Canada Mortgage and Housing Corporation (CMHC)published an excellent review of the rental market in the Greater Toronto area.
They report an overall shortage of rental units in Toronto. The portion of interest to me is that the rental suites provided by individual investors through offering their condo suites for rent, is a key component of the supply. In Toronto core the rental occupancy as fallen to about 1.0% having been as high as 5% a few years ago.
Fewer purpose-built rental buildings are being built in Toronto.
Read the whole report here.
I can help people to rent out their Toronto condo suites and I help tenants find excellent condo suites to live in.
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