Canadian Apartment - May-June 2026

VOLUME 23 / NUMBER 3 / MAY/JUNE 2026

WHO’S

WHO 2026

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CANADA’S NEW

RENTAL REALITY

THE FORCES DRIVING OCCUPANCY

IN TODAY’S CHALLENGING MARKET

PART OF THE

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plus

GEN Z INSIGHTS

REDUCING

TURNOVER

ZONING REFORMS

P A R T O F T H E

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EDITOR’S NOTE>>

LEASING IN 2026

With vacancy rates rising across most Canadian cities, renters now

hold the leverage — and they’re using it. The operators thriving in

this new landscape are the ones embracing flexibility, transparency,

and a genuine understanding of renters’ expectations for value,

rather than relying on the old “take it or leave it” approach that

once dominated.

In this issue, we examine how renter demographics and

preferences have shifted, and what that means for Canadian rental

housing providers as they head into the summer leasing season.

The goal is clear: fill vacancies faster and maintain occupancy yearround.

Success today comes from treating renters as informed

partners, not passive applicants endlessly cycling through a

revolving door.

Our cover story highlights a major purpose-built rental

community called Rose Towers, which is now underway in

Brampton, Ontario — an ambitious project designed to meet the

evolving needs of a growing local workforce. Even as many markets

experience softening demand, joint developers Skyline and Solmar

Development Corp remain confident in Brampton’s long-term

momentum and ability to attract tenants seeking high-quality

rental options for the long run.

You’ll also find our annual Who’s Who ranking of Canada’s

top rental housing providers — organizations that continue to

strengthen the sector despite today’s heightened pressures. It’s

always interesting to see which companies are leading the industry

forward, delivering and managing sought-after rental homes in

markets of all sizes.

Thank you for your continued readership, and I hope you enjoy

the issue. Please reach out with any questions, concerns or story

ideas. I’d love to hear from you!

Sincerely,

Erin Ruddy

rent trends NATIONAL AVERAGE RENT – MAY 2026

$2,679

-5.3%

$1,869

-3.8%

Avg. Rent Total

$1,603

-1.2%

$1,452

5.6%

$1,662

0.2%

$2,027

-4.7%

$2,504

-4.4%

$1,971

-1.3%

$2,256

-1.4%

Source: Rentals.ca

ZONING REFORMS


PART OF THE

P A R T O F T H E

PART OF THE

P A R T O F T H E


FEATURE

12 THE NEW TENANT

DEMOGRAPHIC

Who’s driving demand

this summer and beyond

by Erin Ruddy

16 WHO’S WHO

Canadian Apartment’s

official 2026 ranking

28 CLIMATE ACTION

AT A CROSSROADS

Navigating the

complexities and

challenges of

decarbonization

by Erin Ruddy

COLUMNS

6 Transactions Q2 Rental Market Update

8 CMHC Report Housing Accelerator Fund Gains Momentum

32 Newsworthy Industry Hot Topics

36 Ask the Expert From Leases to Loyalty

COVER STORY

24 ADDRESSING BRAMPTON’S RENTAL BOOM

The Rise of Rose Towers

by Erin Ruddy

DEPARTMENTS

2 Editor’s Note

38 Smart Ideas

CANADA’S NEW

RENTAL REALITY

THE FORCES DRIVING OCCUPANCY

IN TODAY’S CHALLENGING MARKET

ON THE COVER:

Rendering of the Rose

Towers in Brampton,

Ontario

plus

GEN Z INSIGHTS

REDUCING

TURNOVER

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Q2 Rental Market Update

Stability and selective softening create new opportunities for investors

Rental demand in Canada has entered a period of measured stability, shaped by shifting immigration policy, softer

labour conditions, and persistent uncertainty in the ownership market. These forces are subtly reshaping how renters,

landlords, and investors engage with today’s purpose-built rental landscape.

According to recent data, demand has cooled from the exceptional

highs of recent years. The federal government’s reduced intake targets

for international students and temporary foreign workers have eased

some of the pressure that previously drove rapid absorption. At the

same time, a weakening job market has slowed household formation,

contributing to a more balanced environment overall.

Even so, rental demand remains resilient, supported by widespread

hesitation in the home purchase market. Elevated interest rates and persistent

affordability challenges continue to steer many would be buyers

toward long-term renting, reinforcing the sector’s stability.

This recalibration has introduced downward pressure on rents, particularly

in higher priced submarkets where affordability limits have

New & Notable Transactions

Source: Morguard

Address Market Sale Price

(millions)

No. of

Units

Sale Price/

Unit

Sub-Type

Purchaser

1.

150 Roehampton Ave Toronto $90.8 148 $613,176 High Rise Torimmo Inc.

2.

3.

Winding Trail Garden Homes 1350,

1400 Winding Trail

1465 Lawrence Ave W,

1450 Sheppard Ave W

Toronto $45.0 149 $302,013 Townhomes

FAX Real Estate/

Distrikt Capital

Toronto $106.1 345 $307,391 High Rise Dream

4.

The Capri 630 Vesta Dr Toronto $26.1 70 $373,286 Mid Rise

Gowan Property

Management

5.

Vee Rental Condos 3405, 3409,

3413 Rene-Laennec Blvd

Montreal $35.5 98 $362,245 Mid Rise Groupe Khoder

6 | Canadian Apartment | Part of the REMI Network

TRANSACTIONS >>

been reached. In Canada’s most expensive cities — Vancouver and Toronto

— landlords are increasingly offering incentives such as modest

free rent periods to sustain occupancy. While not universal, these concessions

mark a notable shift after years of exceptionally tight vacancy.

“Despite these adjustments, overall market conditions remain healthy

by historical measures,” said Keith Reading, Director of Research at

Morguard. “Investors, in particular, continue to show confidence in the

long-term fundamentals of the purpose-built rental asset class.”

Reading noted that acquisition pricing has stabilized following a

period of recalibration. Premiums are now concentrated on new

builds and well located concrete high rises, reflecting investor preference

for durable, low-maintenance assets with strong long-term rent

growth potential.

Meanwhile, investment demand continues to exceed the supply of

high-quality stabilized properties, creating a competitive bidding environment

for top tier assets. This imbalance underscores the sector’s

enduring appeal, even as short-term dynamics evolve.

Taken together, the Canadian rental market is transitioning from

a period of intense pressure to one of measured equilibrium — a

phase defined by stability, selective softening, and sustained longterm

confidence.

ARE YOU CONTEMPLATING THE SALE OF

YOUR APARTMENT PROPERTY/PORTFOLIO?

Consider the following:

• Who will represent your best interests?

• Who will give your property maximum exposure?

• Who will deliver the highest value for your Property/Portfolio?

With over 35 years of experience, tens of thousands of units sold, and hundreds of clients represented, we have

consistently delivered superior results. Through our local and national coverage, we create maximum exposure,

ensuring maximum value for your property.

For more information on recent transactions and active listings, please reach out to a member of our team.

For more info, please contact:

David Montressor

Vice Chairman

Sales Representative

(416) 815-2332

david.montressor@cbre.com

Tom Schuster

Director

Sales Representative

(416) 847-3257

tom.schuster@cbre.com

±$11B Sales Volume ±68,000 Suites Sold ±35

Years

of Experience

Scan to receive

Apartment Listings

and Market Research

SOLD FOR $45,000,000

Winding Trail Garden Homes

Mississauga, ON

149 Townhome Units

SOLD FOR $26,130,000

630 Vesta Drive

Toronto, ON

70 Suites

SOLD FOR $72,000,000

1551 Lycée Place

Ottawa, ON

258 Suites + Commercial

ACTIVE LISTING

233 Dunlop Street West

Barrie, ON

93 Suites + Commercial

This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and

estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume

any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information

prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and

the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved.

www.REMInetwork.com | May/June 2026 | 7

Housing Accelerator

Fund Gains Momentum

Data points to faster approvals, zoning reforms,

and rising permit volumes

Canada’s Housing Accelerator Fund (HAF) is showing measurable progress as municipalities advance policy changes

aimed at boosting housing supply. According to the latest federal update, issued in May, 32 municipalities have met

or exceeded their HAF commitments, making them eligible for additional reinvestment to support continued reform.

