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In the before times, property managers in Toronto had a lot of power. Vacancy rates were so low (about 1.1 per cent) that if a decent unit opened up, renters were willing to do anything to secure the lease. But, of course, things have changed. A recent report showed that Toronto’s vacancy rate hit a 50-year high (about 5.7 per cent), forcing landlords to offer major incentives in order to attract tenants. We asked a few property managers and real estate execs which perks they’re offering right now.
Adrian Rocca, chief executive officer, Fitzrovia Real Estate
What he manages: Two new purpose-built rental buildings ready for April 1: the Waverly, at College and Spadina; the Brixton, at Queen and Dufferin