Toronto Real Estate members reported 3,859 Condos were rented through the MLS from September through December 2009.

The last four months of 2009 saw the average rent for all transactions $1,667 with a one per cent decrease for one-bedroom Condos and a one per cent increase for two-bedroom Condos.

According to the CMHC  the average Condominium rental vacancy rate increased from 0.4 per cent to 0.8 per cent between 2009 and 2009. The number of rented Condominium apartments increased by 6,900 units.

Toronto Central districts recorded the most leased transactions in the last third of 2009 with 2,162 Condos leased.

• 1,251 were one-bedroom Condos: Average rent $1,540 per month
• 774 were two-bedroom Condos:Average rent $2,174 per month
• 70 Condominium Townhouses:Average rent $2,725 per month

More investor-held Condos are making their way on to the Condo rental market because of the numerous Condominium completions. This will increase the Condo vacancy rate in the near future.