Rent Control in Toronto

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.

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Here’s What I Learned About Real Estate From Benjamin Tal (Chief Economist of CIBC)

Real estate insights from Benjamin Tal

Last week, I had the opportunity to attend the Toronto Real Estate Board’s Annual General Meeting. Benjamin Tal, the chief economist for CIBC, was the guest speaker. I heard him speak before and have always been impressed with what he had to say. This time was no different and he didn’t disappoint. He blew my mind with his facts, figures and insights and I literally tried to take as many notes as my hand would allow. In fact, by the time he finished speaking, my hands hurt. Continue Reading