Issuu

Canada’s #1 most widely read publication for Apartment Owners, Managers and Association Executives

Vol. 18 No. 5 July 2026

The official publication of:

Rental housing providers

partner with charities to expand affordable housing

INTERACTIVE ISSUE!

Mark Kenney The housing reset: Changes required to unlock supply over the next 18 months

Canada's rental affordability challenges are expanding the role of renter support services Panelists at the PM Springfest keynote session discussed rental housing supply and affordability.

Multifamily operational strategies are shifting with tenants' expectations.

Randy Daiter

Spring Economic Update 2026 focuses on affordability Beyond financing and institutional coordination, the government focuses on efforts to innovate and facilitate homebuilding.

Trusted advisors for every stage of your building’s lifecycle. Engineering that listens, leads, and lasts. Our specialists provide: ■ 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 Philip Sarvinis | Tim Van Zwol | Jeremy Horst | Michael Pond | Duncan Rowe | Jack Albert Beau Gaudreau | James Cooper | Nigel Parker | Paul Fritze | Sohrab Karkhel | Michael Park

rjc.ca

EDITOR’S NOTES Welcome to the digital age Welcome to the first digital-only issue of RHB Magazine. Don’t worry, we’re still publishing physical copies of our magazine. But this issue will be available online only. It will feature links to additional web resources, audio and video content tied to the content in the magazine, and much more. All the content is also based on a central theme: affordability in rental housing. The articles and association content are all connected by the common thread of making housing more affordable for Canadian renters. This issue features interviews with companies and rental housing executives involved in different programs and initiatives geared toward helping to increase the supply of affordable housing in Canada through private and non-profit partnerships. They include CAPREIT, which transfers existing rental housing stock to affordable housing organizations and the Reena Foundation, a charitable housing corporation. We also interviewed Randy Daiter, Vice President of Residential Properties with M&R Holdings, about his involvement with the charity. The second article summarizes the findings from discussions held during “The Housing Reset: Changes Required to Unlock Supply Over the Next 18 Months,” the keynote session at this year’s PM Springfest. Vanessa Topple, Anchor and Producer of RHBTV and BoldTV, moderated the session. Panelists included Tony Irwin, President and CEO of FRPO; Kristin Ley, Partner with Cohen Highley LLP; and Evan Pawliuk, Assistant VP of Commercial Financing for First National. Topics included addressing the supply problem, development charges, government collaboration and legislation, and what they hope to see in the future. Don't forget to read RHC’s newsletter, National Outlook, as well as the Regional Association Voice. FRPO discusses affordability issues in Ontario’s rental housing market, as well as federal and provincial partnerships in building more homes. Yardi Canada explains how Canada’s rental affordability challenges are expanding the role of renter support services. 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.

Enjoy the issue! David Gargaro Senior Editor

4 | Aug/Sept 2026

Publisher

Marc Côté marc@rentalhousingbusiness.ca

Editorial

David Gargaro david@rentalhousingbusiness.ca

Creative Director / Designer Scott Clark

National Director, Sales and Marketing

Melissa Valentini melissa@rentalhousingbusiness.ca

Office Manager Geeta Lokhram

Subscriptions

One year $49.99 Cdn Two years $79.99 Cdn Single copy sales $9.99 Cdn Opinions expressed in articles are those of the authors and do not necessarily reflect the views and opinions of the RHC Board or management. RHC 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 Produced in Canada All contents copyright © RHB Inc. Canadian Publications Mail Product Sales Agreement No. 42652516

FAST, FREE DELIVERY

SOLUTIONS FOR ALL YOUR PROPERTY NEEDS

*On most orders. Conditions apply.

HD Supply Offers Maintenance, Repair & Operations products and services. Everything you need. All in one place.

NATIONWIDE DELIVERY

Flexible delivery options, from next-day to scheduled drop-offs at your site.

BUDGET MANAGEMENT

Trade credit, job quotes & bulk pricing options available.

STREAMLINED PURCHASING

Save time and money with customizable e-Procurement solutions built for your business needs.

EXPERT CUSTOMER SERVICE

Whether it’s routine maintenance and repairs, property upgrades, or suite turn renovations, our dedicated team is committed to delivering a seamless experience every step of the way.

EXTENSIVE PRODUCT OFFERING

Thousands of products in stock every day, plus access to thousands more we can source on your behalf. Essential categories available, including: • • • • • • • •

Appliances Plumbing Tools Flooring Paint & Sundries Cleaning & Janitorial Grounds Maintenance Fire Safety

• • • • • • •

Hardware Electrical Cabinetry HVAC Lighting Personal Protective Equipment And MORE!

Plus, Exclusive Brands that deliver quality, style & value.

hdsupplysolutions.ca • 1.800.782.0557

CONTENTS

VOL.18 NO.5 2026

National Outlook

This issue covers the Spring Economic Update, federal affordable housing programs, the impact of the BoC's interest rate, and more.

RHB’s forum for rental housing associations to share news, events and industry information

Rental housing providers partner with charities to expand affordable housing Private and non-profit sectors collaborate to help make housing more affordable.

Hot Topics: EOLO discusses City of Ottawa housing benefits and the Affordable Housing Community Improvement Plan. pg. 49 RHPNS discusses affordability in Nova Scotia and removing the requirement of including affordable units in new housing developments. pg. 53 RHSK discusses the factors that contribute to making rental housing more affordable in Saskatchewan. pg. 57 LPMA discusses growing affordability concerns for renters in London, and an affordable housing option in tiny homes. pg. 61

The Member Associations

RHPNS

RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

RENTAL HOUSING PROVIDERS NOVA SCOTIA

RENTAL HOUSING PROVIDERS NS

47 RHPNS Advocacy | Education | Membership Services

Regional Association HomeNS Home Voice Home RentNS

RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

RHPNS Advocacy | Education | Membership Services

RentNS

RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

RentNS

no buildings

RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

no buildings

RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

RAV features the latest industry news from four member associations.

6 | Aug/Sept 2026

64 The housing reset: Changes required to unlock supply over the next 18 months Panelists at the PM Springfest keynote session discussed rental housing supply and affordability.

Final Take Away

Canada’s rental affordability challenges are expanding the role of renter support services Multifamily operational strategies are shifting with tenants' expectations.

Proven. Trusted. Unmatched for Over 65 Years. We're not just another contractor, we're the go-to experts in exterior construction for major municipal, industrial, commercial, and private projects. From groundbreaking to ﬁnishing touches, we deliver excellence without compromise. Because we're not just building structures — we're building legacies that last.

5845 Luke Road, Unit 204, Mississauga, ON. L4W 2K5 T. 905-670-7730 F. 905-670-7631 info@pacificpaving.ca pacificpaving.ca

PRESIDENT’S CORNER This issue of National Outlook provides an overview of the federal government’s Spring Economic Update. It also discusses ongoing affordable housing initiatives, the Bank of Canada’s interest rate decision, and the latest findings from CMHC’s 2025 Annual Report. The Spring Economic Update, released on April 28, focused on affordability and increasing housing supply. For the rental housing industry, two areas stand out: the government’s efforts to innovate homebuilding and facilitate homebuilding. The update recognizes that solving Canada’s housing challenges requires more than funding; it requires addressing the structural barriers that slow development, including construction productivity, regulatory delays, and the need for more efficient building methods. See pages 33-35 to learn more the content in the Spring Economic Update.

differences in housing conditions, and the role of housing finance programs in supporting new development. CMHC’s work supporting rental housing supply, research, and financing remains an important part of Canada’s housing system. See pages 38-40 to read more about the findings in the report. If you are not already a direct member of Rental Housing Canada, please consider joining RHC as a Direct Rental Housing Provider Member or a Suppliers Council Member. Visit www.rentalhousingcanada.ca or email admin@rentalhousingcanada.ca for more information. Listen to this article

The federal government has several programs designed to increase housing supply, support affordability, and preserve existing rental homes. Programs such as the National Housing Strategy, the Housing Accelerator Fund, the Apartment Construction Loan Program, and new initiatives such as Build Canada Homes demonstrate the scale of investment being directed toward housing. While these programs represent important steps forward, the success of these initiatives will depend on effective implementation and cooperation between all levels of government. See pages 35-37 for a review of these housing programs. The Bank of Canada’s decision to hold the overnight rate at 2.25% provides some stability for the housing market, but it does not resolve the affordability challenges facing Canadians. Stable borrowing costs may provide predictability for rental housing providers; however, high construction costs, labour shortages, and regulatory barriers continue to limit the ability to bring new rental supply to market. Increasing housing supply remains essential to improving affordability over the long term. See pages 37-38 for more analysis on the impact of interest rates on housing affordability. CMHC’s 2025 Annual Report highlights the continued demand for rental housing, regional

8 | Aug/Sept 2026

Tony Irwin President and CEO, RHC

One Partner. Every Project. From daily maintenance to unit renovations and capital projects, RONAPRO helps property management teams keep buildings running effectively. Everything you need to maintain and improve your properties — all in one place: Dedicated Pro Support

Reliable, On-Site Delivery

Specialized Project Support

Charge Account For Pros

Expert support in-store and on-site.

Special orders, construction take-off services, and estimating support are just a call away.

Manage authorized buyers with ease. Upon credit approval*.

*Upon credit approval. Certain conditions apply. For businesses only. In participating stores only. **Certain conditions apply.

Introducing

A new paint brand for pros Become a member today

**Certain conditions apply.

Get access to instant discounts** of 5% off your purchases and 10% off paint and paint products.

Partner with RONAPRO and simplify the way you source, manage, and complete your projects.

rona.ca/en/vippro-program

Learn more at rona.ca/en/pro

In this issue of... NATIONAL OUTLOOK RHC Member Associations 33. The federal government's Spring Economic Update recognizes that solving Canada’s housing challenges requires more than funding.

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

35. Federal housing strategies and programs are designed to address Canada’s affordable housing crisis.

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

37. The decision to hold the Bank of Canada benchmark interest rate at 2.25% signals stability, but not necessarily relief, for Canada’s housing system.

To subscribe to RHC’s e-Newsletter, please send your email address to admin@rentalhousingcanada.ca.

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

Rental Housing Canada (RHC) (formerly the Canadian Federation of Apartment Associations (CFAA))

P: 204-957-1224

is the leading national voice for Canada’s rental housing sector representing owners, managers and

Saskatchewan Landlord Association Inc. (SKLA) www.skla.ca P: 306-653-7149

builders of nearly one million residential rental units across Canada. RHC advocates for policies that enable our members to grow, invest, manage and build purpose built rental housing which provides quality rental homes for more than 10 million Canadians. For more information about RHC itself, see www.rentalhousingcanada.ca or telephone 613-235-0101.

10 | Aug/Sept 2026

Waterloo Regional Apartment Management Association (WRAMA) www.wrama.com P: 519-748-0703

More Uptime. More Revenue. Happier Residents. Coinamatic delivers fully managed laundry solutions that maximizes uptime, revenue, and resident satisfaction while removing operational burden. With no upfront cost leasing options, property managers can easily convert their shared laundry to a fully connected Coinamatic managed solution.

Maximize Performance ‫ ܣ‬Industry leading first-time fix rates ‫ ܣ‬Reliable uptime driven by proactive service

Elevate Resident Satisfaction ‫ ܣ‬Digital, convenient laundry experience ‫ ܣ‬Fewer complaints ‫ ܣ‬Faster issue resolution and refunds Simplify Operations ‫ ܣ‬Clear visibility through digital reporting ‫ ܣ‬Comprehensive service support ‫ ܣ‬Reduced workload for on-site teams Increase Revenue ‫ ܣ‬Optimized pricing and collections that capture more value ‫ ܣ‬Data driven insights that continuously improve performance

Laundry Amenities Made Easy coinamatic.com | 1-800-361-2646

n i s l a e D y Top Realter – 2025 v u o c n a V Rd y r a d n u 435 Bo ) s t i n u 8 1 1 0( 0 0 , 0 5 2 , 4 - $7 ve A n o t g n i l l 1820 Wi ) s t i n u 3 6 2 (5 1 2 , 5 7 1 , 7 6 -$ on s n i b o R 0 75 ) s t i n u 9 0 1 0( 0 0 , 0 0 0 , 0 - $6 St o l s a K 8 38 s) t i n u 2 9 ( 00 0 , 0 0 0 , 0 6 -$ ay n e t o o K 4 44 s) t i n u 4 9 ( 00 0 , 0 0 0 , 8 5 -$

1 2 3 4 5 source: 2

al Editio 25 Nation

12 | Aug/Sept 2026

n theAnn

ua l

MAINTENANCE • REPAIRS • OPERATIONS • RENOVATIONS

CANADIAN OWNED & OPERATED SINCE 1993

READY FOR WHAT THE SEASON BRINGS. ONE SUPPLIER FOR EVERYTHING YOUR BUILDING NEEDS.

