When renting in Ontario, it's essential to know your rights around deposits. While some types of deposits are commonly requested (like key deposits), Ontario law strictly limits what landlords can legally collect. Here's a clear breakdown of how key deposits work—and what’s lawful.

1. Legal Status of Key Deposits in Ontario

• Yes, key deposits are legal—but only under strict conditions. They must be refundable and not exceed the actual cost to replace the keys or fobs.

• These rules are backed by the Residential Tenancies Act, 2006 and Ontario regulations.

• If locks are changed by the landlord, tenants should not be charged for new keys, though landlords may keep the original deposit as credit.

2. Maximum Key Deposit Allowed

• The maximum key deposit is strictly the actual or expected cost of replacing the key, card, or fob.

• Landlords are required to provide receipts or evidence of the replacement cost if requested.

3. Are “Key Money” or Other Extra Deposits Legal?

• No, "key money" or any deposit beyond covering key replacement costs is not legal in Ontario.

• Deposits for damages, pets, cleaning, or utilities are explicitly illegal.

4. Maximum "Cash for Keys"

• The only “cash for keys” amount permitted is that which equals the key replacement cost—nothing more. Any variation or inflation of that amount is not permitted.

5. Purpose of a Key Deposit

• It acts as security to ensure tenants return all keys and access devices at the end of tenancy.

• If keys are not returned, the deposit can be used to cover the actual replacement cost only.

• The deposit must be returned promptly—typically within a few business days (often 5–10 days)—once keys are returned.
  
  

Final Summary

Key deposits in Ontario are allowed—but only when they are:

1. Refundable

2. Equal to or less than the actual cost of replacement

3. Promptly refunded once all keys/devices are returned

Any extra deposits—for damage, pets, cleaning, or utilities—are illegal. If your landlord refuses to return your key deposit or overcharges, you can apply to the Landlord and Tenant Board (Form T1) for resolution.

Frequently Asked Questions

1. What is the maximum key deposit in Ontario?
It must not exceed the actual replacement cost of keys, fobs, or remotes—and proof or receipts may be requested.

2. Is key money legal in Ontario?
No—any extra "key money" beyond replacement cost is not legal. Only key deposit is allowed, solely for replacing keys.

3. What is the maximum "cash for keys"?
Same as key deposit—it must align with replacement cost only, not inflated for any other purpose.

4. What is the point of a key deposit?
It ensures tenants return all keys/access devices and covers legitimate replacement costs if they don’t. Once keys are returned, the deposit must be promptly refunded

South Riverdale has quickly become one of Toronto’s hottest neighbourhoods, blending community charm with modern convenience. At the heart of it all is Riverside Square, a standout development attracting buyers who want both lifestyle and value. Here’s why Riverside Square continues to rank high on the list for South Riverdale buyers.

1. Location That Balances City Energy with Neighbourhood Charm

• Riverside Square sits in the heart of South Riverdale, offering easy access to Queen Street East, The Danforth, and the downtown core.

• The neighbourhood delivers a rare balance of vibrant nightlife, cozy cafés, and community-focused spaces.

• Proximity to major roads and transit hubs makes it convenient for professionals and families alike.

2. Modern Condo Living with Thoughtful Amenities

• Riverside Square offers residents features like a rooftop pool, fitness centre, party room, and concierge services.

• Interiors boast sleek finishes, open layouts, and floor-to-ceiling windows that maximize natural light.

• Buyers are drawn to a development that prioritizes both comfort and style in an urban setting.

3. Strong Investment Potential

• South Riverdale’s growing popularity has made it one of Toronto’s most in-demand real estate markets.

• Riverside Square condos appeal to both end-users and investors thanks to competitive pricing compared to downtown.

• With steady rental demand in the area, buyers see Riverside Square as a smart long-term investment.
  

4. A Walkable and Connected Neighbourhood

• Riverside Square benefits from a 95 Walk Score, meaning everyday essentials, restaurants, and entertainment are just steps away.

• The area is highly bike-friendly and offers easy transit options along Queen Street and Broadview Avenue.

• For those who love a car-free lifestyle, South Riverdale is one of the most accessible communities in the city.
  

5. A Thriving Community Vibe

• South Riverdale has a strong sense of identity, with local markets, community events, and independent shops creating a welcoming atmosphere.

