More than a million Canadians are paying too much for rent. This includes the 23 per cent of Greater Toronto Area residents who put more than half of their income towards rent, according to a recent study.
But it’s unlikely that whoever rents the following homes — some of the most expensive for lease in the city — will sweat making their monthly payments.
Take a look at a few of the most expensive rental properties Toronto has to offer:
155 Yorkville Ave., Penthouse 1
Monthly rent: $25,000
Steps from the so-called Mink Mile, the super posh stretch of Bloor Street West that runs from Yonge Street to Avenue Road, the Residences of Yorkville Plaza Condos soars 32-storeys. Its penthouse, unsurprisingly, comes with a high-flying lease (and two parking spots).
The four-bedroom, approximately 4,600-square-foot suite, has no shortage of space. Every bedroom has its own ensuite, and there was still space in the floorplan for a separate family room and 220-square-foot terrace.
18 Forest Hill Rd.
Monthly rent: $15,000
On a quiet side street right by St. Clair Avenue West and Avenue Road, a sprawling six-bedroom house is available for rent. Its monthly rent is equivalent to a downpayment for a home in another province.
The stately home’s interior is anything but cookie-cutter and features intricate millwork and wood panels. The garage has room for only two cars, which may be an issue for a bigger family, but the driveway probably has room for another eight.
64 Woodlawn Ave. W.
Monthly rent: $14,000
Within its walls, this updated brick home in Summerhill includes condo-like amenities, such as a personal gym, library, and steam bath.
Unlike a condo, though, the tenants won’t need to book a party room for a large gathering. The listing suggests this six-bedroom home’s open-concept main floor with chef’s kitchen was designed for entertaining.
9 Roxborough St. W.
Monthly rent: $10,500
If you can’t afford to purchase a home smack dab in Rosedale, one of the city’s wealthiest neighbourhoods, 9 Roxborough could be for you.
The four-bedroom home comes furnished and boasts luxe perks, including heated floors, a hot tub, and a stone patio out back. On the third floor, there’s a unique loft space with vaulted ceilings.
180 University Ave., Unit 5303
Monthly rent: $10,500
Living in a hotel can be costly. Just ask Mean Girls star Lindsay Lohan, who apparently racked up tens of thousands of dollars on her tab at the Chateau Marmont in L.A.
Renting a unit in the Shangri-La hotel and condo doesn’t come cheap either. A year lease on this unit would be in the six-figure range. But the tenants get a two-bedroom suite with more than 2,000-square-feet of living space, plus access to an on-site gym, pool, hot tub, sauna, hair salon, steam room, and yes — room service.
468 Wellington St. W.
Monthly rent: $20,000
This killer loft has received a lot of attention. Boasting five bedrooms, two kitchens, and a pair of living rooms, the 5,200-square-foot unit is also very family friendly — something that can’t be said about every loft. Currently, a family of four is living in the unit, but soon moving out.
And because the red-brick building in which the loft is located has only 10 residences, this unit could also appeal to high-profile renters, maybe a touring artist or actor in town for a shoot who is looking to stay under the radar.