Why Condo Rental Prices are Soaring in Toronto [2017]
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So I must admit, I'm a bit late on this topic as rental prices have been soaring for at least 3-6 months now but really began to pick up steam late last year after the federal government made it a lot harder for young and first time homebuyers to qualify for a mortgage with the new "stress tests."
But for potential investors, this is a very rare opportunity if you're looking to become a condo rental landlord as you can now capture very high rents compared to the past as many people are moving to the city for new opportunities, while many young people are forced to sit on the sidelines and rent until they can afford to buy and we may even begin to see some opt only to rent and never buy a home ever (just joking maybe we're not quite there yet!)
This will simply become a fact of life for many here in the city just like in other "world class cities" around the world. Don't let that be you, I can help you plan your finances, strategize where to buy properties and help you build a portfolio of investments that will free you from your 9-5, unless you really like your 9-5!! ;) It's best to call me so you can get the best advice in the marketplace as I will custom tailor a solution based on your specific situation. Big news coming soon from Selling Toronto so stay tuned for that guys! :) - PETE