If I sublet a room in Ontario, is it llegal if I charge more than what I pay?

It's not illegal, however it may be against your contract to sublease without the apartment owners consent (shouldn't affect your ability to get more for the apartment though). Go back and read your lease agreements. Often times there may be a "owner must consent to sublease" clause. This is because only you are liable on the sublease and the owner of the apartment will want to be able to go after the subleasee as well as you if the subleasee doesn't pay. They can do this by creating what is called a third party beneficiary contract. Basically the agreement between you and the person subletting is that you will allow him to live there, and he will provide a benefit to the apartment owner by paying the rent (could also have him pay you some as well). This way the apartment has both of you on the hook for the cost of rent (which is actually good for you, because otherwise it's just you that's on the hook for the rent). So check your agreement and see if you can sublease without consent first. Then there would be nothing illegal about you getting more money for the apartment than you are paying (even if you didn't leave the furniture). Think about businesses all over the place that do stuff exactly like this. There are municipal buildings that company's rent out from the city on a long term contract, then sublease to smaller business people on shorter term leases to make a profit. Your just getting a benefit from your exceptionally good bargain, and nothing is illegal about that.

Under the Residential Tenancies Act, 2006, a landlord cannot arbitrarily or unreasonably withhold consent to a subletting arrangement. (Most likely, they're entitled to refuse to let you sublet, but they'd need a good reason. Basically, they're still entitled to vet the people who will be living in their rental unit.)

Beyond that, the details of the sublease are between you and the subtenant. If you want to charge a higher rate, there's no reason why you couldn't. (I do tend to think that the landlord would be entitled to ask about the contractual terms, and I couldn't begin to guess whether or not you renting it out at a profit would be a legitimate reason to refuse.)

Also bear in mind that you're directly responsible to the landlord for your own rent, and you continue to be responsible to the landlord for any damages to the property. If the subtenant wrecks the place, you have to pay for the damages and then hope to be able to recover from the subtenant.

On a practical note...is this student housing? I'm not specifically familiar with the Toronto market, and it might be different because the student population in Toronto is relatively low compared to the general population, but I can tell you that summer subleases in other student towns I'm familiar with (Kingston, Waterloo, London) lose about half the value of the unit. You can be paying $500 a month for a room in Waterloo year round, but trying to sublet it May to August you'd be lucky to get $250 a month. And Waterloo is a school with a relatively high number of students in the summer.

First of all read the lease agreement which you are going to sign up with your landlord.Is there any provision for subletting? Do you required at least 30 or 60 days notice in advance if you are moving.Everything you will have to see the each provision of the lease.Landlords are more experts than us and there lawyers preparing the lease documents.Is landlords have mentioned about your room mate? If not than your room mate has nothing to do with the premises ( apartment or a room).Seniority will not be counted.Landlord looks for the rent which you have fully paid on the due date or No?

IF you lease allows a sublet, you can charge whatever you want. It's a market economy.

Your lease must specifically provide for a sublease or the landlady can kick you out.

How To Sublet A Room

It is not illegal, though you may have to claim the difference as income.

It is legal. Go for it.