Small landlords scrambling to accommodate rent reductions while making mortgage payments [Toronto Globe and Mail (Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
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Source: Toronto Globe and Mail
Small landlords scrambling to accommodate rent reductions while making mortgage payments David Cinelli, a sales representative with Royal LePage Signature Realty, is photographed outside 122 Howard Park Ave., on April 23, 2020. Due to the coronavirus pandemic, the rental market has dipped as fewer people are looking to rent. Fred Lum/The Globe and Mail David Cinelli, a sales representative with Royal LePage Signature Realty, is photographed outside 122 Howard Park Ave., on April 23, 2020. Due to the coronavirus pandemic, the rental market has dipped as fewer people are looking to rent. When businesses began temporarily closing amid the COVID-19 pandemic, several tenants in David Cinelli’s two rental properties lost income. The Toronto-based realtor and landlord reached out to his tenants, offering rent deferrals or partial payments to those who were struggling financially. And although Mr. Cinelli says he can sustain a rent reduction in the short term, he needs that money to pay th
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