Some people will contact me occasionally because of the business I am in and also because they know how much my family has invested in real estate. I wouldn’t say that I’m an expert, I’m not a broker or an agent, but I have worked in the hotel industry, I’ve bought and sold properties for over 25+ years, and run a reasonably successful cottage rental. These are people who are looking for a short term solution in a big city problem: Metro Rentals. That’s what I call them. “METRO RENTALS”…. they are not a hotel, not a permanent apartment or home, but a short term solution to a very large and expensive dilemma, generally located in very large Metropolis sites, like Toronto, Montreal, Vancouver. Often they are a lot more affordable and offer a better value than large impersonal hotels.
Ever find yourself in need of out-patient care? Are you working for a trade and need a place to crash for two weeks while you finish a project? Are you teaching at a downtown university location and need a place for a few weeks? Have you bought a house and sold yours and the timing is 3 weeks off? Have you been interviewing and just not found the right job yet? Are you looking to make a move but want to see what the core city is like before you buy or sign a lengthy lease? Are you in need of some R&R and really don’t feel like the beach, but something artistic and culinary?
There are so many different situations that come up when you are city folk and need a temporary solution that suits your needs and your budget. There are condo rentals that do just that. Like a regular home, a vacation rentals do not always have to be cottages, chalets, or beach houses. They can also be lovely, modern condos in the heart of the noise and hustle of downtown life. They have linens and updated décor. They have complete kitchens, top of the line electronics, and cover off whatever your needs are for the time you are staying. Some of them even have gyms and concierge. Cost??? Well like any vacation rental do your homework and research with your budget in mind. By taking away the need to eat out, and pay daily hotel rates, you can negotiate two or three week terms that work within your budget, pop into the grocery store, and park in the underground for free. So there are ways to find the right Metro Rental. You can even look at renting just a room in a Condo that has an owner who works opposing schedules to your own. You never see each other and it’s kind of like having the whole piece of real estate without paying the whole price.
Hotel rates in downtown Toronto or Montreal could run you as high as 300 or 350 per night. No joke. And these are nice but certainly not luxury hotels. Some snowbirds who travel south in the winter will look for ways to increase their revenue and at the same recoup their “Metro” costs, they could rent out their units through a site or service for under 75 per day. For a business man looking to close a deal and covering his own expenses to break out on his own, that’s a bargain and a solid investment plan. Some people who live in the small towns and are looking to spend a week in the city to catch some shows, eat some lovely meals out, bask in the hot tub and use the gym will look at the Metro Rental as a great way to take a vacation without really leaving the province….”staycation” at a Metro Rental.
What a novel idea!