1. Verify the unit and intended use
A finished space is not automatically a lawful rental unit. Confirm zoning, permits, registrations or licensing where applicable, fire and building requirements, safe exits, smoke and carbon-monoxide alarms, parking, and utility arrangements for the exact property. Condominium owners must also review the declaration and rules.
Tell the insurer and lender how the property will be used. Coverage or financing assumptions can change when an owner-occupied home becomes fully or partly rented. Obtain legal or technical advice for unresolved issues before placing a tenant.
2. Complete repairs and record condition
Test locks, windows, plumbing, appliances, heating, cooling where provided, lights, alarms, and included equipment. Correct known safety and maintenance issues. Photograph and video the clean, empty unit with dates, and keep invoices and manuals.
A move-in condition record does not remove the landlord's maintenance obligations, but it creates a shared reference for later questions. Invite the tenant to review it and report discrepancies in writing.
3. Define the complete offer
Set the lawful rent and write down what is included: electricity, water, heat, internet, parking, storage, appliances, snow or lawn service, and condominium amenities. Identify separate meters, shared spaces, access, smoking terms, insurance requirements, and any valid additional terms.
Ontario's standard lease is required for most residential tenancy agreements. Extra terms cannot remove rights or responsibilities under the Residential Tenancies Act.
4. Advertise and screen consistently
Use accurate photos and describe the property, cost, availability, features, and rules. Avoid language that expresses a preference based on protected personal characteristics. Establish objective criteria before applications arrive and apply the same process consistently.
Verify identity, income or ability to pay, employment where relevant, references, and credit information with consent and secure handling. Look for consistency across documents rather than making assumptions about a person's name, family status, source of lawful income, or other protected ground.
5. Complete the agreement and move-in
Review the lease, lawful deposits, payment method, keys, parking, utilities, insurance, move booking, and contact procedure before funds and possession are exchanged. Ontario guidance states that a rent deposit is limited and is for the last rental period, not damage.
Give required documents and receipts, retain signed copies, and record meter readings and condition. A good file should allow either party to understand what was agreed without reconstructing a verbal conversation months later.
Know when to obtain legal advice
Existing tenants, owner move-in plans, shared accommodation, short-term use, non-residential components, unauthorized units, guarantors, unusual additional terms, and disputes can raise legal issues. A real estate agent does not replace a lawyer or licensed paralegal for tenancy-law advice.
Forms, notice rules, and rent rules can change. Check the current Ontario and Landlord and Tenant Board information before acting.