Ten projects that show Toronto condo development is still going strong

One Bloor West - photo credit Mizrahi

When plans for an 80-storey Toronto condo development at the southwest corner of Bloor and Yonge were unveiled earlier this year, Torontonians reacted with a predictable range of emotions, including deep worry and angst. Online commenters fretted not only about the physical appearance of the proposal – dramatically named ‘The One’ – but also the congestion it might bring to the neighbourhood, the shadow it would cast, the effect it might have on the bird population, and, of course, the shadowy, ubiquitous threat of “Manhattanization.”

While some reservations are understandable when confronted with a proposal of this stature, Globe and Mail columnist Marcus Gee wrote on March 18 that “Toronto has finally found the confidence to act like a big city,” perhaps suggesting that The One ought to be celebrated, if only for its ambition.

In that spirit, let’s have a look at nine more confident projects:

One Bloor East - Great Gulf Homes

One Bloor East

Directly across Yonge Street from the possible future location of The One sits One Bloor East, a 257-metre, 76-storey mixed use space which is nearing completion. Urban Toronto recently shared some images from the unfinished penthouse suites of the building, and the views are spectacular.

Mirvish+Gehry

 

Mirvish+Gehry

Before ‘The One,’ the Mirvish+Gehry was arguably the most controversial proposal in Toronto. The massive, two-building Toronto condo development (the taller of the two towers will reach over 300 metres) is likely to be located in the heart of downtown, at 260 King St West. The preservation of the Princess of Wales theatre is an important aspect of the proposal, as earlier plans included its demolition.

1 7 yonge photo via urban toronto

1-7 Yonge Street

At the foot of Yonge St, in a space currently dominated by the Toronto Star building and several parking lots, Pinnacle International is hoping to erect an impressive selection of six new buildings. The proposal would redefine two underused city blocks, and the tallest new building would be the third on this list to reach 300 metres.

10 york tridelTen York Street

Ten York is particularly interesting for its shape: the 67-storey, wedge-shaped building is located immediately south of the notorious Gardiner Expressway, and directly north of the Yonge-Bay-York off-ramp. While living between two separate portions of the Gardiner may not appeal to all, the building is indicative of the densification Toronto’s southern downtown core is experiencing.

themasseytower dot comMassey Tower

Expected to be completed next year, the 207-metre Massey Tower incorporates two historic bank buildings in its design. The Bank of Commerce on Yonge St just north of Queen will be restored and will serve as the new condo’s lobby.

385 yonge

385 Yonge St

The development proposed for 385 Yonge St may be the most shocking design proposal on this list. It includes two towers at 62 and 73 storeys, respectively, which will be joined by a large platform roughly two-thirds of the way up the shorter of the two. Situated just north of Yonge and Dundas Square, this Toronto condo development could be a true architectural landmark.

soleilEau du Soleil

Eau du Soleil is the furthest Toronto condo development from downtown on this list, located on Lake Shore Blvd West, on the Humber Bay Shores. The striking, two-tower design of the building will stand out among smaller, more conservative developments in the area.

88 Scott Concert properties

88 Scott Street

Currently under construction, 88 Scott St will top out at approximately 200 metres, and will feature a range of amenities to go along with an outstanding central location. The podium levels will include retail, restaurants, and commercial office spaces below 525 residential units.

33 Gerrard - Great Eagle Holdings33 Gerrard West

The 33 Gerrard West Redevelopment is the newest proposal on this list. Currently occupied by the Eaton Chelsea Hotel, the location could soon feature four new towers at heights of 80, 74, 50, and 46 storeys. For the moment, details on the proposal are scant, but early renderings suggest an international style-influenced design which would stand out beside glassy neighbours Aura and 385 Yonge.

Each imaginative Toronto condo development on this list will contribute to the growth and maturation of Ontario’s capital. Visit Renting Toronto today for listings of available condos for rent in Toronto. We’ve been in the business of connecting qualified tenants and reliable landlords since 1999.

