On paper, Kendra Chaplin is an ideal tenant: a registered massage therapist with a good credit score and strong rental history.
After less than a year at her current Liberty Village apartment, her landlord told her to leave so they could move into the unit.
But when she went to apply, she says she was told she would need to make at least $76,000 a year for her application to be considered, even with a good credit score and proven employment.
I hadn’t heard of that before,” said Chaplin, who says her income falls just below that benchmark.
After a lull last year due to the pandemic, Toronto’s rental market has officially bounced back as demand has increased while available inventory is down compared to this time last year.
The TRREB report suggests this is a trend that will continue for at least the next few years, stating, “We have seen a dramatic resurgence in rental demand this year.
“They’re going to look for A-plus tenants with credit that is absolutely perfect.
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