Mark Savel | TorontoLivings - Toronto Real Estate

Oct 16

September 2025 Toronto Real Estate Market Update

By Mark Savel Monthly Market Updates

September brought a noticeable pulse back to the Greater Toronto Area housing market. TRREB reported 5,592 homes sold across the region — an 8.5% increase compared to the same time last year. This rebound comes alongside a 4% increase in new listings, with 19,260 properties entering the market.

While activity picked up, prices continued their modest retreat. The MLS Home Price Index Composite Benchmark dipped 5.5% year-over-year, while the average selling price landed at $1,059,377, down 4.7% annually. On a seasonally adjusted basis, the average price held relatively flat month-over-month (up 0.2%), while the benchmark dipped slightly (-0.5%).

With more homes for sale and increased buyer negotiation power, the market remained competitive — but not chaotic. This remains a market driven by opportunity-seeking buyers and realistic sellers.

Interest Rates & Economic Backdrop

After holding steady for months, the Bank of Canada announced a much-anticipated rate cut in September — lowering its key policy rate to 2.50%.

The move came in response to softening inflation, weaker job creation, and ongoing global trade challenges. It also provided a notable psychological and financial boost for homebuyers, many of whom had been sidelined by borrowing constraints.

Lower rates mean more manageable monthly payments — especially for variable-rate borrowers or those renewing mortgages. According to Global News, some households are now able to qualify for homes that had previously been out of reach.

Expectations are building for two more 25-bps cuts before spring 2026. If realized, this could significantly improve affordability metrics and buyer confidence.

Deep Dive: Sales, Listings & Price Trends

The September landscape was defined by:

More sales: 5,592 transactions (up 8.5% YoY)
More choice: 19,260 new listings (up 4% YoY)
Lower prices: Benchmark HPI down 5.5%, average price down 4.7%
Subtle shift: Sales up vs August, but listings down → signs of slight tightening in certain pockets

This mild tightening suggests some segments — especially entry-level freeholds and move-in-ready condos — may see more bidding activity heading into the fall.

Condo Market & Our Brokerage Lens

Here’s where things got interesting for us at Toronto Livings.

While broader TRREB data showed continued softness in the condo market, our listings told a different story. Every condo we had on the market in September sold faster than expected — often within a week, and in some cases with multiple offers.

Buyers seem to be responding to three things:

Relative affordability: Condos offer a lower price point for end-users and investors alike.
Inventory balance: With listings plateauing, urgency is returning.
Renewed investor appetite: Lower rates + strong rental demand = better ROI math.

This isn’t a market-wide shift yet — but it’s a trend we’re watching closely, especially downtown and in midtown nodes like Yonge & Eglinton and Liberty Village.

What Buyers & Sellers Should Watch

For buyers:

Affordability is trending in your favour. Lower mortgage rates = more purchasing power.
There’s still room to negotiate. Prices are down YoY, and sellers are motivated.

For sellers:

Well-prepped, well-priced homes are moving. Especially in the condo and mid-tier freehold space.
Professional staging, marketing, and pricing strategy matter more than ever.

For everyone:

Inventory may tighten further if new listings continue to slow and sales ramp up.
October and November often bring strategic buying opportunities before the winter slowdown.

Outlook & Forecast

TRREB expects 76,000 total sales by year-end, with modest price growth returning in early 2026 — assuming more rate cuts are on the table.

But there are caveats:

Construction activity is falling — new housing starts have slowed considerably.
Policy coordination is lacking — TRREB is calling for better alignment between all levels of government and industry players.
Supply chain and labour constraints continue to weigh on delivery timelines.

Still, with borrowing costs easing and buyer sentiment rising, the stage may be set for a more active close to the year.

Thinking of making a move this fall? Let’s talk — the market may offer more opportunities than you think.

Sep 16

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Bank of Canada 2026 Rate Announcements & Toronto Real Estate

By Mark Savel Advice For Buyers, Advice For Sellers

As 2026 approaches, all eyes are once again on the Bank of Canada (BoC) and its interest rate announcements. After a period of steady adjustments through 2024 and 2025, the BoC has published its official 2026 schedule—dates that will shape everything from mortgage rates to Toronto’s housing market. With Toronto real estate highly sensitive to rate changes, this calendar matters to both buyers and sellers.

