Toronto Condo Rentals
Toronto condo rentals is a great alternative to renting in a rental apartment building for many reasons we will discuss below.
Condo owners usually advertise their apartments through newspaper ads and special websites, or through real estate agents, with whom they sign a contract.
Pros of renting a condo in Toronto:
- Since you are dealing directly with the owner, it's usually easier to negotiate the price and terms. You could negotiate better terms, such as the possibility to terminate the lease at short notice, or to include utilities in the payment.
- Most importantly, this type of housing in Toronto is of higher quality. Another positive factor is a great location of the building. Certainly, it's more expensive than rental apartments, but you would be paying for a more comfortable environment.
- You will have access to many amenities included in the condominium : gym, recreation rooms, swimming pool, playgrounds.
- Condominiums are usually located close to transportation, near business and cultural centers, if being in the centre of cultural life is important for you.
Cons of Toronto condo rentals:
- The price of such housing is usually higher than renting an apartment in a rental building. (It's worth mentioning that the owner of the condo won't get much profit from renting it to you - at best, you will be simply "buying" his condo for him)
Are you overpaying
for home insurance?
However, renting a condo is very popular in Toronto, and many people buy condos just with the purpose of renting them to those who are not ready to buy yet.
If you decide to rent a condo in the private sector instead of a rental apartment building, you can start from looking for Toronto condo rentals online.
However, if you are new in Toronto, you might not always find the best option available in the best location. It is best if someone helps you - a friend familiar with Toronto and its neighbourhoods, or a real estate agent.
Realtor's services for those who rent (as well as those who buy) accommodation are free of charge. The agent will be ale you find you a high quality accommodation at the best price in the area that fits you best.
Keep in mind that realtors are well aware of the specifics of the city, and they will protect you from danger of living in a bad neighborhood.
If you look for Toronto condo rentals with the help of a realtor, you do not have to worry about many things, such as a contract with the owner of the apartment, passing an interview with the superintendent of the building, what's included and what's not in the payment for the rented living space, etc. - the agent will take care of everything for you, and, again, for free.
The agent will also give you advice on what is better in your case - to rent an apartment or to buy a house or an apartment right away, depending on your situation. Sometimes it is much more profitable to buy houses than to rent.
However, not every real estate agent will help newcomers with Toronto condo bbbrentals, because it's troublesome and time consuming, and the fee is very small. Many realtors refuse to deal with such issues, and you need to find someone who will undertake the task in advance.
On Toronto Condo Rentals I used materials written by Helen Riabinin, Sales Representative, Century 21 St.Andrew's Realty Inc. for Russian Toronto.