At this point there is no financial incentive to rent.  consider an $800,000 condo.  At $2000/month you're looking at $24,000/year return, or 3%.  Take away income taxes for "passive" income, property taxes (which are skyrocketing), rising insurance costs, and you're lucky to realize 1% return on your asset.  It gets far worse if your letting out a house, with a value of $2+ million.   Toss in the habit of some tenants to not pay rent, then stall for a few months at the Rental Tenancy Board, and you're definitely not making money by renting.  Better to keep your unit vacant for your visiting friends and family.