Real Estate

How renting in Toronto has become a total nightmare

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  • Oct 15th, 2017 2:10 pm
Deal Addict
Dec 6, 2006
3708 posts
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Toronto
at1212b wrote:
Oct 11th, 2017 9:49 am
Seriously! There's plenty of examples of that "I love this city... it's got my job, i can walk to work, walk everywhere, uber home in no problem, all the great bars and shops are close by... I can't imagine living anywhere else. Why would you? But what the heck is up with this expensive rent?! I can't even move anywhere now because it's gotten way beyond what it should be (what I'm paying). Get out people.. shoo shoo.. don't you know this is only meant for me? me me!
You forgot Starbucks.... a must have, like at least one in each direction .
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Apr 21, 2004
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Is it illegal to sublet without the landlord's approval?

If so, why are there like 5-6 students (if not more) sharing a 1 + 1 condo unit? Seven years ago I heard even the kitchen is partitioned to make for a separate room.

Edit:
Sounds like consent from the landlord is required.

http://www.ontariotenants.ca/law/act06.phtml
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Nov 15, 2004
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Toronto
alanbrenton wrote:
Oct 12th, 2017 2:49 pm
Is it illegal to sublet without the landlord's approval?

If so, why are there like 5-6 students (if not more) sharing a 1 + 1 condo unit? Seven years ago I heard even the kitchen is partitioned to make for a separate room.

Edit:
Sounds like consent from the landlord is required.

http://www.ontariotenants.ca/law/act06.phtml
You're assuming the landlord doesn't know. As long as he's getting paid he probably doesn't care. This way he can keep his rent far above what an individual will actually pay, and kick people out at will.
Could HAVE, not could OF. What does 'could of' even mean?
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Jan 6, 2011
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alanbrenton wrote:
Oct 12th, 2017 2:49 pm
Is it illegal to sublet without the landlord's approval?

If so, why are there like 5-6 students (if not more) sharing a 1 + 1 condo unit? Seven years ago I heard even the kitchen is partitioned to make for a separate room.

Edit:
Sounds like consent from the landlord is required.

http://www.ontariotenants.ca/law/act06.phtml
Sublet yes, rommies no.
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Apr 21, 2004
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Piro21 wrote:
Oct 12th, 2017 5:20 pm
You're assuming the landlord doesn't know. As long as he's getting paid he probably doesn't care. This way he can keep his rent far above what an individual will actually pay, and kick people out at will.
Increased wear and tear and consent probably means an increase in rental rates.
LongLiveRFD wrote:
Oct 12th, 2017 5:25 pm
Sublet yes, rommies no.
Interesting. Must be good buddies to share with roomies who might not chip in for the monthly share as agreed upon.
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alanbrenton wrote:
Oct 12th, 2017 5:49 pm
Increased wear and tear and consent probably means an increase in rental rates.
Exactly, to heat/cool/wash/flush too. Lots of energy to keep human head cool and body warm. Ask any HVAC guy.
alanbrenton wrote:
Oct 12th, 2017 5:49 pm
Interesting. Must be good buddies to share with roomies who might not chip in for the monthly share as agreed upon.
It works off mutual tacit. So landlord would advise listed tenants to ask for damage deposits to remain off lease and tenants responsible for rent collection. If tenants is any good and willing to compensate your additional risks, landlords usually comply because the alignment of interests.

That said, many people abuse landlord through roommates too, and landlords would just hold tenants responsible.
Newbie
Oct 8, 2017
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alanbrenton wrote:
Oct 12th, 2017 5:49 pm
Increased wear and tear and consent probably means an increase in rental rates.



Interesting. Must be good buddies to share with roomies who might not chip in for the monthly share as agreed upon.
You too?

Renting in Toronto is not a nightmare at all.

Who do so many Usernames all say it is?

There are so many condo for rent it's a nice media story but the reality is I have looked around and there are many rentals around and prices are very competitive, especially if you don't want to rent in the few 'hot' areas around TO.

Has anyone here actually looked to rent in Toronto in the last few months or just posting based on something they read in media?
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Apr 21, 2004
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HanSin wrote:
Oct 12th, 2017 9:54 pm
You too?

Renting in Toronto is not a nightmare at all.

Who do so many Usernames all say it is?

There are so many condo for rent it's a nice media story but the reality is I have looked around and there are many rentals around and prices are very competitive, especially if you don't want to rent in the few 'hot' areas around TO.

Has anyone here actually looked to rent in Toronto in the last few months or just posting based on something they read in media?
Where and when did I say that? Are you high?
Newbie
Oct 8, 2017
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The "You too" was not part of the reply to the Renting in Toronto post. I'm just connecting the dots.

