The value of using an agency to find a rental

It can be overwhelming to find a rental in your ideal neighbourhood. Price isn't the only factor that needs to be considered; there's also square footage, the number of bedrooms, on-site amenities and included utilities to consider. If you don't have time to sort through listings, an agent will.

Agents can use your budget along with your list of wants and needs to find rentals for you. This is helpful because they can really narrow down the options.

If you're moving to another city or province, it might not be possible for you to do a proper, in-person walk-through. Having a third party on the ground searching for you can be incredibly valuable. They can be your eyes and your voice when you cannot be there in person.

Trying to find a rental in a major city like Toronto or Vancouver can be incredibly stressful. When demand for rentals outpaces the supply of vacant units, as it often does in these cities, good listings can draw several applications within days.

Realtors know the process, which is why they're an invaluable asset when trying to break into a much sought-after market. An agent can also deal with the landlord on your behalf, which can be a significant load off your plate.

In Ontario, the landlord normally pays the agent's commission when a lease is signed, usually a set portion of the rent, so a renter working with a licensed real estate agent rarely pays anything. Read any representation agreement before you sign it so you know if there is a case where you would owe a top-up.

Be wary of anyone who asks you for an upfront finder's fee or a deposit before you have seen the unit or signed a lease. Under Ontario's Residential Tenancies Act, a landlord can collect a rent deposit and a refundable key deposit, but not application or finder's fees. A demand for money up front is a common rental scam red flag.

• Real estate agent (realtor): licensed, works from the same MLS listing system used for sales, and can show you units that landlords have listed through a brokerage. Paid by the landlord.
• Independent rental agency: matches renters with landlords from its own pool of listings. Ask who pays them and get the fee, if any, in writing before you start.
• Relocation service: often arranged and paid for by an employer for a job move; handles the search, viewings and sometimes the lease negotiation for you.

Affordability doesn't just come from seemingly cheap rent. You have to dive deeper to learn what the true costs will be. Is heat and water included in your rent? What about electricity? How much are the laundry services, and does the building even have a laundry room? How far away is the place from work, school or daycare? All of these things will contribute to your overall cost of living.

A rental agent can crunch those numbers and figure out which rental apartment offers the best value for your money. In the end, that is what truly makes a place affordable. No surprises - just a place you can comfortably call home.

Using a rental agent is a great way to find your dream apartment, but if you prefer to do some preliminary searching yourself, Gottarent.com is a great place to start. Find your ideal rental, hassle-free!