As the seasons change, being prepared matters. H&S Building Supplies provides multi-residential properties with the products they need for maintenance, repairs, operations, renovations and seasonal preparation — all from one reliable supplier.

SEASONAL & PROPERTY PREP

ENTRANCES & COMMON AREAS

UNIT TURNOVER SUPPLIES

• Sealants & Weatherstripping • Seasonal Maintenance Supplies

• Entrance Mats • Mats for Every Application • Floor Protection & Safety

• Plumbing, Electrical, Paint, Flooring & Hardware • Kitchen & Bathroom Supplies

JANITORIAL & BUILDING CARE

• Cleaning Supplies • Paper Products & Dispensers • Cleaning Equipment & Floor Care

JANITORIAL • HARDWARE • BUILDING • FLOORING • PLUMBING • ELECTRICAL • HVAC • SAFETY • SEASONAL

LET’S GET YOUR PROPERTY READY. WE’RE HERE TO HELP.

1.800.207.8325

sales@hsbuild.com

hsbuild.com

Rental housing prov charities to expand Canada has an affordable housing crisis. This challenge has led to innovative partnerships between private rental housing providers and non-profit organizations. Many rental housing providers and individuals have partnered with charities and housing advocates to help deliver new forms of affordable and supportive housing. Examples include donating or selling aging properties to community housing groups, committing a percentage of new developments to affordable units, and building accessible homes for people with disabilities. These initiatives show how the private and non-profit sectors can collaborate to help make it possible for people to afford housing. This supplement explores programs and initiatives geared toward helping to increase the supply of affordable housing in Canada through private and non-profit partnerships.

CAPREIT: Transferring existing stock to affordable housing organizations Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) is Canada’s largest publicly traded provider of rental housing, owning approximately 45,400 residential apartment suites and townhomes across Canada and the Netherlands. The company has been selling some of its older properties to non-profit housing providers who commit to keeping the units in community and affordable housing portfolios, which helps preserve their long-term affordability. Some of CAPREIT’s dispositions include: • Two rental properties in Langley, BC with 108 residential suites, to New Vista Society, a local nonprofit that provides affordable housing to seniors and families • A 79-suite property in Burnaby, BC, to Catalyst Community Development Society, a BC-based notfor-profit real estate developer focused on affordable housing (funded by BC Rental Protection Fund) • 44 residential suites in Maple Ridge, BC to a local not-for-profit organization focused on affordable housing (funded by BC Rental Protection Fund) • Manufactured housing portfolio, consisting of 12,000 homesites in 74 communities across eight provinces, to TPG Real Estate Mark Kenney is President and CEO of CAPREIT. He spoke about CAPREIT’s approach to supporting the preservation of affordable rental housing stock.

14 | Aug/Sept 2026

viders partner with affordable housing By David Gargaro

Mark Kenney

Randy Daiter

Listen to this article

Watch this interview

rentalhousingbusiness.ca | 15

RHB: What led CAPREIT to decide to sell older

housing stock to affordable housing corporations?

Mark Kenney: We are determined to help meet Canada’s rental supply shortage and, concurrently, contribute in a meaningful way to meeting the challenges of housing affordability. We’re addressing the supply issue by adding to our portfolio through the acquisition of new rental units and the development of new, purpose-built rental communities. At the same time, we are supporting efforts to ensure the market remains affordable by pursuing opportunities to sell some of our aging communities to tenant-centric and community management firms. We believe that a strategy that encourages both new rental housing and supports an ownership/management model that better ensures affordability is good for CAPREIT, good for tenants, and good for the country.

RHB: How do you determine which properties are best suited for this purpose?

Mark Kenney: Our team is engaged in an ongoing review process across our national portfolio. Through this internal exercise we are evaluating opportunities to sell legacy rental communities, particularly if we believe that the involvement of affordable housing organizations can better deliver on the pursuit of affordability.

RHB: What impact have you seen so far from

transferring these properties into the affordable housing sector?

Mark Kenney: CAPREIT is proud to see that these properties, after a sale, are continuing to be managed in a tenant-centric manner with affordability preservation as a priority.

RHB: How do tenants and communities benefit from this strategy compared to traditional redevelopment?

Mark Kenney: By transferring legacy communities from CAPREIT to affordable housing organizations, the communities become better able to meet specific resident needs. The structure and purpose of community or non-profit based ownership/management teams, in this model, allows them to maintain affordability.

RHB: How can this model be scaled or adapted for other rental housing providers?

16 | Aug/Sept 2026

Mark Kenney: For this model to work effectively, and at scale, the federal government must commit to programs like the Canada Rental Protection Fund which provide community organizations and non-profits the opportunities to successfully acquire and manage rental communities that can be operated with a commitment to affordability.

RHB: What motivated your organization to get involved with affordable housing initiatives?

Mark Kenney: We are the rental housing leaders in Canada and so we are, better than most, familiar with both the issues around supply and affordability, particularly as they relate to Canada’s most at-risk renters. The strategy we are pursuing today provides an effective approach to addressing the shortage while offering a viable path, through a different ownership model, to effectively addressing issues of housing affordability.

RHB: How do these partnerships come about? Mark Kenney: CAPREIT is very active in the market and has been in discussions with various non-profit organizations around the country. When organizations receive funding, CAPREIT is known to be a willing participant as we have both the assets and the inclination to see these opportunities as a true “win-win”.

RHB: What are the main goals of your program, and how do you measure its success?

Mark Kenney: The main goal of our program is to unlock capital through the sale of select buildings (through vehicles like the Canada Rental Protection Fund), allowing us to use these resources to finance new market rental housing opportunities.

RHB: What challenges have you encountered

in developing or supporting affordable housing projects?

Mark Kenney: We are focused on the opportunities the program creates and not the challenges. That said, for the initiative to work and for it to deliver a public good, potential partners from non-profit space must be properly funded. We are motivated sellers, but the key will lie in finding financially stable non-profit partners.

RHB: How do you balance business objectives with the social goal of increasing affordable housing supply?

continued on page 20

Sidebar sponsored by

Charitable initiatives and the rental housing industry Spring HOPE Food Drive Every year, Ontario’s rental housing industry associations (e.g., FRPO, EOLO, HDAA, GTAA, LPMA), rental property owners and managers, and others partner with Food Banks Canada to support the Spring HOPE Food Drive, one of Canada’s largest door-to-door food drives. Food collection efforts involve nearly 1,000 multifamily properties and more than 1,000 volunteers, which has helped them to collect more than two million pounds of food over the last 20 years.

FRPO Since 2007, FRPO and its members have raised more than $1.1 million in support of Interval House, Canada’s first shelter for women and children escaping domestic abuse. The association has raised most of the funds through its Annual Charity Golf Classic. FRPO has also partnered with Interval House on specific initiatives, including Her Home Housing Project, a transitional housing and resettlement program through which members provide rent-geared-to-income apartments for residents re-entering the community, and the Opening Doors pilot program, a rental subsidy initiative that provides participants with access to private rental housing.

LPMA LPMA runs and participates in numerous charitable initiatives, including its Annual Charity Golf Tournament that supports local causes and a yearly food drive on behalf of the London Food Bank. The association also maintains referral partnerships with community support organizations, such as the Salvation Army Housing Stability Bank, which provides financial assistance to help people retain housing and prevent homelessness, and LUSO Community Services, which provides community services for local children, youth, and families.

Skyline Group of Companies The Skyline Group of Companies engages in various charitable initiatives that focus on social

18 | Aug/Sept 2026

sustainability, community building, mental health and wellness, and food security. It also established the R.I.S.E. Program, which provides resource assistance and financial relief to tenants facing personal hardships.

Minto Apartment REIT In January 2024, Minto Apartment REIT sold two residential properties to the Ottawa Community Housing Corporation. The deal preserved 311 affordable housing townhome units for use in community housing. Minto has also participated in other charitable initiatives, including Covenant Housing Sleep Out, which raises funds and awareness for homeless youth.

Boardwalk REIT Boardwalk REIT funds several charitable initiatives through its BWell program, which focuses on addressing housing and homelessness, marginalized groups, and mental and physical health. This includes its annual “Home for the Holidays” contest, which provides a family with one year of free rent in Calgary and Edmonton. Sam Kolias, co-founder and CEO, has also served on the board of the Calgary Homeless Foundation and on the committee for the RESOLVE Campaign, which has raised more than $100 million to build affordable housing for people experiencing homelessness.

Raising the Roof Canada Raising the Roof is a national charitable housing developer that helps to create and operate affordable housing. They purchase vacant or under-utilized properties that require renovation or construction to create sustainable, affordable housing for people who are homeless or at risk of become homeless. They also preserve affordable units to maintain the housing supply, provide training in the trades for people at risk of experiencing homelessness, and partner with local associations engaged in preventing homelessness.

continued from page 16

Mark Kenney: We are proud to prioritize “winwin” scenarios where we can meet our modest business objectives while delivering a public good and do not believe that the pursuit of business objectives and the goals of greater supply and greater affordability are mutually exclusive.

Reena Foundation: Supportive housing in the Greater Toronto Area Reena is a charity dedicated to supporting individuals with intellectual and developmental disabilities and mental illness serving the Greater Toronto Area. The Reena Group of Companies includes Batay Reena, a charitable housing corporation that is a leader in accessible design. In 2012, they completed their first Intentional Community residence, which was built to solve three issues: affordability (rent at ODSP rates), accessibility (based on Rick Hansen Foundation Gold Certification), and supportability (B3 Fire Code standards for care occupancy). Batay Reena is currently working on a 20-storey, 111-unit supportive housing project in Toronto. The development will house 138 individuals supported by five agencies, including Reena, a seniors’ agency, March of Dimes (physical disabilities), Safehaven (developmentally and physically complex conditions), and CHIRS (brain injury). The build has numerous accessibility features, such as wider hallways and doorways, and power operators wired to each unit (linked to backup generators). The building has a supportive housing framework. Its amenity resources and spaces accommodate social and life skills programs. Tenants pay for a coordinated support service that may include building programs, wake-up and medication reminders, and a quick response social work team that can develop a change of needs and support plan in 24 hours. This resource also works to build community engagement and paths to access local community resources so residents link in with broader community.

Brian Kreshen, CEO, Reena Foundation RHB: What key elements do you look for in such

collaborations to ensure housing is affordable and tailored to the needs of residents?

Brian Keshen: Reena works in collaboration with for-profit and non-profit entities seeking a common vision of service to the community.

20 | Aug/Sept 2026

While we recognize that for-profit businesses need to be mindful of shareholder and owner value, our partnerships are built on the confidence of 50 years of Reena growth and integrity, adding to our corporate partners’ reputation. For Reena, it brings knowledge and connections that support our prophetic objectives. As I say, we both are for-profit; we just spell it differently. The practical value of working with an agency like Reena for builders and developers is that our projects are valued by municipal leaders and often are advanced at a faster pace with greater support and density. The projects also receive benefits of waivers on fees, access to public lands, and access to contributions.

RHB: How has Reena’s vision of “intentional

communities” and specialized housing evolved in recent years?

Brian Keshen: Reena began developing the Intentional model to fill a gap in housing that met what we call the three abilities: accessibility, affordability, and supportability. Accessibility refers to buildings designed for a lifetime of living and universal access but also making sure at least 20 per cent of units are accessible. On the affordability side, having housing that ranges from one bedroom at around $600 to a maximum of 80 per cent of average market rent means that the most vulnerable and the working poor can be accommodated. The most significant design element from a supportability is meeting B3 fire standards. We also make sure the design accommodates for support staff with larger units and dedicated administrative spaces. As we develop and grow the model, we see many of these elements as universally valuable for those that need supports as they age. Our vision is to see a greater mix of populations and socioeconomic levels with services and supports that intentionally build sense of belonging for all.

