Landlords & Tenants
The rental market, similar to the real estate market, has seasonality which is reflected in the December 2020 rental stats.
Hamilton's 1 bedroom rents showed the 2nd highest increase nation ride this month and moved up 3 spots to rank in the top 10 as 8th with one-bedroom rent climbing 4.5% to $1,400.
Here is how December shaped up:
Average 1 Bedroom rent is $1,400. Up 4.5% MoM and up 8.5% YoY
Average 2 Bedroom rent is $1,690. Up 1.2% Mom and up 9% YoY
Average 1 Bedroom: $1280 down 5.2% MoM and down .8% YoY
Average 2 Bedroom: $1620 up 1.2% MoM and up 8% YoY
Average 1 Bedroom: $1300 no change MoM and up 3.2% YoY
Average 2 Bedroom: $1550 up 3.3% MoM and up 3.3% YoY
Average 1 Bedroom: $2000 down 2.4% MoM and down 14.9% YoY
Average 2 Bedroom: $2650 no change MoM and down 11.7% YoY
<p>A good friend sent me this article and I thought I would share. It talks about how both landlords and tenants aren't happy about the new provisions in Bill 184. What I like, is that it will provide both landlords and tenants increased freedom to create their own resolutions before going in front of the board, like a plan for repayment of rent, that can then be endorsed by the LTB. If the tenant breaks that agreement, they can be evicted without notification. Check it out and share your comments below!!!!!
Who has used either Landlord Credit Bureau or Rent check for part of their screening process? If possible can you share your feedback or experience on either or both if you have used both?
As people are expecting to work more from home for the foreseeable future, there is a lot of demand for rentals in the 905.
We ran the stats for July:
Ave 1 Bed rent: $1350. down 2.2% month over month. Up 9.8% year over year.
Ave 2 bed rent: $1620. No change month over month. Up 8% year over year.
Ave 1 bed rent: $1250. No change month over month. Up 5% year over year.
Ave 2 bed rent: $1430. Down 1.4% month over month. Down 4.7% year over year.
While Toronto one and two-bedroom rents were down 10% and 12%, respectively, since this time last year, the rest of Canada seems to be steadily recovering from the sudden halt in rental demand during the pandemic as half of the total cities saw rents grow on a monthly basis in this report. As Canada continues to reopen, the desire to move away from pricey cities is becoming more and more apparent.
1 Bedroom: $2070 -1.4% MoM -10% YoY
2 Bedroom:: $2630 -0.8% MoM -12% YoY
Hey everyone. I'm purchasing a student rental in London near Fanshawe and the seller runs a prop management company, but they charge pretty hefty sums for every little thing.
I also have someone who is a trusted handyman in the area that is willing to do any fixer upper handy work/management for a flat hourly rate.
I see someone of the upside in the established company in some regards, but not really in 90% of the things they offer for the price vs getting a trusted handyman to do the work instead.
With the continued trend of people working remotely, there are options for those working from home to look at moving out of Toronto and into surrounding areas that may offer bigger units and/or more affordable rents. Here is how September shaped up:
Average 1 Bedroom: $2050 down 1% MoM down 10.9% YoY
Average 2 Bedroom: $2650 up 0.8% MoM down 11.7% YoY
Average 1 Bedroom: $1350 Up 2.3% MoM up 8% YoY
Average 2 Bedroom: $1640 down 1.2% MoM up 5.8% YoY
Hey everyone, here is the link to the results of the June survey.
Do you have questions or topics that you would like see surveyed?