The Federation of Rental Housing Providers of Ontario (FRPO) released its second research report authored by Shaun Hildebrand of Urbanation. The first FRPO report, released two weeks ago entitled Ontario Rental Market: Measuring the Supply Gap addressed the current rental housing market, noting a shortfall of 6,000 rental units in supply annually.
The new FRPO report entitled Ontario Rental Market: Renovation Investment and Role of Vacancy Decontrol highlighted the economic importance of vacancy decontrol, noting $5.2 billion in renovation investment since 2012. Key findings of the new report also include that three quarters (77 per cent) of purpose-built rentals in Ontario received renovation expenditures of $5,000 or more since 2012 with a total investment of $5.2 billion as a result of vacancy decontrol.
As FRPO asserts, “Vacancy decontrol is a key component on Ontario’s Rental Tenancies Act. With the next provincial election approaching, it is important the industry detail the economic contribution and impact of this policy.”
FRPO will be offering a webinar with Shaun Hildebrand on Thursday, October 26th at 11 am as he provides more detail on his two reports. Registration is $25 for members and $40 for non-members.
More details can be found at the FRPO Webinar site.