Prior to April 2017, rent control only existed for buildings built before 1991. Most of the new condos being built were not under rent control. According to Urbanation, a third of condo rental stock comes from individual investors, domestic & foreign, who have purchased condos and have rented them out. 27,219 units were leased on MLS in 2017. 50% of the new condo buildings are used as rentals. Prior to April 2017, Landlords were given free rein to increase rents on an annual basis.
Does size matter?
When buying a condo, you need to determine what size space you’d like to live in. The older condo buildings tend to have much larger units available than the newer buildings. The average size condo in a newer (less than 5 years old) building is less than 600 sq ft. If you want space you need to look at an older building. Continue Reading
Are you frustrated with the lack of townhouses on the market? Are you living in a condo in the Davisville area and wish you could afford something larger in the area but you’ve found the houses just too out of reach? Well, look no further than this roomy 1700+ sq ft of living space located on Merton Street. You can even enjoy direct access from the garage inside to your townhouse.
The spacious and bright living & dining room is ideal for entertaining or a busy family life. The large kitchen will allow you to accommodate guests in what inevitably becomes a kitchen party or cook up a feast with some friends.
With a large laundry room completing the necessities of life is easy. A second floor office is ideal for working from home as it has it’s separate entrance and a patio. Or use it as a den where you can steal away with a good book or catch up on Netflix. Powder room. On the third floor enjoy your large bright master bedroom retreat complete with a large closet. The master ensuite features a separate tub and shower.
Here’s what happened in Toronto’s condo market in 2017, plain and simple.
I share what the best month to buy a house/condo is on this new Morrison Report.
Last week, Canada’s Competition Bureau came out with a ruling against the Toronto Real Estate Board; TREB. It meant that TREB is supposed to allow its members to release sold data and other information about listings online. TREB is unhappy with this ruling and wants the right to appeal this decision yet again. Continue Reading