Saturday, November 17, 2012

Rental Demand Still High During Toronto Condo Boom

Trump Tower Condos Bay Street Toronto
Trump Tower Condos Toronto

Higher Rental Demand For Toronto Condos

There is a record number of new Toronto Condo projects but renters are finding that is not enough to fill the demand for renters.

Toronto Condo build times are taking longer and almost all of these new Condos are delayed from the initial completion dates, some for years like One Bloor Condos for example.

According to Condo market research firm Urbanation projects that took 2.68 years from start to finish a few years ago are now taking close to 4 years.

Demand continues for investor owned Toronto rental Condos as more and more people want to live and work in downtown Toronto who now face a shortage with too few Condos actually being completed to keep up with this rental demand.

Now bidding wars on Toronto Condo rentals are playing out with Condominium owners wanting credit checks, references and job verification letters with proof of salary to show the rent can be paid according to Remax Condos Toronto Realtor, Iris Li. who helps clients buy or rent Toronto Condos.

A lot of people are coming to Toronto and do not realize how fast the Toronto Condo rentals are snapped up in good downtown locations.

Recently, Iris had a Calgary client, single, non smoker, no pets with an above average salary in the financial world who made an offer to lease but was turned down by the listing agent. Why? Can he beat a Vice President of one of Toronto's major banks the listing agent asked.

Iris quickly found a second choice for her client in a new rental Condo in downtown Toronto.

Thinking  of renting or selling your Toronto Downtown Condo , then contact Iris Li, Toronto Remax Condos Realtor for more information.

If you would like to view other Toronto Financial District Condo Listings. please contact Iris, to schedule showings.