HomeStretched: Tackling Ontario's Housing Affordability Crisis Through Innovative Solutions and Partnerships
July 5, 2023 - Today, the Ontario Chamber of Commerce (OCC) released, HomeStretched: Tackling Ontario's Housing Affordability Crisis Through Innovative Solutions and Partnerships, outlining opportunities for the private, public, and non-profit sectors to explore innovative partnerships and approaches to address housing affordability and supply, and recommendations to build on successful models. The OCC report is in partnership with Desjardins, Cadillac Fairview, and the Federation of Rental-housing Providers of Ontario.
February 9, 2023 - A report released with our partners Building Industry and Land Development Association (BILD), Urbanation Inc., and Finnegan Marshall Inc. shows that the GTA needs more than 300,000 new rental homes in the next decade and makes recommendations to government to incent construction.
Ontario Rental Market Study Update - Revisiting the Rental Demand & Supply Outlook in 2022 and Beyond
May 18, 2022 - In light of changing market dynamics following COVID-19, Urbanation and FRPO undertook a study that presents an updated assessment of current conditions and the outlook for rental demand and supply in Ontario. The updated study concluded that under the current regulatory environment and growth trajectory for rental construction in the province, the projected gap between rental housing demand and new supply delivered from purpose-built units and secondary condo rentals will grow to approximately 236,000 units over the next 10 years.
May 18, 2022 - Altus Group examined the feasibility of a baseline purpose-built rental development in two major urban areas, the City of Toronto, and the City of Ottawa, including market rent scenarios and scenarios with affordable components. In the City of Toronto, using a typical 3.5% cap rate, the market rent scenario had a 5% loss when comparing the cost of development to the value of the building once complete. The scenario with 10% of the units at affordable rents yielded a 7% loss for the developer.
May 5, 2022 - Altus Group Economic Consulting was retained FRPO to compare the cost of homeownership to rental housing in seven (7) municipalities across southern Ontario. This report compares the monthly cost of owning versus renting, with two unit types used as the basis for the comparison a two-bedroom apartment unit and a townhouse unit.
October 15, 2020 - On behalf of the Federation of Rental-housing Providers of Ontario, I am providing our industry’s formal submission for consideration in the upcoming provincial budget. Our recommendations include measures arising from the current pandemic as well as longstanding policy issues within the rental housing sector.
September 15, 2020 - Urbanation was retained by FRPO to provide an updated assessment of current rental market conditions and trends in Ontario. This report is a follow-up to studies Urbanation completed for FRPO in September 2017 and January 2019 that provided a framework for measuring the gap in the marketplace between the demand and supply of rental apartments across the province. The intention of these studies is to raise awareness of the present and future expected factors impacting Ontario’s rental market, and the need to target a greater amount of rental construction to meet the level of demand for new units
February 15, 2019 - Urbanation was retained by FRPO to provide an assessment of current rental market conditions and trends in Ontario. This report is a follow-up to a study Urbanation completed for FRPO in September 2017 that provided a framework for measuring the gap in the marketplace between the demand and supply of rental apartments. The study's intention was to raise awareness of the present and future expected factors impacting Ontario’s rental market, and the need to encourage a much stronger amount of rental construction to meet the demand for new units.
October 12, 2018 - FRPO retained Urbanation to undertake a research study that measures the changing demographic profile of renters in Ontario. Over the last several years, the rental market in Ontario has experienced its fastest growth in demand in decades. At the same time, however, supply growth has remained relatively stagnant. As a result, shifts in the profile of demand have mostly occurred within the existing older stock of rentals or new supply mostly represented by condominiums.
October 3, 2017 - FRPO retained Urbanation to undertake a research study that measures the importance of vacancy decontrol for the Ontario rental housing industry and the overall economy through the encouragement of renovation expenditures and the upkeep of the existing rental stock
September 25, 2017 - Rental demand in Ontario has reached multi-decade highs, driven primarily by robust economic and population growth, job creation for prime renter cohorts, and a decline in homeownership affordability. At the same time, supply growth for rentals has been almost entirely comprised of secondary units offered by investors in the condominium market. Purpose-built vacancy rates have fallen to a 15-year low of 2.1% across the province and 1.3% in Toronto as of 2016, with condo vacancy rates in Toronto dropping to a seven year low of 1.0%.
August 1, 2017 - FRPO welcomes the opportunity to provide comments on Bill 139 – Building Better Communities and Conserving Watersheds Act, 2017 as introduced by the Minister of Municipal Affairs on May 30th of this year. Our interest is focused specifically on changes to the Ontario Municipal Board (OMB) and the effect that they will have on the overall land use planning approvals system, and the impact that such change could have on the supply of rental housing in Ontario.
May 9, 2017 - The creation of more affordable housing can only be achieved by encouraging more supply and the development of new housing. Building more rental housing in Ontario will create more affordable housing in Ontario. More supply means lower rents and more choices for Ontario tenants. Less supply means less choice and less housing options.
April 5, 2017 - The Federation of Rental-housing Providers of Ontario (FRPO) appreciates the opportunity to provide input into the government’s proposed amendment to O. Reg. 516/06 under the Residential Tenancies Act, 2016. The rental housing sector in Ontario is active in the provision of energy efficiency. Rental housing invests approximately $2.8 billion a year on energy retrofits, maintenance and capital repairs that improve the energy efficiency of multi-residential buildings.
December 19, 2016 - The Federation of Rental-housing Providers of Ontario (FRPO) welcomes the opportunity to comment on the Ontario government’s review of the Ontario Municipal Board (OMB). FRPO’s members believe that some of the proposed changes to the OMB will have unintended consequences by further complicating the land development process, resulting in more delays and costs. Any changes at the OMB that will lengthen the review process, will result in less affordable housing for those who are most in need.