Selling an apartment building isn’t always easy, partly because most buyers by law would need to assume the current tenants at their current rents. But the owners of a midtown three-storey brick apartment building for sale are offering buyers vacant possession, despite five out of six units being occupied.
How? Because its two-bedroom units are legally being used as short-term rentals of 28 days or longer — a loophole in Toronto’s short-term rental restrictions that housing advocates say contribute to home scarcity and drive up housing costs.
Already a Subscriber? Sign in
You are logged in