What Times Call For Short-Term Rentals in Toronto?

The next time you’re browsing the Toronto real estate market, think about how long you need your new accommodation for. Unless it’s a truly long-term stay, it’s worth looking at the short-term rental market in Toronto for potential savings while still retaining the benefits of a fully-furnished living space.

Many property renters think that short-term accommodations are just a niche market and aren’t aware of the many use cases of such a rental. In truth, it’s an incredibly lucrative market that offers the perfect balance between cost and quality for certain situations.

Don’t dismiss the possibility of getting a great experience from a short-term rental, which can offer significantly more flexibility compared to a standard hotel. 

Let’s talk about some use cases for short-term rentals in Toronto and when exactly you would need one.

Why Short-Term At All?

Short-term stays are popular with many renters in the city, who flock to these locations for several reasons:

• The ubiquity of smartphones and the Internet have enabled a massive market for short-term listings, especially in major cities like Toronto.
• The result is a large selection to choose from, ensuring that you will likely find exactly what you want.
• Because the spaces are fully-furnished, it will feel more like home as opposed to other temporary rentals.
• They save money in the long run compared to hotels which charge by the day. Booking a short-term rental is easy as well.

A short-term accommodation makes sense when other options are either too expensive or insufficiently furnished for your needs. This setup is also ideal for providers of the rental properties, who have more flexibility when it comes to scheduling and maintenance. You won’t have issues finding a suitable location in Toronto as a result.

Specific Use Cases For Short-Term Rentals in Toronto

What are some situations that call for short-term rentals? There are many instances when you need a place to stay without the heavy commitment of a long-term home or apartment. At the same time, perhaps a hotel room that charges by the day doesn’t make financial sense, and you need something a little more professional than just someone’s private room.

There are no limitations to what role a short-term rental can fulfill, so don’t be afraid to consult this market if you feel like your specific case calls for one. However, some examples to get started include business trips, immigration, holidays, moving between houses, and disaster recovery.

Business Trips

Because Toronto is considered an economic hub for Canada, the most common reason people stay in the city is business trips. With the city’s high property prices, going short-term is often the best decision.

Many companies host meetings and events in the city, resulting in many professionals living in Toronto for a few months. Fully-furnished short-term rental spaces are there to serve their needs.

Immigration

For similar reasons to business trips, Canada is a common destination for foreign immigrants thanks to the business opportunities and available space in the nation. Short-term rentals work well in this case since you have the chance to learn about your local area and complete any paperwork before you find more permanent housing.

The flexibility of this type of accommodation goes into play significantly here. When you haven’t entirely figured out your general working and living situation, look to the short-term market for answers. You’ll be glad you did.

Holidays

A short-term rental that lasts a few weeks or months is often an excellent alternative to hotels for long-distance tourism. Instead of allowing the high rates of hotels to eat into the travel budget, many vacationers choose a short-term rental instead.

While Moving

When it comes to selling and buying a new home, you can’t always line up the dates perfectly. There’s likely an amount of time after you’ve sold the old property and before you can move into your new one.

In this case, the short-term rental market is the perfect way to fill the gap. You don’t even have to move all your belongings in either, since most furniture is already available at the temporary location.

Disaster Recovery

While we don’t want to think about it, we have to plan for major incidents like house fires or natural disasters. While you’re looking to repair or replace your old home, a short-term rental works as a cheaper alternative to hotels for a few months.

Furnished Short-Term Rentals From DelSuites

Whether you need a short-term condo or corporate housing for your business travel, find your perfect temporary home in one of Canada’s leading cities for business, entertainment, and culture.

Interested in a short-term accommodation but not sure where to start in Toronto’s massive property market? DelSuites can help you find exactly what you need. Get in touch with us today and find out why so many of our reviewers recommend our services.