Posts Tagged ‘Downtown’

If you’re a Toronto Start reader, chances are, you woke up yesterday to a story that featured a very well known Realtor! He’s tall, successful, knows a lot about Toronto condos and has no hair on his head - Brad J. Lamb… just below him was the words of an average sized, modest Realtor, with a full head of hair – me (Mark Savel)!

A few days before the article was published, I had a lengthy talk with Susan Pigg – columnist for The Toronto Star’s Moneyville section.  She was most curious about the current state of the Downtown Rental Market, and specifically if there was any truth to multiple offers scenarios for downtown condo rentals.  Brad Lamb, Dominic Calla and myself were all asked to share our experience in leases with her. If you haven’t read it yet, give it a read here!

Naturally, an article can only fit so much… so I wanted to share some more insights from the streets to describe the current state of downtown rentals and how you can improve your chances of leasing a unit.

Last month I was fortunate enough to participate in four different rental transactions.  In each case I represented one side (meaning tenant or landlord only) which gave me some really good knowledge on what both parties go through. In short, supply of rentals is much less than demand which has resulted in a tough time for potential renters!

Back in the day you could actually negotiate the suggested monthly rent (most people think that rent amount is carved in stone).  In a balanced market I can usually negotiate anywhere from $25-$150 off the asking price.  Various factors such as market conditions, unit appearance, and length of lease are just a few of the variables that can determine your bargaining power.  In today’s market most of those chips are off the table.  Some of the most popular areas people want to live are: Liberty Village, The Bay Street Corridor and The St. Lawrence Market.  In these neighbourhoods units move fast…in less than a day in some cases with multiple people wanting the same lovely space as you.  So why is this?

Location, Location, Location, lack of apartment style rentals and high purchasing costs are the typical reasons!  For the Bay Street Corridor its the network of hospitals and proximity to the University of Toronto that makes it so desirable.  In Liberty Village and The St. Lawrence Market, it’s the convenience of having practically everything within walking distance (banks, bars, grocery stores, gyms, LCBO etc). With such high demand, finding a place in these areas is often a tricky task.

So what can you do to improve your chances?

Every person I worked with last month got the first unit they wanted…how? They were very well prepared.  Since landlords have a large pool of renters to choose from I always suggest my clients get few things in order before the search begins!

Landlords always ask potential renters to provide them with a current credit check. For $20-$30 you can have one prepared and printed online from Equifax or Transunion. The report is something landlords use to evaluate the history of your credit worthiness. By preparing one early, you can review it yourself to ensure to mistakes were recorded (a common problem these days).

An employment letter is another valuable document that can go a long way in securing a unit.  It can be obtained from your companies human resources department and typically states how much you make a year and the position you hold.

Most Realtors (myself included) will ask you to fill out a rental application.  It gives the landlord a quick summary of who you are as a person.  It also asks for past references from previous landlords and employers.

Those three documents can be vital in finding a lease… and in some cases it may even secure you a place without going up in price. I also suggest having a certified cheque or bank draft for the first and last months rent prepared before your Realtor presents your lease. It shows you’re serious about the place and makes a great first impression!

Some extra expenses to plan for above and beyond rent are: Key deposits (typically $150-$200 paid at the beginning of the lease and is returned at end of lease), tenant insurance and utilities not covered in rent (ie. hyrdo/heat).

All this may seem like a lot for a lease, but remember landlords have the cards in their favour and want to protect their investment by renting out their condo to the most qualified renter!

Happy hunting!

It was one of those weeks that took me all over the City…from River City in the Queen East area to 8 Gladstone in the West! As per my usual shutterbug ways, I stopped at each project to take a few photos of the progress.  It was interesting to see the progress 8 Gladstone has made in a mere 7 months.  The existing structures have been demolished to make way for the new TACT designed building!  Enjoy some more photos of progress below…

In the East, I took some time to walk along the bridge over looking the future River City Development.  Workers were on site and busy plugging away at some much needed infrastructure for the project.  Phase 2 is also about to launch to stay tuned for the latest deals and promotions at the new River City community.  See what I saw in the photos below! Read the rest of this entry »

My mother often says “i’m worst than her with all the shoes I have”…and this past weekend, I discovered she may very well be right!  I’ve got my running shoes, working shoes, weekend shoes, house shoes, water shoes, gardening shoes etc etc. BUT what I don’t have is a lot of space to keep all these shoes.

In an effort to solve my shoe collection of a problem, I came across two creations from brothers Jaime & Mark Antoniades of J-Me Original Design.  The two work out of London’s Oxo Tower,and follow a focused design ethos which results in a range of products that encompass original, intelligent design and everyday function.

The Horizontal Shoe Rack was the first possible solution that caught my eye.  It’s a stainless steel shoe rack that can be mounted to a wall giving it a floating look while holding up to 4 or 7 pair’s of shoes (available in two lengths). Stacking 3 or 4 of these above each other can create a wall of shoes allowing for quick access an open display.

The second choice was the Freestanding Nest Shoe Rack (also available to mount on the wall).  It comes in one size and holds about 7 shoes.  I like this one because even without shoes it looks like a steel sculpture that can be on display as is!

