authorized debit?
No. Ontario law doesn’t let landlords require post-dated cheques or auto-withdrawals. You can choose them, but it must be voluntary.
A simple reply that works: “I pay on the 1st by e-transfer; I don’t use post-dated cheques or PAD for rent.”
Can a landlord charge an “application fee” or a screening fee?
No. “Extra” fees (application, admin, processing) are prohibited under the RTA’s illegal-charges section.
If you’re asked for one, you can still provide your own credit report (Equifax/TransUnion) and refuse the fee.
If you paid already, you can apply to the LTB (T1) to seek a refund. Keep receipts or screenshots.
Does my last month’s rent deposit earn interest—and how do I get it?
Yes. Each year, the landlord owes interest at the rent-increase guideline rate.
Most landlords apply it to “top up” your last-month deposit when rent increases; you can also ask for the interest as a payment/credit if there’s no increase that year.
Ask annually by message so there’s a record.
Leaving early—should I sublet or assign?
Assignment transfers the tenancy to a new tenant (clean hand-off). Sublet is temporary; you remain responsible.
Landlords can’t unreasonably refuse a proposed assignee/subtenant; if they do, you can apply to the LTB to resolve it.
Expect to cover reasonable advertising costs, but not extra “fees.” Start with an email asking for written consent and timeline.
Source: Guide to Ontario’s Home and Housing
