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February 10, 2010

Toronto Condo Rentals Up 12 Percent

As the old Jerry Reed song goes, “When you’re hot, you’re hot. When you’re not, you’re not!” Which one are you? Toronto condo rentals are certainly HOT right now!

From September to December 2009, the Toronto Real Estate Board (TREB) reported a 12% increase (from 2008) of condominium apartment rentals with the average rent being $1667 per month. (The current building boom in Toronto will add some 15,000 condo units with an obvious percentage being available for rent, by investors.)

This truly has an impact on the temporary corporate relocation, real estate and home staging industries: More properties for relocated employees to choose from; more sales/leases for agents ;and more units for home stagers to assist marketing.

Just think about it. If a company adds furniture rental (say, with bedding, kitchen, bath, etc.) to a modern unfurnished condominium, then add cable, high-speed Internet and phone, say for 6 to 12 months….that company will save from 25% to 35% compared to a pre-furnished condo. Do the math: It all adds up!

We are in a hot market. We all should be taking advantage of Toronto’s unique real estate boom. Call me. I would love to discuss how we can create opportunities for you. Contact Executive Furniture Rentals at (416) 785-0932, or contact us online. We’re your source for used furniture in Toronto and rental furniture.

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