How the Milton rental market works, your basic rights as an Ontario tenant, and how to tell when buying starts to make more sense.
Plenty of people rent in Milton before they buy here, whether they're new to the area, saving a down payment, or waiting for the right neighbourhood. Most rentals are basement apartments, freehold townhouses and condos, with detached homes at the top of the range.
Finding a rental
- Have your documents ready: ID, proof of income, references and a credit report
- Good units move fast, so be ready to apply the day you view
- Ask what's included: utilities, parking, laundry, appliances, snow removal
- For basement apartments, ask whether the unit is a registered second unit
Browse current rentals on Halton Home Rentals. A REALTOR® can also help you find leased listings on MLS®.
Your rights as an Ontario tenant
- Standard lease: most residential tenancies must use Ontario's Standard Form of Lease.
- Deposits: a landlord can ask for a rent deposit of up to one month's rent (often used as last month's rent) and a refundable key deposit. Damage deposits aren't allowed.
- Rent increases: generally once every 12 months with 90 days' written notice. Many units are capped by the province's annual rent increase guideline; units first occupied after November 15, 2018 are exempt from the cap.
- Disputes: go to the Landlord and Tenant Board.
This is a general summary. Check the Ontario government's tenant resources for current rules.
Rent or buy?
Renting gives you flexibility and no maintenance bills. Buying builds equity and fixes your housing cost, but carries closing costs, property tax and upkeep. A rough test: compare your rent to the full monthly cost of owning a similar home (mortgage, property tax, insurance, condo fees, maintenance), then think about how long you'll stay. The longer you'll stay, the better buying usually looks.
If you're getting close to a down payment, see how pre-approval works and budget for closing costs.
Thinking of buying a home to rent out?
Milton's commuter demand supports rentals near the GO station and highways. Talk to Steve about the numbers on a specific property.
Looking for a Rental?
Browse current rental listings across Halton Region.