VOLUME 23 / NUMBER 3 / MAY/JUNE 2026
WHO’S WHO 2026
SPONSORED BY:
CANADA’S NEW RENTAL REALITY
THE FORCES DRIVING OCCUPANCY IN TODAY’S CHALLENGING MARKET
PA R T O F T H E
plus
GEN Z INSIGHTS
PM#40063056
REDUCING TURNOVER
ZONING REFORMS
P A R T
O F
T H E
Over 25 30 Years’ Years’ Experience Experience in in Renovating Renovating Apartments and Condominiums
COMMERCIAL •• INDUSTRIAL INDUSTRIAL •• RESIDENTIAL RESIDENTIAL •• INSTITUTIONAL INSTITUTIONAL COMMERCIAL General Renovations Renovations General
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EDITOR’S NOTE>>
LEASING IN 2026 Editor
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Senior Graphic Designer
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Production Manager
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President Kevin Brown Group Publisher Sean Foley Copyright 2026 Canada Post Canadian Publications Mail Sales Product Agreement No. 40063056 ISSN 1712-140X Circulation 416-512-8186 ext. 234 circulation@mediaedge.ca Subscription Rates: Canada: 1 year, $50*, 2 years, $90*, US $75 International $100, Single Copy Sales: Canada: $12* * Plus applicable taxes Requests for permission to reprint any portion of this magazine should be sent to Erin Ruddy. Authors: Canadian Apartment Magazine accepts unsolicited query letters and article suggestions. Manufacturers: Those wishing to have their products reviewed should contact the publisher or send information to the attention of the editor. The opinions expressed are those of the authors of articles and do not necessarily reflect the views of Canadian Apartment Magazine. This information is general and is not a substitute for legal advice.
With vacancy rates rising across most Canadian cities, renters now hold the leverage — and they’re using it. The operators thriving in this new landscape are the ones embracing flexibility, transparency, and a genuine understanding of renters’ expectations for value, rather than relying on the old “take it or leave it” approach that once dominated. In this issue, we examine how renter demographics and preferences have shifted, and what that means for Canadian rental housing providers as they head into the summer leasing season. The goal is clear: fill vacancies faster and maintain occupancy yearround. Success today comes from treating renters as informed partners, not passive applicants endlessly cycling through a revolving door. Our cover story highlights a major purpose-built rental community called Rose Towers, which is now underway in Brampton, Ontario — an ambitious project designed to meet the evolving needs of a growing local workforce. Even as many markets experience softening demand, joint developers Skyline and Solmar Development Corp remain confident in Brampton’s long-term momentum and ability to attract tenants seeking high-quality rental options for the long run. You’ll also find our annual Who’s Who ranking of Canada’s top rental housing providers — organizations that continue to strengthen the sector despite today’s heightened pressures. It’s always interesting to see which companies are leading the industry forward, delivering and managing sought-after rental homes in markets of all sizes. Thank you for your continued readership, and I hope you enjoy the issue. Please reach out with any questions, concerns or story ideas. I’d love to hear from you! Sincerely, Erin Ruddy
Sworn Statement of Circulation: Available from the publisher upon written request. Although Canadian Apartment Magazine makes every effort to ensure the accuracy of the information published, we cannot be held liable for any errors or omissions, however caused. Printed in Canada. Return Undeliverable Canadian Addresses to Circulation Dept: 365 Evans Avenue, Suite L10, Toronto, Ont. M8Z 1K2
rent trends NATIONAL AVERAGE RENT – MAY 2026 $2,679 -5.3%
$1,869
$1,452
-3.8%
$1,603 -1.2%
Avg. Rent Total
5.6%
$1,662 0.2%
$2,027 -4.7%
$1,971 -1.3%
$2,504 -4.4%
$2,256 -1.4%
Source: Rentals.ca
VOLUME 23 / NUMBER 3 / MAY/JUNE 2026
FEATURE 12 THE NEW TENANT DEMOGRAPHIC Who’s driving demand this summer and beyond by Erin Ruddy
16 WHO’S WHO Canadian Apartment’s official 2026 ranking 28 CLIMATE ACTION AT A CROSSROADS Navigating the complexities and challenges of decarbonization by Erin Ruddy
COLUMNS 6 Transactions Q2 Rental Market Update 8 CMHC Report Housing Accelerator Fund Gains Momentum 32
Newsworthy Industry Hot Topics
36 Ask the Expert From Leases to Loyalty
COVER STORY
DEPARTMENTS
24 A DDRESSING BRAMPTON’S RENTAL BOOM The Rise of Rose Towers
2
by Erin Ruddy
ON THE COVER:
VOLUME 23 / NUMBER 3 / MAY/JUNE 2026
Rendering of the Rose Towers in Brampton, Ontario
Editor’s Note
38 Smart Ideas
CANADA’S NEW RENTAL REALITY THE FORCES DRIVING OCCUPANCY IN TODAY’S CHALLENGING MARKET
PA R T O F T H E
PA R T O F T H E
plus
GEN Z INSIGHTS
REDUCING
TURNOVER
P A R T
O F
T H E
P A R T
O F
T H E
ZONING REFORMS
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Q2 Rental Market Update Stability and selective softening create new opportunities for investors Rental demand in Canada has entered a period of measured stability, shaped by shifting immigration policy, softer labour conditions, and persistent uncertainty in the ownership market. These forces are subtly reshaping how renters, landlords, and investors engage with today’s purpose-built rental landscape.
According to recent data, demand has cooled from the exceptional highs of recent years. The federal government’s reduced intake targets for international students and temporary foreign workers have eased some of the pressure that previously drove rapid absorption. At the same time, a weakening job market has slowed household formation, contributing to a more balanced environment overall.
Even so, rental demand remains resilient, supported by widespread hesitation in the home purchase market. Elevated interest rates and persistent affordability challenges continue to steer many would be buyers toward long-term renting, reinforcing the sector’s stability. This recalibration has introduced downward pressure on rents, particularly in higher priced submarkets where affordability limits have
New & Notable Transactions Address
Source: Morguard
Market
Sale Price (millions)
No. of Units
Sale Price/ Unit
Sub-Type
Purchaser
1.
150 Roehampton Ave
Toronto
$90.8
148
$613,176
High Rise
Torimmo Inc.
2.
Winding Trail Garden Homes 1350, 1400 Winding Trail
Toronto
$45.0
149
$302,013
Townhomes
FAX Real Estate/ Distrikt Capital
3.
1465 Lawrence Ave W, 1450 Sheppard Ave W
Toronto
$106.1
345
$307,391
High Rise
Dream
4.
The Capri 630 Vesta Dr
Toronto
$26.1
70
$373,286
Mid Rise
Gowan Property Management
5.
Vee Rental Condos 3405, 3409, 3413 Rene-Laennec Blvd
Montreal
$35.5
98
$362,245
Mid Rise
Groupe Khoder
6 | Canadian Apartment | Part of the REMI Network
TRANSACTIONS >>
been reached. In Canada’s most expensive cities — Vancouver and Toronto — landlords are increasingly offering incentives such as modest free rent periods to sustain occupancy. While not universal, these concessions mark a notable shift after years of exceptionally tight vacancy. “Despite these adjustments, overall market conditions remain healthy by historical measures,” said Keith Reading, Director of Research at Morguard. “Investors, in particular, continue to show confidence in the long-term fundamentals of the purpose-built rental asset class.” Reading noted that acquisition pricing has stabilized following a period of recalibration. Premiums are now concentrated on new builds and well located concrete high rises, reflecting investor preference for durable, low-maintenance assets with strong long-term rent growth potential. Meanwhile, investment demand continues to exceed the supply of high-quality stabilized properties, creating a competitive bidding environment for top tier assets. This imbalance underscores the sector’s enduring appeal, even as short-term dynamics evolve. Taken together, the Canadian rental market is transitioning from a period of intense pressure to one of measured equilibrium — a phase defined by stability, selective softening, and sustained longterm confidence.
