Landlords, don’t forget that you must give at least 90 days notice before a rent increase. This means if you want the rent increase to take effect as of January 1, 2023 you need to give the notice by the end of September!

The Toronto resale market has been forced to take a pause caused by 3 major factors: Rising Interest Rates, Buyer Fatigue and Confusion over New Government Rules. Expect a more balanced market into the spring but with increasing rents.

Sales in February were down significantly YoY but still remain historically high and prices continue to rise. The flight to the suburbs is over, low-rise affordability is a factor and the high-end condo market is growing.

Condo popularity is roaring back to life and a continued lack of listings mean prices are continuing to go up!