Amy Erixon Principal and Managing Director Avison Young #CAIC16
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1 PRESENTATION OF TENANT SURVEY RESULTS Amy Erixon Principal and Managing Director Avison Young #CAIC16
2 Data Mechanics
3 Surprising Renter Profile Findings 62% of Canadians Rent 2+ Bedrooms 31% of Those Surveyed Have At Least 1 Dependent Tenants Are More Tech Savvy Than Landlords TOP DESIRED Rental Feature: Amenity: Tech Service: Location: High Speed Internet Green Features Online Rental Payments Close to Grocery Store #CAIC16
4 CANADIAN RENTER STATISTICS
5 Time To Find Your Rental 52% < 1 month 29% 1-2 months 13% 2-6 months 5% > 6 months Key Findings: Vancouver - 41% taking 1 month or less and 22% taking 2-6 months Toronto Is consistent with national average #CAIC16
6 Length At Your Current Rental 37% 1-3 years 31% < 1 year 16% > 6 years 15% 3-5 years Key Findings: year olds typically stay less than 1 year. 50% of the year olds stay for 3+ years Toronto reported 23% renting for < 1 year
7 Plan For Next 12 Months 58% Plan To Stay 20% Plan To Move 16% Plan To Purchase Home Or Condo 6% Other Key Findings: Toronto and Vancouver renters plan to stay longer at 61% and 63% respectively Vancouver only 8% plan to purchase a house/condo
8 Monthly Rent 34% < $1,000 38% $1,000-$1,600 17% $1,600-$2,099 9% > $2,099 Key Findings: Toronto - 18% were paying < $1,000 a month and 12% were paying >$2,099 a month Major Markets - 26% were paying < $1,000 a month Secondary Markets - 47% were paying < $1,000 a month
9 Type Of Rental Apartment 58% Other 5% Condo 17% House 20% Interesting Facts: Apartments satisfy renters up to 2 bedroom demands, then most people move in to houses Condo rentals at 25% for Toronto and 16% for Vancouver
10 How Many Cars 47% 1 35% 0 15% 2 3% 3 Interesting Facts: 82% of Canadians that rent have 1 or fewer cars 47% of respondents in Vancouver reported not owing a car 71% of renters in secondary markets reported owning 1 or more cars
11 Commute Time 25% mins 22% 0-10 mins 20% mins 18% mins 9% mins Interesting Facts: In Toronto the commute times increase. 24% reported taking mins to work However in Vancouver 30% took only mins to get to work 6% 60+ mins
12 Commute Method 42% Drive 29% Public Transportation 16% Bike 9% Walk 4% Work From Home Interesting Facts: In Toronto 19% of respondents biked to work compared with 23% in Vancouver In Vancouver only 29% reported that they drive to work whereas 16% prefer to walk
13 Affordability By Location (More Than 33%) Yes 24% CANADA Yes 23% TORONTO No 76% Yes 33% VANCOUVER No 77% No 67%
14 Affordability By Age (More than 33%) % Prefer not to disclose % % % 25% Yes No % % -18 0% 5% 10% 15% 20% 25%
15 Decision Priorities Price Size Extremely important Very important Moderately important Slightly important Not important (blank) 7% 1% 0% 31% 61% Very important Extremely important Moderately important Slightly important Not important (blank) 3% 1% 17% 41% 38% 0% 20% 40% 60% 80% Percent of Renters 0% 10% 20% 30% 40% 50% Percent of Renters Location Quality Extremely important Very important Moderately important Slightly important Not important (blank) 10% 1% 0% 50% 39% 0% 20% 40% 60% Percent of Renters Extremely important Very important Moderately important Slightly important Not important (blank) 2% 0% 13% 45% 40% 0% 10% 20% 30% 40% 50% Percent of Renters
16 UNIT / BUILDING FEATURES
17 Most Desirable Features 90% High Speed Internet 89% Sound Proof Walls 88% Washer / Dryer In Unit 85% Parking 84% Patio / Balcony 74% Bathtub 69% Dishwasher 64% Garbage Disposal 63% Walk-in Closet 62% En-suite Bathroom
