Renting an apartment as a student can be a major financial commitment, but with the right strategies, you can keep costs under control. Whether you're looking for apartments for rent in Toronto, Edmonton, Calgary, or any other city, here are some practical ways to save money while studying.
One of the most effective ways to cut down on rent costs is to share your apartment with roommates. Splitting expenses like rent, utilities, and internet with others can significantly lower your monthly housing costs. Look for student apartments that offer multiple bedrooms or shared living arrangements.
Many professional management companies and REITs, including Boardwalk, offer student housing and discounts or incentives. Some universities also have partnerships with local housing providers, making it easier to find affordable student-friendly apartments close to campus. Always check with your school’s housing office for recommendations.
Websites specifically catering to student housing often list more affordable options than mainstream rental platforms. Explore university bulletin boards, student Facebook groups, and dedicated student rental sites like Places4Students to find the best options for affordable student rentals.
While living close to campus is convenient, it often comes at a premium price. Consider off-campus housing a bit further from downtown or main university areas to find more budget-friendly options. For instance, Toronto apartments for rent in suburbs may be cheaper than those near the city centre. Look for places with easy access to public transit such as:
Some apartments for rent in Edmonton, Ottawa, and other major cities include utilities like heat, water, and internet in the monthly rent. Opting for an all-inclusive apartment can help you avoid surprise expenses and better manage your student budget.
Renting from a Real Estate Investment Trust (REIT apartments) can be a smart choice for students. Unlike independent landlords, REITs manage large communities, offering professional maintenance, landscaping, and management. This means you don’t have to worry about unexpected repairs, snow removal, or lawn care—services that are typically included in your rent.
Many apartment rentals offer discounts for students, especially near university campuses. Be sure to ask about any available deals when searching for affordable student rentals. Additionally, some cities offer rental assistance programs, such as:
Check local rental programs to see if you qualify for student housing support.
Rental prices tend to be lower during certain times of the year. If possible, start your search during off-peak seasons, such as winter or just after the school year begins, when fewer students are looking for housing.
Websites specifically catering to student housing often list more affordable options than mainstream rental platforms. Explore university bulletin boards, student Facebook groups, and dedicated student rental sites like Places4Students for cheaper apartments.
To save money beyond rent, be mindful of utility usage. Small changes like turning off lights when not in use, using energy-efficient appliances, and sealing windows can help cut costs. Some cities offer energy-saving programs that may provide rebates or incentives.
If you don’t plan to stay in one place for a full year, consider short-term lease options for students or month-to-month rental agreements. Some REITs and professional management companies offer flexible lease options that align with academic terms, allowing you to avoid paying rent for months when you’re not in school.
Boardwalk offers a variety of student-friendly housing options conveniently located near major educational institutions across Canada. These buildings provide comfortable living spaces with easy access to campuses, helping students save on commuting time and costs.
For a comprehensive list of student housing options, visit Boardwalk's Student Housing page to find a residence that best suits your academic needs.
Saving money on rent while studying requires a mix of planning, research, and flexibility. Whether you're searching for apartments for rent in Toronto, Edmonton, Calgary, or other major student hubs, these tips can help you find an affordable place to live without compromising on quality. Prioritize your needs, explore different neighbourhoods, and don’t hesitate to reach out for help.
By making smart rental decisions, students can focus more on their studies and worry less about financial stress.