RHB: What are your strategic priorities for

expanding affordable, accessible options for people with developmental disabilities and mental health challenges?

Brian Keshen: Reena founded a national entity “the Intentional Community Consortium” to support shared learning across this country and to advocate locally and nationally in support of housing that is inclusive and accessible for all but starting with the most vulnerable.

YOUR #1 CHOICE FOR COMMERCIAL LAUNDRY EQUIPMENT

Coinamatic Commercial Laundry offers a complete line of washer-extractors and tumblers as well as Ecotex laundry oxidation systems. Prevent the spread of bacteria and illness. Experience a revolution in laundry technology using ozone to cut laundry operational costs by up to 50%. Ecotex laundry oxidation systems enhance the performance of chemicals and shorten the traditional wash cycle. Using cold water instead of hot, a typical laundry facility can cut operational costs by up to 50% and significantly reduce the risk of MRSA and C-Difficile.

FULL TURNKEY SERVICE We handle delivery, installation, bolt down, final hook up and start up, and provide professional follow-up to ensure your ongoing satisfaction. EFFICIENCY A commercial laundry system provides extraordinary water extraction to minimize drying time, allowing you to keep operations running at full capacity, while saving utility costs, time and textile inventory.

TRAINING We work closely with your laundry and management staff, maintenance engineers and chemical companies to ensure that cycles, procedures and products provide optimal results, at the lowest possible cost. Extensive Parts Inventory available supported by a National Service Organization, multilingual call centre, and user friendly online service request portal.

LET COINAMATIC COMMERCIAL LAUNDRY DESIGN A SYSTEM THAT WILL FIT ALL YOUR LAUNDRY NEEDS. https://www.coinamatic.com/machine-sales/

1.877.755.5302 | marketing@coinamatic.com

RHB: The Frankfort Family Reena Residence

involves capital from federal, provincial, municipal, and philanthropic sources. What financial, operational or policy barriers pose the greatest risk to scaling other projects?

Brian Keshen: The greatest risk or limitation on expansion is affordability of land and the development process. Non-profits have low risk tolerance as the rewards for success are often breakeven budgets. In that context, risking capital on a project that falls through means not only not meeting new needs but cutting services to repay losses. The most effective models require a community of donors who support risk taking to advance the mission.

RHB: How do you ensure long-term affordability and service quality once projects are built?

Brian Keshen: The affordability is achieved through a lower mortgage structure and nonprofit operational models. One of the keys is to invest up front in the systems behind the walls and the quality of the space so tenants have pride of ownership and properties have lower operating costs. A simple example is to make sure all cabinetry and finishes are heat-resistant, so you do not need to replace a kitchen after a bedbug treatment.

Randy Daiter: Supporting the Reena Foundation Randy Daiter is Vice President, Residential Properties of M&R Holdings. His involvement with Reena is a personal choice and does not involve M&R Holdings directly.

RHB: What motivated you to get involved with the Reena Foundation?

Randy Daiter: I was motivated by a desire to make a difference for some of the most vulnerable members of our community. Having spent nearly four decades in real estate development, asset management, and property management, I saw an opportunity to bring that expertise to an organization that’s doing remarkable work for people with developmental disabilities and mental health challenges. Reena’s mission really resonated with me and I wanted to help create safe, comfortable, and well-managed housing that gives people dignity and a real sense of belonging.

22 | Aug/Sept 2026

RHB: How did the partnership with the Reena Foundation begin, and what does it involve?

Randy Daiter: The partnership originated from shared values and a common vision. I want to bring operational and property management expertise, while Reena brings unmatched knowledge of the community’s needs and decades of trust and credibility. Together, I’m hoping our collaboration involves developing, managing, and maintaining affordable housing projects that are both financially sustainable and well managed.

RHB: What role do you play in supporting

Reena’s work in affordable housing for people with disabilities?

Randy Daiter: My role is to share the experience I’ve gained over many years in the industry, helping Reena ensure their housing projects not only continue being built to a high standard but are also managed effectively for the long term. That includes advising on operations and development, bringing best practices from the private sector, and helping create strategies that balance efficiency with quality.

RHB: How has this collaboration improved housing access for vulnerable groups?

Randy Daiter: I’m hoping the collaboration enables us to continue delivering projects that truly prioritize safety, efficiency, and comfort.

RHB: What has been the impact so far on tenants and communities?

Randy Daiter: For tenants, the impact is profound: safe, accessible housing and a genuine sense of inclusion. For communities, these projects create intentional spaces where people of different abilities and backgrounds live side by side, which fosters a sense of belonging and a place they can call home.

RHB: How do you see your commitment to the program evolving?

Randy Daiter: I see this as a long-term commitment. The need for affordable, accessible housing is growing, and I want to continue leveraging my experience to help Reena expand its community model. My hope is that our relationship grows, helping Reena to continue setting examples of how nonprofits like Reena can continue making a real and permanent difference in people’s lives.

Watch this session

By David Gargaro

On April 23, RHBTV hosted the keynote session at PM Springfest 2026. The session was called “The Housing Reset: Changes Required to Unlock Supply Over the Next 18 Months.” The panelists discussed the policies, strategies, and actions needed to develop more rental housing supply and improve affordability across Canada. They also examined what’s broken, what’s possible, and what must be done over the next 18 months to reduce the costs to build more housing in less time. Vanessa Topple, Anchor and Producer of RHBTV and BoldTV, moderated the session. The panelists included: • Tony Irwin, President and CEO, Federation of Rental-Housing Providers of Ontario (FRPO)

24 | Aug/Sept 2026

• Kristin Ley, Partner, Cohen Highley LLP • Evan Pawliuk, Assistant Vice President, Commercial Financing, First National Financial LP

Protecting investments. Supporting communities. Egis helps housing providers extend asset life, optimize capital investments, and improve building performance through restoration, rehabilitation, and building science expertise.

Our services Building Restoration Capital Project Repairs Building Science Parking Garages Roofs, Windows, Walls, Balconies Project Management

Our offices Ontario

British Columbia

Alberta

Quebec

Scan this QR code to find out more about us www.egis-group.com follow us

Addressing the supply problem While Canada has an affordable housing supply issue, the challenges are not the same across the country. Large urban centres like Toronto and Vancouver are struggling to get projects started, while smaller markets (e.g., Halifax, Regina) have a lot of cranes on the ground. Understanding why there are differences in these markets often comes down to two key issues: time and money. How long does it take and how much does it cost? There are also universal issues, such as the political conflict with the U.S. and immigration, that are affecting both consumer confidence and investor confidence in real estate. “In looking at pro formas and determining whether projects can go forward, what’s the demand for the product, there are all kinds of things that go into the conversation around where to build, when to build, what to build,” said Irwin. “At the core, it still comes down to time and cost, and those are the things you’re trying to make sure the scale is balanced in the right way.” Policy is another factor that impacts the costs associated with real estate development. At present, government policies are generally conducive to new construction. CMHC has programs available to developers, such as ACLP, MLI Select, and CMHC Market. Lenders are also interested in financing rental construction. Costs have moderated over the last year, some within

26 | Aug/Sept 2026

25 to 30 per cent within major markets, although this is due in part to the lack of new supply being developed. Innovations have also helped to reduce construction costs and improve efficiency. “You look at precast concrete being utilized within southwestern Ontario; the entire formula works out well for new rental construction to start,” said Pawliuk. “But then you get to the demand side of the equation, which has tilted the feasibility not to be there for a lot of projects in the interim period. Generally, if you’re a long-term investor in real estate, you have the ability to look through the noise. Eventually you’ll get to a point where you can make good returns in this business." Legislation has added challenges for property owners who either want to get into or remain in the rental housing market. The Residential Tenancies Act limits what can be done with respect to offering rent. Pressures on above guideline rent increases are discouraging investments into existing rental stock, as it makes it more challenging to recover investments in upgrading aging properties. “And then there is the introduction of renoviction bylaws, which doubles or triples the cost for a landlord looking to put capital into their investment,” said Ley. “There are increased costs, increased time, and increased uncertainty from a legal standpoint.”

Trusted Appliance Supplier We provide reliable and fast on-site delivery for your tenants. From freestanding ranges to laundry centres, we've you covered!

Partnering with us: Major Brands: We carry GE, Frigidaire, Whirlpool, LG, and more.

Comprehensive furniture programs: For model suites and furnished units.

In-house Support: A dedicated order desk and service team.

National Fleet: Fast and efficient delivery.

Michael Gnat

416-635-4835 | mgnat@midnorthern.com 45 Red Maple Rd, Richmond Hill, ON www.midnorthern.com

Development charges and a changing environment Many developers and financiers are in a “wait and see” mode. They want to see where demand is going with respect to immigration and population growth. They want regulatory certainty to ensure the rules related to housing don’t change in the immediate future. Rental housing association members want to see the changes work through the system to understand what’s working, what’s not, and what might need to change. Developers are also looking for clarity on development charge waivers before putting shovels in the ground. Development charges significantly impact housing affordability, as they increase the cost to build, which requires property owners to increase rents down the road. The environment around development charges has changed dramatically. Several years ago, the federal government provided provinces with infrastructure funding, which they could access if both the provinces and municipalities froze development charges. At the time, there was no appetite for this approach. Now, many municipalities are freezing or reducing development charges for specific periods, which is helping to improve affordability. The federal government recently approved $8.8 billion for infrastructure. Municipalities will have to identify infrastructure projects (e.g., hospitals, schools) to move forward that will enable them to access those funds to support housing

28 | Aug/Sept 2026

development. However, this does not mean developers will get development charges waived automatically once their projects get approved. “We need to understand how it’s going to work,” said Irwin. “I think it’s good news. There are always people that want more, and we will continue to advocate for more. But with any government announcement, we need to understand the details. No one’s going to move forward until they know what those are and how their project will be impacted.”

Government collaboration and legislation Getting projects to move forward often requires some level of government support and collaboration. Different levels of government must support what each other are doing, which includes not imposing legislation that impedes another level. They can also help developers by allowing applications and approvals to pass through the system more efficiently, which will also make projects more affordable. Fortunately, the federal and provincial governments seem to recognize the industry’s recent challenges and the rising costs associated with building rental properties. “Governments are working toward making it easier for rental developers to go ahead with projects,” said Pawliuk. “We need the underlying economy to be supportive of that at the same time. We need to get investment into industry to get jobs in place for people to be able to pay rents that are needed to make projects work.”

Some of the government’s motivation to make these changes is tied to fear of a recession. There’s an understanding people are struggling financially, and there’s danger of significant job losses. If tradespeople leave to find work elsewhere, it will be difficult to recover those jobs and find experienced people when development resumes. That’s why the government is focusing on moving things in the right direction. There are also questions about whether interest rates will go up this year, which would affect housing affordability. “There are things we’re watching for because we know they will impact the degree to which they think they can invest,” said Irwin. “We are all holding onto our seats to see what happens over the next six months. Some of those underlying fundamentals will have to get better for all of us, but certainly for our industry too.” Governments have made positive moves by passing legislation that is more positive for landlords and developers. For example, Bill 60 has helped to remove some level of discretion from the Landlord and Tenant Board, imposing more defined criteria for decision-making. This leads to greater certainty in the space, which encourages investment. “I’ve seen some improvements in the appellate process before the courts,” said Ley. “When people are investing in this space, the rules of the game are becoming more certain and clear. From

my perspective, some of those changes are at least encouraging.”

Looking to the future What did the panelists want to see happen over the next 18 months to help improve housing supply and affordability? Pawliuk: “Stability in policy and stability in the economy allows people who want to make investments to make investments. A lot of rental developers are long-term holders. As long as they have clarity on what it’s going to look like in the medium to near term, they’re going to go ahead with the project.” Irwin: “We have to focus on what we can control and what’s in our environment and what’s in front of us as a country. We need to focus on the things we need to see for our industry to thrive and prosper and provide what is vitally important to millions of Canadians, which is quality rental housing.” Ley: “We need to see the continued timelines improve at the LTB because many of those holdups are tied to development projects that can’t move ahead. Rent control exemptions are always the number one thing that gets a lot of attention, and that’s not helpful for the industry and for people looking to develop.” To watch the full video of the keynote, please visit https://www.boldtv.ca/events.

let’s explore the possibilities engineering | architecture | design | consulting

45 + years of building science consulting experience Building Condition Assessment Due Diligence Assessment Reserve Fund Study + Capital Planning Water Leakage Investigation Building Envelope Restoration Roof Repairs + Replacements

Parking Garage Rehabilitation Waterproofing Repairs Building Envelope + Structural Testing Energy Audits + Decarbonization Studies Deep Energy + Decarbonization Retrofits Commissioning + Sustainability

t: +1.905.793.9800 ext. 62261 | e: building.science@exp.com | exp • com rentalhousingbusiness.ca | 29

Let’s talk about your property goals.

