Renting Your First Apartment in Canada

Renting your first apartment in Canada is exciting and stressful in equal measure. The rental market in most Canadian cities is competitive, costs are high, and landlords expect documentation you may not have prepared. This guide walks you through every step of finding and securing your first rental in 2026.

How Much Rent Can You Afford?

The standard guideline is to spend no more than 30% of your gross (before-tax) income on rent. For a student or recent grad earning $2,500/month, that means keeping rent at or below $750. In major Canadian cities, that is extremely challenging, which is why roommates are so common among young adults.

A more practical formula: add up all your monthly expenses, subtract them from your monthly income, and whatever is left is your maximum rent budget. Aim to keep at least $200–$400 per month as a buffer.

What Landlords Look For

Most landlords conduct a credit check and reference check before approving a rental application. As a first-time renter or student, you may have:

• A limited credit history or no credit score
• No rental references
• Income from a part-time job or student loan (which some landlords do not accept)

Overcome this by offering a co-signer (usually a parent), paying 2–3 months rent upfront, or providing bank statements showing sufficient savings. Building your credit score early — even with KOHO's credit-building feature — puts you in a better position.

Move-In Costs to Budget For

• Last month's rent deposit: Ontario landlords can legally charge first and last month's rent upfront. Other provinces vary.
• Security deposit: In most provinces outside Ontario, landlords charge a security deposit (typically half or one month's rent)
• Utilities setup: Electricity, internet, and renter's insurance may require setup fees or deposits
• Moving costs: Truck rental, movers, or just a van with friends — budget $150–$500
• Basic furniture and supplies: Budget $500–$1,500 for essential items if you are starting from scratch

Apartment Hunting Tips for 2026

1. Start 60–90 days before you need to move: Good rentals go quickly in competitive markets.
2. Use multiple platforms: Kijiji, Zumper, Rentals.ca, PadMapper, Facebook Marketplace, and your school's off-campus housing board.
3. Tour in person before paying anything: Rental scams are common — never pay a deposit for a place you have not physically visited.
4. Inspect carefully: Check for signs of mold, water damage, working appliances, and functional heating before signing.
5. Read the lease fully: Do not skip sections. Understand what is and is not included (heat, water, parking, laundry).

Your Lease: What to Check Before Signing

• Lease start and end date (fixed-term vs. month-to-month)
• Rent amount and what utilities are included
• Rules about subletting and guests
• Pet policies
• Notice required to end the lease (typically 60 days in most provinces)
• Any clauses about rent increases

Setting Up Your Apartment Budget

Once you move in, build a monthly budget that accounts for all recurring costs: rent, utilities (electricity, internet, water), groceries, transit, phone, and renter's insurance. KOHO's automatic spending categories make it easy to see exactly where your money goes each month and flag when you are overspending in any category.