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Best Toronto Neighbourhoods for Executive and Corporate Rentals

Thu, 24 Sep 2026 20:18:27 GMT

A Local Guide to Toronto’s Best Areas for Furnished Executive Rentals, Corporate Housing & Relocations

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Furnished Temporary Housing Guide

Thu, 24 Sep 2026 20:05:27 GMT

Where Can I Stay During a Home Renovation in Toronto? Furnished Temporary Housing Guide

If you’re renovating your home in Toronto and need somewhere to live for a few months, a furnished medium-term rental can be one of the easiest alternatives to living through construction or spending months in a hotel. Urban Dwell Luxury Rentals specializes in furnished temporary housing in Toronto for homeowners renovating their homes, people displaced by fire or flood, families between homes, corporate relocations, and film and television professionals. Properties are fully furnished and designed for stays of several months or longer, depending on the home and building requirements.

Where can I live temporarily while renovating my house in Toronto?

If your Toronto home is undergoing a major renovation, you generally have several options: stay with family, book an extended-stay hotel, rent an unfurnished apartment, or find a furnished temporary rental.

For renovations lasting several months, a fully furnished house, condo or apartment can provide a much more normal day-to-day living environment.

Instead of moving furniture into temporary accommodation, you can choose a property that already includes the essentials you need to live comfortably.

This can be particularly helpful for families who need:

Multiple bedrooms
A full kitchen
Laundry
Wi-Fi
Parking
Workspace
Pet-friendly accommodation
Outdoor space
A residential neighbourhood rather than a hotel environment

Urban Dwell helps clients find furnished rentals in Toronto during home renovations, including options in established residential neighbourhoods throughout the city.

FAQ:

Can I rent a furnished home in Toronto for 2, 3 or 6 months?

Yes. Furnished rentals can be particularly useful for people who need accommodation for approximately three to twelve months, although availability and minimum rental periods vary by property.

Some Toronto condominiums have minimum lease requirements, so it is important to confirm the permitted rental period before booking.

Urban Dwell focuses on medium-term and executive furnished rentals in Toronto, helping match the required dates, neighbourhood, budget and lifestyle needs with an appropriate property.

Where can I stay in Toronto after a fire or flood?

If your home has been damaged by a fire, flood, burst pipe or another insured event, you may need temporary accommodation while restoration work is completed.

A hotel can provide an immediate solution, but if repairs are expected to take several months, many households prefer the space and privacy of a furnished home. A furnished temporary rental can provide a kitchen, laundry, separate bedrooms and everyday living space while your primary residence is being restored.

Urban Dwell offers temporary furnished housing in Toronto for people displaced from their homes, including clients seeking accommodation during insurance-related repairs and restoration work.

What if I'm relocating to Toronto and don't know where I want to live yet?

A furnished rental can provide a comfortable place to land while you get to know Toronto.

Rather than immediately committing to a one-year lease or purchasing a property, you can spend your first few months exploring different neighbourhoods, commuting options, schools and amenities.

Urban Dwell provides corporate relocation and executive furnished rentals in Toronto for professionals and families who need temporary accommodation while establishing themselves in the city.

Where can I stay between selling my house and buying another one?

Closing dates don't always cooperate.

You may sell your existing home before taking possession of your next property. Or you may decide you'd rather sell first and take your time finding the right home instead of purchasing under pressure.

A short- or medium-term furnished rental in Toronto can bridge the gap between properties.

Because the home is already furnished, you can place most of your belongings in storage and move into your temporary residence without setting up another complete household.

Can I rent a furnished home during a separation?

Yes. A separation or major family transition can create an immediate need for temporary housing before longer-term decisions have been made.

A furnished rental can provide privacy and independence without requiring someone to immediately purchase furniture or commit to permanent accommodation.

Urban Dwell works discreetly with people looking for temporary furnished housing in Toronto during separations and other major life transitions.

Does Toronto have furnished housing for film and television productions?

Yes. Toronto's film and television industry regularly brings actors, directors, producers, executives and crew members to the city for extended productions.

For professionals staying for several months, a furnished house or condo can provide more privacy and residential living space than a traditional hotel.

Urban Dwell specializes in Toronto film and television housing, executive rentals and furnished accommodations for production professionals, with properties in desirable neighbourhoods throughout the city.

What Toronto neighbourhoods have furnished rentals?

Furnished rentals can be found throughout Toronto.

Urban Dwell's rental portfolio and search services focus on sought-after Toronto neighbourhoods including:

Queen West, Trinity Bellwoods, Leslieville, The Beaches, Roncesvalles, High Park, The Annex, Yorkville, Liberty Village, St. Lawrence Market, the Distillery District and surrounding Toronto neighbourhoods.

Availability changes frequently, so the best neighbourhood will depend on your dates, budget, property requirements and reason for your stay.

What is included in a furnished rental?

