2025 Ottawa Regional by Marc Cote

regional edition

OTTAWA

The regional market perspective for the Ottawa rental housing industry

2025

FOREWORD

Produced by RHB Inc., creators of RHB Magazine, RHBTV, RHB Newsreel, Perpetual Media Group (PMG) and BoldTV, theANNUAL delivers a complete market perspective for the rental housing industries of Ottawa, Hamilton, Waterloo and London. Developing a standalone resource guide with vital and practical information is never an easy undertaking. There are reasons why in-depth, analysis and forecasting aren’t done in this form and on this scale for our industry! Time, resources and industry knowledge are required to deliver a comprehensive report respecting individual regional apartment owners and managers while allowing them to respond to market needs, size and competition. What you’ll find in this Regional Edition of theANNUAL: • The State of the Industry Report, an in-depth look at the individual cities’ market conditions, based on CMHC and Stats Canada data. • Realty Check, a look at multi-family sales and purchases in each of the four regional markets, with a special showcase of notable transactions. • Association Report, from our partners at HDAA, LPMA and

EOLO, an overview of what we need to know about each city and association. • Neighbourhood Trends, data provided by Rentals.ca on tenant searches and trends. • Unpaid Rents, Openroom.ca provided comprehensive data for unpaid rent in Ontario. The industry’s first vetted report of the Top Ten, Owners, Managers and REITs for each region. This has been a labour of love. As Canada’s national voice for the apartment industry, RHB Inc. prides itself on always delivering the latest news and information that help our industry maintain a competitive advantage. Therefore, we’d like to acknowledge the following people and companies for their help gathering the information and data which enabled us to deliver this comprehensive guide: John Dickie, Chair and Spokesperson, Eastern Ontario Landlord Organization (EOLO); Daniel Chin, President, Hamilton District Apartment Association, (HDAA); Tracy Norman, President, London Property Management Association (LPMA); Rentals.ca; Openroom.ca; Yardi Canada and CTI Services. RHB Inc accepts responsibility for accurately delivering relevant news to the rental housing industry. As well, we always want to hear from you, the people who make up the rental housing industry. Let us know your thoughts on what you’ve read and what you’d want to see next year in theANNUAL, both at the National and Regional levels. All the best,

Debbie Dollar-Seldon Publisher

Publisher Debbie Dollar-Seldon Art Director Scott Clark National Director, Sales and Marketing Melissa Valentini Office Manager Geeta Lokhram Owner Marc Côté

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Opinions expressed in articles are those of the authors and do not necessarily reflect the views and opinions of the CFAA Board or management. CFAA and RHB Inc. accept no liability for information contained herein. All rights reserved. Contents may not be reproduced without the written permission from the publisher. P.O. Box 696, Maple, ON L6A 1S7 416-236-7473 Produced in Canada All contents copyright © RHB Inc. Canadian Publications Mail Product

INC.

Welcome to the 2025 Regional editions of theANNUAL. Not unlike our National edition, theANNUAL, is a special industry specific periodical, delivering relevant, timely information and data with a single-minded approach; “What does the Apartment industry need to know!” With that as our goal, our research team reviewed extensive data from numerous sources to bring you the regional editions of theANNUAL. From CMHC, Stats Canada, association executives, Government sources and apartment owners, managers & REITs, we bring you the most complete and thorough industry guide that delivers region specific information and data.

