Mark Richardson, Technical Volunteer Lead at HousingNowTO.com and Chief Technology Officer at Rich Analytics, joins us to talk about affordable housing in Toronto. and We dive into duplexes, triplexes, laneway housing, garden suites, increased density and rooming houses. We also look at the overall landscape of housing in Toronto and where it’s headed.
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.
