Toronto condo rents up 9.1 per cent. - CondoSavvy

Original article via Globe and Mail.

Rents for condominiums continue to rise rapidly in the Toronto area according to new data from Urbanation Inc., but there are signs of trouble ahead for landlords and investors as the combination of an affordability crisis and the province’s new rent control regime are keeping tenants in their apartments longer.

The bad news for renters was that among the 5,094 condo units leased through the Multiple Listing Service in the fourth quarter average monthly rents topped $2,166, that’s 9.1 per cent growth year-over-year.

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