“

Our government is removing barriers and

cutting red tape to enable more housing

in communities across Canada,”

said Gregor Robertson, Minister of Housing and

Infrastructure and Minister responsible for Pacific

Economic Development Canada. “We reward

local governments that are delivering real results

and building more homes faster. By reinvesting in

proven success, we are helping more Canadians

access the housing they need.”

Since its launch in 2023, municipalities participating

in HAF have issued more than 334,000

residential building permits, with early data indicating

that the program is already contributing

to faster approvals and increased construction

activity. Local reforms span a wide range of initiatives

— from accelerating laneway housing

approvals to updating zoning bylaws that permit

as-of-right multiplexes in low density neighbourhoods,

enabling more small-scale rental housing.

Several cities have also introduced fast-track

approvals for purpose-built rentals or eliminated

minimum parking requirements near transit to reduce

construction costs and encourage density.

Successful action plans underway

According to CMHC’s new HAF Progress Tracker,

launched in January 2026, Calgary remains on

track to deliver more than 6,800 new homes, supported

by over $228 million in federal funding. The

city is currently advancing seven major initiatives,

including accelerated approvals, zoning reforms

to expand missing middle options like rowhouses

and townhomes and increased affordable

housing development. Calgary has seen a sharp

rise in housing activity over the past two years, and

HAF supported measures — such as streamlined

permitting, digital modernization, and higher

density infill — are helping sustain that growth.

Toronto is making significant progress, as well.

Supported by $471.1 million in federal funding,

the city has achieved 37.5 per cent of its three

year target for 60,980 net new permitted homes,

completing 21 of 35 milestones in its Action Plan.

Toronto is advancing eight major initiatives in all,

including activating more than 50 City-owned

sites for rent-controlled and affordable housing,

allocating $351 million to unlock nearly 6,000

rental homes, and introducing new incentives for

purpose-built rental development.

Guelph, Ontario, is accelerating housing


CMHC REPORT >>

delivery through a new multi-unit accelerator

grant, backed by $2 million from the Housing

Accelerator Fund. The program fast-tracks select

projects by supporting faster permitting

timelines and offering up to $10,000 per unit

for eligible developments. The initiative aims to

help advance 1,000 new housing units by the

end of 2026, reinforcing Guelph’s commitment

to speeding up approvals and increasing supply.

Moncton is one of eight New Brunswick municipalities

receiving a share of $2.9 million in

reinvested HAF funding for meeting or exceeding

program expectations. The NB communities

have each demonstrated strong progress by

adopting zoning reforms and increasing housing

output — including Riverview, which is using its

reinvested $492,000 allocation to purchase land

for future affordable housing development and

advance a Neighbourhood Growth Strategy that

supports higher density, mixed-income housing.

Across Canada, the 32 municipalities that have

met or exceeded their HAF commitments have

earned $42 million in reinvested federal funding

to support 1,300 additional residential building

permits. These communities — representing a

mix of large cities and mid-sized municipalities

— have advanced a range of reforms, including

as of right multiplex zoning, fast-track approvals,

and reduced parking requirements near transit.

Together, these measures are helping to accelerate

construction timelines, lower development

costs, and support sustained growth in housing

activity nationwide.

Funding boost brings new rentals

to Scarborough

27-storey development underway at 26 Gilder Drive

As part of Canada’s broader strategy to address the housing crisis, the federal

government and the City of Toronto have announced over $160 million

in combined funding to help support the construction of 341 new rental

homes in Scarborough, Ontario. Led by the Rose Corporation, 26 Gilder

Drive is a 27-storey mixed-market and affordable rental apartment in the

Eglinton East neighbourhood of central Scarborough. The property is positioned

on surplus land adjacent to an existing apartment complex, school,

and park, and just 800 metres from the Kennedy & Lawrence transit hub.

In the announcement, federal officials emphasized that investments in

rental housing strengthen supply chains, support job creation, and contribute

to a more resilient national economy.

“It’s clear that housing is one of the top priorities for people in Scarborough,”

said Michael Coteau, Member of Parliament for Scarborough–Woburn.

“Our federal government is delivering on its commitment

to build more homes through strategic investments like this one.

The more homes we build, the more opportunities we create for people

across our community.”

The project is supported by $149 million in fully repayable federal

loans through the Apartment Construction Loan Program (ACLP) and

$11.4 million from the City of Toronto’s Rental Housing Supply Program.

The ACLP — a $55 billion initiative under the National Housing Strategy

— provides low interest loans to encourage construction of purpose-built

rentals for middle income Canadians. As of December 2025,

CMHC has committed $29.45 billion through the program to support

more than 74,600 new rental homes nationwide.

“The Rose Corporation is proud to deliver these affordable and market

rental homes to help address the evolving housing needs of the Scarborough

community,” said Daniel Berholz, president, The Rose Corporation.

“This project simply would not have happened without the support and

partnership of CMHC and the City of Toronto, and we’re grateful for their

commitment to the delivery of purpose-built rental housing during a very

challenging market.”

For more on this project, visit: www.rosecorp.com/26-gilder-drive.

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THE OUTDOOR

SMART LOCK

MULTIFAMILY

HAS BEEN

WAITING FOR

Smart access has reached every corner of

multifamily housing except the doors that face

the weather, but that is finally changing.

Not every apartment unit sits behind a climate-controlled

corridor; plenty of rental portfolios include buildings

where every unit door opens directly to the outside,

and every lock on those doors is exposed to the harsh Canadian

weather year-round. Think garden-style complexes. walk-ups

with open breezeways, ground-floor patio units, townhomestyle

stacked rentals, bungalow clusters, casita communities,

and cabin-style resort properties. At turnover, someone is

out there with a rekeying kit, standing in the rain or the cold,

swapping pins on a mechanical deadbolt that could have been

replaced years ago if only there had been a better option that

could survive everything Mother Nature could throw at it.

Inside those same buildings, the access control story is

different. Lobbies, amenity rooms, mail centres, fitness areas,

and parking garages run on cloud-managed platforms that issue

and revoke credentials remotely, log every access event, and

eliminate rekeying entirely. Residents expect it: NMHC reports

that 67 per cent of renters now want keyless entry. The gap is not

inside the building; the gap is at the building envelope.

WHERE THE WORKAROUNDS BREAK DOWN

Property managers have tried to close that gap: some installed

consumer-grade smart locks on exterior doors, but the electronics

corroded and keypads froze. Warranty claims went nowhere

because the locks were never rated for outdoor use. Others stuck

with mechanical deadbolts and absorbed the costs: rekeying

at every turnover, managing duplicate key inventories, and

accepting the security liability of credentials that can be copied

at any hardware store for a few dollars.

Neither approach is scaleable. A 150-unit garden-style

community with two turnovers per unit per year is rekeying

300 locks annually. That involves labour, parts, coordination,

and time a maintenance team could spend on work that actually

improves the property. Meanwhile, the exterior doors remain the

only access points on the property without audit trails, remote

credential management, or the ability to reissue a lost key instantly.

SPONSORED CONTENT

WHY DID THE HARDWARE NOT EXIST UNTIL NOW?

