TorontoRentals Is Expanding to Meet Growing Demand in Toronto Rental Market

TORONTO, Oct. 6, 2015 /PRNewswire/ -- TorontoRentals, an online apartment listing website, is expanding their business and apartment listings to meet the growing demand of Toronto renters, just as the city tops rankings in "best area to live" index. Started in 1995, TorontoRentals receives thousands of visitors each day searching for available apartments, condos, townhouses and other homes to rent.

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In a recent Safe Area Index 2015 list, provided by The Economist, Toronto ranked among the top in six indicators including livability, cost of living, business environment, democracy and food security. The ranking is indicative of a growing population as Canadians and international visitors make Toronto home.

The growing population has driven up the demand for rental properties including homes, townhouses and apartments. After stagnating for two decades, information from the Canada Mortgage and Housing Corporation shows construction of rental buildings is on the rise in Toronto. Starting in the summer of 2015, there were eight new apartment buildings, containing a total of 2,458 rental units, under construction in the Toronto area. Another 37 buildings containing 9,207 units were proposed to meet projected demand. That's nearly a 75 percent increase over the 6,723 rental units that have been built in the Greater Toronto Area since 2005. Furthermore, the vacancy rate in Toronto remained stable at 1.6 percent from the fall of 2013 to the fall of 2014.

Renters, particularly those moving to Toronto from out of town, are turning to the internet as an initial stop to search for rental properties, driving the need for online marketing and visibility of rental properties. People looking for rental property demand selection and variety to make comparisons, and TorontoRentals seeks to provide the solution.  

"We are definitely in a hot rental market with a flood of new residents seeking properties to rent," says Ramon Tiwana, CEO of TorontoRentals. "Our website hosts thousands of visitors each day because quality of our listings provides renters an extensive amount of information about properties that are available including building features and even the surrounding areas."

On the website, buildings are searched by area utilizing an interactive map which connects to available listings. Each listing provides an overview of the building including type of rental and address, amenities and building features, and provides contact information with an email form. For each property, the unique apartment layout is provided separately along with current vacancies, and prices and specials, which are updated monthly.

TorontoRentals provides property management companies and owners an affordable rental listing site that connects them with rental seekers from all around the globe looking for a place to live. TorontoRentals is working to expand their reach to keep up with the growing consumer rental demand. Currently the site offers hundreds of buildings in many different areas and price ranges for potential renters to view. To view the most current listings or to list a property, visit TorontoRentals.com.

About TorontoRentals

Started in 1995, TorontoRentals.com has evolved into one of Canada's largest apartment rental sites with thousands of visitors each day. Filled with available apartments, houses, condos, townhouses and other homes to rent, TorontoRentals.com provides property management companies and owners an affordable rental listing site that connects them with rental seekers from countries around the globe viewing the website looking for a new place to live. To learn more or to view available apartments or list a rental, visit TorontoRentals.com.

Contact Information

Ramon Tiwana
[email protected]

Sources

The Economist – Safe Cities Index 2015

Vancouver Sun - By the numbers: A look at rental statistics in Toronto and Vancouver

SOURCE TorontoRentals