ARE YOU CONTEMPLATING THE SALE OF YOUR APARTMENT PROPERTY/PORTFOLIO?
For more info, please contact:
Consider the following: • Who will represent your best interests? • Who will give your property maximum exposure? • Who will deliver the highest value for your Property/Portfolio? With over 35 years of experience, tens of thousands of units sold, and hundreds of clients represented, we have consistently delivered superior results. Through our local and national coverage, we create maximum exposure, ensuring maximum value for your property. For more information on recent transactions and active listings, please reach out to a member of our team.
Tom Schuster
±$11B
Sales Volume
±68,000
Suites Sold
±35 Years
David Montressor Vice Chairman Sales Representative (416) 815-2332 david.montressor@cbre.com Director Sales Representative (416) 847-3257 tom.schuster@cbre.com Scan to receive Apartment Listings and Market Research
of Experience
SOLD FOR $45,000,000
SOLD FOR $26,130,000
SOLD FOR $72,000,000
ACTIVE LISTING
Winding Trail Garden Homes Mississauga, ON 149 Townhome Units
630 Vesta Drive Toronto, ON 70 Suites
1551 Lycée Place Ottawa, ON 258 Suites + Commercial
233 Dunlop Street West Barrie, ON 93 Suites + Commercial
This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved.
www.REMInetwork.com | May/June 2026 | 7
Housing Accelerator Fund Gains Momentum Data points to faster approvals, zoning reforms, and rising permit volumes Canada’s Housing Accelerator Fund (HAF) is showing measurable progress as municipalities advance policy changes aimed at boosting housing supply. According to the latest federal update, issued in May, 32 municipalities have met or exceeded their HAF commitments, making them eligible for additional reinvestment to support continued reform.
“O
ur government is removing barriers and cutting red tape to enable more housing in communities across Canada,” said Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada. “We reward local governments that are delivering real results and building more homes faster. By reinvesting in proven success, we are helping more Canadians access the housing they need.” Since its launch in 2023, municipalities participating in HAF have issued more than 334,000 residential building permits, with early data indicating that the program is already contributing to faster approvals and increased construction activity. Local reforms span a wide range of initiatives — from accelerating laneway housing 8 | Canadian Apartment | Part of the REMI Network
approvals to updating zoning bylaws that permit as-of-right multiplexes in low density neighbourhoods, enabling more small-scale rental housing. Several cities have also introduced fast-track approvals for purpose-built rentals or eliminated minimum parking requirements near transit to reduce construction costs and encourage density.
Successful action plans underway
According to CMHC’s new HAF Progress Tracker, launched in January 2026, Calgary remains on track to deliver more than 6,800 new homes, supported by over $228 million in federal funding. The city is currently advancing seven major initiatives, including accelerated approvals, zoning reforms to expand missing middle options like rowhouses and townhomes and increased affordable
housing development. Calgary has seen a sharp rise in housing activity over the past two years, and HAF supported measures — such as streamlined permitting, digital modernization, and higher density infill — are helping sustain that growth. Toronto is making significant progress, as well. Supported by $471.1 million in federal funding, the city has achieved 37.5 per cent of its three year target for 60,980 net new permitted homes, completing 21 of 35 milestones in its Action Plan. Toronto is advancing eight major initiatives in all, including activating more than 50 City-owned sites for rent-controlled and affordable housing, allocating $351 million to unlock nearly 6,000 rental homes, and introducing new incentives for purpose-built rental development. Guelph, Ontario, is accelerating housing
CMHC REPORT >> delivery through a new multi-unit accelerator grant, backed by $2 million from the Housing Accelerator Fund. The program fast-tracks select projects by supporting faster permitting timelines and offering up to $10,000 per unit for eligible developments. The initiative aims to help advance 1,000 new housing units by the end of 2026, reinforcing Guelph’s commitment to speeding up approvals and increasing supply. Moncton is one of eight New Brunswick municipalities receiving a share of $2.9 million in
reinvested HAF funding for meeting or exceeding program expectations. The NB communities have each demonstrated strong progress by adopting zoning reforms and increasing housing output — including Riverview, which is using its reinvested $492,000 allocation to purchase land for future affordable housing development and advance a Neighbourhood Growth Strategy that supports higher density, mixed-income housing. Across Canada, the 32 municipalities that have met or exceeded their HAF commitments have
earned $42 million in reinvested federal funding to support 1,300 additional residential building permits. These communities — representing a mix of large cities and mid-sized municipalities — have advanced a range of reforms, including as of right multiplex zoning, fast-track approvals, and reduced parking requirements near transit. Together, these measures are helping to accelerate construction timelines, lower development costs, and support sustained growth in housing activity nationwide.
Funding boost brings new rentals to Scarborough
27-storey development underway at 26 Gilder Drive As part of Canada’s broader strategy to address the housing crisis, the federal government and the City of Toronto have announced over $160 million in combined funding to help support the construction of 341 new rental homes in Scarborough, Ontario. Led by the Rose Corporation, 26 Gilder Drive is a 27-storey mixed-market and affordable rental apartment in the Eglinton East neighbourhood of central Scarborough. The property is positioned on surplus land adjacent to an existing apartment complex, school, and park, and just 800 metres from the Kennedy & Lawrence transit hub. In the announcement, federal officials emphasized that investments in rental housing strengthen supply chains, support job creation, and contribute to a more resilient national economy. “It’s clear that housing is one of the top priorities for people in Scarborough,” said Michael Coteau, Member of Parliament for Scarborough–Woburn. “Our federal government is delivering on its commitment to build more homes through strategic investments like this one. The more homes we build, the more opportunities we create for people across our community.” The project is supported by $149 million in fully repayable federal loans through the Apartment Construction Loan Program (ACLP) and $11.4 million from the City of Toronto’s Rental Housing Supply Program. The ACLP — a $55 billion initiative under the National Housing Strategy — provides low interest loans to encourage construction of purpose-built rentals for middle income Canadians. As of December 2025, CMHC has committed $29.45 billion through the program to support more than 74,600 new rental homes nationwide. “The Rose Corporation is proud to deliver these affordable and market rental homes to help address the evolving housing needs of the Scarborough community,” said Daniel Berholz, president, The Rose Corporation.
“This project simply would not have happened without the support and partnership of CMHC and the City of Toronto, and we’re grateful for their commitment to the delivery of purpose-built rental housing during a very challenging market.” For more on this project, visit: www.rosecorp.com/26-gilder-drive.
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www.REMInetwork.com | May/June 2026 | 9
SPONSORED CONTENT
THE OUTDOOR SMART LOCK MULTIFAMILY HAS BEEN WAITING FOR Smart access has reached every corner of multifamily housing except the doors that face the weather, but that is finally changing.
N
ot every apartment unit sits behind a climate-controlled corridor; plenty of rental portfolios include buildings where every unit door opens directly to the outside, and every lock on those doors is exposed to the harsh Canadian weather year-round. Think garden-style complexes. walk-ups with open breezeways, ground-floor patio units, townhomestyle stacked rentals, bungalow clusters, casita communities, and cabin-style resort properties. At turnover, someone is out there with a rekeying kit, standing in the rain or the cold, swapping pins on a mechanical deadbolt that could have been replaced years ago if only there had been a better option that could survive everything Mother Nature could throw at it. Inside those same buildings, the access control story is different. Lobbies, amenity rooms, mail centres, fitness areas, and parking garages run on cloud-managed platforms that issue and revoke credentials remotely, log every access event, and eliminate rekeying entirely. Residents expect it: NMHC reports that 67 per cent of renters now want keyless entry. The gap is not inside the building; the gap is at the building envelope.