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TABLE OF CONTENTS

3 – FOREWORD

STATE OF THE INDUSTRY – 8

15 – REALTY CHECK

ASSOCIATION REPORT – 21

4 – theANNUAL Ottawa

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TABLE OF CONTENTS

29 – NEIGHBOURHOOD TRENDS

TOP 10 – 35

47 – UNPAID RENTS

6 – theANNUAL Ottawa

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Gloucester North / Orleans

Clarence-Rockland AVR: ** 2BR: $1,564

Western Ottawa & Surrounding Area

AVR: 2.0%

2 3

2BR: $2,541

AVR: 2.3% 2BR: $1,614

Nepean

Russell

AVR: 3.4%

AVR:0.0%

2BR: $1,883 Eastern Ottawa & Surrounding Area

2BR: $1,447

AVR: ** 2BR: $2,242

North Grenville AVR: ** 2BR: **

2024 population

1,153,843*

Ottawa Zone Statistics AVR: 2.1% | 2BR: $1,940 2 Sandy Hill/Lowertown: AVR: 1.9% | 2BR: $2,071 3 Glebe/Old Ottawa South: AVR: 1.8% | 2BR: $2,163 4 Alta Vista: AVR: 2.0% | 2BR: $1,697 5 Carlington/Iris: AVR: 1.7% | 2BR: $1,753 6 Chinatown/Hintonburg/Westboro N: AVR: 4.0% | 2BR: $2,175 7 New Edin./Manor Park/Overbrook: AVR: 3.3% | 2BR: $1,986 8 Westboro S/Hampton Pk/Britannia: AVR: 1.1% | 2BR: $1,670 9 Hunt Club/South Keys: AVR: 1.3% | 2BR: $1,564 10 Vanier: AVR: 3.7% | 2BR: $1,495 1 Downtown:

* refers to the Ottawa part of Ottawa-Gatineau ** Data suppressed

AVR= Average Vacancy Rate in October 2024 2BR= Average Rent of 2 Bedroom Suite in October 2024

Ottawa's Private Apartment Turnover Rates by Structure Size & Bedroom Type Bachelor Size

1 Bedroom

2 Bedroom

3 Bedroom +

Total

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

3-5 Units

10.7%

6-19 Units

10.9%

14.0%

13.5%

11.8%

13.5%

13.9%

20-49 Units

19.0%

14.7%

13.0%

10.7%

17.7%

13.7%

50-99 Units

19.9%

19.2%

16.6%

13.3%

12.7%

17.1%

15.0%

100-199 Units

18.6%

18.5%

17.7%

15.3%

13.7%

13.2%

14.5%

16.1%

14.7%

200+ Units

20.1%

19.4%

15.8%

15.9%

14.7%

9.3%

9.9%

17.6%

15.4%

Total

18.6%

18.0%

15.2%

14.3%

13.4%

11.2%

16.5%

14.5%

8 – theANNUAL Ottawa

** Data suppressed

Number of Primary Apartment Units Bachelor

6,305

1 Bedroom

33,815

2 Bedroom

35,136

3 Bedroom + 3,207 Total

78,463

Primary Apartment Vacancy Rates Bachelor

2.4%

1 Bedroom

2.4%

2 Bedroom

2.9%

3 Bedroom + 1.7% Total

2.6%

Primary Apartment Average Rents Bachelor

$1,253

1 Bedroom

$1,522

2 Bedroom

$1,880

3 Bedroom + $2,191 Total

$1,673

theANNUAL Ottawa – 9

Ottawa

State of the Industry Primary Market Defined

Secondary Market Defined

The primary rental market consists of apartment buildings of 3 units or more, and rental row house or garden home complexes of 3 units or more.

The secondary rental market consists of rented condos, single family homes, doubles, duplexes or other buildings of two units or fewer (such as a single family home with an accessory suite).

Ottawa’s primary and secondary rental market universe totals

Primary

Secondary

78,463

45%

95,899

55%

Total: 174,362 *Secondary figure estimate based on growth rate

Important things to know about Ottawa’s condo market

2023 Total condo units

2024

37,175 37,992

Total condo units used for 11,117 10,926 rental Percent of condo units used for rental