Delivering over 25 years of ﬁrst-class customer service. Client focused. Transparent. Built on integrity. Higher Income Maximize occupancy. Increase returns.

Protect Your Asset Proactive care. Long-term value.

Experienced Team Award winning leadership from a top Canadian ﬁrm.

TORONTO

905-763-8203

OTTAWA

613-521-1214

berkleypm.ca

Your Listings Deserve

Canada's Largest Rental Network

AUG/SEPT 2026 Listen to this article

Spring Economic Update 2026 focuses on affordability By Tony Irwin, President and CEO, RHC One of the key pillars of the Spring Economic Update, which was announced on April 28, is “making life more affordable for Canadians.” The terms “affordable” and “affordability” are mentioned more than 100 times in the document. The Spring Economic Update emphasizes increasing housing supply, with a focus on affordable and rental housing. Beyond financing and institutional coordination, two areas stand out for the rental housing industry: efforts to innovate homebuilding and facilitate homebuilding. Together, these measures aim to address structural inefficiencies that have long constrained housing delivery.

A core challenge identified in the update is Canada’s lagging construction productivity. To address this, the federal government is prioritizing innovation in how homes are built, moving away from traditional, labour-intensive methods toward more scalable approaches. Under the “innovate homebuilding” pillar, the government is supporting: • Factory-built and modular housing: Increased investment in prefabricated construction is intended to shorten build times, reduce labour requirements, and improve cost predictability. These methods allow components to be manufactured off-site and assembled quickly, which could be particularly beneficial for mid-rise and multi-unit rental projects. • Standardization and design efficiency: Encouraging repeatable designs and streamlined approvals for standardized building types aims to reduce soft costs and delays tied to bespoke development processes. • Adoption of new construction technologies: The update points to the use of digital tools, advanced materials, and modern construction techniques to improve productivity and lower per-unit costs over time. • Scaling domestic manufacturing capacity: By supporting a domestic supply chain for prefabricated housing components, the government aims to reduce reliance on imports and create a more resilient construction ecosystem. For rental housing providers, these innovations could help mitigate some of the cost volatility and labour shortages that have slowed project timelines, although widespread adoption will depend on regulatory alignment and market acceptance.

rentalhousingbusiness.ca | 33

NATIONAL OUTLOOK Complementing this is the “facilitate homebuilding” agenda, which focuses on removing barriers that delay or prevent new development. The update acknowledges that even financially viable projects often face significant friction at the municipal and regulatory level. Key measures under this pillar include: • Reducing regulatory barriers and streamlining approvals: Efforts to work with provinces and municipalities to simplify zoning, accelerate permitting, and reduce administrative delays are central to improving project timelines. • Leveraging federal lands for housing development: The government is advancing the use of surplus and underutilized public lands to support new housing projects, including affordable and purpose-built rental units. • Expanding financing tools and partnerships: Continued enhancements to federal loan programs and collaboration with institutional investors aim to unlock capital for large-scale developments. • Supporting “missing middle” housing: Policy adjustments, including mortgage insurance changes, are designed to encourage the development of small multi-unit properties such as triplexes and fourplexes, which can be delivered more quickly than large high-rise projects. •

I mproving coordination across levels of government: The update signals a stronger federal role in aligning housing objectives with provincial and municipal policies to reduce fragmentation in the development process.

These measures reflect a recognition that affordability is not solely a function of funding, but also of how efficiently housing can be approved and built. For the rental housing sector, the combined focus on innovation and facilitation has the potential to improve feasibility and accelerate supply, but only if implementation is consistent across jurisdictions. Overall, the federal strategy is shifting toward system-level change: modernizing construction practices while simultaneously clearing the path for development. If successful, these efforts could reshape the economics of rental housing delivery in Canada, helping to bring more units to market at a pace and cost that better aligns with growing demand. To read the whole document, visit https://www.budget.canada.ca/update-miseajour/2026/report-rapport/ pdf/update-miseajour2026-eng.pdf.

Federal affordable housing programs and initiatives Canada has an affordable housing shortage. It is not the result of a single policy failure nor the responsibility of one federal or provincial government agency. One program cannot solve the problems created by years of underfunding or underbuilding, population growth, construction costs, rising financing costs, or regulatory barriers to building faster. Every province and municipality has different issues and has contributed to the situation in different ways. Federal affordable housing initiatives can help to address these issues or create more problems. To follow are federal strategies and programs that are designed to address Canada’s affordable housing crisis. National Housing Strategy The National Housing Strategy (NHS) is the central federal framework that will guide all Canadian housing initiatives. Launched in 2017, this 10-year, $115+ billion plan is designed to address a range of housing needs, including homelessness, affordable construction and repairs, and rental housing assistance. Defined by the National Housing Strategy Act, it includes a range of complementary programs and initiatives that follow the principles of a human rights-based approach to housing. From the perspective of the rental housing industry, the NHS supports the development of new affordable housing and helps to preserve existing stock, which is key to maintaining the existing supply of rental housing.

rentalhousingbusiness.ca | 35

AUG/SEPT 2026 Canada’s Housing Plan On April 12, 2024, the federal government released its housing strategy entitled Solving the housing crisis: Canada’s Housing Plan. It builds upon the NHS and reflects that housing affordability is both a social issue and a supply issue. It focuses on three areas: 1. Building more homes by reducing construction costs, helping cities to build more homes, addressing the methods of building homes, and increasing the required workforce to build homes 2. Making it easier to own or rent a home 3. Reducing chronic homelessness, as well as building more affordable homes for students and seniors Housing Accelerator Fund The Housing Accelerator Fund provides municipal governments with incentive funding to encourage initiatives that increase the housing supply. This $4.4 billion initiative, administered by the Canada Mortgage and Housing Corporation (CMHC), provides incentives to speed up the development of new, affordable, and diverse housing. Its goal is to create more than 100,000 new homes by reducing bureaucracy, updating planning systems, and making communities more climate resistant. Municipalities must submit Action Plans to demonstrate how they will remove barriers to development (e.g., rezoning for higher density). Funding is split into two streams: large/urban and small/rural/North/Indigenous. Apartment Construction Loan Program The Apartment Construction Loan Program provides low-cost financing to multifamily development companies from construction through to stabilized operations. Loans range from $1 million up to 100 per cent of the cost of the residential component of a project. The program focuses on standard rental, seniors housing, and student housing projects where there is a need for rental housing supply. Up to $15 billion in new loans were proposed last year to create up to 30,000 new units. Affordable Housing Fund The Affordable Housing Fund (which was previously known as the National Housing Co-Investment Fund) provides low-interest and forgivable loans, as well as contributions, to help build or repair affordable, community, and social housing. Funding is available to partnered organizations that already have financial or other support from another level of government. Federal Lands Initiative The Federal Lands Initiative is a $318.9-million fund, managed by the CMHC, that is designed to support the transfer or leasing of surplus federal lands and buildings for the purpose of development or renovation into affordable housing. Properties are sold at a discount; the amount of discount depends on the level of social outcomes proposed. Once transferred or leased, the properties will be developed or renovated into affordable, sustainable, accessible, and socially inclusive housing. Rapid Housing Initiative The Rapid Housing Initiative, announced in Budget 2022, is a $1.5 billion strategy that focuses on addressing immediate housing needs. Its goal to create new units of permanent affordable housing for vulnerable people and populations under the NHS. The funding went toward building 4,500 new affordable units and was split between two streams: $1 billion for the Projects Stream and $500 million for the Cities Stream. Build Canada Homes Build Canada Homes is a new federal agency that has the goal of building affordable housing at scale. It will leverage public lands, provide flexible financial incentives, attract private capital, support large portfolio projects, and help modern manufacturers to build homes at scale. The federal government funded the agency with an initial $13 billion, with $1 billion going toward building transitional and supportive housing for people who are homeless or at risk of homelessness.

36 | Aug/Sept 2026

NATIONAL OUTLOOK Canada Rental Protection Fund The Canada Rental Protection Fund provides non-repayable contributions and low-interest loans to the community housing sector to purchase rental apartment buildings to preserve affordability of rents over the long term. It will also leverage federal funding to attract other sources of capital (e.g., private sector, philanthropic sector, other levels of government) to create a revolving source of funds for community housing providers to access. Canada Secondary Suite Loan Program The Canada Secondary Suite Loan Program provides homeowners with loans to go toward building secondary suites. The goal is to make it easier to convert existing spaces into rental apartments or build laneway and rental suites on their properties to increase density in their community. Homeowners can also use the funds to refinance their mortgages to cover the cost of adding the secondary suite.

Bank of Canada holds interest rate at 2.25% On July 15, the Bank of Canada (BoC) announced it would be holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The decision to hold the BoC benchmark interest rate at 2.25% signals stability, but not necessarily relief, for Canada’s housing system. While the move avoids further financial strain on borrowers, its impact on rental housing and affordability is more nuanced, reinforcing many of the pressures already shaping the market. At a basic level, holding the rate means borrowing costs remain unchanged. Mortgage rates, particularly variable-rate products, are tied to the BoC’s policy rate. Therefore, existing homeowners and investors will not face additional increases in debt servicing costs. However, this also means there is no immediate reduction in costs that could stimulate a surge in housing activity or significantly improve affordability. For the ownership market, the rate hold contributes to a “wait-and-see” environment. Economic uncertainty, driven by global instability and trade tensions, continues to weigh on buyer confidence, limiting demand even as rates remain relatively low compared to recent peaks. As a result, home sales and new development activity remain subdued, delaying any meaningful rebound in housing supply. This dynamic has direct implications for rental housing. With fewer households able or willing to enter the ownership market, demand for rental units remains elevated. A stable interest rate does little to shift this demand in the short term, meaning renters continue to face tight vacancy rates and upward pressure on rents. At the same time, slower homebuilding activity, partly due to lingering cost pressures and economic uncertainty, limits the addition of new rental supply. For rental housing providers, the rate hold offers a mixed outlook. On one hand, stable borrowing costs provide some predictability for financing and refinancing decisions, particularly for large multi-residential projects. On the other hand, rates at 2.25% are still high relative to the ultra-low levels seen earlier in the decade, meaning project viability remains constrained. Developers must still contend with elevated construction costs, labour shortages, and regulatory delays, all of which continue to suppress new supply. Affordability remains the central issue. While interest rates have come down significantly from their peak, housing affordability is not determined by rates alone. Prices, incomes, and broader economic conditions all play a role. In 2026, those factors continue to work against both renters and prospective buyers. Lower rates have not translated into a proportional recovery in housing demand, underscoring that affordability challenges are structural, not cyclical. The BoC’s decision also reflects a broader economic balancing act. Inflation, currently influenced by rising energy costs, remains slightly above target, while economic growth and housing activity are relatively weak. Holding the rate allows the BoC to support a fragile economy without reigniting inflation, but it also prolongs the current housing market conditions.

rentalhousingbusiness.ca | 37

AUG/SEPT 2026 In practical terms, the outcome is inertia. The housing market is neither overheating nor rebounding decisively. For renters, this means continued competition and limited affordability gains. For rental housing providers, it means operating in a stable but still constrained environment, where financing conditions are predictable but not yet conducive to rapid expansion. Ultimately, the rate hold reinforces a key reality: monetary policy alone cannot solve Canada’s housing affordability crisis. Without a significant increase in housing supply, particularly purpose-built rental, affordability pressures will persist, regardless of whether interest rates move up, down, or remain unchanged.

