New research from Dr. Martine August shows corporate property owners are fueling rent increases in Toronto

A new study by Dr. Martine August, an associate professor in the School of Planning at the University of Waterloo, reveals that companies owning rental housing properties charge higher rent across all building classes compared to the average neighborhood price in Toronto.

Co-authored with Cloé St.-Hilaire, a PhD Candidate at the School of Planning, the research highlights that corporate landlords – including private equity firms, real estate investment trusts (REITs), and other asset managers – charged rents that were 44 percent higher for multifamily units compared to similar housing types owned by non-corporate landlords from 2022 to 2024.

“Most people can’t afford the housing they are living in, and these firms are in part responsible for pushing that change,” states Dr. August. “They are buying up buildings and turning them into investment products, raising the rents and making communities less affordable for people.”

Please visit The Globe and Mail website to read the full article. Dr. August’s research has also sparked conversation, earning coverage in The Star, The Conversation, CTV News, CP24, and Canadian Mortgage Professional Magazine.