👉For the first time since 2021, Toronto condo rents have declined, dropping by 1.2% in the second quarter compared to the previous year. This decrease is attributed to a surge in rental listings, which rose by 47% due to an increase in condo completions. The influx of listings has provided some relief to renters, though condo investors face significant losses, with average monthly shortfalls nearing C$600. Despite the Bank of Canada’s interest rate cuts, high boring costs continue to challenge the market. The dip in condo rents contrasts with the still-high rents for purpose-built rental apartments.✅ . 𝐔𝐧𝐥𝐨𝐜𝐤 𝐲𝐨𝐮𝐫 𝐝𝐫𝐞𝐚𝐦 𝐡𝐨𝐦𝐞 𝐰𝐢𝐭𝐡 𝐌𝐚𝐧𝐨𝐣 𝐊𝐚𝐫𝐚𝐭𝐡𝐚, 𝐚𝐧 𝐚𝐰𝐚𝐫𝐝-𝐰𝐢𝐧𝐧𝐢𝐧𝐠 𝐑𝐞𝐚𝐥𝐭𝐨𝐫 𝐢𝐧 𝐎𝐧𝐭𝐚𝐫𝐢𝐨. 𝐂𝐚𝐥𝐥: +𝟏 (𝟔𝟒𝟕) 𝟐𝟐𝟔-𝟐𝟔𝟔𝟓 𝐄𝐦𝐚𝐢𝐥: 𝐦𝐚𝐧𝐨𝐣@𝐭𝐡𝐞𝐜𝐚𝐧𝐚𝐝𝐢𝐚𝐧𝐡𝐨𝐦𝐞.𝐜𝐨𝐦 @manojkaratha_realtor . . #TorontoRentals #CondoMarket #RentalRelief #RealEstateTrends #TorontoHousing #CondoRents #RentalMarket #mnm #malayalisnearmeapp #canadaupdate #canadanews

⛔Toronto tenants looking for rentals are getting caught in a scam.⚠️ The scammer rents a short-term rental and shows it to people as a long-term rental property. The people take a look through and pay up the rents for the first and last months, totalling around CAD 4,000 to CAD 5,000. When the tenants come to move in, they are asked to leave the property. The alleged scammer is a 25-30-year-old woman who is 5’4 with short black hair and a tattoo on her neck. Apartment renters should be wary if they ask for a deposit in advance and say they live in another city or country. The owner of the building can be contacted directly to find out if the unit is available as a long-term rental. . . #kijiji #scam #kijijiscam #rentalscam #kijijirental #Torontorentals