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Shortage of Rental Properties

Toronto homeowners can make a killing by renting out their half-finished basement or guest bedroom. That's because an annual population influx has created an acute rental crisis. Over 31 per cent more condos are leased in 2014 than in 2013. That's led developers like the Daniels Corporation to build rent-to-own properties for those buyers struggling with saving the five per cent downpayment. While buyers have to be preapproved by RBC, Daniels says the unique program has gone without a hitch. [Condo Ca]