Recently the Toronto Star published (on March 21, 2021) a long article examining vacancy rates and average rents across the city of Toronto. You can read the article via the link below (the article might be behind a paywall). https://www.thestar.com/news/gta/2021/03/20/toronto-rents-were-supposed-to-drop-as-people-fled-the-city-during-covid-19-the-data-tells-a-much-different-story.html This article uses data gathered by CMHC and explains that in most neighbourhoods in Toronto average rents increased from 2019… Read more »
To start, let’s state the obvious: the easiest way to ensure your new rental building leases quickly and starts generating revenues as soon as possible is to ask rents which are affordable or ‘attainable’. But few, if any, developers have the luxury of asking rents that the bulk of renters can afford. The reality is that every developer, given development… Read more »
Choosing asking rents for new purpose-built rentals is one of the key tasks which developers need to get right if they want their new rentals to be successful, both in terms of being absorbed into the housing supply in a timely manner, and in terms of generating the highest possible rent revenues. If your rents are too low your building… Read more »
In my experience as a consultant developers with a new rental building either in the planning stages or under construction almost always ask three important questions. Their first question is almost always “What rents can we get?” Rents make up the bulk of revenues and if rents aren’t high enough then the proposed project might not make sense financially. The… Read more »
