From data to dollars:
Benchmarking for a better bottom line across your portfolio
Managing energy and water usage is no longer optional for reducing costs.
Construction and rental housing go hand in hand
Addressing their challenges will help to solve Canada's housing shortage.
The impact of tariffs on Canada's rental housing industry
The consequences of U.S. tariffs will be far-reaching and multi-faceted.
As you are aware, the Liberal Party of Canada has won a fourth consecutive federal election. It marks a stunning turnaround of fortunes, as mere months ago the Conservative Party under Pierre Poilievre was leading decisively in the polls. The winds shifted rather dramatically once new Prime Minister Mark Carney came on board, and President Trump started spouting “51st state” nonsense and imposing tariffs on every country that did business with the U.S. It’s early days so we’ll see where the political winds take us.
This issue of RHB Magazine features a summary of the International Women’s Day event. RHBTV hosted several panel discussions, moderated by Vanessa Topple and Jessica Green, with women in leadership roles within the rental housing industry. Topics included resilience in mental health and wellness, inspiring the next generation of women in the real estate industry, and community engagement, as well as a look behind the scenes of the panelist and topic selection processes.
The second article examines the impact of U.S. tariffs on Canada’s rental housing industry. It includes a timeline of events, the effect of tariffs on construction costs, the supply chain, the real estate investors’ market, and rental housing rates, and how to address the issue. The third article discusses the relationship between the construction and rental housing industries, as well as why and how the latter should support the former.
Don't forget to read CFAA’s newsletter, National Outlook , as well as the Regional Association Voice. FRPO provides an update on Let’s Build Ontario and summarizes the Toronto Board of Trade’s Housing Symposium. Yardi Canada wraps up this issue with an explanation of the need for energy and water benchmarking to uncover inefficiencies, reduce costs, and improve sustainability within a portfolio. And check out the digital edition of the magazine, which features content not found in these pages.
We enjoy hearing from our readers, and we want to support twoway communication. If you have any comments or questions, send them to david@rentalhousingbusiness.ca. I look forward to your emails.
Publisher
Marc Côté
marc@rentalhousingbusiness.ca
Associate Publisher
Nishant Rai nishant@rentalhousingbusiness.ca
Editorial
David Gargaro
david@rentalhousingbusiness.ca
Creative Director / Designer
Scott Clark
Sales Executive
Justin Kreslin
justin@rentalhousingbusiness.ca
Office Manager
Geeta Lokhram
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Opinions expressed in articles are those of the authors and do not necessarily reflect the views and opinions of the CFAA Board or management. CFAA and RHB Inc. accept no liability for information contained herein. All rights reserved. Contents may not be reproduced without the written permission from the publisher. P.O. Box 696, Maple, ON L6A 1S7 416-236-7473
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the issue!
David Gargaro Senior Editor
The moderators and panelists discussed topics of interest to women in the rental housing industry.
This issue of National Outlook provides insights into the results of the federal election and what it may mean for Canada’s rental housing industry. It also includes an announcement of CFAA’s new Board of Directors, a glimpse of what to expect from CFAA’s Rental Housing Conference, and a summary on rental housing market trends from Yardi’s Canadian Multifamily Report.
The Liberal Party of Canada won the federal election, forming the federal government for a fourth consecutive term. Mark Carney has been elected as Prime Minister, with the Liberal Party forming a minority government with 168 seats. The Conservative Party will form the official opposition with 144 seats, although Conservative leader Pierre Poilievre lost his seat. The New Democratic Party lost official party status with only seven seats, and Jagmeet Singh has announced he is stepping down after also losing his seat. The Bloc Quebecois maintained official status with 23 seats, although it is a significant decline from the previous election. During the campaign, all three parties made housing a priority in their election platform. With the Liberal Party winning the election, we should take a closer look at what Carney has promised. Build Canada Homes (BCH) forms the cornerstone of a $130 billion plan to address housing shortages, support infrastructure growth, and strengthen key areas like national security and healthcare. Through BCH, the federal government plans to accelerate the construction of affordable housing, increase supply with prefabricated homes, invest in low-cost financing for home builders, reduce municipal development charges, introduce tax incentives for home builders via MultiUnit Rental Building (MURB), and more. Read pages 35-38 for more information on the Liberal Party’s housing platform.
Peter Altobelli of Yardi Canada provides his analysis and summary of the Canadian Multifamily Report from the first quarter of 2025. The report showed that Canada’s rental housing market continued its upward trend from the end of 2024, although there are signs
that it is slowing. The report looks at average rents in several census metropolitan areas across Canada, key economic and policy influencers, trending cities and renter interest, and looking ahead to 2025. Read pages 38-39 for a summary of the findings for the first quarter of the 2025 Canadian Multifamily Report.
There’s a lot going on at the CFAA, including a new Board of Directors and the 2025 CFAA Rental Housing Conference. Read pages 40-41 for more details.
If you are not already a direct member of CFAA, please consider joining CFAA as a Direct Rental Housing Provider Member, or a Suppliers Council Member. Visit www.cfaa-fcapi.org or emailadmin@cfaa-fcapi.org today.
Tony Irwin President and CEO, FRPO, and Interim President, CFAA
35. Mark Carney leads the Liberal Party of Canada to a fourth consecutive term. How will the Liberal housing plan affect the rental housing industry and Canada's housing shortage?
Canadian National Multifamily Report
38. The Canadian Multifamily Report provides an update on the rental housing market for the fourth quarter of 2024, emphasizing rental rates for two-bedroom units in several CMAs.
CFAA's Rental Housing Conference is taking place in Vancouver from May 13
To subscribe to CFAA’s e-Newsletter, please send your email address to communication@cfaa-fcapi.org.
The Canadian Federation of Apartment Associations represents the owners and managers of close to 1.5 million residential rental suites in Canada, through 13 apartment associations and direct landlord memberships across Canada.
CFAA is the sole national organization representing the interests of Canada’s $950 billion rental housing industry.
For more information about CFAA itself, see www.cfaa-fcapi.org or telephone 613-235-0101.
Member Associations
Corporation des Propriétaires Immobiliers du Québec (CORPIQ) www.corpiq.com P: 514-748-1921
Eastern Ontario Landlord Organization (EOLO) www.eolo.ca P: 613-235-9792
Federation of Rental-housing Providers of Ontario (FRPO) www.frpo.org P: 416-385-1100, 1-877-688-1960
Greater Toronto Apartment Association (GTAA) www.gtaaonline.com P: 416-385-3435
Hamilton & District Apartment Association (HDAA) www.hamiltonapartmentassociation.ca P: 905-632-4435
Investment Property Owners Association of Nova Scotia (IPOANS) www.ipoans.ns.ca P: 902-425-3572
LandlordBC www.landlordbc.ca P: 1-604-733-9440
Vancouver Office P: 604-733-9440
Victoria Office P: 250-382-6324
London Property Management Association (LPMA) www.lpma.ca P: 519-672-6999
New Brunswick Apartment Owners Association (NBAOA) www.nbaoa.ca jbrealsetate@nb.aibn.com
Manufactured Home Park Owners Alliance of British Columbia (MHPOA) www.mhpo.com P: 1-877-222-4560
Professional Property Managers’ Association (of Manitoba) (PPMA) www.ppmamanitoba.com
P: 204-957-1224
Saskatchewan Landlord Association Inc. (SKLA) www.skla.ca P: 306-653-7149
Waterloo Regional Apartment Management Association (WRAMA) www.wrama.com P: 519-748-0703
Largest Primary Rental Markets by Unit Count in Western Canada
1 Vancouver, BC - 124,159
2 Edmonton, AB - 85,795
3 Winnipeg, MB - 73,270
4 Calgary, AB - 56,441
5 Victoria, BC - 32,850
6 Saskatoon, SK - 17,472
By David Gargaro
International Women’s Day (IWD) was on Saturday, March 8 this year. For the last five years, RHB Inc. has dedicated a full month of events to celebrate IWD. This includes RHBTV hosting several panel discussions with women in leadership roles within the rental housing industry.
Panel 1, moderated by Vanessa Topple, Anchor and Producer of BoldTV, and Jessica Green, Director of Communications with Greenwin, engaged in discussions about what occurred during the other three panels and the behind-thescenes processes involved in selecting the topics and panel members. The panelists included:
Margaret Herd, Retired, Park Property Management
Panel 2 was moderated by Vanessa and involved a discussion on resilience in mental health and wellness. The panelists included:
Gloria Salomon, Chairperson, DBS Developments
Esme Junaid, Regional Director, BC, MetCap Living
BJ Santavy, Vice President, Skyline Living
Ashley Archer Bereaux, Director of Residential Operations, Starlight Investments
Brandi McIlvenny Clarke, CVO, Brandi Clarke Consulting
Parisa Vafaei, Regional Director, Yardi Alina Okhnovska, CEO, Metal Solution Industries
Panel 3, also moderated by Vanessa, focused on inspiring the next generation of women in the real estate industry. The panelists included:
Hero Mohtadi, Vice President, Residential Operations, Dream Unlimited
Kristin Schulz, HR Director, Park Property Management Inc.
Trish MacPherson, Past Partner, Alignvest
Paula Gasparro, Vice President, Real Estate, CMLS Financial
Michelle Collins, Director of Government and Other Verticals, Rona Canada
Panel 4, moderated by Jessica, took place at the Jade restaurant in Yorkville. The discussion focused on community engagement in the rental housing industry. The panelists included:
Fay Yachetti, Director, Sustainability, Skyline Group of Companies
Heela Omarkhail, VP Social Impact, The Daniels Corporation
Ossana Ber, Community Engagement Manager, Greenwin Corp.
Maegan Fearman, Business Development Manager, Residential Sales, Metro Compactor Service Inc.
Sarah Segal, CEO & Founder, simplyDBS
Panel 1 began with Vanessa explaining how they wanted to show the audience what went on behind the scenes of IWD, including how the panel topics were selected and how they chose who would be on the different panels. The goal was to demonstrate their thought processes and get more women involved in all aspects of putting on the event.
Jessica commended Vanessa and RHB for putting on the unique event, stating she was proud to have been involved with IWD for the past four years. She considered her involvement in moderating the panels “a major career highlight” and was glad to see they were doing something different from previous years with this panel.
On the topic of creating an impactful International Women’s Day discussion, Gloria Salomon stated it was important to understand what was relevant to women and the industry today. Given the changing environment, Women’s Day is a chance to reflect on progress, but also to address the challenges women face. Those challenges can be leadership, inclusivity or mental health, but the topics need to reflect where we are as a society and where we want to go.
Margaret Herd agreed, emphasizing the importance of selecting the right panellists, which is as important as choosing the topics of discussion. Meaningful discussion depends on bringing in and listening to voices with different perspectives and lived lives. She added, “Representation is not about checking boxes, but ensuring people see themselves reflected in the discussions so they can take action in their lives and communities. Representation is the key to ensuring the conversations inspire real change.”
Esme Junaid added the panels need depth, as it’s important to go beyond the trends and headlines. This would enable deeper discussions of relevant topics and allow the panelists (and those who watched the event) to identify real solutions to essential issues.
The panel members also discussed the other panel topics, what made them relevant to women in today’s real estate industry, and the value that would be derived from engaging in these types of discussions.
Panel 2 began with Brandi McIlvenny Clarke discussing the issue of burnout. Although it’s not the same for every person, burnout essentially means being physically, emotionally, and mentally exhausted. While there are many causes of burnout, it comes from experiencing extended periods of overwhelm and stress. The symptoms can manifest themselves in any number of ways. For example, an individual who experiences burnout could feel lethargic or fatigued, experience various physical symptoms like rashes, and even lose interest in things in which they previously found joy. Isolation is also a symptom of burnout, which involves withdrawing from friends and family and turning down work initiatives. Brandi emphasized the importance of discussing burnout, and mental health in general, to ensure people were aware of it to understand the signs and prevent it from happening.
Parisa Vafaei spoke about burnout as it relates to measuring performance. Many people’s duties are quantified, tracked, measured, and compared to benchmarks and key performance indicators. They are expected to hit certain goals in their roles. Employees are experiencing burnout and losing engagement, and their jobs are becoming nothing more than performing tasks and keeping up with expectations. Tasks become repetitive and lose their meaning, and employees lose their purpose and motivation to do the work.
