Apartments for Rent in Prince Edward Island

Prince Edward Island, with its beautiful scenery, rich history, and increasing development, is one of the most desired places to live in Canada. It is the smallest of the three Maritime Provinces, and the only one without land boundaries. Prince Edward Island (Also known as PEI), is sparsely populated, but still provides residents a small town atmosphere without the need to forgo big city benefits. From its capital of Charlottetown to its smallest of towns, visitors are bound to be captivated by PEI's diverse culture.

Apartments and townhouses in Prince Edward Island are not only located near some of the most stunning vistas in the world, but also near a host of colleges, shopping centers, museums, and beautiful sandy beaches, making this an ideal place to live for prospective tenants seeking educational opportunities, starting families, or beginning early retirement. Its diversifying economy and continual development has allowed the growth of a plentiful amount of attractive, cheap apartments and rooms for rent are abundant in its capital, Charlottetown.

The cost of apartment living in Prince Edward Island is among the lowest of all the Canadian provinces. A family can lead a relatively comfortable life without encountering financial strain while still being able to enjoy the various activities around PEI. Although PEI rentals are inexpensive, prospective tenants are encouraged to budget wisely as there are fewer high paying jobs in the region. Before committing to a particular apartment for rent in PEI, spend time researching the market and learning which regions are most appropriate for you and your budget.

Before beginning a search for PEI apartments for rent, review the following tips to help increase the likelihood of success:

PEI Apartments Rent Quickly

Have your documents, information, and checkbook ready before even starting your search. PEI Rentals move quickly in a competitive market, so you must be ready to act when the time is right. In some markets, prospective tenants are expected to pay a non-refundable application fee, security deposit for both the first and last month's rent and a possible apartment finder or broker's fee before moving in, all of which can exceed the first month's rent. To help offset the worries of landowners and better your chances of success, show PEI landlords your employment history and guarantee extra money upfront if absolutely necessary. 

Check Out the Neighborhood

Most people searching for townhouses or apartments know almost every detail about the amenities and location of the premises, but little about the activity of the neighborhood. Because of this, some end up living in an undesirable location. Visit a neighborhood several times and at different times of the day, talk to existing tenants and look at online reviews before signing a lease for an apartment for rent in PEI.

Create a Budget Regarding the Area

Different areas harbor different cost, so budget accordingly. Consider all monthly expenditures, including transportation and groceries in addition to utilities, phone, cable, internet and parking before deciding on a range for an apartment's rent. Most tenants find that dedicating 50% of their after-tax net income to rental costs will allow them to find an acceptable property as well as maintain a good standard of living.  

Thoroughly View the Apartment

It is common for renters to lease apartments based on online information without conducting a thorough inspection in-person. This is an unwise practice and can prove dangerous in the future. Ask to view the apartment and make sure everything functions correctly, including the stove, shower, and any appliances before signing a lease and sending any money to the landlord. Do not, under any circumstance, send money to a landlord without signing a lease.