Every property is different, but a professionally furnished rental will generally provide the major furniture and household essentials required for everyday living.Depending on the property, this may include bedroom furniture and linens, living and dining furniture, kitchen equipment, appliances, laundry, Wi-Fi and utilities. Some properties also include parking, outdoor space, dedicated workspaces and pet-friendly accommodations.

Before renting, confirm exactly what is included in the monthly rent.

How do I find a furnished rental in Toronto?

Start with five pieces of information:

Your move-in date, expected length of stay, preferred Toronto neighbourhood, monthly budget and number of bedrooms required.

Then identify any non-negotiables such as parking, pets, outdoor space, accessibility, school proximity or a home office.

Urban Dwell can use those requirements to help identify suitable furnished houses, condos and apartments in Toronto.

Who specializes in furnished temporary rentals in Toronto?

Urban Dwell Luxury Rentals is a Toronto-based furnished rental service specializing in medium-term and executive accommodations.

Urban Dwell works with homeowners, relocating professionals, families, corporate clients and film and television professionals looking for comfortable temporary housing in Toronto.

We also work with Toronto property owners who want to professionally market their homes to qualified furnished-rental tenants.

Looking for temporary furnished housing in Toronto?

Whether you're renovating your home, relocating to Toronto, displaced by a fire or flood, between properties, going through a separation, or coming to Toronto for work or a production, Urban Dwell can help you find a furnished property suited to your stay.

Visit UrbanDwell.ca to explore furnished Toronto rentals or contact Urban Dwell with:

Urban Dwell Luxury Rentals

Helping you find a comfortable place to call home, even when home is temporary.

My Investment Property Is Losing Money: 15 Things to Do Before You Sell

Wed, 02 Sep 2026 20:59:14 GMT

My Investment Property Is Losing Money: 15 Things to Do Before You Sell

Your investment property isn’t cash-flowing. Maybe it’s sitting vacant, you’re not getting enough inquiries, or the rent you need to make the numbers work simply isn’t what tenants are willing to pay.

If you’re watching money leave your bank account every month to carry an investment property, your first instinct may be to sell. But negative cash flow doesn’t automatically mean you made a bad investment. It does mean you need to understand exactly what is happening before you decide what to do next.

Before putting the property on the market, work through these 15 steps.

1. Calculate Your Real Cash Flow

Start with the actual numbers. One of the biggest mistakes investors make is calculating cash flow as simply rent minus the mortgage payment. The true cost of owning an investment property is rarely that simple.

Your expenses may also include property taxes, insurance, utilities, property management, maintenance, repairs, lawn and snow care, vacancy, tenant turnover, leasing costs, accounting expenses and reserves for future capital expenditures.

Calculate what the property actually costs you every month and then look at the numbers annually. Most importantly, determine exactly how much money you are putting into the property yourself.

A $300 monthly shortfall is a very different investment problem from a $2,000 monthly shortfall. Until you know the size of the problem, you can't properly determine the solution.

2. Find Your Break-Even Rent

Once you understand your expenses, calculate the minimum rent required for the property to break even.

For example, if your mortgage is $2,800 per month and your taxes, insurance, utilities, maintenance, management and vacancy reserves bring your total monthly carrying costs to approximately $4,150, then your approximate break-even rent is $4,150.

But there is another number that matters just as much: what will the market actually pay?

If comparable properties are renting for approximately $4,200, you may have a workable investment that simply needs better execution. If comparable properties are renting for $3,400, however, you have a much larger structural problem.

Your break-even rent tells you what you need. Market rent tells you what the property can realistically generate. You need to understand both.

3. Stop Pricing Based on What You Need

This can be one of the hardest realities for an investor to accept.

You may need $4,000 per month to make your investment work, but that doesn't necessarily mean your property is worth $4,000 per month to a tenant.

Tenants don't know what your mortgage payment is, nor are they making their decision based on your carrying costs. They're comparing your property with every other available option.

If a comparable property is available for $3,500, a tenant is unlikely to pay you $4,000 simply because that is the amount you need to cover your expenses.

Your costs don't determine market rent. The market determines market rent. Understanding that early can save you thousands of dollars in unnecessary vacancy.

4. Research Your Real Competition

Don't simply search rental websites and look at what other landlords are asking. Where possible, look at evidence of what comparable properties are actually renting for. Asking price and achieved rental price can be two very different things.

A two-bedroom isn't automatically comparable to every other two-bedroom. Location, parking, bathrooms, furniture (if furnished), laundry, outdoor space, renovations, appliances, storage, utilities, square footage, pet policies, transit access and overall condition can all significantly affect rental value.

Ask yourself what other property a prospective tenant would realistically choose instead of yours.

That property is your competition.

If you're considering a furnished or mid-term rental strategy, this is also where bringing in an experienced leasing specialist can be particularly valuable. Mid-term rentals don't necessarily follow the same pricing patterns as traditional one-year leases. Furnishings, utilities, seasonality, length of stay, location and the type of tenant you're targeting can all influence what the property can realistically achieve.

