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Tenant Survey Results Each year, 20+ senior executives in the multi-family sector gather to advise, consult and educate Informa Connect, the producers of Canadian Apartment Investment Conference, on major trends, opportunities and challenges that are facing the market. Back in 2016, the Canadian Apartment Investment Conference’s advisory panel strongly recommended showcasing tenant preferences at that year’s conference. Discovering that there was a lack of data and deliverables in this area, we developed the Canadian Multi-Res Tenant Rental Survey. In that inaugural year, we produced, distributed and analyzed a survey which had just under 2,000 respondents. Five years later, with over 20,000 annual respondents, the survey has grown to be one of the most prolific in the industry. The breadth of data that we have collected over these last five years enables us to take a deep dive into the shifting preferences of Canadian renters in every age group, major city and income group across the country. In 2020, questions focused on preferences, amenities, programming, lifestyle choices, technology and operations. We also looked at forward looking questions and price indexing. COVID-19 was prioritized with questions that ask specifically how tenants felt pre, during and think they will feel post pandemic. Satisfaction levels are also explored in depth. Once the results are in, we tabulate them based on income, age, position in life, dependents, etc. The information is then cross referenced to enable in-depth findings. We have just launched the 2021 edition of the survey. We’re curious to learn more about how COVID-19 has caused tenants to rethink their ideas around necessary amenities and the accommodation of e-commerce deliveries. We anticipate that the trends we observed emerging in 2020 will continue to take shape in 2021. Full results of the 2021 survey will be released shortly after the 2021 Virtual Canadian Apartment Investment Conference, on September 22 & 23. To virtually attend visit https://www.realestateforums.com/caic/en/overview/overview.html For more information or if you wish to discuss this survey or corresponding excel data dashboard access please contact: Sarah Segal, Director, Informa Connect sarah.segal@informa.com

The 6th Annual Multi-Residential Tenant Rental Survey has just launched Informa Connect, the producers of the Canadian Real Estate Forums, is currently surveying renters across the country. The results will be used to provide essential information to owners, managers and operators about what tenants really care about and want in their homes. Last year over 24,000 tenants responded to this survey. If you rent your place, take this survey to help shape the future of rental housing in Canada. Complete the survey for a chance to win one of three cash prizes.

$3,500 • $1,000 • $500 To access the survery: Visit https://www.surveymonkey.com/r/hma21 or scan the QR code to access the survey

theANNUAL – 57


Tenant Survey Results CHARACTERISTICS OF THE RESPONDENTS Age of Respondents 25 and under

15.2%

26-30

19.1%

31-40

27.0%

41-50

14.5%

51-54

4.7%

55-60

6.5%

61-70

8.0%

71+

5.2%

Marital Status

Age of Respondents 71+ 61-70 55-60 51-54 41-50 31-40 26-30

Single

40.7%

Married

28.0%

Common-law

13.7%

Divorced

7.5%

Separated

4.4%

Widowed

2.9%

Other

2.8%

0%

Current work/life/school scenario 46.1%

Temporary work interruption due to COVID-19

19.5%

Retired

9.3%

Other

7.6%

Student

7.3%

Employed part time

6.3%

On medical leave

1.7%

Stay at home parent

1.5%

On maternity leave

0.9%

5%

10%

15%

20%

25%

30%

35%

40%

45%

Single Married Common-law Divorced Separated Widowed

25 and under

Employed full time

Marital Status 0%

5%

10%

Life/Work/School Scenerio

15%

25%

What type of rental do you live in?

2%

7% 8%

46%

9%

19% Employed full time Retired Student full time On medical leave On maternity leave

Other

30%

1%

2% 6%

20%

Temporary work interruption due to COVID-19 Other Employed part time Stay at home parent

Legacy Purpose Built Rental building

45.7%

Other

13.9%

New generation Purpose Built Rental building

7.9%

Legacy Condominium building

7.7%

New generation Condominium building

6.4%

Brand new Purpose Built Rental building

5.3%

Townhouse

4.6%

Apartment in a house Brand new Condominium building

4.9% 3.7%

What type of rental do you live in?

4%

5% 4%

5% 6%

46%

8% 8% 14% Legacy Purpose Built Rental building

Other

New generation Purpose Built Rental building

Legacy Condominium building

New generation Condominium building

Brand new Purpose Built Rental building

Townhouse

Apartment in a house

Brand new Condominium building

IMPORTANCE OF OUTDOOR SPACE Before Covid-19

How did your feelings change about outdoor space?

During Covid-19

I wanted a private balcony but was fine with premium shared outdoor space

34.5%

36.4%

I did not want luxury shared space and only wanted a private balcony

28.4%

32.1%

I did not care either way / Outdoor space at my building was not important to me

26.4%

23.1%

I wanted shared luxury outdoor space over my own small private balcony

10.7%

8.5%

How did your feelings change about outdoor space? 40% 35% 30%

Desire for private outdoord space grew during the pandemic.

25% 20% 15% 10% 5% 0%

I wanted a private I did not want luxury I did not care either way I wanted shared luxury balcony but was fine with shared space and only / Outdoor space at my outdoor space over my premium shared outdoor wanted a private balcony building was not own small private space important to me balcony Before Covid-19

At your rental, do you have access to outdoor space? Yes

57.1%

No

42.9%

Do you have access to outdoor space?

