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Student Housing

A TALE OF TWO CITIES WITHIN EACH CITY: RENTAL ISSUES UNDER COVID-19

Posted in Association News, Coronavirus, Industry Trends, Newsworthy, Student Housing

A TALE OF TWO CITIES WITHIN EACH CITY: RENTAL ISSUES UNDER COVID-19

Thanks to COVID-19, rental demand has followed two different paths. Rental demand is down for high-end apartments in the downtown core of Canada’s major centres; whereas, so far, it is largely stable in suburban markets and in secondary and tertiary markets, except for those markets dependent on universities which have not returned to live instruction. Those observations come from the Operations Roundtable held as part of CFAA’s Fall 2020 webinar series. The panelists were Ruth Buckle, Senior...

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HOW HAS COVID-19 IMPACTED CANADA’S STUDENT RENTAL MARKET?

Posted in Coronavirus, Health & Safety, Housing, Industry Trends, Newsworthy, Student Housing

HOW HAS COVID-19 IMPACTED CANADA’S STUDENT RENTAL MARKET?

With the return to school having achieved the topic of the day status for a few weeks in late summer, real estate investors’ thoughts undoubtedly turned toward the fate of the country’s student rental market. COVID-19 has forced most Canadian universities to adopt remote learning models until at least the end of 2020, but is the new paradigm really leading to a decline in demand for student rentals? Timbercreek’s executive director of origination, Geoff McTait, says student rentals have, like...

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RENTAL VACANCIES COULD SOAR AS COVID-19 KEEPS STUDENTS AWAY

Posted in Affordable Housing, Coronavirus, Housing, Industry Trends, Newsworthy, Student Housing, Vacancy Rates

RENTAL VACANCIES COULD SOAR AS COVID-19 KEEPS STUDENTS AWAY

As universities move primarily toward online instruction in efforts to curb further spread of COVID-19, a recent report has found that demand for rental housing in Ottawa this fall has dropped drastically. Last week, Carleton University’s Centre of Urban Research and Education (CURE) released a report looking into the pandemic’s effects on the city’s rental market and what could happen if most students don’t return for the school year. The survey, which will continue...

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RESIDENTIAL-RENTAL INCENTIVES APPEAR WITH MODEST VACANCY INCREASE

Posted in Coronavirus, Development, Housing, Industry Trends, Newsworthy, Rental Rates, Student Housing, Vacancy Rates

RESIDENTIAL-RENTAL INCENTIVES APPEAR WITH MODEST VACANCY INCREASE

For the first time in years, the Greater Victoria residential rental market is seeing incentives to attract tenants, but industry experts suggest the phenomenon is unlikely to be widespread or long-lived. Rentals.ca, an online marketplace for rentals across Canada, says some building managers or property owners in Victoria and other major centres are offering a free month’s rent or credits ranging between $500 and $1,000. Rentals.ca suggests the inducements could be due to significantly...

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CAN UNIVERSITY AND COLLEGE STUDENTS BREAK THEIR LEASE AS CLASSES MOVE ONLINE?

Posted in Coronavirus, Housing, Industry Trends, Legal, Newsworthy, Student Housing, Tenancy Law

CAN UNIVERSITY AND COLLEGE STUDENTS BREAK THEIR LEASE AS CLASSES MOVE ONLINE?

As several colleges and universities in Ontario plan to move a large part of their fall semesters online, students who rent an apartment or house close to campus may be reconsidering the value of their investment. York University, Ryerson University, the University of Toronto and Western University (just to name a few) have all announced their plans to hold many classes electronically in an effort to promote physical distancing and prevent the spread of COVID-19. And with that, some students,...

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Student housing emerging as hot rental sector – even in Alberta

Posted in Appraisal, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Student Housing

Student housing emerging as hot rental sector – even in Alberta

Foreign students represent wealthy and expanding base of tenants, attracting attention of one of Alberta’s biggest landlords. Western Canadian residential investors may want to look at an expanding and lucrative niche in the rental market that has drawn the attention of one of Alberta’s biggest landlords, as well as spawning multimillion-dollar developments in Metro Vancouver. It is student housing, especially that targeted at the more than 700,000 international students who study in...

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The need for more student housing in top Canadian cities is growing

Posted in Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Student Housing

The need for more student housing in top Canadian cities is growing

In a recent column for HuffPost Canada, markets observer Daniel Tencer said that the lack of sufficient student housing supply is a major factor driving higher rent rates in Canada’s top cities. This phenomenon was especially apparent in rental spaces situated closer to educational institutions. “These incoming foreign students need somewhere to live, and with the increased population growth, there will be pressure on the housing market in university towns,” Tencer quoted a recent analysis by...

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Student Housing In Canada Is Being Ignored, And It Might Be Why You Can’t Afford Rent

Posted in Communications, Finance, Housing, Industry Trends, Newsworthy, Student Housing

Student Housing In Canada Is Being Ignored, And It Might Be Why You Can’t Afford Rent

There are more than 400,000 international students in Canada, and no one is building housing for them. In the endless debate over Canada’s high house prices and rising rents, foreign buyers have become the most popular target for blame, and a popular target for policy action now, too. But the problem may have more to do with a somewhat different group of people landing on our shores, and the fact no one is building housing for them: international students. The number of students from abroad in...

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Student housing in Canada: Soaring demand but supply lags ‘far behind,’ says report

Posted in Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Student Housing

Student housing in Canada: Soaring demand but supply lags ‘far behind,’ says report

Last year, there were 1.5 million full-time students enrolled in Canadian universities and colleges, but many are forced to live far from campus. Canada is 10 to 15 years behind the pace of the United States and United Kingdom when it comes to developing off-campus rental housing for the country’s growing student population, the Real Estate Investment Network (REIN) revealed in a new report. “When you look (at the data)… three per cent of Canadian university students live in purpose-built...

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The 10 key themes from CMHC’s National Housing Conference

Posted in Bylaws / Regulations, CMHC, Development, Finance, Housing, Industry Trends, Real Estate Law, Senior Housing, Student Housing, Tax Law, Tenancy Law

The 10 key themes from CMHC’s National Housing Conference

Organized as part of the National Housing Strategy, the Conference brought together housing industry experts, researchers, policy makers and practitioners. The event was a forum for collaboration and sharing of experiences and lessons from Canada and around the world. By bringing a diverse group of professionals together, we hoped to innovate on solutions to address Canada’s housing needs. The 10 key themes from the National Housing Conference During the various discussions and sessions held...

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