This from Cynic at vancouvercondo.info 22 Jan 2010 11:14 pm -
“Last Sunday I went through an open house in the new Woodwards tower – the suite was a 2-bedroom on the “penthouse” floor (41st floor). Asking price was $960,000 but, according to the realtor, it or its twin, could be rented for $2,000 to $2,500 per month depending on the view. Apparently less that 30% of the building is occupied so pretty well any kind of suite you want in the building is available. The monthly maintenance was over $500 (and slated to rise sharply very soon according to the somewhat desperate salesperson) so anyone buying at that price would have to be brain dead.”
First of all, the realtors an idiot and all those figures he/she throws at you are the various forms of bs in order to get you to buy. I would assume that if you were interested in buying a penthouse suite that you are a fairly well off person. When doing a rent/price comparison, you should look at the building as a whole. Take a look at what the mid-floor units are selling for, I saw a 19th floor accessed at 609,000. You could probably rent that for 2000. 1:300 rent:price. In this market, with low interest rates, its not the end of the world to see that. In terms of maintenance, not sure why a realtor would tell you fee’s would be going up, that in itself is a sign that he has absolutely no idea what hes talking about.
I am looking to rent in that building. Do you have the contact info for the individual in charge of renting that suite ? thnx