Building a smart lock that survives outdoors is not a matter

of simply adding a rubber gasket; the electronics have to

function reliably in temperatures from -35º to over 60º. Those

temperature extremes stress batteries, digital displays, and

the delicate interior electronics like wireless antennas at each

extreme. The housing needs an IP55 rating to resist dust and

water from any angle. The lock still has to meet fire door

assembly standards, because many exterior-facing unit doors

sit on rated openings. ANSI/BHMA Grade AAA certification and

a UL 10C fire rating of 180 minutes on metal doors are code

requirements in multifamily, not optional upgrades.

It also must fit existing holes. Retrofitting a rental property

does not come with the luxury of reframing doors. Whatever

goes on needs to drop into the existing deadbolt door prep, the

standard round bore hole that mechanical deadbolts have used

for decades. A product that requires new holes or hardwired

power is a non-starter when people are living behind those

doors, and the budget has to work across the portfolio.

A DEADBOLT THAT CHECKS EVERY BOX

Salto has addressed this challenge with the new DBolt Touch

Outdoor, a smart deadbolt built for exterior residential doors

that meets the benchmarks and code requirements above. It

runs on three AA batteries rated for up to 85,000 cycles, fits

into a standard deadbolt hole with no additional drilling or

door modification, and a maintenance tech can swap out a

mechanical deadbolt with a screwdriver.

The touchpad accepts RFID cards and fobs, NFC credentials,

Bluetooth digital keys, and PIN codes. That credential range ties

outdoor doors back into the rest of the building, so a resident

with a single card or phone can now move from parking garage

to lobby to elevator to fitness room to their exterior-facing front

door - with one key.

WHAT CHANGES ON THE OPERATING SIDE?

The exterior door joins the same managed smart access

ecosystem as every other door and access point. Credential

issuance, revocation, and audit logging happen in one platform,

so rekeying disappears and the security gap at the building

envelope closes.

The resident experience is upgraded: a renter in a garden

walk-up or a ground-floor patio unit gets the same modern

keyless convenience that luxury high-rise residents have had

for years. Their front door works the same as the pool gate,

workout room door, and main entrance. For multifamily owners

competing for tenants in a tightening rental market, that parity

matters. The fact that the unit door faces a snowstorm instead

of a hallway no longer means it gets left behind.

For more information: saltosystems.ca

The New Tenant

Demographic

Who’s driving demand this summer and beyond

by Erin Ruddy

After years of unprecedented population growth, record-low vacancies, and bidding wars for high-priced apartments,

Canada’s renter base is undergoing a fundamental shift. For apartment owners, understanding this new

demographic reality is quickly becoming a competitive advantage.


FEATURE >>

According to new analysis from Quebec-based rental platform

liv.rent, slowing population growth, rising vacancy rates, and a

cooling labour market are reshaping who is renting across the

country. CMHC data reinforces this trend: national purpose-built rental vacancy

reached 3.1 per cent in October 2025, up from 2.2 per cent a year

earlier. Meanwhile, Statistics Canada reports that immigration fell 17.2

per cent in Q3 2025 compared with the same quarter in 2024, with 102,867

newcomers admitted versus 124,266.

Together, these shifts have produced a renter population that is older,

more local, more price sensitive, and more focused on value than at any

point in recent memory.

A “post immigration” rental market

For much of the past decade, newcomers to Canada were a primary driver

of rental demand in major cities. But with immigration declining sharply in

2025, and non-permanent resident (NPR) inflows reversing, the 2026 renter

pool looks markedly different.

“The net loss of 290,392 non-permanent residents in 2025, compared

with a net gain of 319,506 the year before, marks one of the sharpest demographic

reversals in Canada’s history,” notes liv.rent’s 2026 rental report. “All

provinces except Nunavut moved from net gains to net losses. This shift is

being driven by layered federal restrictions on international students, post

graduation work permits, family open work permits, and temporary foreign

workers — and it’s reshaping rental demand in real time.”

For apartment owners, this means fewer tenants cycling through shortterm

leases tied to settlement patterns, and more renters who are already

rooted in their communities. Seasonal volatility around academic calendars

is easing, and Canada’s renter base is becoming not only more stable but

also more selective. Local renters compare properties more rigorously, negotiate

more assertively, and move quickly when expectations aren’t met.

This behavioural shift is reinforced by a softening labour market and

slower household formation. Asking rents fell 3.2 per cent nationally in 2025,

even as rents paid by existing tenants continued to rise. The result is a renter

population newly empowered to demand value.

Older, affordability-driven households

With affordability concerns at their highest point in decades, a new class

of “reluctant renters” has emerged — middle income households who, in

previous cycles, would have transitioned into homeownership but can no

longer make the leap. CMHC reports that national home prices averaged

$653,000 in early 2026, down 2.6 per cent year over year yet still far out of

reach for many.


FEATURE >>

These reluctant renters are typically in their 30s and 40s. Many are dual income

professionals seeking stability rather than transience, and they expect

condo-level finishes, amenities, and service standards. According to housing

analysts, they tend to stay longer than younger renters but are highly

sensitive to total monthly costs, including utilities, parking, and amenity fees.

They reward transparency and penalize hidden charges. They prioritize accessibility,

quiet, well maintained buildings, and predictable rent increases.

While younger renters remain active — especially in major city centres

and university hubs — older adults now make up a growing share of tenants,

particularly in secondary markets where affordability is stronger.

The Gen Z renter

Gen Z renters in 2026 differ sharply from the millennials who entered the

market a decade earlier. They are more budget-conscious, more mobile,

and more digitally oriented.

Key traits include:

• A preference for smaller units if it means lower rent

• Strong reliance on transit over parking

• High expectations for digital leasing, digital maintenance requests,

and digital communication

• Low tolerance for outdated finishes or slow service

• A willingness to move — locally or across provinces — if dissatisfied

This cohort is shaping demand for compact, efficient units and seamless

digital experiences.

The defining trait of the 2026 renter

Across every age group, the defining characteristic of the 2026 renter is value

sensitivity. Rising supply, slowing demand, and moderating rent growth have

shifted the balance of power. New rental completions and an influx of condo

units expanded inventory in 2025, while weaker labour markets and reduced

immigration softened demand.

“Rental operators are grappling with a deluge of supply at the moment

due to intense competition from the condo market and a surge in tenants

moving to get a better deal,” said Shaun Hildebrand, President of Urbanation.

“Supply pressures will persist this year as apartment completions run

high and population growth slows, creating a window of opportunity for

renters to capitalize on improved affordability.”

As a result, tenants are asking more pointed questions: What am I getting

for this rent? Are utilities included? Is parking negotiable? Are the amenities

genuinely useful?

Owners who can answer these questions clearly — and competitively —

are the ones most likely to outperform the market.


SPONSORED CONTENT

WHEN THE

MARKET TIGHTENS,

INTELLIGENCE WINS

By Peter Altobelli, President, Yardi Canada Ltd.

The numbers tell a clear story. Canada’s national apartment vacancy rate reached 5.1% in Q1 2026 while new

lease rents turned negative nationally, falling 1.0% lease-over-lease, as per Yardi’s Canadian National Multifamily

Report. Eight of the top 12 CMAs recorded declining new lease rents. Annual turnover hit 25.8%, with Calgary and

Saskatoon pushing past 40%. Meanwhile, expenses averaged $8,053 per unit nationally, rising faster than income

across most markets.

Operators are being asked to do more with the same teams, protect margins

in a softening rent environment and manage higher unit churn, all at once.

The question is no longer whether technology can help. It’s who is using it,

and how well.

compounds fast. AI-powered inspection workflows, where a technician narrates

a video walkthrough and the system generates the inspection record

and work orders automatically, are reducing turn time without changing what

expertise is required on the ground.

