• The average income of the Ontorio's renter homes is $47,72, and the median income is $36,916. The Average Income of the province homeowners is $101,254, and the median income is 81,723. 

Toronto income breakdown by renters and homeowners.

• Toronto is the second-fastest-growing census metropolitan area (CMA) in Canada between the years of 2011-2016 with regard to home ownership. By 2016, 66.5% of the population in Toronto were homeowners. This chart depicts the percentage of home ownership across other major metropolitan areas in Canada in 2016.
• According to the most recent data, about two-thirds of assisted homeowners in Toronto earned between $30,000 and $70,000. 
• According to data from Toronto home ownership survey, less than 10% of home-owners and renter in Toronto earned between 10,000 to $19,999, about 15% made between $20,000 to $29,999, less than 30% made $30,000 to $49,999, less than 35% earned $50,000 to $69,999 , less than 40% made $70,000 to $89,999 and above 40% earned $90,000 and more.
• In 2015, about one in three households in Toronto spend above 30% of their income on housing, and more than "20% of renters spend 50% or more of their income on shelter."

Ontario income breakdown by renters and homeowners.

• Nearly 50% of all renter homes in Ontario live in the Toronto metropolitan area.
• About 85% of renters in Ontario live in the "private rental market without any government subsidies."
• The average income of the province renter homes is $47,72, and the median income is $36,916. 
• The Average Income of the province homeowners is $101,254, and the median income is 81,723. 
• About 71% of homes with income below $20,000 are renters, "compared to only 10% of households with income over $100,000." 

Research strategy

Basic

Facilities and The Premises

• For a price premium, customers expect luxury premises with modern facilities.
• Apartments equipped with modern facilities such as private parking, balconies, shared lounges/TV areas, saunas, spas, wellness centers, hot tubs/Jacuzzis, and terraces cost more.
• Some accommodations spice things up with the provision of off-site canoeing, hiking, hot spring baths, water parks, and open-air baths.
• Unfortunately, for most of these excellent facilities, a damage deposit of CAD 300–800 is required.
• Among such rentals' marketing messages, "Free WiFi in all rooms!" or "high-speed internet" affects the cost of such apartments. "Complimentary WiFi is provided throughout the property."



Location

• Closeness to top attractions is a necessity.
• "Near to every place downtown. A new building equipped with everything that we need."
• The Luxury Apartment at 30 Nelson Street, ON Toronto was within 300-750 meters of Symphony Orchestra, CN Tower, and Yonge-Dundas Square, major tourist attractions.



The Landlord's Policy and Services

•  Customer service is of paramount importance.
•  Reviews declare:
• "Contact accessible and respond immediately. Very friendly!!"
• "Instant confirmation rental"
• "The owner of the condo always provided for anything asked."
• "Best service, exceptional apt, top-notch..."
• "Lovely apartment with a friendly and accommodating host who was super helpful when we had an emergency. Well recommended, we'll be back!"



The View

• In Toronto, renters are very willing to pay for houses with good views.
• Certain reviews say:
• "Amazing view, you can spend hours on the balcony taking pictures of Toronto skyline."
• "The view of the Toronto cityscape is breathtaking, and the wide swath of downtown and lakeshore is beautiful."
• "The most incredible view of Toronto!"
• "A 10/10 for the Awesome View looking West & South and seeing the Sunset!"

Valuable Differentiators

Domestic Gadgets

• Renters did not show much displeasure at malfunctioning gadgets, but they were very vocal about the infrastructure and similar facilities on the premises.
• Nonetheless, furnishing rentals with domestic gadgets helps raise the price as they add value to the property.
• "Accommodation is fitted with air conditioning, a fully equipped kitchen with a dining area, a flat-screen TV and a private bathroom with bath, a hairdryer, and free toiletries. A dishwasher, a microwave, and a fridge are also featured, as well as a kettle and a coffee machine."
• "Minimal issues:- -Mattress in the main bedroom could be changed. -Fridge twice had sudden water leakage inside."



Roominess

• For a price premium, renters are seeking roominess above the status quo. Expensive apartments comfortably boast up to 78 squared meter area.
• Nevertheless, customers are not very particular about the dimensions of their rentals.
• Most renters in Toronto are tourists and are more interested in visiting tourist attractions, capturing excellent photos from the views of their accommodations and other comforts that cushion their stay.



Cleanliness

• Renters are tolerant of the cleanliness deficiencies of the rental.
•  Superb ratings were given to apartments with relatively minor cleaning deficiencies.
•  Reviews read:
• "This is a minor thing, but to provide feedback for continuous improvement: the stove in & out could use a cleaning."
• "Messy cupboards, dirty oven, and crockery, poor kitchen provisions, broken lamp in the master bedroom."

