Marissa,By allowing pets you increase the potential pool of tenants.We allow (with limitations, no vicious breeds) pets.Get a non refundable "pet Deposit" and charge monthly "pet rent, or just increase the base rent amount.Pet lovers don't bat an eye at these charges and they tend to stay longer in my  experience.

The only problem with that tends to be deal flow.  

LI properties also tend to be more palatable to lenders when it comes to financing since they usually encompass business types a lender can understand.

People tend to look at recent and current trends as the new normal.

I tend to agree with a lot of what Jason wrote above, but IMO it isn't what caused the crisis.

@Filipe Matos Oren K. brings up a good point, Toronto is its own little microcosm and, it ay tenants use their ability to appeal during any stage of the process, the Tenant Board tends to be severely backed up which could effectively double the timelines in the act.

Details perhaps for a later time.What I did want to share is two of my favorite ridiculous correlations just to throw caution to the wind on how we tend to treat correlations where a correlation may not truly exist.Would you  believe:1.  

And yes it does tend to chase the competition away.

You'll tend to lose rent between tenants with painting, etc but if they stay for years there isn't a day of missed rent during that time.

I still tend to my little herb garden, but it is looking a little shabby.What do they say about the cobbler's son has no shoes?