According to Urbanation Inc.’s report on Greater Toronto Area real estate during the third quarter of 2016, the number of condo apartments rented in the GTA through the MLS system fell by nine per cent from a record high 7,651 units in the proceeding year.

Growth in applications like AirBnB, combined with increase cost of home ownership, is starting to have cause serious havoc in the Toronto real estate market. Rental activity slowed in part due to a 13 per cent drop in listings as the number of units in new projects registered during the…