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The explosive rise in housing prices locally has spilled over into the rental market where landlords are able to set exorbitant prices for empty rental units.
“We’ve been looking for a place for 11 months,” said Matt Ruiss. “The landlords can be very, very picky because they have 50 to 175 applicants and are gauging what you think the rental is worth so they can create a bidding war.”
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The shortage of rental units – both apartments, homes and portions of houses – means money often talks, agrees Ray Petro, president of the Brantford-Brant Real Estate Association.