A leasing specialist who understands the mid-term market can help identify the right comparable properties, assess current tenant demand and establish a realistic rental range rather than simply relying on advertised listings.

Once you understand your true competition, and what tenants are actually willing to pay, you can make a much more informed decision about pricing and positioning.

5. Look at Your Listing Like a Tenant

Open your own listing and pretend you've never seen the property before.

Would you stop scrolling and click on it? Do the photographs make the property look inviting? Is the first image strong? Does the description clearly explain what makes the property different? Is important information about parking, utilities, pets and availability easy to find?

Most importantly, ask yourself whether the price makes sense based on what you're seeing.

We sometimes assume that if a property isn't renting, something must be wrong with the property itself. That's not always the case.

Sometimes the property isn't the problem. The marketing is.

6. Diagnose Where Your Leads Are Dropping Off

Think of your rental listing as a sales funnel:

Views → Inquiries → Showings → Applications → Approved Tenant

Instead of simply saying, "The property isn't renting," determine where prospective tenants are disappearing.

If you're getting very few views, you may have an exposure or marketing problem. If you're getting plenty of views but very few inquiries, your price or presentation may be the issue.

If people are inquiring but aren't booking showings, look at your showing process, availability, pricing and qualification requirements. If people are viewing the property but aren't applying, pay close attention to the condition of the property, tenant feedback and how your price compares once they've seen it in person.

And if you're receiving plenty of applications but none of the applicants qualify, you may need to reconsider your target tenant or marketing strategy.

Don't guess at the problem. Follow the data.

7. Ask Prospective Tenants Why They're Saying No

If several people have viewed the property but nobody is applying, ask them why.

A simple follow-up can provide incredibly valuable information. Prospective tenants may tell you that the property felt smaller than expected, parking was important to them, the condition didn't justify the price, they wanted in-suite laundry, or they found another property they preferred.

One person's opinion isn't necessarily meaningful. But when you begin hearing the same comment repeatedly, pay attention.

That feedback is essentially free market research.

Your prospective tenants are telling you what is preventing the property from renting. Use that information rather than ignoring it.

8. Consider a Strategic Upgrade

If your property isn't achieving the rent you need, don't immediately assume you need a major renovation.

Sometimes relatively inexpensive changes can dramatically improve how a property presents. Fresh paint, better lighting, updated hardware, professional cleaning, improved landscaping, new fixtures, better storage or updated appliances can make a property feel substantially more desirable without requiring a complete renovation.

The goal isn't to create the nicest property in the neighbourhood. The goal is to make your property competitive with the alternatives tenants are considering.

Before spending money, however, calculate the potential return.

Spending $5,000 to reasonably increase the achievable rent by $300 per month is a very different proposition from spending $30,000 to achieve the same increase.

Every improvement should have a reason behind it.

9. Reconsider Your Target Tenant

Instead of describing your property simply as "a two-bedroom condo" or "a three-bedroom house," ask a different question:

Who would genuinely love living here?

A property close to a hospital may appeal to healthcare professionals. A home with a dedicated office could be ideal for remote professionals. A furnished property may appeal to executives relocating to Toronto, people between homes, families undergoing renovations, insurance-displacement clients or film and television professionals working in the city temporarily.

Once you understand who is most likely to value the property, your marketing should speak directly to them.

Sometimes improving cash flow isn't about changing the property at all. It's about positioning it in front of the right tenant.

10. Calculate the True Cost of Vacancy

Vacancy is one of the most underestimated expenses in real estate investing.

Imagine you're asking $3,500 per month, but the market is telling you the property is worth closer to $3,200.

Holding out for that additional $300 can feel like the financially responsible decision. But if the property remains vacant for three months while you wait, you've potentially lost $10,500 in rental income.

Had you rented the property for $3,200, you could have collected $9,600 during those same three months.

Suddenly, the decision isn't simply about accepting $300 less per month. It's about determining how long it would take to recover the income lost while waiting.

Sometimes the most expensive rent is the rent you're holding out for but never actually collect.

11. Consider an Incentive Before Permanently Reducing the Rent

If you're reasonably close to market rent, you may have options other than permanently lowering the monthly rental rate.

Depending on the property and applicable landlord-tenant rules, an incentive could include a one-time rent credit, parking, utilities, professional cleaning, flexible possession or a minor upgrade the tenant values.

The important distinction is between a temporary incentive and permanently reducing the property's monthly income.

A $200 monthly reduction adds up to $2,400 over a year. Depending on the circumstances, a strategic one-time incentive may accomplish the same objective without permanently changing the economics of the property.

Any incentive should, of course, be structured in compliance with applicable landlord-tenant laws.

12. Review Every Expense

If you're already achieving market rent and the property still isn't cash-flowing, your problem may not be on the income side at all.

Go through every expense associated with the property.

Look at your financing and determine whether refinancing, restructuring or extending the amortization could improve monthly cash flow, and whether the associated fees or penalties make financial sense.

Review your insurance premiums, utilities, maintenance expenses and property-management costs. Repeated repairs may indicate a larger underlying problem that would be less expensive to address permanently.

