Executive Condo Rental at 210 Victoria St – The Pantages Tower

The Pantages Tower - 210 Victoria St

Are you looking to rent in the core of the city? Are you tired of boring old cookie cutter finishes? Can’t find that split bedroom layout? Well look no more… this executive rental at Yonge and Dundas has all that and more! Located at 210 Victoria St in the Pantages Tower, I’ve just listed  one of the best laid out floorplan in the building!

From your first moments in the building, you too will see how this building is set apart from others near by. All guests are greeted by a concierge in the “hotel like” lobby.  The elevators are a short walk up and feature a colour changing tree installation.

Lobby

Located on the 20th floor, this corner unit suite has set it’s self apart from other’s in the building with it’s modern upgrades. From slate flooring in the kitchen to engineered hardwood through out – this unit is like no other in the building! Being a corner unit, you also benefit from both South and East views allowing for lots of natural sunlight.

The Pantages Tower - 210 Victoria St The Pantages Tower - 210 Victoria St

Completed in 2003, the Pantages Tower was designed in a time where developers actually gave thought to floorplans and how people would want to live! Instead of being crammed into a shoe box, you get close to 1000 sq.ft. of spacious living.  The bedrooms are split on each side of the unit for added convenience.  The first bedroom is located right next to the upgraded 3 piece bathroom and can easily feature a double sized bed.

The Pantages Tower - 210 Victoria St

The master, which faces south and over looks the city, can be simply described as: HUGE! Not only can you fit a large king sized bed, there’s also room for a desk space and ensuite bathroom.

The Pantages Tower - 210 Victoria St

In between the two bedrooms is the kitchen, living room and dining room! The kitchen has gone through a fresh makeover with new floor, countertops and refinished cabinets. It’s a galley style and can easily accommodate 2 cooks at once.  An eat in breakfest area at the end of the kitchen tops off the space.

The Pantages Tower - 210 Victoria St The Pantages Tower - 210 Victoria St

The flooring in the main living area adds to the over all allure of the unit! Floor to ceiling windows offer wrap around views of the city below. Ensuite laundry, one parking spot and all appliances are being included in the lease as well.

The Pantages Tower - 210 Victoria St The Pantages Tower - 210 Victoria St The Pantages Tower - 210 Victoria St

As far as the neighbourhood goes – it’s doesn’t get much better than living at the Pantages Tower! You’re literally steps away from The Eaton Centre, Massey Hall, St. Mikes Hospital, Yonge Dundas Square and the TTC… plus a ton of bars, restaurants and shopping options!

We request all potential tenants provide us with a credit report, employment letter, proof of income, references, rental application (can be emailed), tenant insurance, deposit for keys and first and last month’s rent up front. No pets or smokers please.

We’re asking for $2650/month and all utilities are included in the monthly rent.  I’ve you’d like to schedule a tour of the condo… contact me!

Rental App for iPhone

Rental App for Iphone

Finding a rental in this big City is no easy feat! Sure, the MLS is a great place to start – and having a Realtor help you out is always a useful option… but both can sometimes be limiting. Enter: The iPhone Apartment Rentals Search by RentCompass Inc.

According to it’s iTunes description:

Imagine walking around your favourite neighbourhood and you wonder if there is a place for rent nearby. Well, there’s an App for that. The RentCompass App combines everything we love about iPhone maps and location services to deliver an unparalleled experience.

Find rental apartments and houses on the go while commuting to work or school, or while sitting in your favorite coffee shop.

Like a property you see? Browse the property photos in full screen, contact the listing agent/landlord instantly via email or phone. Don’t have a data plan? Simply mark the property as a favourite and it will be downloaded on the device for off-line browsing.

The App is free for renters and listing is free for individual landlords. We are proud to be Canada’s first rental listing service for the iPhone, iPad and iPod touch.

The app is made by the same forward thinking company that brought the TTC Rocketman App to Toronto a few years back! The biggest competitive advantage that I feel this app has over other “rental classifieds” is that they allow all landlords and property managers to post for free. For renters, this opens up an even bigger selection then the sometimes limited availability of the MLS.

The app is available as a free download and works on a variety of platforms! Check out a short video of the app in action below.

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Parking Spot Rental Agreement for Toronto Condo’s

B Machine

A few tips for renting out a parking spot:

1. Check with your property manager first to ensure you have the authority to rent out your spot and ask about any special bylaws that may apply.

2.  Set a term and price for how long the rental will last for.

3. Factor in the potential that the unit may sell during the term set out for in the lease.  Both parties should have a clear and easy out should the unit sell and the parking spot be needed by the new owner.

4. Put everything in writing, always…From parking spot location, description of the car,  to post dated cheques. Feel free to use my Parking Spot Rental Agreement, but be sure to edit or add anything that applies to your unique situation.

A few weeks back the Toronto Star ran a great article chronicling the legality of renting out a private parking spot in the City.   The gist of the story was that the bylaws haven’t been updated to reflect today’s times and that renting out a parking spot in your own driveway is in fact - illegal!

mls“>Search The Toronto MLS

In my daily business of working the downtown condo market, this problem becomes even more complex! Often times there are more rules and by-laws that must be met before renting out a spot. For example, most condo bylaws only allow owners to rent out to other residents of the building ONLY! Because most spots are located underground, a remote garage door opener is often needed.  This device can also open several other doors to the building and allow non residents access to private common areas… ie gym, pool, etc.