29.9% 28.8%

Average Rent

$2,107 $2,199

Vacancy Rate

0.4%

0.5%

theANNUAL Ottawa – 11

Info

Alta Vista

1 Bedroom

2 Bedroom

3 Bedroom +

Survey Date

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Vacancy Rate

2.8%

2.1%

4.8%

1.8%

5.9%

2.0%

5.2%

2.0%

Average Rent

$1,152

$1,189

$1,313

$1,405

$1,590

$1,697

$1,965

$2,114

$1,451

$1,544

Info

Carlington/ Iris

Chinatown/ Hintonburg/ Westboro N

Survey Date

Eastern Ottawa & Surrounding Area

Glebe/ Old Ottawa South

12 – theANNUAL Ottawa

Oct 24

2 Bedroom

3 Bedroom +

Oct 23

Oct 24

Total Oct 23

Oct 24

1.3%

0.9%

2.1%

0.8%

1.4%

0.0%

0.9%

1.7%

$1,084

$1,210

$1,232

$1,435

$1,488

$1,753

$1,549

$2,061

$1,344

$1,586

Info

Bachelor

1 Bedroom

2 Bedroom

3 Bedroom +

Total

Survey Date

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Vacancy Rate

0.5%

3.7%

1.0%

3.3%

1.8%

0.0%

1.2%

4.0%

Average Rent

$1,227

$1,255

$1,522

$1,603

$2,062

$2,175

$2,406

$2,521

$1,693

$1,749

Survey Date

Bachelor Oct 23

Oct 24

1 Bedroom

2 Bedroom

3 Bedroom +

Oct 23

Oct 24

Total Oct 23

Oct 24

Vacancy Rate

3.0%

1.5%

2.8%

2.7%

3.2%

1.6%

0.4%

2.9%

2.1%

Average Rent

$1,151

$1,242

$1,473

$1,521

$1,872

$1,940

$2,186

$2,338

$1,527

$1,598

Info

Bachelor

1 Bedroom

2 Bedroom

3 Bedroom +

Total

Survey Date

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Vacancy Rate

4.4%

1.0%

3.2%

1.0%

Average Rent

$1,357

$1,225

$1,932

$1,440

$2,242

$2,846

$1,420

$2,202

Info

Bachelor

1 Bedroom

2 Bedroom

3 Bedroom +

Total

Survey Date

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Vacancy Rate

0.0%

0.8%

0.7%

2.1%

1.8%

0.0%

1.8%

Average Rent

$1,223

$1,361

$1,512

$1,745

$1,933

$2,163

$1,941

$2,212

$1,669

$1,898

Bachelor

1 Bedroom

2 Bedroom

3 Bedroom +

Total

Survey Date

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Vacancy Rate

1.7%

0.7%

1.4%

1.5%

1.2%

1.3%

Average Rent

$1,057

$1,286

$1,304

$1,505

$1,564

$1,912

$1,413

$1,430

Info

Nepean

Oct 23

1 Bedroom

Average Rent

Info

Hunt Club & South Keys

Bachelor

Total

Vacancy Rate

Info

Downtown

Bachelor

1 Bedroom

2 Bedroom

3 Bedroom +

Survey Date

Oct 23

Bachelor Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Total Oct 24

Vacancy Rate

1.4%

3.0%

2.7%

4.6%

2.2%

2.7%

0.8%

3.3%

2.3%

3.4%

Average Rent

$1,350

$1,505

$1,440

$1,590

$1,613

$1,883

$1,783

$1,906

$1,547

$1,766

** Data suppressed

Gloucester North and Orleans

1 Bedroom

2 Bedroom

3 Bedroom +

Survey Date

Info

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Vacancy Rate

3.9%

5.9%

1.9%

2.0%

0.6%

2.1%

0.0%

3.0%

1.2%

2.3%

Average Rent

$1,123

$1,241

$1,397

$1,488

$1,538

$1,614

$1,699

$1,706

$1,477

$1,542

Info

North Grenville

Overbrook, Manor Park, and New Edinburgh

Western Ottawa & Surrounding Area

Westboro S/Hampton Park/ Britannia

** Data suppressed

1 Bedroom

2 Bedroom

3 Bedroom +

Total

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Vacancy Rate

Average Rent

Info Survey Date

Bachelor Oct 23

Oct 24

1 Bedroom

2 Bedroom

3 Bedroom +

Oct 23

Oct 24

Oct 23

Oct 24

Total Oct 23

Oct 24

Vacancy Rate

1.5%

0.4%

1.8%

2.9%

1.5%

4.6%

0.0%

0.4%

1.5%

3.3%

Average Rent

$1,026

$1,095

$1,391

$1,567

$1,752

$1,986

$2,185

$1,587

$1,768

1 Bedroom

2 Bedroom

3 Bedroom +

Survey Date

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Vacancy Rate

0.9%

1.4%

1.7%

1.8%

5.3%

1.8%

1.9%

Average Rent

$1,169

$1,256

$1,468

$1,609

$1,895

$2,071

$2,573

$2,662

$1,601

$1,755

Info

Bachelor

1 Bedroom

2 Bedroom

3 Bedroom +

Total

Survey Date

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Vacancy Rate

0.0%

1.5%

1.6%

3.1%

1.5%

1.4%

2.0%

Average Rent

$1,765

$1,861

$2,064

$2,103

$2,710

$2,541

$3,148

$2,370

$2,378

Info

Vanier

Bachelor

Total

Survey Date

Info

Sandy Hill/ Lowertown

Bachelor

1 Bedroom

2 Bedroom

3 Bedroom +

Survey Date

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Vacancy Rate

1.9%

1.7%

1.9%

0.6%

1.8%

3.7%

Average Rent

$1,071

$1,239

$1,224

$1,298

$1,347

$1,495

$1,836

$1,435

$1,432

Info

Bachelor

Total

1 Bedroom

2 Bedroom

3 Bedroom +

Survey Date

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Oct 24

Oct 23

Total Oct 24

Vacancy Rate

0.6%

1.2%

1.0%

1.3%

0.8%

0.9%

1.1%

Average Rent

$1,108

$1,164

$1,311

$1,380

$1,567

$1,670

$1,808

$1,819

$1,419

$1,490

theANNUAL Ottawa – 13

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Realty Check

The transactions of note in:

