July 8, 2025 • 7 mins
In this episode, Sandy MacKay introduces the topic of rent caps and their impact on the Ontario market, providing a comprehensive overview of current regulations and trends. The discussion progresses to updates on rental housing development, with a focus on ongoing projects in Ontario and Montreal. Sandy highlights the latest developments and potential implications for investors and renters alike. The episode also features a segment from the sponsor, SnapInspect, before concluding with Sandy's closing remarks, summarizing the key points and offering insights into the evolving landscape of rental housing in these regions.
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Episode Transcript
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(00:00):
Have you ever wondered how rent caps affect themultifamily real estate market?
(00:04):
Welcome to the Multifamily Real Estate InsightsPodcast.
I'm your host, Sandy MacKay.
Let's get right to it.
In an update that impacts all of Ontario, theprovincial government has announced a new rent
cap for 2026, set at 2.1 percent.
This is the tightest cap in four years,lowering from the previous three years where it
(00:27):
was held at 2.5 percent.
According to a report by the BurlingtonGazette, this decision comes amid a backdrop of
economic uncertainty fueled by ongoing tradetensions, which have particularly affected
those paying their shelter costs month tomonth.
Minister of Municipal Affairs and Housing, RobFlack, emphasized the government's commitment
(00:49):
to protecting tenants across the province bykeeping costs down.
The rent cap applies to approximately 1.4million households in Ontario, although it
excludes rental units first occupied afterNovember 15, 2018, vacant residential units,
community housing, long-term care homes, andcommercial properties.
(01:11):
Interestingly, while the cap limits how muchlandlords can increase rent without applying
for above guideline rent increases through theLandlord and Tenant Board, it does not make
rent increases automatic or mandatory.
Landlords can only raise rent twelve monthsafter the last increase and must provide ninety
days' written notice to tenants.
The Ontario government's press release alsohighlighted progress in rental housing
(01:35):
development, with 6,977 rental starts recordedbetween January and May 2025.
This marks a 25 percent increase over the sameperiod in 2024, showcasing what the government
describes as a robust plan to acceleratehousing construction.
In an exciting development for the GreaterMontreal area, Groupe HD, Kastello Immobilier,
(01:59):
and CPD Immobilier have teamed up to redevelopa site in Montreal's Saint-Michel
neighbourhood.
The project, which represents an investment ofover $150 million, will transform the site at
2601 Jarry Street East into a six-storeymixed-use complex featuring 380 rental units
and over 20,000 square feet of commercialspace.
(02:21):
According to a press release, nearly 40 ofthese residential units will be designated as
affordable housing, demonstrating the partners'commitment to addressing the housing needs of
the community.
Mathieu Colette, partner and vice president ofreal estate at Kastello, emphasized this aspect
of the project.
Thomas Dufour, co-president of Groupe HD,highlighted the company's dedication to
(02:45):
creating sustainable living environments thatalign with the transformation of neighbourhoods
and the residents who call them home.
The project's strategic location within walkingdistance of the Saint-Michel metro station and
Frédéric-Back Park adds to its appeal.
Construction is scheduled to begin at the endof 2025, with Construction Praxis, a division
of Groupe HD, handling the build.
(03:07):
While an expected completion date has not beenprovided, the project's integration of
residential and commercial spaces is expectedto enhance the area's urban density and
livability.
Groupe HD has been making waves in the realestate scene since its founding in 2020, having
been involved in projects totaling over 3,000residential units.
(03:27):
Their collaboration with Kastello is not new,as the two companies have previously partnered
on significant redevelopment projects in theGreater Montreal area.
Kastello, a family-owned company, is an activeplayer in the real estate market with over
1,700 rental units in its portfolio.
Their diverse range of residential, industrial,and office properties underscores their
(03:52):
expertise and commitment to quality.
CPD brings its experience as a developer andmanager of open-air lifestyle centers to the
table, with properties spanning the GreaterMontreal, Ottawa, and Toronto areas.
Their portfolio exceeds two million square feetof gross leasable area, illustrating their
significant footprint in the real estatesector.
