Toronto homeowner charging $1,300 to live on their couch for a few weeks
In today's episode of completely bananas Toronto apartment listings, someone has not only attempted, but actually succeeded in renting out what appears to be their living room, kitchen, and bathroom for the staggeringly-high price of $1,300.
And here's the real kicker: the tenant doesn't even get a full month of couch surfing for that price.
Listed as a 0-bedroom, 1 bathroom apartment, the "unit" is described as "a quaint and cozy bachelor apartment located in the heart of The Beaches, just minutes from the lake. Has a small bathroom with tub and shower and a small kitchen with new appliances. Includes a convenient murphy bed and desk for working."
While the unit does come with included perks like utilities and internet access, the resident will hardly have any time to get settled, as the rental period only covers July 4-29.
That comes out to about $52 per day. Granted, that's a lot cheaper than a hotel or a short-term rental, but it's still pretty unbelievable to see what is essentially a glorified couch-surfing situation advertised as such a steal of a deal.
At least one comment replying to the Facebook listing agrees that this is not such a bad deal, stating that "even if you rented an Airbnb in The Beaches it would be over $100/night."
Still, others aren't as easily convinced, with one jokingly asking, "is the furniture covered in gold? If not I pay only $600." Another said, "oof this smells of Toronto hard."
It may seem like a perfect representation of how ridiculous the rental market has become in this city, but when you crunch the numbers, this questionable-looking rental opportunity actually comes out well below the daily average cost of a rental unit in Toronto.
A citywide average rent of $2,139 was recorded in April, which comes out to a much steeper daily cost of $69 when spread across a 31-day month. Granted, the average unit is not a 0-bedroom that is really just someone's couch, bathroom, and kitchen.
Toronto-wide averages may look a bit inflated, but when you break down the numbers in other east end markets, you'll find much lower average rents like $1,812 in East York and $1,726 in Scarborough.
These would equal daily rents of $58.45 and $55.67, a whole lot closer to the $52 per day charged for this "unit."
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