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More landlords converting units into short-term rentals

Amid a housing shortage and increasing rental and mortgage costs, Ontario landlords are converting their long-term rental units into short-term leases in order to make more money and face fewer challenges with the province’s backlogged tribunal. Delays at the tribunal mean landlords often cannot evict non-paying tenants in time, leading to bankruptcies or property sales. The trend is driven by landlords looking to take back control of their properties and make more money, as well as by people unable to keep up with rent.

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