WHERE THE WORKAROUNDS BREAK DOWN Property managers have tried to close that gap: some installed consumer-grade smart locks on exterior doors, but the electronics corroded and keypads froze. Warranty claims went nowhere because the locks were never rated for outdoor use. Others stuck with mechanical deadbolts and absorbed the costs: rekeying at every turnover, managing duplicate key inventories, and accepting the security liability of credentials that can be copied at any hardware store for a few dollars. Neither approach is scaleable. A 150-unit garden-style community with two turnovers per unit per year is rekeying 300 locks annually. That involves labour, parts, coordination, and time a maintenance team could spend on work that actually improves the property. Meanwhile, the exterior doors remain the only access points on the property without audit trails, remote credential management, or the ability to reissue a lost key instantly.
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WHY DID THE HARDWARE NOT EXIST UNTIL NOW? Building a smart lock that survives outdoors is not a matter of simply adding a rubber gasket; the electronics have to function reliably in temperatures from -35º to over 60º. Those temperature extremes stress batteries, digital displays, and the delicate interior electronics like wireless antennas at each extreme. The housing needs an IP55 rating to resist dust and water from any angle. The lock still has to meet fire door assembly standards, because many exterior-facing unit doors sit on rated openings. ANSI/BHMA Grade AAA certification and a UL 10C fire rating of 180 minutes on metal doors are code requirements in multifamily, not optional upgrades. It also must fit existing holes. Retrofitting a rental property does not come with the luxury of reframing doors. Whatever goes on needs to drop into the existing deadbolt door prep, the standard round bore hole that mechanical deadbolts have used for decades. A product that requires new holes or hardwired power is a non-starter when people are living behind those doors, and the budget has to work across the portfolio. A DEADBOLT THAT CHECKS EVERY BOX Salto has addressed this challenge with the new DBolt Touch Outdoor, a smart deadbolt built for exterior residential doors that meets the benchmarks and code requirements above. It runs on three AA batteries rated for up to 85,000 cycles, fits into a standard deadbolt hole with no additional drilling or door modification, and a maintenance tech can swap out a mechanical deadbolt with a screwdriver. The touchpad accepts RFID cards and fobs, NFC credentials,
Bluetooth digital keys, and PIN codes. That credential range ties outdoor doors back into the rest of the building, so a resident with a single card or phone can now move from parking garage to lobby to elevator to fitness room to their exterior-facing front door - with one key. WHAT CHANGES ON THE OPERATING SIDE? The exterior door joins the same managed smart access ecosystem as every other door and access point. Credential issuance, revocation, and audit logging happen in one platform, so rekeying disappears and the security gap at the building envelope closes. The resident experience is upgraded: a renter in a garden walk-up or a ground-floor patio unit gets the same modern keyless convenience that luxury high-rise residents have had for years. Their front door works the same as the pool gate, workout room door, and main entrance. For multifamily owners competing for tenants in a tightening rental market, that parity matters. The fact that the unit door faces a snowstorm instead of a hallway no longer means it gets left behind.
For more information: saltosystems.ca
The New Tenant Demographic Who’s driving demand this summer and beyond by Erin Ruddy After years of unprecedented population growth, record-low vacancies, and bidding wars for high-priced apartments, Canada’s renter base is undergoing a fundamental shift. For apartment owners, understanding this new demographic reality is quickly becoming a competitive advantage. 12 | Canadian Apartment | Part of the REMI Network
FEATURE >>
A
ccording to new analysis from Quebec-based rental platform liv.rent, slowing population growth, rising vacancy rates, and a cooling labour market are reshaping who is renting across the country. CMHC data reinforces this trend: national purpose-built rental vacancy reached 3.1 per cent in October 2025, up from 2.2 per cent a year earlier. Meanwhile, Statistics Canada reports that immigration fell 17.2 per cent in Q3 2025 compared with the same quarter in 2024, with 102,867 newcomers admitted versus 124,266. Together, these shifts have produced a renter population that is older, more local, more price sensitive, and more focused on value than at any point in recent memory.
A “post immigration” rental market
For much of the past decade, newcomers to Canada were a primary driver of rental demand in major cities. But with immigration declining sharply in 2025, and non-permanent resident (NPR) inflows reversing, the 2026 renter pool looks markedly different. “The net loss of 290,392 non-permanent residents in 2025, compared with a net gain of 319,506 the year before, marks one of the sharpest demographic reversals in Canada’s history,” notes liv.rent’s 2026 rental report. “All provinces except Nunavut moved from net gains to net losses. This shift is
being driven by layered federal restrictions on international students, post graduation work permits, family open work permits, and temporary foreign workers — and it’s reshaping rental demand in real time.” For apartment owners, this means fewer tenants cycling through shortterm leases tied to settlement patterns, and more renters who are already rooted in their communities. Seasonal volatility around academic calendars is easing, and Canada’s renter base is becoming not only more stable but also more selective. Local renters compare properties more rigorously, negotiate more assertively, and move quickly when expectations aren’t met. This behavioural shift is reinforced by a softening labour market and slower household formation. Asking rents fell 3.2 per cent nationally in 2025, even as rents paid by existing tenants continued to rise. The result is a renter population newly empowered to demand value.
Older, affordability-driven households
With affordability concerns at their highest point in decades, a new class of “reluctant renters” has emerged — middle income households who, in previous cycles, would have transitioned into homeownership but can no longer make the leap. CMHC reports that national home prices averaged $653,000 in early 2026, down 2.6 per cent year over year yet still far out of reach for many.
www.REMInetwork.com | May/June 2026 | 13
FEATURE >>
These reluctant renters are typically in their 30s and 40s. Many are dual income professionals seeking stability rather than transience, and they expect condo-level finishes, amenities, and service standards. According to housing analysts, they tend to stay longer than younger renters but are highly sensitive to total monthly costs, including utilities, parking, and amenity fees. They reward transparency and penalize hidden charges. They prioritize accessibility, quiet, well maintained buildings, and predictable rent increases. While younger renters remain active — especially in major city centres and university hubs — older adults now make up a growing share of tenants, particularly in secondary markets where affordability is stronger.
The Gen Z renter
Gen Z renters in 2026 differ sharply from the millennials who entered the market a decade earlier. They are more budget-conscious, more mobile, and more digitally oriented. Key traits include: • A preference for smaller units if it means lower rent • Strong reliance on transit over parking • High expectations for digital leasing, digital maintenance requests, and digital communication • Low tolerance for outdated finishes or slow service
14 | Canadian Apartment | Part of the REMI Network
• A willingness to move — locally or across provinces — if dissatisfied This cohort is shaping demand for compact, efficient units and seamless digital experiences.
The defining trait of the 2026 renter
Across every age group, the defining characteristic of the 2026 renter is value sensitivity. Rising supply, slowing demand, and moderating rent growth have shifted the balance of power. New rental completions and an influx of condo units expanded inventory in 2025, while weaker labour markets and reduced immigration softened demand. “Rental operators are grappling with a deluge of supply at the moment due to intense competition from the condo market and a surge in tenants moving to get a better deal,” said Shaun Hildebrand, President of Urbanation. “Supply pressures will persist this year as apartment completions run high and population growth slows, creating a window of opportunity for renters to capitalize on improved affordability.” As a result, tenants are asking more pointed questions: What am I getting for this rent? Are utilities included? Is parking negotiable? Are the amenities genuinely useful? Owners who can answer these questions clearly — and competitively — are the ones most likely to outperform the market.