CMHC publishes 2025 Annual Report on housing conditions On May 6, CMHC published its 2025 Annual Report, which highlights their work, results, and the housing conditions experienced over the past year. Housing demand remained consistently strong in 2025, especially in large urban centres experiencing continuing demand for rental housing. Housing conditions varied regionally, ranging from tight supply and high costs to more balanced supply and demand. Across the country, the government focused on: • Increasing housing supply • Improving access to housing • Supporting the sustainability of long-term housing CMHC supported these efforts with housing finance solutions, federal housing programs, and housing research and data. Housing finance tools helped to support housing development and market stability. The results include supporting: • More than 261,000 multi-family rental homes • Approximately 64,000 homeowner units • 11,500 units under portfolio insurance programs Multi-unit housing represented a large percentage of new supply that received CMHC-linked financing. Last year, CMHC directed significant investments toward increasing rental housing supply, improving affordability, and strengthening housing programs. Funding included: • $29 billion to support more than 74,500 rental homes through the Apartment Construction Loan Program • $14 billion to create 57,000 homes and repair 174,000 community units through the Affordable Housing Fund • $3.1 billion to provide 131,000 loans for energy-efficient housing upgrades through the Canada Greener Homes Loan Program • $1.21 billion to create more than 2,700 co-operative homes through the Co-op Housing Development Program

38 | Aug/Sept 2026

BE YOUR OWN SUPERHERO Power your building. Protect your residents. Increase your value ! In today’s competitive market, building owners need superior environments that keep your residents safe, happy and connected. WIFIPLEX delivers turnkey WIFI; Internet WIFI Across the Property Cameras Smart Intercoms EV Chargers IP Phones High Quality TV Entertainment Smart Thermostats Door Locks Leak Detection Systems Discover today how WIFIPLEX can transform your buildings.

It’s not just WIFI — it’s WIFIPLEX. www.wifiplex.ca

AUG/SEPT 2026 CMHC also conducted research and data remained to help make planning and investment decisions across Canada’s housing system. Their analysis focused on: • Housing supply gaps in major cities • Affordability trends in different Canadian regions • Construction cost pressures • Long-term housing demand patterns CMHC’s financial performance supported the delivery of housing programs and financing tools. Highlights included: • 22% increase in total income before taxes • 33% increase in insurance revenue • 14% increase in investment income • 7% decrease in operating expenses Canada’s economy grew moderately in 2025, which affected affordability, construction activity, and borrowing conditions. Key economic indicators, 2024-2025 Indicator

2024

2025

GDP growth

2.0%

1.7%

Unemployment rate

6.4%

6.8%

Inflation rate

Higher trend

2.1%

Policy interest rate

Higher

2.25%

Collaboration between the federal, provincial, territorial, and municipal governments, as well as sector partners help to support progress across Canada’s housing system. CMHC worked with Housing, Infrastructure and Communities Canada and Build Canada Homes, as well as industry and community organizations, to increase housing supply across tenures, support affordability and accessibility, strengthen housing finance systems, and improve access to housing data and evidence. To read the full report, visit https://www.cmhc-schl.gc.ca/observer/2026/cmhc-2025-annual-reportadvancing-canadas-housing-system.

WANT TO STAY UP TO DATE WITH NATIONAL OUTLOOK? Sign-up for RHC’s National Outlook e-newsletter to receive up-to-date news on what is happening across Canada, as well as industry insights and insider information on RHC happenings. Email admin@rentalhousingcanada.ca to start receiving RHC’s e-Newsletter today!

40 | Aug/Sept 2026

CONTACT: OFFICE (TORONTO) 416-487-5256 BEN SAGRIFF 289-789-3044 EMILY HAGGARTY 647-449-6314

Our Services: Facade and Roofing Renewal Balcony Repair and Renewal

ENGINEERING RESTORATION

SERVICES

Our aim is to understand, design and enhance the built environment by building solutions at every opportunity.

Parking Garage Restoration Capital Planning Pre-Purchase Inspections Environmental Engineering Decarbonization Strategy and Implementation

rentalhousingbusiness.ca | 41

Yes, we can! 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-eight 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. We concentrate on revenue growth, controlling expenses, and strategic capital investment in your property to maximize your profitability over the long term — 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 Cell. 647.887.5676 k.m.shahnewaz@metcap.com

www.metcap.com

Listen to this article

President’s message: Affordability in Ontario’s rental housing market Rental housing affordability remains an important issue facing Ontarians, but the conversation is beginning to shift. After several years of intense pressure from population growth, higher borrowing costs, and constrained supply, Ontario’s rental housing market is showing signs of rebalancing in some areas, even as affordability remains out of reach for many households. From FRPO’s perspective, the path forward is clear: affordability depends on building more purpose-built rental housing, preserving existing rental housing stock, and creating the conditions that allow providers to keep investing in homes people can afford to rent. Across the province, renters continue to feel the effects of a long-standing supply gap. Demand for rental housing has been driven by young workers, families, new Canadians, students, and older Ontarians who need flexible housing options. However, new purpose-built rental construction has not kept pace with need. In the Greater Toronto Area and other highgrowth communities, the result has been sustained pressure on rents, limited vacancy, and difficult choices for households trying to stay close to work, school, and community services. Affordability challenges are especially acute for lower- and middle-income renters, who often have the fewest options and the least room to absorb rising housing costs. At the same time, Ontario’s rental housing market is not static. In some communities, higher vacancy rates, softer demand, and recent changes in population growth have begun to ease pressure at the margin. That does not mean the affordability challenge has been solved. It means the market is responding to new conditions, and policy needs to respond with it. A healthy rental system requires both affordability for tenants and financial viability for housing providers. When rent levels are forced below the cost of operating, maintaining, and financing buildings, the long-term result is deterioration, reduced reinvestment, and fewer new homes. That is why FRPO continues to emphasize a balanced housing strategy. Ontario needs policies that support new rental construction, streamlining of building approvals, reduction of unnecessary costs, and encouragement of reinvestment in existing buildings. Taxes, insurance, utilities, maintenance, and regulatory costs all affect what it takes to provide rental housing. If governments want more attainable rentals, they need to make it easier to build and preserve them. Incentives, predictable rules, and faster municipal processes can do more to improve affordability over time than short-term measures that discourage supply.

rentalhousingbusiness.ca | 43

Preservation is just as important as new construction. Ontario’s existing rental housing stock includes many older buildings that remain among the province’s most affordable homes. Keeping those units in service requires investment, repairs, and a policy environment that recognizes the cost of ownership and operation. Supporting the owners and operators who maintain this housing is not a side issue; it is central to affordability. Every unit preserved is one less unit that households must compete to replace in an already tight market. FRPO also supports targeted solutions that add supply efficiently. Secondary suites, gentle density, transit-oriented development, and partnerships with non-profit and private providers can all play a role in improving affordability. There is no single fix for Ontario’s housing challenge. But there is a practical direction: increase supply, protect existing homes, and align policy with the real economics of rental housing. That is how Ontario can move from a system defined by scarcity to one that offers more choice, stability, and opportunity for renters across the province. For Ontario to make meaningful progress on affordability, governments at every level need to focus on the fundamentals. That includes faster approvals, lower development barriers, and a more stable environment for long-term investment. It also means recognizing that rental housing is a business with real costs, not a public utility that can be planned without consequence. Policies that ignore those realities may sound helpful in the short term, but they often reduce supply and make affordability worse over time. A stronger rental housing system benefits everyone. Renters gain more choice and stability. Communities gain the housing needed to support local labour markets, schools, and services. And housing providers can continue doing what they do best: building, operating, and maintaining the homes Ontarians rely on every day. Ontario’s affordability challenge is serious, but it is not unsolvable. With the right policy framework, the province can expand supply, protect existing rental homes, and improve affordability in a way that lasts.

Tony Irwin, President and CEO, FRPO

Ontario and federal governments sign partnership to build homes, transit, and communities On March 30, the federal and Ontario governments announced that they had signed a major new agreement aimed at accelerating housing construction, expanding transit, and supporting economic growth. The Canada– Ontario Partnership to Build includes $8.8 billion in joint funding over the next decade. A central focus of the deal is increasing housing supply by funding infrastructure that enables faster development. Much of the investment will support municipalities that reduce development charges (DCs), which can significantly increase the cost of building new homes. By lowering these costs, the agreement aims to make housing more affordable and encourage new construction. The partnership also includes measures to stimulate homebuilding demand, such as a full rebate of the 13% Harmonized Sales Tax (HST) on eligible new homes valued up to $1 million. Beyond housing, the agreement prioritizes major transit investments, including the Waterfront

44 | Aug/Sept 2026

East Transit and GO network expansions. These initiatives are expected to unlock new communities, support tens of thousands of homes, and improve connectivity across the region. Overall, the partnership reflects a coordinated effort between federal, provincial, and municipal governments to address housing affordability, reduce barriers to development, and support longterm economic growth across Ontario.

Building Ontario Fund to provide more affordable rental properties across the GTA On March 10, High Art Capital, in partnership with the Building Ontario Fund, announced the launch of the GTA Rental and Affordable Housing Initiative. The goal is to address the excess condominium supply and the shortage of affordable rentals in the Greater Toronto Area. The fund, which is expected to be capitalized with at least $1.3 billion, will purchase newly completed, unsold condominium units across the GTA with the intent to convert them into long-term rental housing.

The program is expected to deliver about 2,200 rental units in the near term, including roughly 550 designated as affordable housing. These affordable units will be protected over the long term through legal agreements and priced at the lower of 25 per cent below market rent or 30 per cent of median household income in the region. The affordability component is intended to target working households whose incomes are too high to qualify for subsidized housing but are not sufficient to pay market rents. The partnership will identify not-for-profit partners to allocate the units to eligible tenants. The Building Ontario Fund will provide up to $300 million in mezzanine debt financing, as well as a normal equity investment. The project does not rely on development charge waivers, tax breaks or direct subsidies to meet its affordability goals. High Art Capital will purchase units through an open market call, focusing on buildings completed since 2023 in Toronto and the surrounding regions (Peel, York, Durham, and Halton). Established rental housing operators will handle leasing and property management.

FAO releases update on subsidized housing programs in Ontario On March 4, the Financial Accountability Office of Ontario (FAO) released a report that reviews the Government of Ontario’s subsidized housing programs. These programs, which involve partnerships with the federal government and municipalities, provide funding to low- and moderate-income households for homeownership assistance, the construction of below-market rent units, rent supplements, and rent-geared-toincome (RGI) assistance. According to the FAO report, total government spending on provincial subsidized housing programs will increase from $2.0 billion in 2024-25 to $2.2 billion in 2027-28. This is an average annual growth rate of 3.1 per cent, which is faster than the 2.2 per cent average annual growth rate recorded from 2004 to 2025. On an inflation-adjusted basis,

by 2027-28, total real spending on provincial subsidized housing programs will fall to 2004-2005 levels ($2.1 billion in 2025-26 constant dollars). Municipalities contribute most of the funding for provincial subsidized housing programs (56.8 per cent of total spending from 20042005 to 2024-2025); the federal and provincial governments contributed 29.9 per cent and 13.3 per cent, respectively. From 2004-2005 to 20212022, the municipalities’ share increased due to the expiration of legacy federal-provincial funding commitments. In 2021-2022, the federal and provincial governments have increased their share of funding increased, due to new federalprovincial spending under the National Housing Strategy (NHS). The FAO estimates 315,908 households were supported by provincial subsidized housing programs in 2024-2025, an increase from the 303,639 households supported in 2019-2020. This is due to increased support under NHS programs, offset by lower support under legacy housing programs. Going forward, the number of households supported by provincial subsidized housing programs will decrease to 314,822 households in 2027-2028. A household is defined as in in need of subsidized housing if the inhabitants do not live in acceptable housing (e.g., requires major repairs, insufficient number of bedrooms, cost exceeds 30 per cent of the before-tax income) and cannot afford alternative acceptable housing without subsidized housing support. Approximately 1,045,263 Ontario households (16.8 per cent of all households) required subsidized housing in 2024-2025; 315,908 households received support from provincial subsidized housing programs. Of that amount, 229,970 households received sufficient support to make housing affordable. In 2024-2025, FAO estimates that 815,293 households (13.1 per cent all households) required subsidized housing but did not receive support or received insufficient support to make housing affordable. To learn more, read the full report here.

