Rent-free months and gift cards: How Ontario landlords are vying for tenants [Video]

Toronto landlords are trying to lure in tenants with rent-free months, complimentary Wi-Fi and $500 gift cards amid an unprecedented supply of condos and lower rents.

Real-estate market experts say the fierce competition – which extends beyond the Greater Toronto Area – is giving renters more negotiating power, echoing trends last seen during the COVID-19 pandemic.

Two months of free rent, free parking and gift cards for food delivery or public transit are among thousands of dollars’ worth of perks and discounts advertised on Toronto rental listing websites and apps.

While such incentives are ubiquitous in Toronto, landlords in other GTA cities and the Greater Hamilton Area are also locked in a tight contest that benefits renters.

Michael Niezgoda, senior manager of market research and development at Urbanation, a Toronto-based real estate research firm, said a record 29,000 condominium units were completed in the Greater Toronto and Hamilton Area in 2024 and 40 per cent of that …