A rental market can offer more choice while remaining expensive. The CMHC’s December rental-market release described rising vacancies nationally and continuing affordability challenges. In Montréal, vacancies increased while average rents still rose. More available units should therefore prompt a closer comparison, rather than an assumption that every asking rent is a bargain.

Make one comparison sheet for the apartments you are considering. Record the rent, included utilities, parking, appliances, laundry, storage and commuting costs. Check which advertised incentives are temporary and which inclusions are written into the lease.

For example, one free month on a $2,000 monthly rent produces $22,000 in rent over the first twelve months, or approximately $1,833 a month on average. That calculation does not change the rent stated in the lease or establish what a later renewal will cost. Get the promotion’s conditions in writing and budget for the amount you will actually pay once it ends.

An attractive listing rent does not guarantee twelve months of income. In a hypothetical unit renting for $2,000, one vacant month reduces annual gross rent from $24,000 to $22,000 before repairs, taxes, insurance, financing or leasing costs. That simple scenario shows why a small reserve matters.

Compare nearby units of similar size, condition and inclusions. Ask how long comparable units have been available, rather than judging demand only by the number of online advertisements. For an occupied property, review the actual leases and supporting financial documents instead of assuming every unit can immediately achieve a new advertised rent.

Whether you are renting a home or evaluating an income property, the goal is the same: understand the full cost and the assumptions behind it. I can help organize the property comparison so a compelling advertisement becomes a clear, informed decision.