Ontario’s leading advocate for strong and stable rental housing. 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

rentalhousingbusiness.ca | 45

Your Property, Properly Managed For over 35 years, we’ve helped discerning owners across Ontario maximize the value of their real estate through proactive management, strategic marketing and leasing, and clear, reliable financial reporting. We focus on strengthening tenant relationships, reducing vacancy, and protecting assets over the long term, because effective property management isn’t just about maintaining buildings, it’s about driving performance and creating value. Partner with a team that treats your investment like its own and delivers results you can see. Reach out today at 416-783-1600 or info@signetgroup.ca. Kris Boyce

Kris Boyce, CEO

signetgroup.ca

RHB’s forum for rental housing associations to share news, events and industry information

The Member Associations

RHPNS

RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

A RENTAL HOUSING PROVIDERS

RENTAL HOUSING

Quality products. Trusted experience. A Canadian family owned company, providing the highest quality products and services since 1965. Ventilation Systems Designers & Installers Laundry Room & Dryer Exhaust Solutions Garbage & Linen Chute Doors Compactor Machines & Sorting Systems Garbage, Recycling & Organic Bins Pressure Washing & Odour Control 24/7 Emergency Service 416-742-8242

We are your apartment building specialists.

227 Westcreek Drive Woodbridge, Ontario L4L 9T7

(905) 850-3500 Fax (905) 850-0573

www.yorkchutes.com

Listen to this article

Executive Director’s message EOLO is pleased to provide content for this special issue on rental housing affordability. We have participated in the formation of housing policy for the City of Ottawa since Mike Harris’ Ontario government downloaded the responsibility for public housing in the 1990s, and even more since the Canadian Federation of Apartment Associations (now known as Rental Housing Canada) promoted housing allowances in the National Housing Strategy (NHS) created ten years ago. The articles address: • Various housing benefit programs the City of Ottawa has adopted, largely due to the NHS and EOLO’s encouragement to the City

Jeremy Newman

• The Affordable Housing – Community Improvement Plan adopted by the City in 2024 to promote affordable units in new developments • The latest agreement between the City and Build Canada Homes, the new federal housing agency - John Dickie, EOLO Chair, and Jeremy Newman, EOLO Executive Director

City of Ottawa housing benefits Since the partial provincial download of public housing costs to municipalities in the 1990s, the bulk of City spending on housing for low-income people has been to support Ottawa Community Housing. With contributions from the federal and provincial governments, the City also pays much of the cost for the shelter system and pays for rent supplements. Over the last 10 years, in large part due to EOLO’s encouragement, the City has provided other financial support for tenants living in private market rental units. Rent supplements are attached to specific units and paid directly to the landlord. A rent supplement cannot be transferred if the tenant wishes to move to another unit. A housing allowance is a benefit paid either to the landlord or to a qualifying household. Households can choose to live in a rental unit anywhere in the city in a unit the tenant locates either with or without the help of City staff or Cityfunded agencies. Some housing allowances are administered by the City or the Province. Both rent supplements and housing allowances pay for part of the tenant’s rent. Both are renewed each year based on the tenant’s income and housing needs. The Canada Ontario Housing Benefit (COHB) serves people on the City’s Centralized Wait List,

provincial priority groups, or low-acuity homeless individuals or families. (Low acuity means people who have a low need for mental health or social service supports.) Recipients can move within Ontario. Over the last few years, with provincial approval, the City of Ottawa has created several housing allowance programs that it administers to serve different target groups: • Homes For Good benefits are paid directly to landlords; the program provides case work support for recipients, who can move within the city. • Families First benefits are paid either to landlords or to tenants; there are no social service supports through the program. • The Large Family Housing Allowance Pilot project provides for higher than standard benefits to accommodate families with more than five children. • The Enhanced Housing Allowance for Singles aims to find housing for people in emergency shelters who could soon pay for their own housing costs, to make space in the shelters. • A head lease program, provided by HousingWorks as an offshoot of Operation Come Home, takes homeless youth, provides scattered site private market rental units paying the entire rent directly to the landlord, and

rentalhousingbusiness.ca | 49

supports the youth (and the landlord) with regular site visits and a 24-hour hotline. The goal is to eliminate youth homelessness rapidly since that sector of the homeless population is a modest number; and studies show many older homeless people spent significant time in homelessness as young people. Besides assisting today’s young people, another goal is to break the cycle of homelessness. Apart from HousingWorks, the housing benefit programs are under threat from the risk of budget cutbacks from the governments of Canada and Ontario. With the renewed push to fund new housing construction, there is a desire to save money elsewhere in housing budgets. While that might be an achievable goal over the long term, EOLO is concerned that cutbacks (or even reduced growth) in housing benefit budgets could be devastating for people in need of support now, while they wait for new subsidized housing to be built. As has long been the case, housing benefits allow financial support to access existing housing. That is good for people who need the housing. It supports mixed income housing, and it is also good for the investors who supply the housing. Housing benefits are a win-win-win for low-income people, taxpayers, and rental suppliers.

Encouraging affordable units in new developments In 2024, the City of Ottawa approved the Affordable Housing Community Improvement Plan (AH-CIP). While CIPs are often limited to a specific geographic area, this one applies across the whole city. Its goal is to facilitate the development of affordable rental housing through financial support. That support is provided through a Tax Increment Equivalent Grant (TIEG) program. For any purpose, TIEGs use future tax gains generated by a new development to help finance the development through grants over time. The AH-CIP provides fixed grants of $6,000 to $8,000 per affordable unit per year for 20 years, which matches the length of the affordability commitment. To qualify, a minimum of 15 per cent of each unit type in the development must be kept affordable. Rental rates for the affordable units must be at or below the city-wide average market rent (AMR) for the unit type for the $6,000 per year grant (equal to $500 per month). For the $7,000 grant, the rent must be at or below 90 per cent of AMR; for the $8,000 grant, the rent must be at or below 80 per cent of AMR. At least five units must be made affordable across the whole development. There is no minimum on the size of the development, but developments smaller than 34 units would include more than 15 per cent of the units as affordable. The total AH-CIP grant is not to exceed 50 per cent of the increase in property taxes for the development. However, the AH-CIP grant can be stacked with programs and funding from other levels of government or other City of Ottawa CIP programs. Tenants for units at or below 80 per cent of AMR must be selected from a Cityrun below-market rent wait list. Tenants for units between 81 per cent and 100 per cent of AMR can be selected by the developer from applicants who respond to advertisements, but the household income must meet the City’s maximum income thresholds when they rent. As with other program, a household’s income can increase in the future while they keep the benefit of the below-market rent. If a unit turns over, the developer can select a new tenant subject to the same constraints. For projects where the total grant is under $2 million, City staff can enter into the agreement. For larger grants, City Council must approve.

50 | Aug/Sept 2026

An initial six or seven projects were approved in 2024 for two of Ottawa’s largest for-profit developers. As well as the financial assistance of particular value in the early years of new projects, the program was presumably something of a hedge to ensure a portion of the projects’ units would be rented without any doubt whatever happened to the rental market.

are accessible to very low-income households, including tenants for whom even discounted market rents remain out of reach. That level of affordability is typically only achievable with significant cross-subsidies, rent supplements or other subsidies to households. Deeply affordable housing is not viable under normal development economics.

The program is to be open under the terms described above until the end of 2026, when City staff will report on the results for a review by City Council.

The plan also reflects the now-familiar policy emphasis on mixed-income housing. The public rationale is straightforward: mixed-income communities are said to improve social outcomes, reduce concentrations of poverty, and support the economy by allowing workers to live closer to where they work. Those arguments are politically attractive.

Build Canada Homes and the City of Ottawa target affordability The City of Ottawa has just approved an agreement with Build Canada Homes that will see over $400 million, as well as surplus federal land, go into affordable housing in Ottawa. The plan is to expand the rental supply while achieving a deeper level of affordability than the market would typically support. Build Canada Homes is a federal agency launched in September 2025 to increase housing supply by partnering with other levels of government to advance housing development. The proposal, negotiated by City staff and approved by Ottawa City Council on April 22, 2026, is to support the delivery of 3,000 rental homes, including market, affordable, and supportive units. The centrepiece is the proposed redevelopment of surplus federal lands for 2,000 homes. The targeted unit mix is 1,200 market units and 800 affordable units for moderate-income households and below, including 200 deeply affordable units intended for the lowest-income households. The City is also to receive $150 million to support at least 1,000 homes through shovel-ready projects already in its Affordable Housing Pipeline. The plan illustrates the difference between ordinary affordability and deep affordability. Affordable housing, in the usual policy sense, means rents below prevailing market levels. Deep affordability goes further. It refers to rents that

The concept deserves a measured reading. In practice, households often sort themselves by income, life stage, household type, and lifestyle preference. Families with children, seniors, higher-income households, and lower-income households often seek out communities where the surrounding housing stock, amenities, and social environment align with their needs and expectations. This suggests that mixed-income housing should be treated as one viable model rather than as an unquestioned policy good in every case. Build Canada Homes is to contribute federal lands for the 2,000-unit redevelopment and provide funding toward pipeline projects. The land is worth hundreds of millions of dollars. The City’s contribution includes waived fees and charges, an expedited approval and permitting approach, and property tax exemptions for the affordable homes built on federal lands. The City values its contribution at $200 million to $245 million. Taken together, that is a very substantial public intervention package, and it reinforces a basic industry reality: affordable housing at meaningful scale is usually produced through some combination of land contributions, development cost relief, faster approvals, favourable tax treatment, and ongoing subsidies.

BECOME AN EOLO MEMBER NOW! EOLO invites Ottawa area landlords to join the organization. Have your interests and concerns heard, and benefit from EOLO’s support. As an EOLO member, you will be able to: • Receive prompt emails of relevant City rule changes •

Attend two networking receptions a year

•

Attend two free education events a year

•

Receive all 6 annual issues of RHB Magazine with current developments, City and provincial funding programs, and landlord-tenant laws.

To apply for membership, go to www.eolo.ca, download the membership application form and send it to us at the contact info on that website.

rentalhousingbusiness.ca | 51

52 | Aug/Sept 2026

Listen to this article

RHPNS

RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

EXECUTIVE DIRECTOR’S MESSAGE

RENTAL HOUSING PROVIDERS NS

RENTAL HOUSING PROVIDERS NOVA SCOTIA

RHPNS Advocacy | Education | Membership Services

Affordability in transition – Rebalancing Nova Scotia’s rental housing market

RHPNS Advocacy | Education | Membership Ser

Rent

RentN

NS Affordability continues to define the housing conversation across Nova Scotia. Over the past several years, rising costs, limited E supply, and strong population growth placed sustained pressure no buildings NS on renters and housing providers alike. Today, that environment Kevin Russell, is beginning to shift. While affordability challenges remain, F Executive Director, emerging changes in vacancy, supply, and policy response are starting to reshape the rental housing landscape. This article NS examines what has been done, what is changing, and what it means for housing providers and renters across the province. RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

RENTAL HOUSING PROVIDERS NOVA

Advocacy | Education | Membership Servi

Rent

RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

Home

RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

no buildings

- Kevin Russell, Executive Director

HomeN

RENTAL HOUSING PROVIDERS NOVA

Advocacy | Education | Membership Servic

HomeNS

RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

Affordability in Nova Scotia: A market in transition Affordability remains the defining issue in Nova Scotia’s housing system, but the conditions shaping that challenge are evolving. In Halifax Regional Municipality (HRM) and across the province, the past year has marked a transition from a period of acute supply-demand imbalance toward a more moderated and gradually rebalancing market. This shift is being driven by a combination of increased government intervention, changing demand patterns, and a growing pipeline of new rental supply. Over the past two years, the Government of Nova Scotia has taken a more active role in addressing affordability through direct investment, program expansion, and partnerships. Funding has been directed toward affordable and deeply affordable housing, support for non-profit housing providers, rent supplement programs, and the acquisition of existing rental properties. Organizations such as the Affordable Housing Association of Nova Scotia (AHANS) and the Housing Trust of Nova Scotia have been central to these efforts, particularly in advancing projects and preserving existing housing stock. Private and mission-driven developers, including Rooted Developments, have also contributed by advancing projects designed to maintain long-term affordability.