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WHEN THE MARKET TIGHTENS, INTELLIGENCE WINS By Peter Altobelli, President, Yardi Canada Ltd. The numbers tell a clear story. Canada’s national apartment vacancy rate reached 5.1% in Q1 2026 while new lease rents turned negative nationally, falling 1.0% lease-over-lease, as per Yardi’s Canadian National Multifamily Report. Eight of the top 12 CMAs recorded declining new lease rents. Annual turnover hit 25.8%, with Calgary and Saskatoon pushing past 40%. Meanwhile, expenses averaged $8,053 per unit nationally, rising faster than income across most markets. Operators are being asked to do more with the same teams, protect margins in a softening rent environment and manage higher unit churn, all at once. The question is no longer whether technology can help. It’s who is using it, and how well.
compounds fast. AI-powered inspection workflows, where a technician narrates a video walkthrough and the system generates the inspection record and work orders automatically, are reducing turn time without changing what expertise is required on the ground.
Converting more with the same pipeline How renters find apartments has shifted fundamentally. AI-powered search tools now synthesize listings, reviews and property content to generate recommendations, meaning properties without a structured digital presence may not appear at all. At the same time, digital prospect conversion rates vary sharply across Canadian markets, from 5.4% in Halifax to 13.1% in Saskatoon. In a market where new lease rents are declining, converting a higher share of existing prospects is worth more than chasing incremental volume.
On the expense side, AI is being applied to invoice approval workflows, with estimates suggesting operators can recover 6,500+ hours for every 100,000 invoices processed. Separately, AI-assisted vendor payment term analysis is surfacing early-payment discount opportunities that previously required dedicated resources most operators don’t have. As Yardi’s Q2 2026 report notes directly: operators should be “using technology like AI to improve building and leasing efficiencies” as expenses outpace income.
AI-assisted leasing systems are handling thousands of prospect conversations across Canada today: availability questions, tour scheduling and follow-ups that reference what the prospect actually asked about. A personalised follow-up that references a prospect’s specific unit preferences, move date and pet policy converts at a higher rate than a generic one. Operations: Every turn, every invoice With national turnover at 25.8% and climbing, the cost of inefficient unit turns
16 | Canadian Apartment | Part of the REMI Network
The executive layer Another innovation is the ability to connect your portfolio data to popular LLMs like Claude using MCP, giving asset managers conversational access to live portfolio data so the gap between a question and an accurate answer shrinks from days to seconds. In a market that changes quarter over quarter, that speed matters. The data is already telling you where the pressure is. The operators acting on it now won’t be waiting to find out what’s possible. To see how Canadian multifamily companies are putting this into practice, visit yardi.com/virtuoso.
IN THE CANADIAN APARTMENT INDUSTRY MANAGE ONLY
NUMBER OF UNITS
OWN ONLY
NUMBER OF UNITS
MANAGE & OWN
NUMBER OF UNITS
MetCap Living Management Inc.
21,219
Globe Capital Management
8,006
Starlight Investments
Cogir Real Estate
19,550
Oxford Properties Group
5,522
CAPREIT
45,905
Sterling Karamar Property Management
19,041
Crestpoint Real Estate Investments Ltd.
2,886
Boardwalk REIT
34,576
Tribe Management Inc.
15,918
Shindico Realty
2,265
Homestead Land Holdings Limited
27,200
Greenwin Corp.
15,370
Fiera Properties
2,222
Realstar Management
22,232
Devon Properties Ltd
14,315
NexLiving Communities Inc.
2,200
Hazelview Investments Inc.
21,739
Briarlane Rental Property Management Inc.
11,857
Dream
2,154
Centurion Asset Management Inc.
20,665
GWL Realty Advisors
9,560
I.G. Investment Management, Ltd.
1,757
Skyline Apartment REIT
20,457
Berkley Property Management Inc.
7,660
Westcliff Ltee
1,350
Mainstreet Equity Corp.
19,292
Kipling Realty Inc.
5,953
Sabjoy Inc.
1,216
Killam Apartment REIT
17,927
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www.REMInetwork.com | May/June 2026 | 17
CANADIAN APARTMENT WHO’S WHO 2026
RANK
UNITS MANAGE
OWN
BUILDINGS BOTH
TOTAL
52,191
MANAGE
OWN
BOTH
TOTAL
807
807
1
Starlight Investments
52,191
2
CAPREIT
45,905 45,905
-
3
Boardwalk REIT
34,576 34,759
-
4
Homestead Land Holdings Limited
5
Cogir Real Estate
19,550
5,304
6
Centurion Asset Management Inc.
2,497
7
Realstar Management
8
Hazelview Investments Inc.
188
9
MetCap Living Management Inc.
21,219
10
Skyline Apartment REIT
20,457 20,457
230
230
11
Mainstreet Equity Corp.
19,292
940
940
12
Sterling Karamar Property Management
13
Killam Apartment REIT
14
Greenwin Corp.
15,370
15
Tribe Management Inc.
16
183
27,200 27,200
104
210
210
37
198
20,665 23,162
149
149
22,232 22,232
165
165
210
213
21,739
24,854
22,031
161
2
1
21,219
19,041
-
19,292 19,041
217
217
17,927
17,927
206
206
2,336
17,706
190
26
216
15,918
15,918
197
197
Devon Properties Ltd
14,315
14,315
263
263
17
InterRent REIT
1,277
18
11,672
12,949
-
Northview Residential REIT
12,785
12,785
-
19
Medallion Corporation
12,171
12,171
20
Briarlane Rental Property Management Inc.
21
BentallGreenOak (Canada) Limited Partnership
11,767
11,767
64
64
22
Park Property Management Inc.
11,245
11,245
91
91
23
GWL Residential
9,725
11,046
39
51
24
Drewlo Holdings Inc.
10,899
10,899
89
89
25
GWL Realty Advisors
26
Morguard
11,857
962
11,857
359
9,560 70
8,137
90 141
7
9,560
49
8,207
1
90 141
5
49 26
27
CANADIAN APARTMENT WHO’S WHO 2026
RANK
UNITS MANAGE
OWN
773
27
Minto Group
28
Globe Capital Management
29
Berkley Property Management Inc.
7,660
30
Kipling Realty Inc.
5,953
31
Shelter Canadian Properties Limited
4,574
32
Oxford Properties Group
33
Osgoode Properties
412
34
Prospero International Realty Inc.
5,095
35
Concert Properties Ltd.
36
BUILDINGS BOTH
TOTAL
MANAGE
7,269
8,042
12
8,006
8,006 50
1,358 5,522
7,710
89
5,953
41
5,932
33
2
5,095
114
4,889
M&R Holdings
4,526
37
Kelson Group
38
TOTAL
114
126 79
2
91 41
15 17
5,422
4,722
BOTH
79
5,522 5,010
OWN
48 17
23
25 114
26
28
4,526
36
36
4,443
4,443
61
61
Old Oak Properties Inc.
4,431
4,431
33
33
39
Williams and McDaniel Property Management
4,034
4,034
138
138
40
Equium Group
3,891
102
3,993
61
9
70
41
Shindico Realty
638
1,038
3,941
13
12
29
42
Lameer Management Inc.
3,030
565
3,595
186
26
212
43
RioCan
3,099
3,099
44
M Group of Companies
1,813
3,091
45
Crestpoint Real Estate Investments Ltd.
46
Colliers
2,695
2,695
52
52
47
Pacific Quorum Properties Inc.
2,465
2,465
133
133
48
O'Shanter Development Company Ltd.
349
2,389
3
49
Apollo Property Management Ltd.
2,244
2,244
19
50
Fiera Properties
51
Colonnade BridgePort
52
NexLiving Communities Inc.
Expect more media, reach & conversions
167
2,265
1,278 2,886
2,214 2,200
171
2,200
48 44
2,222 2,214
4
-
2,886
2,040
2,222
2
219 44
25
28 19
19 18
19 18
60
60
Now with
CANADIAN APARTMENT WHO’S WHO 2026
RANK
UNITS MANAGE
OWN
BUILDINGS BOTH
2,154
TOTAL
MANAGE
OWN
BOTH
18
2,154
TOTAL
53
Dream
54
Brown Group of Companies Inc., The
557
55
CLV Group
1,957
56
WJ Properties
1,938
1,938
14
14
57
Southwest Properties Ltd.
