Things Worth Spending money on: renting versus owning

[needinit]

In the Things worth sending money on, renting versus owning a property comes up.

People talk about rental properties being pretty average (which I am sure 99.9% are), but has anyone seen the Income Property show on HGTV? Those are high end rentals, although I am sure most are not furnished, just staged (there was one recently for executive month-month rental, so would be furnished like a hotel or B&B). Do apartments like those exist more commonly? or very much the exception.

(I am not a renter in Toronto, just curious)

 

[anon1]

renting versus owning

Isn't that the raison d'etre of the hobby?

 

[Marla]

Executive rentals are difficult to find in the city but they do exist. Many corporations will rent them for a few years so there execs always have a destination. There are some furnished rentals in the apartment complex on Don Mills north of York Mills on the east side. I can't remember the name of the street, but a one bedroom furnished rental goes for $2200 per month. They are expensive because there are so few of them and because of supply and demand.
There are some down on Gloucester street and I had a friend who purchased two homes there and turned them into executive rentals and did very well after he got his investment back. They could be found in the Star or Globe under furnished rentals. I believe the Sutton Place also has furnished rentals as well. They run up to $4000 a month or more.