Condo Lease Cost Breakdown & Interactive Checklist | Client Guide

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Client Leasing Guide

Cost & Preparation Checklist

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Condo Leasing Costs

It takes time, precision, and preparation to secure the right home. Check off each requirement below as you prepare for lease submission.

A) Upfront Costs: Due upon signing and possession

Required Deposits & Key Transfer

1) First and Last Month’s Rent Deposit: Due within 24 hours of an accepted lease agreement via certified bank draft, wire transfer, or direct deposit. Secures the lease, pays month 1, and prepays your final month.
2) Key & FOB Security Deposit: A fully refundable security deposit covering front doors, common area fobs, mailboxes, and parking remotes (typically $150 to $350 per set), returned at lease end.
3) Refundable Elevator / Moving Deposit: Required by condominium management to reserve the service elevator (usually $200 to $500), refunded once security clears common areas after move-in.

B) Ongoing Monthly Expenses: Budgeting your monthly tenancy

Modern Condominium

Individually sub-metered electricity & water

Traditional / Older Building

Utilities frequently included in condo maintenance

Monthly Commitments

1) Base Rent: Payable on the 1st of every month via post-dated cheques, pre-authorized debit (PAD), or electronic transfer.
2) Sub-metered Utilities (Hydro / Heat Pump / Water): Setup account with utility provider (e.g. Provident or Wyse); runs approx. $60 – $150+/month based on consumption.
3) Tenant Liability & Contents Insurance: Mandatory requirement with proof submitted prior to key release ($1M – $2M liability coverage, avg. $25 – $45/mo).
4) Internet, Cable, & Home Media: Personal connectivity setup (typically $60 – $100/mo).

C) Incidental & Setup Costs: One-time and conditional fees

Setup & Additional Building Fees

1) Utility Account Setup / Transfer Fee: One-time provider connection fee (approx. $30 – $60) appearing on first invoice.
2) Non-Refundable Elevator Booking Fee: Check building rules for mandatory concierge / security booking fees (approx. $50 – $100).
3) Parking Space & Locker (if separate): Verify whether parking or storage is leased separately (typically $150 – $250/mo parking; $50 – $100/mo locker).
4) Pet Registration & Moving Logistics: Submit building pet registration form & schedule professional movers / rental vehicle.

D) Cost Summary & Timing Reference

Timing	Expense Item	Estimated Cost / Range
At Acceptance	First & Last Month Rent	2 Months' Agreed Rent
Key Pickup	Key & FOB Deposit	$150 – $350 (Refundable)
Prior to Move	Elevator Damage Deposit	$200 – $500 (Refundable)
Monthly	Agreed Base Rent	Per Lease Agreement
Monthly	Sub-metered Utilities (Hydro/Water)	$60 – $150 / mo (if separate)
Monthly	Tenant Insurance ($1M–$2M Liability)	$25 – $45 / mo
First Bill	Utility Activation Fee	$30 – $60 (One-Time)

E) Interactive Tenant Cost Calculator

Enter your estimated rent and numbers below to calculate your required move-in capital, total upfront cash, and total recurring monthly housing budget in real time.

1. Monthly Housing Costs Recurring

Monthly Base Rent Primary lease rate

$

Separate Parking / Locker If not in lease ($0 if included)

$

Hydro & Sub-metered Utilities Avg. $75 – $120

$

Tenant Contents & Liability Insurance Avg. $30 – $40

$

Internet & Home Media Avg. $65 – $90

$

2. Upfront & Move-In Costs One-Time / Initial

Rent Deposit Multiplier Normally 2 (First + Last)

x

Key & FOB Deposit Refundable upon move-out

$

Elevator Damage Deposit Refundable post-move

$

Utility Setup & Move-In Admin Fee Non-refundable setup/concierge

$

Estimated Moving / Truck Expenses Hired movers or rental

$

Client Cost Breakdown Summary

Live Calculated

Total Cash to Close & Move In $5,880 Rent deposit + deposits + moving

Total Monthly Housing Cost $2,785 Rent + utilities + insurance + net

Of Which Refundable $550 Key & elevator damage deposits

First & Last Month’s Rent Deposit: $4,800

Refundable Building Security Deposits (Fob + Elevator): $550

One-Time Administrative & Moving Logistics: $530

Total Recurring Monthly Living Commitment: $2,785 / mo

CENTURY 21 Percy Fulton Ltd. Brokerage

INFO & SERVICES

CENTURY 21 Percy Fulton Ltd. Brokerage

2911 Kennedy Road, Toronto, ON M1V1S8

(416) 298-8200

INFO & SERVICES

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