1,914
1,914
32
32
58
Twin City Management Ltd.
1,856
59
Rancho Management Services Corporation
1,757
60
DBS Developments
61
Provincial Property Management Limited
1,800
62
Lawrence Construction/Grant Management
718
63
I.G. Investment Management, Ltd.
64
AWM-Alliance Real Estate Group Ltd.
1,755
1,755
19
19
65
Warrington PCI Management
1,615
1,615
24
24
66
Avison Young (Canada) Inc.
1,556
1,556
67
BlueStone Properties Inc.
68
Dorset Realty Group Canada Ltd
69
Bedford Properties & Estates Ltd.
70
Westcliff Ltee
71
Niot Investments Holdings Ltd.
1,350
1,350
21
21
72
Anthem Properties
1,273
1,273
14
14
73
Westcorp Property Management
206
1,062
1,268
3
3
74
Brookfield Properties
1,250
75
Sabjoy Inc.
1,216
76
Crombie REIT
1,198
77
EPIC Investment Services
1,194
78
Hines
190
1,553
2,110
8
1,957
54
1,856
73
78
1,835
14
1,831
1,831
1,043 1,757
1,800
28
1,761
7
1,757
1,424 1,404 1,354 1,350
73 1
15
8
8 28
15
22 10
9 59
9 59
34
1,354 105
34 105
1,250
-
1,232
-
1,198
994
18 54
10
1,350
16
10
1,424 1,404
18
3
3
1,194
2
1,184
1
2 2
3
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CANADIAN APARTMENT WHO’S WHO 2026
RANK
UNITS MANAGE
OWN
BUILDINGS BOTH
1,161
TOTAL
MANAGE
1,161
15
OWN
BOTH
TOTAL
15
79
Atlantis Realty Services, Inc.
80
CaraCo Property Management Ltd.
1,120
1,120
15
15
81
State Building Group
1,111
1,111
15
15
82
SmartCentres REIT
83
Transpacific Realty Advisors
84
Choice Properties REIT
923
923
85
NADG
867
867
86
Jones Lang LaSalle Real Estate Services, Inc. (JLL)
800
800
87
SolutionCondo/Rentalys Solution
728
728
52
52
88
Compass Commercial Realty LP
667
667
8
8
89
Equitable Real Estate Investment Corporation Ltd.
616
616
29
29
90
Cominar REIT
91
Shape Property Management Corp.
92
Royal/Kente Property Management
500
500
35
35
93
Real Estate 360 Property Advisory
482
482
14
14
94
Canlight Management Inc.
416
36
452
7
95
Arnon Corporation
441
441
96
Gulf Pacific Property Management Ltd.
421
421
97
Lionheart Property Management Inc.
400
400
98
Goodwood Property Investment Ltd.
400
400
3
3
99
Davpart Inc.
378
378
14
14
255
306
5
6
1,078
1,078
1,000
51
101
Narland Management
23
102
Downing Street Property Management Inc.
103
426
608
537
537
3
25
1,000
182
100 Virtus Diversified REIT
3
25 2
2 -
1
1
2
2
2
1
8
3
3
5
5 -
1
273
2
258
258
19
19
Canadian Urban Limited
166
166
2
2
104 Glenview Management Limited
145
250
16
161
1
3
1
1
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CANADIAN APARTMENT WHO’S WHO 2026
RANK
UNITS MANAGE
105
OWN
BUILDINGS BOTH
115
Lanesborough Real Estate Investment Trust
TOTAL
MANAGE
OWN
2
115
BOTH
TOTAL
2
106 Summa Property Management
111
111
4
4
107
108
108
4
4
Goldview Property Management Ltd.
108 Dayhu Investments Ltd.
89
89
-
109 Gitalis Group Inc.
80
80
110
Taft Management Inc.
78
78
6
6
111
Nicola Institutional Realty Advisors
60
60
1
1
112
Axwood
45
45
113
ICC Property Management Ltd.
38
38
114
Skywater Property Management
36
36
115
The Enfield Group Inc.
30
30
1
1
116
Regency Group
30
30
3
3
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ADDRESSING B RENTAL BOOM The Rise of Rose Towers
24 | Canadian Apartment | Part of the REMI Network
BRAMPTON’S M
BY ERIN RUDDY In 2026, renter expectations across Canada continue to shift toward high-quality, amenity-rich, transit-connected living — and nowhere is this more evident than in Brampton, Ontario, one of the country’s youngest, fastest growing, and most diverse cities. With its population now surpassing 700,000, Brampton continues to face sustained pressure to expand its rental housing supply. Unlike markets where demand has softened, rental demand in Brampton remains strong, driven by the city’s large share of newcomer settlement, a growing workforce, and a significant proportion of households seeking high-quality, purpose-built rental options. www.REMInetwork.com | May/June 2026 | 25
COVER STORY >>
A
ccording to joint developers Skyline and Solmar Development Corp., the project aligns directly with Brampton’s intensification strategy and its goal of creating complete, connected communities, particularly within the Queen Street Corridor — one of Ontario’s designated Urban Growth Centres and a future higher order transit spine. “Rose Towers is designed to appeal to a broad mix of renters seeking high-quality, professionally managed rental housing in a well-connected urban location,” said Greg Jones, President, SkyDev. “We expect to attract interest from young professionals, families, downsizers, and long-term renters who want access to transit, amenities, and modern rental options in Brampton’s core.” Jones noted that recent provincial policy changes were instrumental in advancing the feasibility of Rose Towers. The removal of HST on new purpose-built rental construction, combined with time-limited development charge waivers from the Region of Peel and the City of Brampton, significantly improved the economics of the project. “Without the policy changes, the rents required to support construction would have
been significantly higher and less attainable for many residents,” he said. “These policies helped bridge the gap between development costs and market affordability, enabling projects like Rose Towers to move forward at a time when new rental supply is urgently needed.” The approvals process for Rose Towers was supported by a collaborative and responsive approach from both the City of Brampton and the Region of Peel. According to Jones, municipal staff provided thorough and timely reviews, helping to keep the project progressing smoothly. “While large-scale developments inherently involve complex coordination, there were no unique challenges specific to this project. All parties worked diligently together, which reflects our shared goal to get shovels in the ground for new rental housing,” he said. “The positive collaboration on this project demonstrates what is possible when the public and private sectors align around a common goal for the benefit of the community.”
Kicking off the new build
A major draw for residents, once complete, will be the development’s proximity to grocery stores, Brampton Civic Hospital, Algoma University, restaurants, downtown amenities, and
Brampton by the numbers Brampton continues to rank among Canada’s most competitive rental markets, with strong population growth and limited new supply driving sustained demand for purpose built rentals. Recent data from Rentals.ca highlights the scale of that pressure and the opportunity for new projects like Rose Towers. • Population growth: Brampton’s population now exceeds 700,000, with annual growth rates consistently among the highest in the country. The city is projected to surpass 900,000 residents by 2041, driven largely by newcomer settlement and a young demographic profile. • Rental demand: Brampton remains one of the GTA’s most in demand rental markets, with average asking rents rising year over year in Rentals.ca reporting throughout 2024 and 2025. Demand has remained resilient even as other markets have cooled. • Affordability pressure: Rentals.ca data shows that two bedroom units in Brampton regularly rank among the highest priced in Ontario outside Toronto, reflecting a shortage of modern, purpose built rental supply. • Limited inventory: Purpose built rentals represent a small share of Brampton’s total housing stock, with most renters relying on secondary suites or investor owned condos. This imbalance has contributed to tight vacancy rates and upward pressure on rents. • New construction momentum: After years of under building, Brampton is seeing renewed activity in the purpose built rental sector. Projects like Rose Towers are part of a growing pipeline responding to the city’s intensification goals and long term housing needs. • Younger renter base: With a median age of 36, Brampton is one of Canada’s youngest large cities — a demographic that increasingly prefers professionally managed, amenity rich rental living.