Converting more with the same pipeline

How renters find apartments has shifted fundamentally. AI-powered search

tools now synthesize listings, reviews and property content to generate

recommendations, meaning properties without a structured digital presence

may not appear at all. At the same time, digital prospect conversion

rates vary sharply across Canadian markets, from 5.4% in Halifax to 13.1%

in Saskatoon. In a market where new lease rents are declining, converting a

higher share of existing prospects is worth more than chasing incremental

volume.

AI-assisted leasing systems are handling thousands of prospect conversations

across Canada today: availability questions, tour scheduling and follow-ups

that reference what the prospect actually asked about. A personalised follow-up

that references a prospect’s specific unit preferences, move date and

pet policy converts at a higher rate than a generic one.

Operations: Every turn, every invoice

With national turnover at 25.8% and climbing, the cost of inefficient unit turns

On the expense side, AI is being applied to invoice approval workflows, with

estimates suggesting operators can recover 6,500+ hours for every 100,000

invoices processed. Separately, AI-assisted vendor payment term analysis is

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IN THE CANADIAN

APARTMENT INDUSTRY

MANAGE ONLY NUMBER OF UNITS OWN ONLY

NUMBER OF UNITS MANAGE & OWN NUMBER OF UNITS

MetCap Living

Management Inc.

21,219

Cogir Real Estate 19,550

Sterling Karamar Property

Management

19,041

Tribe Management Inc. 15,918

Greenwin Corp. 15,370

Devon Properties Ltd 14,315

Briarlane Rental Property

Management Inc.

11,857

GWL Realty Advisors 9,560

Berkley Property

Management Inc.

7,660

Kipling Realty Inc. 5,953

Globe Capital Management 8,006

Oxford Properties Group 5,522

Crestpoint Real Estate

Investments Ltd.

2,886

Shindico Realty 2,265

Fiera Properties 2,222

NexLiving Communities

Inc.

2,200

Dream 2,154

I.G. Investment

Management, Ltd.

1,757

Westcliff Ltee 1,350

Sabjoy Inc. 1,216

Starlight Investments 52,191

CAPREIT 45,905

Boardwalk REIT 34,576

Homestead Land Holdings

Limited

27,200

Realstar Management 22,232

Hazelview Investments Inc. 21,739

Centurion Asset

Management Inc.

20,665

Skyline Apartment REIT 20,457

Mainstreet Equity Corp. 19,292

Killam Apartment REIT 17,927

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CANADIAN APARTMENT WHO’S WHO 2026

RANK UNITS BUILDINGS

MANAGE OWN BOTH TOTAL MANAGE OWN BOTH TOTAL

1 Starlight Investments 52,191 52,191 807 807

2 CAPREIT 45,905 45,905 -

3 Boardwalk REIT 183 34,576 34,759 -

4 Homestead Land Holdings Limited 27,200 27,200 210 210

5 Cogir Real Estate 19,550 5,304 24,854 161 37 198

6 Centurion Asset Management Inc. 2,497 20,665 23,162 149 149

7 Realstar Management 22,232 22,232 165 165

8 Hazelview Investments Inc. 188 104 21,739 22,031 2 1 210 213

9 MetCap Living Management Inc. 21,219 21,219 -

10 Skyline Apartment REIT 20,457 20,457 230 230

11 Mainstreet Equity Corp. 19,292 19,292 940 940

12 Sterling Karamar Property Management 19,041 19,041 217 217

13 Killam Apartment REIT 17,927 17,927 206 206

14 Greenwin Corp. 15,370 2,336 17,706 190 26 216

15 Tribe Management Inc. 15,918 15,918 197 197

16 Devon Properties Ltd 14,315 14,315 263 263

17 InterRent REIT 1,277 11,672 12,949 -

18 Northview Residential REIT 12,785 12,785 -

19 Medallion Corporation 12,171 12,171 90 90

20 Briarlane Rental Property Management Inc. 11,857 11,857 141 141

21 BentallGreenOak (Canada) Limited Partnership 11,767 11,767 64 64

22 Park Property Management Inc. 11,245 11,245 91 91

23 GWL Residential 962 359 9,725 11,046 7 5 39 51

24 Drewlo Holdings Inc. 10,899 10,899 89 89

25 GWL Realty Advisors 9,560 9,560 49 49

26 Morguard 70 8,137 8,207 1 26 27




27 Minto Group 773 7,269 8,042 12 114 126

28 Globe Capital Management 8,006 8,006 79 79

29 Berkley Property Management Inc. 7,660 50 7,710 89 2 91

30 Kipling Realty Inc. 5,953 5,953 41 41

31 Shelter Canadian Properties Limited 4,574 1,358 5,932 33 15 48

32 Oxford Properties Group 5,522 5,522 17 17

33 Osgoode Properties 412 5,010 5,422 2 23 25

34 Prospero International Realty Inc. 5,095 5,095 114 114

35 Concert Properties Ltd. 167 4,722 4,889 2 26 28

36 M&R Holdings 4,526 4,526 36 36

37 Kelson Group 4,443 4,443 61 61

38 Old Oak Properties Inc. 4,431 4,431 33 33

39 Williams and McDaniel Property Management 4,034 4,034 138 138

40 Equium Group 3,891 102 3,993 61 9 70

41 Shindico Realty 638 2,265 1,038 3,941 13 4 12 29

42 Lameer Management Inc. 3,030 565 3,595 186 26 212

43 RioCan 3,099 3,099 -

44 M Group of Companies 1,278 1,813 3,091 171 48 219

45 Crestpoint Real Estate Investments Ltd. 2,886 2,886 44 44

46 Colliers 2,695 2,695 52 52

47 Pacific Quorum Properties Inc. 2,465 2,465 133 133

48 O'Shanter Development Company Ltd. 349 2,040 2,389 3 25 28

49 Apollo Property Management Ltd. 2,244 2,244 19 19

50 Fiera Properties 2,222 2,222 19 19

51 Colonnade BridgePort 2,214 2,214 18 18

52 NexLiving Communities Inc. 2,200 2,200 60 60

Expect more media,

reach & conversions

Now with




53 Dream 2,154 2,154 18 18

54 Brown Group of Companies Inc., The 557 1,553 2,110 8 10 18

55 CLV Group 1,957 1,957 54 54

56 WJ Properties 1,938 1,938 14 14

57 Southwest Properties Ltd. 1,914 1,914 32 32

58 Twin City Management Ltd. 1,856 1,856 73 73

59 Rancho Management Services Corporation 1,757 78 1,835 14 1 15

60 DBS Developments 1,831 1,831 8 8

61 Provincial Property Management Limited 1,800 1,800 28 28

62 Lawrence Construction/Grant Management 718 1,043 1,761 7 15 22

63 I.G. Investment Management, Ltd. 1,757 1,757 10 10

64 AWM-Alliance Real Estate Group Ltd. 1,755 1,755 19 19

65 Warrington PCI Management 1,615 1,615 24 24

66 Avison Young (Canada) Inc. 1,556 1,556 -

67 BlueStone Properties Inc. 1,424 1,424 9 9

68 Dorset Realty Group Canada Ltd 1,404 1,404 59 59

69 Bedford Properties & Estates Ltd. 1,354 1,354 34 34

70 Westcliff Ltee 1,350 1,350 105 105

71 Niot Investments Holdings Ltd. 1,350 1,350 21 21

72 Anthem Properties 1,273 1,273 14 14

73 Westcorp Property Management 206 1,062 1,268 3 3

74 Brookfield Properties 1,250 1,250 -

75 Sabjoy Inc. 1,216 16 1,232 -

76 Crombie REIT 1,198 1,198 3 3

77 EPIC Investment Services 1,194 1,194 2 2

78 Hines 190 994 1,184 1 2 3

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79 Atlantis Realty Services, Inc. 1,161 1,161 15 15