Alina Okhnovska related her real-world experience with burnout, as she had recently launched her own company. She felt the symptoms of burnout both emotionally and physically. She addressed the issues by making time for herself and finding ways to personally deal with stress.
RHB: How have the IWD panels evolved throughout the years?
Vanessa: I think every year we try to make things bigger and better. We are always looking at ways to bring new topics and perspectives to these panels. We also want to ensure that what we bring has real meaning to the industry, and that it is timely and informative as well as engaging.
Jessica: The panels have grown not only in scale but in depth. Early on, we focused on celebrating women in the industry, highlighting their journeys. Over the years, we’ve shifted into more nuanced conversations, exploring intersectionality, leadership challenges, and systemic change. There’s a stronger sense of community now, and a growing recognition that these conversations aren’t just for women—they’re essential for the industry as a whole.
RHB: What were the big takeaways from this year's panelists?
Vanessa: The biggest takeaways from this year I think is that we are all struggling in certain aspects of our life and that, in this rapidly changing world, mental health is a very crucial topic that employers and companies must take seriously. Burnout is a very real thing and is happening more than ever. These conversations are crucial to have in the workplace.
Jessica: This year, there was a powerful theme around authenticity and courage. Each panelist shared how embracing their voice—even when it felt risky—led to growth, not only personally but across their teams. There was also a strong focus on mentorship, and the idea that real leadership is about lifting others up while you're climbing.
RHB: What was your goal as moderator, and did you achieve that goal?
Vanessa: My goal with these panels is always authenticity. While we have an outline and general idea of what we will be saying, the authentic nature in which the discussion happens is most important, even if that means going outside the outline. This was especially true in our mental health panel this year.
Jessica: My goal was to create a space where the panelists felt seen, supported, and safe to share openly, and for the audience to feel both inspired and challenged. I wanted the conversation to move beyond surface-level empowerment to meaningful reflection. I think we achieved that. There were moments of laughter, vulnerability, and insight that really resonated.
RHB: What impressed you the most about the panelists?
Vanessa: What never ceases to amaze me is the openness and honesty of all the panelists. They really allow themselves to be vulnerable and express themselves in a way not always seen in a corporate setting. We tackled a lot of difficult subjects on my panels, including mental health, female leadership, and the next generation. Each of these subjects brought with them deep and profound thoughts and conversation that were very impactful.
Jessica: Their honesty. These women didn't shy away from the messy or difficult parts of their journeys. They were generous in sharing lessons they've learned, and bold in the way they challenged the status quo. It was also clear that they're not just leaders in title; they're actively shaping the culture and future of our industry.
RHB: What topics would you like to tackle with future panels?
Vanessa: I would love to look at some topics that look at breaking some of the myths and stereotypes women face. I also would like to have tales from the trailblazers, to inspire and encourage other women to step into their power.
Jessica: I'd love to explore the impact of caregiving on career progression, not just for women, but across the board.
RHB: How could you improve the experience?
Vanessa: I think we can always enhance these experiences by adding other elements to it. We may do something fun in the future like cooking together or a wine tasting, all things to build even better friendships and comradery.
Jessica: We’re always learning. I’d like to explore more ways to involve the audience, maybe through interactive components or pre-panel input on topics. Also, expanding the diversity of voices—not just in gender and ethnicity, but in roles across the housing ecosystem—would only deepen the impact.
RHB: What was your favourite thing about this year's panels?
Vanessa: This year the addition of the “behind the scenes” panel that we did where we show how we come up with the panel topics and women was a highlight for sure. We were able to include some women on the panel, because it was done virtually, who normally couldn’t be involved due
to timing and location. This year, Jessica Green and I were joined by Gloria Salomon of DBS Development who joined us from Florida, Esme Junaid from Metcap in Vancouver, and Margaret Herd who joined us though she is newly retired. It was so great to have all those incredible women in one panel. We also expanded this year to add another panel and the first on CREBTV this year, which included some powerhouse leaders from the commercial side of the industry. Having leaders from Cadillac Fairview, CANDEREL, Canadian Tire Corporation, and Northwest Healthcare REIT was so impactful as they discussed the things that not only helped to make them great female leaders but also the mistakes and lessons they have learned on the way.
Jessica: The energy. There was this collective sense of purpose, like everyone showed up not just to listen, but to carry the conversation forward in their own circles. I left feeling hopeful, motivated, and incredibly proud to be part of this community.
Visit https://boldtv.ca/exclusives#iwd-2025 to watch the videos of the IWD panels and learn more from the incredible women in the real estate industry.
Ashley Archer discussed what companies should be doing to help address employees’ mental wellness, such as providing access to counselling services and employee assistance programs. She encouraged team members to make use of those resources when needed. Ashley spoke about the importance of companies getting to the root causes of workplace stress. Work-life balance is important, but companies must also address serious challenges, such as dealing with a toxic workplace, overcoming the lack of leadership training and supports, identifying and solving the problem of unrealistic workloads, and other issues detrimental to employees’ mental health. Ashley also emphasized the importance of creating an environment where employees feel comfortable talking about mental health, asking for help, and having those types of conversations without fear of being stigmatized.
BJ Santavy added they have an obligation to be the leaders they want to see in the workplace. This means using the influence available to model ideal workplace behaviours. She spoke about the power of storytelling to help create a more inclusive environment and a stronger workplace culture. BJ described a Skyline program that highlights one employee for one hour once a month, which enables them to tell their story in their own words. Employees have spoken about various mental health issues, such as suicide and trauma. They have also talked about the people who influenced them and helped them to get through dark times. These types of programs have helped to normalize the discussion of difficult topics and made it OK to talk to others when you need help.
Parisa added the number one team-related cost is having to replace a member of your team. Therefore, it makes sense to encourage discussions of mental health, as well as take care of yourself. Self-care has tangible benefits to the company. It all begins with leadership. She stated, “If you’re going to ask your employees to be in love with their jobs, they actually have to be in love with their jobs. Otherwise, they’re not showing up on a Saturday, as you would have expected. Chances are they’ll quit.”
Panel 3 began with Vanessa sharing research on how Generation X and Baby Boomers are coming to the end of their careers. The real estate industry is seeing large numbers of employees retiring, with more of the younger generations coming on board. According to Forbes, by 2030, 30 per cent of the workforce will be Generation Z. Members of this cohort have different expectations from their careers, from the workforce, and from the trajectory of their careers than their predecessors. The goal is to determine what needs to be done
to attract, inspire, and retain the members of this generation to set them up for success and to lead the next generation of employees.
Paula Gasparro stated younger generations are more in tune with their mental health and wellbeing. They’re looking for more work-life balance, as well as more regular work hours (e.g., 8 am to 5 pm, 9 am to 5 pm) so they have more time for a personal life with friends and family. In general, they’re not coming into the office at 7 am and working long hours. They care about their health, as they’re making and eating healthy meals and choosing healthier lifestyles. Paula said this was unheard of when she started her career, and if you wanted this kind of work-life balance, you were not going to move up in the workplace.
Kristin Schulz added the younger generations are more risk-taking. So, if their current situation doesn’t meet their needs, whether it’s the organization as a whole or the role they’re currently holding, they are more likely to look elsewhere for what they want. Salary is an important factor for helping to retain people, and it’s often ranked highly as a deciding factor when choosing to stay with or join an organization. But Kristin said culture is essential, and it’s important for younger employees that the organization and its values are in alignment with their own. If there is no match, then it means they were not meant for that role and organization, and that’s OK with them.
Hero Mohtadi spoke about the importance of starting retention even before the employee joins the firm. It begins during the interview process and forms the foundation of the eventual relationship with the employee. It involves building a connection with the interviewee. Hiring managers must emphasize this aspect when engaging with potential employees. Interviewers are always eager to explain the benefits and elements of a role, but they need to understand this is the time to connect with the individual and understand who they are as a person.
Michelle Collins spoke about connecting younger employees to their peers through mentoring programs. They want to feel connected to the organization, preferably through people within the same generation via social interactions. This requires listening to employees to determine their needs to possibly adapt to what works best for them. It’s also an opportunity to learn from younger employees, as they have different ways of seeing things.
Trish MacPherson discussed the importance of collaboration. There appears to be less separation between different organizational levels than there has been in the past. The barriers between senior leadership and more junior people have
been knocked down, which younger generations of employees seem to appreciate. Having group meetings where everyone is involved and encouraged to provide their input is a true motivator. Younger employees are more willing to say what’s on their mind. However, some are less willing or able to speak up, as they went through COVID and did not have as many opportunities to develop social and communication skills. Creating a collaborative environment can help to encourage more open communication. Trish added that younger employees also want to be valued for their contributions, and for what they say to be heard and implemented.
Panel 4 began with Jessica emphasizing the importance of community. Rental housing is more than bricks and mortar; it’s about the people who live there and the connections they build. Engaged communities create safer, more resilient, and more inclusive environments for everyone. However, she emphasized meaningful engagement does not happen by accident. Engagement requires intention, innovation, and commitment to listen and respond to residents’ needs.
Heela Omarkhail said her company embedded sustainability and inclusion into the company’s purpose. From the development stage, it’s important to understand the community and its local assets. They will do “listen and learn” tours within the neighbourhood to get to know existing residents, businesses, and community organizations to inform their strategies. This can direct them to supporting local festivals and events, collaborating with new businesses, and engaging the public with holidays and public events.
Fay Yachetti added engagement means catering to residents. This involves understanding what’s meaningful to them, including building and unit features, amenities, and events and gatherings that inspire and involve residents. It requires building owners and management to develop a strategy that supports engagement. It also entails allowing some level of flexibility to meet the varying needs of different communities.
Maegan Fearman agreed with the other panellists’ approaches to community engagement. Her perspective was a bit different, as her company collaborated on both the development side and the residential side. She looked at ways to improve sustainability and safety as it pertained to waste collection, getting input from all parties to ensure their services worked for everyone in the community and on the worksite.
Sarah Segal spoke about leveraging feedback to improve community engagement. She uses different tools throughout various stages of development, from prior to construction through to occupancy and move-in, to engage with the community and prospects. Getting all teams involved to gather this data is vital, as it can be leveraged to get insights into what residents are saying, what the community and neighbourhood are saying, and what is happening in the market. The result is you’re building community, determining what they need, and being intentional in your efforts.
Ossan Ber agreed on the importance of catering to the communities’ needs in customizing events based on what matters to them. She likes working with local organizations and vendors, as it shows building owners and management are paying attention to the community and demonstrating what is important to them. Greenwin makes an effort to seek out local champions to come up with ideas for what will work within the building based on what matters to the community.
Unless you’ve completely ignored all forms of news media in 2025, you’re aware of President Donald Trump’s imposition of tariffs on goods imported into the U.S. The U.S. targeted Canada and Mexico first, and Canada responded with its own countertariffs and reciprocal measures. The tariffs situation has escalated to include China, the European Union, and other countries, affecting everything from small businesses to global supply chains. It’s difficult to pin down the consequences of the tariffs and trade wars, as the situation changes daily. But the impact on Canada’s rental housing industry will be far-reaching and multi-faceted.
The tariffs situation is continually being updated. But here are some key events to date.
February 1: The U.S. imposes a 25% tariff on products from Canada, with energy products being tariffed at 10%, effective February 4. Canada counters with a 25% retaliatory tariff on certain U.S. goods, with additional tariffs on a wider range of goods to come into effect 21 days later.
February 3: The U.S. pauses the tariffs to come into effect on February 4 for 30 days (March 4). Canada follows suit by pausing its first phase of tariffs.
February 13: The U.S. announces plans to impose reciprocal tariffs on all countries that impose tariffs and import taxes on U.S. goods.
March 4: The U.S. imposes the postponed 25% and 10% tariffs on Canadian goods. Canada imposes 25% retaliatory tariffs on the Phase 1 list of U.S. goods.
March 7: The U.S. exempts Canadian products that are CUSMA-compliant from tariffs. Canada pauses the implementation of Phase 2 tariffs on U.S. goods.
March 12: The U.S. imposes 25% tariffs on all steel and aluminum imports from Canada.
March 13: Canada imposes retaliatory tariffs of 25% on select U.S. products, including steel, aluminum, and some consumer products.
April 3: The U.S. imposes 25% tariffs on auto imports.
April 5: The U.S. imposes 10% reciprocal tariffs on all imports not from Canada or Mexico.