Toronto condo rentals, weather, and transportation: everything you need to know about moving to the city

Moving to Toronto - Aug 18 - cred Lord of the Wings _ FlickrThe City of Toronto is booming. Canada’s financial and cultural capital recently became the fourth largest city in North America, and in February the Toronto census metropolitan area broke the 6-million person mark. Throw into the mix a thriving music and arts scene, an up and coming food culture, a successful 2015 PanAm Games, and the fact that Toronto is one of the world’s most multi-cultural cities, and it’s safe to say that now is a prime time to consider a Toronto condo rental.

Whether you’re making the move for career purposes or are simply anxious to experience the excitement of a growing city, here are some helpful tips to make your search for a Toronto condo rental and your move to Toronto in general a positive experience.

Sun, snow, or rain, there’s always something to do

There’s no use denying it: Toronto winters are cold, though not as cold as in cities like Montreal, Ottawa, or Calgary. And while chattering teeth will come as no surprise to a Toronto newcomer, the summer heat might. Temperatures often rise above 30 degrees, giving residents a chance to enjoy the city’s many public beaches, pools, and parks. It doesn’t cool off much at night, so consider a unit with AC for your comfort.

Regardless of the weather, there are always fun and exciting ways to fill your days in Toronto. To name only a few, the city is home to the Toronto International Film Festival (TIFF), a world renowned Pride Week, Caribana, Nuit Blanche, and the NXNE music festival.

Getting around

The Toronto Transit Commission – or TTC, colloquially – includes a system of streetcars, subways, and busses that can deliver you to nearly everywhere you’ll need to go. The majority of downtown Toronto condo rentals provide easy access to the TTC, making your commute to and from work a breeze. AutoShare, Zipcar, and Bike Share are all convenient and affordable ways to get around town as well.

Many downtown residents also choose walking or cycling as their transportation methods of choice. http://rentingtoronto.com/toronto-condo-rentals-weather-and-transportation-everything-you-need-to-know-about-moving-to-the-city/ http://rentingtoronto.com/toronto-condo-rentals-weather-and-transportation-everything-you-need-to-know-about-moving-to-the-city/ http://rentingtoronto.com/toronto-condo-rentals-weather-and-transportation-everything-you-need-to-know-about-moving-to-the-city/ http://rentingtoronto.com/toronto-condo-rentals-weather-and-transportation-everything-you-need-to-know-about-moving-to-the-city/Downtown Toronto is becoming increasingly bike-friendly, and some brave commuters will cycle year-round. The city’s simple grid pattern makes finding your way around easy, and you can nearly always use the CN Tower as a compass pointing south.

The city is expensive, but…

Like all world-class cities, Toronto is expensive to live in. As is the case in much of Canada, housing prices have soared over recent years, and the average price of a detached home is upwards of $1-million. However, Toronto condo rentals are a viable alternative to home ownership, one that young professionals and millennials are increasingly open to. Opting to rent over buying gives you more freedom to choose which neighbourhood you live in, will free up money to go out and enjoy the city’s amenities, and will give you the flexibility to move as you see fit.

At Renting Toronto, we’ve been in the business of placing qualified tenants in owners’ and landlords’ properties since 1999. There’s never been a better time to live in the city, so check out our extensive Toronto condo rental listings and feel free to contact us today.

Why a Toronto condo rental may be a better choice than home ownership for millennials

In a recent study released by the Federal Reserve Bank of St. Louis, The Demographics of Wealth, the U.S. Federal Reserve suggested that young Americans may be better off delaying their first home purchase. The report, which is based on data collected from 40,000 households interviewed between 1989 and 2013, says that “buying a home too early is putting young families on a trajectory to be poorer than all previous generations.”

In an August 7 article by the Financial Post’s Jason Heath, the author argues that the reserve’s position applies equally to young Canadians. “Homes cost more in Canada (averaging $453,560 nationally vs approximately $311,619 in the U.S.), and household debt is higher here as well,” Heath writes. http://rentingtoronto.com/why-a-toronto-condo-rental-may-be-a-better-choice-than-home-ownership-for-millennials/ http://rentingtoronto.com/why-a-toronto-condo-rental-may-be-a-better-choice-than-home-ownership-for-millennials/“Canadian millennials should pay close attention to the advice being doled out by the U.S. central bank.”

These figures reinforce the financial soundness of young peoples’ decision to maintain an apartment or condo rental long past the age when their parents moved into the buyers’ market. With millennials making less money than previous generations, putting together a down payment is no easy task, and high mortgages make it difficult to save for retirement. ip info . A reasonable apartment or condo rental, coupled with a dedicated savings plan and wise investing, may make more fiscal sense than pursuing the traditional path to home ownership.

