Why are condos so crappy?
Landlord Rescue
05 September 2016

I’ve rented a lot of condos, and I’ll rent thousands more I’m sure. I’ve seen my share of awful layouts, bad treatment from security, substandard common areas, unfinished buildings and more recently absence of parking. After this weekend and the lack of power at Cityplace… three times this week, someone has to ask this hard question.

I have a theory about why a lot of situations exist. Investors buy condos pre-construction, from plans. Developers can pretty much change whatever they want, add what they want, remove what they want and you have to suck it up. Investors mostly care about how much money they will make. They will never live in the place, chances are they will just rent out the suite for a year or two then sell it.

The developer is therefore marketing their product to the investor who just wants to make money and will never live in the suite. This is why I have to rent two-bedroom condos with no room for a full size sofa in the living room because of concrete pillars. Another place I rent has three bedrooms in 900 square feet and a very small combined living dining kitchen room. At least you can fit a full size sofa in, but as one of the only three-bedrooms I’ve seen built in this city, it’s completely impractical for a family. I’m 99% sure this developer did not put this weird sprinkler system in his brochure.

That’s what happens when you buy a unit at a side of the building that firetrucks can’t reach with their hoses. In any case it’s ugly as hell and probably not what wifey has in mind when she’s planning window treatments.

most condos in this city are not marketed to the end user

That’s my point, the reason that condos are so crappy is because the person who ends up living in the condo is not the person who purchased the condo. With the HST, it’s likely that the first person to live in the condo is either the investor or a tenant. Tenants are selective but aren’t as picky as buyers. In fact an argument could be made that most condos in this city are not marketed to the end user.  This creates a complete disconnect between what the end user user needs and the product available.

Condos as glorified hotel rooms
For the most part, the new condos tend to blend together in a bright white palate of similarity. Differences are minor, layouts are pretty boring and blah. As a innovation I’ve liked the Jack & Jill Ensuite. Most ridiculous is the One Bedroom plus Den at Ice Condos at 12 York, where the “den” is a six inch recess in the wall where you couldn’t fit a sofa table.

The spaces are most suitable for young professionals who stay out all the time, landing for the night after dining out, occasionally doing laundry only to leave in time for work the next day.

Condos for boomers
This idea is so funny. I see boomers trying, but they have to dispose of their furniture, and hire organizers. I doubt that there will be mass adoption of the condo by boomers. I do see the upsurge of senior help services to help boomers stay in their houses and neighborhood. The kind of shoe box currently being built by developers and bought by investors is kind of offensive to the Boomer lifestyle.

I’m not sure what I hate more

Shoeboxes…
If you’re a developer, it’s a “micro condo” but if you’re a university student trying to subsidize the rent, it’s a walk-in closet. I’m not sure what I hate more, the disappearing parking spot or the shrinking condo. Spaces have to be liveable and sometimes they aren’t or have significant problems.

My advice about investment condos
Long term, unique and livable layouts, room for a table and chairs and a decent building are tops. Personally I don’t think that buildings that are 50% or more one bedrooms or bachelor or studios make for stable buildings. They make more money for developers but, they also will have a lot of moving in and out and transitory renters.

Ask yourself: “Would I live there?”


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