April 9: The U.S. announces a 90-day pause on higher country-specific reciprocal tariffs that were announced on April 2, excluding China from the pause. Canada imposes 25% retaliatory tariffs on autos imported from the U.S.
Tariffs are a federal tax on imported goods. When the Trump administration imposes tariffs on Canadian goods imported into the U.S., the importing company pays this tax to the U.S. federal government. That company either absorbs this cost (reducing their profit margin) or passes the cost onto consumers (raising the price of the goods). So, when the Canadian federal government imposes counter-tariffs on American imports, Canadian importers pay this tax to the federal government and either absorb the higher costs or increase the price of goods purchased by Canadian consumers.
How will U.S. tariffs and Canadian counter-tariffs affect the rental housing industry?
The multifamily property development industry has had to deal with rising construction costs long before the tariffs situation. According to Statistics Canada, year over year, residential building construction costs across 15 census metropolitan areas (CMAs) rose 3.7 per cent in the fourth quarter of 2024. Looking back further, year-overyear residential construction costs increased by 18.1 per cent in 2021, 19.1 per cent in 2022, and 6.0 per cent in 2023.
Tariffs will increase the cost of construction materials, such as lumber, steel, and aluminum. Although Canada produces and exports these materials to the U.S. and abroad, it also imports construction materials from the U.S. According to the U.S. Census Bureau, in 2024, the U.S. imported USD$13 billion worth of steel and iron from Canada and exported USD$11 billion to Canada. Canada also imported CAD$2.91 billion worth of wood products from the U.S. in 2024.
“Canada imports about $200 million per year in cement from the United States, and about $2.2 billion in lumber per year,” said Scott Addison, CEO, Ontario Home Builders Association. “When you add a 10 or 25 per cent tariff on top of that, that goes right to the bottom line for builders. Unfortunately, those costs get passed on to new home buyers.”
Multifamily building developments rely on Canadian and imported materials for construction. Wood and aluminum studs are used to frame ceilings, floors, and walls. Structural I-beams are required to support building weight. Many base minerals are shipped to the U.S. for processing and manufacturing, and then shipped back to Canada as finished building materials, which means they could be tariffed both ways. Renovations and maintenance costs will also increase, as they depend on tariffed construction materials. HVAC systems, plumbing materials, kitchen appliances, parts for construction machinery, and many other essential products will all cost more due to tariffs.
During COVID, supply chain disruptions caused delays and shortages in construction materials, electronics, and other key goods. Tariffs have also disrupted long-established supply chains. This has led to delays and shortages of construction materials, as well as goods required for other industries. Canadian developers rely on a percentage of imported goods to build properties. They now must source new materials to meet schedules, as well as deal with unexpected costs.
A delay at any point in the supply chain compounds the problem down the chain. Disrupting the shipment of materials or construction equipment can stall ongoing construction projects and impede new property developments. This will worsen the housing supply shortage, especially in CMAs where there is high demand for affordable multifamily housing.
Multifamily property development is not for the weak of heart. The industry has gone through significant ups and downs over the last 60 years. It’s a high-risk, high-investment business that requires years of planning and development, navigation of multiple layers of regulations, significant capital investments, and dependence on economic stability to ensure buyers can afford homes while getting a return on investment.
Tariffs are negatively impacting real estate investors’ confidence. Given the volatility of the market, real estate investors may hesitate to fund new rental housing projects, which will delay housing supply. Higher development costs mean either increasing selling prices and rents or lowering the return on investment. Increased development costs could also affect the ability to secure or renew financing, which will lead to higher interest rates and a less attractive investment. Current property values can also fluctuate, which will affect the financial stability of rental property owners and property managers.
“In the long term, tariffs risk becoming a structural barrier to housing supply,” said Tony Irwin, Interim President, Canadian Federation of Apartment Associations (CFAA). “When you add cost and uncertainty into the equation, the result is fewer rental homes being built and less reinvestment in our aging rental stock. This undermines housing affordability and directly impacts renters.”
Higher property development and maintenance costs mean higher rents. Rental property owners will have to increase rental rates to maintain profitability, as well as cover other rising costs of running their business. This will price lowto middle-income renters out of the market, especially in CMAs with high rents and low housing stock. This will increase demand for more affordable housing options and could spur an increase in homelessness.
“Tariffs will likely increase costs across the economy, impacting rental housing providers through higher expenses and economic uncertainty,” said Giacomo Ladas, Associate Director of Communications, Rentals.ca. “If unemployment rises, this could lead to more renter turnover and vacancies, putting pressure on rents. Governments should offer clear policy direction and targeted support to stabilize the sector. The industry can respond by collaborating on advocacy, sharing best practices, and finding efficiencies to reduce costs.”
Let’s be clear: homelessness will rise due to tariffs. Unemployment is expected to rise, which will displace people from their homes. According to the Canadian Chamber of Commerce, about 2.3 million jobs depend on exports to the U.S. Jobs are already being lost on both sides of the border. Hundreds of thousands of jobs could be lost across Canada, which will cause a strain on affordable housing stock as families seek lowercost housing options.
The best solution would be for the Canadian and U.S. federal governments to come to an agreement that eliminates or significantly reduces tariffs. However, this does not seem feasible, at least in the short term.
What can governments do to help the rental housing industry manage the tariffs situation?
Some policy measures include:
• Increasing funding for affordable housing projects
• Providing tax incentives and low-cost, longterm financing to developers of multifamily rental projects
• Providing direct funding for infrastructure (e.g., wastewater systems, roads and transit, electrical connections)
• Removing the HST and PST on new home builds
• Reducing or eliminating municipal development charges and fees on new developments and redevelopment projects
• Reducing or eliminate bureaucratic red tape in the project approval process
• Providing energy subsidies to offset rising utility costs
• Unlocking more government-owned land to fast-track construction projects
The rental housing industry can take steps to help reduce expenses. It begins with strategic planning and focusing on identifying Canadian alternatives to U.S. products. For example, Canadian property developers, rental property owners, and property managers can seek alternative materials sources, whether locally made or from international trading partners. They can pursue innovative construction methods that reduce dependency on imported goods. Landlord associations can support collaboration and partnerships between the government and the private sector, who can work together to create solutions that support economic viability and housing affordability.
“As an industry, it is essential that we advocate for policy solutions that recognize the pressures the sector has already been under and will compound with the imposition of tariffs, particularly if they continue for an extended period of time,” said Irwin. “That includes working with all levels of government to share data and insights, demonstrating the real-world impact of tariffs on rental housing supply, and pressing for solutions that support cost certainty and predictability.”
Tariffs have rocked global markets and created challenges for the Canadian economy. They have also impacted Canada’s rental housing industry by increasing construction costs, disrupting the supply chain, impacting real estate investors’ security, and reducing housing affordability. The government and rental housing industry must collaborate and be proactive in addressing this situation to help reduce the impacts and create a more stable situation for all Canadians.
By David Gargaro
Now that the federal election is over and Canada has a new prime minister, it’s time to turn to other important matters. And that is the development of more housing to help solve Canada’s housing crisis. Canada’s construction industry is integral to getting more housing built and addressing the affordable housing shortage.
Prior to the election, the Canadian Construction Association (CCA) launched the Construction for Canadians campaign, sending the message to all political leaders that investment in construction is essential to Canada’s future. The Canadian Home Builders’ Association (CHBA) has long advocated for policies that support housing affordability, increase the housing supply, and remove barriers to construction. Canada’s rental housing industry should pay attention, as the construction industry’s challenges (e.g., lack of investment, workforce shortages, onerous government procurement processes) directly affect the availability, affordability, and quality of Canada’s rental housing.
Construction affects every element of the rental housing industry. The construction industry is integral to building and maintaining everything from multifamily property developments to essential infrastructure including roads, water, and power systems. Having a healthy, robust construction sector is essential to building sufficient rental housing supply to meet the growing demand for affordable housing.
The construction sector employs more than 1.6 million Canadians and generates $151 billion in economic impact, which is approximately 7.5 per cent of Canada’s GDP. However, much like the rental housing industry, the construction sector faces significant challenges. And these challenges mean longer construction times, higher costs, and less skilled labour, which negatively affects the housing supply, especially within census metropolitan areas (CMAs).
Why should the rental housing industry support more investments in the construction sector? A strong construction industry means:
• More rental supply: The shortage of multifamily rental units, especially in CMAs, is partly due to limited construction capacity.
Investing in the construction sector would speed up development timelines and help to support demand.
• Modernized infrastructure: Building infrastructure that supports trade (e.g., ports, highways) helps with the transportation of building materials, lowering materials costs, and reducing project delays. Better infrastructure also improves livability in rental communities.
• Skilled workforce: Every industry is facing challenges with attracting and retaining skilled employees. Many rental housing projects are delayed or becoming more costly due to labour shortages. Supporting construction workforce development ensures the supply of skilled tradespeople to complete rental housing projects on time and on budget.
• Updated procurement policies: The rental housing industry is aware of how bureaucratic red tape can impact development schedules and rental housing supply. Outdated procurement methods can affect public-private partnerships and construction initiatives. Modernizing processes would improve efficiency for rental housing developers.
International pressures, including tariffs and trade disruptions, are adding to the domestic challenges in the rental housing industry. Tariffs and other threats from President Donald Trump could add more strain to Canada’s construction supply chains. This will mean higher material costs, slower delivery of supplies, and higher costs for rental housing developers, which will mean higher rents as well.
The federal government has responded to Trump’s increased tariffs. But more needs to be done. Federal support in the form of policy initiatives and direct investment in the construction sector will help to reduce the impact of external risks and ensure more stability within the rental housing industry.
Advocating for policies that support the construction sector will help to create more affordable housing, which helps the rental housing industry, homebuyers, and renters. Industry members and landlord associations should reach out to government representatives to prioritize construction investment, workforce development, and procurement modernization. They should also promote policies that support the construction industry, including:
• Removing the GST from purpose-built rental construction and introducing supportive tax incentives
• Increasing housing-supportive infrastructure investments
• Reducing or eliminating development charges and finding different funding alternatives
• Removing barriers and red tape within the home building process by harmonizing development-related regulations at all levels of government
• Investing in innovations that promote energy efficiency
• Growing the domestic workforce while implementing immigration policies that support the residential construction sector
Politicians must understand construction isn’t just about building roads and bridges — it’s about building more homes to meet Canadians’ housing needs.
Canada's rental housing industry and construction sector are connected. We need to build more homes and make them more affordable to address the housing shortage. Championing policies that support the construction industry will help to increase the supply of affordable, high-quality rental housing, which is a win-win situation for both industries and the Canadian people.
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By Tony Irwin, Interim President, CFAA
Following a snap election call and a relatively short 37-day campaign, Mark Carney’s Liberal Party of Canada won a fourth consecutive term in office. The Prime Minister has secured the ability to govern with a minority government. This minority government will need the support of at least one opposition party to pass legislation, which may complicate things at times, but housing should be a good place for collaboration. Beyond housing, the crucial CanadaU.S. relationship remains the primary issue that this government will have to deal with. CUSMA negotiations and tariffs will be the focus immediately, and CFAA is encouraged by positive early signals from President Trump regarding his relationship with Prime Minister Carney.
The Liberal Party’s campaign was buoyed by looming U.S. tariffs and President Trump’s intent on Canada becoming the “51st state.” Carney was able to overcome a significant polling deficit, which had the Liberal Party behind the Conservatives by more than 20 points as of December 2024.
The NDP lost official party status and Leader Jagmeet Singh, who lost his own seat, resigned as Party Leader. Conservative Leader Pierre Poilievre also lost his seat in Carleton, which he has represented since 2004. He has not issued an update on his role to date.
As of the date of this publication, the election results are as follows:
• Liberal Party: 168 seats, 43.7% of the popular vote
• Conservative Party: 144 seats, 41.3% of the popular vote
• Bloc Quebecois: 23 seats, 6.3% of the popular vote
• New Democratic Party: 7 seats, 6.3% of the popular vote
• Green Party of Canada: 1 seat, 1.2% of the popular vote
During the runup to the election, Carney unveiled the Liberal Party’s housing strategy as part of its broader national platform. Build Canada Homes (BCH) forms the cornerstone of a $130 billion plan to address housing shortages, support infrastructure growth, and strengthen key areas like national security and healthcare. The full Liberal Party platform is available at https://liberal.ca/strong.