At the municipal level, HRM continues to operate within defined fiscal and legislative constraints. While municipalities lack the capacity to directly fund large-scale housing programs, they play an important role in shaping development conditions. Measures such as targeted property tax adjustments, development incentives, planning reforms, and efforts to streamline approvals all influence the viability and timing of new rental housing projects. In a high-cost environment, these tools can have a meaningful impact on whether projects proceed. After several years of intense demand, market conditions are beginning to shift. Federal policy changes affecting international student permits and work pathways—introduced by the Government of Canada—have reduced international student inflows, easing demand in certain segments of the rental market. This change is most evident in smaller and student-oriented units, where turnover and availability have begun to increase. At the same time, vacancy rates are rising. According to the Canada Mortgage and Housing Corporation (CMHC), Nova Scotia’s vacancy rate is estimated at 2.8%. Feedback from RHPNS members suggests that in parts of the market, effective vacancy may be closer to 3.0% to

rentalhousingbusiness.ca | 53

3.2%. While still below levels associated with a fully balanced market, this increase represents a meaningful shift. Units are remaining on the market longer, leasing timelines have extended, and operators are increasingly using incentives to attract tenants. In some cases, rents in existing buildings have stabilized or modestly declined. Looking ahead, this trend is expected to continue. CMHC estimates that approximately 13,000 new purpose-built rental units currently under construction across the province will come to market over the next three years. As this new supply is delivered, vacancy rates are expected to increase further, contributing to a more competitive rental environment and improved availability for tenants. Efforts to address affordability are increasingly focused on both expanding and preserving the housing stock. While new construction remains essential, preservation strategies are gaining importance. A recent example is the work of Rooted Developments, which—with support from the Government of Nova Scotia—acquired a portfolio of six rental properties totaling nearly 200 units in Dartmouth and Truro. Backed by approximately $6.8 million in provincial funding, the acquisition ensures these units will remain affordable for at least 30 years. This type of investment reflects a growing shift toward protecting existing rental supply as a practical and immediate affordability strategy. Despite these positive developments, the underlying economics of rental housing remain challenging. Housing providers continue to face sustained increases in property taxes, utilities and energy costs, insurance premiums, and maintenance and capital repair expenses. At the same time, construction costs remain elevated, limiting the feasibility of new development, particularly for affordable housing projects. These cost pressures continue to influence rents, reinvestment decisions, and the pace at which new supply can be delivered. Addressing affordability will require continued coordination across all levels of government and the housing sector. Sustained provincial investment, efficient municipal processes, a strengthened non-profit housing sector, and a viable private development environment will all be necessary to maintain progress. At the same time, preserving existing affordable housing must remain a central focus alongside new construction. There are, however, clear signs of progress. Increased funding commitments, stronger collaboration across sectors, successful preservation initiatives, rising vacancy rates, and stabilizing rents all point to a market that is beginning to rebalance. While affordability challenges are far from resolved, the most acute pressures appear to be easing. Nova Scotia’s housing system remains under strain, but it is evolving. The combination of policy action, increased supply, and shifting demand is beginning to improve availability and moderate rent growth. Maintaining this momentum will be critical to ensuring that housing remains both accessible for tenants and financially viable for providers over the long term.

Halifax drops policy on new housing developments requiring affordable units On April 15, Halifax City council voted against a proposed policy that would have required developers to include affordable housing units in new residential projects. This decision marks a clear shift in how the City plans to deal with its housing crisis. The policy, which was commonly referred to as inclusionary zoning, would have required a portion of units in new developments to be offered at below-market rates. However, municipal leaders have decided not to proceed with the policy, citing concerns that the timing is not right given costs and current market conditions.

54 | Aug/Sept 2026

A staff report indicated that high construction costs and tight development margins were key factors involved in making the decision. Requiring developers to include affordable units in new projects could make them financially unviable, especially higher-density buildings that would also be facing higher construction and related costs. City officials and other stakeholders stated that imposing the affordable unit requirement could slow the pace of new housing construction. This would worsen supply shortages rather than help to alleviate them. Increasing costs for developers would potentially reduce the number of projects moving forward or increase prices for market-rate units. The decision reflects a broader tension in housing policy, where there is a need to balance affordability with the need to maintain new supply. Inclusionary zoning is intended to create mixed-income communities and expand access to affordable housing. However, it can also impose indirect costs on development, which would discourage building activity. Although City officials voted to drop the requirement, the City remains committed to addressing affordability through other means. Options may include incentive-based approaches, partnerships or programs that support affordable housing construction without making it mandatory within every new development. The decision has sparked debate between housing advocates and residents. People who were in support of the policy argue that affordable housing will remain limited if the City does not impose requirements to include more affordable units, especially in rapidly growing urban areas. On the other side, proponents state that easing constraints on developers would help to increase overall housing supply, which could lead to lower housing prices.

Halifax drops inclusionary zoning plan for affordable housing The Halifax Regional Municipality (HRM) has decided to abandon a proposed policy that would have required developers to include affordable housing units in new residential projects, marking a notable shift in its approach to addressing housing affordability. The plan, often referred to as inclusionary zoning, aimed to mandate that a percentage of units in new developments be offered at belowmarket rents. However, municipal officials ultimately concluded that the policy could hinder new construction rather than accelerate it. Concerns were raised that imposing affordability requirements would increase development costs, reduce project viability, and slow the pace of housing supply at a time when the region is experiencing rapid population growth and a tight rental market. Instead, Halifax will continue to rely on alternative tools to support affordability, including incentive-based programs, density bonuses, and partnerships with other levels of government. City staff indicated that encouraging overall housing supply, particularly purpose-built rental, may be a more effective way to stabilize rents over time. The decision has drawn criticism from housing advocates, who argue that without firm requirements, developers are unlikely to deliver affordable units at the scale needed. Critics warn that relying solely on market-driven supply risks deepening affordability challenges, particularly for lower-income households. The debate highlights a broader tension seen across Canadian cities: balancing the need to incentivize development with the urgency of delivering housing that is accessible to a wider range of residents.

RHPNS is committed to being the Positive Voice of Landlords providing members Advocacy, Education and Membership Services Programs. RHPNS lobbies all levels of government and industry stakeholders to ensure a balanced and competitive rental market.

RHPNS

RHPNS believes there is strength in numbers, when RHPNS speaks on industry issues stakeholders listen.

RENTAL HOUSING PROVIDERS NOVA SCOTIA Advocacy | Education | Membership Services

168 Hobsons Lake Drive, Suite 301, Halifax, Nova Scotia, B3S 0G4 Executive Director: Kevin Russell, Email: kevin@rhpns.ca T: 902-425-3572

A RENTAL HOUSING PROVIDERS NOVA SCOTIA

RHPNS Advocacy | Education | Membership Services

RENTAL HOUSING PROVIDERS N

RHPNS Advocacy | Education | Membership

rentalhousingbusiness.ca | 55 C

O n O e O ne Vo ne M ic M es e, ag sa az ge in , e! k in Th

The official publication of:

b ng

e. su is xt ne e th in y! s is da e m to ll ri b u’ ne sc i yo az ub /s ag ca s.

u ho

t ha

al nt

Vol. 18 No. 5 July 2026

t ou ab

Canada’s #1 most widely read publication for Apartment Owners, Managers and Association Executives

Rental housing providers

partner with charities to expand affordable housing

Listen to this article

Why Saskatchewan remains Canada’s most affordable place to rent, live, and raise a family Across the country, housing affordability has become one of the most important issues shaping where people choose to live, work, and raise a family. In this national conversation, Saskatchewan offers a hopeful and increasingly relevant example of how a balanced rental housing system can support affordability, stability, and long-term community wellbeing. Saskatchewan’s rental market does not rely on a single policy or short-term measure. Instead, its strength comes from a combination of steady housing supply, manageable demand, and local conditions that support both renters and housing providers. While no housing system is immune to cost pressures, Saskatchewan continues to demonstrate that affordability can be sustained when the fundamentals are allowed to work together. For renters, families, and new residents, this translates into something increasingly rare in many parts of Canada. Choice. Predictability. And the opportunity to build a stable life.

Affordability rooted in availability A defining feature of Saskatchewan’s rental market is that housing supply has continued to grow in step with demand. Through 2025 and into 2026, new purpose-built rental homes have come online across the province, particularly in Saskatoon and Regina. This steady development activity has ensured that the rental system remains responsive rather than reactive. Vacancy rates in Saskatchewan’s largest urban centres now sit in a healthy range that supports market balance. When vacancy is present, renters have options and housing providers compete on quality, service, and value. This creates an environment where rent growth remains measured and where affordability is protected naturally rather than through crisis response. While average rents have risen over the past several years, Saskatchewan remains among the most attainable rental markets in the country. Two-bedroom apartment rents in Regina and Saskatoon continue to be lower than those found

in many large and mid-size Canadian cities. Equally important, recent rent increases have slowed, particularly for new leases, signalling a market that is finding equilibrium.

Landon Field, CEO

This balance benefits everyone. Renters enjoy flexibility and choice, while housing providers operate in a more stable environment that supports long-term planning and investment.

A rental market that fits family life Housing affordability is about more than monthly rent. It is about whether people can build and sustain a life in the places they choose to live. Saskatchewan continues to offer an environment where renting supports family life rather than limiting it. Compared to many high-cost regions, renters in Saskatchewan are more likely to access larger units, practical layouts, and homes suited to growing households. Ground-oriented rentals, family-suitable buildings, and established residential neighbourhoods remain part of the rental landscape. Cost of living factors further strengthen this advantage. Lower transportation costs, shorter commuting times, and comparatively accessible childcare and daily services all contribute to household affordability. Together, these elements reduce financial pressure and create room for families to make choices based on lifestyle and opportunity rather than housing constraints. Strong labour market fundamentals support this quality of life. Saskatchewan has continued to see positive wage growth driven by investment in natural resources, public infrastructure, health care, education, and professional services. For renters, this means housing costs remain more closely aligned with earnings, supporting longterm affordability and stability.

rentalhousingbusiness.ca | 57

Local housing that serves local communities One of Saskatchewan’s strengths is the way housing growth is integrated into existing communities. New development has occurred alongside long-established neighbourhoods, ensuring that rental housing remains connected to schools, services, and employment. This approach supports social cohesion and strengthens community life. Renters can stay close to where they work, volunteer, and raise families. Schools benefit from stable enrollment. Employers benefit from a workforce that can afford to live nearby. Communities benefit from continuity and diversity. Housing providers also benefit from this model. A stable rental environment with consistent demand supports reinvestment in housing quality, building maintenance, and resident experience. Rather than focusing on short-term pressure, the emphasis remains on long-term sustainability.

Secondary suites and housing that grow from within A particularly successful element of Saskatchewan’s affordability story is the Secondary Suite Incentive Grant Program. This program demonstrates how small-scale solutions can deliver meaningful results. By supporting homeowners who add basement or garden suites, Saskatchewan is expanding rental supply efficiently and thoughtfully. These suites bring lower-cost rental homes to market more quickly, using existing housing stock and established infrastructure. They provide new opportunities for renters while strengthening neighbourhoods that already function well. Secondary suites are often located near schools, transit routes, and local services. For renters, including families and individuals in early or transitional stages of life, this creates access to welcoming communities at attainable rent levels. For homeowners, rental income helps offset rising household costs while contributing to housing availability. From a community planning perspective, secondary suites represent a positive form of gentle density. They increase housing supply without dramatically changing neighbourhood character or placing new demands on municipal infrastructure. This allows Saskatchewan communities to grow gradually and sustainably. The program also highlights the value of partnership between government, homeowners, and the rental sector. By aligning incentives with local needs, Saskatchewan has created a practical tool that supports affordability while strengthening the overall housing system.

A model of stability and confidence Saskatchewan’s rental market is characterized by confidence. Housing providers continue to invest. Renters continue to find options. Communities continue to grow. This stability matters. Rental housing works best when it supports mobility without forcing disruption. In Saskatchewan, renters can move within their communities, adjust their housing as family needs change, and make long-term plans with confidence. Rather than viewing renting as temporary or uncertain, many households are choosing it as a viable long-term option.

58 | Aug/Sept 2026

This environment benefits housing providers as well. Stable demand, moderate rent growth, and predictable market conditions encourage reinvestment in properties, better maintenance outcomes, and a focus on resident experience. When the system is not under extreme pressure, everyone can make thoughtful, long-term decisions that strengthen the rental sector.

This does not mean challenges do not exist. Housing costs have increased everywhere, and Saskatchewan is no exception. However, the province has shown that affordability can be protected through thoughtful growth rather than scarcity. Renters retain options, communities remain connected, and housing continues to serve families, workers, students, and seniors alike.

