As well as the buying and selling market, Toronto's rental sector is unstable. According to latest reports, for the city to return to a stable situation, it would be necessary to add some 8,000 new units destined for rent per year. A report offered by the Ryerson University's City Building Institute emphasizes the low supply of profitable properties in Toronto. The rate has been below 3%, considered the minimum level indicative of a healthy market. This means that it is difficult for tenants to find suitable and affordable housing. According to the same report, one of the main reasons why the rental market has deteriorated and decreased so much is the excessive dependence on private condominiums In the last ten years, the Toronto area rental market has only grown by 2,400 specifically built rental units, while 76,000 private rental condominiums have joined the market as rents, the report states. In other words, in the last decade, the growth in the Toronto area rental market has been entirely dependent on individuals and managers of commercial properties who buy condominiums and place them in the rental market. It is known that condo rentals are less stable for tenants, as owners can use their own provisions in the properties. Also, the report indicates that the dependence of the condominiums for rent has contributed to the real estate speculation, which has helped to raise the prices of the properties. And it is this excessive dependence on condominiums that has made most developers favor condo projects over rental projects. In order to balance the market, the report proposes that the 8,000 new rental units will guarantee a sufficient supply for the thousands of Toronto residents who seek housing each year. Among its public policy recommendations, the report states that municipalities must introduce unitary unit taxes throughout the Toronto area, as well as regulate short-term rents, which are issues that the City of Toronto has previously examined. Municipalities should also have more incentives for all rental developments. Expanded incentives are required to ensure that new regulations do not diminish interest in development, says the report. A healthy housing system must address all residents' housing needs, regardless of their income, background or stage of life, the report said. Doing things right means a more affordable, more attractive and more competitive region to call home. The review of the said report and the consideration of the measures offered there will be on the part of the governmental bodies. If you are looking for a property to rent, do not hesitate to contact me and I will gladly advise you.