As per the website, through BCH, Canada will:
• Act as a developer to build affordable housing at scale, including on public lands. BCH will develop and manage projects and partner with builders for the construction phase of projects.
• Build faster, smarter, sustainable, more affordable homes by providing over $25 billion in financing to innovative prefabricated home builders in Canada, including those using Canadian technologies and resources like mass timber and softwood lumber. BCH will also issue bulk orders of units from manufacturers to create sustained demand. This will revitalize how we build homes in Canada, bringing forestry, innovation, engineering, manufacturing, and construction together.
• Support affordable homebuilders by injecting $10 billion in low-cost financing and capital for homes that support middle and low-income Canadians. This will include housing for students, seniors, veterans, people with disabilities, and Indigenous housing, shelters, and more.
• Prioritize sustainable building including sustainably sourced wood, recycled content, and lowemissions materials.
• Incentivize companies to hire apprentices and recent graduates by establishing new requirements on federal contribution agreements to major projects that commit industry partners to include significant opportunities for young Canadians.
To help create a better housing market, the federal government will:
• Cut municipal development charges in half for multi-unit residential housing for five years by working with provinces and territories to keep municipalities whole. These revenues will be offset by federal investment in housing infrastructure like water, power lines, and wastewater systems. Cutting development costs in half is expected to spur an estimated $8 billion of private investment, every year, toward building homes.
• Reintroduce a tax incentive for home builders known as the Multi-Unit Rental Building (MURB) which, in the 1970s, spurred tens of thousands of rental housing units across the country.
• Facilitate the conversion of existing structures into affordable housing units.
• Build on the success of the Housing Accelerator Fund, further reducing housing bureaucracy, zoning restrictions, and other red tape so that builders only need to navigate one housing market, instead of thirteen. And we will publicly report on municipalities’ progress to speed up permitting and approval timelines.
• Speed up approvals by reforming and simplifying national building codes; eliminating duplicative inspections and streamlining regulations for prefabricated and modular housing; leveraging preapproved, standardized housing designs across all public lands and encouraging the adoption of the designs as-of-right across the country; allowing builders and other orders of government to apply for multiple projects at once; and fast tracking builders who have a proven record with government.
• Build federal homes in ways that reduce the risk of costly damages. To protect homeowners and renters from costly flood and wildfire risks, federally supported housing will not be built in areas that are at high risk for floods and wildfires. Housing will be built in safer locations, reducing homeowners’ exposure to costly risks and protecting their health and wellbeing.
• Stand up Canada’s high-risk flood insurance program by April 2026 to support homeowners to reduce their exposure to future climate risk. We will expedite work with provinces, territories, and industry to finalize this low-cost program.
Other measures include:
• Cutting income taxes for the middle class and saving dual-income families up to $825 a year. This includes reducing the marginal tax rate on the lowest tax bracket by 1 percentage point.
• Cutting the GST for first-time homebuyers on homes up to $1 million. This will help homebuyers to save up to $50,000.
• Lowering the GST on homes between $1 million and $1.5 million for first-time buyers.
• Reviewing Canada’s mortgage market to provide Canadians with more options while retaining stability in the market.
• Funding home retrofits and lowering utility bills while making it easier for low- and middle-income households, including renters, to adopt heat pumps and energy efficiency upgrades. Eligible costs could include insulation upgrades, heat pump installation, and window replacements.
• Lowering household risks to floods, wildfires, and other extreme weather events. This will help with funding adaptation measures such as repairing or replacing your roof, installing a sump pump, or sealing cracks in your foundations.
The federal government must continue working closely with provinces and municipalities to reduce barriers to housing construction. Cancelling the capital gains tax increase as one of the first actions of the Carney government was a welcome move. We believe that allowing rental housing providers to defer capital gains taxes if they reinvest in more rental housing will further stimulate construction and increase supply. A comprehensive review of CMHC programs is needed to ensure funding effectively supports the needs of rental housing providers and accelerates housing starts.
By Peter Altobelli, VP and General Manager, Yardi Canada Ltd.
Canada's rental market continued its upward trend in Q4 2024, with the national average rent for a twobedroom apartment increasing by 6.7 per cent year-over-year. However, this rate of change is beginning to slow. This moderation is likely due to a combination of factors, including slower population growth and economic uncertainties related to global market conditions, both of which are impacting housing affordability. Drawing on Q4 2024 data from more than 5,500 properties (representing over 492,000 private rental units), this Q1 2025 Canadian Multifamily Report reveals that, while overall vacancy for twobedroom units now sits at 3.2 per cent, major Census Metropolitan Areas (CMAs) continue to see robust demand and elevated lease rates. The result is a market that, although still tight, is beginning to loosen, offering both challenges and opportunities for property owners, managers, and renters alike.
City highlights
Vancouver: pricey but steady
Vancouver remains Canada’s most expensive market for two-bedroom units, with in-place rents at $2,158—about 27.7 per cent above the national average. While new lease rents have increased by 6.6 per cent annually, renewed leases are seeing a lift of 3.3 per cent. Overall growth is still robust, but below peak rates. Vacancy sits at 2.4 per cent, reflecting persistent demand in a city known for its housing constraints. Despite some easing, Vancouver’s two-bedroom market remains tight and highly competitive.
Calgary: rapid supply meets demand
Calgary’s two-bedroom rents stand at $1,733. Although this figure represents the average rent, lease-overlease rent growth has increased by 6.1 per cent for new tenants and 7.8 per cent for renewals compared to last year. Vacancy, however, has risen to 6.8 per cent, notably higher than the national average. Calgary’s rental construction is more vibrant than many other CMAs, helping to address what was once a severe shortage. Still, strong in-migration from other provinces continues to support demand, striking a balance between rising vacancy and healthy changes in rent.
Toronto: strong growth, limited supply
Toronto's two-bedroom units average $1,838 in rent. New leases have seen a 7.7 per cent annual increase, while existing tenants' rents have risen by 2.7 per cent. The 2.7 per cent vacancy rate points to ongoing supply-demand imbalances, although new developments are gradually coming online. Toronto’s population growth is also beginning to moderate—both from policy changes affecting immigration and from some out-migration to smaller CMAs—yet newcomers and local households seeking more space keep up pressure on the market.
Halifax: outpacing the pack
Halifax has recorded the most substantial two-bedroom rent surge among CMAs, with annual leaseover-lease rent growth at 12.2 per cent for new leases and 5.7 per cent for renewals, reaching an average in-place rent of $1,573. Though the city’s overall rental market is smaller than Toronto’s or Vancouver’s, its
accelerated growth underscores that mid-sized CMAs continue to absorb demand spurred by migration and local economic expansion. With a 2.5 per cent vacancy rate, Halifax remains one of the country’s tighter markets.
1. Decelerating population growth: Canada’s immigration policy is shifting. Quotas are set to drop from 500,000 in 2024 to 390,000 in 2025, which could ease demand from new arrivals. Some CMAs, especially those dependent on inbound movers, may feel the impact, potentially slowing overall rent growth.
2. Interest rate and affordability outlook: With benchmark rates lowered to 3.25 per cent, Canadians may enjoy more disposable income as interest payments decline, sustaining rental demand, particularly in regions where homeownership remains out of reach.
3. Shifting political landscape: Political uncertainty—both domestically and abroad—can influence housing policy, immigration levels, and even tariffs, all of which may ripple through the rental market. Combined with local development regulations, these factors will continue to shape supply conditions.
Why focus on two-bedroom units?
Two-bedroom rentals have broad appeal, serving small families, roommates, and remote workers needing office space. As economic and demographic conditions evolve, these units often act as a trendsetter for the multifamily sector, capturing both affordability challenges and the desire for extra room. While the latest numbers suggest a sector stabilizing after years of turbulent growth, rent increases in high-demand areas remain elevated, even as vacancy rates begin to edge upward. Beyond two-bedroom units, the Yardi Canadian Multifamily Report dives into bachelor, one-bedroom, and three-bedroom segments, painting a comprehensive picture of national rental trends and opportunities. This gradual shift in fundamentals provides hope for both tenants and investors, pointing to a more balanced, sustainable future for Canada’s apartment market.
Beyond these market-specific trends, the second edition of RentCafe.com's report, "Canada's Trending Cities for Renters," provides a valuable overview of where renter interest is concentrated at the start of 2025. This report, which can be found within the Yardi Canadian Multifamily Report and online, analyzes millions of interactions on RentCafe.com, including apartment availability, listing views, favourited listings, and saved searches. This analysis reveals that Winnipeg remains the top choice for apartment hunters, followed by Edmonton and Victoria. The report also highlights a trend of renters gravitating toward mid-sized cities, potentially driven by affordability challenges in larger markets. For example, while Toronto remains a popular option, its growth in renter interest is less pronounced compared to these trending cities.
For property managers and owners, understanding regional nuances in the two-bedroom market is crucial for effective portfolio and pricing strategies. This Q1 2025 Canadian Multifamily Report provides datadriven insights to help you navigate rental demand, pricing trends, and new supply. With the economy in flux, proactive planning will be key to addressing shifting renter preferences and maintaining occupancy levels.
Download the full report for a deeper dive into multifamily performance, including additional insights on in-place versus new lease rent growth, vacancy and turnover trends across all unit types, and a closer look at which CMAs are attracting the most renter interest.
Visit www.yardi.com/cndmultifamilyreport to learn more.
CFAA is thrilled to announce the election of its Board of Directors. We are fortunate to have a group of dedicated, passionate industry leaders to support CFAA's mission as the leading advocate for Canada’s rental housing industry.
The new CFAA Board of Directors includes:
• Krish Vadicale, Executive Vice President, Skyline Group of Companies
• Dean Holmes, Executive Vice President, QuadReal Property Group
• Michael Tsourounis, Managing Partner and CoHead Real Estate, Hazelview Investments
• Max Graham, Chief Operating Officer, Avenue Living
• Ruth Buckle, Senior Vice President, Property Management, Killam Apartment REIT
• Kellie Speakman, Vice President, Multi-Family, JLL Canada
• Larry Greer, Senior Vice President, Corporate
Affairs, CAPREIT
• David Trousdale, Executive Vice President, Homestead Land Holdings Ltd.
• Andrew Joyner, Managing Director and Head of Multi-Family, Tricon Residential
• Jerry Drennan, Chief Operating Officer, Drewlo Holdings
• Glen Hirsh, Chief Operating Officer, Starlight Investments
• Christian Szpilfogel, Chief Investment Officer and Co-Founder, Aliferous Group
• Cameron Choquette, Owner, Small Rental Housing Provider
The 2025 CFAA Rental Housing Conference is taking place in Vancouver, BC from May 13 to May 15 at the Sheraton Vancouver Wall Centre. This year’s theme is “Partnering for Progress.” Join senior leaders and decision-makers from across Canada at the country’s premier rental housing event. This year, the CFAA RHC is focusing on innovation, collaboration, and shaping the future of the rental housing industry. Be part of bold discussions, gain valuable insights, and connect with key players driving Canada’s rental housing forward.
Sam Kolias, Chairman and CEO of Boardwalk, will be receiving the 2025 CFAA Lifetime Achievement Award for his visionary leadership and lasting impact on Canada’s rental housing industry. We will be celebrating his achievements at the CFAA RHC celebration dinner on Wednesday evening.
