With shrinking condo sizes and skyrocketing rents, there’s at least one place renters may still find a deal: The Bridle Path.A five-bedroom mansion on Shady Oaks Cres. — that clocks in at about 6,100 square feet — is listed for $6,000 a month, around the rental price of two basic two-bedroom apartments downtown.But unlike most downtown units, the mansion — described as an “architectural wonder” on the listing on realtor.ca — also comes with an in-ground pool, a parking garage and room for eight vehicles, and two rooms described on the listing as for “games.”Scarcity of typical rental options combined with a cooling luxury housing market means renters may be able to better stretch their budget by upsizing, says Jim Burtnick, a real estate professional with Sotheby’s International Realty who specializes in luxury properties.Read more:How four Gen Z roommates ‘get squishy’ to afford a downtown lifestyleHow ‘monster homes’ are transforming Toronto neighbourhoodsA Little Italy one-bedroom is listed for $4,500 a month. But why?He said there’s been a growing trend of high-end property owners putting their luxurious houses up for rent in the past few years.“Houses are actually more economical to rent,” Burtnick said, noting condominiums tend to be favoured by renters due to walkability, lower upkeep and bundled rent and utility costs, but demand often outstrips availability in a city like Toronto, where the rental vacancy rate is at 1.1 per cent as of 2017.“It’s making more sense for people to look at houses as alternatives,” he said.The Shady Oaks mansion is not the only luxury property in the ritzy North York neighbourhood trying to attract renters instead of buyers. A listing for a four-bedroom house at the “prestigious” 1 The Bridle Path asks $6,500 a month in rent. Another six-bedroom mansion a few blocks north features a 700-square-fo ...
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