scholarly journals Getting to 8,000 : building a healthier rental market for the Toronto Area

2021 ◽  
Author(s):  
Andrew Cohrs ◽  
Michelle German ◽  
Graham Haines
Keyword(s):  
Rental Housing ◽  
Land Values ◽  
Policy Recommendations ◽  
Housing Supply ◽  
Rental Market

This report finds that a combination of high land values, investor demand for condos, and unequal development financing have resulted in developers favouring condominium construction over purpose-built rental units. It makes several policy recommendations to improve rental housing supply in the Toronto Area.

scholarly journals Getting to 8,000 : building a healthier rental market for the Toronto Area

2021 ◽  
Author(s):  
Andrew Cohrs ◽  
Michelle German ◽  
Graham Haines
Keyword(s):  
Rental Housing ◽  
Land Values ◽  
Policy Recommendations ◽  
Housing Supply ◽  
Rental Market

This report finds that a combination of high land values, investor demand for condos, and unequal development financing have resulted in developers favouring condominium construction over purpose-built rental units. It makes several policy recommendations to improve rental housing supply in the Toronto Area.

scholarly journals International Real Estate Review

2013 ◽  
Vol 16 (1) ◽  
pp. 119-133
Author(s):  
Pnina O. Plaut1 ◽  
◽  
Steven E. Plaut ◽  
Keyword(s):  
Human Capital ◽  
Real Estate ◽  
Ethnic Minorities ◽  
Rental Housing ◽  
Residential Property ◽  
Rental Market ◽  
New Immigrants ◽  
The Us ◽  
Rental Property ◽  
Financial Portfolio

The supply of rental housing is by and large provided by landlord households. Little is understood about the factors, beyond financial portfolio considerations, that affect the inclination of people or households to become landlords. Studies of the American rental market have pointed to differences across income, wealth, ethnicity, and education in the willingness to rent out residential property to others. Here, we examine the question for Israel. We find that income and wealth are positively associated with the inclination to be a landlord. Education has an effect in Israel in contrast to the US (and Australia). Human capital in Israel appears to complement with rental property capital, unlike the case for the US and Australia, where they appear to be substitutes. In most cases, rental property in Israel and housing capital in the landlord's primary residence appear to be complementary. Ethnic minorities and new immigrants are under-represented among landlords. For households who own rental property, the income from such rentals is empirically analyzed.

Barriers to Institutional Investment in Rental Housing: A Systematic Review of Market Risks

2021 ◽  
Vol 15 (2) ◽  
pp. 1-15
Author(s):  
Samuel Swanzy-Impraim ◽  
Xin Janet Ge ◽  
Vincent Mangioni
Keyword(s):  
Institutional Investors ◽  
Rental Housing ◽  
Great Influence ◽  
Target Group ◽  
Property Management ◽  
Rental Sector ◽  
Housing Supply ◽  
Institutional Investment ◽  
Housing Investment ◽  
Market Risks

Housing practitioners and policy experts are advocating for an expansion in rental housing supply in contemporary cities around the world. The objective is to convince institutional investors to include rental housing investment in their investment portfolio to contribute to boosting housing supply. Unfortunately, the rental sector is characterized by numerous uncertainties and challenges, making it unattractive to institutional investors. With the growing attention to institutional investors in various housing market contexts, an understanding of the market risks (also known as barriers), is useful to inform future research and policymaking. Using a systematic literature review methodology, this paper synthesizes the extant literature on the market risks inhibiting institutional investment in rental housing. Findings reveal the following barriers: low profitability, non-progressive rent control policies, unclear target group for rented projects, poor landlord-tenant relations, inadequate property management and unreliable property market information. Among all the barriers identified, low profitability and inadequate property management had great influence on their investment decision. Firstly, institutional investors perceive rental housing investment as less profitable and unattractive in terms of project performance. Secondly, the lack of supporting structures for the property management sector contributes to derailing rental yields. The review also finds that the target group for rental projects are often vague especially for projects under government assistance. The rental sectors in many countries are confronted with numerous problems, some of which greatly inhibit institutional investors from investing in the rental asset. This paper concludes that, although the idea of expanding rental housing supply seems laudable, ignoring these problems may be detrimental to housing markets in the long run. Rental markets in many countries are volatile, and thus not ready to receive institutional investors fully into the sector. An expanded rental sector could be advanced if policy makers take the appropriate steps to resolve the identified challenges. Adequate structural preparations must also be made for large scale rental housing supply.

