It’s not easy to find a condo to rent in Toronto, especially at a price that a normal person could afford. That’s not surprising since the vacancy rate in the Greater Toronto Area or GTA has been less than two percent for the last number of years. But finding condos should be getting easier, right? There’s tons of them around. In fact, condos account for almost all of the new rental housing supply in Toronto. And at least a quarter of all new condos are rented or leased. So, there are many condos, but price is another issue.
Far too many condos are listed at the top end of the rental scale, making them unaffordable except for a handful of buyers. Then, there’s the question of where to rent or lease. Downtown has the most condos and may be the most convenient. But there are lots of choices outside of the core that offer more space and a cheaper monthly payment. It’s a difficult set of choices to consider and may not make finding the right condo any easier.
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