The Toronto Condo Market Will Continue to Be Hot in 2020

Posted on January 10, 2020 by pmtadmin

The last decade has been very good for the Toronto condominium market. After the housing crash in the United States in 2009, things looked unsteady. But the market was more resilient than analysts realized as over 15,000 condos sold in 2009.

As consumer confidence gained, so did the sales, which nearly doubled in 2011. While there was a slow-down during the next few years, the market came back in strongly in 2015 and hasn’t looked back. Just in 2017, there was a sharp gain of 35 percent and the market has been relatively steady since.  

At Property Management Toronto, we’re Toronto’s top property management company, specializing in townhomes, homes and condos. We have over 25 years of experience in real estate and expect the condominium market to continue to be strong in 2020. Here are a few reasons why you should consider investing in the Toronto condominium market this year:

#1 High Demand

It’s no secret that Toronto is the fastest growing city in the country. More newcomers come to metropolis for jobs and business opportunities. They stay for the culture, facilities, schools, security, and more. This will continue to be the trend in 2020. You can expect demand to grow.

As Toronto property investment experts – we feel that condos are an excellent investment for you, whether you’re interested in renting out your unit or want your property to grow in value. Our experienced real estate team can guide you through the buying and selling process, help you understand the condo real estate market and make informed decisions that will maximize your investment. 

  • We can help you locate a great condo that fits your budget, meets your needs, and is in the right neighbourhood
  • We will assess and inspect the property and help you negotiate a fair price
  • We are detail-oriented and will safely walk you through all the paperwork
  • If you’re a non-resident investor, we will help you with documents such as NR4 and NR6
  • Our friendly and professional staff is always happy to address any questions or concerns

#2 They Are a Great Place to Live

Many young responsible renters like living in condos because it suits their lifestyle. Likewise, condos are a good investment as a second home. Many investors buy a condo a decade or so before retirement and rent it out until they’re ready to move in. There are many advantages to condo living:

  • Centrally Located: Condos are often built conveniently close to parks, restaurants, museums, schools, colleges, universities, and other businesses. By using the map feature on our website, you can see what’s near your potential future home.
  • Public Transport: Not only are condos close to businesses but they’re also near bus stops and subway stations. Many condo residents don’t have to worry about the multiple expenses of owning a car because of these conveniences.
  • Environmentally Friendly: Many condos have sustainable energy-efficient designs, resulting in lower energy bills for residents. Condos are also eco-friendly because residents walk or use public transport instead of relying on private vehicles.
  • Security: Although Toronto is one of the safest big cities in the world, it still has big-city issues. Fortunately, most condos have an around-the-clock concierge at the desk, electronic entry-phone systems, and camera surveillance. Residents are also close to neighbours in case of emergencies.
  • Amenities: Modern condos have some first-class amenities, such as a swimming pool, gym, outdoor terrace, party room, whirlpool, game room, and more. You can check what sort of amenities Toronto condos have on our properties page.
  • Socializing: One of the biggest perks of living in a condo is the ability to socialize. Condos have many common areas where residents can befriend their neighbours, such as a party room or a rooftop patio.

Because they’re a great place to live, condos are always in demand from renters. But one of the biggest concerns rental property owners have is matching with a renter who will pay rent on time and respect the property.

At Property Management Toronto, we have an excellent tenant screening process. We only find A+ renters by running a detailed background check. We do credit checks, background checks, and employment checks. Our vetting specialist has a degree in criminology, so you can avoid matching with an undesirable renter.

You can rent it out furnished or unfurnished using our condo services in Toronto. If your condo is furnished and centrally located, then you’ll find that it can rent out very quickly. You can also get a short-term renter with a furnished condo if you’re going away temporarily. A furnished rental also allows for more tax write-off opportunities. On the other hand, a furnished rental has higher insurance premiums and can be more expensive for a landlord.

As the leading condo rental agent in the city, we also help trustworthy and reliable tenants match with A+ rental properties by offering a comprehensive rental properties page that features many details and the best properties. Moreover, we provide 24/7 support to tenants, including repair requests for their peace of mind. We believe that a happy tenant will result in good tenancy.

#3 Excellent Property Management Options

Although many investors are enticed by the lucrative nature of the Toronto condominium market, some are afraid to take the plunge because they don’t have the experience or the time to manage a property. Fortunately, a company like Property Management Toronto can manage your investment, allowing you to sit back, relax and enjoy the fruits of your capital. Our rates are competitive, all-inclusive, and we do the heavy lifting.  

As Toronto’s leader in condo property management – not only do we offer great tenant selection, but we also offer marketing, property management reporting, real estate consulting, and 24/7 support. We will help you prepare legal documents and we can also collect rent.

What’s more, we’re available all day, every day of the week, including evenings, weekends, and holidays to provide you and your tenant peace of mind with professional, friendly, and quick service. You don’t even have to worry about maintenance requests. Through our website, a tenant can ask for fast help with electrical, heating, plumbing, appliance, or general issues.

So, get in touch with us today. You can send us an email, fax, or give us a call using the information on our website. You can also connect with us on social media. We provide excellent customer service and have the five-star Google reviews to prove it.