The story of Torontonians and their endless battle to find a decently priced place to rent in the city is one that seems like it's never going to end. Regardless of forecasters claiming the current housing bubble will eventually break, the idea of rent being below $1200 for a one bedroom downtown is wishful thinking at this point. And if there is anything this market has caused, it's renters charging outrageous prices for ridiculously underwhelming units.
The latest offender is a unit over at 40 Beaty Avenue that has been listed on Padmapper. The "bachelor suite" is listed as a studio apartment with 24-hour surveillance, is pet-friendly and carpet free, and has a modern kitchen and bathroom.
All of that sounds great at first until you realize that the unit space is 200 square feet. The renter of the "micro suite" is asking for between $1425 and $1465 a month for a year's lease.
No, that's no typo - this unit's size is comparable to a generous closet, or a single car garage. The only thing more horrifying than the numbers themselves are seeing just how small the space is in photos:
Clearly, the ridiculous rates prospective Toronto tenants are facing have hit a new high. Even with new apartments popping up every few months, it seems that no amount of extra units are levelling out rent prices. If you were thinking maybe it's time to consider areas outside of Toronto, you won't get much relief there, either -rent is rising in the areas surrounding the city as well.
If this micro-bachelor gets snatched up quick, it'll be a good indicator of how depressing Toronto's rental housing market has truly become. If someone actually ends up buying this unit for what it's priced at right now, you're probably better off pitching a tent in Trinity Bellwoods as your new residence.