Ottawa & Surrounding Areas

theANNUAL Ottawa – 15

Ottawa

Realty Check 211 Besserer St & 256 Rideau St, Ottawa Purchaser:

Aima Byward Markey GP Inc

Units:

Price

$183,000,000

Price per Suite: ** Date Closed:

1 - 7, 12 - 26 Woodfield Dr & 30 - 72 Chesterton Dr, Nepean Purchaser:

Ottawa Community Housing Corp

Units:

October 30, 2024

Price

$86,000,000

Price per Suite: ** Date Closed:

February 15, 2024

514 - 518, 530 & 532 Rochester St, Ottawa Purchaser:

CAPREIT Apartments Inc

Units:

144

Price

$78,500,000

Price per Suite: $545,139 Date Closed:

2604 Draper Ave, Ottawa Purchaser:

OML Residences Ltd

Units:

July 29, 2024

Price

$60,244,756

Price per Suite: ** Date Closed:

July 12, 2024

** Data not available

theANNUAL Ottawa – 17

Realty Check 91 Valley Stream Dr, Nepean Purchaser:

Homestead Land Holdings

Units:

Price

$44,986,400

Price per Suite: ** Date Closed:

330 Metcalfe St, Ottawa Purchaser:

330 Metcalfe Inc

Units:

129

August 21, 2024

Price

$26,160,000

Price per Suite: $202,791 Date Closed:

June 20, 2024

417 Nelson St, Ottawa Purchaser:

Alignvest Student Housing

Units:

Price per Suite: ** Date Closed:

2935 Richmond Rd, Ottawa Purchaser:

2935 Richmond Rd Ltd

Units:

125

Price per Suite: $180,000 Date Closed:

June 21, 2024

** Data not available

18 – theANNUAL Ottawa

February 26, 2024

Price

$22,500,000

Price

$24,000,000

Recent Realty Transactions 173 Cooper St, Ottawa Purchaser:

173 Cooper Inc

Units:

112

Price

$21,840,000

Price per Suite: $195,000 Date Closed:

525, 545 & 555 Recolte Private, Ottawa Purchaser:

CAPREIT Apartments Inc

Units:

June 20, 2024

Price

$21,000,000

Price per Suite: $388,889 Date Closed:

July 8, 2024

146 Stewart St, Ottawa Purchaser:

146 Stewart St Inc

Units:

Price

$11,400,000

Price per Suite: $228,000 Date Closed:

131 Parkdale Ave, Ottawa Purchaser:

11414801 Canada Inc

Units:

September 3, 2024

Price

$10,625,000

Price per Suite: $247,093 Date Closed:

October 24, 2024

** Data not available

theANNUAL Ottawa – 19

Association Report

theANNUAL Ottawa – 21

Association Report

In 2025, the most significant change affecting rental housing providers at the City of Ottawa is the new four-year program to reduce multi-residential property taxes. The City also adopted a new water billing program to begin in April 2026. The City is one year into its four-year mandatory phase-in of green bins in multi-residential properties. Elections took place at both the federal and provincial levels of government, which changed the representatives Ottawa has in those governments to some degree. Coming up will be a new Zoning By-law, consideration of an anti-renoviction by-law, and decisions on a new City landfill or a Waste-to-Energy facility.

National News Nationally, the Canadian Federation of Apartment Associations (CFAA) has restructured and taken a new name. Now known as Rental Housing Canada, the industry’s government relations group at the federal level is now led by a board consisting of rental housing owners

22 – theANNUAL Ottawa

and operators, with an Advisory Council of Canada’s apartment associations, including the Eastern Ontario Landlord Organization (EOLO) and other associations, many of which were formerly members of the CFAA, and also provided directors for CFAA.