Saskatchewan’s experience also reinforces an important lesson. Affordability does not require extreme swings or reactive policy. It is built gradually through supply, choice, and confidence in the market itself.

For people considering where to live, work, or raise a family, Saskatchewan offers something increasingly meaningful. A place where renting is not defined by stress or uncertainty, but by choice, stability, and opportunity. A place where communities grow with intention and housing supports daily life.

Looking forward with optimism As housing affordability continues to shape national conversations, Saskatchewan’s rental market offers an encouraging example of what is possible when fundamentals remain aligned. The province has demonstrated that steady supply growth, practical policy tools, and balanced demand can create an environment where renting supports opportunity and quality of life.

In a national housing landscape shaped by rapid change, Saskatchewan stands out for its steadiness. Its rental housing system highlights the value of balance, collaboration, and long-term thinking. As Canada continues to seek solutions that improve affordability and strengthen communities, Saskatchewan’s story is one of progress, optimism, and possibility.

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

rentalhousingbusiness.ca | 59

We Are Real Estate

Legends

rentalhousingbusiness.ca

Listen to this article

PRESIDENT’S MESSAGE LPMA: Connecting with community partners to find housing solutions This month’s special edition of RHB Magazine, with its focus on housing affordability, presents an opportunity to highlight how LPMA supports education, collaboration, and community involvement to help address housing affordability challenges. At our January members meeting, attendees learned about the work Tracy Norman of the Cross Cultural Learner Centre, which helps newcomers find affordable housing and integrate into the community. In February, Anthony Passarelli of the Canada Mortgage and Housing Corporation discussed current trends in Ontario’s rental market, such as higher vacancy rates and recent rent corrections. LPMA also connects members with community partners seeking housing solutions. When groups like Fanshawe College are searching for accommodations for families and international students, LPMA shares these inquiries with members. This outreach supports local housing initiatives and offers smaller landlords opportunities to forge links with prospective tenants, supported by Fanshawe’s Off-Campus Housing Coordinator. Best regards,

- Tracy Norman, President, LPMA

AFFORDABILITY CONCERNS CONTINUE TO DEEPEN FOR LONDON RENTERS: CMHC Rental housing in London is becoming more affordable due to an upswing in apartment construction, lower demand through immigration caps, and stabilizing rents, according to the most recent Rental Market Survey from the Canada Mortgage and Housing Corporation (CMHC). However, rents are still not affordable for the majority of tenants and not enough new units are being built. The survey, which targets the purpose-built rental market, indicates that the area’s four per cent vacancy rate, up from 2.9 per cent in 2024, has risen to its highest level in 15 years. As a result, rents are stabilizing or decreasing on turnover in the London Census Metropolitan Area, which includes the City of London and surrounding municipalities. Anthony Passarelli, lead economist (Southern Ontario) for CMHC, said many tenants who signed

Anthony Passarelli

a lease in 2024 upgraded to a nicer unit a year later for the same amount of rent because of increased housing options. But the majority of tenants occupying the same unit over time are staying put due to affordability concerns.

As of late 2025, the timeframe targeted by the survey, the average rent paid by new tenants on turnover was $1,596 for a one-bedroom unit, up 0.4 per cent, and $1,878 for a two-bedroom unit, down 2.2 per cent. This means that tenants needed to earn $63,840 to afford a one-bedroom apartment or $75,120 for a two-bedroom unit, assuming they put 30 per cent or less of their pre-tax income toward rent and utilities.

rentalhousingbusiness.ca | 61

“Rents are starting to stabilize, but it’s still an expensive market for someone looking for a new unit. There are a lot of renters out there who don’t have that income,” Passarelli said. He compares the current situation to two distinct markets. Higher-income renters have more choice because of London’s rental construction boom that benefits higher- and middleincome earners. But it isn’t addressing the needs of the lowest-income tenants. As of last fall, the vacancy rate was just 1.2 per cent in the least expensive 25 per cent of units. “It’s a very tight, very competitive market still,” Passarelli said. Even so, rent-geared-to-income housing is being built and older, less expensive units are becoming available when middle-income tenants move to apartments in new buildings. Passarelli said what the city needs is a greater supply of new units built by non-profit organizations for lower-income earners. “In the long term, the solution is more actual housing that meets their incomes.” Owners of older buildings are dealing with higher vacancies by focusing on retaining tenants and negotiating their next year’s rent. Landlords are also offering one or two months of free rent and free parking to fill vacant units. Demand for rental housing grew strongly until 2024 when the federal government capped its quota of temporary residents, including foreign workers and international students. Before 2024, the lack of student housing in London caused competition for units that affected renters in all markets, reducing the vacancy rate to a near-record low of 1.7 per cent in 2023, resulting in increased rents and affordability issues. Due to the cap, the vacancy rate in the neighbourhoods around Western University increased to 4.5 per cent in late 2025, compared to 1.4 per cent in 2021-2023. The vacancy rate near Fanshawe College was 5.7 per cent, up from 2.4 per cent in 2021-2023. “Things completely changed last year when the international student numbers came way down,” Passarelli said. “Vacancies were up, rents were not growing, and the impact was obvious.” More rental buildings are being constructed across the province due to incentives from all levels of government. Many municipalities are offering incentives such as vacant city-owned land to developers to build non-profit rental housing or housing that incorporates units with below-market rents, Passarelli said. London’s rental supply growth, particularly in the north and south ends, is among the strongest in the province and is expected to grow, the survey states. Between January and September 2025, 2,585 units were completed, surpassing 2024’s record. The rental market is also being affected by a slower economy. Younger adults in particular are continuing to live with their parents because of a weak job market for their age group and tariff concerns instead of moving into their first rental unit. And as fewer people purchase homes due to the cost, developers are focusing on constructing apartment buildings. Government incentives and financing options are encouraging that trend, Passarelli said. CMHC projects that vacancies will continue to rise and rents will decrease, aiding affordability. “We think house prices are going to continue to decrease this year. As prices continue to go down, more of the higher-income renters, if they’re thinking about buying, could qualify. You might see more people moving into homeownership who were renters, but generally they’re staying

62 | Aug/Sept 2026

renters for a long time and they’re not buying because it’s still quite expensive to get into home ownership even at an entry-level home,” Passarelli said.

HCS TINY HOMES: REDEFINING AFFORDABLE HOME OWNERSHIP By HCS Contracting ON Ltd. With cost-of-living issues affecting Canadians across the country, many buyers are searching for alternatives to traditional home ownership. HCS Contracting ON Ltd. believes tiny homes are a practical and affordable option. The Cambridge-based company, founded by brothers Paul and Ken Hogan in 2009, has added tiny homes to its portfolio of custom homes, multiresidential renovations, and commercial building projects. HCS operates out of six offices in Ontario and Quebec. One of the biggest misconceptions is that tiny homes are temporary structures or recreational cabins. HCS’s tiny homes are constructed using the same professional building methods and materials found in traditional houses. Each home is carefully framed, insulated, and finished to perform in Canadian climates. Like conventional houses, HCS’s tiny homes appreciate in value and are eligible for a mortgage. Affordability is one of the strongest drivers behind the growing interest in tiny houses. With significantly lower construction costs and reduced energy consumption, first-time buyers and retirees can own their own home with less financial pressure than a conventional home purchase. Many buyers are interested in adding a second detached dwelling to their property for use as a rental unit, in-law suite, or office. Bill 23, the More Homes Built Faster Act, allows second dwellings on most residential lots and removes minimum size restrictions set by municipalities. Tiny homes must

still comply with the Ontario Building Code, which requires a minimum size of 188 square feet. HCS currently offers three tiny home models that range in size from 188 to 1,100 square feet and in price from $30,000 to $175,000, allowing buyers to choose a design that fits their family and lifestyle needs. The models can be personalized to accommodate minor layout changes and expansions. The company will also work with buyers to create fully custom designs. Design plays a critical role in making tiny homes comfortable and functional. HCS maximizes every square foot and pairs sleek layouts with high ceilings and large windows, creating interiors that are bright and spacious. Modern finishes and efficient storage solutions are key elements that allow homeowners to enjoy the comfort of a larger home in a more efficient footprint. The company is also involved in the planning of a tiny-home community in Southwestern Ontario. A larger number of homes comprising twostorey layouts and multi-unit configurations will be brought together in a thoughtfully designed neighbourhood. The goal is to create communities that are sustainable for long-term living. At a time when Canada is facing a significant housing supply shortage, alternative housing options like tiny homes are becoming an increasingly important part of the solution. The mission is simple for HCS Contracting: build smaller homes without compromising quality, comfort or durability. By combining decades of construction experience with efficient design and modern building practices, HCS’s tiny homes are helping redefine what home ownership can look like for the next generation of Canadians. “Tiny homes aren’t about living smaller. They’re about building smarter and creating a realistic path to home ownership for more Canadians,” said Ken Hogan of HCS Contracting ON Ltd.

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.

rentalhousingbusiness.ca | 63

Final Take Away

Listen to this article

Brought to you by Yardi Canada Ltd

Canada’s rental affordability challenges are expanding the role of renter support services By Peter Altobelli, President, Yardi Canada Ltd.

Affordability is a significant issue in Canada’s rental housing market. However, the concerns go beyond monthly rent levels. Rising living costs, higher interest rates and economic uncertainty are changing how renters evaluate housing costs and how rental property owners approach resident services. Canada’s multifamily market is experiencing a period of slower rent growth and rising vacancy. Operational strategies are shifting with tenants’ expectations. Rental housing providers are focusing on retention, resident experience and service differentiation to be more competitive. This shift is driving the expansion of integrated renter support services. Yardi has expanded the RentCafe Renter Essentials platform through partnerships with APOLLO Insurance Solutions Ltd. (APOLLO Insurance) and Zenbase. The goal is to integrate tenant insurance and flexible rent payment solutions into the resident experience that address affordability, convenience and financial flexibility. Financial flexibility becomes part of affordability For many tenants, affordability challenges are directly related to cash flow and financial timing, not just the total rent. Inflation and higher costs for food, transportation and utilities are straining household budgets, especially for younger renters, newcomers and those living in large cities. Flexible payment platforms help residents better align rent payments with pay schedules and recurring expenses. Splitting monthly rent into smaller installments enables tenants to reduce short-term financial strain and better manage their household budget. Affordability is evolving into a larger conversation on financial flexibility and stability. Providing tenants with more payment options may help to reduce late payments, improve resident satisfaction and increase retention. With vacancies rising and new lease rent growth moderating, it is becoming more important to retain tenants. Insurance and resident protection move into focus Tenant insurance is affected by both affordability and resident services. Many renters are uninsured due to perceived cost barriers or the misconception that coverage isn’t necessary or difficult to obtain. Making insurance part of the leasing experience can help make it more accessible. For renters without coverage, an unexpected fire or flood can quickly create financial hardship. Tenant insurance provides financial security by covering temporary housing, meals and legal costs when renters need it most. Renters can purchase insurance during the leasing process, which helps rental property owners to improve compliance and reduce administrative issues. Today, there is greater emphasis on convenience and digital-first service delivery. Tenants expect and prefer to manage payments, insurance,

64 | Aug/Sept 2026

communication and resident services through one online system. Integrated platforms can also streamline workflows and centralize resident interactions for rental housing providers. The operational shift behind the market With multifamily housing providers focusing on improving operations, it makes sense to expand renter support services. In the past, strong demand and limited supply enabled rental housing operators to rely on rent growth to drive performance. However, due to moderating rent growth, rising vacancy and increasingly pricesensitive renters, there is now greater emphasis on resident retention and operational execution. Rental housing providers must focus on the resident experience and providing services that can improve convenience, satisfaction and long-term occupancy. This approach should now include integrated renter services. Property management technologies are becoming comprehensive resident engagement ecosystems that support both operational goals and resident stability. A broader definition of affordability There is a marked shift in how affordability is viewed within Canada’s rental housing sector. While rent levels are central to the overall discussion, tenants also care about predictability, flexibility and access to services to help reduce financial friction. Rental housing providers are looking at affordability from a wider perspective, which includes payment flexibility, integrated services and digital convenience. As market conditions shift, rental housing providers should consider solutions that combine operational efficiency with a more holistic approach to resident support. To learn more about Yardi's multifamily solutions, visit yardi.com/multifamily.