As the Federal Reserve report puts it, millennials ought to “delay purchase of a home with its attendant debt burden until it (is) possible to buy a house that (does) not make the family’s balance sheet dangerously undiversified and highly leveraged.”

Per a September 2014 Conference Board of Canada report, the current income gap between younger and older workers has expanded to a point where young working Canadians are poised to be the first generation worse off than their parents. The average disposable income of 50- to 54-year-olds is now 64 per cent higher than Canadians aged 25 to 29. Meanwhile, the average price of a detached home in Toronto reached $1.052 million in June 2015, making home ownership an economically unsound proposition for many young Torontonians.

To be sure, home ownership has become a societal norm in Canada, and many young Canadians are drawn to the idea. For those able to safely make the investment, home ownership can be an excellent forced savings plan. But for a generation struggling to find a financial footing, premature home ownership poses substantial risks.

In Toronto, a condo rental offers a wider range of locations to choose from (most millennials won’t be buying a house in West Queen West any time soon, but relatively affordable rentals are plentiful), and allows the tenant to avoid costly expenses like renovations and home insurance on top of a mortgage. An apartment or condo rental also means less obligation and more freedom to relocate should your career, family, relationship, or itch to travel necessitate a hiatus from Toronto.

Renting Toronto has been in the business of placing competent, qualified tenants in owners’ and landlords’ properties since 1999. Whether you’re looking for a condo rental in a great Toronto location, or have a property you would like to rent out, our full-time, dedicated agents will find the best fit for you.

How to have a smooth moving day

It can be a long process to find a place you want to move into, undergo reference checks and credit checks and sign a lease. If you’ve done all these steps, then everything is ready for you to move in. All you need to do is move your life into the new space, which can be a challenge in itself.

Moving can be a hectic process, but there are some things you can do to ensure everything runs smoothly and that you have a good moving day.

For starters, decide on a date on when you want to move. If you’re moving from rental property to another, make sure you give your previous landlord sufficient notice. Some renters can afford to pay rent at both places for one month, which makes the move less hectic, but also more costly. Whatever you decide, both your previous landlord and your new landlord need to know when you will be moving out or in.

If you are moving from one condo to another, don’t forget to book the elevator in each building. You will need to provide each building with a security deposit, which is usually a bank draft for $500. This is to ensure that the movers do not damage the elevator or hallways of the building while moving out your property. Once your move is done you get your deposit back.

Keep in mind that some buildings don’t allow moving in or out on Sundays. This can be difficult, especially if the month’s end is on a Sunday and you need to move out earlier. Once you have a date booked, if you are hiring a moving truck or a moving company, book them as soon as possible.

A few weeks before you start moving, it’s important for you start arranging your belongings and prepping boxes ahead of time. Separate your items between what you plan to keep and what you can get rid of, whether you donate it or toss it. Also, label your boxes to make it easier to find everything.

While looking at the items you plan to keep, determine what needs to be taken part before it’s moved and get that done earlier so you’re not trying to take a part your bookshelf on the big day.

Meanwhile, don’t forget to change the address for any bills, banking or credit card statements, magazine subscriptions or important documents. Even after you move, either set a forwarding address for the leftover mail to be sent out or notify your previous landlord that you may drop by on occasion to pick up any mail that continues to be sent to that address. You may also want/need to purchase tenants’ insurance and if you’re doing so, contact your insurance company ahead of time to notify them of the change in residence.

Also a day before the move, confirm with the moving company the time they’re expected to arrive and the location to avoid any confusion or delays. You should also have the keys or have an appointment set up with your new landlord to receive them on the day of your move.

On the day of the move, you should have a bag/box packed with all essential, which should be clearly labelled. http://rentingtoronto.com/how-to-have-a-smooth-moving-day/ http://rentingtoronto.com/how-to-have-a-smooth-moving-day/ http://rentingtoronto.com/how-to-have-a-smooth-moving-day/If you’re moving out from another rental property, make sure the fridge is clean and any other leftover food items are either packed or tossed. Once all the boxes are moved, inspect the space to ensure you have everything.