Property tax decreases to take effect in 2025 2028 EOLO has been working on the multi-residential tax policy issue in the City of Ottawa since our inception as an association in 1990. We have worked with tenants, experts, and City Councillors of all political views. Finally, with Council’s adoption of a four-year plan beginning in 2025, we should see a multi-residential tax ratio of 1.0. This will mean that tenants and homeowners will pay the same tax rates on their dwellings. (Homeowners will pay their taxes directly to the City and tenants will pay their taxes through the rent they pay their landlords, which their landlords pay to the City). EOLO’s landlord members own and manage close to 40,000 residential rental units in the City of Ottawa, most of them in the multi-residential tax class, with 7 or more units on each roll number.

For reasons that are buried deep in the past, over many decades before 1990, multi-residential properties came to be taxed at significantly higher tax rates than residential properties. Economists are clear that differential property taxes are ultimately paid by the users of the properties through their rents. That was also the conclusion of the Ontario Fair Tax Commission appointed by the Ontario government in 1990, and the City of Ottawa’s Task Force on Property Taxes which reported in 2001. In Ottawa, in 2024, tenants currently pay municipal property taxes at a rate 41% higher than the rate that homeowners pay, through a tax ratio of 1.41 (rounded). This disparity is unfair on its face. Numerous studies have found the disparity to be unjustified. The Province recognized that the fair rate for tenants was the same as the rate for homeowners when it set the education property rate at the same rate for both. The Province also set the target for municipalities at a nearly equal tax rate when it set the band of fairness (i.e. the target) for the multi-residential tax ratio at between 1.0 and 1.1. From the inception of rent control in 1975, it has operated on a “cost pass-through system”. Under that system, landlords have been allowed to apply for above-guideline rent increases to recover unusual increases in property taxes. In 1997, when the provincial government reformed property taxes to make the tax discrepancies visible, it also provided for all but very minor tax decreases to be passed through to tenants automatically, without the need for any action by tenants.

The situation in 2025 In Ottawa this year, City Council faced a choice. If Council had made no adjustment to the multi-residential tax ratio, landlords will be able to apply to raise rents above the guideline to recover the extraordinary property tax increase, along with the substantial increase in the solid waste charge which took effect on April 1. That would have increased many tenants’ rents, and reduced affordability. Alternately, Council had the ability to adopt the recommendation of the staff report, and by doing that, eliminate the above-guideline rent increase, and produce a modest rent reduction for tens of thousands of tenants. Geoff Younghusband of Osgoode Properties, and John Dickie, EOLO Chair, spoke at the Finance and Economic

Development Committee on April 1 ,2025, to urge Councillors to adopt the recommendation of the staff report, which called for a decrease in the multi-residential tax ratio to trigger modest rent reductions, and thus improve rental affordability. On April 16, 2025, City Council voted to approve the proposed four-year plan to reduce the multi-residential tax ratio to 1.3 in 2025, to 1.2 in 2026, to 1.1 in 2027 and to 1.0 in 2028. (City Finance staff is to review the situation if there is a province-wide reassessment before the City reaches 1.0.) The tax ratio reductions will trigger tax decreases from year to year. Those tax decreases will trigger automatic rent reductions at December 31 of each year from 2025 to 2028. The decrease in the ratio is especially valuable in 2025 because it will avoid an increase in City taxes and charges which was going to be about 7% for most apartment buildings, and higher than that for some buildings, especially buildings with relatively low rents. This is a tremendous victory for tenants, residential landlords, and property tax fairness in Ottawa! EOLO will provide members with more information in August or September to help implement the tax-driven rent reductions.

New water, sewer, and stormwater rates The City’s water, sewer, and stormwater rates have also been revised to create the new rate structure which is to come into effect in April 2026. In summary, compared to other types of properties, multi-residential properties receiving City water services are still to pay relatively low fixed charges, which come with relatively high volumetric rates. (That was the preference expressed by the EOLO Board, since it enables water saving measures to reduce a property’s water and sewer bill.) To some degree, the City has increased the proportion of water and sewer charges that are fixed, especially for residential properties (of six units or fewer) and in the commercial and industrial sectors. Water and sewer charges for rental apartments will increase, but the increases will largely be offset by decreases in stormwater charges.

theANNUAL Ottawa – 23

Association Report The City has made the stormwater charges align more closely with the requirement for stormwater handling that different properties impose, due largely to variations in their impermeable area (which is what creates a lot of run-off in a short period of time). Shopping malls will pay much more, due to their large parking areas and roof areas. Office towers will pay much less than they do now because their roof areas are relatively small. Likewise, condo and residential rental towers will pay much less than they do now in stormwater charges.

