“It’s an upgraded rental living experience compared to a typical condo rental,” said Shaun Hildebrand, president of Urbanation. “They are bigger and there’s more attention paid to a unit.”

In recent decades almost all the new rental units built in Toronto were condominium apartments that individual investors and owners rented out to tenants. And while the aging purpose-built rental stock in the city can no longer compete in terms of amenities, those who manage the new purpose-built rentals would prefer if no one referred to their buildings as “condo-like.”

Source:  The Globe and Mail