Media Central Corporation Inc (CSE:FLYY) said Thursday that its subsidiary NOW Central Communications Inc has launched its inaugural Renters Survey which will reveal the realities of renting in Toronto and help shape NOW’s future reportage on housing.
The results will be published in NOW’s March 26 issue, which is available across 800 newsstands and online at nowtoronto.com.
The media company said average rents were increasing, while the vacancy rate continues to hover around an unsustainable 1%. NOW has reported on the rise of renovictions, and how artists are being squeezed out and how more Torontonians are ending up in shelters because they can’t find an affordable home.
The company said the results will help to “unveil critical insights” on average rent by neighbourhood, the frequency of bidding wars and the percentage of renters who plan to buy homes and what kind of government action is needed.
The survey is being spearheaded by veteran staff writer Samantha Edwards.
"In my reporting, I've heard so many stories about tenants facing massive rent increases, evictions, poor conditions and how frustrating it can be to find an apartment in Canada's biggest city, given its low vacancy rate," said Edwards.
"Statistics around specific tenant issues though, are thin; which is why we decided to launch the Renters Survey, to find real numbers and data to quantify Toronto's real housing crisis," she added.
In addition to the rental survey, NOW is also launching a housing and real estate advice column called Resident Expert, which will appear online every two weeks on Thursdays, starting from February 6.
The company noted that Toronto is changing rapidly and “living affordably and comfortably” can be a “significant challenge.” The Resident Expert column is for readers who rent, own and are buying in the city and need practical advice.
Toronto residents would need to earn close to a six-figure salary to afford an average home and drive a Honda Civic – the city's top-selling car – according to a report published by LowestRates.ca.
With over 25 million annual readers, NOW is one of Toronto’s leading weekly news and entertainment voices. Media Central is an independent and alternative media company focused on acquiring and developing high-quality publishing assets.
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