1. Price speculation. Owners are willing to take a loss each month assuming they will make it up on appreciation. This is very true for condos in Toronto for example. Rent is about $500-1000/month less than carrying costs of ownership.
2. Long-term ownership. Landlord bought the property for half the current market rate so carrying costs are way lower than if you’d bought today.
1. Price speculation. Owners are willing to take a loss each month assuming they will make it up on appreciation. This is very true for condos in Toronto for example. Rent is about $500-1000/month less than carrying costs of ownership.
2. Long-term ownership. Landlord bought the property for half the current market rate so carrying costs are way lower than if you’d bought today.