• Riverside Square adds to this fabric by bringing together like-minded residents who value both community and modern living.
  
  

Final Summary

Riverside Square has earned its place as one of the most sought-after developments in South Riverdale. With modern amenities, unbeatable location, strong investment potential, and a neighbourhood full of charm, it’s no wonder buyers are eager to call Riverside Square home.

Frequently Asked Questions

Why is Riverside Square popular with South Riverdale buyers?
Its combination of location, amenities, and value make Riverside Square a top choice for buyers who want to enjoy modern condo living while staying connected to Toronto’s east end charm.

Is South Riverdale a good area to buy real estate?
Yes. South Riverdale is one of Toronto’s most desirable neighbourhoods, offering great schools, green spaces, transit options, and a strong sense of community—all factors that support long-term property value.

What amenities does Riverside Square offer?
Residents enjoy features such as a rooftop pool, fitness centre, party room, and concierge services, alongside stylish suites with modern finishes.

Is Riverside Square a good investment for rental income?
Absolutely. With steady rental demand in South Riverdale and competitive pricing compared to downtown, Riverside Square attracts both tenants and investors looking for long-term growth.

What makes South Riverdale unique compared to other Toronto neighbourhoods?
South Riverdale blends urban energy with small-community charm. From trendy restaurants and cafés to local parks and walkable streets, it offers a lifestyle many buyers find more appealing than the busier downtown core.

Investors aiming for strong returns are always watching for neighborhoods where the market isn’t just performing—it’s outperforming expectations. In 2025, the Golden Rule remains: buy smart, based on data and community strength. Here’s a refined look at the areas delivering standout ROI (Return on Investment) today.

1. Toronto & the Greater Toronto Area (GTA): Still the Gold Standard

Toronto continues to lead Ontario’s investment scene. With a robust job market, steady immigration, and high rental demand—from students to professionals—the GTA remains the cornerstone. Average semi-detached home prices hover near C$950,000, buoyed by consistent demand.

2. Barrie: Affordable Growth on the Rise

Just north of the GTA, Barrie offers properties at a lower price point but with growing buyer and renter interest. In 2024, home prices jumped roughly 12%, making it a magnet for investors seeking appreciation and rental yield.

3. Kitchener-Waterloo: Tech-Driven Momentum

Canada’s budding "Silicon Valley," Kitchener-Waterloo, remains hot thanks to its tech sector boom and universities. Strong employment and rental demand make this a high-performing real estate pick.

4. Hamilton: The Unexpected Power Player

Hamilton is no longer just “affordable Toronto.” With revitalization projects and steady demand from commuters, appreciation rates near 10% signal smart upward momentum.

5. Guelph: Stability + Student Demand

Guelph balances affordability, low unemployment, and institutional rental demand—especially from its university. It’s a smart pick for low-risk, steady returns.

Final Summary

For investors in 2025 seeking ROI, targeting cities with affordability plus demand is key. Greater Toronto continues to anchor value, while Barrie, Hamilton, Kitchener-Waterloo, and Guelph offer scalable, high-upside alternatives.

Frequently Asked Questions

Where do most millionaires live in Toronto?
Elite neighborhoods include Bridle Path (the famed "Millionaires' Row"), Forest Hill, Rosedale, Lawrence Park, and Casa Loma.

Is Toronto a good place to invest in property?
Absolutely. As Ontario’s economic hub, Toronto offers high demand, strong job growth, and consistent population inflows—making it one of the most stable and active real estate markets in the province.

Where is the best place in Ontario to invest in real estate?
Top-performing Ontario markets in 2025 include:

• Toronto/GTA – anchored by demand.

• Barrie – strong appreciation.

• Kitchener-Waterloo – tech-driven growth.

• Hamilton – affordable with upward momentum.

• Guelph – stable student rental demand.
  

What is the best neighborhood to live in Toronto?
For family comfort, schools, and prestige, neighborhoods like Rosedale, Forest Hill, Lawrence Park, and Leaside rank among the city’s best living experiences.

What income is considered rich in Toronto?
Top 10% individual earners in Toronto make around C$130,100, and median individual income is about C$40,300. To qualify for an average Toronto home, households often need upward of C$195,000–$200,000 annually.