8 Things You Need to Know Before Renting in Victoria

Victoria is one of the most beautiful cities in Canada. Our rich history, temperate climate, and stunning Great Bear Rainforest draw people both young and old to our island, and for many, finding a place to live can be a struggle.

With that being said, here are a few tips to give you an edge on the competition and make the process of finding the perfect home as smooth as possible.

Start Your Search Now

With the vacancy rate dropping in 2016 to 0.5%, Victoria has become one of the most competitive rental markets in Canada. With such high competition, rentals are being snapped up within days of listing, and open house showings can have dozens of applicants. If you know your lease is going to be up in the next few months, starting your search early can save you money and land you in a space you’ll love!

Use All of Your Available Resources

Rental listings are most often posted to a few different websites. Some local favourites for rental listings include UsedVictoria, Craigslist, RentalSource, and Padmapper. By keeping an eye on postings from a variety of sources and being quick to contact property managers you’ll set yourself up for success.

First Impressions Matter!

The rental process is much like a job interview. You’re seeing if the property and landlord will be a good fit for your lifestyle and preferences, the landlord is evaluating you to see if you appear to be responsible, trustworthy tenants. Do yourself a favour and start with a firm handshake and a smile, and come prepared with references, paperwork, and your checkbook just in case!

Don’t Forget About Your Pets

Pets can be family, and we’ve all heard horror stories of friends who have had to make a choice between giving up their pets and passing up on a place to live. To avoid any surprises, it’s important to account for pets early on in the process. Ask your landlord for their policy on animals. In some cases, a higher damage deposit may be necessary, or there may be an extra monthly charge to keep furry friends in the house.

Inspect the Property

If you’re getting serious about renting a property, a full walkthrough is essential to keep your landlord accountable, and to ensure that you’re not paying for others’ mistakes. Keep an eye out for leaking pipes or faucets, test the burners of your stove, and feel the temperature of your fridge and freezer before signing any paperwork. Also make note of general wear and tear from previous renters, and remember to test the fire alarms: safety first!

Watch Out for the Latest Scams

When rental units are being snapped up like hot cakes, it’s easy to forget the first rule of renting: always see the place before signing paperwork or giving a deposit! I recently had an experience where a man posed as a landlord online in an effort to lure unsuspecting Victorians into sending a deposit for a property that he didn’t even own! He used a photo from a recently sold apartment, and promised to FedEx the keys from New York as soon as he received a MoneyGram with the deposit. Be careful of landlords who ask for money or personal details without showing you the property, and whenever possible, try to meet them in person!

Ask for Everything in Writing

A verbal agreement simply won’t cut it when it comes renting. While at first that may seem like a great, simple way to do things, a written contract keeps both parties in line. This protects you from things like spontaneous rent increases, and gives you a great legal tool in the event that something should go wrong.

Know Your Rights as a Tenant

Knowing your rights as a renter is so important! In British Columbia we are fortunate to have clear and comprehensive renting laws, which are designed primarily to protect you, the renter! Take a minute to educate yourself here.

There You Have It!

You now know how to find a place, set yourself up for success, and educate yourself on your rights.

Have we forgotten anything? Let us know your tips for renting in the comments section below!

Ready to leave the rental market behind and become a home owner? We can help! Check out our real estate listings page for every listing in the city, or message us on Facebook here!