Toronto Multifamily Remains Tight as Rents Rise and Concessions Fade

“Rental rates and concessions both seemed to have firmed up over the last couple of quarters,” says Henry Morton, president of Campus Suites—which own and operates a number of units in the Toronto metro area. Morton adds: “Occupancy may or may not be up, as various owners [and] managers make economic decisions based upon their net numbers. Some managers feel that if you can get the generally higher rents, then occupancy should follow if they believe in the market and they push it to find the break point, which is a very good model.

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