May 8, 2008 — TREB Members reported 1,108,430 square feet of space leased through the TorontoMLS system, up four per cent over April of 2007, Commercial Council Chair Garry Lander announced today. “This figure is also up 19 per cent over the March figure of 933,299, and in fact makes April’s the best monthly performance of 2008.”
In April, the price for Industrial space (all size categories) declined six per cent to $5.43 sfn from last April’s figure of $5.76 sfn. Commercial space (all size categories) averaged $14.91 sfn, down nine per cent from last April’s $16.41 sfn.
Sales Market Highlights
In April, TREB Members recorded 58 sales of Industrial/Commercial Properties. Of these, 39 were industrial properties of all size categories, which transacted for an average of $87.04 per square foot. This compares to a figure of $101.59 per square foot from non-MLS® sources, which reported the sale of a number of unusually expensive Industrial properties in April.
Source: TREB (Toronto Real Estate Board)
Are you looking to lease a condo in Toronto? Quality apartments do not last long, You need to be prepared with the following items to improve your chances being accepted as a tenant. You should have these ready before even looking at condos.
- Letter of Employment – You need to get a letter of employment from your employer. The letter should state how long you have worked there and your current salary.
- Credit Report. – You will need to have a recent credit report. You can get it instantly on-line via www.equifax.ca or via www.transunion.ca. You want the full report and credit score.
- Rental Application – You will need to fill in the rental application form. The rental application is a standard OREA (Ontario Real Estate Association) form. I can email you a .pdf file that allows you to type on it or I can give you a copy when we meet for the first time for a showing.
After you are accepted as a tenant, you will need to do the following:
- Provide a certified cheque or bank draft for the first and last month deposit, this has to be done the next business day.
- Provide a key deposit (not a set amount, each lease will have its own amount)
- Get a standard tenant insurance package.
- For your convenience you should also be prepared with 10 postdated cheques for the first year of the lease.
Steven Campbell, Sales Representative
Forest Hill Real Estate Inc., Brokerage
Fill in the form below for a list or condos available to Buy or Rent sent to your email.