People who signed new rental agreements paid about $1,360 each month on average, according to Statistics Canada. .According to Blacklock’s Reporter, analysts said about one out of every three Canadians are renters..“Rental cost data warrant further attention,” said a StatsCan report What’s Included in Canadians’ Rent? Figures showed rents in Ontario and Québec typically included air conditioning while Manitoba rents usually covered electricity charges. .In Saskatchewan, 60% of rental prices have parking included. In British Columbia, it's 55%..“Oil, gas and other fuel inclusions differ more substantially across regions,” wrote analysts. .“While least widespread in Québec (12%), Newfoundland and Labrador (15%) and New Brunswick (18%), the inclusion of fuel-based utilities is most common in Prince Edward Island (55%), the territories (54%), Nova Scotia (41%) and Alberta (40%).”.“Rental inclusions are important considerations when comparing rental costs,” said What’s Included. .“Commonly cited rental costs are rarely adjusted for qualitative housing differences including rental inclusions.”.StatsCan got information from surveys filled out by renters. They did not figure out how much profit landlords make. However, the Canadian Federation of Apartment Associations told the Commons Human Resources committee on June 6 that landlords make about 8% profit on average..“Some people picture all or most of the rent money going into the landlord’s pocket,” testified John Dickie, president of the Associations. .“The truth is far from that.”.Dickie said an average of 19% of rental revenue covered operating costs, 14% paid property tax and 12% paid utilities. “That makes up 45 cents out of every dollar of rent leaving 55 cents as net operating income, but we’re not done with the expenses,” said Dickie..“On average, another 36 cents goes to pay the mortgage and 11 cents goes to pay for major repairs and building modernization,” said Dickie. .“That leaves just eight cents out of every dollar of rent as the pre-tax return on each dollar of revenue.”.The Commons committee is studying the “financialization” of housing. .“Good luck finding a $1,700 apartment in any urban centre in the country right now,” testified Ray Sullivan, executive director of the Canadian Housing and Renewal Association..“Absolutely, there is a role for the private sector. What’s important as we talk about rapidly escalating housing starts and increasing the housing supply is that we are very aware and mindful a share of that needs to be non-market and community housing. We are not going to solve the housing crisis by adding five million $1 million homes or five million $ 3,000-a-month rents for one-bedroom apartments.”
People who signed new rental agreements paid about $1,360 each month on average, according to Statistics Canada. .According to Blacklock’s Reporter, analysts said about one out of every three Canadians are renters..“Rental cost data warrant further attention,” said a StatsCan report What’s Included in Canadians’ Rent? Figures showed rents in Ontario and Québec typically included air conditioning while Manitoba rents usually covered electricity charges. .In Saskatchewan, 60% of rental prices have parking included. In British Columbia, it's 55%..“Oil, gas and other fuel inclusions differ more substantially across regions,” wrote analysts. .“While least widespread in Québec (12%), Newfoundland and Labrador (15%) and New Brunswick (18%), the inclusion of fuel-based utilities is most common in Prince Edward Island (55%), the territories (54%), Nova Scotia (41%) and Alberta (40%).”.“Rental inclusions are important considerations when comparing rental costs,” said What’s Included. .“Commonly cited rental costs are rarely adjusted for qualitative housing differences including rental inclusions.”.StatsCan got information from surveys filled out by renters. They did not figure out how much profit landlords make. However, the Canadian Federation of Apartment Associations told the Commons Human Resources committee on June 6 that landlords make about 8% profit on average..“Some people picture all or most of the rent money going into the landlord’s pocket,” testified John Dickie, president of the Associations. .“The truth is far from that.”.Dickie said an average of 19% of rental revenue covered operating costs, 14% paid property tax and 12% paid utilities. “That makes up 45 cents out of every dollar of rent leaving 55 cents as net operating income, but we’re not done with the expenses,” said Dickie..“On average, another 36 cents goes to pay the mortgage and 11 cents goes to pay for major repairs and building modernization,” said Dickie. .“That leaves just eight cents out of every dollar of rent as the pre-tax return on each dollar of revenue.”.The Commons committee is studying the “financialization” of housing. .“Good luck finding a $1,700 apartment in any urban centre in the country right now,” testified Ray Sullivan, executive director of the Canadian Housing and Renewal Association..“Absolutely, there is a role for the private sector. What’s important as we talk about rapidly escalating housing starts and increasing the housing supply is that we are very aware and mindful a share of that needs to be non-market and community housing. We are not going to solve the housing crisis by adding five million $1 million homes or five million $ 3,000-a-month rents for one-bedroom apartments.”
