Welcome to our September 2019 Home of the Month!
This feature provides a snapshot of what our Buyers have recently purchased or leased in the City of Toronto. This month’s post highlights one of Toronto’s strongest real-estate related markets – rentals!!
Connecting with Urbaneer team member James Ormston, this particular rental client came to us after having come to the realization that his current and long-established home-sharing arrangement in a character Cabbagetown abode sadly was no longer satisfactory, and he’d simply come to understand now was the time to find a new place to call home. He engaged the Urbaneer team to guide him to secure a rental condominium, with an eye to eventually considering a purchase in the future. Due to the challenges renters in Toronto are currently facing in what can accurately be described as a housing shortage, our client was especially focused in his search, and had a well-attuned sense of what was going to fit his needs.
He sought something that was extremely well-situated and, more importantly, accessible to his work downtown. With the client having excellent references, and very solid prior employment history – in addition to a letter from his new employer confirming his position, length of tenure and salary – all things were pointing to a positive outcome! It would be evident to any landlord that this was a Grade A tenant!
High on his list of ‘must-haves’ were affordability, proximity to transit, ensuite laundry facilities, a sufficient amount of space and light, and, if possible, a second work area or den where he could practice his cello. When this listing appeared at Alter Condominiums on McGill St in Church St Village, we realized it ticked all of the requisite boxes and then some! Here’s the description from the MLS listing:
“Prestigious New Tridel Alter Building. Bright Open View, High Floor One Bedroom + Den With Upgraded 9 Ft Ceiling, Designers Kitchen, Laminate Floor, Quartz Kit Counter, Steps To College Subway Station, 24 Hrs Street Car, Ryerson U & U Of T, Loblaws, Maple Leaf Gardens, Major Hospitals, Shopping, Eaton Centre & Restaurants. 24 Hrs Concierge. Great Amenities: Rooftop Garden, Bbq, Media Lounge, Theatre, Yoga Studio, Wet Lounge, Whirlpool, Outdoor Pool”
Here’s some snaps from the MLS listing of this sweet spot:
And with tons of space, a smart and stylish layout, the generous deck area, and wonderful and very private northerly views of the cityscape from the amazing wall of windows which run the full width of the unit – and water and central air conditioning included – this smart space provided excellent value! And we adore! Congratulations to our intrepid client!
Renters in the central core are having to face ever-greater challenges in what many describe as a true housing shortage, including spending an inordinate percentage of their income on housing. As we navigate the real-estate trenches on a day-to-day basis while assisting and guiding our clients, we’re seeing rents continue to rise across the city, including in the new purpose-built rental buildings which are just now beginning to come on stream. Here are two recent articles which look at these concerns in depth–>
In Some Battleground Ridings, Renters Spend 50% Or More Of Income On Housing
Rents Are Climbing — Even For Purpose-Built Rentals
https://business.financialpost.com/real-estate/rents-are-climbing-even-for-purpose-built-rentals
Are you exploring the possibility of renting Toronto real estate? Here’s some of my essential must-read blogs:
The Other Side Of Rent Control And Toronto Real Estate
Airbnb And The Economy Of Shared Housing
Rent Controls For Ontario Landlords And Tenants
Thanks, James!
Serving first, second and multi-time Buyers, young families, down-scaling Zoomers, renovators and those building their investment property portfolios, our mandate is to help our clients strategically secure the best real estate on offer, while ensuring their purchase best serves their practical needs and their dream of ‘Home’. We identify a property’s best qualities, features and insouciant charm in the context of the future target market while meeting your own wishes, wants and desires.
If you, or someone you love, has specific real estate needs, wishes and desires, and would enjoy the personalized service of someone Celebrating Twenty-Five Years As A Top-Producing Toronto Realtor who subscribes to a pressure-free approach – and a specialty in unique and charming urban homes – please know my team and I are here to help!
The Innovative Urbaneer Team
Bosley Real Estate Ltd., Brokerage – (416) 322-8000
– we’re here to earn your trust, then your business –
Keen on Toronto real estate? Here’s Urbaneer’s Toronto Real Estate Forecast, Part One!
*Like what you’ve read? Did you know we were recently listed as one of The Top 25 Toronto Real Estate Agents To Follow On Twitter, The Top 50 Blogs On Toronto and the Top 100 Real Estate Blogs In Canada!!? Consider signing up in the box below to receive our FREE monthly e-newsletter on housing, culture and design including our love for unique urban homes and other Toronto real estate!
*Love Canadian Housing? Check out Steve’s Student Mentorship site called Houseporn.ca which focuses on architecture, landscape, design, product and real estate in Canada!