"Live rent-free until 2021" and other move-in incentives being offered in Toronto
Toronto continues to be one of the most expensive cities to live in, but the pandemic has resulted in more rental units becoming available.
The average level of rental apartments under construction in 2020 is higher than any time over the last 30 years, according to the latest TorontoRentals.com and Bullpen Research & Consulting Toronto and GTA rent report. More than 57,000 condo apartment units were under construction in the GTA at the end of September 2020 – a 5% year over year increase.
“Many of these apartments will be completed in 2021 and 2022, and will continue to add to the supply, which could keep rents lower if a vaccine is not approved during that time,” according to the reports.
The average rent in the GTA has been dropping for the last 10 months, and is currently 13% lower than it was in September 2019.
If you’re looking to take advantage of the saturated rental market, here are 12 apartments in Toronto that are currently offering move-in incentives, according to rentals.ca:
100 Wellesley Street East
Live rent-free until 2021 at 100 Wellesley Street East, conditions apply.
77 Huntley Street
Live rent-free until 2021 at 77 Huntley Street, conditions apply.
61 Yorkville Avenue
Move in by December 15th and get one month of free rent at 61 Yorkville Avenue.
90 Adelaide Street East
Get $500 off your first month’s rent.
150 Roehampton Avenue
Move in by December 15 and get one and a half months rent free at 150 Roehampton Avenue.
221 and 265 Balliol Street
Get one month’s rent free at 221 and 265 Balliol Street.
20 Carlton and 25 Wood Street
Get one month’s rent free for a bachelor apartment at 20 Carlton and 25 Wood Street.
230 Oak Street
Get up to one month of free rent, up to six months free parking, and one month of a free locker at 20 Oak Street.
160 Huron Street
Get one month of free rent at 160 Huron Street.
368 Eglinton Avenue East
Get a $500 move-in bonus at 368 Eglinton Avenue East.
2 The Donway East
Get one month of free rent until October 31 at 2 The Donway East.
798 Richmond Street West
Get one month of free rent and up to four months free parking at 798 Richmond Street West.