SENIORS' RESIDENTIAL VACANCY RATE DIPS

Jun 19, 2014

By Bob Komsic

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The vacancy rate for seniors’ homes has decreased slightly the past year.

Canada Mortgage and Housing Corp says the rate for standard space fell below 10 percent this year compared to just above last year.

The rate in Ontario is at a shade below 14 percent.

A standard space is defined as one in which a resident pays market rent and gets 1.5 hours of care or less per day.

CMHC says the number of spaces has increased but was outpaced by the number of residents.

More than 218,600 seniors lived in the 2,799 residences surveyed.

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