(04:14):
In a groundbreaking move for the propertymanagement industry, SnapInspect is setting a
new standard in property inspection softwarewith its AI-powered automation tailored for
multifamily and commercial real estate.
As reported by The Manila Times, thisinnovative software is revolutionizing the way
inspections, reporting, and maintenanceworkflows are conducted across multifamily and
(04:36):
commercial portfolios.
With a fully customizable platform, SnapInspectoffers property managers increased speed,
accuracy, and intelligence in their operations.
It's gaining trust from industry leaders acrossthe United States and Canada, helping to reduce
time spent in the field while enhancingoperational visibility and compliance.
(04:58):
Terry Sun, Chief Technology Officer ofSnapInspect, highlighted the software's AI
integration, saying, "Property managers don'tjust want faster inspections; they want smarter
inspections." This approach eliminatesrepetitive tasks, uncovers patterns in
inspection data, and provides operators withbetter control at scale.
(05:19):
It's truly property inspection software thatthinks ahead.
Some of the standout features of SnapInspect'sproperty inspection software include
AI-assisted report generation, predictive issuetagging to flag potential maintenance risks,
and smart photo sorting and annotation toorganize evidence and accelerate workflows.
(05:39):
These advancements, coupled with robustcustomization options, mobile access, and work
order tracking, are redefining modern propertyinspection capabilities.
Built specifically for multifamily housing,commercial property portfolios, and Homeowners
Association communities, SnapInspect stands asthe go-to solution for modern property
(06:01):
operators.
It offers a premium user experience withfeatures like full offline capability for field
teams, custom-branded auto-generated reports,and seamless work order creation and tracking.
The software also provides role-based accesscontrols for teams and vendors,
enterprise-ready integrations and API access,historical data trend tracking for asset
(06:25):
performance, and real-time maintenancedashboards for portfolio-wide visibility.
These features enable property managers toscale smarter, not harder, making SnapInspect a
leader in the field.
With world-class onboarding and five-starcustomer support, SnapInspect empowers property
managers to navigate the complexities ofmultifamily and commercial real estate
(06:47):
inspections with ease.
This software is truly setting a new benchmarkfor the industry.
Thank you for listening to the Multifamily RealEstate Insights Podcast.
I'm your host, Sandy MacKay.
See you on the next one.
Have you ever wondered how rent caps affect themultifamily real estate market?
(00:04):
Welcome to the Multifamily Real Estate InsightsPodcast.
I'm your host, Sandy MacKay.
Let's get right to it.
In an update that impacts all of Ontario, theprovincial government has announced a new rent
cap for 2026, set at 2.1 percent.
This is the tightest cap in four years,lowering from the previous three years where it
(00:27):
was held at 2.5 percent.
According to a report by the BurlingtonGazette, this decision comes amid a backdrop of
economic uncertainty fueled by ongoing tradetensions, which have particularly affected
those paying their shelter costs month tomonth.
Minister of Municipal Affairs and Housing, RobFlack, emphasized the government's commitment
(00:49):
to protecting tenants across the province bykeeping costs down.
The rent cap applies to approximately 1.4million households in Ontario, although it
excludes rental units first occupied afterNovember 15, 2018, vacant residential units,
community housing, long-term care homes, andcommercial properties.
(01:11):
Interestingly, while the cap limits how muchlandlords can increase rent without applying
for above guideline rent increases through theLandlord and Tenant Board, it does not make
rent increases automatic or mandatory.
Landlords can only raise rent twelve monthsafter the last increase and must provide ninety
days' written notice to tenants.
The Ontario government's press release alsohighlighted progress in rental housing
(01:35):
development, with 6,977 rental starts recordedbetween January and May 2025.
This marks a 25 percent increase over the sameperiod in 2024, showcasing what the government
describes as a robust plan to acceleratehousing construction.
In an exciting development for the GreaterMontreal area, Groupe HD, Kastello Immobilier,
(01:59):
and CPD Immobilier have teamed up to redevelopa site in Montreal's Saint-Michel
neighbourhood.
