Condominiums at Square One Distrikt. What kind of house is best to rent in Toronto? This is what tenants are most concerned about! Almost half of Toronto’s more than 1.1 million households live in rental properties.Please Visit: Condominiums at Square One Distrikt to Get Your VVIP Registration Today!
Although they do not live in their own place, like everyone else, tenants have a variety of pursuits for living. For owners who intend to rent out their properties, they can only focus on making appropriate investments by understanding the needs of this large customer base, and the tenants are happy to live and achieve a win-win situation.
According to different rent reports, the average monthly rent for an one-bedroom flat in Toronto is about 2300 yuan, while that for a two-bedroom flat is about 3000 yuan. However, there is always a cruel distance between dream and reality. A survey by zolo.ca, a real estate website, found that the amount of rent that tenants are willing to pay is far from the amount of money mentioned above.
The survey found that more than 1/3 (35 per cent) of tenants are willing to pay between Rmb500 and Rmb999 a month. 28% of the tenants are willing to pay a rent of 1000 to 1499 yuan per month. Only 13% of the tenants are willing to pay 1500 yuan or more per month.
What is impressive is that only 19% of the respondents said they could rent suitable housing within the budget. If the desired rental is found, only 8% of the respondents are willing to pay higher than the original rent estimate. As for the majority (73%) of the respondents, they said they would stick to their rent budget. The question is, what can tenants do when the market rent is so much higher than their budget? Perhaps, give up some “need” and “want” living conditions in order to strike a balance between ideal and reality.
For tenants, what are the living conditions that attract them? The survey found that 42% of tenants want to live in a house closer to work, 34% want to live near the public transport system, 31% think being close to school is the most important, and 31% say they like to live close to friends and family. Although many people have pets at home, 65% of tenants do not consider their house’s proximity to the dog park as a factor.
Interestingly, if the tenant changes to a buyer who wants to buy a house, nearly half of the respondents (46%) will consider pet-friendly facilities as an important consideration in their decision to buy. Thirty-seven percent of the respondents wanted a newly renovated kitchen, a master room with a suite bath, and a bathroom on the main floor. 34% also hope that the house will be equipped with new air-conditioning and heating systems, open intervals, and so on.