The rental housing market in Toronto is certifiably insane right now. It was admitedly a bit crazy when the average renting cost in Toronto rose to over $2200 a month in Toronto, but this latest listing puts it over the edge.
According to a new Kijiji listing, a Toronto resident is offering to rent out his couch (and nothing else) for anyone looking for a place to sleep dowtown for $1400. That's right, you can actually pay $1400 a month to sleep on a guy's couch in Toronto.
In the listing, the resident says that their apartment offers great CN tower views and is right downtown. The address listed is 12 York Street. While that could sound great, let's keep in mind that the price only includes a couch to sleep on. No storage, no privacy - just a couch, and it doesn't even look that comfortable.
Obviously this isn't a long term renting solution. The couch is just being offered on a short term basis. For the entire month of December, it could be yours for $1400 but if you're only looking for a place for a week you could sleep on his couch for $500 a week or even for $75 a night. Even then, those rates are ridiculous.
The saddest part of all of it is that people who caught wind of the ad on Reddit aren't at all surprised. Many say it's a simply a sad truth about the state of renting in the city.
Others go on to blame the amount of luxury condos in the city for driving up rent prices and say there aren't enough average buildings being built. Some even joke that $1400 for a sofa is actually a great deal or that they're looking forward to being homeless.
This isn't the first time this Toronto resident has tried to list his couch on Kijiji. Three weeks ago he listed the couch for $100 a night. So technically, now at only $75 a night, it's a good deal!