6 things you need to know about the Toronto rental market

The article discusses six things that one should know about the rental market in Toronto during the COVID-19 pandemic. Firstly, it explains that the pandemic has led to a shift towards a renter's market, making renting in the city more accessible than before. Secondly, the article explains that rental prices are softening, with an opportunity for renters to negotiate and get a lower price than listed. Thirdly, the article mentions that evictions are now allowed again in Toronto, but the backlog of eviction hearings means that it may be challenging to move into a unit that has not been vacated. Fourthly, it discusses the proposed Helping Tenants and Small Businesses Act, which, if passed, will prevent certain residential and commercial rent increases in 2021. Fifthly, the article discusses the impact of students leaving the city due to the pandemic, creating a significant impact on the rental market, and sixthly, it mentions the rise of furnished rental units in the market, particularly as short-term rentals such as Airbnb have decreased.