26 | Canadian Apartment | Part of the REMI Network
extensive parks and green spaces. “Together, these features create an exceptional opportunity to live, work, and play in one of Brampton’s most vibrant and evolving neighbourhoods,” Jones said. Skyline and Solmar marked the official construction kickoff on May 25th with a groundbreaking ceremony joined by numerous project partners, stakeholders, and federal and city officials. “Our government is cutting red tape and creating the conditions to speed up homebuilding across Ontario so projects like Rose Towers can get off the ground,” said Housing Minister Rob Flack in a written statement. “Our measures to remove the HST on purpose-built rentals, simplify planning and approval tools, and make the Ontario Building Code the single standard across the province are helping to get more homes built faster.”
COVER STORY >>
With construction now underway, Rose Towers is poised to become one of the most significant purpose-built rental additions in Brampton’s recent history. The multi-residential community — comprised of four high-rise buildings ranging from 26 to 30 storeys — will deliver a substantial boost to the city’s rental supply. Each tower will include ground floor retail and a full second floor of resident amenities, supporting Brampton’s vision for vibrant, mixed-use urban corridors that integrate housing, services, and community life. Brampton Mayor Patrick Brown highlighted the project’s alignment with the city’s long-term planning priorities: “Projects like Rose Towers are critical to keeping pace with Brampton’s rapid growth. Adding new rental housing along the Queen Street Corridor supports our long-term planning priorities and adds much needed rental homes in a key urban area in our city.”
“PROJECTS LIKE ROSE TOWERS ARE CRITICAL TO KEEPING PACE WITH BRAMPTON’S RAPID GROWTH.” Rose Towers will feature luxurious, open-concept suites with high-quality finishes, designed for residents seeking a comprehensive mix of indoor and outdoor amenities. The community will offer fitness centres, resident lounges, outdoor barbeque areas, and pet wash stations, along with three levels of underground parking to support long term convenience for tenants. Its location — less than two kilometres from Highway 410 — provides easy access to transit, retail, dining, and recreational amenities, aligning with renter preferences for connected, amenity rich urban living.
Skyline’s Larger Provincial Pipeline Skyline is actively expanding its rental developments across Ontario, positioning it as a major contributor to the province’s purpose-built rental supply. The numbers include: • 600+ apartments completed • 1,350 currently under construction • 3,000+ additional suites in the development pipeline across five additional communities
For more on this project, visit: www.skydev.ca
www.REMInetwork.com | May/June 2026 | 27
Climate Action at a Crossroads Navigating the complexities and challenges of decarbonization by Erin Ruddy Amid rising geopolitical tensions, economic volatility, and a pronounced retreat from ESG commitments, Desjardins Group has released its 2025 Climate Action Report and its Social and Cooperative Responsibility Report — two documents that chart the progress and setbacks of the past five years. Since announcing its ambition to reach net zero emissions by 2040, Canada’s largest cooperative financial institution has stayed the course and remained a stabilizing force in the national financial landscape, managing $524.3 billion in assets as of March 31, 2026. 28 | Canadian Apartment | Part of the REMI Network
FEATURE >>
S
till, the path has been far from smooth. Desjardins’ latest findings offer both guidance and a stark reminder of the mounting challenges building owners face as they work to deliver essential sustainability upgrades. “Even though we’ve made real and meaningful progress, these reports show the complexity and challenges of decarbonization,” said Gildas Poissonnier, Chief Sustainability Officer at Desjardins. “Above all, they show that we need to keep moving forward, using reliable data and robust tools, while still remaining attentive to the needs and circumstances of our members and clients during this transition.” While Canada has seen some pushback against ESG in the past two years, in the United States it has become a highly polarized political issue, with state level legislation restricting ESG investing, public campaigns targeting financial institutions, and explicit anti ESG mandates. Despite this resistance, Desjardins again earned MSCI’s highest ESG rating of AAA in 2025 and reported strong progress across several key areas. Specifically, renewable energy lending has increased from 28 to 73 per cent of its energy portfolio since 2020, supported by $8.3 billion in transition aligned commitments. The institution has also invested more than $2 billion in renewable energy infrastructure, while four sustainable and green bond issuances totaling $2.2 billion — including a $500 million issuance in 2025 — signaled growing momentum for green multifamily financing. Desjardins further reports a 27 per cent reduction in operational GHG intensity and a 32 per cent reduction in emissions intensity from investment and lending activities. Yet even as total assets rose by 55 per cent, financed emissions remained flat, showing that portfolio expansion has outpaced its ability to drive down total emissions.
“Our progress over the last five years has reinforced our belief that meaningful climate action requires collective effort,” the report contends. “To make real headway toward a fairer, more equitable and low carbon economy, we need a political, economic and regulatory ecosystem that is coherent and motivating — one that unites public and private sector players and keeps them moving in the same direction.” For Canadian apartment owners, Desjardins’ findings reinforce what the sector has long understood: meaningful climate action is only viable within a coordinated ecosystem that provides predictable policy, financing incentives, and technical support. For operators managing aging building stock, capital constraints, and mounting regulatory pressures, the shift to low carbon operations demands continual adjustment in an already challenging environment. As retrofit costs rise, tenant affordability pressures intensify,
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2026-05-27 4:25 PM www.REMInetwork.com | May/June 2026 | 29
FEATURE >>
“THE ENERGY TRANSITION CAN’T HAPPEN IN ISOLATION. IT NEEDS TO TAKE INTO ACCOUNT ECONOMIC AND OPERATIONAL REALITIES. ”
and provincial regulations evolve, alignment across policy, finance, and technical capacity is becoming increasingly essential. Desjardins’ CEO Denis Dubois underscored this need, stating, “The energy transition can’t happen in isolation. It needs to take into account economic and operational realities. It means we’ll need to make important decisions and continually adjust in an environment that is still demanding.”
Collaboration as a climate strategy
While decarbonization is proving slower and more complex than anticipated — especially as portfolios grow — reliable data and standardized tools remain critical for tracking emissions across diverse building types. At the same time, Desjardins emphasizes the need for collaboration across public, private, and non-profit sectors to scale affordable, low carbon housing, even as green financing mechanisms — from sustainable bonds to blended capital funds — become increasingly central to rental housing development and retrofits.
30 | Canadian Apartment | Part of the REMI Network
“We’re determined to continue incorporating ESG factors into our activities and products because we believe they’re a source of more sustainable growth,” the report adds — signaling that capital providers will increasingly expect, and reward, credible climate strategies, transparent reporting, and investments in resilient, efficient buildings. Recently, the group has advanced several collaborative initiatives with direct relevance to housing, including Décarbone+, developed with partner institutions to help businesses understand and reduce emissions; a $400,000 investment with Cycle Momentum to support climate tech start-ups emerging from Quebec universities; and the Amplifier Fund, a $50 million partnership with the Société d’habitation du Québec and six foundations to expand affordable rental housing with a low environmental footprint. It also launched partnerships for renewable energy and storage projects with First Nations and regional alliances, as well as supported the installation of 477 EV charging stations across Quebec and Ontario, reflecting infrastructure shifts that will be increasingly expected in modern rental communities. Taken together, these findings point to a sector-wide inflection point. As financial institutions maintain, or even sharpen, their climate commitments and governments advance new regulatory expectations, rental housing providers will increasingly operate in an environment where low carbon performance is tied to both risk management and access to capital. Desjardins’ 2025 reporting makes clear that progress is possible when policy, financing, and technical capacity move-in alignment — and the path forward will depend on sustained collaboration, predictable frameworks, and continued investment in resilient, efficient buildings. s
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NEWSWORTHY >>
Industry hot topics Gairloch breaks ground on new rental property in the Junction
G
airloch Developments has officially broken ground on 3239 Dundas Street West, a new purpose-built rental community in Toronto’s Junction neighbourhood. Designed by Batay Csorba Architects, the project marks the launch of a broader long term rental housing strategy across the city, with additional communities planned for 1802 Bayview Avenue and 1650 Dupont Street. 3239 Dundas Street West brings together a full modular precast structural and exterior envelope system, sustainable high-performance building design, and innovative heating, cooling, and hot water technologies to create a contemporary rental community centered on durability, efficiency, and long-term livability. Paired with advanced mechanical systems and a high performance envelope, the company says the project reflects a forward-looking model for sustainable urban rental housing. “This project reflects our belief that purpose-built rental housing should be designed with the same level of care, quality, and architectural ambition as any residential development in the city,” said Bill Gairdner, President of Gairloch Developments. “3239 Dundas Street West represents a long-term investment in design, sustainability, and the future of rental living in Toronto.” Gairdner added that the heart of the Junction, the development benefits from strong transit connectivity, a vibrant retail and dining scene, and an established residential community — positioning it well for long-term urban renters seeking both convenience and design quality.