Here's a summary of the schedule for the RHC:
Tuesday, May 13
12:00 PM The Home Depot Building Innovation Tour
5:30 PM West Coast Welcome Reception sponsored by Westland Express
7:00 PM After-party hosted by Wyse Meter Solutions, The Home Depot, and Apollo Insurance
Wednesday, May 14 7:00 AM Breakfast sponsored by LandlordBC
8:00 AM Opening remarks
8:30 AM Executive discussion – Future-Proofing Rental Housing: Technology and Innovation presented by Yardi
9:30 AM
Unpacking Housing Policy: From BC to Parliament Hill
10:15 AM Networking break and Supplier Showcase
10:45 AM The Great Canadian Apartment Superstars: 60 Ideas in 60 Minutes
10:45 AM Crisis Response in Property Management: Floods, Fires and Emergencies presented by Westland Express
11:45 AM Networking break and Supplier Showcase
12:00 PM Lunch sponsored by Egis
1:00 PM Keynote: Greg Lyle, Innovative Research Group
1:30 PM Keynote: Ryan Berlin, rennie
2:15 PM
Shifting the Story: Addressing Rising Rents and Redefining the Industry’s Role in Canada
2:15 PM AI Path to Operational Excellence: Optimizing Residential Properties for the Future presented by Yardi
Wednesday, May 14 3:15 PM
3:30 PM
4:15 PM
6:00 PM
8:00 PM
Thursday, May 15 8:00 AM
8:30 AM
9:00 AM
Networking break and Supplier Showcase
Waste Not, Optimize More: Smart and Sustainable Waste Solutions for Rental Housing presented by Metro Compactor Service
Supplier Showcase and Kijiji cocktail reception
Home Depot celebration dinner
After-party hosted by Rentals.ca
Breakfast sponsored by Eagle Restoration
Yardi Tech Talk: Find Out How AI and ChatGPT Are Transforming Marketing
Bridging the Gap: How Public, Private and Non-Profits Can Address Housing Inequities
10:00 AM ESG in 2025: Strategies for Success in the Apartment Sector presented by Wyse Meter Solutions
11:00 AM Networking break
11:15 AM Mitigating Risks During Challenging and Uncertain Times: Financial Strategies and Tools presented by First National
11:15 AM
Renters’ Habits and Preferences: What Renters Want presented by Rentals.ca and Rentsync
12:15 PM Lunch sponsored by Apartments.com
1:00 PM
2:00 PM
Winning the Talent Challenge: Recrutment, Retention and Workplace Culture
Closing remarks and conference conclusion
For more information on the CFAA RHC, please visit www.cfaa-fcapi.org. We hope to see you at the show.
With spring in full swing and a new year under way, FRPO is energized and focused on advancing our mission to support a thriving rental housing sector across Ontario.
In the wake of the provincial election, we’re pleased to continue our strong working relationship with the re-elected PC government. We’re ready to collaborate on policy initiatives that will increase the rental housing supply and contribute to a more equitable, well-functioning rental market for everyone in Ontario.
With the federal election completed, FRPO will also be engaging with the federal housing minister to champion policies that encourage the development of purpose-built rental housing nationwide. We firmly believe close coordination between the provincial and federal governments is vital to addressing the housing affordability crisis head-on.
At the same time, we remain vigilant regarding ongoing uncertainties around U.S.Canada trade relations and the potential impact of tariffs. FRPO continues to advocate at every level of government to ensure the rental housing sector remains a strong and attractive area for investment, development, and professional management.
On a personal note, I recently had the honour of delivering a keynote at the Toronto Region Board of Trade’s Housing Symposium—an important event bringing together leaders and experts to explore solutions to the housing crisis. In my remarks, I urged the province to introduce a time-limited development charge rebate for purpose-built rentals until 2030 and to implement a zoning framework that would unlock underutilized infill opportunities on existing rental sites. These are pragmatic steps that can immediately help boost rental housing supply across Ontario.
Lastly, I want to extend heartfelt thanks to all our members who have shared their experiences through the Let’s Build Ontario campaign. Your stories reflect the passion, commitment, and high standards that define Ontario’s professional rental housing community. They’re an essential part of changing the conversation around our industry, and we look forward to featuring even more of your stories in the months ahead.
Tony Irwin, President and CEO, FRPO, and Interim President, CFAA
As we move into 2025, the Let’s Build Ontario campaign continues to amplify the voices of rental housing providers, promote pro-housing policies, and continue its advocacy work to bring a more balanced and accessible housing market in Ontario.
Over the last couple of months, the campaign has had an overwhelming response from members who have shared member stories. These firsthand experiences highlight the human side of the rental housing sector—the dedication, hard work, and passion of the thousands of individuals who play a critical role in providing housing to Ontarians. These stories reinforce the reality that providing quality rental housing is not just a business—it’s a commitment to the communities we serve.
Member stories will be rolled out across social media channels in the coming weeks. By continuing to showcase these stories, we demonstrate to policymakers, stakeholders, and the public the importance of a strong rental housing sector. If you haven’t shared a story yet, we encourage you to do so at Member Story Submissions
With the provincial election now behind us, Let’s Build Ontario remains steadfast in its mission to advocate for policies that support purpose-built rental housing. During the election, the campaign engaged extensively with supporters, gathering valuable insights on demographics and housing priorities—information that will continue to shape our advocacy efforts.
But the work doesn’t stop here. As Ontario faces increasing housing demand, the campaign will continue to push for policies that encourage investment in rental supply, reduce barriers to development, and support affordability for all residents.
We will also be calling on members to help promote the campaign in a simple yet impactful way—by linking to the Let’s Build Ontario website. This small action will help expand our reach, increase engagement, and bring greater visibility to the hardworking teams behind Ontario’s rental housing sector.
The road ahead requires all hands on deck. Help us continue the conversation by sharing your stories, promoting the campaign, and engaging with us on social media. Together, we can push for policies that foster a stronger, more sustainable rental housing sector for all Ontarians.
Tony Irwin, President & CEO of FRPO, spoke at this year’s Toronto Board of Trade’s Housing
Symposium—a crucial forum addressing the housing crisis of a generation.
With an outstanding panel of experts, the event drove a much-needed conversation on the missing solutions in our region’s housing strategy, from modular construction and robotics to increasing missing middle density in existing communities. Soaring construction costs, labour shortages, supply chain disruptions, and high interest rates are stalling market-driven development, at a time when Ontario’s population continues to surge. The need for action has never been greater.
Innovation, cutting red tape, and coordinated action from all levels of government to remove barriers and stimulate purpose-built rental housing are the only ways we’ll overcome this crisis.
These types of discussions are critical to advancing real solutions, and FRPO is proud to be part of the movement to build the rental housing Ontario desperately needs.
Sure! Here’s a rewritten version of the article that keeps all the key facts and figures while improving clarity, flow, and readability:
Although there have been repeated calls to “build, build, build” and a surge in purpose-built rental developments, Ontario continues to fall short of meeting rental housing demand. According to the latest Ontario Rental Market Study Update, developed in collaboration between FRPO and Urbanation, the province can expect a rental supply shortfall of 207,000 units over the next 10 years unless there is significant improvement in the economic feasibility of building new rentals.
The study projects a 71,000-unit deficit between 2024 and 2028, with an additional 136,000-unit gap expected from 2029 to 2034. This shortfall is due to a mix of rising demand and development challenges. Recent cuts to immigration and temporary foreign worker targets may ease pressure in the short term, but they will not overcome the effects of record-breaking population growth. Over the past three years, Ontario saw an influx of 1.3 million newcomers, which contributed to the rental supply deficit of 147,000 units. Since 2016, Ontario has experienced a 213,000-unit deficit, most of which after 2021 due to surges in immigration. By 2034, demand is expected to rise by 418,000 rental units, while total supply from purpose-built and condo rentals is expected to increase by 211,000 units.
In 2024, over 50,000 rental units were added to the market, which is the largest annual increase in over 35 years. However, the vacancy rate has
held steady at 2.7 per cent. This is partly due to the supply gap, as well as the faltering condo market. Condo starts fell by 25 per cent in 2024, while more than 2,800 projects were cancelled. Rising interest rates cooled investor interest, which has negatively affected the pre-sale buying frenzy seen during the pandemic. Purpose-built rental starts also declined by 5 per cent, which is the first annual drop seen over the last 10 years.
FRPO is cautiously optimistic about the future of purpose-built rentals. According to the report, “Purpose-built rental construction is expected to eventually return to its growth trajectory, but supply from condo investors will shrink significantly as completions fall to multi-decade lows due to reduced presale activity.” In 2024, more than 360,000 purpose-built rental units were proposed across the Greater Golden Horseshoe and Ottawa. However, of the 178,000 units approved, many are stuck in pre-construction.
Several challenges are stalling new development, including:
• High municipal fees
• Lengthy approval timelines
• Soaring construction costs
• Ongoing trade conflicts with the U.S.
The Housing Accelerator Fund and removing the GST from purpose-built rental projects have helped to address these issues. However, bolder moves are required, such as temporarily waiving development charges or property taxes, to truly address the supply problem. The report stated, “The province has made progress in expanding its rental pipeline thanks in part to targeted policies. But much more must be done to meet the rising demand over the next decade.”
FRPO forecasts purpose-built rental starts will decline in 2025 and 2026 before rebounding in 2027, as interest rates and construction costs stabilize and more incentives kick in. Of course, this assumes the U.S. and Canadian governments will not introduce new tariffs. Under this scenario,
purpose-built rental starts could total 174,000 units over the next decade, an increase of 53 per cent from the nearly 114,000 units started in the past 10 years.
However, condo construction is another issue. Given that presale activity is lagging and the market depends on private investors, starts are expected to fall to 177,000 units, which is a 40 per cent decrease compared to the previous decade. In the short term, completions will remain high, as more than 50,000 units are expected in both 2025 and 2026, with another 48,000 units expected in 2027. However, by 2028 and 2029, completions are expected to drop to only 26,000 units per year, which is the lowest level in a decade.
Visit frpo.org to read the Ontario Rental Market Study Update.
CFAA Rental Housing Conference
Date and Time: May 13 – May 15, 2025 | 8:00 am –5:00 pm
Join senior leaders and decision-makers from across Canada at the country’s premier rental housing event. This year, we’re focusing on innovation, collaboration, and shaping the future of our industry. Be part of bold discussions, gain valuable insights, and connect with key players driving Canada’s rental housing forward. Don’t miss this opportunity to help shape what’s next— see you in Vancouver!
FRPO Charity Golf Classic
Date and Time: July 22, 2025 | 8:00 am – 6:30 pm
Another year, another incredible golf tourney! We’ll be hitting the links in support of Interval House on July 22. This event will take place at Lionhead Golf Club with registration opening in late spring. This event sells out quickly, so keep an eye out for your emails for registration opening.
FRPO is the largest association in Ontario representing those who own, manage, build and finance residential rental properties.
For membership inquiries please contact Lynzi Michal, Director, Membership & Marketing
Federation of Rental-housing Providers of Ontario
801-67 Yonge Street, Toronto, Ontario M5E 1J8
416-309-8744
lmichal@frpo.org www.frpo.org
Since MetCap Living established itself as a leader in property management, we have routinely been asked one, simple question; “Can you help us run our property more effectively?” And, for well over thirty years, the answer has remained — Yes, we can! Our managers are seasoned professionals, experienced in every detail of the day to day operations and maintenance of multi-unit rental properties. From marketing, leasing, finance and accounting, to actual physical, on-site management, we oversee everything.
Guaranteed vacancy reduction, revenue growth and net profitability — when you’re ready to discuss a better option; we’ll be there. You can count on it.
Kazi Shahnewaz Director, Business
Development
Office: 416.340.1600 x504
C. 647.887.5676
k.m.shahnewaz@metcap.com
www.metcap.com
RHB’s forum for rental housing associations to share news, events and industry
HDAA discusses the new Rental Housing Protection By-law, Renovation Licence and Relocation By-law, and updates on the Licensing Pilot Project. pg. 49
EOLO provides an update on the decrease in the City's multiresidential tax rate and the key economic forces driving the market. pg. 53
RHSK introduces the association's new CEO and website, and provides an update on association events. pg. 57
ARLA discusses the City’s innovative approaches to addressing homelessness and housing insecurity, upcoming changes to the RTA, and the benefits of joining the association. pg. 61
Check out the digital version of RHB Magazine for news from LPMA
Complimentary technical help and incentives up to $200,000†
The Affordable Housing Multi-Residential Program provides incentives for energy assessments and high‑efficiency equipment, plus free in suite upgrades that lower energy costs, reduce greenhouse gas emissions and improve comfort.
*
Incentives for building upgrades and more:
• Boiler optimization
• Building automation controls
• Variable frequency drives
• Water heaters
• Hybrid heat pumps
• Free heat reflector panels
• Reduce energy, maintenance and operating costs.
• Control costs more effectively with automated systems.
• Improve the energy efficiency of your building.
• Enhance resident comfort, health and well-being.
Spring is finally in the air after what seemed like a long and snowy winter. The HDAA is looking forward to our next events, including our May 21st dinner meeting and our June 10th golf tournament, and will be continuing our work to address municipal by-laws aimed at the rental housing industry. The City of Hamilton has brought in a few new initiatives, including a new Rental Housing Protection By-law and a new Renovation Licence and Relocation By-law, and will see updates on the Licensing Pilot Project.
