In the latest crazy rental market news, you can now rent closet-sized apartments in Toronto's newest condo building. The building is called Smart House and focuses on compact living, with some units less than 300 square feet big. For reference that's roughly the size of a shipping container.
The Smart House is located right at Queen and University. According to their website, they offer "a life of no clutter. No excess. A place to live for all those who love a clean and streamlined life and the notion of small but well-thought-out space."
They also boast that their condos are designed to feel large with various smart features. These include kitchens that are super compact but maximized for ultimate storage, islands that serve as your dining table, sofas that convert into beds, and several built-in drawers and shelves for storage.
The condo also focuses on amenities like a large communal outdoor terrace, kitchen and lounge spaces, and a fitness facility with a few cardio machines, weights, and space for yoga or floor exercises.
It's not a bad location either. The condo is right by the subway and in the heart of downtown, meaning your commute would be really short and easy. The prime location and features make this condo sound amazing but don't forget the major drawback, the units are literally the size of closets.
The smallest unit in the building is 289 square feet. Based on the floorplan, it really is as small as it sounds.
The one-room living space includes a small kitchen island that's only a few feet away from the edge of the bed. Fortunately, the bed turns into a sofa, so you can save a bit of space during the day.
That's the smallest unit but even their one-bedrooms aren't much bigger. At only 350 square feet you can barely even call it a one-bedroom. That's because there aren't any actually doors, just a partial wall dividing the kitchen area and "bedroom."
The other catch is the price. Now that the condo is open a few of these units have been listed on sites like Kijiji. The "one-bedroom" apartments with this layout range from $1600 to $2000 per month for rent.
There are also some of these units listed for sale on Kijiji. Compared to other condos in Toronto, these units are actually pretty affordable at $450,000 to $500,000, but keep in mind that much money could get you a massive house in other parts of Ontario.