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If you haven’t tried to rent an apartment recently in the city of Toronto, the annual figures released by the Toronto Real Estate Board (TREB) may come as a shock. By the end of 2018, the average price for a bachelor condominium apartment rose to $1,821/month, a 1-bedroom to $2,143/month, and a 2-bedroom to $2,774/month. Ouch.
These statistics only refer to condo rentals, which we clarified with Mike Macri at TREB. “There are too many variables with freehold listings. There’s simply no way for a computer to accurately analyze whether an entire home is for rent, or just an apartment within the home, or whether it’s shared accommodation by room,” he explained.
According to the Canada Mortgate and Housing Corporation (CMHC), the average vacancy rate for Toronto has decreased to 1.1% (meaning for every 100 existing rental units, only 1.1 are available to rent). In our recent experience, even basement apartments, once considered undesirable, are easily renting in the $1,500 – $1,900 range, depending on size and location. This market is challenging for both landlords and tenants to navigate, and we are here to help!
Are you looking for a real estate project? This 2.5-storey semi-detached home near the Junction is full of character and brimming with possibilities! It has large rooms and high ceilings, with 3+1 bedrooms, 3 bathrooms, finished basement, sunroom, and fenced yard. (more…)
Located on the top floor of a triplex near Bathurst and the 401, this 2-bedroom, 1-bathroom suite is spacious and bright. Featuring hardwood floors, double closets in both bedrooms, updated kitchen, and a parking spot! (more…)
If you’re looking for a way to get into the housing market, this family-friendly west-end home could be the one! With 4 bedrooms, 2 bathrooms, a finished basement, driveway parking for up to 4 cars, and a private back yard, it has a lot to offer. (more…)