By: Susan Pigg Business Reporter, Published on Wed Apr 15 2015
There are so many new rental condos hitting Toronto market that landlords are under pressure to retain tenants.
So many new rental condos are now hitting the Toronto market that competition is mounting among landlords to keep rents in line and tenants from flocking to the newest glass-and-granite boxes in the sky.
The 23,240 condo leases signed in the past year outstripped both new and resale condo sales combined, says a new report from condo market research firm Urbanation.
Total rental listings were up 21 per cent in the first quarter of this year alone as the number of new projects registering in the GTA skyrocketed by 42 per cent.