18 Features Surveyed High speed internet access Soundproof walls Washer/dryer in unit Parking Patio or balcony Bathtub Dishwasher Garbage disposal Walk-in closet En-suite bathroom Microwave Refrigerator with water/ice dispenser In-unit speaker/sound system Heated floors Color changing LED lighting 14% 25% 24% 74% 69% 64% 63% 62% 60% 52% 90% 89% 88% 85% 84% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
19 Top 10 Desired Features By Rental Amount < $1,000 $1,000 - $1,999 $2, High Speed Internet Access Soundproof Walls Soundproof Walls 2 Soundproof Walls Washer / Dryer in Unit Washer / Dryer in Unit 3 Washer / Dryer in Unit High Speed Internet Access Parking 4 Parking Patio / Balcony Dishwasher 5 Patio / Balcony Parking Patio / Balcony 6 Bathtub Bathtub High Speed Internet Access 7 Garbage Disposal Dishwasher En-Suite Bathroom 8 Dishwasher Walk-in Closet Garbage Disposal 9 En-Suite Bathroom Garbage Disposal Microwave 10 Walk-in Closet En-Suite Bathroom Walk-in Closet
20 Top 10 Desired Features By # of Dependents High Speed Internet Access Parking Parking 2 Soundproof Walls Washer / Dryer in Unit Washer / Dryer in Unit 3 Washer / Dryer in Unit High Speed Internet Access High Speed Internet Access 4 Patio / Balcony Soundproof Walls Soundproof Walls 5 Parking Patio / Balcony Patio / Balcony 6 Bathtub Bathtub Bathtub 7 Dishwasher Walk-in Closet En-Suite Bathroom 8 Garbage Disposal Dishwasher Walk-in Closet 9 Walk-in Closet En-Suite Bathroom Dishwasher 10 En-Suite Bathroom / Microwave Microwave / Refrigerator with Ice Dispenser Garbage Disposal
21 LOCATION CHARACTERISTICS
22 Lifestyle Proximity 93% Grocery Store 87% Public Transit 82% Office / Place of Work 77% Restaurants 69% Children s School 63% Place of Study 46% Bars / Nightlife
23 Proximity By Number of Dependents Grocery Store Grocery Store Grocery Store 2 Public Transportation Children s Schools Children s Schools 3 Office Public Transportation Public Transportation 4 Restaurants Office Office 5 Place of Study Restaurants Restaurants 6 Children s Schools Place of Study Place of Study 7 Bars / Nightlife Bars / Nightlife Bars / Nightlife
24 The Importance Of Utilities Included Extremely important 31% Very important 29% Moderately important 24% Slightly important 9% Not important 7% (blank) 0% 5% 10% 15% 20% 25% 30% 35% Percent of Renters
25 BUILDING FEATURES AND AMENITIES
26 What Amenities Do Renters Want Fitness Center Games Room Security Guard and/or System Dry Cleaning Services Guest Parking Common Lounge Bike Storage Outdoor Playground Dog Services (Walking, Grooming) Daycare Parking 0% 9% 24% 23% 23% 23% 22% 19% 19% 17% 15% 34% 34% 32% 30% 29% 29% 27% 27% 42% 41% 48% 0% 10% 20% 30% 40% 50% 60%
27 Let s Take A Closer Look 48% Eco-friendly Building 42% Fitness Center 41% Pool / Sauna / Spa 34% Games Room 34% Housekeeping Services 32% Security Guard / System 30% Parcel Delivery Service 29% Dry Cleaning Service 29% Drop Off And Pick Up Area 27% Guest Parking / Outdoor Common Area
28 Amenities By Age Years Old Years Old Years Old 1 Eco-Friendly / Green Features Eco-Friendly / Green Features Fitness Center 2 Sauna / Spa / Pool Fitness Center Sauna / Spa / Pool 3 Fitness Center Sauna / Spa / Pool Security Guard / System 4 Games Room Games Room Eco-Friendly / Green Features 5 Housekeeping Service Parcel Delivery Service Games Room 6 Security Guard / System Housekeeping Services Housekeeping Service 7 Dry Cleaning Service Uber Pickup / Drop-off Zone Bike Storage 8 Outdoor Common Area Security Guard / System Parcel Delivery Service 9 Guest Parking Outdoor Playground Guest Parking 10 Parcel Delivery & Uber Pickup / Drop-off Zone Dry Cleaning Service Dry Cleaning Services