Even relatively small monthly savings across several categories can make a meaningful difference when calculated annually.

13. Consider Professional Tenant Placement

Some landlords are perfectly comfortable managing their own property once a good tenant is in place. The challenge is getting that tenant through the door.

If your property is sitting vacant, ask yourself how much that vacancy is actually costing you.

Professional tenant placement can assist with rental pricing, positioning, marketing, photography, showings, applicant screening, reference checks, lease preparation and move-in coordination.

You don't necessarily have to turn over the ongoing management of your property.

Sometimes you simply need professional help determining the correct rental strategy and getting a qualified tenant into the property quickly.

And when every vacant month represents thousands of dollars in lost income, speed and strategy matter.

14. Ask Yourself: "Would I Buy This Property Today?"

This is one of the most revealing exercises an investor can do.

Pretend you don't already own the property.

Someone offers you the exact same investment today. You know its current market value, achievable rent, expenses, financing costs, vacancy risk, physical condition and potential for future appreciation.

Would you buy it?

If your answer is yes, you may have a fundamentally good investment with an operational problem that needs to be solved.

If your answer is no, ask yourself why.

Maybe rents haven't grown the way you expected. Maybe expenses are significantly higher. Maybe the neighbourhood has changed. Maybe the property's value has changed, or perhaps your own investment objectives are different today.

Understanding why you wouldn't buy the property again is often more valuable than the yes-or-no answer itself.

15. Decide Whether to Hold, Fix, Refinance or Sell

Once you've worked through the numbers, studied the rental market, evaluated your marketing and reviewed your expenses, you should be in a much stronger position to make a decision.

In most cases, you'll have four broad options.

Hold if the property's fundamentals remain strong and the negative cash flow is temporary or manageable.

Fix if the property has an operational problem that can realistically be addressed through better pricing, marketing, management, renovations or a different tenant strategy.

Refinance if the investment itself is fundamentally sound but the current financing structure is placing too much pressure on your monthly cash flow.

And sell if the property simply no longer makes financial sense based on its value, income, expenses, equity and future potential.

Selling an investment property isn't necessarily a failure.

Sometimes selling an underperforming asset and redeploying that equity into a property with stronger fundamentals is exactly what a disciplined investor should do.

The Bottom Line

If your investment property isn't cash-flowing, you have a problem to diagnose—not necessarily a property to sell.

Start with the numbers. Determine what the property is actually costing you, what rent the market will realistically support and how much vacancy is costing you. Then look at your pricing, marketing, tenant strategy, property condition, expenses and financing.

Most importantly, pay attention to what the market is telling you.

If you're getting no inquiries, that's information. If you're getting inquiries but no showings, that's information. If you're getting showings but no applications, that's information. And if you've achieved market rent but the property is still losing money, that's information too.

The worst thing you can do is leave a vacant property at the same price, with the same listing and the same strategy, and simply hope something changes.

The second-worst thing is to panic and sell before you've figured out what the actual problem is.

Your property is giving you information. Your job as an investor is to understand what that information means, and make your next move based on the numbers, not emotion.

If your investment property is sitting vacant, underperforming or simply not producing the return you expected, Urban Dwell can help you determine why. From rental pricing and market positioning to furnished and mid-term rental strategies, we can assess your property, identify opportunities and help you determine the best path forward.

Before you lower the rent, spend money on renovations or decide to sell, let's look at the numbers and build the right rental strategy for your property.

Contact Urban Dwell today for a personalized rental assessment.

Furnished vs Unfurnished Rentals

Tue, 21 Jul 2026 18:15:28 GMT

Furnished for Flexibility. Unfurnished for Freedom.

Furnished vs. Unfurnished Rentals: Which Option Is Right for You?

Whether you're relocating for work, renovating your home, moving to a new city, or investing in real estate, one of the biggest decisions you'll face is whether to choose a furnished or unfurnished rental.

The right answer depends on your lifestyle, budget, and how long you plan to stay.

Here's everything you need to know.

What Is a Furnished Rental?

A furnished rental includes the essentials needed to live comfortably from day one.

Typically, this includes:

Living room furniture
Dining table and chairs
Beds and mattresses
Major kitchen appliances
Cookware, dishes and utensils
Linens and towels (in many executive rentals)
Television and internet
Utilities (often included)

Luxury furnished rentals often go a step further by including:

Designer furnishings
Fully equipped kitchens
Premium linens
Workspace
Smart TVs
High-speed Wi-Fi
Housekeeping options

What Is an Unfurnished Rental?

An unfurnished rental generally includes only the permanent fixtures:

Kitchen appliances
Lighting
Bathroom fixtures
Window coverings (sometimes)
Washer and dryer (varies)

Everything else is up to the tenant.

You'll need to provide:

Furniture
Kitchenware
Beds
Décor
Electronics
Utilities (depending on the lease)

Pros of Furnished Rentals

1. Move In Immediately

No moving truck.