- Daniel Chin, President, HDAA
As of January 1, 2025, Hamilton's new Rental Housing Protection By-law has come into effect, requiring property owners to obtain a permit before demolishing or converting residential rental buildings. This measure is meant to safeguard the City’s existing rental stock, particularly amid concerns about displacement due to redevelopment, and ensure that affordable and mid-range rental units remain available to residents.
The by-law applies to any property that contains six or more residential units and at least one rental unit. Dwelling units are still considered rental units regardless of whether they are occupied by a current tenant. A permit to demolish will cost $7,500 with an additional cost of $300 per unit, and a permit to convert will cost $4,500 with an additional cost of $75 per unit.
Also in effect as of January 1, 2025 is Hamilton’s new Renovation Licence and Relocation By-law. This by-law aims to address bad faith evictions and protects tenants through new requirements for landlords who want to complete renovations where vacant possession of a unit is required. The by-law applies to all rental housing units anywhere in Hamilton.
All landlords must apply for a renovation licence within seven days of serving an N13 notice to tenants to vacate their rental unit for extensive repairs or renovations.
Landlords must also provide temporary accommodation (comparable to the tenants’ original unit in cost, location, and size) or compensation for tenants exercising their right of first refusal to return to their rental unit after the work is completed. Upon the tenant’s return, the rent is to be no more than what could be lawfully charged if there had been no interruption to the tenancy. The cost of the renovation licence is $715, with an annual renewal fee of $125.
Hamilton's Rental Housing Licensing Pilot Project, launched in 2022, remains active in Wards 1, 8, and parts of Ward 14. The program requires landlords of properties with five or fewer units to obtain a license and comply with safety and maintenance standards.
The initiative aims to protect tenants by improving housing conditions and holding landlords accountable for the state of their properties. The pilot project is due to end on December 31, 2025. There will be a final report by City staff in October or November and the HDAA will be ramping up our efforts to see an end to the license once and for all.
CityHousing Hamilton (CHH) has made some significant strides in addressing affordable housing needs, reducing its vacancy rate from over 9 per cent in early 2023 to just 2.2 per cent in early 2025. This improvement was largely driven by CHH clearing a backlog of nearly 500 units, many of which required repairs or inspections. The result is a notable increase in available affordable housing options for Hamilton residents.
Along with increased CHH capacity is the new temporary Barton-Tiffany Shelter site, which is now at full capacity and home to 80 residents previously living unhoused. Operated by Good Shepherd in partnership with the City, the shelter provides 40 heated and cooled single and double occupancy cabins (20 of each), along with essential services and supports. The shelter site is designed to be low-barrier and accommodates individuals who may not be able to access traditional shelters, including couples and those with pets. The addition of this 80-bed site and another 192 beds added within Hamilton’s existing shelter system contributes to an 80 per cent increase (272 beds) in Hamilton’s overall shelter system.
As of March 2025, the average rent for all property types in Hamilton stands at approximately $1,985 per month, marking a year-over-year decrease of $215. This trend is consistent across various housing types, with one-bedroom apartments averaging $1,625 per month and two-bedroom units at $1,924 per month. The City's rental vacancy rate has also seen an uptick, rising from 2.4 per cent in 2024 to a projected 2.8 per cent in 2025. This increase is attributed to a record level of housing completions and a slight decline in demand, particularly due to reduced international migration. These developments suggest a more balanced rental market in Hamilton, offering potential relief for renters while maintaining opportunities for landlords.
The HDAA had another great dinner meeting on March 5. We were joined by Meherzad Bakht, Senior Manager, Sales, from Yardi Canada, who presented on the latest Yardi report on rental pricing trends. We were also joined by Anthony Passarelli, Senior Specialist, Market Advisory (Southern Ontario) from the Canada Mortgage and Housing Corporation (CMHC), who presented the latest CMHC findings. Our President, Daniel Chin, also spoke on the latest by-law updates in Hamilton.
Meherzad began by discussing how a lack of affordable options is keeping vacancy rates low, 3.6 per cent nationally, and turnover rates remain low also. There is some rent deceleration but rents are still above historical levels. Undersupply is to remain a major issue for years, with between 4.2-5.3 million homes needed by 2030. This lack of housing is suppressing household formation with many not starting families or staying with parents/roommates. Supply is not growing fast enough to meet targets as well and this is due to several factors such as high costs, development fees, and slow approval processes.
Purpose-built rental completions and starts are both up but Ontario will need policy interventions to continue encouraging increased starts and increased supply. With regard to rental trends, in-place growth increased 5.8 per cent year over year to a national average of $1,565 and new leases grew 6.4 per cent year over year but is down from a peak of 13.1 per cent in Q3 2023.
Anthony presented findings from CMHC that reiterated some similar trends. With regard to vacancy rates, condo vacancy rates are staying relatively low but purpose-built vacancy rates are increasing. This may be due to condo owners being more likely to make rent concessions in an effort to rent a unit and cover costs. Vacancy rates are a little higher but they are still not as high as we have seen in the past (e.g., 2.8 per cent in 2024 versus 4.6 per cent in 2019 for one-bedroom units). Vacancy rates are highest in the most expensive units as people are trying to lower their housing costs. In Hamilton specifically, vacancy rates increased the most in West Hamilton (where McMaster University is located) due to lower student numbers (mainly international). On a similar thread, rents are not growing as much near Mohawk College due to lower demand as well.
There should be significant rental supply growth in Southern Ontario this year, including in Hamilton, but that may result in higher vacancy rates as well. Although the supply of purposebuilt rentals is slowly starting to increase, these units are typically unaffordable for most renters— generally an income of $60,000 is needed for even the most affordable units in Hamilton—so it may take a while for this supply to trickle down. In recent years, Hamilton had a population surge largely from international migration and nonpermanent growth. This growth is now reversing, however, as we are hitting negative numbers after significant slowing at the end of last year. This will contribute to higher vacancy rates as well and perhaps lead to further decreases in rents.
Generally, it is still hard for renters to become homeowners as fewer renters can buy a starter home in Southern Ontario due to affordability. With the uncertainty in the economy and looming tariffs, many are waiting for homeownership as well.
The HDAA will be holding our next dinner meeting on May 21. Make sure to mark your calendars and keep an eye out for our emails for more details.
The HDAA is very excited to be hosting our next golf tournament in June! Our golf tournament is one of our more popular networking opportunities and a great way to spend a day out of the office. As in previous years, you can look forward to a great day of golfing, an opportunity to win some great prizes, and meeting other housing providers and suppliers. We will be bringing back the 50/50 draw as well as our greatly anticipated wine cellar prize. You may find more details and register on our website.
Since 1960, the Hamilton & District Apartment Association has grown significantly. Our members manage over 30,000 units throughout Hamilton, Burlington, Brantford, Guelph, Mississauga, Oakville, St. Catharines and into the Niagara Peninsula. The association is a highly respected organization, sought out regularly by government, industry, media and the public.
Interested? Call us or join online! Ph: 905-616-2058 Web: www.hamiltonapartmentassociation.ca
EOLO and Ottawa’s landlords and tenants have won a tremendous victory at Ottawa’s City Council. After many decades of paying a higher tax rate than homeowners, Ottawa’s tenants and landlords are on track to pay the same tax rate as homeowners in as little as three more years. The first article below reports on that tremendous win.
As well as the property tax win, EOLO’s April 16 Education Event addressed the green bin roll-out, upcoming water billing reforms, and the City’s anti-renoviction by-law study, as well as the main federal political parties’ promises on rental housing, and the likely effects on Ottawa of the current tariff and trade turbulence. See the second article below for the likely effects of the trade war.
- John Dickie, Chair, Eastern Ontario Landlord Organization
EOLO has been working on the multi-residential tax policy issue since our inception as an association in 1990. We have worked with tenants, with experts, and with City Councillors of all political stripes. Finally, with Council’s adoption of a four-year plan beginning in 2025, we should see a multi-residential tax ratio of 1.0, which will mean tenants and homeowners pay the same tax rates on their dwellings. (Homeowners pay their taxes directly to the City. Tenants pay their taxes through the rent they pay their landlords, which their landlords pay to the City.)
EOLO’s landlord members own and manage close to 40,000 residential rental units in the City of Ottawa, most of them in the multi-residential tax class, with seven or more units on each roll number.
For reasons that are buried deep in the past, over many decades before 1990, multi-residential properties came to be taxed at significantly higher tax rates than residential properties. Economists are clear that differential property taxes are ultimately paid by the users of the properties through their rents. That was also the conclusion of the Ontario Fair Tax Commission appointed by the Ontario government in 1990, and the City of Ottawa’s Task Force on Property Taxes, which reported in 2001.
In Ottawa, in 2024, tenants currently pay municipal property taxes at a rate 41 per cent higher than the rate that homeowners pay, through a tax ratio of 1.41 (rounded). This disparity is unfair on its face. Numerous studies have found the disparity to be unjustified. The Province recognized that the fair rate for tenants was the same as the rate for homeowners when it set the education property rate at the same rate for both. The Province also set the target for municipalities at a nearly equal
tax rate when it set the band of fairness (i.e., the target) for the multi-residential tax ratio at between 1.0 and 1.1.
From the inception of rent control in 1975, it has operated on a “cost pass-through system”. Under that system, landlords have been allowed to apply for above-guideline rent increases to recover unusual increases in property taxes.
In 1997, when the provincial government had reformed property taxes to make the tax discrepancies visible, it also provided for all but very minor tax decreases to be passed through to tenants automatically, without the need for any action by tenants.
In Ottawa this year, City Council faced a choice. If Council had made no adjustment to the multiresidential tax ratio, landlords would have been able to apply to raise rents above the guideline to recover the extraordinary property tax increase, along with the substantial increase in the solid waste charge that took effect on April 1. That would have increased many tenants’ rents and reduced affordability.
Alternately, Council had the ability to adopt the recommendation of the staff report, and by doing that, eliminate the above-guideline rent increase, and produce a modest rent reduction for tens of thousands of tenants.
Geoff Younghusband of Osgoode Properties, and John Dickie, EOLO Chair, spoke at the Finance and Economic Development Committee on April 1 to urge Councillors to adopt the recommendation of the staff report, which called for a decrease in the multi-residential tax ratio to trigger modest rent reductions, and thus improve rental affordability.
On April 16, City Council voted to approve the proposed four-year plan to reduce the multiresidential tax ratio to 1.3 in 2025, to 1.2 in 2026, to 1.1 in 2027, and to 1.0 in 2028. (City Finance staff is to review the situation if there is a province-wide reassessment before the City reaches 1.0.)
The tax ratio reductions will trigger tax decreases from year to year. Those tax decreases will trigger automatic rent reductions on December 31 of each year from 2025 to 2028.
The decrease in the ratio is especially valuable in 2025 because it will avoid an increase in City taxes and charges, which was going to be about 7 per cent for most apartment building, and higher than that for some buildings, especially buildings with relatively low rents.
This is a tremendous victory for tenants, residential landlords, and property tax fairness in Ottawa! EOLO will provide members with more information in August or September to help implement the tax-driven rent reductions.
The panel discussion at EOLO’s Education & Networking Event on April 16 addressed the key economic forces driving the Ottawa rental market, and the likely effects of the current tariff and trade turbulence.
John Dickie moderated the panel consisting of Geoff Younghusband of Osgoode Properties, Kevin Harper of Minto Properties, and Dan Dixon of Budson Consulting.
John Loubser of Hazelview Properties participated in the planning session, although it turned out he could not join the panel presentation.
Background population dynamics
As background, Dan Dixon provided data from Statistics Canada.
Figure 1: Ratio of new residents to new dwellings (Ottawa)
Rent increases modest sharp modest sharp
Historically, for every two people added to the population, one new dwelling was completed. That also applied over 2020 through 2022. However, from 2017 to 2019, and 2023–2024 the ratio was one completion for every four new people. Those were the periods of sharply rising rents.
Figure 2: Average number of new homes per year (Ottawa)
Note the change in the composition of the new housing supply shown in Figure 2. Until 2023, Ottawa’s new housing supply was predominantly ground-oriented housing. In 2024, it became primarily rental apartments.