The average total of water, wastewater, and stormwater costs among residential properties is to stay the same under the new rate structure, while the average total bill increases about 2 per cent among multi-residential properties and about 5 per cent among commercial properties. There will be movement between properties within property types. EOLO expects to monitor the effects of the new rate structure, and the annual increases in the rates based on the new structure.

Mandatory organic recycling Table 1 shows the time lines for the implementation of mandatory green bins in the multi-residential sector.

Table 1: Timelines for mandatory green bins

Tier

"Description of properties in each tier (All tiers assume use of the City-organized garbage collection service)"

Number

Expected onboarding time period

Currently receive regularly scheduled additional collections above allocation, but not enrolled in the organics program

220

July 2024 to April 2025

Properties with less than 100 units that are not on additional collections program or the green bin program

260

May 2025 to April 2026

Properties with 100 or more units that are not on additional collections program or the green bin program

260

May 2026 to April 2027

Properties with constraints that prevent them from onboarding immediately, based on best practices

387

May 2027 to Dec 2028

TOTAL

When work begins on each “tier”, the City’s Solid Waste staff will contact property management companies in alphabetical order. Property managers will assign the order for their properties to be onboarded within each tier. EOLO sought flexibility for owners and managers, and achieved some. Subject to their resource constraints, the City will provide Environmental Education Assistants (EEAs) to work with property managers and their residents to provide onsite outreach, onboarding, and education about organic recycling. While there have been some minor scheduling hiccups with the EEAs, EOLO members have generally found their

24 – theANNUAL Ottawa

1,127

work to be valuable. When the EEAs reach out to tenants, it is clear that the call to separate organic waste is coming from the City, rather than as a new demand initiated by the landlord. The EEAs are bringing language capabilities, videos in multiple languages and printed material with clear visuals, minimizing the language issues faced especially in rental housing. EOLO is pleased with the work of the EEAs, and supports more City staffing to expand that work. In the expansion of the green bin program, we all have to remember that the implementation is not “once and done”. Success for the program requires work at implementation, and then follow up work to remind tenants what they need to do, and to educate new tenants.

Provincial election results in Ottawa In the February 27, 2025, Provincial election, the Progressive Conservatives (PCs) won only one of the eight ridings in Ottawa. The Liberals won five and the NDP won two. That is quite a change from the 2022 election when the PCs, won three seats, the Liberals won three and the NDP won two. Does that suggest City Council will swing to the centre or to the left in the upcoming municipal election in October 2026? To answer that question, we have to look at the break down of votes across Ottawa. In 2022, across the eight Ottawa area ridings in total, the PCs received 116,786 votes (32.1%), the Liberals received 118,529 votes (32.6%), while the NDP received 99,538 votes (27.3%). Other parties and independent candidates received 29,246 votes (8.0%). Thus in 2022, our electoral system delivered seats very much in proportion to the total votes for each of the main three parties. In contrast, in 2025, the PCs received 124,011 votes (32.2%), the Liberals received 160,178 votes (41.7%), while the NDP received 82,043 votes (21.3%). Other parties and independent candidates received 18,348 votes (4.8%). But because the votes are counted riding by riding, 32.2% of the total vote turned into one seat for the PCs, but 41.7% of the total votes turned into five seats for the Liberals, and 21.3% turned into two seats for the NDP. The NDP won two seats because its votes were concentrated in two ridings, namely Ottawa Centre and Ottawa West-Nepean. In Ottawa, the PCs were disadvantaged by the voting system because their vote was spread across more ridings. The PCs came a close second to the Liberals in the two ridings the Liberals took from them. Compared to 2022, the PC vote was up by 7,225, the Liberal vote was up by 41,649, and the NDP vote was down by 17, 495. Those totals suggest that the recent provincial election does not foretell a major shift to the left in the 2026 City election. As readers will know, the Progressive Conservatives (PCs) won a solid majority of the seats across Ontario.

Federal election results in Ottawa In the federal election held on April 28, 2025, the federal Liberals did even better, winning all eight ridings in Ottawa, including the seat long held by Pierre Poilievre, the

leader of the Conservative Party. The NDP won none, and did not come close even in the two areas where they won provincially.

