toronto rent

Someone in Toronto is asking for $8k in rent per month for a one-bedroom apartment

With Toronto's rental market being as pricey and pinched for supply as it presently is, there have been a glut of listings for what some would deem "horror apartments" that boast ridiculously sub-par living situations.

But, at least these types of units usually come cheap compared to what's out there, even if they are a perfect example of "getting what you pay for."

On the opposite end is one new listing that for some reason advertises over-the-top luxury pricing for what is an extremely average condo unit near College and Bay Streets.

toronto rent

The condo unit is very basic in every way, making the cost seem completely unjustified.

The one-bedroom, one-bathroom, 610-square-foot apartment is indeed close to a ton of amenities in the heart of downtown, has a parking spot and also comes fully furnished — albeit with furniture and decor that is really nothing speical — but even so, its price tag of just shy of $8k per month seems a little unrealistic.

toronto rent

It's nice enough, but nothing to write home about — or spend $7,488 and up per month on.

"Hotels now are expensive and come with so many extra costs. With us, you pay and you have a home away from home with all the amenities you need," reads the Craigslist posting, which admittedly sounds scammy as hell.

"Compare our prices with the big name hotels in downtown Toronto and you will quickly realize the big savings."

toronto rent

It comes furnished, with one bedroom, one bathroom, a balcony, living area, kitchen and bathroom in 610 square feet.

The ad hinges on the fact that the furnished unit is "the best alternative to long-term leases," and ends up being cheaper than a hotel stay when you look at the cost per night, which starts at $232.93, or $7,488 per month.

This exorbitant price is also only for those who pre-pay for a stay of at least three months; what the pricing goes up to, or what other factors would make the unit cost more, is not stated.

toronto rent

Literally nothing about the place is exceptional enough to warrant the price, which seems to be based on nightly hotel rates in the area, though it is being advertised as a short- or long-term lease (and tenants need to pre-pay for at least a three month stay to get the $7,488 per month rate).

It is also clear that the landlord is targeting people who might need to be close to a medical facility, as the condo's proximity to all of the downtown Toronto University Health Network Hospitals is emphasized multiple times. Thankfully the ad specifies that there are discouted rates for hospital patients, family members and staff, though it doesn't list the cost.

Regardless of the fact that the landlord wants to list the unit as a "five-star condo suite in a world-class facility," the apartment comes at a higher price point than an entire six-bedroom house near bougie Rosedale.

toronto rent

The building is near College and Bay, and the proximity to local hospitals is over-emphasized.

And, though a hotel stay for a few weeks or months may cost you more given inflated accommodation prices at the moment, something like an Airbnb or literally any other short-term lease in the city would be far easier on your wallet.

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