Research Strategy

Basic Rental Factors

• A renters survey report provided by Renx shows what the average renter in select cities in Canada, including Toronto, considers when renting. According to Avison Young’s Managing Director of Investments, Amy Erixon, the survey revealed that affordability was a key rent factor among the respondents which implied that the factors outlined are for the average tenant. The survey involved over 12,000 renters from more than 22 cities in Canada, including Toronto, Calgary, Ottawa, and Edmonton.
• Some top factors renters considered important were soundproof walls (about 90% of renters), washer-in unit (about 90% of renters), balcony (about 89% of renters), reliable internet (about 89% of renters), guest parking (about 89% of renters) abundant natural light (about 88% of renters), air barriers (about 88% of renters), parking lot (about 84% of renters), elevator access (about 83% of renters) and washer & dryer in building (about 82% of renters).
• More than 50% of the renters wanted large units with two or more bedrooms. The survey indicated that about 41% of renters wanted a house with one full bathroom and one powder room, and about 36% of the renters wanted two full bathrooms. About 75% of renters indicated that they would not pay for energy certifications.
• Some locations renters preferred to live nearby were: close to work, grocery stores, outdoor spaces, parks, bus stations, and restaurants. About 34% of renters preferred new purpose-built rental, about 24% preferred a townhouse, and about 14% preferred a condominium.
• The average rent in Toronto is about $1,580 and Narcity reported that only about 10% of the Toronto population can afford a middle-class life.
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  Source
   
• 
  

Valuable Differentiators

•  The Davies reported that only about 5% of the residents of Toronto can afford to rent luxury houses and that there was an increasing demand for luxury condos. Proximity to renowned educational institutions is among the top factors renters consider in Toronto.  
•  Tripadvisor provided information on some top luxury rentals in Toronto and some features in these luxury rentals include multiple bedrooms, multiple bathrooms, a quiet environment, proximity to Downtown Toronto, and easy access to major highways.
•  View the Vibe highlighted that the Toronto luxury rentals in the Entertainment District have various unique offerings, including a steam room, massage rooms, a rooftop infinity pool, sun deck, private cabana lounges, a tranquility whirlpool, yoga, theater, fitness studio, billiards room, spin room, and party room. The property is located across the street from the CN Tower, Roger’s Centre, Ripley’s Aquarium, and it provides a wholesome experience of downtown Toronto.
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  Source
   
• According to Zumper, the rent for multiple bedroom luxury apartments in Toronto ranged from about $1950 to about $3000. 

Introduction

Calgary Homeowner Demographics by Income

• Calgary was the fastest-growing census metropolitan area (CMA) in Canada between the years of 2011-2016 with regard to homeownership. By 2016, 73.0% of the population in Calgary were homeowners. This chart depicts the percentage of homeownership across other major metropolitan areas in Canada in 2016.
• The 2016 Calgary Profile published by Staistics Canada estimates that 71% of the population in Calgary are homeowners. Of this group, 3% of households are part of subsidized housing and 12% are part of core housing needs programs.
• About 60% of households in Calgary that have an annual income of less than $60,000 are overspending more than 30% of their income on housing. Only 8% of households in Calgary with incomes above $60,000 are overspending.

Calgary Renter Demographics by Income

• Based on the 2016 Calgary Profile, 29% of the population in Calgary are renters.
• The Canadian Rental Housing Index (CRHI) has broken down the total number of rental households in Calgary by income quartiles specific to this municipality, and then further divided the data down into the number of bedrooms. This data is depicted in the chart below:
  Source
   
• Based on the above chart, approximately 25% of renters in Calgary make up each income bracket. However, the size of the apartments by number of bedrooms that each income bracket occupies, varies.

Calgary Household Demographics by Income

• Further data from Statistics Canada published in 2017 provided the following estimates for the percentage of residents in Calgary that were overspending on rent based on their respective income brackets:
  Source
   
• The 2016 Calgary Profile also determined that the percentage of homeowners and renters that live in a household based on the type of house are as follows:
  Source
   

Research Strategy

Location

• A beautiful romantic home in Calgary, Alberta, costs $264 per night (higher than the average price in Calgary) is situated downtown, close to an airport. With a 5-star rating on a scale of 5, all reviews associated with the property are positive.
• A renovated condo apartment within an "excellent location" in Calgary, Alberta, worth $230 per night. The apartment has a 5-star rating on a scale of 5, and all reviews associated with it are positive.
• Collectively, the romantic home and renovated condo apartment have up to 15 reviews and are loved by users due to their strategic locations. This review indicates that site is a vital factor that differentiates between rental facilities with high prices (premium prices) and lower prices (basic features) in Calgary as obtainable in other places.
• The average price of a room at Regency Suites Hotel is closer to the average price in Calgary. It is less than $120 per night.
• A review of third-party websites reveals that Regency Suites Hotels and other hotels offering just essential services earn fewer star ratings from users (when compared to other apartments that attract higher rental prices). These reviews often base on hotel locations,