Yukon to accelerate major infrastructure projects
T
he Yukon government has partnered with Canada on a $350-million investment that will deliver more housing and infrastructure across the territory. The first agreement is for nearly $157 million under the Build Communities Strong Fund. The Yukon will receive up to $82.4 million to support 32 | Canadian Apartment | Part of the REMI Network
infrastructure projects related to housing and post-secondary education over 10 years, as well as up to $74.5 million in health infrastructure funding over three years. Upgrades will target housing supply, including water and wastewater systems, roads and bridges and community infrastructure. It will also help with building and renovating learning and research spaces, as well as hospitals and long-term care facilities. The second agreement is with Yukon Housing Corporation (YHC) to build up to 500 new homes for rent-geared-to-income clients and essential workers in the community. The federal government is investing $100 million and the YHC is contributing $93 million to deliver both public-housing units owned and operated by YHC and partner-led units constructed by community housing developers. The governments say the goal is to accelerate construction timelines and improve efficiency, while prioritizing Canadian-made materials and products. The initiative also supports the integration of supportive and transitional housing, which will help to address homelessness and provide housing stability for vulnerable people.
NEWSWORTHY >>
Urban living meets ecological immersion at Ookwemin Minising
P
lans for Toronto’s waterfront redevelopment are well underway, including for the new island community of Ookwemin Minising, formerly known as Villiers Island. Spanning 98 acres in total, the project is not only a major engineering achievement but also a meaningful step in reconciliation as the city works to create one of its most significant future residential neighbourhoods.
The island was created through the $1.4 billion Port Lands Flood Protection project, which rerouted and naturalized the mouth of the Don River. Originally designed to protect nearly 500 acres of land from catastrophic flooding, the effort has since evolved into a long-term vision for a new urban district. The City of Toronto’s updated Development Concept Plan, released in April, outlines a “complete, mixed-income community” with up to 12,000 new homes, including thousands of rental units and a major commitment to affordability. Across the island, the design emphasizes green corridors, pedestrian-first streets, open public spaces, and climate resilient infrastructure. Homes will sit steps from restored natural habitats, creating what Waterfront Toronto describes as a “rare blend of urban living and ecological immersion.” “Ookwemin Minising is about creating a complete, green, and livable neighbourhood,” said Pina Mallozzi, Senior Vice President, Design, Waterfront Toronto. “We’re combining more housing, including thousands of affordable homes, with green public spaces, people-first streets, and a design that reflects the island’s history and ecology. The result is a community with a strong and unique sense of place.” Of the roughly 12,000 homes envisioned, about 10,000 will be built on publicly owned land, supporting the council-approved target of 30 per cent affordable rental housing on public lands. Rental housing will play a major role, with thousands of purpose-built rental units — including affordable homes delivered through partnerships with both market and non-profit housing providers. The island’s few privately owned parcels are also expected to contribute affordable rental units through community benefits agreements and negotiated planning approvals. “This is a once in a generation opportunity to build a new community that is inclusive, sustainable, and affordable,” said Deputy Mayor Jennifer McKelvie. “We are ensuring that people of all incomes will be able to call this new neighbourhood home.”
www.REMInetwork.com | May/June 2026 | 33
NEWSWORTHY >>
Move-in incentives now the norm in major Canadian rental markets
A
s vacancy rates rise and rents ease across several major markets, move-in incentives are becoming increasingly common, reshaping how renters search for homes and how property managers compete for tenants. New analysis from Rentals.ca and Urbanation shows that approximately one in five rental listings in major markets such as Toronto and Vancouver now includes some form of incentive, ranging from free rent to cash bonuses. This surge in incentives reflects a market adjusting to increased supply and shifting demand. According to Shaun Hildebrand, President of Urbanation, incentives have become far more prevalent as vacancy rates climb and competition intensifies. “For renters, these promotions can represent meaningful savings and improved affordability, while for property managers, incentives are increasingly being used as a competitive tool to attract tenants and complete lease-ups in a softer market environment,” he said. Common offerings now include free rent, reduced parking fees, internet packages, gift cards, and cash bonuses. The trend is especially pronounced in the Greater Toronto and Hamilton Area (GTHA), where a surge in new supply — combined with heightened competition from condo rentals — has created more challenging lease up conditions. In Q1 2026, 66 per cent of newly completed purpose-built rental projects offered incentives, up sharply from 32 per cent two years earlier. The most common incentive was two months of free rent, offered by 47 per cent of projects, compared with 32 per cent in Q1 2025. On average, incentives reduced effective rents
by 13 per cent, equivalent to $379 per month, up from $292 in 2025 and $163 in 2024. These shifts illustrate how quickly incentives have evolved from occasional perks to standard practice in many new developments. A similar pattern is emerging in Ottawa, where rising vacancies are driving deeper discounts. The vacancy rate for stabilized purpose-built rentals reached 3.2 per cent in Q1 2026, double the level from two years earlier. While average asking rents held steady at $3.28 per square foot, incentive adjusted rents fell to $2.91 per square foot, representing an 11.4 per cent discount. The widening gap between face rents and effective rents underscores how incentives are quietly reshaping affordability in markets where supply has caught up with demand. For renters, the rise of incentives represents a rare moment of improved leverage in a market that has long favoured landlords. For property managers, these offerings have become an essential competitive tool — particularly in regions experiencing substantial new supply. As Canada’s rental market continues to rebalance, incentives are poised to remain a defining feature of the leasing landscape. To explore the full analysis, visit Rentals.ca.
B.C. leads Canada in lowering residential rents
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enters across British Columbia are experiencing meaningful cost of living improvements as the province records the largest year-over-year decline in asking rents in Canada. At the same time, construction of new rental housing is accelerating at unprecedented levels, marking a significant shift in a market long defined by scarcity and rising prices. According to new data from the province, the average asking rent in B.C. has fallen 12.5 per cent between August 2023 and April 2026 — from $2,671 to $2,338. This represents a $333 monthly reduction, saving renters nearly $4,000 per year. “In the face of a national out of control housing crisis, here in B.C. we are taking on wealthy speculators, protecting renters from eviction and turning vacant units back into homes for people,” commented Premier David Eby. “Our plan is leading the country in results. Rent prices are down, rental home construction is up, and we’re building faster by removing roadblocks to
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NEWSWORTHY >>
construction. There’s more to do. Keeping this momentum and delivering even more is our priority.” Provincial analysis suggests that without certain government interventions, asking rents in B.C. today would be hundreds of dollars higher, leaving renters with fewer options and less negotiating power. A major contributor to the improved rental landscape is the rapid expansion of purpose-built rental housing. In Burnaby, BC Builds has just broken ground on nearly 820 new rental homes, adding to a pipeline of projects designed to increase supply quickly and affordably. Meanwhile across the province, purpose-built rental registrations reached more than 26,000 in 2025, compared to an average of just 2,500 per year from 2007 to 2016. Metro Vancouver’s vacancy rate has risen from 0.9 per cent in 2023 to 3.7 per cent, giving local renters more choice and leverage. Since 2017, the province has implemented a suite of measures aimed at returning vacant units to the rental market and accelerating construction. These include: introducing taxes targeting speculation and empty homes; stronger protections against evictions; zoning reforms to allow more housing types; and streamlined permitting to reduce delays. In 2023, the Homes for People action plan intensified these efforts, introducing new tools to address short term rentals, outdated zoning rules, and red tape that slowed construction.
