The Benefits of Renting

Have you ever thought that you made the right decision to rent instead of owning? Owning a home is something we’ve all probably dreamt about. Society has conditioned us to think that everyone should own a home someday. Homeownership does have its merits, of course, but it depends on the particular market. Sometimes renting can be a better investment than buying. No, you’re not building equity in your home, and yes, you’re technically paying someone else’s mortgage. But in situations where renting a property is cheaper than what the carrying costs of owning that property would be, you’re actually freeing up your money for other things that may be lucrative in the long run.

Now we determined that renting has its perks. But is all ‘renting’ the same?

For example, a condo is a type of private residence in a building or community which is owned by one individual who also acts as a landlord. Apartments are part of buildings containing multiple rental units, and the buildings are managed by a professional property management company just like GWL Realty Advisors Residential.

What option is better for someone who is looking to rent?

Most tenants have the misconception that all renting is the same. While it may be true that a tenant is renting simply because he or she is paying rent, renting in a purpose-built rental building directly from a Property Management Company has its distinct advantages over renting from a condo owner:

  • Security of Tenure provides peace of mind that a resident can remain in their suite for as long as they remain a resident in good standing (i.e. pays their rent on time, and abides by rental rules)
  • No double digit rent hikes that might be experienced with a condo rental, where rent hikes are at the sole discretion of the condo owner
  • Protection against “renovictions” where residents can be asked to leave if a condo owner decides to renovate (or decides to have family members move in)
  • Property staff at their service for quick resolution of any maintenance/service issues
  • A curated community means a safer community, thanks to the qualifying process that renters undergo
  • Access to condo quality amenities without paying the big condo price tag
  • No short-term rental platforms or transient traffic is allowed in a GWL Realty Advisors Residential purpose-built rentals, so tenants can rest easy that their neighbours have all been vetted
  • No condo fees, no down payments, no maintenance fees, no property taxes
  • Better suite finishings can withstand occupant turnover, so suites feature tasteful, durable, longer lasting materials

For additional information on the benefits of renting, check out this article in The National Post written by Lia Grainger.


A Holiday Message to Our Residents

Whether you like it or not, winter is coming. As if dealing with the pandemic wasn’t bad enough, now we’re about to face the bleak realities of subdued holiday celebrations compounded by the cold, wet and dark days of winter.

The next few months will be hard for many of us. Our brains can only maintain a heightened level of anxiety for a certain time and for the past nine months, they have been on high alert making us feel on edge.

Much of the country is setting daily records for new coronavirus cases. Listening to the news and hearing the frightening numbers of Covid-19 cases, makes us feel powerless. One thing you can do to give yourself a little sense of control is to make a commitment. Just do the things you have control over to keep yourself and your friends and family as safe as possible. Wear a mask, wash your hands frequently and social distance. It’s so simple and it has become second nature now, at least for most of us.

Try to keep some positive mindfulness in your life. What we’re dealing with is historic. Instead of letting it all go by, look around, be proud of how you’ve adapted and of everything you’ve done right. Think about what you’ll say when you look back. Mark this year as one you will always talk about.

And, please don’t give up on the holidays. You can still decorate. You can still cook or bake, if you enjoy that. Embrace the holidays at home, however you observe or celebrate them. This is especially important if you have kids. Keep your social connections. Have virtual toasts and parties. We know its not the same, but at least its something. Any socializing, even virtual, boosts our mood. We can still talk and laugh with friends, as always even through a screen.

Adopt healthy habits and stay active! This means eating healthy, getting enough sleep, exercising, and setting time aside to have fun. Weather permitting, get outside and enjoy the day. Physical activity is good for our physical and mental health. Go skating, walk your dog or try something new like snowshoeing.

Probably, the best thing you can do to make yourself, and someone else, feel better, is to do something nice for someone. Pay it forward any way you can. Maybe it’s a small gesture or donation. Maybe it’s finding a way to volunteer. It can be as simple as telling someone how much they mean to you.

Please remember, it’s OK to have a bad day. Everyone else will be having them, too. But, you can work on it. We are all going through this together. Just hang in there. We’re getting closer. This won’t last forever.

Don’t be hard on yourself. Just accept there will be times when things go wrong or you’ll feel bad. Nobody prepared us for this and we are all trying to figure this out as we go along. So, be kind to yourself and others, focus on things and people that are around you that you care about and look for reasons to smile and to laugh.

Warmest wishes of the season from our family to yours.

GWL Realty Advisors Residential