Truthfully speaking, I have no idea where the city stands on the legality of renting out parking stalls in private condominium building… but I do know that rentals happen very often, and typically without much organization.  Due to this grey area, problems range from non payment to lost remotes.  In an effort to make the process easier for everyone, I’ve come up with a simple Parking Spot Rental Agreement for those looking to lease out their spot.

 

Apartment for Lease at Yonge and Sheppard

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It’s no surprise that the downtown condo rental market is on fire right now!  Units are being leased out in both a record time and price.  What many may not know, is there is relief… and on the subway line too.

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I’m currently leasing a well laid out one bedroom unit in the Yonge and Sheppard community.  Located at 31 Bales, the building is part of a two phased condo development called Cosmo, built by Menkes (completed in 2006).  The two towers share a concierge, pool, gym, games room, and has a ton of underground visitor parking.  What makes the location ideal is the easy access to both the Yonge Subway line (literally around the corner) and a lot of public amenities such as grocery stores, restaurants and movie theatres!

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The unit is a very simple and easy to use space.  It’s a one bedroom floorplan that faces north and offers a great little balcony. The floors have been upgraded from the developers standard finishes and both a washer and dryer are in the unit.  The kitchen offers great space with lot’s of storage and granite countertops. The walls have been recently painted as well!

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Renting a Condo in Toronto

Finding a condo to rent in downtown Toronto is no walk on the beach these days!  Having spent most of my summer searching with a wide range of clients from students to bankers – I’ve seen everything from bidding wars to questionable clauses!

So what gives… Why is it that all of a sudden rentals have become so hard to come by? In short – the little supply of  condo rental inventory is the biggest reason.  Contrary to what other articles may have said, we are no where near a renters market.  In fact, never have I seen such a favourable time for Landlords.  With so many renters competing for such few vacancies, landlords can be as picky as they want towards the tenants they choose!

Bidding wars have become verrry common for downtown rentals. In a popular Yonge and Carlton condo near Ryerson Univeristy, I had booked an appointment for a weekend viewing. For whatever reason, the tenants weren’t allowing showings until the following Monday.  As I called to rescheduled I was told that two Realtors already registered offers on the unit sight unseen!

Almost every tenant I represented this summer had to out bid or offer more favourable terms to secure their eventual rental. And it’s not always the highest price that wins… one client offered an extra $250/month and still lost out!

But don’t let all of these horror stories scare you, there is a light at the end of the rental search tunnel!  Luckily, each client was successful in evenutally finding a place.  All you need is a bit of patience, and some tried and tested tips to help you with your search.

For starters – BE PREPARED.  Landlords are screening tenants more closely than ever before. The best chance at securing a rental these days is to have as much paper work in order before the search starts. I advise all my clients have the following documents ready to go early on in the process:

Credit Check – All landlords will ask potential renters to provide a Credit Check. You can get one from Equifax or Transunion. It’ll cost approximately $25 and is prepared instantly. The credit bureau is known for making mistakes, so by getting one done early you’ll be able to review it and correct any issues that may arise. Naturally the stronger the credit score, the better the chance of being accepted by a landlord.

Employment letter with references – This letter can be had from your Human Resources Department and the references can be from former managers/bosses, past landlords and/or anyone who can vouch for you as a tenant.

Rental Application – If you’re searching for a property on the MLS, you’ll need to submit a rental application with your offer.  I send over a .PDF of the application so my clients can have it filled out and ready to go before we begin.  The application will ask you to list your current housing location, reason for the move, who will be living with you, and any loans or obligations you may have.

All landlords will ask for first and last months rent at the start of the lease.  24 hours after having an offer accepted, you’ll need to deliver the amount by way of bank draft or certified cheque.  You’ll want to make sure those funds are available in advance.  If they’re in an investment or another account, it make take a few days (or longer) to get them out. For the remainder of the 10 months, standard bank cheques are fine just make sure you have sufficient amounts… hardly anyone uses their cheque book anymore.

There are a few other expenses to budget for above and beyond the monthly rent:

- Any utilities not covered (typically Hydro) will be your responsibility.  The landlord will often provide you with the contact number for the company incharge with hooking it up.

- Key deposits are very common with condo rentals. They range between $150-$200 and are paid by way of cheque at the beginning of the lease and given back at end of lease provided the full set of keys is returned.

- Tenants insurance will cost anywhere from $30-$40 a month but can save you a lot more.  The purpose of the insurance is to protect you from liability from any fire/flood in the unit. All it takes is one broken washing machine to flood a few units, and before you know it you’re paying the value of the condo in repairs. I often suggest my clients get coverage for no less than a million dollars.

Happy hunting, and best of luck with your search!

 

 

Sage Logo PNG copy Mark Savel - Sales Representative - Sage Real Estate LTD., Brokerage - 1820 Bayview Ave. Tor, Ont, M4G 4G7 - 416-483-8000