Renting an apartment in Ontario is a relatively straightforward process, until it hits that there’s a few hundred dollars of hidden costs every year. It can leave you feeling unprepared and scrambling for extra funds. To help you prepare for this, we’ve split the hidden costs into two categories – pre-move expenses and recurring expenses. Hope this helps!
Pre-move expenses
Application fees
Rental companies charge $20 to $50 in application fees to run a credit check on you, even if they might feel a need not to.
Deposits for hydro and other utilities
A lot of older apartment buildings include heat and water in rent. Hydro is always additional and can cost up to $100 in deposit. In newer buildings, all utility costs are the tenant’s responsibility and can cost around the same in deposits.
Internet set-up charges
Whether you work from home or not, the internet has become a must-have nowadays. One-time setup fees cost $50 to $100 depending on the provider and area you live in. You could ask the rental manager if they have a pre-installed connection to save this upfront cost.
Pet deposits
While Ontario law prohibits pet damage deposits, fees still apply in many cases, often ranging from $50 to $300 upfront. There may also be an additional monthly fee.
Security deposits
In Ontario, landlords can’t legally charge a damage deposit, but they can collect last month’s rent deposit when you sign the lease. While not technically hidden, it’s an expense renters often overlook.
Recurring expenses
Utilities
You’ll need to pay for hydro, water, and gas separately, which can add $100–$300 monthly to your living costs, if they aren’t included in the monthly rent. Hydro costs go up during summer if you’ve installed an air conditioner.
Internet bill
Most renters in Ontario pay $50 to $100 in home internet fees monthly. To reduce this cost, switch to another plan or provider during Black Friday. They have the best deals during those 10-15 days.
Laundry costs
If your unit doesn’t have in-suite laundry, you’ll likely pay for shared facilities. Laundry costs $5–$7 per load, adding $40–$50 monthly, depending on usage.
Tenant insurance
Tenant insurance isn’t optional for many landlords, and it’s a smart investment to protect your belongings from theft, fire, or water damage. Policies cost $50–$75 per month, and you can often bundle it with auto insurance for savings.
Parking fees
Above ground parking costs between $50 to $200, depending on whether you live in a big or a small city. Underground parking usually starts at $150 in most places.
While landlords are responsible for major repairs, renters often cover minor maintenance costs, like replacing light bulbs or fixing small damages. These costs can add up over time.
Annual rent hikes
Every year, landlords in Ontario are allowed to increase rent. For units built before 2018, Ontario laws control how much rent can be increased. For 2025, this guideline is capped at 2.5%. However, for units built afterwards, there’s no limit and is purely the landlord’s discretion.
Ask your landlord any questions you have to avoid surprises later. Happy renting!
