On this podcast, episode 137, Adrian and Ariel discuss a Toronto developer’s intention to buy $1 billion in homes to convert into rental properties. Now this investment strategy’s possible influence on Canada’s housing market is being debated.
According to the Globe and Mail, the corporation plans to buy 4,000 rental properties across Ontario, Quebec, British Columbia, and Atlantic Canada by 2026. The idea is to buy houses that can be divided into two apartments — for example, one with a second unit in the basement — and then rent both out.
In Canada’s multi-family apartment rental sector, corporate investors such as private equity firms, real estate investment trusts (REITs), and financial institutions have become increasingly prominent. While turning single-family homes into rentals is a frequent investment strategy in the United States, it is thought to be a first in Canada. Experts predict that if it is profitable, it will most likely be implemented.
“Rental availability in the low-rise single-family sector is severely limited. The most expeditious strategy to boost supply to the housing stock is to increase density by remodelling existing homes.”
All of that and more on KT Confidential – Real Estate Podcast.
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Watch the previous episode here:
KT Confidential E 136.
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The founders, Ariel Kormendy and Adrian Trott, started The Kormendy Trott Team, a real estate team based out of Halton region in Ontario, after both being in need of a change from their successful careers in the automotive industry and both experiencing the lack of service being provided in the real estate industry. They kicked off their careers in 2011 and quickly became a top-performing team in the country, ranking 17th of approximately 200 for Century 21 in 2017; as a team of just the two of them compared to much larger teams. They decided that they needed to take their team from being real estate agents in Milton to the rest of the GTA and beyond by expanding and servicing more areas. The team has since grown to have an administrative arm, media department and successful sales team operating a smooth running and successful business. Follow them on social for behind the scenes info, real estate tips, industry secrets and more.
