Looking for predictable rents, standout amenities, and a landlord who’s actually reachable? Purpose-built rentals (PBRs) are designed from the ground up with renters in mind. We’ll break down how they compare to condos, spotlight top options like Sloane by Fitzrovia, and help you decide if this style of living is the right fit.
What Is a Purpose-Built Rental?
Unlike condo rentals—where you’re often dealing with individual owners and inconsistent rules—purpose-built rentals are owned and operated by a single landlord, usually a professional developer or REIT. Everything, from the lease terms to the amenities, is built with tenants in mind.
Key Differences: PBR vs. Condo Rental
| Purpose‑Built Rental | Condo Unit | |
|---|---|---|
| Ownership | One landlord or institution | Individual owner |
| On‑Site Management | Dedicated leasing and maintenance team | Usually managed off‑site by a third party |
| Rent Guidelines | Often exempt from rent caps if built after Nov 2018, but many offer fixed increases | Also exempt, but owners set their own terms |
| Amenities | Designed for renters, consistently maintained | Varies by building and condo board decisions |
| Lease Terms | Uniform, transparent | Can vary widely owner to owner |
Did you know? According to CMHC, purpose-built rental completions in Toronto jumped 47% in 2024. Vacancy sits around just 1.5%—renters are moving fast on these units.
Why More Renters Are Choosing PBRs
Here’s what we regularly hear from our clients:
- Stable Pricing. Developers often include 1- to 2-year rent caps to attract long-term renters.
- Responsive Management. Need repairs? They’re often handled within hours—not weeks.
- Community-Centric Living. Amenities like rooftop lounges, dog runs, and co-working studios cater to your everyday lifestyle.
A recent TRREB Rental Report noted average condo rents rose 8% year-over-year, while most purpose-built buildings kept increases closer to 4%—and many lock that rate in your lease.
Spotlight: Sloane by Fitzrovia
Located just north of Yorkdale, Sloane brings hotel-like amenities together with a residential feel that’s hard to beat:
- Bowling alley & arcade for on-site entertainment
- Doctor’s suite & kids’ playroom for easy scheduling
- PS5 gaming pods with ergonomic setups
- Dog run & pet spa for your four-legged roommate
- Coworking space with fast Wi-Fi and private booths
Quick snapshot: Studios from ~$2,100, two-beds from ~$3,250. TTC Glencairn Station in under 10 minutes. On-site car-share and EV charging available.
Want a full list of amenities or to check current move-in offers? Reach out to the TorontoLivings rental team—we’ve got the details and can set up a tour.
Other Purpose-Built Options Worth a Look
- The Parker (Yonge & Eglinton): Sky-lounge, rooftop pool, and stylish interiors.
- The Selby (Sherbourne & Bloor): Historic charm meets high-end design—plus a dog spa.
- Liberty House (Liberty Village): Social-forward features like a co-lab kitchen and curated events.
Is It Right for You?
Ask yourself:
- Need budget stability? PBRs often include multi-year lease terms.
- Work hybrid or remote? Look for coworking spaces and private meeting pods.
- Got a pet? Many buildings have pet-friendly policies baked in—Sloane is a standout.
- Planning to buy? Flexible lease terms can bridge you to your next move—our Buy Better guide has you covered.
Let’s Find You a Fit
The Toronto rental market is changing fast—and purpose-built rentals are leading the charge. If you’re tired of the condo shuffle or want to know what perks are out there, we can help. Leave us a message below!
Call or DM the TorontoLivings team. We’ll match you with the right building, walk you through the lease, and negotiate the best incentives—so you can move in stress-free.