42.9% 57.1%

Yes

No

Would you rent a unit that does not have access to private outdoor space in the future? No - I would never rent a unit that does not have private outdoor space

45.1%

Yes - I would consider renting a place without access to private outdoor space if it meant I had other benefits.

37.3%

Yes - Private outdoor space is not important to me

17.6%

Although almost half responded that they would not rent a place without access to outdoor space, over a third said that they'd trade outdoor space for other benefits or amenities.

During Covid-19

Would you rent a place without outdoor space?

17.6% 45.1% 37.3%

No - I would never rent a unit that does not have private outdoor space Yes - I would consider renting a place without access to private outdoor space if it meant I had other benefits. Yes - Private outdoor space is not important to me

58 – theANNUAL


Tenant Survey Results APPS OVER KEYS How do you currently enter your rental suite? Traditional key

61.9%

Fob

32.0%

Other

6.1%

If you could choose how to enter your rental suite how would you like to enter?

How do you CURRENTLY access your unit? Other

Fob

0%

10%

20%

30%

40%

50%

60%

70%

Other

Fob

31.2%

Smart phone

Traditional key

30.2%

Mobile phone app

Number pass code

13.1%

Finger print scan

10.3%

Number pass code

Finger print scan Traditional key

How would you PREFER to access your unit?

Mobile phone app

7.0%

Smart phone

5.5%

Other

2.7%

12.5% would prefer to use their phone to access their

Traditional key Fob 0%

5%

10%

15%

20%

25%

30%

35%

INCREASE USE OF VIRTUAL TOURS BUT MOST WON’T MAKE A DECISION BASED ON ONE WITHOUT A VISIT How do you feel about virtual property tours?

Open*

Do not Like*

25 and under

65.2%

20.5%

14.4%

26-30

68.2%

19.9%

11.9%

31-40

67.7%

22.8%

9.5%

20%

I like virtual property tours and could make a decision based on one

41-50

65.6%

25.3%

9.0%

10%

51-54

70.9%

21.5%

7.6%

0%

I do not like virtual property tours and will only rent a property if I can see it in person

55-60

65.2%

26.2%

8.5%

66.5%

I do not like virtual property tours and will only rent a property if I can see it in person

23.7%

I like virtual property tours and could make a decision based on one

9.9%

What do you think of virtual property tours?

I am open to virtual property tours but I would need to visit in person before making a decision 0%

10%

20%

30%

40%

50%

60%

Younger cohorts more comfortable making a rental decision based on a virtual tour

Broken down by Age

I am open to virtual property tours but I would need to visit in person before making a decision

Like*

80% 70%

61-70

66.1%

27.3%

6.7%

71+

58.4%

39.7%

1.9%

60% 50% 40% 30%

25 and under

26-30

31-40

41-50

51-54

55-60

61-70

71+

I am open to virtual property tours but I would need to visit in person before making a decision I do not like virtual property tours and will only rent a property if I can see it in person I like virtual property tours and could make a decision based on one

*I am open to virtual property tours but I would need to visit in person before making a decision *I do not like virtual property tours and will only rent a property if I can see it in person *I like virtual property tours and could make a decision based on one

70%

PACKAGE MANAGEMENT A CHALLENGE DURING THE PANDEMIC Does your building have an automated package locker system?

Pre and during COVID-19 e-commerce usage

Before Covid-19

During Covid-19

No - and I would like to have it offered

66.4%

Yes I purchased goods but not groceries

62.9%

56.7%

Yes - and I use it

18.1%

Yes I purchased goods and groceries

21.4%

28.3%

No - and I do not want it

13.4%

I did not shop online

14.7%

13.6%

Yes - but I prefer not to use it

2.1%

Yes I purchased groceries but not goods

1.0%

1.3%

Do you have an automated package locker system?

70%

How did online shopping trends change among renters?

60%

80%

50%

60%

40%

40%

30%

20%

20%

Before Covid-19

10%

0% No - and I would like to have it offered

Yes - and I use it

No - and I do not want it

Yes - but I prefer not to use it

During Covid-19 0% Yes I purchased goods but not groceries

Yes I purchased goods and groceries

I did not shop online

Yes I purchased groceries but not goods

THE 2021 EDITION OF THE MULTI RESIDENTIAL TENANT RENTAL SURVEY DELVES INTO MANY IMPORTANT TOPICS SUCH AS: 1.

Do renters prefer more living space or more amenities?

8.

How do renters feel about smoking cannabis in or around their rental unit?

2.

How much do amenities matter to prospective tenants?

3.

What are the amenities that renters value the most? What are they willing to pay for them?

9.

What is the premium renters place on an extra bedroom? An extra bathroom?

4.

How have amenity preferences shifted during the pandemic?

10.

Did renters move during the pandemic? Are they planning to move in the next 12 months? What kind of a home are renters planning to move into next?

5.

How do most renters go to work / school?

6.

Do they own cars? Is there enough parking at their rental? What about for their guests?

11.

Which locational factors play the biggest role in deciding where to live?

7.

Why do people choose renting over buying their home?

12.

How satisfied have renters been with communication from their landlord / manager during COVID-19?

theANNUAL – 59

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theANNUAL National 2021 - Tenant Survey Results  

theANNUAL, theANNUAL National, Tenant Survey Results, Informa

theANNUAL National 2021 - Tenant Survey Results  

theANNUAL, theANNUAL National, Tenant Survey Results, Informa

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