May 2017
Rentals in condo buildings can be managed to reduce the complaints of condo resident owners.
Condo buildings with easy access to transit can house a large number of university and college students. It is common for these students to sign short-term leases. They tend to be noisier than older tenants, and may have less concern about disturbing neighbours.
There are also a larger number of move-ins and move-outs at the beginning and end of each academic year. This can result in more damage, less access to elevators and more discarded items.
Developers are now developing condo buildings better suited for rental and short-term use. Some are providing furnished suites and housekeeping services. They may also include property management services that will find renters and manage rentals on behalf of condo owners.
Some may view this as a solution to problems associated with short-term rental of condo suites. Alternatively, this may result in fewer students interested in residing in traditional condo buildings, possibly requiring rent reductions among condo suites.