80 CaraCo Property Management Ltd. 1,120 1,120 15 15

81 State Building Group 1,111 1,111 15 15

82 SmartCentres REIT 1,078 1,078 3 3

83 Transpacific Realty Advisors 1,000 1,000 25 25

84 Choice Properties REIT 923 923 -

85 NADG 867 867 2 2

86 Jones Lang LaSalle Real Estate Services, Inc. (JLL) 800 800 -

87 SolutionCondo/Rentalys Solution 728 728 52 52

88 Compass Commercial Realty LP 667 667 8 8

89 Equitable Real Estate Investment Corporation Ltd. 616 616 29 29

90 Cominar REIT 182 426 608 1 1 2

91 Shape Property Management Corp. 537 537 2 2

92 Royal/Kente Property Management 500 500 35 35

93 Real Estate 360 Property Advisory 482 482 14 14

94 Canlight Management Inc. 416 36 452 7 1 8

95 Arnon Corporation 441 441 3 3

96 Gulf Pacific Property Management Ltd. 421 421 5 5

97 Lionheart Property Management Inc. 400 400 -

98 Goodwood Property Investment Ltd. 400 400 3 3

99 Davpart Inc. 378 378 14 14

100 Virtus Diversified REIT 51 255 306 1 5 6

101 Narland Management 23 250 273 2 1 3

102 Downing Street Property Management Inc. 258 258 19 19

103 Canadian Urban Limited 166 166 2 2

104 Glenview Management Limited 145 16 161 1 1

See how

CRM IQ works

©2026 Yardi Systems, Inc. All Rights Reserved. Yardi, the Yardi logo, and all Yardi product names are trademarks of Yardi Systems, Inc.




105 Lanesborough Real Estate Investment Trust 115 115 2 2

106 Summa Property Management 111 111 4 4

107 Goldview Property Management Ltd. 108 108 4 4

108 Dayhu Investments Ltd. 89 89 -

109 Gitalis Group Inc. 80 80 -

110 Taft Management Inc. 78 78 6 6

111 Nicola Institutional Realty Advisors 60 60 1 1

112 Axwood 45 45 -

113 ICC Property Management Ltd. 38 38 4 4

114 Skywater Property Management 36 36 -

115 The Enfield Group Inc. 30 30 1 1

116 Regency Group 30 30 3 3

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ADDRESSING B

RENTAL BOOM

The Rise of Rose Towers


RAMPTON’S

BY ERIN RUDDY

In 2026, renter expectations across Canada continue to shift toward

high-quality, amenity-rich, transit-connected living — and nowhere

is this more evident than in Brampton, Ontario, one of the country’s

youngest, fastest growing, and most diverse cities.

With its population now surpassing 700,000, Brampton continues

to face sustained pressure to expand its rental housing supply. Unlike

markets where demand has softened, rental demand in Brampton

remains strong, driven by the city’s large share of newcomer

settlement, a growing workforce, and a significant proportion of

households seeking high-quality, purpose-built rental options.


COVER STORY >>

According to joint developers Skyline

and Solmar Development Corp., the

project aligns directly with Brampton’s

intensification strategy and its goal of creating

complete, connected communities, particularly

within the Queen Street Corridor — one of Ontario’s

designated Urban Growth Centres and a

future higher order transit spine.

“Rose Towers is designed to appeal to a

broad mix of renters seeking high-quality, professionally

managed rental housing in a well-connected

urban location,” said Greg Jones, President,

SkyDev. “We expect to attract interest

from young professionals, families, downsizers,

and long-term renters who want access to transit,

amenities, and modern rental options in Brampton’s

core.”

Jones noted that recent provincial policy

changes were instrumental in advancing the

feasibility of Rose Towers. The removal of HST

on new purpose-built rental construction, combined

with time-limited development charge

waivers from the Region of Peel and the City of

Brampton, significantly improved the economics

of the project.

“Without the policy changes, the rents required

to support construction would have

been significantly higher and less attainable for

many residents,” he said. “These policies helped

bridge the gap between development costs and

market affordability, enabling projects like Rose

Towers to move forward at a time when new

rental supply is urgently needed.”

The approvals process for Rose Towers was

supported by a collaborative and responsive approach

from both the City of Brampton and the

Region of Peel. According to Jones, municipal

staff provided thorough and timely reviews, helping

to keep the project progressing smoothly.

“While large-scale developments inherently

involve complex coordination, there were no

unique challenges specific to this project. All parties

worked diligently together, which reflects our

shared goal to get shovels in the ground for new

rental housing,” he said. “The positive collaboration

on this project demonstrates what is possible

when the public and private sectors align around

a common goal for the benefit of the community.”

Kicking off the new build

A major draw for residents, once complete,

will be the development’s proximity to grocery

stores, Brampton Civic Hospital, Algoma University,

restaurants, downtown amenities, and

extensive parks and green spaces.

“Together, these features create an exceptional

opportunity to live, work, and play in one

of Brampton’s most vibrant and evolving neighbourhoods,”

Jones said.

Skyline and Solmar marked the official construction

kickoff on May 25th with a groundbreaking

ceremony joined by numerous project partners,

stakeholders, and federal and city officials.

“Our government is cutting red tape and

creating the conditions to speed up homebuilding

across Ontario so projects like Rose Towers

can get off the ground,” said Housing Minister

Rob Flack in a written statement. “Our measures

to remove the HST on purpose-built rentals,

simplify planning and approval tools, and make

the Ontario Building Code the single standard

across the province are helping to get more

homes built faster.”

Brampton by the numbers

Brampton continues to rank among Canada’s most competitive rental markets, with strong

population growth and limited new supply driving sustained demand for purpose built rentals.

Recent data from Rentals.ca highlights the scale of that pressure and the opportunity for

new projects like Rose Towers.

• Population growth: Brampton’s population now exceeds 700,000, with annual growth

rates consistently among the highest in the country. The city is projected to surpass

900,000 residents by 2041, driven largely by newcomer settlement and a young demographic

profile.

• Rental demand: Brampton remains one of the GTA’s most in demand rental markets, with

average asking rents rising year over year in Rentals.ca reporting throughout 2024 and

2025. Demand has remained resilient even as other markets have cooled.

• Affordability pressure: Rentals.ca data shows that two bedroom units in Brampton regularly

rank among the highest priced in Ontario outside Toronto, reflecting a shortage of

modern, purpose built rental supply.

• Limited inventory: Purpose built rentals represent a small share of Brampton’s total housing

stock, with most renters relying on secondary suites or investor owned condos. This

imbalance has contributed to tight vacancy rates and upward pressure on rents.

• New construction momentum: After years of under building, Brampton is seeing renewed

activity in the purpose built rental sector. Projects like Rose Towers are part of a growing

pipeline responding to the city’s intensification goals and long term housing needs.

• Younger renter base: With a median age of 36, Brampton is one of Canada’s youngest

large cities — a demographic that increasingly prefers professionally managed, amenity

rich rental living.


COVER STORY >>

With construction now underway, Rose Towers

is poised to become one of the most significant

purpose-built rental additions in Brampton’s

recent history. The multi-residential community

— comprised of four high-rise buildings ranging

from 26 to 30 storeys — will deliver a substantial

boost to the city’s rental supply. Each tower will

include ground floor retail and a full second floor

of resident amenities, supporting Brampton’s vision

for vibrant, mixed-use urban corridors that

integrate housing, services, and community life.

Brampton Mayor Patrick Brown highlighted

the project’s alignment with the city’s long-term

planning priorities: “Projects like Rose Towers are

critical to keeping pace with Brampton’s rapid

growth. Adding new rental housing along the

Queen Street Corridor supports our long-term

planning priorities and adds much needed rental

homes in a key urban area in our city.”

