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Report: With Easing Pandemic, Toronto Rental Market Could Recover Soon

The pandemic has affected renters far more than homeowners, and the rental market in the Greater Toronto Area could soon recover if the virus is brought under control.  That’s the message in the Canada Mortgage Housing Corporation’s (CMHC) Spring Housing Market Outlook , which said that employment losses have been concentrated among younger Canadian workers, most of whom are renters.  Other drivers of renting have also been affected, like international migration, which has slowed significantly, according to the report from Canada’s national housing agency. Another big portion of renters are students, most of whom have been learning online.  For students, remote learning meant they could relocate to lower-priced areas of town, or move in with their parents, lowering the demand for rentals in the process.  At Alto Properties’ five-story apartment building, 859 Kennedy Road, we saw that slowdown firsthand, and the likely causes outlined in the CMHC report make sense. At the same time, we’
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Looking at Solutions for Affordable Toronto Housing

As the affordability issue of Toronto housing continues to drive conversation and political argument, several creative solutions are being explored for helping Canadians find ways to live in North America’s most expensive city.  The City of Toronto and community organizations are exploring innovative housing ideas, new taxes, and new rules to ease the burden on many Toronto residents.  These are just a few of the new ideas for Toronto housing being discussed.  Garden Suites The City of Toronto wants feedback on Garden Suites, which are a new kind of housing.  Relatively small residences, Garden Suites can be built in a backyard and rented out to a tenant looking for something small and affordable. They add value to existing properties, provide income to the property owner, and increase the supply of housing at a time when Toronto desperately needs it.  The city is proposing the construction of many such suites as part of its Expanding Housing Options in Neighborhood Initiative. It’s a
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Improving Safety Measures to Fight COVID

 As the Toronto real estate industry continues to boom and the pandemic continues to impose restrictions on daily life, it’s crucial that both landlords and the City of Toronto improve health and safety measures in residential buildings.   City officials have already urged Condo Boards and Landlords to adopt additional measures to protect Toronto residents from the spread of COVID-19. These new measures are aimed especially at large residential buildings that have a large number of units.   “During this unusual time, patience and understanding from landlords is necessary to help stop the spread of COVID-19,” according to the City of Toronto website . “The City encourages all property owners to check in on their vulnerable residents and if necessary, connect them to the appropriate local agencies and supports.”   The RentSafeTO program was implemented several years before the pandemic, but remains another important part of fighting the spread of the virus while raising standards
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Owning a Property: Building Maintenance Checklist

Owning rental property can be quite a task, especially if you are new to the real estate investing industry. Afterall, tenants want to rent a place that they are proud to call home. As a landlord or property manager, you must be on top of strategies that will ensure your investment is in its best shape at all times. Part of that means knowing what to take care of. Here is a quick rental property maintenance guide you can follow. Pest Control One sure thing that will turn tenants away insects and seasonal rodents.   Even though insects are a relatively common hassle, especially during the spring and summer months, it is important to hire an exterminator or pest control company to spray around the perimeter of the property periodically to keep insects at bay.   Even though this will cost you some money upfront, it can save you money in the long run. Same applies for rodents, seasonal as well, however you should have an accredited pest control company on a maintenance contract for you
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