The Rent Report

In this month's Data Dive, David Aizikov and Giacomo Ladas join us to take a closer look at the latest National Rent Report by Urbanation and Rentals.ca, unpacking the trends behind the headlines and what they signal for Canada's rental market. Rents have now declined on an annual basis for 18 consecutive months, and the market is on the verge of a milestone: average asking rents are edging back below $2,000 a month nationally, effectively reversing three years of rent inflation. But as this episode explores, falling rents aren't entirely good news. With youth unemployment approaching 15% and real wages for young Canadians declining after inflation, softening rents are as much a signal of economic strain as they are a win for affordability. The conversation also tackles the big supply question: with cranes dotting skylines across the country, are we building too much? David and Giacomo argue that the narrow view says yes, but that the same short-term thinking left Canada in a 40-year construction deficit that created this crisis in the first place. The group also examines the growing pressure on small landlords, who are being forced to negotiate rent reductions and retention incentives to compete with newer, amenity-rich purpose-built rentals, all while their operating costs remain unchanged. Finally, the episode looks ahead at a looming crunch: construction starts have collapsed, but population growth is projected to return by 2027, raising the very real possibility that today's vacancy relief becomes tomorrow's supply shortage all over again. Tune in for expert insights, data-driven analysis, and a forward-looking perspective on the key indicators to watch in the months ahead.

It's often said that homeownership is one of the best investments you can make, while renting is simply "throwing your money away," but what does the actual data say? In this episode of The Rent Report, we sit down with Ben Felix (Chief Investment Officer at PWL Capital) to break down the numbers behind renting vs buying in Canada. Using data from 12 major cities over nearly two decades, Ben's research explores how renting and investing can match or even outperform homeownership and why the analysis isn't as straightforward as most people think. Ben Felix: https://www.youtube.com/@UCDXTQ8nWmx_EhZ2v-kp7QxA Renting vs Owning a Home in Canada, 2005-2024: https://pwlcapital.com/wp-content/uploads/2025/08/PWL-Capital-Renting-vs.-Owning-a-Home-in-Canada-2005-2024.pdf Rational Reminder Podcast: https://rationalreminder.ca/podcast-directory PWL Capital: https://pwlcapital.com/

Check out the latest National Rent Report: https://rentals.ca/national-rent-report In this month's Data Dive, David Aizikov and Giacomo Ladas join us to take a closer look at the latest National Rent Report by Urbanation and Rentals.ca, unpacking the trends behind the headlines and what they signal for Canada's rental market. While rents have now declined on an annual basis for 17 consecutive months, the story is far from straightforward. This episode explores emerging signs of stabilization in major markets, the impact of record-high supply alongside softening demand, and how shifting renter behaviour is influencing pricing across the country. The conversation also dives into improving affordability, the growing prevalence of smaller units, and the mounting pressures facing developers, from rising construction costs to lengthy approval timelines. Together, these factors are reshaping the rental landscape and raising important questions about what a balanced market looks like moving forward. Tune in for expert insights, data-driven analysis, and a forward-looking perspective on the key indicators to watch in the months ahead.

Max Steinman, CEO of Rentsync, and Shaun Hildebrand, President of Urbanation, discuss the recent acquisition of Urbanation by Rentsync and what the partnership means for the future of rental data and market analysis in Canada. By combining Rentsync's extensive rental listing data with Urbanation's research and analytics expertise, the two organizations aim to bring greater transparency and deeper insights to Canada's evolving rental housing market. In this episode, we also explore the current state of the rental and condo markets in the Greater Toronto and Hamilton Area. The conversation covers the recent surge of condo completions entering the rental market, why rents have softened in some markets despite strong absorption levels, and how investor-owned condo units are influencing pricing dynamics. They also discuss shifting demand patterns, the debate around micro-units versus larger family-friendly layouts, and what recent declines in condo sales and construction starts could mean for future housing supply. Finally, the discussion turns to policy and development challenges, including rising development charges, construction costs, and the broader structural supply issues facing Canada's housing market. Looking ahead, Max and Shaun share their perspectives on where the market may be headed and what developers, policymakers, and property owners should be watching in the years to come.