Wow, we have seen some fantastic growth here in the York Region the last number of years. As we drive around there are countless construction sites and we may have even bought one of the new properties. Did you know that we still have a huge need for rental units in York Region. Our vacancy rates here dip into the 0.5-1.5% range. Many people want to live the lifestyle but are not in a position to own. There is an opportunity to offer upper scale rentals and push the limits of the rental rates. If a rental unit was not occupied for any purpose before June 17, 1998 – meaning it is either in a new building (often a condominium building) built since 1998, or an older building with a new unit or never occupied, residentially or otherwise, before June 17, 1998; It does not follow yearly Ontario Rental Increases. This is Great News if you are wanting to move your rental rates with the market tolerance of value.
Population growth (%) 2006-2011: Canada’s largest Census Divisions
Source: Statistics Canada, 2011 Census