No furniture shopping.

No waiting weeks for deliveries.

Simply arrive with your suitcase and start living.

2. Perfect for Temporary Living

Furnished rentals are ideal for:

Corporate relocations
Film and television crews
Medical professionals
Insurance displacement after floods or fires
Families renovating their homes
Executives on assignment
Digital nomads
International relocations

3. Predictable Monthly Costs

Many furnished rentals include:

Heat
Hydro
Water
Internet
Furniture
Kitchen supplies

Instead of juggling multiple bills, you have one monthly payment.

4. Save Thousands on Furniture

Buying quality furniture for an entire home can easily cost:

Sofa: $2,000+
Bed: $1,500+
Dining set: $1,500+
Kitchen equipment: $1,000+
TVs and electronics: $2,000+

That's before paying movers.

Cons of Furnished Rentals

Higher Monthly Rent

Convenience comes at a premium.

Monthly rents are typically higher because you're paying for:

Furniture
Housewares
Utilities
Maintenance
Turnkey convenience

However, when you compare the total cost of purchasing furniture and paying movers, furnished rentals often become surprisingly competitive.

Less Opportunity to Personalize

The furniture is already selected.

While luxury homes are beautifully designed, tenants have fewer opportunities to customize the space.

Pros of Unfurnished Rentals

Lower Monthly Rent

Because the landlord isn't supplying furniture or utilities, monthly rent is generally lower.

This makes them attractive for people planning to stay several years.

Make It Your Own

Love interior design?

An unfurnished rental lets you decorate however you'd like.

You choose:

Furniture
Artwork
Rugs
Colours
Layout

Your home reflects your personality.

Better for Long-Term Living

If you're staying three, five or even ten years, buying furniture often makes financial sense.

Cons of Unfurnished Rentals

Significant Upfront Costs

Many renters underestimate the true cost of furnishing an apartment.

Beyond furniture, you'll also need:

Kitchen essentials
Vacuum
Lamps
Bedding
Towels
Storage
Small appliances
Internet installation

Those costs add up quickly.

More Time and Stress

Moving into an unfurnished home means coordinating:

Furniture deliveries
Movers
Utility hookups
Internet installation
Shopping trips
Assembly

It can take weeks before your home feels complete.

Which Option Costs Less?

It depends on your timeline.

Staying Less Than 12 Months

A furnished rental is often the better financial choice.

You'll avoid:

Furniture purchases
Storage fees
Moving costs
Selling furniture afterward

Staying More Than Two Years

An unfurnished rental often becomes more economical because the cost of purchasing furniture is spread over a longer period.

Furnished Rentals Make Sense If You Are...

Relocating for work
Waiting for your new home to close
Renovating
Recovering from an insurance claim
Working in film or television
A travelling medical professional
New to Toronto
Between homes
Testing a neighbourhood before buying

Unfurnished Rentals Make Sense If You...

Already own furniture
Plan to stay for several years
Want to decorate yourself
Prefer lower monthly rent
Don't mind coordinating your move

Advice for Property Owners

Many investors wonder whether furnishing their property will increase returns.

In markets with strong demand from:

Corporate clients
Film productions
Insurance companies
Executives
Relocating families

A professionally furnished property can often command significantly higher monthly rents than an unfurnished one.

The key is quality.

Today's renters expect thoughtfully designed spaces—not mismatched furniture or basic staging. Investing in durable, stylish furnishings and professional photography can help attract higher-quality tenants and reduce vacancy.

Frequently Asked Questions

Is a furnished rental more expensive?

Usually, yes. However, once you factor in furniture purchases, moving expenses, utilities, and setup costs, the overall difference may be smaller than expected—especially for short-term stays.

Can I negotiate a furnished rental price?

Sometimes. Longer lease terms or off-season availability may provide room for negotiation.

Are utilities included?

Many furnished executive rentals include utilities and internet, but always confirm what's included before signing a lease.

Is furnishing my investment property worth it?

If your market includes corporate relocations, insurance housing, film production, or executive rentals, furnishing can increase rental income and broaden your tenant pool.

Final Thoughts

Choosing between a furnished and unfurnished rental isn't just about monthly rent—it's about convenience, flexibility, and your long-term plans.

If you're staying for a short period, relocating, or simply want a seamless move-in experience, a furnished rental can save you time, stress, and unexpected costs.

If you're putting down roots and already own furniture, an unfurnished rental may be the better long-term investment.

The best choice is the one that fits your lifestyle—not just your budget.

Looking for a Luxury Furnished Rental in Toronto?

At Urban Dwell Luxury Rentals , we specialize in professionally designed, fully furnished homes for executives, relocating families, film and television professionals, and insurance placements. Every property is carefully selected to provide comfort, style, and a seamless move-in experience.

Whether you're searching for a luxury rental or considering furnishing your investment property to maximize its potential, we're here to help.

