Toronto Downtown Condo tenants will soon be comparing their rent increases as more and more costs are added to an investors expenses.
First it was the Toronto Land Transfer Tax that effectively doubled the land transfer tax and now Toronto is considering doubling the development fees on new Condos as well.
Investor-owned Condos in Toronto will soon see increased rents to recover these taxes and development fees.
Most of the new Toronto Condos are exempt from Provincial rent controls and rents are set to cover the real costs for investors.
Toronto Downtown Condos (Search)