PRESENTATION OF TENANT SURVEY RESULTS Amy Erixon Principal and Managing Director Avison Young #CAIC16
Data Mechanics
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
CANADIAN RENTER STATISTICS
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
Length At Your Current Rental 37% 1-3 years 31% < 1 year 16% > 6 years 15% 3-5 years Key Findings: 18-30 year olds typically stay less than 1 year. 50% of the 31-60 year olds stay for 3+ years Toronto reported 23% renting for < 1 year
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
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
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
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
Commute Time 25% 10-20 mins 22% 0-10 mins 20% 20-30 mins 18% 30-45 mins 9% 45-60 mins Interesting Facts: In Toronto the commute times increase. 24% reported taking 30-45 mins to work However in Vancouver 30% took only 10-20 mins to get to work 6% 60+ mins
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
Affordability By Location (More Than 33%) Yes 24% CANADA Yes 23% TORONTO No 76% Yes 33% VANCOUVER No 77% No 67%
Affordability By Age (More than 33%) 71+ 54% Prefer not to disclose 61-70 29% 51-60 35% 41-50 31-40 40% 25% Yes No 26-30 34% 18-25 33% -18 0% 5% 10% 15% 20% 25%
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
UNIT / BUILDING FEATURES
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
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%
Top 10 Desired Features By Rental Amount < $1,000 $1,000 - $1,999 $2,000 + 1 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
Top 10 Desired Features By # of Dependents 0 1-2 3+ 1 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
LOCATION CHARACTERISTICS
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
Proximity By Number of Dependents 0 1-2 3+ 1 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
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
BUILDING FEATURES AND AMENITIES
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%
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
Amenities By Age 18-30 Years Old 31-50 Years Old 51-71+ 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
Amenities By # Of Dependants 0 1-2 3+ 1 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
Amenities By Age Of Dependents 0-4 5-19 20+ 1 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
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
TECHNOLOGY
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%
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
Preferred Landlord Communications Would you rather be able to pay your rent and advise of repairs with: Online 39% E-mail 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 email 21% told us they would rather in person 16% of respondents would like to do so with an app
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
Sky Is The Limit
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