scholarly journals Housing Vouchers and the Price of Rental Housing

2015 ◽  
Vol 7 (3) ◽  
pp. 154-176 ◽  
Author(s):  
Michael D. Eriksen ◽  
Amanda Ross
Keyword(s):  
Rental Housing ◽  
Housing Supply ◽  
Housing Vouchers ◽  
Price Increases ◽  
American Housing Survey ◽  
Housing Survey ◽  
Housing Units

We estimate the effect of increasing the supply of housing vouchers on rents using a panel of housing units in the American Housing Survey. We do not find that an increase in vouchers affected the overall price of rental housing but do estimate differences in effects based on an individual unit's rent before the voucher expansion. Our results are consistent with voucher recipients renting more expensive units after receiving the subsidy. We also find that the largest price increases were for units near the maximum allowable voucher rent in cities with an inelastic housing supply. (JEL H23, I38, R31, R38)

scholarly journals Urban productivity and affordable rental housing supply in Australian cities and regions

2021 ◽  
Author(s):  
Nicole Gurran ◽  
Kath Hulse ◽  
Jago Dodson ◽  
Madeleine Pill ◽  
Robyn Dowling ◽  
...  
Keyword(s):  
Rental Housing ◽  
Labour Markets ◽  
Housing Supply ◽  
Capital Cities ◽  
Urban Productivity

This study examined relationships between urban productivity and affordable rental housing, focusing particularly on the location and availability of affordable rental housing relative to employment and labour markets in Australia’s capital cities and satellite cities.

The Impact of the COVID-19 Pandemic on the Private Rental Housing Market in Poland: What Do Experts Say and What Do Actual Data Show?

2021 ◽  
Vol 8 (1) ◽  
pp. 24-35
Author(s):  
Mateusz Tomal ◽  
◽  
Bartłomiej Marona ◽  
Keyword(s):  
Real Estate ◽  
Rental Housing ◽  
Objective Data ◽  
Rental Market ◽  
The Third ◽  
Real Estate Agents ◽  
The Impact ◽  
The City ◽  
Second Wave ◽  
Rental Housing Market

The aim of the article is to determine the impact of the COVID-19 pandemic on the level of housing rents using the example of the City of Krakow. This study is based on objective data on rental prices and subjective information obtained from real estate agents using a questionnaire survey. The research revealed that the first wave of the COVID-19 pandemic actually led to a 6-7% decrease in prices in the rental market in Krakow, while at the same time the surveyed real estate agents had estimated that rents would drop by about 13%. With the second wave of the pandemic, it is possible to see that its immediate impact, i.e. between the third and fourth quarter of 2020, has led to a further 6.25% drop in rents. It should be noted that the latter decrease was very accurately predicted, both by the survey respondents and by the econometric models used. Finally, the results of the analysis also indicated that the worsening of the pandemic in the last quarter of 2020 will have a significant impact on rent levels in Krakow for all of next year. Regardless of how the economy develops, rental prices are forecast to fall further in 2021q1. However, in the subsequent quarters of 2021, rents are projected to increase, but ultimately their level will not return to pre-pandemic values even in 2021q4. The latter is likely to happen only in the second half of 2022.

hort-term Rentals, Housing Markets and COVID-19: Theoretical Considerations and Empirical Evidence from Four Austrian Cities

2020 ◽  
Vol 7 (2) ◽  
pp. 47-57
Author(s):  
Justin Kadi ◽  
Antonia Schneider ◽  
Roman Seidl
Keyword(s):  
Rental Housing ◽  
Housing Demand ◽  
Ongoing Research ◽  
Rental Market ◽  
The Media ◽  
Current Shift ◽  
Theoretical Considerations ◽  
Rental Housing Market ◽  
A Current

Prior to the onset of the pandemic, evidence on the conversion of regular rental housing into permanent holiday homes has fuelled concerns that Airbnb and other short-term rentals contribute to the shortage of affordable homes and to the displacement of regular residents in cities with high housing demand. When the pandemic set in, the media was quick to speculate that holiday homes would be returned to the regular rental market. This paper provides some theoretical reflections on the factors that are driving and impeding such a development and presents preliminary results from an ongoing research project that empirically traces the impacts of COVID-19 on the rental housing market based on an analysis of real estate listings in four large Austrian cities. We argue that a current shift to the regular rental market is likely, but that the medium- and long-term development is uncertain. Empirically, we demonstrate that such a shift has occurred in all four cities considered. We do not find evidence, however, that the increased rental housing supply has dampened rent levels.

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