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What’s Happening With Rent Discounts?

Toronto Realty
Publication date:
November 23, 2020
Article Summary: 

The rental prices in Toronto have dropped due to an increase in inventory and the COVID-19 pandemic. Some landlords are offering rent discounts to attract tenants, but some are doing so in an illegal way. The illegal approach involves offering the original lease price, and then providing a rebate or discount to make it seem like the tenant is getting a discount, while actually keeping the tenant on the hook for a higher lease price for the second year. Legal discounts are where the landlord offers the unit for lease for a certain price and provides a discount. In the future, the tenant will be on the hook for the original price. Some landlords do not understand the legal requirements of residential tenancy laws.


rental prices, rent prices, Toronto rental prices, Toronto rent prices, Toronto price drops, COVID-19 pandemic, COVID-19 virus, Ontario residential tenancy laws

Source Citation: 
Toronto Realty
What’s Happening With Rent Discounts?
November 23, 2020
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