The building that many people believe is the catalyst for Toronto’s short term rental condo boom is none other than Tridel’s 300 Front Street West. When 300 Front St W was being built, it was the first tower of its kind to be marketed and sold to a large number of short term rental investors. Tridel itself has a stake in the short term rental market through its Del Suites brand. While some more passive owners leased their properties to Del Suites, many were able to make significantly more renting it short term once Airbnb moved into the mainstream not long ago.
When you arrive at 300 Front you immediately get the feeling of luxury and modern sophistication that has become so synonymous with the Tridel brand. The lobby has a perfect mix of a residential and hotel feel, with bright lights and high ceilings being a classic staple of this special building.
Standing 49 stories tall, the tower offers over 680 units for sale in this hotspot neighbourhood. Located at the corner of Front & John St, right across the street from the CN Tower, Metro Toronto Convention Centre and the Rogers Centre, you could not ask for a better area for a short term rental condo. Compared to other Airbnb Friendly Condos in Toronto, 300 Front St W is one of our top picks.
Let’s take a look at the stats:
Average Price Per Square Foot (2020): $1,073
Year Built: 2014
Neighbourhood: Entertainment District (King West)
Rates
The rental rates at 300 Front are some of the highest we’ve seen across the Airbnb Friendly Buildings. This can be attributed to the location, amenities and the general build quality of the units. Even the units with lower end finishes are still very upscale and classy. The prices to rent here can range from $150 to $1800 a night depending on the type of unit and the specific season / event.
Guest Registration Process
A major advantage of 300 Front St W is the front desk registration process. Hosts must register their short term rental guests with the front desk. Once guests arrive to check in, they go to the front desk, show their ID and retrieve the keys. This is a major advantage over other buildings who do not have a process in place. This leads to a much more organized and professional environment.
Amenities
A central aspect to 300 Front that makes it so sought after by guests is the amazing amenities it offers.
The rooftop infinity pool, cabanas and BBQs offer guests a great environment to hangout with their friends and soak up the sun.
The state of the art gym, steam room and sauna are also very popular with guests.
Price
This is one of the most expensive short term rental friendly buildings in Toronto due to the reasons mentioned above. The price per square foot has risen quickly and is now solidly above $1000/sq ft. Some of the more luxurious units are well above this figure. Any unit in this building selling for under $1 million will be considered a steal a few years from now when you take into consideration the cashflow possibilities and future appreciation.
Conclusion
There really isn’t any other building quite like 300 Front St W. To get our full analysis on the building, feel free to contact us.