Landlord-Offered Services and Programs

• Amenities differentiate between rental accommodations with average and high-end prices. Hotel Le Germain Calgary is rated exceptional (4.7 on a scale of 5) by 1002 reviewers. A room is rented at an average of $203 per night in Hotel Le Germain Calgary and often gets as high as $540, which is way higher than the average price of rooms in Calgary. Hotel Le Germain Calgary associate the occupants of its more expensive rooms with daily housekeeping and in-room massage,
• None of the averagely priced rental facilities reviewed by this study offer in-room massage,

Amenities

• Based on third-party review websites, Hotel Le Germain Calgary has several amenities not associated with averagely priced rental apartments. These include a spa, and a gym, among other amenities.
• Regency Suites Hotel provides rented accommodation in Calgary, Alberta. It is rated using 1,262 user reviews. It offers basic amenities like an elevator and toiletries with a "very small" bathroom.
• Regency Suites Hotel (like several other hotels with basic amenities) does not provide a pool. Pools may be considered high-end amenities.

Premium Services and Prices

• Regency Suites Hotel (a low-end hotel) does not provide free shuttle services or free parking space. Although their price is less than the fee associated with high-end hotels, they often charge occupants "for parking" on their premises (based on 41 reviews).
• Web reviews show that Calgary Alberta (and other high-end rental properties such as Hotel Le Germain Calgary) do not charge separately for parking space per night. Hotel Le Germain Calgary does not associate an additional fee to the use of its "valet parking" space.

Other Tenants

• High-end rental properties are associated with more time-lapse between the arrival of occupants. This time-lapse ensures less contact with other tenants than averagely priced rental properties in Calgary, Alberta. The high-end renovated condo apartment and a high-end beautiful romantic home get rented to one tenant per time.
• Hotel Le Germain Calgary (a high-end rental hotel) ensures that 48 hours elapse before giving a previously rented room to another tenant. In comparison, Regency Suites Hotel does not indicate (via its website or user review) if there is a 48-hour interval between tenants to decrease contact.

Research Strategy

Rental Factors: Basic Needs

• The Canada Mortgage and Housing Corporation reported that in 2020, the cost of rent for bachelor and for one-bedroom units was about $700 and $845 respectively.
• The Calgary Housing Company (CHC) conducted a tenant satisfaction survey that was completed by about 500 low-to-moderate level renters in Calgary and the results of the survey can be found here. 
• The renters indicated that CHC's low-cost housing made it possible for them to pay other bills and to cater for their families.
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  Source
   
• According to CHC, the renters' satisfaction rate was about 73% and the most satisfied tenants were people aged 18-34 years. The major drivers for the satisfaction were: the state of the houses, the application process, being listened to and treated with respect, and diversity and inclusion.
• The major factors that tenants considered were state of maintenance, safety, garbage management, unruly tenants, proactiveness of the property manager, adequacy of housing options, and pest control.
• A tenant rental survey was conducted by a multi-stakeholder team in 2018 and the survey covered about 24 cities in Canada, including Calgary. The survey revealed that renters would not rent unless a property had a washer/dryer in the building, elevator access, a designated parking space, and a parking lot.

Rental Factors: Value Differentiators

• According to the Canada Mortgage and Housing Corporation, the cost of rent in 2020 for multiple-bedroom units was about $1020.
•  Downtown and Beltline zones had the highest rent for two-bedroom apartments (about $1080 and $1120 respectively) in the city of Calgary and this higher cost was attributed to the fact that both zones were located in the city center.
• The Canada Mortgage and Housing Corporation indicated that the average rent for a two-bedroom condominium apartment was about $209 higher than the average rent for purpose-built units because the former had additional amenities.
•  Calgary Herald highlights the various luxury factors that developers are adding to condo units to attract renters, especially the youthful renters. The luxury factors include availing a 'community coordinator' to assist tenants with booking reservations at restaurants, getting theater tickets, and collecting deliveries, and organizing get-together events where residents meet their neighbors.
• Most developers in Calgary's City Centre are designing units with hotel-like amenities, such as meeting rooms, gyms, party rooms, hot tubs, and concierges. Other offerings include luxury master bedrooms with spa-like bathrooms and distilleries on-site with food halls having several micro food kiosks.
• The Calgary Apartment Reviews provides a case study of a property, the International Hotel in downtown Calgary, that was fully renovated and turned into high-end apartments. The list of luxury amenities found in this renovated facility can be found here.
• A tenant rent survey led by Yardi revealed that tenants considered soundproof walls, washer/dryer in unit, balcony, and high- speed internet as things that were essential and nice to have. The survey revealed that the location factors renters considered were: proximity to grocery stores, outdoor space, bus station, retail shops, restaurants, and workplace.