“It was very quick,” said Nam, who uses gender-neutral pronouns. “Quicker than what I experienced a couple years ago when I was looking for a place. I found that not only were the rental prices high, but the turnaround was not that fast.”
Power once wielded exclusively by landlords has been passed to their would-be tenants, giving renters the chance to negotiate lower prices — and bigger perks. According to a report released this month by the online brokerage Zoocasa, the number of condos listed for rent in Toronto spiked 45 per cent in the second quarter of 2020, compared to the same time last year. In the downtown area, it grew a whopping 80 per cent.
“When I usually have tenant clients this time of the year, it’s almost exclusively students or new immigrants looking to secure housing before the school year starts,” she said. “And that’s come to almost a full standstill.”“In the downtown core, which is where most of my tenants would be looking at this time of the year, it’s so, so much easier in terms of finding a better price,” Rowshanbin said.
Well that's the first time in history that ever happened, besides all that's left in our Canadian cities are luxury condos rentals are almost non existent, building apartment buildings hasn't happened since the late 1990's what's left is overpriced and under maintained. Housing
For now
Wait till november, University students are't coming back. Income/rental properties become a liability. POP!
The students aren't coming are they? It's the end of August but only when landlords lower the rent will they get back on track with tenants.
Hardly... rent prices are being disguised behind temporary discounts. Don’t be fooled 🙄
You mean right side up
Rent is more expensive then a mortgage
We sold our rental house. Just trying to do my part in creating a rental shortage!
About time. They will get what is due from the greedy landlords.
I wouldn’t own a rental property now for any amount of money. Renters are going to start hurting once landlords bail on their properties and turn them into condos.
Good!
The weirdest sentence in this whole story '“It was very quick,” said Nam, who uses gender-neutral pronouns' Not sure how or why this factors into the story, but ok
The value of an apartment in the city is proximity to employment opportunities. There are fewer jobs so, every apartment is worth less right now. Smart landlords will lower rent or offer incentives to keep tenants.
There is more to Canada than just Toronto.
BS. A 2 bedroom in Parkdale is still $2100.
Renting to a bad tenant can be a nightmare! Rent to students or executive rentals!
We took our suite out. No protection against bad tenants as they have all the rights. The losses far outweighed the mortgage help.
Amazing... what happened to the mass immigration?
Good. Renter 4 life!
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