Transient rentals made a
comeback
By simply making a few changes in declarations for their new condo
projects, the developers allowed transient rentals to operate in the
residential suites.
The first ones to operate transient rental units in these condos were
the developers
themselves.
The
developers
A few Toronto developer retain units in a few of their
condominium projects to rent them on a short-term basis. Delsuites,
a member of the Tridel Group, and Minto have short-term rental units (minimum stay
30 days) in a number of locations in the GTA.
Delsuites
15 condo locations in the GTA
Delsuites rents furnished condo apartments, townhouses and a few
semi and detached houses in the GTA. Some of Tridel's new condo
developments feature suite-hotel units.
Minto's short-term
rental suites locations in Toronto
Minto has
fewer locations and, so far, they are located
on the Yonge Street subway line.
Transient rental
units
Here are the unit numbers for suite hotel units at one west-end Toronto
condominium building.
Floor
|
Stack
|
20th
|
2031 |
|
|
|
|
19th
|
1931 |
|
|
|
|
18th
|
1831
|
1837
|
1838
|
|
|
17th
|
1731 |
1737 |
|
1739 |
1745 |
16th
|
1631 |
1637 |
1638 |
|
|
The developer's subsidiaries rent furnished suites for no less than 30
days. They boast of all the condo's amenities that their guests can use.
Owners may not
be aware
Some resident-owners in the newer
condominium corporations are not aware that their
declarations allow for short-term rentals, boarders and roomers.
In
a growing number of GTA condos, many owners don't
realize
that the developer has a subsidiary renting
condo units as short-term hotel rooms in their building or that the
condo's property management company may be also be managing the renting
of individual units for absentee owners.
You can see how there can be so many conflicting interests and how hard
it can be for an outsider to win a position on the board of directors.
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