29 Amenities By # Of Dependants Eco-Friendly / Green Features Eco-Friendly / Green Features Toddler Family Room 2 Fitness Center Fitness Center Fitness Center 3 Sauna / Spa / Pool Sauna / Spa / Pool Sauna / Spa / Pool 4 Housekeeping Service Games Room Games Room 5 Dry Cleaning Service Daycare Eco-Friendly / Green Features 6 Games Room Outdoor Playground Outdoor Playground 7 Security Guard / System Security Guard / System Parcel Delivery Service 8 Parcel Delivery Service Toddler Family Room Uber Pickup / Drop-off Zone 9 Guest Parking Parcel Delivery Service Housekeeping Service 10 Uber Pickup / Drop-off Zone Common Lounge Security Guard / System + Building Events & Socials
30 Amenities By Age Of Dependents Eco-Friendly / Green Features Fitness Center Sauna / Spa / Pool 2 Fitness Center Sauna / Spa / Pool Security Guard / System 3 Sauna / Spa / Pool Eco-Friendly / Green Features Eco-Friendly / Green Features 4 Security Guard / System Games Room Housekeeping Service 5 Parcel Delivery Service Toddler Family Room Games Room 6 Dry Cleaning Service Outdoor Playground Fitness Center 7 Uber Pickup / Drop-off Zone Common Lounge Uber Pickup / Drop-off Zone 8 Housekeeping Service Building Events & Socials Parcel Delivery Service 9 Games Room Security Guard / System Bike Storage 10 Outdoor Common Area / Playground Bike Storage Outdoor/Lounge Common Area
31 Renter Preference Conclusions 93% Grocery Store 92% Price 90% High Speed Internet Access 89% Location 87% Access To Transit 85% Building Quality 79% Size 60% Utilities Included 48% Green Features
32 TECHNOLOGY
33 Tenant Technology Adoption How Did Tenants Find Their Space? Online Listing Service Friend Directly from building Real Estate Agent / Broker Other (blank) 10% 12% 15% 22% 41% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Percent of Renters Does Their Landlord Accept Electronic Payments? Yes they do, and I use it 43% No they do not, and I would like them to 33% No they do not, and I don't have a use for it 14% Yes they do, and I do not like using it 10% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
34 Community Portals No Yes (blank) Does your building have an online community portal? 80% 20% 0% 20% 40% 60% 80% 100% Percent of Renters Canada Toronto Vancouver Had Access 20% 31% 10% Used It 46% 54% 32% Would Use If Offered 54% 56% 47% If your building DOES have an online community portal, do you use it? If your building DOES NOT have an online community portal, would you like one? No 54% Yes 54% Yes 46% No 46% (bla (blank) 0% 10% 20% 30% 40% 50% 60% Percent of Renters 0% 10% 20% 30% 40% 50% 60% Percent of Renters
35 Preferred Landlord Communications Would you rather be able to pay your rent and advise of repairs with: Online 39% In person or over the phone 22% 21% An app 16% Other 3% Key Findings (blank) 0% 10% 20% 30% 40% 50% Percent of Renters 39% said they would like to go online 22% told us they would rather over 21% told us they would rather in person 16% of respondents would like to do so with an app
36 Technology Conclusions Key Findings: Most renters across Canada found their rentals online Rental Price had a huge impact on how people found their rentals 43% of Canadians pay rent online 33% of Canadians would pay rent online if offered to them. Most renters found electronic payments very/extremely important
37 Sky Is The Limit
38 THANK YOU! Want more information, or to take part in the 2017 survey? Please contact conference staff at the registration desk for more details
2018 PRESENTATION OF TENANT SURVEY RESULTS. Amy Erixon Principal and Managing Director, Avison Young
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