03/28/2019

Renting Trends Continue To Rise in 2019

Economic realities like rising interest rates and the stricter mortgage stress test are making it tougher for Canadians to purchase homes these days, causing renting to become a much more desirable option.

That scenario has benefited Calgary-based Avenue Living Asset Management which holds an 8,000+ residential rental unit portfolio in Alberta, Saskatchewan and Manitoba.

“Demand drivers are higher this year than they were in the past,” said Jason Jogia, Chief Investment Officer of Avenue Living Asset Management. “People’s propensity to rent is rising, because the ability to buy is becoming more difficult.”

“We’ve been creatively investing in our properties to improve the quality standard that we offer our customers – really focusing on the customer service aspect of our business. We’re becoming the landlord of choice for people in the markets that we are in.

“We’re seeing more renters out there, more activity, more viewings and more applications. We’re getting a better choice of people who want to live in our buildings. In return, they’re getting better service from us, from the investments we’ve been making in renovations and upgrades.”

Avenue Living Asset Management began in 2006 with the purchase of 24 rental units in Brooks for $3 million. Jogia said the company plans to add another 3,000 residential units to its portfolio in 2019.

He said the company’s occupancy rate is about 94-95 per cent, improving by a couple of percentage points from just one year ago.

Rising interest rates, and the threat of further hikes, combined with tougher measures for Canadians to obtain a mortgage are both helping drive increasing rental demand.

“We have always focused on what we call workforce housing – housing for the average Canadian, who might not be necessarily choosing to rent but may be required to rent due to their personal budget and their ability to purchase their first home,” explained Jogia.

“With a recent raise in minimum wage, income levels are higher in Alberta and Saskatchewan than most other places in Canada. The affordability is there to rent, especially in the product type that we have. They’re not priced out of the market because there’s high demand, like Toronto where you can spend $3,000 a month for a three bedroom condo.”

Jogia said renters for Avenue Living’s portfolio comprise of a varied demographic from students to families to seniors.

So what does he expect in the rental market for Avenue Living in the near future?

“I think we’re going to see a continued tightening of supply. By Q2 of this year we will have renovated our suites to premier and classic categories. And with vacancy rates decreasing, there will be a lot of upside on the rent potential.”



Terms & Conditions

By clicking "I Agree" and accessing this content, you acknowledge and agree to the following terms and conditions of use. The following constitutes a legal agreement governing your access to and use of the following webpages and is entered into between you and Avenue Living Asset Management Ltd. and (collectively, the “Company”):
  1. Restricted Access
The information contained on the following webpages is intended solely for use by individuals who are registered investment professionals in Canada, including those registered with a provincial securities commission, the Canadian Securities Administrators (CSA), or a recognized self-regulatory organization (e.g., CIRO). If you are not a registered investment professional in Canada, you are not authorized to access or use this information.
  1. Regulatory Compliance
By accessing this information, you represent, warrant and covenant that:
  • You are a registered investment professional in Canada and remain in good standing under applicable laws;
  • You are accessing the information solely in your professional capacity, and not as a retail investor or for general promotional or solicitation purposes; and
  • You will not use the information in any manner that would breach Canadian securities laws or regulations or applicable laws of any other jurisdiction.
  1. Company Status and Distribution Model
Avenue Living Asset Management Ltd. is a non-registered asset management firm and does not itself engage in the distribution of securities. Securities of Avenue Living Real Estate Core Trust, Mini Mall Storage Properties Trust, Tract Farmland Partners LP and any other issuer described in these materials are distributed exclusively through third-party investment dealers and exempt market dealers that are registered under applicable Canadian securities laws. Such distribution is conducted pursuant to available prospectus exemptions under National Instrument 45-106 – Prospectus Exemptions or other applicable local exemptions in the relevant offering jurisdictions. The Company does not provide investment advice or portfolio management services and is not registered as a dealer or adviser in any Canadian jurisdiction.
  1. Nature of Information
By proceeding, you acknowledge that the materials available behind this click-through agreement may include, but are not limited to:
  • Offering Memorandums (OMs) and other subscription-related documents;
  • Marketing presentations and fund fact sheets relating to potential investment opportunities;
  • Due diligence materials and supporting documentation;
  • Confidential information regarding investment strategies, fund structures, and/or management teams.
Such information is non-public, proprietary, and confidential, and is intended only to be accessed and reviewed through the Company’s website by qualified, registered investment professionals.
  1. Not an Offer or Solicitation
The materials accessed are provided on this website solely for informational purposes and do not constitute an offer to sell, or a solicitation to buy, any securities or investment products in any jurisdiction, nor do they constitute investment advice. Any such offer or solicitation, if made, would be pursuant to applicable securities laws and accompanied by appropriate offering documents. No offer or sale is being made to any U.S. Person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended), nor to any person in the United States or subject to U.S. jurisdiction. The securities described hereinafter have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States or to U.S. Persons absent registration or an applicable exemption. The information contained on this website is not intended to constitute financial, investment, legal, accounting or tax advice or counsel and must not be relied upon in that regard. See Disclaimer - Avenue Living Asset Management and Forward Looking Statements - Avenue Living Asset Management for further information.
  1. Confidentiality & No Dissemination
You acknowledge that the information you are accessing is confidential and proprietary to the Company. You agree:
  • Not to copy, forward, share, or otherwise disseminate any of the materials;
  • Not to use the materials for any purpose other than your internal investment evaluation in a professional capacity;
  • To maintain the confidentiality of all information in accordance with applicable professional and legal standards.
You agree that the materials may not be copied, distributed, forwarded, or otherwise disseminated to any third party, including clients, prospective investors, or members of the public, without prior written consent of the Company. Unauthorized distribution, reproduction, or reliance by any third party is strictly prohibited.
  1. Intellectual Property Rights
All content provided is the intellectual property of the Company or its licensors and is protected under applicable copyright, trademark, and trade secret laws. You are granted a limited, non-transferable, non-sublicensable license to access and use the materials solely for professional due diligence purposes. You may not modify, reverse engineer, decompile, or create derivative works from any materials, nor remove any copyright or proprietary notices.
  1. Accuracy and Limitation of Liability
The information provided is believed to be accurate and reliable as of the date presented but is subject to change without notice. The Company makes no representation or warranty, express or implied, as to the accuracy, completeness, or currency of the content and disclaims all liability, to the extent possible under applicable securities laws, arising from any reliance on such information.
  1. Language
The parties hereto expressly request and require that this agreement be drawn up in English. Les parties aux présentes conviennent et exigent que cette entente soit rédigé en anglais.
  1. Acceptance of Terms
By clicking "I Agree," you confirm and agree that: If you do not agree to these terms, do not access or use the information.

Related Posts

It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.


Tessa Bartlett 25 September, 2025

Avenue Living Closes Senior Unsecured Debenture Offering for $350 Million

Calgary, AB, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Avenue Living (2014) LP (“Avenue Living”) announced…

Tessa Bartlett 25 September, 2025

Avenue Living Announces $350 Million Senior Unsecured Debenture Offering

Calgary, AB, Sept. 23, 2025 (GLOBE NEWSWIRE) -- Avenue Living (2014) LP (“Avenue Living”) announced…

Tessa Bartlett 25 September, 2025

Avenue Living Recognized as a Top Employer for Second Consecutive Year, Highlighting the Power of People Behind Record Growth

Calgary, AB, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Avenue Living has once again been named one of…