“PROJECTS LIKE ROSE TOWERS ARE CRITICAL TO KEEPING

PACE WITH BRAMPTON’S RAPID GROWTH.”

Rose Towers will feature luxurious, open-concept

suites with high-quality finishes, designed for

residents seeking a comprehensive mix of indoor

and outdoor amenities. The community will offer

fitness centres, resident lounges, outdoor barbeque

areas, and pet wash stations, along with

three levels of underground parking to support

long term convenience for tenants. Its location

— less than two kilometres from Highway 410 —

provides easy access to transit, retail, dining, and

recreational amenities, aligning with renter preferences

for connected, amenity rich urban living.

For more on this project, visit: www.skydev.ca

Skyline’s Larger

Provincial Pipeline

Skyline is actively expanding its rental developments

across Ontario, positioning it

as a major contributor to the province’s purpose-built

rental supply. The numbers include:

• 600+ apartments completed

• 1,350 currently under construction

• 3,000+ additional suites in the development

pipeline across five additional

communities


Climate Action at a

Crossroads

Navigating the complexities and challenges of decarbonization

by Erin Ruddy

Amid rising geopolitical tensions, economic volatility, and a pronounced retreat from ESG commitments, Desjardins

Group has released its 2025 Climate Action Report and its Social and Cooperative Responsibility Report —

two documents that chart the progress and setbacks of the past five years. Since announcing its ambition to reach

net zero emissions by 2040, Canada’s largest cooperative financial institution has stayed the course and remained

a stabilizing force in the national financial landscape, managing $524.3 billion in assets as of March 31, 2026.


FEATURE >>

Still, the path has been far from smooth. Desjardins’ latest findings offer

both guidance and a stark reminder of the mounting challenges

building owners face as they work to deliver essential sustainability

upgrades.

“Even though we’ve made real and meaningful progress, these reports

show the complexity and challenges of decarbonization,” said Gildas Poissonnier,

Chief Sustainability Officer at Desjardins. “Above all, they show that

we need to keep moving forward, using reliable data and robust tools, while

still remaining attentive to the needs and circumstances of our members

and clients during this transition.”

While Canada has seen some pushback against ESG in the past two

years, in the United States it has become a highly polarized political issue,

with state level legislation restricting ESG investing, public campaigns targeting

financial institutions, and explicit anti ESG mandates. Despite this

resistance, Desjardins again earned MSCI’s highest ESG rating of AAA in

2025 and reported strong progress across several key areas.

Specifically, renewable energy lending has increased from 28 to 73 per

cent of its energy portfolio since 2020, supported by $8.3 billion in transition

aligned commitments. The institution has also invested more than $2 billion

in renewable energy infrastructure, while four sustainable and green bond

issuances totaling $2.2 billion — including a $500 million issuance in 2025

— signaled growing momentum for green multifamily financing. Desjardins

further reports a 27 per cent reduction in operational GHG intensity and a

32 per cent reduction in emissions intensity from investment and lending

activities. Yet even as total assets rose by 55 per cent, financed emissions

remained flat, showing that portfolio expansion has outpaced its ability to

drive down total emissions.

“Our progress over the last five years has reinforced our belief that meaningful

climate action requires collective effort,” the report contends. “To

make real headway toward a fairer, more equitable and low carbon economy,

we need a political, economic and regulatory ecosystem that is coherent

and motivating — one that unites public and private sector players and

keeps them moving in the same direction.”

For Canadian apartment owners, Desjardins’ findings reinforce what the

sector has long understood: meaningful climate action is only viable within

a coordinated ecosystem that provides predictable policy, financing incentives,

and technical support. For operators managing aging building stock,

capital constraints, and mounting regulatory pressures, the shift to low carbon

operations demands continual adjustment in an already challenging

environment. As retrofit costs rise, tenant affordability pressures intensify,

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FEATURE >>

“THE ENERGY TRANSITION CAN’T HAPPEN

IN ISOLATION. IT NEEDS TO TAKE INTO

ACCOUNT ECONOMIC

AND OPERATIONAL REALITIES. ”

and provincial regulations evolve, alignment across policy, finance, and

technical capacity is becoming increasingly essential.

Desjardins’ CEO Denis Dubois underscored this need, stating, “The

energy transition can’t happen in isolation. It needs to take into account

economic and operational realities. It means we’ll need to make important

decisions and continually adjust in an environment that is still demanding.”

Collaboration as a climate strategy

While decarbonization is proving slower and more complex than anticipated

— especially as portfolios grow — reliable data and standardized

tools remain critical for tracking emissions across diverse building types. At

the same time, Desjardins emphasizes the need for collaboration across

public, private, and non-profit sectors to scale affordable, low carbon housing,

even as green financing mechanisms — from sustainable bonds to

blended capital funds — become increasingly central to rental housing

development and retrofits.

“We’re determined to continue incorporating ESG factors into our

activities and products because we believe they’re a source of more sustainable

growth,” the report adds — signaling that capital providers will

increasingly expect, and reward, credible climate strategies, transparent

reporting, and investments in resilient, efficient buildings.

Recently, the group has advanced several collaborative initiatives with

direct relevance to housing, including Décarbone+, developed with partner

institutions to help businesses understand and reduce emissions; a

$400,000 investment with Cycle Momentum to support climate tech

start-ups emerging from Quebec universities; and the Amplifier Fund, a

$50 million partnership with the Société d’habitation du Québec and six

foundations to expand affordable rental housing with a low environmental

footprint. It also launched partnerships for renewable energy and storage

projects with First Nations and regional alliances, as well as supported the

installation of 477 EV charging stations across Quebec and Ontario, reflecting

infrastructure shifts that will be increasingly expected in modern

rental communities.

Taken together, these findings point to a sector-wide inflection

point. As financial institutions maintain, or even sharpen, their climate

commitments and governments advance new regulatory expectations,

rental housing providers will increasingly operate in an environment

where low carbon performance is tied to both risk management

and access to capital. Desjardins’ 2025 reporting makes clear that

progress is possible when policy, financing, and technical capacity

move-in alignment — and the path forward will depend on sustained

collaboration, predictable frameworks, and continued investment in

resilient, efficient buildings. s


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NEWSWORTHY >>

Industry hot topics

Gairloch breaks ground on new rental property in the Junction

Gairloch Developments has officially broken ground on 3239 Dundas Street West, a new

purpose-built rental community in Toronto’s Junction neighbourhood. Designed by

Batay Csorba Architects, the project marks the launch of a broader long term rental housing

strategy across the city, with additional communities planned for 1802 Bayview Avenue and

1650 Dupont Street.

3239 Dundas Street West brings together a full modular precast structural and exterior

envelope system, sustainable high-performance building design, and innovative heating,

cooling, and hot water technologies to create a contemporary rental community centered

on durability, efficiency, and long-term livability. Paired with advanced mechanical systems

and a high performance envelope, the company says the project reflects a forward-looking

model for sustainable urban rental housing.

“This project reflects our belief that purpose-built rental housing should be designed with

the same level of care, quality, and architectural ambition as any residential development in

the city,” said Bill Gairdner, President of Gairloch Developments. “3239 Dundas Street West

represents a long-term investment in design, sustainability, and the future of rental living in

Toronto.”

Gairdner added that the heart of the Junction, the development benefits from strong

transit connectivity, a vibrant retail and dining scene, and an established residential community

— positioning it well for long-term urban renters seeking both convenience and

design quality.

Yukon to accelerate major infrastructure projects

The Yukon government has partnered with Canada on a $350-million investment that will deliver

more housing and infrastructure across the territory. The first agreement is for nearly $157 million

under the Build Communities Strong Fund. The Yukon will receive up to $82.4 million to support

infrastructure projects related to housing and

post-secondary education over 10 years, as well

as up to $74.5 million in health infrastructure funding

over three years.