Kevin noted that the change in the composition of new supply will likely continue for at least several years. It has been caused by provincial policy changes, including limitations on the expansion of the urban boundary, minimum density requirements, and a demand for increased density around transit stations. These policies appear likely to continue.
However, the growth in the population may be disrupted in the near term. Although Canada will continue to accept a substantial number of new permanent residents each year, the federal
government plans to reduce the number of temporary residents (temporary foreign workers, foreign students, and asylum seekers) to 5 per cent of total population from the current level of 7 per cent. This will require a reduction of approximately 450,000 temporary residents in each of 2025 and 2026, which may push population growth slightly negative in those years before it resumes at more normal levels.
Whether that will be achieved nationwide, or in Ottawa, remains to be seen, but the federal plan has already led Algonquin College to phase out programs because they will not have the foreign student tuition fees to pay for them.
As many people know, a tariff is a tax imposed by a country on goods imported into that country. It is paid by the importer of the goods and is usually passed on to the consumers of the goods through a price increase. Higher prices mean that a lower quantity of goods will likely be bought, which will result in less production and fewer jobs in the exporting country. That means a lower Gross Domestic Product (GDP) and potentially a recession in the exporting country.
U.S. tariffs apply to goods being exported from Canada to the U.S. On the other hand, Canada’s “counter-tariffs” apply to goods being imported from the U.S. to Canada.
The panelists agreed that for rental housing, the most significant direct effect of the various tariffs would be to increase the construction costs of new housing. Estimates of the increase vary between 3 per cent and 11 per cent.
However, as Kevin pointed out, a worse problem is that the trade turbulence makes investors wary of the future. He personally knows of several rental housing projects that made good sense two months ago for which the necessary equity cannot be found because investors do not want to commit their money under the current conditions of economic uncertainty.
Geoff noted that the tariffs will have little effect on operating costs. However, a recession, or the fear of a recession, usually results in many tenants staying put, resulting in lower turnover. Recessions also result in other tenants doubling up, or in young people moving back in with their parents. Job losses will lead to less rental demand.
All agreed that Ottawa will likely not be much affected by direct manufacturing job losses, but we would be affected if the next federal government decides to cut federal jobs in Ottawa (e.g., to offset increased spending on tariff relief, or to limit the growth of the deficit).
EOLO thanks all the panelists for their time and insights.
homes for thousands of families across Saskatchewan. Their efforts are the foundation of conference to date in Saskatoon. The event welcomed 250 attendees, including individual investors, C-suite executives, and full property management teams. We also hosted more than 30 vendors as part of the largest rental housing supplier tradeshow in the province. This sold-out event has become a must-attend for suppliers, vendors, and housing professionals— and we’re thrilled to announce that the Rental Housing Conference will return to Saskatoon
2025 will be a big year for the association as we launch our new website and debut an online education course for members. The new website will deliver the same trusted services in a fresh, member-friendly format—bringing together resources, educational materials, legal forms, and landlord tools all in one place. It will also feature an improved Service Member suppliers. Our online education course marks the beginning of a new era in personal and professional development. Designed by a team of industry professionals, this self-paced, engaging course will help landlords, property managers, housing providers, and investors navigate the legal landscape of providing rental housing in Saskatchewan with confidence.
remains a great place to invest, grow your business, and raise a family. With vacancy rates remaining low, the Saskatchewan rental market is strong—and so is our community. I’m truly excited to begin this next chapter of growth for our association as we continue our positive
The Board of Directors of RHSK is pleased to announce the appointment of Landon Field as the organization’s next CEO.
“Landon has been a dedicated member of our team for several years, building strong relationships with members and various stakeholders through his work at events and by providing direct support,” said Sheena Keslick, Chair, RHSK Board of Directors. “His passion and unwavering commitment to housing, along with his steadfast dedication to the organization’s mission, made him an exceptional choice to lead Rental Housing Saskatchewan into its next phase of growth.”
With a strong background in leadership and a deep understanding of the housing sector, Landon brings the right mix of experience and vision to the CEO role. The Board is confident that his strategic mindset and memberfirst approach will continue to strengthen the organization and its impact across the province.
During his tenure with the association, Landon has played a key role in several major initiatives, including leading the association’s recent rebrand, hosting the largest conference in its history, and helping grow the membership to record levels.
As we look ahead, we’re excited to build on this momentum under Landon’s leadership and remain focused on advocating for and supporting the rental housing community across Saskatchewan.
This year, RHSK continued its tradition of delivering valuable educational events for members across the province. In January, we hosted the highly anticipated CMHC Rental Market Report event in Saskatoon, featuring CMHC Economist Taylor Pardy, who presented the 2024 report. The session drew 70 in-person attendees, with an additional 20 joining virtually.
In April, we held a “Renting to Newcomers” workshop in Regina, presented in partnership with the Regina & Region Local Immigration Partnership and generously sponsored by B&Bowa’s Cleaning Services. We also co-hosted a successful Landlord Engagement Session in partnership with Saskatoon Housing Initiatives Partnership and Metis Nation Saskatchewan that welcomed 50 attendees.
Looking ahead, RHSK will offer a virtual tenant screening webinar in partnership with SingleKey and plans to host additional workshops in Saskatoon, Regina, and online. Additionally, the Saskatchewan Rental Housing Provider Legal Education will be delivered in-person and online for members to enhance their professional development and obtain certification.
In the coming weeks, the 2025 Rental Housing Awards presented by Yardi will begin accepting applications. There are 11 award categories including Rental Housing Provider of the Year, Property Manager of the Year, Rental Development of the Year, and awards highlighting accomplishments in customer service, executive leadership, community involvement, service members, tenant & building safety, and employee recognition.
RHSK is proud to announce the official launch of our newly redesigned website—built to better serve our members with a clean, user-friendly design and a strong focus on usability, convenience, and member needs.
While the look is fresh and the navigation is streamlined, you’ll still find all the essential tools and services you depend on—plus a few new features designed to make your experience even smoother.
Here’s what you’ll find on the new site:
• A full library of up-to-date forms from the Office of Residential Tenancies (ORT)
• Access to RHSK-written warnings and notices tailored specifically for Saskatchewan rental housing providers
• Custom reminders, templates, and other helpful tools for managing your rental business with confidence
• A robust collection of educational resources, including guides, tip sheets, and best practices to support you in staying informed, compliant, and successful
• Access to our Service Members and their offerings
Whether you’re a new landlord or a seasoned housing provider, our new platform is designed to save you time, keep you informed, and strengthen your connection to the rental housing community in Saskatchewan.
Explore the site and see what’s new at RentalHousingSK.ca.
We’re here to support you — every step of the way.
Saskatchewan continues to be an affordable place to live, work, and raise a family. In the recent 2025 Provincial Budget, several commitments were made that align with the Secure Homes, Strong Future policy blueprint—developed and advocated for by the Saskatchewan Housing Leaders, including our organization. The Government of Saskatchewan increased the First-Time Home Buyers’ Tax Credit by 50 per cent, reintroduced the Home Renovation Tax Credit, made the PST rebate on new home construction permanent, and maintained the secondary suite incentive.
RHSK CEO Landon Field was joined by Board Members Brent Sjoberg and Amanda Bolan at the Legislative Building in Regina for a reception hosted by The Saskatchewan REALTORS Association.
The team was able to advocate on behalf of rental housing providers across the province and connect with elected officials from both political parties, share in conversation, and promote the industry. Your association works every day to advocate on behalf of the hundreds of members across the province.
RHSK will continue to advocate for policies that will have a positive impact on rental housing providers in the province.
As the voice of landlords in Saskatchewan, we deliver knowledge, promote best practices, and advocate for a healthy and resilient rental housing industry. We are the leading community of industry professionals who are proud to provide safe, high-quality rental homes for the people of Saskatchewan.
We work to ensure Saskatchewan’s rental housing industry meets the needs of renters, owners, and managers. Our team is dedicating to serving our members in any way that we can.
Landon Field, Chief Executive Officer
1705 McKercher Dr, Saskatoon, SK S7H 5N6
eo@skla.ca
As we move into 2025, our membership continues to remain strong and our 2025 events are well under way. The federal election, which has been decided, has been on our collective minds, and there will be change. No matter who governs, ARLA will continue to advocate for our membership’s needs and provide training, information, and networking opportunities.
Looking ahead to the second half of 2025, we plan to continue raising the bar with better events, more opportunities to connect, and updates on the issues that matter most to our members, both at the local and provincial levels. Our goal is to keep our members informed on relevant municipal and provincial issues and market updates to ensure you are informed, engaged, and empowered.
- Donna Monkhouse, Executive Director
At the end of March, Edmonton city councillors published a report on the Alberta government’s role in addressing homelessness in the province. City council also discussed how to improve services and access to housing for Edmonton residents. Some of the published recommendations included creating a fund for accelerated retrofits to create more housing, a platform for collaboration between social agencies and landlords, and a peer-support service for vulnerable tenants.
On April 8, City council approved $3.5 million for three new, innovative approaches to addressing homelessness and housing insecurity, as recommended by the Community Mobilization Task Force:
• The Edmonton Community Foundation will create new housing for vulnerable citizens by retrofitting underused non-residential buildings
• Islamic Family and Social Services Association will create a digital platform that will help tenants find and maintain suitable housing options by expanding connections between housing providers and social service agencies
• The Canadian Mental Health Association - Edmonton Region will hire, train, and coordinate peer support workers to help tenants navigate complex systems, develop essential life skills, and build social connections
On March 24, Edmonton Mayor Amarjeet Sohi announced his candidacy for the federal Liberal
Party in the Edmonton Southeast riding. This move marked the mayor’s return to federal politics. Sohi temporarily stepped away from his duties as mayor of Edmonton to focus on the campaign. He has stated he would resign as mayor should he win a seat in the federal election. However, Sohi lost to Conservative hopeful Jagsharan Singh Mahal, who won 53.6 per cent of the vote. Sohi served as a Liberal MP and cabinet minister before losing his seat in 2019. He was elected mayor in 2021 and was planning to run again for mayor before this move to federal politics.
On April 10, City council discontinued the City Farms program in Edmonton due to budget decisions. Since 2020, City Farms had repurposed five acres at the Old Man Creek Nursery to grow produce for the Edmonton Food Bank. Over the last five years, they donated more than 253,000 pounds of fresh produce, including squash, root vegetables, corn, garlic, and onions, to support food-insecure families. The program also served as a community engagement initiative, involving more than 250 volunteers in hands-on learning experiences related to urban agriculture. Local non-profit agencies have voiced their concerns about the closure of City Farms, as there will be some impact on food security in the region.
The Residential Tenancies Act (RTA) in Alberta is being updated to include a clause on electronic
communication. This amendment will allow for electronic service of notices, orders, and other documents in specific circumstances. To be considered, the electronic method must be able to produce a printed copy of the notice and must be used with the recipient’s electronic address. The update to the RTA is currently awaiting its third reading, which would be the final stage of becoming law.
If you invest in rental properties in Alberta, consider joining the Alberta Residential Landlord Association (ARLA) for numerous compelling reasons. Your membership supports advocacy for the Alberta multifamily housing industry, education, and much more.
Alberta is one of three provinces in Canada without rent controls, and ARLA is dedicated to maintaining this status. We consistently advocate to ensure our voices on issues and solutions are heard. The absence of rent controls provides choices for tenants and keeps rents affordable. Despite Alberta experiencing one of the highest percentage rental increases in 2024, rents remain more affordable than in many other provinces, offering competitive rental prices.
In 2024, ARLA published a research document on Alberta’s rental market dynamics and policy landscape, which is available on our website. Increased migration and demographic trends in Alberta have impacted rent prices due to supply constraints. Housing providers face higher costs for mortgages, utilities, property taxes, and maintenance, affecting profitability. Over the past decade, Edmonton has led with some of the lowest rent prices and smallest increases. Average rents in Alberta saw little to no increase from 2013 to late 2024. We invite you to read the report to learn more about Alberta’s rental market.
ARLA is a non-profit, membership-based association that educates and advocates for housing providers in Alberta. Established in 1994, we have a strong and growing membership. We provide all forms required to satisfy the Residential Tenancies Act (RTA) in Alberta. Our monthly seminars, webinars, and luncheons cover a range of relevant topics. We also have a network of reliable service providers for our landlord community.