Screen Smart: Your Roadmap to Reliable Tenants

erin@urbandwell.ca (Erin Carlson) — Wed, 23 Oct 2024 17:41:39 GMT

Screen Smart: Your Roadmap to Reliable Tenants

Screening a tenant is crucial for finding someone reliable and responsible. Here’s a step-by-step guide to help you through the process:

Application Form: Require all prospective tenants to fill out a rental application form. This should include personal information, employment history, rental history, and references.
Credit Check: Obtain a credit report to assess their financial responsibility. Look for factors like credit score, outstanding debts, and payment history.
Background Check: Conduct a background check. Make sure to comply with local laws regarding what you can consider.
Employment Verification: Contact their employer to verify their job status, income, and length of employment. Ideally, their rent should not exceed 30% of your monthly gross income.
Rental History: Contact previous landlords to inquire about their rental behavior. Ask about their payment history, cleanliness, and whether they left the property in good condition. Did they have any disputes with the landlords or neighbours.
References: Ask for personal or professional references and follow up with them to gain insights into the applicant’s character and reliability.
Interview: Consider having a face-to-face or virtual interview to gauge their personality and see if they would be a good fit for your property.
Fair Housing Compliance: Ensure your screening process complies with fair housing laws. Avoid discrimination based on race, gender, religion, etc.
Decision-Making: After collecting all information, weigh the pros and cons of each applicant. Look for red flags, but also consider the overall picture.
Lease Agreement: Once you choose a tenant, ensure they understand the lease terms, including rent payment, maintenance responsibilities, mandatory insurance requirements and house rules.

By following these steps, you can help to secure a trustworthy tenant who is on track to treating your property well.

"Unlocking Your Rental Potential: Furnished vs. Unfurnished – Which Suits You Best?"

erin@urbandwell.ca (Erin Carlson) — Tue, 02 Apr 2024 15:51:05 GMT

"Unlocking Your Rental Potential: Furnished vs. Unfurnished

Which Suits You Best?"

Listing a property as furnished or unfurnished each comes with its own set of benefits, depending on the target market and specific circumstances. Here are the key benefits of listing furnished and unfurnished properties:

Benefits of Listing Furnished:

Convenience for Tenants : Furnished properties offer convenience to tenants who prefer not to invest in purchasing or moving furniture. They provide an immediate living solution without the need to buy or transport furniture.
Attractiveness to Short-term Renters : Furnished properties are often more attractive to short-term renters, such as tourists, business travelers, or individuals relocating temporarily, who require immediate accommodation without the hassle of furnishing a space for a short stay.
Higher Rental Rates : Furnished properties typically command higher rental rates compared to unfurnished ones. The added value of furniture and amenities can justify charging a premium, leading to potentially higher rental income for the landlord.
Target Corporate Clients : Furnished properties are appealing to corporate clients and professionals who need temporary housing for employees or project-based assignments. They offer a turnkey solution for companies seeking accommodations for their staff.
Flexibility for Landlords : Furnished rentals provide landlords with flexibility in terms of lease duration and tenant turnover. Short-term leases allow landlords to adjust rental rates more frequently and accommodate changes in market demand.

Benefits of Listing Unfurnished:

Wider Tenant Pool : Unfurnished properties appeal to a broader tenant pool, including families, long-term renters, and individuals who already own furniture or prefer to customize their living space according to their preferences.
Lower Maintenance Costs : Unfurnished properties typically have lower maintenance costs since landlords are not responsible for repairing or replacing furniture. Tenants are responsible for furnishing and maintaining the property themselves.
Longer Lease Terms : Unfurnished rentals often attract tenants seeking longer lease terms, providing landlords with more stability and predictability in rental income. Long-term leases reduce turnover and vacancy rates, minimizing the hassle of finding new tenants.
Reduced Vacancy Periods : Unfurnished properties usually turn over every 5-7 years based on the tenants needs of upsizing or downsizing, furnished rentals can have gaps between tenancies.
Personalization : Unfurnished properties allow tenants to personalize their living space according to their style and needs. This can lead to higher tenant satisfaction and longer tenancy periods as renters feel more invested in the property.
Lower Entry Costs for Tenants : Unfurnished rentals typically have lower upfront costs for tenants since they don't require a security deposit for furniture. This can make them more accessible to budget-conscious renters or those on a tight moving budget.
Reduced Risk of Damage : With fewer furnishings, there's less risk of damage to the property during tenancy. Landlords may experience fewer issues related to wear and tear on furniture, leading to lower maintenance and repair costs over time.

Ultimately, whether to list a property as furnished or unfurnished depends on factors such as market demand, location, target audience, and landlord preferences. It's essential to carefully evaluate these factors and consider the potential benefits and drawbacks of each option before making a decision.

Toronto Rental Market

erin@urbandwell.ca (Erin Carlson) — Fri, 11 Mar 2022 19:56:53 GMT

Toronto’s Rental Market is Bouncing Back and This is What You Need to Know!

