Toronto's rent crisis is getting so bad that hotels are offering month-long stays for cheap

A hotel in Toronto is taking on the new role of long-term landlord as people looking to rent apartments in the city continue to find the hunt for an affordable home nearly impossible in the present housing landscape.

The Don Valley Hotel is happily accepting guests looking to stay for a month or more, advertising a tenant's dream of a fully-furnished private room with all utilities covered — heat, hydro, cable, and wifi — and some added perks for cheaper than the typical apartment in the city.

While the average rent in Toronto is now $2,908 per month as of October and the typical one-bedroom unit is $2,607, the hotel is offering rooms for a monthly price of $1,999, which also includes parking, as well as pool and gym access.

Located right at the corner of Eglinton Ave. E. and the Don Valley Parkway, the brand positions the housing option as perfect for people in transition due to emergencies like fire and flooding, delays in new condo construction, or inability to secure a home for whatever reason.

It also works for new arrivals to the city until they are able to get settled, or people who are here more temporarily.

"We developed this package during COVID and have maintained several of these guests through to now, and assumably into the future, so we are looking to expand and add additional longer-term guests," Don Valley Hotel Manager Kevin Porter tells blogTO.

"There is also a big issue with those in the middle and lower class in obtaining apartments with people paying annual rents, and the other things [they need] to ensure they are chosen for available apartments."

He notes that a longer stay in a hotel is also convenient in that it is available immediately, and doesn't require first and last month's rent, nor a credit check or proof of employment.

Those looking to stay in the hotel for any amount of time should note that they will need to provide a $500 refundable deposit, as is typical in the industry, for any potential damages they may cause to the property.