The 2026 Announcement Calendar

The BoC has confirmed eight interest rate decision dates in 2026 (Bank of Canada):

January 28
March 18
April 29
June 10
July 15
September 2
October 28
December 9

Each announcement is released at 9:45 a.m. ET. Four of these dates—January, April, July, and October—also come with a full Monetary Policy Report, offering deeper insight into the BoC’s outlook.

Forecasts & Drivers in 2026

So what’s at stake? As of mid-2025, the policy interest rate sits at 2.75%, with economists anticipating gradual cuts through 2025 and into 2026. Forecasts suggest we could see rates ease closer to 2.00%–2.50% by year’s end (True North Mortgage).

The key drivers the BoC will weigh:

Inflation trends – whether price growth holds steady within the 2% target range.
Economic growth – Canada’s GDP recovery pace, especially as tariffs and global trade pressures evolve.
Labour markets – employment strength and wage growth as signs of consumer demand.
Global risks – from U.S. interest rate policies to energy prices and supply chain stability.

Tracking Toronto’s Real Estate Activity

At Toronto Livings, we keep close tabs on the numbers that matter most:

Sales activity – recent TRREB data shows summer 2025 home sales rising modestly compared to last year.
Average prices – while sales are up, prices have faced downward pressure, with buyers negotiating more aggressively in a high-inventory market.
Inventory & listings – more active listings mean more choice for buyers; months of inventory (MOI) is trending higher (Move Smartly).
Condo vs. low-rise – low-rise homes have seen stronger year-over-year recovery, while the condo segment remains softer.

This real-time tracking helps us anticipate how the BoC’s decisions will ripple through Toronto’s housing market.

How Rate Changes Could Affect Toronto Real Estate in 2026

If rates fall: Lower borrowing costs could spur demand, especially among first-time buyers and move-up families. Low-rise homes may see renewed bidding wars if affordability improves.
If rates hold steady: Market momentum may remain muted, with price growth restrained and condos facing continued challenges.
If cuts are slower than expected: Buyers may stay cautious, and new construction projects—already at lower than historical levels—could face further delays.

What Buyers and Sellers Should Watch For

Key dates – mark the BoC’s eight announcements on your calendar.
Statements & reports – focus on inflation commentary, labour market analysis, and forward guidance.
Local market data – keep an eye on TRREB monthly updates for sales, listings, and pricing.

For buyers: staying pre-approved and watching for rate dips could provide an edge.
For sellers: higher inventory means standing out matters more than ever—pricing and presentation will be critical.

Conclusion

The BoC’s 2026 rate decisions are poised to shape not only mortgage costs but also the rhythm of Toronto’s real estate market. With forecasts leaning toward modest easing, the year could bring more opportunities for buyers while keeping sellers on their toes. We’ll continue to track the data and provide insights to help you navigate what’s ahead.

Sep 08

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August 2025 Toronto Real Estate Market Update

By Mark Savel Monthly Market Updates

If it felt like the market hit pause in August… it kind of did.

Between vacations, back-to-school prep, and one last cottage weekend, it’s no surprise that activity slowed across the board. For our team — and many of our clients — the majority of the month was spent away from the action. Historically, August tends to be one of the sleepiest months in Toronto real estate, and this year followed that familiar script.

That said, a quiet market doesn’t mean a stagnant one. Beneath the surface, some subtle (and potentially significant) shifts took place.

Sales Slow, Listings Rise – A Buyer’s Market (On Paper)

The Toronto Regional Real Estate Board (TRREB) reported 5,211 sales in August 2025 — a 2.3% increase year-over-year, but a sharp 14% decline from July. That drop wasn’t unexpected, given the seasonal slowdown. What stood out more was the surge in new listings: 14,038 properties hit the MLS, up 9.4% from last year and higher than July’s tally.

In plain terms: buyers had more to choose from, and fewer competitors to contend with.