UPCOMING ISSUES New Zoning By-law Turning back now to decisions being made by Ottawa City Council, a new Zoning By-law has passed its second draft. In the Fall of 2025, steps will be taken for a final review and adoption of the new comprehensive Zoning By-law. Increased density is to be allowed and required around transit stations. Increased density is to be allowed along major roads. In many areas some increased density is available, along with ancillary uses in residential areas. Developers and interested owners should have looked carefully at what is proposed for their properties, and made suggestions to enhance available density and value. Solid waste options The City is also studying how to handle solid waste since the City-owned landfill will reach capacity between 2035 and 2041. Options under consideration include establishing a new City owned landfill site, making use of privately owned landfills, including one which has been approved but not yet constructed, or building a “waste-toenergy facility”.The “WTEs” used to be called incinerators, but they now have a fancier, nicer sounding name. Two WTEs are already operating in Ontario and three more in other locations in Canada, 70 in the U.S. and more than 2,000 worldwide. It should be noted that incineration does leave a modest amount of ash which needs to be landfilled. However, the existing and approved private landfills could accept the ash for many decades.

City of Ottawa action on an anti-renoviction by-law Based on a recent Council direction, Ottawa City staff are studying the anti-renoviction by-laws recently enacted by Hamilton, Toronto and London, with a view to considering a similar by-law for Ottawa. As staff and the Councillors recognize, the City cannot overrule provincial law. Whatever conditions the City adds, the Landlord and Tenant Board will decide on terminations and evictions. If the City were to try to require so much that the conditions amounted to banning terminations for renovations, such rules would be invalid.

theANNUAL Ottawa – 25

Association Report

However, the goal is to prevent inappropriate use of N13 notices. EOLO agrees with the Federation of Rentalhousing Providers of Ontario (FRPO), and provincial law, that N13 notices should not be used in bad faith. However, we are concerned about the unintended consequences of a City by-law and the risk of overreach. At discussions to date, a number of Councillors were sympathetic to both of EOLO’s concerns. Over the next months of study, the key issue will be what requirements City staff recommend be included in a City by-law. EOLO intends to provide the industry’s input to seek to minimize the impact of new rules on legitimate renovations, major repairs, and demolitions.

26 – theANNUAL Ottawa

Conclusion EOLO works continually to build positive relationships with City Councillors, City staff, the media, Ottawa’s social housing providers, residential tenants, rental housing employees and community members. We also seek to create a positive image for rental housing providers in Ottawa. Through that work, and with the consistent and strong support of rental housing providers in Ottawa, we expect to be able to protect and serve the rental housing industry in Ottawa in 2025, 2026 and future years. To learn more about EOLO, visit www.eolo.ca. To join EOLO, e-mail admin@eolo.ca.

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Neighbourhood Trends The latest information in Ottawa’s many neighbourhoods like:

Nepean Kanata & Stittsville

Rural Eastern Ottawa East & West Orleans Gloucester

theANNUAL Ottawa – 29

Neighbourhood Trends Data provided by Rentals.ca

Age Distribution RHB 2 Age Distribution of Active Renters Ottawa 30%

29% 27%

25%

20% 16% 14%

15%

RHB 2

10%

18-24

Average Rent / Sqft

30 – theANNUAL Ottawa

25-34

35-44

45-54

3/29

55-64

65+

Lead Submission of Prospective Tenants by Bed Count RHB 2 Lead Submission by Bed Count Ottawa

4+ Bed

3 Bed

14%

0 Bed

20%

30%

33%

2 Bed

1 Bed

Average Asking Rent by Bed Count RHB 2 Average Rent by Bed Count Ottawa $4,000 $3,672 $3,500

$3,000 $2,767 $2,520

$2,500

23/29

$2,003

$2,000 $1,630 $1,500

$1,000

$500

0 Bed

1 Bed

2 Bed

3 Bed

4+ Bed

theANNUAL Ottawa – 31

Neighbourhood Trends Searches by Property Type RHB 2 Search by Property Type Ottawa

Houses

Searc

32%

41%

Apartments

27% Condos Apartments

Condos

Houses

2 by Property Type Average Asking RHB Rent Average Rent by Property Type Ottawa

Average Rent by Property Type Kitchener

$3,500

$3,315

$3,000

$2,500 $2,149

$2,500

$2,366 $2,000

$2,185

14/29

$2,000 $1,500 $1,500 $1,000 $1,000

$500

32 – theANNUAL Ottawa

Apartment

Condo

House

Apartment

YoY% Change in Lead Volume of Prospective Tenants

Amenity Searches RHB 2 Amenity Searches Ottawa 25%

24%

23%

20%

18%

15%

13% 10% 10%

6% 5%

5% 3%

Parking

Pets

Laundry Insuite

Heat

Water

9/29

Electricity

Dishwaher

Balcony

Laundry Facility

Gym

theANNUAL Ottawa – 33

Top 10 Ottawa’s top ten private landlords by size

theANNUAL Ottawa – 35

Top 10

Owners, Managers & REITs

* According to their respective suite count in Ottawa.