Once you arrive at the new location, unload all your belongings and settle into your new home!

Renting Toronto has been in the business of placing competent, qualified tenants in owners and landlord’s properties since 1999. Our company has full time dedicated agents renting properties on behalf of owners and owners have the final say on all prospective tenants. Our website receives thousands of hits monthly and as a Homeowner or Landlord you can display your rental property on our website at a very low cost compared to our competitors!

Should you get tenant insurance?

During your rental search, you may come across a landlord who requires you to show proof of tenant insurance or content insurance before they’re willing to rent you the condo.

If you’re new to renting a home, you may not be familiar with tenant insurance and how it protects you. A homeowner is required to pay for home insurance when they own a home, but this only covers the property you live in and not your personal items or whether you cause an accident. If the place you’re renting is broken into or there’s a fire that leaves your possessions damaged, tenant insurance will cover the cost of it.

When you rent a place, you become legally responsible for any damage you cause to the property and also if someone is hurt while they visit the property. For example, if someone is injured in the place you’re renting through a slip and fall, your tenant insurance can help protect you in a liability lawsuit if you are held responsible for a victim’s injuries.

Tenant insurance can protect your items in the event of fire or lightning damage, windstorm or hailstorm, frozen pipes that burst and theft, but it won’t help with business pursuits, professional services or bodily injury or property damage that is intended by the person who’s insured.

There are two types of tenant insurance you can purchase: all risk and named perils. If you purchase all risk tenant insurance, this will cover all your items, except for those you choose to exclude, during any event, while if you purchase named perils, this insures your items in the event of specific perils that you name.

There are also two ways that insurance companies can cover the cost of your items, actual cash value or replacement cost. The insurer will determine whether an item should be repaired or replaced.

With basic tenant insurance, if someone files a claim against you and succeeds, you will be covered for up to $1 million that you need to pay out, which also includes the cost of hiring a lawyer to defend you. Tenants can choose to increase this amount to $2 million and there’s an option to pay for additional living expense coverage, which if the place you’re renting needs to be repaired, it will cover the cost of moving, hotels or meals out during the time of the displacement, within a limit. This helps you handle any unexpected costs you’re faced with if you’re unable to live in your rental property.

Tenants can have peace of mind that insurance will help cover the cost of their items in the event of an unfortunate incident. Keep your home inventory up to date and don’t be afraid to shop around for a tenant’s insurance policy that suits your needs. http://rentingtoronto.com/should-you-get-tenant-insurance/ http://rentingtoronto.com/should-you-get-tenant-insurance/ http://rentingtoronto.com/should-you-get-tenant-insurance/Carefully read through your policy to understand what you’re entitled to since some items can lower the amount you may be paid. Understand which items have limitations or exclusions placed on them in your insurance policy.

Visit Renting Toronto for listings on available places for rent in Toronto. Before looking for a place to live, first have a good idea on what you want to look for. Our company has been in the business of placing competent, qualified tenants in owners and landlord’s properties since 1999 and owners have the final say on all prospective tenants.

What questions should tenants ask landlords?

If you’re about to move out from your parent’s home, it’s an exciting time. While it’s tempting to decide on the first place that looks good, there’s more you need to consider besides the initial showing.

During your showing, you’ll want to check that the space is safe for you to live in and whether it suits your needs and the people you plan to live with. There are also many details you should ask your landlord before coming to a decision.

Utilities – In your home, you use water, electricity and heat in your day-to-day activities. You should always ask the landlord what type of utility is used, such as gas or oil, along with the average monthly cost of the unit. If you’re renting a condo, sometimes utilities are covered in the condo fees the landlord pays, which means it could be covered in the cost of your rent. Also, if you’re sharing a space with other renters, you’ll want to know how these costs will be split. Some living arrangements also come with Internet and cable, which may or may not be included in your monthly rent.

Lease agreement – In Ontario, landlords and tenants aren’t required by law to have a written lease agreement, but this could protect you in the long run if you are ever involved in a dispute with your landlord. Ensure that your lease agreement covers all these terms about your stay and you might want a lawyer to look it over before signing.

