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Canada's landlords now asking a record-breaking average of $2,078 per month: rental report (www.ctvnews.ca)
submitted 3 years ago by to c/canada@lemmy.ca
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According to a new report from Rentals, In July, the Canadian rental market hit a record high with an average asking rent of $2,078, marking an 8.9 per cent annual increase.

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[–] 6 points 3 years ago

The money you pay into a mortgage doesn't evaporate. Only a portion of your mortgage is considered a cost (interest and fees and the like) the rest goes into your home equity.

If a tenants rent payment doesn't cover all of your mortgage, taxes and maintenance it does not mean your not making a profit.

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