22 Feb 2012

More Canadians looking into renting condos

With the economy still struggling in both the U.S. and Canada, more homeowners are deciding to downsize and move into a condo or an apartment, which can cause problems with finding adequate storage for all their possessions. Condos tend to be bought by people, but in recent years the option of renting condos has sprung up, Moneyville reports.

According to the source, some people who own their condos are against the idea of allowing renters into their buildings as owners understand that if they break something or create a mess, they are responsible for fixing the problem. However, with renters the lines are no so black and white. Owners who rent out their condos might also have a harder time selling it down the line over someone who lived in the condo they are trying to sell.

Although the market can be difficult, many might prefer the renting option, as they are not locked into the serious commitment that owning a condo comes with. It leaves options for people who hope to own a home down the line. Those looking to rent a space might also benefit from looking into affordable self storage in Toronto or anywhere else in order to store the items from their previous home that won't all fit in the condo. This way, they can enjoy the space without worrying about it becoming cluttered or too crowded. 

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