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Toronto rail corridor eyed for development If approved, an ambitious plan led by LiUNA’s pension fund and Fengate would create 6.3 acres of mixed-use development above an active Toronto rail corridor by the mid-to-late 2030s. The Toronto Rail Yards project envisions 4,000 homes, a 915,000‑sq‑ft office tower, retail space, and two acres of parkland, with work beginning in 2028 and phased development alongside a new GO station at Front and Spadina. Esentially, the project would be similar to Hudson Yards in New York, bringing transit‑oriented, low‑carbon growth to the city’s downtown core while generating thousands of construction jobs. www.REMInetwork.com | May/June 2026 | 35
ASK THE EXPERT >>
From Leases to Loyalty How to turn rental housing into lasting homes By Ellen O’Connor, Ferguslea Properties Rental housing providers across Canada face an all-too common challenge: turnover is expensive. Every move-out triggers vacancy loss and a cascade of costs tied to marketing, staffing, leasing incentives, cleaning, and repairs. As renter mobility increases, expectations have shifted. In 2026, renters are not just comparing prices — they are comparing lifestyles. They want flexibility, convenience, and access to wellness. They want homes that support how they live, work, and socialize.
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ong-term renter loyalty is not accidental. It is the result of intentional investments in lifestyle infrastructure, year round programming, and community-building strategies that evolve with residents’ needs. At Accora Village, Canada’s largest privately-owned rental community, retention is a core objective — not as a marketing tactic, but as an operational strategy. In an era when moving every year feels normal, the question becomes: what actually keeps renters in place? 36 | Canadian Apartment | Part of the REMI Network
Understanding the resident experience
Traditional retention tools, such as renewal incentives or small lease perks, do add value but they’re failing to accomplish what they used to. Renters now evaluate their housing through a broader lens; they look at convenience, access to wellness, social connection, and overall stability. Young professionals, families, and long-term renters alike are increasingly choosing “stayability” over ownership. In other words, the ability
to walk to amenities, maintain a fitness routine, or build friendships within their community can matter more than upgrading to a slightly larger unit elsewhere. This signals a broader industry shift: retention is no longer just operational — it is a resident experience strategy. Communities with stronger long-term tenancy treat rental housing as an evolving lifestyle platform rather than simply a housing product.
ASK THE EXPERT >> Lifestyle infrastructure that evolves
Amenities can no longer exist just to fill space in a brochure. When designed intentionally, they become powerful retention tools. For instance, on-site fitness facilities remove barriers and help residents build and maintain positive habits. They eliminate the need for a gym commute or extra membership fees, and they foster a stronger sense of attachment to the community. When a resident’s weekly fitness class is just steps from their front door, the idea of moving becomes far less appealing. The same can be said about multi-season recreational programming and social spaces that build connection. Canadian winters can increase social isolation, making the colder months critical for engagement. Indoor recreational sports, wellness workshops, and winter-friendly activities help residents stay connected year round, reducing seasonal dissatisfaction and strengthening community bonds. Recreational trends like pickleball show how low barrier activities can drive engagement, bringing neighbours together in a relaxed setting. These shared experiences create familiarity and connection, two factors that strongly influence renewal decisions.
Community engagement as a strategy
Retention deepens when property management shifts from a transactional to a relational approach. A structured programming calendar and organized activities provide consistency and foster neighbour-to-neighbour interaction. Regular communication and resident feedback loops signal that management is listening, which builds trust. Research consistently shows that residents who form friendships within their community are significantly less likely to relocate. For operators, community-building should be measured like any other KPI. Participation rates in programs and events can be tracked alongside occupancy and renewal rates. Over time, engagement often correlates with stronger long-term tenancy.
Stability as a competitive advantage
From a renter’s perspective, staying put has real value. It saves money, eliminates the stress of moving, and preserves the routines that support daily life. For families, stability also means maintaining school continuity and neighbourhood connections. For operators, the benefits are equally
compelling. Lower turnover reduces marketing spend and vacancy loss, while more predictable occupancy strengthens operational planning. Over time, communities that demonstrate consistently strong renewal rates also build greater investor confidence, reinforcing stability as a true competitive advantage. Broader rental housing trends also point toward a rise in long-term renters by choice. Renting is increasingly viewed as a permanent housing model rather than a temporary phase. In this environment, stability itself becomes a competitive advantage.
The bottom line
High turnover is costly, but it isn’t always inevitable. Rental communities that prioritize lifestyle integration, year-round engagement, wellness accessibility, and social infrastructure are positioning themselves for stronger renewal rates and long-term stability. As rental housing continues to evolve through 2026 and beyond, the housing providers who succeed will be those who recognize a simple truth: leases do not drive retention — lived experience does.
Ellen O’Connor is the Marketing & Leasing Manager at Accora Village (Ferguslea Properties), Canada’s largest privately owned rental community.
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Smart Ideas
TOOLS DRIVING THE NEXT WAVE OF COMPLIANCE INNOVATION From embedded tenant insurance to AI-powered code navigation, new platforms are reshaping how the rental and development sectors manage regulatory requirements. RentCafe Integrates Tenant Insurance
Yardi has expanded its RentCafe Renter Essentials offering through a strategic partnership with APOLLO Insurance, enabling residents in Canada to purchase or upload tenant insurance directly within the RentCafe leasing workflow. According to Yardi, the integration “enhances resident financial well-being and gives property managers a streamlined, real-time view of insurance compliance across their portfolios.” RentCafe Renter Essentials brings together products and services residents need throughout their tenancy, delivered by Yardi or select partners. With the APOLLO integration, residents can now upload proof of insurance or purchase a policy without leaving the RentCafe environment, reducing friction and improving compliance visibility for property managers. Jeff McCann, founder and CEO of APOLLO Insurance, described the partnership as “a major milestone,” emphasizing that embedding tenant insurance directly into the leasing process simplifies the experience for both residents and operators, making compliance easier than ever. For more info, visit: www.yardi.com
AI Platform Brings Clarity to Canada’s Regulatory Maze
Navigating Canada’s building codes, fire codes, and municipal zoning bylaws is notoriously complex — even for professionals who work with them daily. Lawtonica, a regulatory technology platform launched in 2025, aims to change that by making compliance faster, clearer, and easier to manage. According to Walelign Sumoro, CMO and co-founder, Lawtonica is a zoning, building code, and compliance workflow platform designed to help users understand regulations, organize project research, and work through compliance faster. The platform consolidates municipal zoning bylaws, provincial codes, national codes, and project-based tools into a single environment. Users can read full documents in the Code Library, browse extracted diagrams, ask document-specific questions, compare code versions, and collaborate in shared project workspaces. The concept first emerged at Queen’s University in 2025, where Sumoro and his teammates developed early AI tools to simplify access to Kingston’s bylaws. Their prototype won the Kingston Mayor’s Innovation Challenge, highlighting a clear need for more accessible regulatory information. Today, Lawtonica is expanding its platform for architects, planners, builders, consultants, municipalities, landlords, homeowners, and anyone who needs to navigate zoning and code requirements more efficiently. For more info, visit: www.lawtonica.ca 38 | Canadian Apartment | Part of the REMI Network
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