TRREB President Elechia Barry-Sproule put it this way: “With the economy slowing and inflation under control, additional interest rate cuts by the Bank of Canada could help offset the impact of tariffs. Greater affordability would not only support more home sales but also generate significant economic spin-off benefits.” (FYI, the Bank of Canada is meeting on Sept 17th to decide on the policy interest rate)

You can almost hear the fall market gears warming up… but then again, who really know!?!

Pricing Holds Steady — But Down From Last Year

The average selling price in the GTA came in at $1,022,143 — down 5.2% year-over-year and 2.81% from July. The MLS Home Price Index (HPI) Composite also fell 5.2% annually but held flat month-over-month.

That month-over-month stability may seem like good news for sellers, but context is everything. Properties sat longer, with average days on market rising to 49 — the second slowest pace of the year (only January was slower at 55 days).

In short: homes are still selling, but not without negotiation — and patience.

Condos: The Softest Spot on the Map

Of all housing types, the condo segment saw the steepest summer dip. Just 890 condo sales were recorded — making it the third weakest month of 2025. Prices followed suit, with the average condo selling for $667,660, marking the worst monthly performance of the year.

That said, inventory remains healthy and choice is abundant — which could be a silver lining for buyers looking to enter the market or make a move-up purchase.

What This Means for Fall (And Why September Matters More Than Ever)

August may have been sluggish, but fall could be a different story. With many buyers and sellers returning from summer break, we expect momentum to pick up in September.

TRREB Chief Information Officer Jason Mercer noted that, even with lower borrowing costs and softer pricing, affordability remains a challenge. But any additional cuts from the Bank of Canada — like the ones forecasted this fall — could bring sidelined buyers back into the game.

What Buyers and Sellers Should Know Right Now

For Buyers:

Inventory is your advantage. With listings up and competition low, now’s the time to shop around and negotiate with confidence.
Interest rate cuts may be coming. Acting before they hit the headlines could save you from bidding wars down the road.
Condos are especially soft. If you’ve been eyeing a unit downtown or looking for an investment property, this could be the moment to pounce.

For Sellers:

Buyers are cautious, not absent. Presentation, pricing, and patience are key.
Prep now for the fall surge. We expect renewed activity in September — having your listing market-ready could pay dividends.
Highlight value. With affordability still a top concern, make sure your home’s best features are front and centre.

Final Thoughts – Don’t Sleep on the Slow Months

Yes, August was quiet. But that silence came with a lot of signal: more listings, longer days on market, and room for negotiation across nearly every housing segment.

Sellers: now’s the time to prep your listing for fall. Presentation, pricing, and timing will matter more than ever.

Buyers: if you’ve been waiting on the sidelines, this might be the moment to step in. Less competition. More inventory. And the possibility of more favourable rates ahead.

After a well-earned summer breather, Toronto’s market is gearing up again — and we’re here to help you navigate what’s next.

Looking to buy or sell this fall?
Reach out to the Toronto Livings team — even if August was all about rest, we’re ready to help you move forward in September.

Aug 04

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July 2025 Toronto Real Estate Market Update

By Mark Savel Monthly Market Updates

A Stronger Summer Showing

The Toronto real estate market delivered its strongest July sales performance since 2021 — a welcome shift after a slow start to the year. According to the Toronto Regional Real Estate Board (TRREB), 6,100 homes were sold across the GTA last month. That’s a 10.9% increase over July 2024.

New listings also climbed to 17,613, up 5.7% year-over-year. But with sales rising faster than listings, the market saw a modest tightening — signalling that more buyers are finding opportunities to jump in.

Are Prices Still Falling?

Yes — but there’s more to the story.

The MLS®Home Price Index (HPI) Composite Benchmark was down 5.4% compared to last year, while the average selling price dropped 5.5% to $1,051,719.

Month-over-month, prices held steady — suggesting the bottoming-out trend we started to see in June may be sticking around.

“Improved affordability, brought about by lower home prices and borrowing costs, is starting to translate into increased home sales,” said TRREB President Elechia Barry-Sproule.

