The Seasonal Rental Market

  • Remax-Condos-Plus
  • 16 December 2015

Renting an apartment or a condo used to be a seasonal activity. In Montreal, most people moved on May 1st. In Toronto the market is at its busiest in May and June, then of course for September 1st which is the start of the school year. Recently, Toronto has become Manhattan North. There are roughly 2.5 times more condo leases (rentals) than sales, just like what is happening in the Manhattan market.

On a personal level I know leasing is a 12 month a year business. I took occupancy of a new condo on November 20th, the worst time of the year. However, by November 25th it was leased for December 1st and I had 4 offers in just 6 days.

So to all your potential tenants, when you go to look at a condo for rent, always bring your cheque book, and not just for May and June but for all 12 months of the year.