Final Take Away
Brought to you by Yardi Canada Ltd
Smarter decisions, stronger returns: How data drives market advantage By Peter Altobelli, Vice President and General Manager, Yardi Canada Ltd.
More than half of Canadian renters plan to move within the next one to two years, a clear signal that the market is shifting, as per a recent simplydbs survey. With new supply on the horizon and renter expectations evolving faster than ever, housing providers must use data to anticipate what residents want and act before competitors do. By 2030, Canada is expected to reach a record high for new purpose-built rentals. For housing providers, this represents both opportunity and competition. Understanding where renters are looking The latest RentCafe.com Canadian Renter Interest Report, which analyzes millions of online interactions from prospective tenants, shows that renters are exploring more options outside major metropolitan areas. While larger cities continue to attract interest, affordability pressures and flexible work arrangements are encouraging many Canadians to consider emerging markets. While online searches are expanding to new markets, data from the Yardi Multifamily Report shows that many renters are still browsing more than moving. National vacancy rates have started to rise and are expected to keep rising, which points to easing conditions but also to continued pressure from supply and affordability. These mixed signals highlight an important moment for housing providers to understand what matters most to residents and to adjust services and communication accordingly. What residents value most The various surveys and reports provided by simplydbs offer a detailed look at renter preferences across the country. Based on feedback from more than 26,000 renters, the study reveals what truly influences satisfaction. Private space remains a defining feature. Nearly half of renters said balconies and outdoor areas are essential, and 94 per cent said they prefer having them. Large, functional units are also more desirable than smaller, high-end spaces, showing that comfort and practicality often outweigh luxury finishes. For housing providers, these insights have real business implications. According to simplydbs, more than 90 per cent of renters rely on property websites when deciding where to live. Highlighting amenities and features that renters value most such as private balconies, in-suite
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laundry or pet-friendly policies can increase interest and set listings apart. Housing providers that align their marketing and investment strategies with these preferences—and pair them with better technology—can improve both leasing performance and retention for the long term. Technology drives satisfaction Modern renters are not only looking for well-designed spaces. They also expect communication and maintenance to be simple, quick and transparent. Recent survey data from simplydbs shows that a large share of residents prefer to use a building app to communicate or submit maintenance requests, and 87 per cent of renters expect to hear back from a property within 24 hours of reaching out. When communication and service requests are handled promptly, residents are more likely to renew their leases and recommend their communities to others. The right technology, one that centralizes marketing, leasing and property management needs, transforms these touchpoints into long-term operational efficiency. Turning data into action Canadian housing providers have more data than ever, so the value now is in using it. National insights can guide strategy, highlight trends and support decisions that improve operations and retention. When that information is paired with the right technology, teams can respond faster, simplify workflows and deliver better service. As supply grows and renter expectations shift, providers that act on data and stay responsive to residents will be the ones that retain tenants and protect their position in the market. Learn more about how technology can support your property management strategy at www.yardibreeze.ca.