Real Estate

Basement Rentals in Markham

  • Last Updated:
  • Mar 21st, 2017 3:41 pm
[OP]
Jr. Member
Mar 18, 2015
112 posts
18 upvotes
Mississauga, ON

Basement Rentals in Markham

How do I find out what is a fair value for basement rental in Markham.

I've been hearing that rent is crazy expensive and there's low availability. Is that just in Toronto or does that extend out to Markham?
I have a basement that I want to rent out, but it's been sitting empty for a while now.
Either the agent we're using to rent it out sucks or that she's set our expectation and price a bit high.
So the place is in Markham South Unionville. Kennedy between 407 and Hwy 7
1Br. Kitchen with full stove and fridge, 3pc Bathroom
Agent says to price it at $850.
We've averaged 1 showing per month.

I've lived in basements before and I must say, this is one of the nicer basement apartments I've been in. But nothing really stands out. It's not immaculate, but it's not dingy like some I've stayed in.
It's my house so I try to keep it in good shape.
8 replies
Deal Addict
User avatar
Sep 4, 2005
2452 posts
343 upvotes
Toronto
Fair value is really based on what people are paying. If there is low supply and high demand, guess what prices are going to be like. Take a look yourself online to see what places are going for if you don't trust your realtor.
Deal Addict
Jul 29, 2006
3271 posts
321 upvotes
I would say yours is actually priced lower if you compare vs this listing

Yours is closer to the GO station and depending if your basement is nicer as well.

The problem with your listing is that you have no pictures at all except for the exterior of your main house. Another factor is that it's still a little early for people to considering moving as late spring/summer is when most of the activity is.

What are you paying this agent for anyways if she can't show any pictures?
Penalty Box
Feb 2, 2014
3096 posts
468 upvotes
Toronto
restie wrote:
Mar 20th, 2017 2:28 pm
How do I find out what is a fair value for basement rental in Markham.

I've been hearing that rent is crazy expensive and there's low availability. Is that just in Toronto or does that extend out to Markham?
I have a basement that I want to rent out, but it's been sitting empty for a while now.
Either the agent we're using to rent it out sucks or that she's set our expectation and price a bit high.
So the place is in Markham South Unionville. Kennedy between 407 and Hwy 7
1Br. Kitchen with full stove and fridge, 3pc Bathroom
Agent says to price it at $850.
We've averaged 1 showing per month.

I've lived in basements before and I must say, this is one of the nicer basement apartments I've been in. But nothing really stands out. It's not immaculate, but it's not dingy like some I've stayed in.
It's my house so I try to keep it in good shape.
Something is wrong. Only 1 showing per month?

$850 for an average 1-bedroom basement apartment sounds about right. Care to share the MLS listing?
Kevin Somnauth, CFA
Mortgage Agent and Real Estate Sales Representative
Deal Fanatic
User avatar
Mar 31, 2008
8531 posts
789 upvotes
Toronto
Parking? And try to list in the local chinese paper.
Deal Addict
Jul 29, 2006
3271 posts
321 upvotes
I think it did indicate 1 parking spot available outside. I forgot what the website was but it was like a kijiji version for chinese community.
Deal Addict
Jul 29, 2006
3271 posts
321 upvotes
mingyang wrote:
Mar 21st, 2017 3:20 pm
try 51.ca and yorkbbs
That's the one! Expect to get lowballed though.
[OP]
Jr. Member
Mar 18, 2015
112 posts
18 upvotes
Mississauga, ON
I've listed on Kijiji and I've gotten plenty of replies. I don't think my agent was very aggressive in putting it out there.
nx6288 wrote:
Mar 21st, 2017 3:24 pm
That's the one! Expect to get lowballed though.
I can't read Chinese so I'm going to let my wife do the listing. Should I put the price higher here so there's have room to lowball?
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