Upgrades will target housing supply, including

water and wastewater systems, roads and bridges

and community infrastructure. It will also help

with building and renovating learning and research

spaces, as well as hospitals and long-term

care facilities.

The second agreement is with Yukon Housing

Corporation (YHC) to build up to 500 new homes

for rent-geared-to-income clients and essential

workers in the community.

The federal government is investing $100 million

and the YHC is contributing $93 million to

deliver both public-housing units owned and operated

by YHC and partner-led units constructed

by community housing developers.

The governments say the goal is to accelerate

construction timelines and improve efficiency,

while prioritizing Canadian-made materials and

products. The initiative also supports the integration

of supportive and transitional housing, which

will help to address homelessness and provide

housing stability for vulnerable people.


NEWSWORTHY >>

Urban living meets ecological immersion at Ookwemin Minising

Plans for Toronto’s waterfront redevelopment

are well underway, including for the new island

community of Ookwemin Minising, formerly

known as Villiers Island. Spanning 98 acres in

total, the project is not only a major engineering

achievement but also a meaningful step in reconciliation

as the city works to create one of its most

significant future residential neighbourhoods.

The island was created through the $1.4 billion Port Lands Flood Protection project, which rerouted

and naturalized the mouth of the Don River. Originally designed to protect nearly 500 acres of land

from catastrophic flooding, the effort has since evolved into a long-term vision for a new urban district.

The City of Toronto’s updated Development Concept Plan, released in April, outlines a “complete,

mixed-income community” with up to 12,000 new homes, including thousands of rental units and a

major commitment to affordability.

Across the island, the design emphasizes green corridors, pedestrian-first streets, open public spaces,

and climate resilient infrastructure. Homes will sit steps from restored natural habitats, creating what

Waterfront Toronto describes as a “rare blend of urban living and ecological immersion.”

“Ookwemin Minising is about creating a complete, green, and livable neighbourhood,” said Pina

Mallozzi, Senior Vice President, Design, Waterfront Toronto. “We’re combining more housing, including

thousands of affordable homes, with green public spaces, people-first streets, and a design that reflects

the island’s history and ecology. The result is a community with a strong and unique sense of place.”

Of the roughly 12,000 homes envisioned, about 10,000 will be built on publicly owned land, supporting

the council-approved target of 30 per cent affordable rental housing on public lands. Rental

housing will play a major role, with thousands of purpose-built rental units — including affordable

homes delivered through partnerships with both market and non-profit housing providers. The island’s

few privately owned parcels are also expected to contribute affordable rental units through community

benefits agreements and negotiated planning approvals.

“This is a once in a generation opportunity to build a new community that is inclusive, sustainable,

and affordable,” said Deputy Mayor Jennifer McKelvie. “We are ensuring that people of all incomes

will be able to call this new neighbourhood home.”


NEWSWORTHY >>

Move-in incentives now the norm in major Canadian rental markets

As vacancy rates rise and rents ease across

several major markets, move-in incentives

are becoming increasingly common, reshaping

how renters search for homes and how property

managers compete for tenants. New analysis

from Rentals.ca and Urbanation shows that approximately

one in five rental listings in major

markets such as Toronto and Vancouver now includes

some form of incentive, ranging from free

rent to cash bonuses.

This surge in incentives reflects a market adjusting

to increased supply and shifting demand.

According to Shaun Hildebrand, President of

Urbanation, incentives have become far more

prevalent as vacancy rates climb and competition

intensifies.

“For renters, these promotions can represent

meaningful savings and improved affordability,

while for property managers, incentives are increasingly

being used as a competitive tool to attract

tenants and complete lease-ups in a softer

market environment,” he said.

Common offerings now include free rent, reduced

parking fees, internet packages, gift cards,

and cash bonuses.

The trend is especially pronounced in the

Greater Toronto and Hamilton Area (GTHA),

where a surge in new supply — combined with

heightened competition from condo rentals —

has created more challenging lease up conditions.

In Q1 2026, 66 per cent of newly completed

purpose-built rental projects offered incentives,

up sharply from 32 per cent two years earlier.

The most common incentive was two months of

free rent, offered by 47 per cent of projects, compared

with 32 per cent in Q1 2025.

On average, incentives reduced effective rents

by 13 per cent, equivalent to $379 per month, up from $292 in 2025 and $163 in 2024. These shifts

illustrate how quickly incentives have evolved from occasional perks to standard practice in many

new developments.

A similar pattern is emerging in Ottawa, where rising vacancies are driving deeper discounts.

The vacancy rate for stabilized purpose-built rentals reached 3.2 per cent in Q1 2026, double

the level from two years earlier. While average asking rents held steady at $3.28 per square foot,

incentive adjusted rents fell to $2.91 per square foot, representing an 11.4 per cent discount.

The widening gap between face rents and effective rents underscores how incentives are quietly

reshaping affordability in markets where supply has caught up with demand.

For renters, the rise of incentives represents a rare moment of improved leverage in a market that

has long favoured landlords. For property managers, these offerings have become an essential competitive

tool — particularly in regions experiencing substantial new supply. As Canada’s rental market

continues to rebalance, incentives are poised to remain a defining feature of the leasing landscape.

To explore the full analysis, visit Rentals.ca.

B.C. leads Canada in lowering residential rents


Renters across British Columbia are experiencing meaningful cost of living improvements as

the province records the largest year-over-year decline in asking rents in Canada. At the

same time, construction of new rental housing is accelerating at unprecedented levels, marking

a significant shift in a market long defined by scarcity and rising prices.

According to new data from the province, the average asking rent in B.C. has fallen 12.5 per

cent between August 2023 and April 2026 — from $2,671 to $2,338. This represents a $333

monthly reduction, saving renters nearly $4,000 per year.

“In the face of a national out of control housing crisis, here in B.C. we are taking on wealthy

speculators, protecting renters from eviction and turning vacant units back into homes for people,”

commented Premier David Eby. “Our plan is leading the country in results. Rent prices

are down, rental home construction is up, and we’re building faster by removing roadblocks to

NEWSWORTHY >>

construction. There’s more to do. Keeping this

momentum and delivering even more is our

priority.”

Provincial analysis suggests that without certain

government interventions, asking rents in

B.C. today would be hundreds of dollars higher,

leaving renters with fewer options and less negotiating

power.

A major contributor to the improved rental

landscape is the rapid expansion of purpose-built

rental housing. In Burnaby, BC

Builds has just broken ground on nearly 820

new rental homes, adding to a pipeline of

projects designed to increase supply quickly

and affordably. Meanwhile across the

province, purpose-built rental registrations

reached more than 26,000 in 2025, compared

to an average of just 2,500 per year from 2007

to 2016. Metro Vancouver’s vacancy rate has

risen from 0.9 per cent in 2023 to 3.7 per cent,

giving local renters more choice and leverage.

Since 2017, the province has implemented

a suite of measures aimed at returning vacant

units to the rental market and accelerating construction.

These include: introducing taxes targeting

speculation and empty homes; stronger

protections against evictions; zoning reforms

to allow more housing types; and streamlined

permitting to reduce delays. In 2023, the Homes

for People action plan intensified these efforts,

introducing new tools to address short term

rentals, outdated zoning rules, and red tape that

slowed construction.

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Toronto rail corridor eyed

for development

If approved, an ambitious plan led by LiUNA’s

pension fund and Fengate would create 6.3

acres of mixed-use development above an

active Toronto rail corridor by the mid-to-late

2030s. The Toronto Rail Yards project envisions

4,000 homes, a 915,000‐sq‐ft office tower, retail

space, and two acres of parkland, with work

beginning in 2028 and phased development

alongside a new GO station at Front and Spadina.

