Units like 4704 at the St. Regis can be difficult to rent out, owing to exorbitant condo maintenance fees and property taxes.
LMFAO, 3.2k monthly maintenance + Annual Property Taxes $11.8k... we r so deserved what's about to happen!In this case, the owner was being asked to fork over $3,200 per month on fees, driving up potential rental rates well beyond the average two-bedroom condo price in the downtown core. Add in the almost $12k annual property tax rate, and the unit runs up an annual bill of over $38k.
It's a testament to how far the Toronto luxury condo market has fallen since the peak boom days in the 2010s.
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