Strategic Collaboration Bridges the Rental Gap, Providing Essential Tools for Real Estate Professionals to Thrive in the Competitive Toronto Rental Landscape
Boston, MA (November 8, 2023) - In a landmark move that promises to reshape the Greater Toronto Area (GTA) rental market, Rental Beast® and the Toronto Regional Real Estate Board (TRREB), Canada’s largest real estate board, are bridging the gap between real estate professionals and the burgeoning rental market. This is a strategic collaboration as Rental Beast works to create the largest marketplace for rental properties in Canada. It also provides REALTORS® with valuable tools and resources to better serve renters and navigate the competitive GTA rental space.
TRREB’s 2023 Q3 Rental Market Report illustrates the urgency of this collaboration, showing a 22 percent increase in available rentals in recent months. A strong demand for rental units continues to grow in the GTA, as many new permanent and temporary residents have also turned to the rental market for housing. Notably, this growth in the rental sector is happening against a 7 percent decline in total home ownership transactions.
"It is encouraging to see strong growth in rental listings. As the population continues to increase at a record pace, rental housing is a key piece of the overall housing puzzle,” said Paul Baron, TRREB President. “Our collaboration with Rental Beast provides REALTORS® with the tools and insights they need to excel in this competitive environment and build stronger relationships with future homebuyers."
The platform includes:
"This collaboration is a pivotal step in enhancing the already strong relationship between REALTORS® and renters,” said Ishay Grinberg, Rental Beast CEO and Founder. “By offering more resources and creating more efficient market data, we are enhancing opportunities for real estate professionals to succeed and cultivate lasting relationships with their clients."
This collaboration marks Rental Beast’s first expansion outside of the U.S. and supports the company's mission to empower and serve all real estate professionals in their pursuit of helping future homebuyers.
About the Toronto Regional Real Estate Board (TRREB)
The Toronto Regional Real Estate Board (TRREB) is Canada’s largest real estate board with over 75,000 residential and commercial professionals connecting people, property and communities. TRREB is the collective voice for both its commercial and residential REALTOR® Members and operates under the direction of an elected voluntary Board of 14 Directors.
About Rental Beast
Rental Beast is a leading real estate technology firm with an end-to-end SaaS platform designed to empower real estate professionals and the nation's most comprehensive database of nearly eleven million rental properties. Sourced directly from property owners, updated in real time, and offering a fulfillment-grade rental dataset, the Rental Beast database provides real estate professionals with an unparalleled view of all properties and owner types.
Utilizing a seamless and secure integration, participating MLS® System providers and REALTOR® Associations can capture thousands of properties, and leverage essential search, data ingestion, and maintenance systems needed to help member agents, subscribers and their clients efficiently navigate the rental market.
Rental Beast is recognized and supported by Second Century Ventures, the capital and strategic growth arm of the National Association of REALTORS®, and is a proud member of the 2022 REACH-Canada program. Learn more at rentalbeast.com/MLS.
Media Contacts:
For TRREB: Maria Karafilidis 416 443 8139 or maria.karafilidis@trreb.ca
For Rental Beast: Rebecca Hickey 913-544-9311 or rebecca.hickey@rentalbeast.com
