The Residences of Maple Leaf Square at 55 and 65 Bremner has always been a prestigious building to buy in, and the short term rental boom has amplified that reality. What’s so fascinating about these twin towers is that despite having a couple hundred units at more than 300 Front Street West, owning a property has become even harder. This wasn’t the case just a few short years ago, but several factors have put it right up there, with 300 Front as the most prestigious building to have a unit.
One of the best aspects of 55 and 65 Bremner Blvd is the management’s professionalism and attitude towards Airbnb style rentals. The management company is, in many ways, a reflection of the owners and, even more so, the owner-occupied residents. With the number of short term rental units rising in most Airbnb-friendly buildings, most other large towers have faced internal struggles between owners who do short term rentals and those who don’t. While a short term rental building is significantly harder to manage than a regular condo tower, it seems both the residents and management have embraced the situation.
With two towers and 872 units, buildings are at the centre of the iconic maple leaf square. There probably isn’t a better building for someone attending an event at Scotiabank Arena or Rogers Centre. Also, besides the financial district and waterfront, it’s a perfect location for leisure or business short term renters and executive rentals.
Let’s take a look at the stats:
Average Price Per Square Foot: $1096
Year Built: 2011
Neighbourhood: Borders Financial and Entertainment Districts
Rates
Both rates and occupancy in these towers are nothing short of impressive. The location and upscale feel of the building make it tied with Ice Condos and 300 Front Street West as the least impacted by seasonality. All year-round events happen at Scotiabank Arena and the Metro Toronto Convention Centre. When it’s cold outside, business travellers love access to the PATH and proximity to the financial district towers. Rates in the building range from $110 to $1800 a night, depending on the specific season/event.
Guest Registration Process
As the number of owners at the Residences of Maple Leaf Square running short term rentals has increased through the years, the building has also become more organized. There is an internal Short Term Rental Committee within the building responsible for helping draft guidelines for Airbnb rentals. All owners running short term rentals must have insurance and present that insurance to the management company. There is also a simple but effective guest registration process for each guest stay. Overall the building has done an excellent job of ensuring the security of the building without creating unnecessary burdens for operators.
Amenities
Perhaps the most unique aspect of 55 and 65 Bremner is that, for many people, the most impressive amenities aren’t even inside the actual condo tower. The ground floor concourse features a Whole Foods-style Longos superstore, two nice restaurants, an LCBO, a TD bank, and a SportCheck. In the same building, the upscale St. Germain Hotel features its trendy lobby bar, perfect for unwinding after a long day or business meeting.
As for the actual building itself, it has a rooftop outdoor pool, indoor pool, hot tub, gym, and workspace. Pretty impressive, and all of the amenities are well maintained by the management company.
Price
The price of units in the building is now regularly selling for above $1100 a square foot. Far gone are the days when the one-plus dens would sit on the market for weeks at $450,000. These days, those same units command bidding wars at 60-70% higher rates. But then again, it was Toronto in 2020, so what else can we possibly expect? Speaking of dens, we believe there is probably no better building in terms of the quality of dens and the value they add to the experience. Often, a 1+1 can easily pass a two-bedroom and a 2 + 1 a three-bedroom. Thus, waiting for a unit with a good sized den at 55 and 65 Bremner is still one of the best ways to get high cash flow on Airbnb.
Conclusion
Over the last couple of years, we’ve come to firmly believe that the Residences of Maple Leaf Square ranks right up there with 300 Front Street West as the top two short term rental buildings in Toronto. While the Ice Condos (12 & 14 York) and Reve (560 Front Street West) are also in that elite category regarding experience and location, these two buildings are just slightly above the rest. Which is better is up for debate, even among people who own properties in both. In conclusion, if you’re lucky enough to own property at Maple Leaf Square, recognize that you are holding onto some of the most valuable real estate in the country.
For those interested in optimizing their Airbnb ventures, we invite you to discover more about our professional Airbnb Management services in Toronto. Our expertise can help elevate your hosting experience, maximize your revenue, and ensure your property’s success in the competitive rental marketplace.