REVENUE OPTIMIZATION & DEVELOPMENT PROGRESS
Q4-2020
GROWING MARKET RENTS
Apt Same Property Avg Rental
Rate Increase
2.7%
3.6%
3.4% 3.0%
3.7%
2018
2019
2020
2021
2022
Apt Same Property
Incentive Offerings (2)
Q1-2021
Q2-2021
Q3-2021
Q4-2021
Q1-2022
0.7%
0.7%
0.6%
0.5%
(2) Measured as a percentage of residential rent.
Q2-2022
Q3-2022
Q4-2022
4%
2%
of ove do
6%
8%
10%
3.5%
12%
2.8%
Weighted Average Rental Increases Achieved by Quarter
Upon Lease Renewal
Upon Unit Turn
■Combined
Average Increase %
For tenants with lease renewals
in Q4, rents increased by 2.1%.
For new tenants moved in during
Q4, rents increased 12.4%
3.3%
2.9%
3.1%
3.4%
3.0%
0%
Q2-2020 Q3-2020 Q4-2020 Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Q2-2022 Q3-2022 Q4-2022
Latitude, Ottawa
2.3%
3.7%
•
•
•
•
Net Consolidated Same Property
Revenue Growth of 5.0% in 2022
Apt rental rate growth of 3.7%
Apt occupancy increase of 130 bps
MHC revenue growth of 7.7%,
including 12.7% for seasonal resorts
Commercial revenue growth of
6.3% with increased occupancy
March 2023 | Page 14
4.2%
4.3%
-Killam
APARTMENT REITView entire presentation