Description: The Toronto rental market is featuring an interesting switch in demand patterns. Younger renters were often prepared to put up with cramped apartments and high rents to live close to the action in the downtown. But with Covid-19 shutting down so much of the city’s social life in restaurants and bars, renters are heading for bigger (and cheaper) spaces outside the city’s core. As the article says, when you’re working at home all the time, you may not care to sleep in your office.
Date: November 8, 2020
1) Do you know anyone who has made a shift from a city center to outside the downtown in recent months? What impacted their decision?
2) Do you think that there will be a return of renters to the downtown when the Covid challenges subside?
3) Wiley’s Financial Accounting: Tools for Business Decision-Making provides a five-step model for recognizing revenue under IFRS (see pages 4-6 and 4-7). Discuss with your classmates how a rental company would apply the five steps in recognizing revenue from apartment tenants.