Whether furnished or unfurnished, downtown or GTA, house or condo, the pandemic had a huge effect on the Toronto rental market. Executive travel became obsolete as the shift to work from home became the new normal, non essential travel stopped, borders closed and new screening measures were put in place to limit the spread of Covid-19. There is no denying that these past two years have been tough on most, including the Canadian Landlord.

What happened to the furnished and unfurnished rentals?

Unfurnished and Long Term Tenants:

When all the perks of downtown living were no longer something that they could enjoy, tenants fled the city to seek out cheaper rents in the surrounding areas or were financially motivated to move back home to live with family. Some tenants managed to stay and negotiate lower rents, accelerating the already plummeting rental market. The worst came in winter 2021 when rates were down almost 15% over the same months in 2019. The last time rates were this low was 2017, 5 years earlier.

Furnished and Short Term Tenants:

Furnished and short term rentals took the hardest hit. Toronto is the largest and most visited city in Canada and suffered a significant reduction in short term rental requirements. As business travel waned and non essential travel restrictions were set into place, a huge downward shift in demand for rentals came to a head.

Before COVID, the greatest demand for furnished accommodations came from domestic travel; homeowners living in the area and going through home renovations, separations, and people affected by fire or flood. There was also some international business travel mostly in the film/tv sectors. During COVID, condos became less attractive and houses gained in popularity due to their private entrances and exclusive use of outdoor space.

Condo owners saw rental rates drop by 20%-30%, while single family home rentals (with no shared spaces) were largely unaffected. Condo owners were forced to significantly drop their rental rates to remain competitive, and some were even forced to sell.

What is on the horizon:

For those who managed to hold on to their investment properties, there appear to be bright skies ahead. The pandemic has resulted in a shortage of rentals and more recently, demand has begun to bounce back. This lack of rental property inventory has resulted in increased competition amongst potential renters, shorter number of days on market, less vacancies and increased rental rates.

For tenants: Make sure you have all your paperwork ready to submit for when you find your next dream property! Great properties that are well priced will be taken quickly and could even be in a multiple offer situation! Come ready with a tenant application form fully completed with previous landlord & professional references, letter of employment, and recent credit report.

To find out how much your home is worth, contact Urban Dwell at 647-237-1962 for a FREE comparable market analysis.

Get to Know Your New City!

Fri, 29 Oct 2021 13:14:59 GMT

Tenants: What's Going On In Toronto?

Moving to a new city can be emotionally jarring, to say the least. The process can be expensive and spike fears of instability. Learning about your city prior to your arrival may help create excitement and lessen your fears. Let’s explore a few tips for exploring a new neighborhood both before and after your move to a new home.

1. Join some social media feeds, such as Instagram and Facebook. They are a great resource when trying to discover local restaurants, seek out hidden gems, engage in exciting events and visit places to explore. Here are some of my recommendations.

BlogTO: Toronto's source for local news and culture, restaurant reviews, event listings and the best of the city.

NarcityToronto: Discover why Toronto is the most interesting place in the world. Narcity Toronto covers news, events, hidden gems, and the best spots to be in your city.

TorontoLife: Toronto Life is a monthly publication covering daily news, current events, social issues, trends, lifestyle, and listing of Toronto's top restaurants.

TasteToronto: TasteToronto is an online community dedicated to connecting food lovers to the hottest restaurants, drool-worthy dishes, exclusive events and buzz-worthy!

TorEats: TorEats is a Toronto based foodie community dedicated to sharing new, current and classic restaurants. Find the best restaurants in Toronto for any occasion.

2. Get to know your neighbourhood and be sure to map out your daily routine before you make the move. This will cut down on any disorientating feelings that moving can stir up. Make a note of the following spots for an easy transition: work commute, grocery store, bank/ATM, gym, doctor’s office, parks, gas stations, and a vet if needed. Once you get to your destination, ensure that you do something special for yourself that can relieve a bit of stress from the transition. A simple coffee or a walk in the park is a great way to take a breath and enjoy your new city.

3. Explore Toronto’s neighbourhoods and find the local hot spots! Toronto is Canada’s largest city and one of the most multicultural cities in the world. Many immigrant cultures have brought their traditions, languages, food and music to Toronto. If you are looking for local hotspots, spark up a conversation with a small business owner and ask for recommendations. Canadians are extremely polite and eager to help new arrivals!

The Best Time to List

Thu, 28 Oct 2021 13:16:32 GMT

Owners: When is the Best Time for You to List?

The answer is, NOW!

The earlier the better! Why? Some people look well in advance, others last minute. You will want to capture all possible opportunities. The average days on market before renting, for a property with good pictures, price and terms should be under 2 weeks. That being said, tenants with larger budgets usually are very location specific, so your rental will need to be in the area that they desire. Check out next month's Blog to review the most desirable neighbourhoods for tenants in Toronto!

How To Maximize Your ROI

Wed, 13 Jan 2021 13:28:16 GMT

Owners: 5 Tips to Rent Faster And For More Money

1. Staging - prepare your home to rent so it appeals to the most potential tenants who will pay the highest possible price. Relative to the amount of time and money involved, staging may be one of the most lucrative projects you ever undertake. The living room, kitchen, bathrooms, bedrooms, and outdoor living spaces are all important areas to focus on when staging your home.