Each year, we host a trade show and an awards luncheon to honour industry professionals. This year’s event was held on April 25, 2025, at the River Cree Resort. We hope you were able to attend this great event. We also organize a golf tournament at the Quarry, a soldout event known for its great atmosphere. Our networking events, such as the appreciation BBQ and lawn bowling, offer additional opportunities for connection. Members benefit from discounts on forms and services, including insurance, credit checks, and RTDRS representatives. We also offer an RTA workshop webinar four times a year and an online RTA course called SuiteSmarts.
We provide monthly updates on government issues, industry news, and market trends. With Edmonton’s municipal election approaching, we are preparing our issues for the candidates to help our members make informed decisions. We are collaborating with other associations on waste management issues in Edmonton to control contractor costs. We stay actively involved with government activities to ensure our voice is heard.
ARLA welcomes members from single-unit landlords to large-scale landlords and REITs, as well as not-for-profit groups. If your company is a member, all employees can participate in ARLA events and activities.
Discover the many benefits of ARLA membership by visiting our website at www. albertalandlord.org or contact us to learn how you can benefit from becoming a member.
SuiteSmarts is an online interactive learning tool designed to help Alberta landlords become better acquainted with Alberta’s Residential Tenancies Act. This is an excellent opportunity for people new to the rental industry to learn about the RTA, or for veteran landlords who would like to brush up on their knowledge of the legislation, in this user friendly, self-paced learning format.
SuiteSmarts consists of seven hours of online learning, which is accessible 24/7, in nine training modules. ARLA members can take the course at a reduced rate of $19.95 (compared to $79.95 for non-ARLA members). Attendees receive a certificate of completion upon passing the exam. For more information and to sign up, please visit www.suitesmarts.ca.
April 25, 2025 – Landlord Resource Trade Show and ARLA Achievement Awards
ARLA held its fourth annual Landlord Resource Trade Show and Achievement Awards at the River Cree Resort & Casino. We had great attendance and celebrated the significant achievements of our members at this amazing annual event. Award winners will be posted online.
May 22, 2025 – Handling Challenging Calls Webinar with CMHA
This webinar will be presented by the Canadian Mental Health Association. It will examine barriers that can come up when communicating with clients by phone or text and suggests strategies that can help us overcome these barriers.
July 18, 2025 – Member Appreciation BBQ
We will be holding our annual Member Appreciation BBQ, where we look forward to
chatting with our members. Last year we fed more than 180 members over the lunch hour, and had an incredible day.
October 10, 2025 – RTA Fundamentals Workshop Webinar
9:30 am – 12:30 pm
This webinar is presented by Chrystal Skead, CPM, ARM, Clear Stone Asset Consulting, who has more than 30 years of experience in managing multifamily, condo, and mixed-use properties. This workshop empowers attendees and their teams with being compliant in their rental business by learning to navigate the Residential Tenancies Act. This workshop will cover:
• How to legally handle a security deposit
• How to screen new residents
• The rights and covenants of landlords and tenants
• The requirements for completing Premises Condition Inspection reports
• The difference between a fixed term, periodic, and implied periodic tenancy
• How to identify and handle non-tenants
• Legal entry of the premises by the landlord
• Laws restricting rent increases
• Assigning and sub-letting leases
• How tenancies may be terminated
• Different types of evictions, how they are issued, and use of the Dispute Resolution Service
• How to identify and handle an abandoned premises and goods
• Domestic violence updated legislation
ARLA offers the RTA Fundamentals Workshop four times per year. Members pay $75.00 to attend; non-member pricing is $125.00 per person.
September 5, 2025: ARLA Golf Tournament
For more information about becoming a member of the Alberta Residential Landlord Association (ARLA) please feel free to email donna@ albertalandlord.org or you can call our office directly and speak to us at 780 413 9773. Visit our website at www.albertalandlord.org to learn more about us!
Providing Expertise in Building Science and Structural Restoration
Garage & Balcony Assessment & Restoration
Building Cladding Design, Assessment & Remediation
Roofing System Design, Assessment & Remediation
Building Condition Assessments
Capital Planning
Building Renewal
Energy Audits and Modelling
As LPMA President, I’m proud to share the progress we’ve made in supporting landlords and property managers. Our association has been working diligently to develop a standardized commercial lease that ensures clarity and protection for landlords and tenants. This lease provides a solid framework that aligns with industry best practices, helping to streamline leasing processes for our members.
To support education and collaboration, we hosted a Lunch and Learn event on March 20. Industry experts discussed key elements of commercial leasing, best practices, and legal considerations. As with other events, it was an excellent opportunity to stay informed and network with peers.
Also, on April 8, we held our annual trade show. Every year, this premier event connects landlords with industry vendors and showcases the latest innovations in property management. If you missed it this year, we hope to see you there in 2026!
- Richie Anand, President, LPMA
Landlords who are planning renovations so extensive that they need tenants to move out will now have to show that they are terminating residents’ tenancies in good faith.
London city council approved the Rental Unit Repair Licence (Schedule 23 of the Business Licensing Bylaw) last September and it took effect on March 1. The aim of the combined licence and licensing bylaw is to protect tenants from a renoviction, which entails having tenancies terminated under a landlord’s pretext of carrying out a renovation requiring a building permit.
London is the second municipality in Ontario after Hamilton to pass a bylaw against bad-faith evictions. Toronto has followed suit and its bylaw will take effect on July 31.
While landlord advocates see the licence as fair, they are concerned about the costs and red tape involved.
“It's an extra layer of requirements for landlords when they want to do repairs and renovations that would necessitate the giving of an N13 (eviction) notice under the Residential Tenancies Act (RTA),” said London lawyer Kristin Ley.
“They are repairs and renovations that are so extensive they require a building permit and for the tenant who lives in the unit to vacate for a period of time.”
Landlords will need to issue an N13 notice to their tenant along with a tenant information package created by the City. The landlord will also need to have a report from an architect or engineer that states that repairs or renovations to the unit are so extensive that vacant possession is required.
Within seven days of giving an N13 notice to a tenant, landlords must apply online for a Rental Unit Repair Licence and provide several pieces of information, including a copy of: the N13 notice; the lease; the tenant’s written notice about returning to the unit, if provided; the building permit issued by the City; and an affidavit about the delivery of the tenant information package. The licence costs $600 and applies to most rental units. A separate licence is required for each unit.
Ethan Ling, a policy analyst at City Hall, said the bylaw doesn’t require a landlord to produce documents that the RTA doesn’t, or won’t, already require when a tenancy is terminated using an N13 form.
He said the City recognizes that only a small number of landlords are terminating tenancies illegitimately.
“We hope that this acts as more of a disincentive to stop the bad faith ones (evictions) than it is a burden on those who are doing it properly and doing it correctly. We are hoping that the practice simply stops for those that weren't being done in good faith.”
Administrative monetary penalties for non-compliance range from $250 to $2,500. Multiple penalties can be applied to an individual situation and can be escalated where offences are ignored or repeated, according to www.london.ca.
Ling said the City began looking into improper evictions as a result of local reports indicating there had been an increase. The phenomenon was also rising in other municipalities in the province.
The City analyzed the renoviction bylaw being created by Hamilton. It then shared its draft bylaw with landlord and tenant organizations, including LPMA, and sought feedback from the public. Council then debated it.
“We tried to strike that balance of listening to the tenant organizations and trying to protect them from this happening and, at the same time, listening to the landlord organizations and really focusing on not adding an administrative burden as much as we possibly can,” Ling said.
Ley said LPMA members are concerned about the expense of the renovation work and the costs associated with the N13 process in addition to the City’s licence and building permit fees. She expects the timing could also put pressure on landlords as licences expire after six months and must be renewed if the work hasn’t been completed. The 120-day termination date in the N13 notice could be a further complication.
“I think, for landlords, that may potentially raise some timing issues,” Ley said.
To extend the six-month expiration, landlords need to submit a progress report to the City at least five business days before the current licence expires. They need to demonstrate that the renovations are progressing or indicate why there are delays. Ling said that input from LPMA made the City aware that most renovation work, apart from major projects, takes place in less than three months if it’s legitimate.
“We were hoping that the licence would act as a disincentive for people (landlords) to take too long on these things,” he added.
However, Ley said the timeline becomes more difficult if a tenant doesn’t willingly vacate in accordance with the N13 notice. Landlords will need to apply to the Landlord and Tenant Board for a hearing where the tenant may explain to the adjudicator why they need an extension to the termination date identified in the N13 notice. The delays in hearings at the Board, compounded by the potential expiry of the Rental Unit Repair Licence, could be problematic, Ley said.
There were concerns from LPMA with the bylaw during the public consultation stage because the City was considering requiring landlords to provide temporary housing and rent top-ups for tenants who had to be displaced as a result of the renovation and repair work, “things that are well beyond the scope of what is currently required by the province,” Ley said. That requirement has since been dropped.
Ling said that London’s low 2.9 per cent vacancy rate made the City decide against the temporary housing requirement. It would have been necessary to allow landlords to appeal the requirement because of the difficulty in finding an alternative unit for a displaced tenant. For example, if appeals were heard and exemptions granted because there was nowhere for displaced tenants to go, the licence would have been ineffective and the administration difficult
to carry out. Rent top-ups would have been impractical since the establishment of a fund would have been needed.
Council decided to get something in place for now, Ling said.
“Hopefully the licence will get rid of bad faith renovictions and therefore only legitimate ones (evictions) will be happening. Hopefully the legitimate use of the N13 will correspond with the compensation that's already required by the Residential Tenancies Act.”
Ley said the municipality is introducing regulations after the province’s Bill 97, the Helping Homebuyers, Protecting Tenants Act, failed to come into force. The legislative change pursuant to Bill 97 has additional protections for tenants to those already in the RTA. Those protections include a requirement that a landlord give an estimated length of time that tenants would need to be out of their unit for the repairs to be completed and for the landlord to provide updates to the timelines. Presumably after the need for additional protections were identified by the legislature, but not made law, the municipality felt pressure to introduce its own requirements to further protect renters in the city, Ley said.
Under the current provisions of the RTA, a tenant can move back into their rental unit after the repairs or renovations are complete; the rent must be the same as it was before the tenancy was terminated. Before they move out, the tenant must inform the landlord in writing of their intent to reoccupy the rental unit. The landlord can’t refuse to allow the tenant to move back if the tenant has provided written notice.
Critics maintain that landlords can compel longterm tenants paying a lower rent to vacate so they can rent out their units for a higher market rent. However, if a landlord doesn’t allow a tenant to return after a renovation or hasn’t complied with the steps outlined in the legislation, the Board can find that the landlord acted in bad faith.
Fines can be levied at up to $500,000 for corporations and $100,000 for individuals, including directors of corporations. An order could also be made to put displaced tenants back into possession of their units, although that will not be done if an innocent new tenant is in possession of the unit.
Under Bill 97, if landlords refused to allow tenants to return at the same rent, tenants would have two years from the date they vacated or six months after the renovations, whichever is longer, to seek a remedy from the Board, compared to the standard limitation period of one year.
Given the comprehensive nature of the RTA and what will become law under Bill 97, Ley believes London’s bylaw is unnecessary. There is also some question as to whether municipalities that bring in similar bylaws have jurisdiction. In addition, the bylaw could act as a deterrent for landlords to invest in their properties due to the additional costs and uncertainty involved.
“Residential rental housing is a highly regulated industry and the legislation is thorough and covers this kind of process exactly, including protections for tenants in exactly the situation where they receive an N13 notice when landlords need vacant possession of units in order to carry out extensive renovation and repair work,” she said.
It’s also unlikely that the bylaw would prevent unscrupulous landlords from skirting the security of tenure provisions that are in place under the RTA to illegally evict tenants to gain vacant possession of a property so they can sell it or re-let it at a higher rate.
Unfortunately, landlords who abuse the N13 process will continue to do so and may not issue the notice properly or may not advise tenants of when they can return, Ley noted.
London Property Management Association (LPMA) is a non-profit organization, located in London, Ontario, Canada, that provides information and education to landlords.
LPMA represents the interests of both large and small property owners. The association has more than 400 landlord members representing approximately 35,000 rental units. Membership is open to landlords and property management professionals who own or manage one or more residential rental units. Ph: 519-672-6999 Web: www.LPMA.ca
Sign up online or call Jenifer Fitzgerald.
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