Published on November 13, 2014 | by Graeme Garland Photography by Graeme Garland0
What are you paying for when renting?
What are you actually paying for while renting?
Although Humber is seen mostly as a commuter school, lots of students rent a house around Humber College while going to school.
A lot of renters wonder what goes into their rent and why it is so high. Some students do not do much research when it comes to what they are paying for. The average rent in Toronto for apartments is all-dependent on the number of rooms, but the average of all sized apartments is $1,615.
A lot of students like to live close to the college so they do not have a long walk to class. Proximity is one of the biggest factors of determining how much rent will be charged.
Landlord Peter Cordavani, who rents out a house in Etobicoke right across the street from Humber College, says “I get a lot of hits for the house because of how close it is. That is why rent is higher here.”
Size of rooms is another big factor in choosing the price for rent. Cordavani says that the different room sizes were planned in his house so that students could pick from many different sizes according to budget. The house that accommodates seven people charges $600 for the master bedroom, $550 for upstairs rooms and main floor rooms and $500 for the basement rooms.
One other thing renters look at is the utilities. To name some of the top picks Humber students look for in a house are a refrigerator, oven and stove, Air conditioning, if cable is included, is internet included, there is a dish washer, and access to bus stops . These are all contributing factors to how much rent will be as obviously the more that is included in utilities the more your rent is going to be says Cordavani.
Rent is calculated on many things but the ultimate outcome is by how much the landlord or owner puts into the house. Landlords need to pocket a little money because renting out houses is a business. Maintenance is a big reason why rent is high because an owner never knows when something is going to break or need replacing. An example of this is an air conditioner, which is a very expensive appliance. Cordavani says ,“ having a necessary household item break normally costs anywhere between $3,000-5,000.
It is hard to compare living at Humber compared to other schools because Humber is mainly houses that are lived in, where as other schools in Toronto are normally apartments.
Cordavani says that if his house was downtown Toronto he could ask double what he does now because of the location and size.