News for those who rent or plan to rent a house

The rise in house prices in the Greater Toronto Area in 2016 -2017 indirectly increased demand and growth in the price of rental housing. According to the Ministry of Housing statistics, only 6% of the total housing construction during the last 20 years was in the category of rentable properties. To maintain affordable prices for rental housing, you need to increase the share of rent complexes. In order to encourage the construction of such new rental housing projects, the municipalities will determine which projects will fall under the construction grant from the province of Ontario of $125 million over the next five years.
Other steps taken to normalize the housing market are changes in legislation to protect tenants from an annual increase in the cost of rent, and changes regarding the eviction of tenants by landlords.
Free land in the area of ​​Kipling and Finch avenues, Thistletown will become a new area for the development of this rental housing. Consideration is given to other possibilities for transferring vacant sites for development into rent complexes.