On the Ground: More Buyers, Faster Sales

From what we’re seeing firsthand — buyers are back.

Between back-to-back interest rate cuts earlier in 2025 and greater affordability in key segments (especially entry-level condos and townhomes), buyer activity is up. Homes are selling faster, showing traffic has picked up, and serious buyers are making moves.

This is the second month in a row that sales have outpaced new listings on a seasonally adjusted basis — a trend worth watching as we head into the fall market.

Rate Relief & Economic Outlook

While the Bank of Canada held its key rate at 4.25% in July, economists expect another cut may be on the table this fall (September is the next meeting).

Mortgage rates have already reacted, with many 5-year fixed options dipping below 5% — making ownership slightly more attainable for buyers who were previously priced out.

But the economic picture remains mixed. As TRREB’s Chief Market Analyst Jason Mercer notes:

“Recent data suggest that the Canadian economy is treading water… further interest rate cuts would spur home sales and see more spin-off expenditures, positively impacting the economy and job growth.”

What About the Foreign Buyer Ban?

Despite its name, the foreign buyer ban isn’t an outright block. There are several exemptions that allow non-residents to purchase real estate in Canada, including:

Multi-unit buildings with 4+ units
Vacant land and development parcels
Recreational and rural properties
Purchases by international students and temporary workers under defined rules

This is important context for developers and investors looking at multiplex conversions or purpose-built rentals.

Key Stats at a Glance (July 2025)

Metric	Value	YoY Change
Home Sales (GTA)	6,100	+10.9%
New Listings	17,613	+5.7%
Avg. Selling Price	$1,051,719	-5.5%
MLS® HPI Composite	—	-5.4%
BoC Key Interest Rate	4.25%	—
5-Year Fixed Mortgage Rates	~4.89%	Lower than 2024

What Buyers and Sellers Should Know Right Now

For Buyers:

Timing is on your side. With prices flat month-over-month and rates slowly trending down, conditions are more favourable than they’ve been in years.
Competition is still manageable, but we expect that to shift as fall approaches — don’t sleep on pre-approval and fast decision-making.
Condos and townhomes are heating up, especially in midtown and west-end pockets. If you’ve been on the sidelines, now’s the time to revisit your strategy.

For Sellers:

Pricing matters more than ever. Overpricing is a fast track to stagnation — strategic pricing is key in this transitional market.
Presentation counts. With more motivated buyers, staging, pre-inspections, and marketing make a real difference.
We’re seeing faster sales for homes that show well and are priced right — especially in walkable, transit-connected neighbourhoods.

Final Thoughts

Affordability is improving. Buyer confidence is growing. And if July’s numbers are any indication, we’re moving toward a more balanced market.

With fall just around the corner, there’s likely more activity — and more competition — to come.

If you’re planning to buy, sell, or just want to know how the shifting market affects your next move, reach out to us here.

Want a better sense of your home’s current value? Get your free evaluation and we’ll show you what today’s buyers are paying.

Jul 23

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Best Sites to Find Medium‑Term Rentals in Toronto: for Relocations, Renovations & Extended Stays

By Mark Savel Medium Term Rentals

Whether you’re relocating for work, renovating your current home, or planning an extended stay in the city, medium-term rentals (typically 1–12 months) have become the go-to solution. Flexible leases, furnished spaces, and all-inclusive pricing make them a practical choice for professionals, families, and digital nomads alike. According to recent Toronto rental market data, demand for fully furnished, turnkey housing has climbed steadily over the past two years—thanks in part to remote work and corporate relocation programs.

The Three Types of Platforms to Check First

1. Corporate Housing & Specialized Providers

Best for relocations and turnkey living
If you want a seamless, hotel-like experience without the hotel vibe, corporate housing providers are your best bet. They specialize in fully furnished suites with all the comforts of home: stocked kitchens, dedicated workspaces, housekeeping, and 24/7 support.

