TORONTO — As rents rise across Canada, Toronto Don Valley Hotel and Suites is offering monthly stays for $2,000, about $600 less than the average one-bedroom apartment in the city.
October marked the sixth-consecutive month of record-high rental rates across Canada, according to the November report from Rentals.ca. Nationally, rental units across Canada averaged $2,178 in October, a $175 increase over six months. Canada’s five most expensive cities to rent are Vancouver, Burnaby, B.C., Toronto, Oakville, Ont. and Mississauga, Ont.
Guests at Toronto Don Valley Hotel and Suites are not subject to background or credit checks but must pay a refundable $500 deposit. General manager Kevin Porter told CTV News Toronto that 60 of the hotel’s 250 rooms are available at the monthly rate and 18 of the units are currently occupied.
The rooms are standard, with a bed, bathroom, microwave and mini-fridge, while Wi-Fi, parking and cable television are included. Guests can also make use of the hotel’s gym and indoor pool.
