Toronto tenants may now be legally protected from drastic rent increases, but the measure seems more like a consolation prize when rent remains so high to begin with.
Six months after Ontario’s Fair Housing Plan was introduced, rent in the province’s biggest city continues to soar.
According to a report this week from the apartment hunting website PadMapper, Toronto recently surpassed Vancouver as the country’s most expensive city to rent in.
The average monthly rent for a one-bedroom condo is now $2,020, according to PadMapper.
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According to Urbanation, the average monthly rent for a condominium in Toronto rose about $200 in 2017, a 9.1 per cent jump.
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