Determining Rent for a given Neighbourhood

[DaveY]

Hi all,

I have a question on how to determine rent for a house in downtown Toronto.

The house I am interested in is a semi, 2 floors, with a finished basement. The first and second floors can be separated with their own entrance as there is bathrooms and kitchens on each floor.

Floor 1 would be a 1 bedbroom, living room area, very nice kitchen and a small bathroom - stand up shower.

Floor 2 has 2 bedrooms, small kitchen and a regular sized bathroom. No living room area.

Both floors have been renovated and would be a standout units in the neighbourhood.


How do I find out what the going rate is for these units?

Any information would be greatly appreciated.
Dave

 

[BMironov]

Hi Dave,

You can start from walking around and calling "For rent" signs.
There is also a number of free weekly publications for renters in Toronto.

gottarent.com - another source

Real Estate agents in area could help you. Just look for "For sale" signs in area and call them.

Check CMHC web site. They provide regular reports about major cities with such numbers.

I think, it should be enough to start with.

 

[mihwalee]

Hi Dave,

I like to ask property managers in the area. Call around until you get someone that`s knowledgeable and informative. You can pick their brains about other issues as well e.g. how to divide up utility bill, etc. Good luck.

QUOTE (DaveY @ Oct 1 2007, 10:12 AM) Hi all,

I have a question on how to determine rent for a house in downtown Toronto.

The house I am interested in is a semi, 2 floors, with a finished basement. The first and second floors can be separated with their own entrance as there is bathrooms and kitchens on each floor.

Floor 1 would be a 1 bedbroom, living room area, very nice kitchen and a small bathroom - stand up shower.

Floor 2 has 2 bedrooms, small kitchen and a regular sized bathroom. No living room area.

Both floors have been renovated and would be a standout units in the neighbourhood.


How do I find out what the going rate is for these units?

Any information would be greatly appreciated.
Dave

 

[DaveY]

Thanks for the info BMironov, mihwalee.