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Toronto renters finding it hard to lease a home

Home prices have doubled since 2008, so buying is out of reach for many people - pushing rents in the city to record highs, approaching those in Brooklyn and London

Published Thu, Aug 3, 2017 · 09:50 PM
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Toronto

TRYING to find an apartment in Toronto is a lot like online dating, only more demoralising.

Ask Kin Lau. Normally, landlords would be swiping right on him. He's got a perfect credit score and a good job. But last week, he drove 40 minutes to check out a one-bedroom unit, only to discover another suitor had snapped it up first.

"Do people just not go to see the place before renting?" said Mr Lau, a 25-year-old accountant.

He just wants an apartment viewing. Is that too much to ask?

Renting in Toronto is the hardest it's ever been. Home prices have doubled since 2008, so buying is out of reach for many people. That's pushed Toronto rents to record highs, approaching those in hipster Brooklyn and tony London. Potential tenants are so desperate they…

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