The location is very, very good, with the subway (via Union Station) being about a 10-min walk to the north, and a street car line in front of the building. There are grocery and convenience stores very close by, as well as some fast food and sit-down restaurant options within steps of the building. The included parking spot under the building is tricky to use, but very much appreciated compared to parking costs in downtown Toronto.
The apartment is small but efficient, and despite being on a low floor, the windows were surprisingly insulating from the city sounds outside. Inside the apartment, it's an IKEA showroom -- I recognized just about everything! :-) Fabrics, surfaces, everything was perfectly clean and we were comfortable right away. One minor irritation was the bed, which was a bit too firm for my taste (and I like a firm bed). Oh, and the TV was very, very dim -- so much so that we watched streaming video content on a laptop, which was fine because the Wi-Fi worked great. (I would replace that TV.)
This was my first airbnb stay, so I don't have anything to compare it to, but it seemed like the process to get into the unit and to return the keys was... a little complex. Since the building doesn't officially allow airbnb hosts, I guess it's necessary to visit nearby convenience stores to get the keys and return them. It would have been easier if the host lived in the same building and provided the keys in person. But it all worked out in the end. This may be a common thing and I'm just new to it.
Communication with the host was surprisingly easy, fast, and clear. The instructions for parking, getting keys, getting into the apartment -- everything was well-written and organized. Even when there were lots of steps, you could easily follow them.
The price felt a little high to me, but I'm not familiar with Toronto prices, and I have to say the hotels I looked at in the area were pretty pricey, too, plus they didn't include parking. This we probably a better deal, all in all.
One story I read about airbnb before booking talked about hosts that demand you do all kinds of chores before checking out. NOT SO in this case -- all we had to do was the (somewhat annoying) key drop, which took 2 tries because the first convenience store was full, but we were NOT asked to do any particular chores in the apartment. Out of respect for our host, we did take out the trash and recycling and we washed the dishes, but we weren't asked to do it, which was nice.
All in all, if you want to be in downtown Toronto, and maybe want to be near the waterfront, with walkable access to mass transit, this is a great option, particularly for 2 people that want an experience that's a step up from typical hotel rooms, considering you have a washer, dryer, dishwasher, full refrigerator, stove/oven, and stocked kitchen. I would happily recommend this rental and host -- great experience overall.