Here are some top choices:

Premiere Suites – Canada’s largest corporate housing provider.
MAC Furnished Residences – Over 30 years of experience serving relocations across the GTA.
Mary-am Suites – Known for high-quality furnished rentals with concierge-style service.
Olivia’s Housing – Great for mid-term executive stays, offering flexible 28+ day rentals.

You can also rent directly with us! Check out our fully furnished 3-bedroom corporate relocation housing—ideal for families in between homes or professionals relocating to Toronto. For a more design-forward take, follow @amreeiproperties on Instagram for beautifully curated furnished stays.

2. Meta-Search & International Platforms

Best for variety and quick availability
If you prefer browsing multiple options quickly, global platforms are a solid choice. Many now cater specifically to longer stays:

Airbnb – Long-stay filters and host-reviewed listings.
Vrbo – Best for private, whole-home rentals.
Booking.com & Sonder – Blend of apartment-style hotels and furnished apartments.
Nestpick – Meta-search engines that pull listings from multiple providers.

These platforms are great for those wanting flexibility, variety, and user reviews before committing.

3. Sublet & Budget-Friendly Sites

Best for extended stays on a tighter budget
If you’re willing to trade full-service perks for cost savings, sublet-focused sites can be worth exploring:

Flatio – Deposit-free, mid-term furnished rentals.
Sublet.com – Flexible furnished subleases and rooms.
Facebook Marketplace & Kijiji – Informal but often great for last-minute deals (just be sure to vet listings carefully).

These platforms appeal to students, interns, or anyone needing a simple, budget-conscious stay.

What to Consider Before Booking a Medium-Term Rental

Before you sign, make sure you:

Review lease terms and cancellation policies.
Confirm what’s included (utilities, WiFi, parking, cleaning).
Check location—proximity to transit, work, or schools matters.
Ask for corporate invoicing if you’re relocating for work.

Professionally managed properties often handle these details better, which is why corporate providers remain popular for business and family relocations.

Ready to Find Your Perfect Medium-Term Rental?

Toronto’s medium-term rental market is full of great options—if you know where to look. Whether you need a furnished home for a few months or a turnkey space while you renovate, we can help you find the right fit. Start by exploring our featured 3-bedroom corporate relocation housing, or reach out to us directly for personalized recommendations. And for daily inspiration, follow @amreeiproperties to see beautifully staged furnished rentals around the city.

Jul 22

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Whats the Difference Between a Medium‑Term & Long‑Term Lease in Toronto

By Mark Savel Medium Term Rentals

Why Your Rental Strategy Matters in Toronto’s Market

Toronto’s rental market is tight, competitive, and constantly evolving. Choosing the right rental type isn’t just about convenience—it’s about finding the right fit for your lifestyle. Whether you’re relocating for work, staying temporarily, or looking for long-term stability, understanding the pros and cons of each rental type will help you make the best decision for your situation.

What is a Medium‑Term Rental?

A medium‑term rental (MTR) typically ranges from 1 to 6 months and is almost always furnished. These rentals are ideal for corporate relocations, digital nomads, or anyone “in-between homes.”

Pros:

Furnished and often fully equipped (utilities and Wi-Fi included)
Flexible lease terms—great for temporary stays
Move-in ready with minimal setup costs

Cons:

Limited selection in some neighbourhoods
Less negotiating power due to demand

Check out our clients property: Medium-Term Rental in Toronto – Fully Furnished 3-Bedroom Corporate Housing.

What is a Long‑Term Rental?

A long‑term rental (LTR) in Toronto is typically a 12-month lease or longer, and is the most common choice for permanent residents.

Pros:

Stability and consistency for those planning to stay longer
Access to a wider variety of units and neighbourhoods
Many buildings are subject to Ontario rent control

Cons:

Less flexibility—breaking a lease early can be challenging
Usually unfurnished, requiring upfront furniture and setup

Which Rental Type is Right for You?

Choose a Medium-Term Rental if:

You’re relocating temporarily for work
You’re renovating or between homes
You need flexibility with move-out dates

Choose a Long-Term Rental if:

You’re planning to stay in Toronto for 12+ months
You prefer a consistent living arrangement
You’re okay furnishing and setting up utilities yourself

Real Stories – How We Helped Clients Choose

One client relocating for a six-month tech contract needed a fully furnished, hassle-free space—we secured them a modern MTR downtown within 48 hours. Another couple moving from Vancouver wanted long-term stability; by opting for an LTR in a rent-controlled building, they found the perfect home for their new life in the city.

