Category Archives: Condo Rentals

Is It Best Not To Own A Condo?

Purchasing a new residence in Toronto involves many issues and condos may be on your radar. Before you buy, keep in mind there are disadvantages to condominium ownership vs renting a condo.

Disadvantages of Owning A Condo

Condominiums are simply a collection of units in a structure or structures. All property on the interior of the unit is yours with few limitations. Everything outside of the unit, however, is considered to be in the common areas and subject to administration by the homeowners association for condominium communities. As with any bureaucracy, this can lead to problems.

1. Parking – One of the biggest pet peeves with condominiums is parking. While this may sound petty, it becomes a big issue over time if a particular situation occurs. One would think a condominium comes with assigned parking. In many developments, however, this simply isn’t the case. Instead, parking is on a first come, first serve basis. Over time, this situation can become extremely aggravating. With guests in the neighborhood, you may eventually find it difficult to getting parking!

2. Restriction – Toronto condominiums are all about uniformity. If you prefer to express your individuality, the rules of a condominium may drive you insane. Since people live close to each other in condos, there has to be a number of rules to keep the peace. Many condominium associations, however, seem to go overboard with rules and one can often feel like a prisoner. You may be restricted from having pets, particular types of material in your units, renting to others, making noise outside during certain times and so on. Before taking the plunge on a condominium unit, you absolutely must read the rules and regulations for the association.

3. Association Fees – Homeowners’ associations need money to keep the gardening up and so on. As a unit owner, you are responsible for paying monthly homeowners’ association fees. Before taking the plunge, you need to make sure you understand the current fees. You should also look back in time to see how much the fee has risen over time. Paying an extra hundred bucks or so a month probably will not kill you, but what if the monthly fee is five hundred dollars?

The decision to purchase a condominium can be a complex one. While there are distinct advantages, the devil is in the details. Make sure you understand what you are getting into before taking the plunge.

Renting A Condo In Toronto

Toronto condominiums are one of the best residential options for people looking for a different living environment. There are many condos you can get for a few days instead of getting a hotel room. As a result, condo rentals have become one of the most popular options that vacationers take with regard to the accommodations that they use during trips. One of the biggest reasons for this is that apart from being the more practical option, condo rentals allow vacationers to enjoy the comforts of home during vacations. Moreover, there are also other advantages that renting a condo can provide vacationers, which have added to their popularity.

One of the biggest advantages that condo rentals bring is that they are more affordable than hotel rooms, which can allow vacationers to save money for their vacation. Another advantage is that condominiums provide more space for families where they can move around comfortably, as compared to some hotel rooms that force families to cramp themselves in very small spaces. In addition to these, condos also have kitchens that allow people to cook their own food and enjoy home-cooked meals even on vacation, which can also mean more savings. In addition to these, the fact that most condominiums have more than one bathroom makes it more convenient for large families to rent a condo. Moreover, Toronto condominiums also allow people to invite other people to go with them on vacations, because the large space that condos provide eliminates the need for people to book other hotel rooms to accommodate their guests. There are a large number of affordable condominium units that people can rent, which are located in some of the most popular tourist destinations across the country.

Nowadays, people are provided with more practical and better options with regard to the accommodations they use during their vacation in the form of condo rentals. This is because condo rentals provide a myriad of benefits that make them the ideal option for vacationers especially for large families who go on vacation. An example of which is that families can enjoy their vacation while also enjoying the comforts of home that Toronto condo rentals provide. The good news is that there are a lot of condominium properties that people can rent in some of the most popular vacation destinations.