Paramount Properties

Category:

Owner

Number of suites

Website:

paramountapts.com

8,000

Homestead Land Holdings

36 – theANNUAL Ottawa

Category:

Owner

Number of suites

Website:

homestead.ca

6,153

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Top 10

Owners, Managers & REITs

InterRent REIT/CLV Category:

REIT

Number of suites

Website:

irent.com

4,722

The Minto Group

38 – theANNUAL Ottawa

Category:

Owner

Number of suites

Website:

minto.com

4,714

Top 10

Owners, Managers & REITs

Osgoode Properties Category:

Owner

Number of suites

Website:

osgoodeproperties.com

4,500

Hazelview Investments Category:

Owner

Number of suites

Website:

hazelview.com

2,514

Ferguslea Properties Ltd. Category:

Owner

Number of suites

Website:

fergusleaproperties.com

2,300

* 2024 Data

40 – theANNUAL Ottawa

Top 10

Owners, Managers & REITs

Starlight Investments Category:

Owner/Asset Management

Number of suites

Website:

starlightinvest.com

2,053

Regional Group of Companies Category:

Owner

Number of suites

Website:

regionalgroup.com

2,000

CAPREIT

42 – theANNUAL Ottawa

Category:

REIT

Number of suites

Website:

capreit.ca

1,683

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Honourable Mentions

Owners, Managers & REITs Killam Apartment REIT Broadstreet Properties Urbandale District Realty G&S Regal Management Ltd Sleepwell Management Apollo Management Golden Equity I.P.T. Investments Saickley Enterprises Q Residential Arnon Development Corporation Ltd. United Preperties Ottawa The Silver Group Capital Property Group Centurion Asset Management Skyline

44 – theANNUAL Ottawa

Unpaid Rents

theANNUAL Ottawa – 47

Unpaid Rents Data for this section provided by openroom.ca based on 47,028 court orders (as of July 24, 2025) across Canada, focused in Ontario

Ontario stats Average unpaid rent - 5 year trend Context:

Year

Average unpaid rent per case

Court orders contain monthly rent. This information is extracted and analyzed by Openroom.

2021

$10,058.35

2022

$11,072.73

2023

$12,972.70

2024

$14,767.86

2025

$13,509.35

Year

Average Months of Unpaid rent (includes delay in LTB)

2021

7.39

2022

7.82

2023

8.41

2024

7.54

2025

6.34

What does it show: Number of months of unpaid rent experienced by landlords until court order was issued. Includes time for filing notice, application and other delays. It does not include the following: • Time it takes for the adjudicator to issue the order • Unpaid rent accumulated after hearing date to eviction date (can be 2 weeks to 4 months) Context: Timer starts from first day of unpaid rent and includes, N4 issuance, L1 Filing and to hearing date

London Focus Relative Ranking in Delinquency: 5 Average unpaid rent (from 2021 to 2025): $9,131.09 Average months of unpaid rent (from 2021 to 2025): 7.2 months Average unpaid rent per case - 5 year trend

Changes in number of months of unpaid rent - 5 year trend

Year

Average unpaid rent per case

2021

$7,468.54

Year Average months of Unpaid rent (includes delay in LTB)

2022

$8,006.55

2023

$9,383.42

2024

$14,181.00

2025

$13,190.53

48 – theANNUAL Ottawa

2021

6.94

2022

6.29

2023

7.83

2024

7.27

2025

7.5

Ranking cities by rate of delinquency What does it show: If you are in the top city, your lease is more likely to be unpaid.

Calculation: For each city, compare the ratio of the number of cases of unpaid rent in that city for the number of dwellings. The metric handles the differences in population size and is a good indicator of where you might need to do extra diligence before renting.

City

Rank

Cases per 1000 dwellings*

Oshawa

12.2

Windsor

9.4

Hamilton

9.2

Sudbury

9.1

London

7.6

Barrie

7.5

St. Catharines

7.3

Toronto

5.6

Kitchener

5.6

Waterloo

5.5

Cambridge

5.3

Brampton

4.9

Guelph

4.0

Whitby

3.8

Mississauga

3.3

Ottawa

3.3

Rest of Ontario

3.2

Richmond Hill

3.1

Burlington

2.5

Vaughan

Oakville

1.8

Markham

1.1

theANNUAL Ottawa – 49

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