The project, which represents an investment ofover $150 million, will transform the site at
2601 Jarry Street East into a six-storeymixed-use complex featuring 380 rental units
and over 20,000 square feet of commercialspace.
(02:21):
According to a press release, nearly 40 ofthese residential units will be designated as
affordable housing, demonstrating the partners'commitment to addressing the housing needs of
the community.
Mathieu Colette, partner and vice president ofreal estate at Kastello, emphasized this aspect
of the project.
Thomas Dufour, co-president of Groupe HD,highlighted the company's dedication to
(02:45):
creating sustainable living environments thatalign with the transformation of neighbourhoods
and the residents who call them home.
The project's strategic location within walkingdistance of the Saint-Michel metro station and
Frédéric-Back Park adds to its appeal.
Construction is scheduled to begin at the endof 2025, with Construction Praxis, a division
of Groupe HD, handling the build.
(03:07):
While an expected completion date has not beenprovided, the project's integration of
residential and commercial spaces is expectedto enhance the area's urban density and
livability.
Groupe HD has been making waves in the realestate scene since its founding in 2020, having
been involved in projects totaling over 3,000residential units.
(03:27):
Their collaboration with Kastello is not new,as the two companies have previously partnered
on significant redevelopment projects in theGreater Montreal area.
Kastello, a family-owned company, is an activeplayer in the real estate market with over
1,700 rental units in its portfolio.
Their diverse range of residential, industrial,and office properties underscores their
(03:52):
expertise and commitment to quality.
CPD brings its experience as a developer andmanager of open-air lifestyle centers to the
table, with properties spanning the GreaterMontreal, Ottawa, and Toronto areas.
Their portfolio exceeds two million square feetof gross leasable area, illustrating their
significant footprint in the real estatesector.
(04:14):
In a groundbreaking move for the propertymanagement industry, SnapInspect is setting a
new standard in property inspection softwarewith its AI-powered automation tailored for
multifamily and commercial real estate.
As reported by The Manila Times, thisinnovative software is revolutionizing the way
inspections, reporting, and maintenanceworkflows are conducted across multifamily and
(04:36):
commercial portfolios.
With a fully customizable platform, SnapInspectoffers property managers increased speed,
accuracy, and intelligence in their operations.
It's gaining trust from industry leaders acrossthe United States and Canada, helping to reduce
time spent in the field while enhancingoperational visibility and compliance.
(04:58):
Terry Sun, Chief Technology Officer ofSnapInspect, highlighted the software's AI
integration, saying, "Property managers don'tjust want faster inspections; they want smarter
inspections." This approach eliminatesrepetitive tasks, uncovers patterns in
inspection data, and provides operators withbetter control at scale.
(05:19):
It's truly property inspection software thatthinks ahead.
Some of the standout features of SnapInspect'sproperty inspection software include
AI-assisted report generation, predictive issuetagging to flag potential maintenance risks,
and smart photo sorting and annotation toorganize evidence and accelerate workflows.
(05:39):
These advancements, coupled with robustcustomization options, mobile access, and work
order tracking, are redefining modern propertyinspection capabilities.
Built specifically for multifamily housing,commercial property portfolios, and Homeowners
Association communities, SnapInspect stands asthe go-to solution for modern property
(06:01):
operators.
It offers a premium user experience withfeatures like full offline capability for field
teams, custom-branded auto-generated reports,and seamless work order creation and tracking.
The software also provides role-based accesscontrols for teams and vendors,
enterprise-ready integrations and API access,historical data trend tracking for asset
(06:25):
performance, and real-time maintenancedashboards for portfolio-wide visibility.
These features enable property managers toscale smarter, not harder, making SnapInspect a
leader in the field.
With world-class onboarding and five-starcustomer support, SnapInspect empowers property
managers to navigate the complexities ofmultifamily and commercial real estate
(06:47):
inspections with ease.
This software is truly setting a new benchmarkfor the industry.
Thank you for listening to the Multifamily RealEstate Insights Podcast.
I'm your host, Sandy MacKay.
See you on the next one.
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