What to know
- Winter tends to have fewer listings but less competition, giving renters more leverage to negotiate rent, move-in dates, or extras like parking.
- Spring brings more inventory and more choice, but also rising competition, meaning well-priced units can move quickly and renters need to be prepared.
- Summer is peak rental season, with the highest demand from renters leading to faster turnover, higher rents, and little room for negotiation despite more listings.
- Fall marks a slowdown from summer’s rush, with slightly less competition but more limited inventory, making timing and readiness key.
The rental market in Toronto is no easy place to navigate, but each season can bring a different advantage (and challenge) to your search. To help renters find their ideal home in the city, a Toronto-based realtor is revealing home-hunting tips for different seasons of the year.
It is no news that looking for a new rental home in Toronto can be a pretty daunting task. From skyrocketing prices to listing scams, there are plenty of challenges out there for renters.
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Certain times of the year come with perks that reduce the sometimes stressful experience, with each season bringing its own pros and cons to the rental process. To help renters figure out how to take advantage of the seasons, and find out what the best time is for them to move, Now Toronto spoke with Agape Fernandez, a listing expert at King Realty Co.
WINTER
Love it or hate it, the coldest season of the year does come with some advantages for renters.
With temperatures dropping outside, many renters might choose to hold off on moving during the winter, which Fernandez says can mean less competition when it comes to hunting for a new unit.
“If not a lot of people are entering the rental market, [landlords] want to find their match, right? So, I think the winter market, when it’s slower, not a lot of people are in the market, gives you that leverage to negotiate, whether it be rent, maybe the move-in dates or inclusions like parking,” she said.
However, a slower market also means less available listings, so it could be hard finding your ideal option.
Another thing to consider is that the cold might make it less convenient to move your belongings from your former home to the new one.
“Some people, they’ll thug it out, like, I’ll put the coat on, put a scarf on the fridge or something, so the [furniture] is not cold, but like, it really all depends on the person,” Fernandez added.
SPRING
When the ice starts to clear and the flowers start to bloom, the rental market also seems to find its balance.
As temperatures start to go up, Fernandez says more listings often become available, which for renters, means more options to choose from than during winter.
However, more units don’t equal endless possibilities. During spring, more people also seem to start looking to move, which means the abundance of listings is met with more competition.
“I would say the only drawback there is that competition, right? So, when more people are coming in, we’re seeing better opportunities. There is more competition, which means preparing your files in accordance. Planning in advance is very key, because well-priced units or desirable neighbourhoods or listings, they can go fast,” she said.
SUMMER
For Fernandez, the arrival of summer also signals the peak of the rental market.
“Weather plays a big role. A lot of people want to make that move because it’s convenient. You don’t have to worry about putting on your winter coat, right?” she said.
Besides the convenience, summer also signals the time students are preparing for the beginning of their fall classes and many workers are also looking into making career changes, which means a lot of renters are flooding the market.
“It’s like spring ramped up, in the sense where the competition is high. So higher competition can be equivalent to higher rent, maybe less room for negotiation, and again, [renters should be] acting even quicker than springtime, because the inventory is just flying by,” Fernandez said.
Meanwhile, the busy market also makes landlords more inclined to put their homes up for rent, which could also bring more units available.
But even then, the agent warns: “If you find a good one, move with it, because it’ll go fast.”
FALL
As leaves start to turn golden, the market often slows down.
During fall, competition tends to drop, with less people looking to move, while listings also become a bit rarer. However, negotiating is still not as easy as during the winter months.
“Spring still leaves room for negotiation, just like winter. But I still think that fall still ends up being a bit busier, because, again, [there are] people needing to move locations because of school or moving because of a job, it typically happens in fall,” she said.
WHAT IS THE BEST SEASON TO MOVE?
With each season offering their advantages and challenges, Fernandez says the answer depends on each renter and their priorities.
In short, winter can be the ideal time to move for those looking for more room to negotiate terms and rent prices. However, those who want the comfort of not dealing with freezing temperatures while moving their belongings around might prefer to wait for spring or summer before making the move.
Regardless, the expert says it is important to be prepared.
“With the rental market, once you hand in your 60-day notice, of course, you have 60 days to look for a new place, but sometimes people wait till the tail end of that 60 days, and then they’re rushing to find their next rental,” Fernandez said.
“Be prepared. Have your files ready, whether it is your proof of income, your letter of employment, your credit scores. Keep that tucked away in a folder, in your email or something, just so it’s accessible, because you’ll be surprised when the day comes that you’re putting in an offer. Timing is key.”