Both can be purchased online from the brother’s website … or if you’d like a space big enough to fit all your shoes without resorting to a rack, Contact Me, I’d love to help!

 

 

 

Love’m or hate’m, tall towers are as much a part of Toronto as the “gravy train” was to Rob Ford winning the election!  The growth of these towers, both in height and numbers, has attracted a of attention from various members of the community. The biggest complaint I hear from people on the opposing side of condos isn’t so much the number of them being built, but rather the heights at which they’re reaching… which leads to the age old question:

How tall is too tall?

Award winning architecture studio RAW invites all architecture buffs, shutterbugs and those interested in city design to contribute photos to a new Harbourfront Centre exhibit ‘TOO TALL?’ launching Sept 30.  In conjunction with the Toronto Society of Architects, Harbourfront has invited top architecture firms including RAW, Architects Alliance, KPMB and visual artist Douglas Walker to engage the public in a debate on the role, benefit and beauty of tall buildings.

RAW Architects (you may remember them from the wicked awesome bread party the held in May, or the fresh building design they delivered for Downtown Mini Cooper) is offering the general public a rare opportunity submit photos to the exhibit and put the debate over tall buildings into perspective.  Hundreds of images are needed!  Examining scale as a relative term, people are encouraged to send in a quick pic using any device of ANY building they consider to be tall, framed between their thumb and index finger. Could be a building people like or hate, just put it in perspective with a caption up to 140 characters.  Pictures will be incorporated into RAW’s ‘TALL IS MORE’ digital installation. Deadline for image submissions is Monday, September 26^th.

Images can be submitted via Facebook, Twitter or Email and should include a brief description up to 140 characters. Max file size is 600×800 pixels.

 Facebook http://www.facebook.com/pages/RAW-architects-and-designers/133960586658656

Twitter http://twitter.com/rawdesignTO

Email      tall@rawdesign.ca

‘TOO TALL?’ will launch with a VIP event Friday, September 30^th, and will be open to thepublic from October 1^st, 2011 through December 31^st, 2011. Harbourfront Centre is located at 235 Queens Quay West, Toronto, ON M5J 2G8. For more information, please visit www.harbourfrontcentre.com

 

During the next few months I’ll be introducing my readers to a slew of new condo developments coming to Toronto…before I do, I thought it would be a good idea to share a story of a different note!

Back in January I wrote a post about a rather creative marriage proposal that caught the attention of several on lookers including the residents of Domus, and myself!  I never did find out how the proposal turned out…but I did stumble upon an even better marriage proposal.

This one is right in line with what my past post discussed.  It’s creative, different, passionate and perfectly planned out! I don’t know too many details about who the couple are, but I do know that it ranks right up there with “The Office” spoofed wedding entrance …annnd it happened in Toronto!

The proposal is broken down into two video’s and well worth the watch, check out her response below!

Fella’s…step your game up!  Ladies, keep a Kleenex near by…and to the lucky couple, if you need a place of your own to start your family, give me a call, I’d love to help!

Congratulations, and all the best in the years to come!

Anyone else think of that Joni Michell song when they see this picture? Of course, today’s version would probably read something like: “They paved a parking lot and put up a condo”

It should come as no surprise that Toronto has taken a commanding lead in the market for highrise construction…but I’m sure you don’t me to tell you that, just take a drive downtown and you’ll see all the cranes working on projects under development.

Fall is on pace to be one of the busiest markets ever!  According to info gathered from BuzzBuzzHome, RealNet Canada, Tridel and BMO, we can expect over 75 launches from now until year end. Though not all of these will be in Toronto, it’s still mind blowing to think how much our skyline will change over the next few years.

Now that summer is pretty much over, I’m getting back into blogging and will focus on a few projects that I think will really offer some great options to purchasers.  Stay tuned as I’ll be covering a few Fall launches in the coming posts!  Until then check out another awesome infograph from BuzzBuzzHome:

If I had to pick the most asked question I get, it would have to be: “how is the Real Estate market, and is it a good time to by?” Shortly after that comes the “well I heard in the news that _______” or “My friend knows a guy that’s well connected on Bay St, and he said _______”.  I’m sure by now you get the point, or maybe even caught yourself asking/saying the very same…not that there’s anything wrong with that!

I’m going to let you in on a little secret of the Real Estate world and whether other Realtors want to admit it or not, the truth is NO ONE KNOWS WHERE THE MARKET IS GOING! (well at least not as far down the road as some of these predicitons have been given) Sure, there’s market “indicators” that can give us a general sense of the market but truthfully you shouldn’t waste your time listening to any forecasts further than 3 months!

I for one completely tune out all “reports” on a national level. Real estate is local, and in my market each and every condo building can produce a different result.  So if the price of potatoes in P.E.I. goes down resulting in less condo sales out east, it really doesn’t effect the market in Toronto.  And vice versa, if sales are red hot here, it doesn’t mean the rest of the country is following suit. Soooo if you’re going to open a ear to any predictions, at least let it be a local one! Read the rest of this entry »