Final Thoughts – What’s Next?

Whether you’re looking for flexibility or long-term comfort, Toronto offers options for every lifestyle. The key? Weigh your priorities: convenience vs. stability.

Not sure which rental type is right for you? Let’s chat about your options.

Jul 22

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Medium-Term Rentals in Toronto: Flexible Housing for 30–180 Days

By Mark Savel Advice For Sellers, Medium Term Rentals

What Are Medium-Term Rentals?

Medium-term rentals are furnished homes or condos leased for 30 days to 6 months—the sweet spot between nightly Airbnb-style stays and traditional one-year leases. They’re perfect for people who need a place longer than a vacation but don’t want to commit to a full-year lease.

Toronto’s housing market, with its constant flow of newcomers, corporate relocations, and transitional homeowners, makes medium-term rentals more relevant than ever.

Who Are Medium-Term Rentals For?

Corporate Relocations & Work Assignments

When employees relocate for a project or work assignment, staying in a hotel for months can be expensive—and uninspiring. Medium-term rentals offer a home-like alternative with full kitchens, private living spaces, and flexible terms.

Looking for an example? Check out this fully furnished 3-bedroom in Toronto, perfect for corporate relocations.

Homeowners Renovating or Between Homes

If you’re remodeling your home—or selling one place while waiting for another to close—a medium-term rental keeps you comfortable during the transition. Think of it as a stress-free way to ride out those noisy renovations or delayed closings.

Extended Visits & Medical Stays

Some families need to be in Toronto for months at a time—whether for specialized medical treatment, supporting a loved one, or even “test-driving” the city before making a permanent move. Medium-term rentals make these longer stays convenient and comfortable.

Why Toronto is Perfect for Medium-Term Rentals

Strong Demand from Relocations

Toronto is Canada’s corporate and financial hub. With global companies moving employees in and out of the city, demand for fully furnished, flexible housing remains high—even as overall rents have cooled slightly in 2025.

Tight Hotel Supply & Rising Costs

Extended hotel stays can feel cramped and costly. Medium-term rentals often provide more space for less money, plus practical perks like full kitchens and in-suite laundry.

Investor Opportunity

For investors, medium-term rentals can be a sweet spot:

Higher nightly rates than long-term leases
Fewer regulatory headaches than short-term rentals (and less turnover chaos)

What to Look for in a Medium-Term Rental

Whether you’re renting or investing, here’s what makes a great medium-term property:

Fully furnished with quality essentials (not just mismatched leftovers)
All-in pricing – utilities, Wi-Fi, and parking included
Great location – near transit, corporate hubs, or hospitals

Considering a Medium-Term Rental?

If you need temporary housing for work, renovations, or a life transition, a medium-term rental could be the perfect fit. Explore this fully furnished 3-bedroom Toronto rental, ideal for corporate stays or relocations and experience how seamless a temporary move can be.

Ready to Find Your Medium-Term Rental?

Whether you’re relocating for work, waiting on a new home to close, or just need a comfortable place during renovations, we can help you secure the right space. Contact the Toronto Livings Team today and let’s find you a rental that feels like home—even if it’s only for a few months.

Jul 18

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Rent Control Exemptions in Toronto Explained

By Mark Savel Advice for Landlords

What Is Rent Control in Toronto?

Rent control in Ontario limits how much a landlord can increase a tenant’s rent each year. For 2026, the provincial guideline is 2.1% for most residential units—meaning landlords can’t raise rents above that amount unless approved for an above-guideline increase (AGI).

But not all rentals follow this rule. In Toronto, a growing number of units are exempt from rent control, creating different rules for both landlords and tenants.

Which Rentals Are Exempt from Rent Control?