Renting in Toronto is actually easier than 5 years ago.

So many condos are around.

It's easy to find a rental in Toronto.

Very, very easy.

Just no one even said that in this thread. They all just replied to some media post.
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Jan 16, 2009
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Toronto
HanSin wrote:
Oct 12th, 2017 9:58 pm
The "You too" was not part of the reply to the Renting in Toronto post. I'm just connecting the dots.

Renting in Toronto is actually easier than 5 years ago.

So many condos are around.

It's easy to find a rental in Toronto.

Very, very easy.

Just no one even said that in this thread. They all just replied to some media post.
The income has not risen so the rent stays the same.

Now with rate hike and ofsi rule, the carrying cost of these real estate will be more expensive which ultimately drives down the price of the asset.

With so much supply in the market, I am seeing more retnal listing compared to three years ago. Based on the current rent to price ratio, the price need to drop at least 50% for me to consider buying as rent is just too cheap to pass up.
Newbie
Oct 8, 2017
10 posts
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I've never heard anyone renting ever write like this. So thank you for your originality. But a lot of spelling mistakes.

The reality is every post in this thread just followed one media story. It's a FAKE media story in my opinion as there are lots of places to choose from.

Actually, anyone truly looking for a rental property will say this whole post is fake because there are really a lot of good rental around.
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Jan 16, 2009
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Toronto
HanSin wrote:
Oct 12th, 2017 10:19 pm
I've never heard anyone renting ever write like this. So thank you for your originality. But a lot of spelling mistakes.

The reality is every post in this thread just followed one media story. It's a FAKE media story in my opinion as there are lots of places to choose from.

Actually, anyone truly looking for a rental property will say this whole post is fake because there are really a lot of good rental around.
I am on my phone so didn't check the spelling.

When you can rent a million dollar house for 2500, why not invest one million in GIC to get similar return without the risk.

That's why the market is irrational.
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Feb 22, 2011
1676 posts
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Toronto
Things are getting even worse, as many predicted.

"Monthly rents reached an average of $2,219 (average size of 743 sf), rising by $232 over the past 12 months."
"The ratio of leases-to-listings remained at an all-time high of 88%, while the 1,048 active listings on the market at the end of September equaled less than two weeks of supply."
"The scarcity of available one bedroom rentals led to a sharp increase in the share of units leasing for over asking rent by at least $25, from 28% a year ago to 42% in Q3-2017"
"The volume of one bedroom without den rentals, typically in the 500-599 sf range, dropped by 11%, while studio rentals fell by 3%. Meanwhile, benchmark rents for these unit types increased by nearly $200 from last year to $1,839 and $1,672, respectively."
"The total proposed inventory of purpose-built rental projects in the GTA reached 30,980 units in Q3-2017, little changed from the previous quarter."

https://www.urbanation.ca/news/193-rent ... ate-supply

Could become an even bigger problem;

"Jonathan Gitlin, senior vice-president of investments and residential at RioCan.

The legislation caused us to review our rental projects across the GTA," Mr. Gitlin said by e-mail. "The impact of the legislation will be to mute growth through limiting rental growth and enhance risk that will accompany inflation as a landlord will need to absorb increased expenses."

https://www.urbanation.ca/news/192-1000 ... -expansion
Deal Fanatic
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Mar 31, 2008
9419 posts
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Toronto
HanSin wrote:
Oct 12th, 2017 10:19 pm
I've never heard anyone renting ever write like this. So thank you for your originality. But a lot of spelling mistakes.

The reality is every post in this thread just followed one media story. It's a FAKE media story in my opinion as there are lots of places to choose from.

Actually, anyone truly looking for a rental property will say this whole post is fake because there are really a lot of good rental around.
You obviously were not around when rents were much cheaper not that long ago. I don't need a media story to tell me that bruh. Guess what, income hasn't gone up pretty much at all. So sure, there are units that are extremely expensive, but it has gone up higher than inflation. Now the criticism people like myself have is you are right, there are still many places where rent is cheaper and more available, but this generation of renters (millennials, and newly minted PR higher educated folks all) want to live the great lifestyle south of St. Clair/Bloor, West of Victoria Park, East of High Park in a nicely, new unit that they have all to themselves. So of course many in that corridor will have a much harder time, given how rents have gone up, and the increased landlord scrutiny is real.
Member
Jun 15, 2017
263 posts
118 upvotes
There are many units available in Harbour plaza in downtown
Almost 80 units available

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