I found a private condominium for rent by it's owner.

Are there any things one should check before renting a private condominium?

Any pit falls regarding lease agreement I should watch out for?


Is it better than renting a regular rental apartment if the costs are similar?

Ensure that he is the "actual" owner of the property and that he has not rented it to anyone else as well...taken advance from other tenants for the same unit(such fraud has happened in Toronto before). Checking with the Super of the Condo may be able to verify this info.

If the costs are similar, I would suggest to go with the MLS (R) listed/managed rental accomodation. There are less chances of fraud there.

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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK

Any issues with plumbing, water problem .... Hmm . How fast they will fix the problem. Can you call them in the middle of the night...