As a general rule, housing costs should be less than 30% of before-tax household income. This includes:
- Utilities (electricity, heat and water)
- Municipal services (if applicable)
Below are other considerations to take into account before renting:
Tips for tenants…
While there are no perfect rentals, there is a perfect rental for you.
While you might have to compromise on a few of your wants, finding a place to rent becomes a lot easier when you know what you will and won’t settle for, including how much you want to spend.
Tips for landlords…
Before deciding how much to charge for rent, find out what a comparable price would be for a similar unit in your area. Some provinces keep rental registries with information on prices over several years, or you can check our annual Rental Market Reports.