Leah Zlatkin quoted in the Toronto Sun: ‘Are condos still a good investment?’

https://torontosun.com/life/homes/are-condos-still-a-good-investment

The problem for condo investors is that, between maintenance fees and mortgage rates, carrying costs leave them in the red. This is especially true for unit-owners in buildings registered no later than November 15, 2018, which are rent-controlled.

“These people are paying interest rates in excess of six, seven per cent, and the yearly rent increase is about three per cent, but many of them struggle finding qualified renters,” said Leah Zlatkin, a mortgage broker with Mortgageoutlet.ca.

Zlatkin points to research from the Canadian Housing Statistics Program indicating 43 per cent of Toronto condos are investor owned.

“The dollars and cents aren’t necessarily there for a lot of condo investors right now,” she says.