Esentially, the project would be similar to

Hudson Yards in New York, bringing transit‐oriented,

low‐carbon growth to the city’s downtown

core while generating thousands of construction

jobs.


ASK THE EXPERT >>

From Leases to Loyalty

How to turn rental housing into lasting homes

By Ellen O’Connor, Ferguslea Properties

Rental housing providers across Canada face an all-too common challenge: turnover is expensive. Every move-out

triggers vacancy loss and a cascade of costs tied to marketing, staffing, leasing incentives, cleaning, and repairs.

As renter mobility increases, expectations have shifted. In 2026, renters are not just comparing prices — they are

comparing lifestyles. They want flexibility, convenience, and access to wellness. They want homes that support

how they live, work, and socialize.

Long-term renter loyalty is not accidental.

It is the result of intentional investments in

lifestyle infrastructure, year round programming,

and community-building strategies that

evolve with residents’ needs. At Accora Village,

Canada’s largest privately-owned rental community,

retention is a core objective — not as a marketing

tactic, but as an operational strategy. In an era

when moving every year feels normal, the question

becomes: what actually keeps renters in place?

Understanding the resident experience

Traditional retention tools, such as renewal incentives

or small lease perks, do add value but

they’re failing to accomplish what they used to.

Renters now evaluate their housing through a

broader lens; they look at convenience, access

to wellness, social connection, and overall stability.

Young professionals, families, and long-term

renters alike are increasingly choosing “stayability”

over ownership. In other words, the ability

to walk to amenities, maintain a fitness routine,

or build friendships within their community can

matter more than upgrading to a slightly larger

unit elsewhere.

This signals a broader industry shift: retention

is no longer just operational — it is a resident

experience strategy. Communities with stronger

long-term tenancy treat rental housing as an

evolving lifestyle platform rather than simply a

housing product.


ASK THE EXPERT >>

Lifestyle infrastructure that evolves

Amenities can no longer exist just to fill space

in a brochure. When designed intentionally,

they become powerful retention tools. For instance,

on-site fitness facilities remove barriers

and help residents build and maintain positive

habits. They eliminate the need for a gym

commute or extra membership fees, and they

foster a stronger sense of attachment to the

community. When a resident’s weekly fitness

class is just steps from their front door, the idea

of moving becomes far less appealing.

The same can be said about multi-season

recreational programming and social spaces

that build connection. Canadian winters can

increase social isolation, making the colder

months critical for engagement. Indoor recreational

sports, wellness workshops, and

winter-friendly activities help residents stay

connected year round, reducing seasonal

dissatisfaction and strengthening community

bonds. Recreational trends like pickleball

show how low barrier activities can drive

engagement, bringing neighbours together

in a relaxed setting. These shared experiences

create familiarity and connection,

two factors that strongly influence renewal

decisions.

Community engagement as a strategy

Retention deepens when property management

shifts from a transactional to a relational

approach. A structured programming calendar

and organized activities provide consistency

and foster neighbour-to-neighbour interaction.

Regular communication and resident feedback

loops signal that management is listening,

which builds trust.

Research consistently shows that residents

who form friendships within their community are

significantly less likely to relocate. For operators,

community-building should be measured like

any other KPI. Participation rates in programs

and events can be tracked alongside occupancy

and renewal rates. Over time, engagement

often correlates with stronger long-term tenancy.

Stability as a competitive advantage

From a renter’s perspective, staying put has real value.

It saves money, eliminates the stress of moving,

and preserves the routines that support daily life.

For families, stability also means maintaining school

continuity and neighbourhood connections.

For operators, the benefits are equally

compelling. Lower turnover reduces marketing

spend and vacancy loss, while more predictable

occupancy strengthens operational planning.

Over time, communities that demonstrate consistently

strong renewal rates also build greater

investor confidence, reinforcing stability as a true

competitive advantage.

Broader rental housing trends also point toward

a rise in long-term renters by choice. Renting

is increasingly viewed as a permanent housing

model rather than a temporary phase. In this

environment, stability itself becomes a competitive

advantage.

The bottom line

High turnover is costly, but it isn’t always inevitable.

Rental communities that prioritize lifestyle

integration, year-round engagement, wellness

accessibility, and social infrastructure are positioning

themselves for stronger renewal rates

and long-term stability. As rental housing continues

to evolve through 2026 and beyond, the

housing providers who succeed will be those

who recognize a simple truth: leases do not drive

retention — lived experience does.

Ellen O’Connor is the Marketing & Leasing Manager at Accora Village (Ferguslea Properties), Canada’s

largest privately owned rental community.

Expertise. Insight. Trust.

Mechanical Electrical Sustainability Decarbonization

Having the technical expertise and

insight to conduct retrofit projects

in established buildings without

affecting the day-to-day business

of occupants is our specialty. It’s what

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The truth is, existing buildings are far

more complex and challenging than new

construction, and require a unique game

plan every time. It’s why the process

for delivering mechanical and electrical

engineering solutions requires more than a

cookie cutter approach – it demands that

you have a deep insight into the building

and how new systems can be integrated

into existing systems seamlessly.

All of our projects are reviewed by senior

engineers, each with over 30 years of

experience in their respective fields,

ensuring that our clients always receive

engineering services of the highest quality.

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T: 416-443-9499 | E: marketing@mcgregor-allsop.com | mcgregor-allsop.com


Smart Ideas

TOOLS DRIVING THE NEXT WAVE OF

COMPLIANCE INNOVATION

From embedded tenant insurance to AI-powered code navigation, new platforms are reshaping how the rental and development sectors

manage regulatory requirements.

RentCafe Integrates Tenant Insurance

Yardi has expanded its RentCafe Renter Essentials offering through a strategic

partnership with APOLLO Insurance, enabling residents in Canada

to purchase or upload tenant insurance directly within the RentCafe leasing

workflow. According to Yardi, the integration “enhances resident financial

well-being and gives property managers a streamlined, real-time view of

insurance compliance across their portfolios.”

RentCafe Renter Essentials brings together products and services residents

need throughout their tenancy, delivered by Yardi or select partners. With

the APOLLO integration, residents can now upload proof of insurance or

purchase a policy without leaving the RentCafe environment, reducing friction

and improving compliance visibility for property managers.

Jeff McCann, founder and CEO of APOLLO Insurance, described the partnership

as “a major milestone,” emphasizing that embedding tenant insurance

directly into the leasing process simplifies the experience for both

residents and operators, making compliance easier than ever.

For more info, visit: www.yardi.com

AI Platform Brings Clarity to Canada’s Regulatory Maze

Navigating Canada’s building codes, fire codes, and municipal zoning bylaws

is notoriously complex — even for professionals who work with them

daily. Lawtonica, a regulatory technology platform launched in 2025, aims

to change that by making compliance faster, clearer, and easier to manage.

According to Walelign Sumoro, CMO and co-founder, Lawtonica is a zoning,

building code, and compliance workflow platform designed to help

users understand regulations, organize project research, and work through

compliance faster. The platform consolidates municipal zoning bylaws, provincial

codes, national codes, and project-based tools into a single environment.

Users can read full documents in the Code Library, browse extracted

diagrams, ask document-specific questions, compare code versions, and

collaborate in shared project workspaces.

The concept first emerged at Queen’s University in 2025, where Sumoro

and his teammates developed early AI tools to simplify access to Kingston’s

bylaws. Their prototype won the Kingston Mayor’s Innovation Challenge,

highlighting a clear need for more accessible regulatory information. Today,

Lawtonica is expanding its platform for architects, planners, builders, consultants,

municipalities, landlords, homeowners, and anyone who needs to

navigate zoning and code requirements more efficiently.

For more info, visit: www.lawtonica.ca


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Canadian Apartment - May-June 2026

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