Downtown Condos Introduce Unique Leaseback Promotion

One of the biggest concerns for investors looking to invest in pre-construction condominiums in Toronto is the vacancy period and carrying costs of holding onto a unit with no tenant.  Downtown Condos by Parallax are offering a very unique Special Offer that protects investors from that – the BUILDER will lease your unit from you as soon as you begin occupancy!

It’s a very unique incentive that we have not seen very much in Toronto and we applaud Parallax for thinking outside of the box.  The development itself is known for it’s unique architecture that allows walls to be removed to combine multiple suites.  The development, located in the Entertainment District is a boutique building with just 89 suites.

The lease amount is pre-determined and is based on your expected carrying cost of Mortgage, Maintenance Fees and Property Taxes.  For example, a unit that costs $318,900 is expected to cost approximately $1,480 per month (contact us for exact calculations), will be leased from you by the builder for $1,550 and they will begin paying you rent from the day you take occupancy.

This promotion is only available on 12 suites ranging from 436 sq.ft. to 783 sq.ft. and start from the $250,000’s.

Read all about Downtown Condos here.

If you would like to know more about this unique promotion, contact us using the form below.