Restrictions – Some landlords may be very particular about the space they’re renting out. For example, some landlords won’t allow you to paint the walls or hang paintings since you will need to put nails into their walls. Also, you may not be allowed to own pets or smoke and it’s important to establish the rules before signing a lease.

Current tenants – There’s no harm in learning more about the previous tenants. If it’s due to a dispute with the landlord or another building issue, this might make you think twice about living there.

Neighbourhood – You’re likely searching for a place that’s near to either your workplace or school, but you’ll also want to consider your lifestyle when choosing a place to live. If you enjoy eating out, are there a lot of restaurants in the area or if you don’t own a car, are you near transit. Also, the neighbourhood’s safety may also play into your decision.

Amenities – Some rental listings include fully furnished properties, while others provide no furniture at all. Depending on your living situation, this may affect what you bring. Also, if you’re looking at condos or apartments, you’ll want to know if there are any extra perks, such as a gym, a bbq area or a party room. If you own a car, you’ll want to know if the property comes with parking and if not, where you could park your car, along with where any guests can park.

Property maintenance – If you’re looking to rent a house, ask who will be responsible for chores such as mowing the lawn or shovelling the snow. Also, inquire about how minor or major repairs should be handled and where can you reach the landlord if you have any issues or questions.

While the answer to these questions may take you longer to find a place to rent, you’ll be glad you did when it saves you time, money and hassle in the long run.

Renting Toronto has been in the business of placing competent, qualified tenants in owners and landlord’s properties since 1999. Our company has full time dedicated agents renting properties on behalf of owners and owners have the final say on all prospective tenants. Our website receives thousands of hits monthly and as a Homeowner or Landlord you can display your rental property on our website at a very low cost compared to our competitors!

How to handle repairs when renting

When you’re renting a place, you’re the person who has to live through any issues or quirks in the space you’re living in. By law, landlords are required to fix and cover the cost of any emergency repairs that could jeopardize the renter’s health and safety.

It’s important for renters to understand what would be considered to be an emergency repair and how they should proceed.

When a renter discovers a problem, their first step is to contact the landlord, at least twice, whether it’s by phone or email. Renters should take note of when they attempted to get in touch and they should allow for a reasonable amount of time for the landlord to get back to them.

Meanwhile, if the landlord is unavailable and the tenant needs to have the repair done as soon as possible because the issue is causing damage to their personal belongings or is dangerous to their health, they can authorize a repair, but they must hold onto any paperwork.

A tenant can ask the contractors to bill the landlord directly, but if they require payment once the job is completed, a tenant must hold onto any receipts related to the job and ask the landlord to be reimbursed.

If a landlord gets in touch with the tenant while repairs are underway, they can choose to let the repairs continue and reimburse the tenant or pay the contractor for the amount of work they’ve done and find someone else to do the repairs.

Tenants should keep in mind that they should only pay for repairs that are considered be an emergency because if the repair isn’t, the landlord can refuse to reimburse tenants for the cost of the job.

Also, if you live in a condominium or townhouse and a unit surrounding you has a problem, such as a water leak that’s affecting your unit, contact your on-site property manager or concierge since the people may be away. The property manager can get into the unit immediately and shut off a water valve, which will hopefully prevent further damage to that unit, as well as your own. Once you’ve done this, contact your landlord immediately so that he can contact his insurance company, if needed.

A few examples of emergency repairs include:

  • A broken heater when it’s cold outside.
  • The refrigerator stops working.
  • A short circuit in the wiring which could lead to a fire.
  • Backed up sewage system causing flooding in the premises.
  • Broken pipes causing flooding.

A few examples of non-emergency repairs:

  • A minor leak in the roof or one of the pipes.
  • Slow drainage of the sink.
  • One of the doors inside the property won’t close properly.
  • A cracked window pane on a higher floor.

Renters may not know this, but when damage to the property, such as a flood or a fire, destroys their belongings, the tenants are typically liable for the damage, not the landlord. This is why it’s in a tenant’s best interest to buy content insurance to protect themselves.

Renting Toronto has been in the business of placing competent, qualified tenants in owners and landlord’s properties since 1999. Our company has full time dedicated agents renting properties on behalf of owners and owners have the final say on all prospective tenants. Our website receives thousands of hits monthly and as a Homeowner or Landlord you can display your rental property on our website at a very low cost compared to our competitors!

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