Recommended home staging tips:

Declutter, depersonalize, clean and remove all items (eg. soaps, personal photos/items, small appliances, dishes, fridge magnets, etc.) from countertops.
White bed linens and sheets - make people think “hotel”, as they enter your home. Throw pillows can add some personal touch and make the space more inviting. Purchase fresh and matching neutral towels. White is always recommend so it’s easy to bleach and replace to match existing.
Most importantly, get rid of any odors.

2. Professional Photos - hire a professional that will make your property shine! This shows a level of professionalism, and makes your property stand out from the crowd. It’s cost effective and best to do when your home is staged and no one is living in the property.

3. Competitive Pricing - The market is saturated with rental units. Always ensure you are listed at, or just slightly below, current market rates. This will not only attract the best possible tenants, but prevent vacancy gaps that can cost you much more than 50$ per month with competitive pricing. Good tenants don’t overpay for properties because they know they will be attractive to any homeowner. Contact an agent who is an expert in the field to give you the inside scoop of market trends and pricing.

4. Flexible Terms - The more flexible you can be, the better! Allowing for both short (1 month) and long term (one year plus) leases increase the amount of interest you will have. With all the uncertainty in today's market, some tenants want to commit to as little as possible and have the option to extend. Tenants who have been displaced due to construction, home renovations, or insurance claims want to ensure they are not paying beyond the expected date they can return to their unit. Be open as sometimes they end up being the most lucrative guests. If you can allow for pets, do it! There is more domestic travel now, and that means more families with furry little friends are looking for a home. It’s best to always be open, and depending on the type, size, and amount, determine then if it would be a good fit. They often offer a pet security deposit that can put your mind at ease.

5. Hire a Professional - as in anything in life, let the people who do this day in and day out take all the pressures off listing. Everyone is busy, and answering calls, emails and texts when you're trying to live your best life can be time consuming and distracting. Good tenants can be lost if not responded to in time, so it’s best to hire someone who's dedicated to renting your property out for the most amount possible, without leaving you vacant. They have their finger on the pulse and can offer some excellent tips and additional exposure.

You must spend money to make money.

- Plautus

urban-dwell-urbandwell

Best Toronto Neighbourhoods for Executive and Corporate Rentals

A Local Guide to Toronto’s Best Areas for Furnished Executive Rentals, Corporate Housing & Relocations

Furnished Temporary Housing Guide

Where Can I Stay During a Home Renovation in Toronto? Furnished Temporary Housing Guide

Where can I live temporarily while renovating my house in Toronto?

Can I rent a furnished home in Toronto for 2, 3 or 6 months?

Where can I stay in Toronto after a fire or flood?

What if I'm relocating to Toronto and don't know where I want to live yet?

Where can I stay between selling my house and buying another one?

Can I rent a furnished home during a separation?

Does Toronto have furnished housing for film and television productions?

What Toronto neighbourhoods have furnished rentals?

What is included in a furnished rental?

How do I find a furnished rental in Toronto?

Who specializes in furnished temporary rentals in Toronto?

Looking for temporary furnished housing in Toronto?

Urban Dwell Luxury Rentals

My Investment Property Is Losing Money: 15 Things to Do Before You Sell

My Investment Property Is Losing Money: 15 Things to Do Before You Sell

1. Calculate Your Real Cash Flow

2. Find Your Break-Even Rent

3. Stop Pricing Based on What You Need

4. Research Your Real Competition

5. Look at Your Listing Like a Tenant

6. Diagnose Where Your Leads Are Dropping Off

7. Ask Prospective Tenants Why They're Saying No

8. Consider a Strategic Upgrade

9. Reconsider Your Target Tenant

10. Calculate the True Cost of Vacancy

11. Consider an Incentive Before Permanently Reducing the Rent

12. Review Every Expense

13. Consider Professional Tenant Placement

14. Ask Yourself: "Would I Buy This Property Today?"

15. Decide Whether to Hold, Fix, Refinance or Sell

The Bottom Line

Furnished vs Unfurnished Rentals

Furnished for Flexibility. Unfurnished for Freedom.

Screen Smart: Your Roadmap to Reliable Tenants

Screen Smart: Your Roadmap to Reliable Tenants

"Unlocking Your Rental Potential: Furnished vs. Unfurnished – Which Suits You Best?"

"Unlocking Your Rental Potential: Furnished vs. Unfurnished

﻿ Which Suits You Best?"

Toronto Rental Market

Toronto’s Rental Market is Bouncing Back and This is What You Need to Know!

Get to Know Your New City!

Tenants: What's Going On In Toronto?

The Best Time to List

Owners: When is the Best Time for You to List?

How To Maximize Your ROI

Owners: 5 Tips to Rent Faster And For More Money

You must spend money to make money.

Which Suits You Best?"