The Canadian Mortgage and Housing Corporation say that the demand for rentals outpaced supply. Across the country, the number has gone up to 23,000 in the last 12 month which is a 1.2% increase.
The demand was fuelled by migration to Canada, improving employment for young adults allowing them to move out of the family home as well as an aging population looking for low maintenance living.
Many condo units are being used as rental units. Between 22-38% of all condos in the province of Ontario...