Post‑November 15, 2018 Units

Any unit first occupied for residential use after November 15, 2018 is exempt under Ontario’s Residential Tenancies Act. This includes:

New condo units rented out for the first time.
Purpose-built rental buildings completed after that date.
Newly finished basement suites or secondary units occupied for the first time after 2018.

Why Are They Exempt?

The Ontario government introduced this exemption to encourage new housing development. By allowing landlords to set market-driven rent increases, policymakers hoped more developers would build rental housing.

What Rules Still Apply to Exempt Units?

Even if a unit is exempt from rent control caps, landlords still must:

Wait 12 months between rent increases.
Provide 90 days’ written notice using Form N2 (VERY IMPORTANT as most landlords we speak with assume Form N1 is sufficient)
Follow all other tenancy rules (e.g., maintenance, eviction regulations).

How This Impacts Tenants and Landlords

For Tenants

Exempt units can see steeper rent increases year-over-year. Budgeting is trickier, and long-term affordability can be uncertain.

For Landlords

More pricing flexibility can mean higher rental income, especially in high-demand areas. But aggressive rent hikes may push tenants out, causing longer vacancies.

Average Rent Increase Comparison

According to Clavis Property Management, exempt units saw average increases of 5–10% annually in recent years—double or even triple the guideline cap.

Should You Rent or Invest in an Exempt Unit?

For renters, exempt units often come with newer finishes and better amenities—but expect rent to grow faster than older, controlled buildings. For investors, these units provide better revenue potential, making them attractive for long-term holds.

Thinking about renting or investing in Toronto? Talk to our team. We help clients understand how rent control exemptions could affect their long-term plans.

FAQ

Can my landlord raise my rent anytime?

No. Even in exempt units, landlords must wait 12 months between increases and give 90 days’ written notice.

Can I refuse a rent increase on an exempt unit?

You can’t refuse if proper notice is given, but you can dispute illegal increases at the Landlord and Tenant Board.

Are all new condos exempt?

Most are—if the unit was first occupied after November 15, 2018. Older condos remain under rent control.

Ready to Make a Move?

Whether you’re a tenant navigating rent hikes or an investor weighing the benefits of an exempt unit, our team can guide you through the Toronto rental market. Contact us today to get expert advice and a strategy that fits your goals.

External References:

Jul 17

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Ontario Rent Increase Guidelines for 2026: What Landlords Can (and Can’t) Charge

By Mark Savel Advice for Landlords

What is the 2026 Rent Increase Guideline (2.1%)?

Ontario has set the maximum allowable rent increase for most residential units at 2.1% for 2026—the lowest cap in four years. This guideline, announced by the Ministry of Municipal Affairs and Housing, is based on Ontario’s Consumer Price Index (CPI) average from June 2023 to May 2024.

For landlords, this means you can raise rents by up to 2.1% without additional approvals. Tenants, on the other hand, can rest assured that any increase above this limit needs a formal application to the Landlord and Tenant Board (LTB).

Who It Applies To—and Who’s Exempt

The guideline applies to most private residential rental units occupied on or before November 15, 2018, including:

Houses, apartments, and condos
Secondary suites and basement rentals

However, some units are exempt, including:

Residential units first occupied after November 15, 2018
Vacant units (landlords can set new market rents)
Community housing, long-term care, and commercial properties

Key Rules Landlords Must Follow

If you’re planning a rent increase, here’s what the law requires:

Only one increase every 12 months
90 days’ written notice using Ontario’s standard Form N1
Effective window: increases can take effect anytime between January 1 and December 31, 2026

Quick Example

If your current rent is $2,000, the maximum increase without special approval would be $42/month, bringing the new rent to $2,042.

What If Landlords Need More? (Above-Guideline Increases)

Landlords can apply for an Above-Guideline Increase (AGI) through the LTB, but approvals are limited to specific reasons:

Significant capital repairs or renovations
Extraordinary increases in municipal taxes or utilities
Increased security service costs

Applications must include documentation, and tenants have the right to dispute.

What Tenants Need to Know

Tenants should:

Confirm that their unit falls under the guideline
Verify the math on any rent increase notice
Know their rights to dispute through the LTB if the increase seems incorrect

Why 2.1%? Context & Comparison

The 2.1% guideline reflects Ontario’s inflation trends, which have cooled compared to recent years. Here’s a quick look at past guidelines:

Year	Guideline
2023	2.5%
2024	2.5%
2025	2.5%
2026	2.1%

Bottom Line: Preparation & Clarity for 2026

For landlords: plan early and issue notices properly. For tenants: understand your rights and keep records of all communications.

If you’re unsure how these changes impact you—or you need help navigating Toronto’s rental market—reach out to the Toronto Livings Team. We’re here to help you stay informed and make confident decisions in 2026 and beyond.

Jul 16

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How Long Is a Status Certificate Valid in Toronto? What Buyers and Sellers Need to Know

By Mark Savel Advice For Buyers, Advice For Sellers

Why Status Certificates Matter

When you’re buying or selling a Toronto condo, the status certificate is one of the most important documents in the deal. It’s a snapshot of the building’s financial health, reserve fund, insurance, and any legal issues that could impact ownership. Lenders and lawyers rely on it to confirm that you’re not walking into unexpected costs—or worse, a building with looming legal trouble.

The Legal Reality: Valid Only on the Day It’s Issued

Here’s the key takeaway: a status certificate is legally valid only on the date it’s produced. According to the Ontario Condominium Act, it’s essentially a “point-in-time” document. Think of it like a financial snapshot—accurate the moment it’s taken, but not guaranteed tomorrow. Condo boards aren’t required to notify you of any changes after the certificate is issued.

The Practical Reality: Lawyers and Lenders Play by Different Rules

While the law is clear, real-world practice adds a layer of interpretation. Lawyers and lenders treat the document as “current” for a certain window of time:

Lawyers

Most lawyers will review a status certificate within 10 days of issuance.
Between 30–60 days, many will request a verbal update from property management to confirm nothing has changed.
Past 60 days, some lawyers may advise ordering a new one if the deal is still pending.

Lenders

Most lenders require a status certificate that’s no more than 30 days old before approving mortgage funds.
Beyond 90 days, virtually every lender will require a fresh certificate, no matter what.

Why There’s No Universal Rule

The reason for this inconsistency is simple: condo finances can change fast. A new special assessment, a lawsuit, or unexpected repairs can throw a building’s financials off balance in a matter of weeks. Lawyers and lenders set their own risk tolerance, which is why two deals on identical units might have different requirements.

Real-World Example

Not long ago, we had a deal where the status certificate was just outside the 90-day window. The lender wouldn’t release funds until a new certificate was ordered—costing the seller time and the buyer an extra $100 in fees. Nothing had changed in the building’s finances, but the lender’s policy was firm: no exceptions beyond 90 days.

Best Practices for Buyers and Sellers

Track the date carefully. Treat the issue date as a countdown clock.
Expect lender caution. If financing is involved, budget for the possibility of ordering a second certificate.
Talk to your lawyer early. Ask how long they’re comfortable relying on an older certificate.
If you’re selling, be proactive. If your certificate is nearing 60 days old and the deal isn’t firm yet, consider ordering a new one before being asked.

Quick FAQ

Can you rely on an old status certificate if nothing has changed?
Sometimes, but only with confirmation. Lawyers may request verbal updates, and lenders often won’t accept verbal assurance beyond 30–60 days.

Who pays for a new status certificate if one is needed?
Typically, the seller provides the initial certificate. If a new one is required due to delays, it’s often negotiated, but sellers usually cover it to keep the deal moving.

What if something changes after the certificate is issued?
Buyers can request an updated certificate, and significant changes (like a new special assessment) could give them grounds to back out before firming the deal.

Thinking About Buying or Selling a Condo?

Understanding the fine print of a status certificate can make or break a deal—and that’s where we come in. Whether you’re reviewing one for a potential purchase or preparing your unit for sale, our team knows exactly what to look for (and how to keep deals moving, even when lenders get picky).

Reach out to us today to talk through your condo plans—let’s make sure your next move is a confident one.