Purpose-Built
Rentals.
Not all rentals are the same. Purpose-built apartments, condo rentals, and houses each come with different rules, costs, and trade-offs. Understanding the differences helps you find the right fit — and avoid surprises after you move in.
A purpose-built rental (PBR) is a residential building that was designed and constructed specifically to house tenants. Unlike condos — where individual investors buy units and lease them out — every unit in a purpose-built rental is owned by a single company or REIT (Real Estate Investment Trust) and managed professionally.
These buildings are sometimes called apartment buildings or rental apartments. They typically have on-site building management, dedicated maintenance staff, and consistent policies across all units.
Purpose-built rentals make up a significant portion of Ontario's rental housing stock, especially in Toronto, Mississauga, and other GTA cities. Many were built in the 1960s through 1980s, though a new wave of modern PBRs has been built since 2018.
The key distinction: in a PBR, your landlord is a professional property management company, not an individual investor. This affects everything from how maintenance requests are handled to whether your rent is controlled.
| Category | Purpose-Built Rental | Condo Rental | House / Townhouse |
|---|---|---|---|
| Rent Control | Most units are rent controlled (pre-2018 buildings). Newer PBRs (post-Nov 15, 2018) are exempt. | Depends on first occupancy date. Many newer condos are exempt from rent control. | Depends on first occupancy date. Older homes are typically rent controlled; newer builds may be exempt. |
| Maintenance | Handled by on-site staff or professional management company. Usually fast and reliable. | Handled by the individual landlord. Response times vary widely depending on the owner. | Handled by the individual landlord. Can range from excellent to non-responsive. |
| Amenities | Common areas, laundry, gym, pool, and party rooms are standard in many buildings. | Often includes gym, pool, concierge, rooftop, and party room. Amenity fees may apply. | Typically no shared amenities. Private yard, garage, or driveway may be included. |
| Building Management | Professional property management company with on-site superintendent. | Condo board manages common areas. Individual landlord manages the unit. | No building management. Landlord is your sole point of contact. |
| Noise & Privacy | Varies by building age. Older PBRs can have thinner walls. Newer builds are well insulated. | Generally good sound insulation in newer condos. Concrete construction helps. | Best privacy and noise separation. Detached houses offer the most quiet. |
| Parking | Often included or available at a monthly fee. Underground parking is common. | Usually available but may cost extra. One spot is typical; two is rare. | Driveway or garage usually included. Street parking may also be available. |
| Typical Cost | Generally the most affordable option, especially in older rent-controlled buildings. | Mid-to-high range. Prices reflect newer finishes and condo amenities. | Highest cost for comparable space. Premium for privacy and square footage. |
In Ontario, rent control applies to most residential rental units that were first occupied before November 15, 2018. This means the landlord can only increase rent once per year by the amount set by the provincial guideline — 2.5% for 2025.
The vast majority of purpose-built rental buildings in the GTA were constructed well before this date, which is why most PBRs are rent controlled. This is one of their biggest advantages for tenants looking for long-term affordability.
Units first occupied on or after November 15, 2018 are exempt from rent control. This includes many newer purpose-built rentals and most recently built condos. In these units, landlords can raise rent by any amount with 90 days written notice once per 12-month period.
Before signing a lease, always confirm when the unit was first occupied — not when the building was built, but when the specific unit first had a tenant. For a full breakdown, see our Rent Control Guide.
Search Strategies
Purpose-built rentals are not always listed on the MLS or popular listing sites. Many large landlords list vacancies exclusively on their own websites. Check CAPREIT, Minto, Hazelview, and Starlight directly, as well as smaller regional operators.
You can also search platforms like Rentals.ca, PadMapper, and Zumper which aggregate PBR listings. Filter for "apartment" rather than "condo" to narrow results.
Work With an Agent
A licensed real estate agent who specializes in rentals can access both MLS listings and off-market inventory. Many PBR landlords work directly with agents and offer units before they hit public listings.
Our service at TheRentalMarket.ca is completely free for tenants — the landlord pays the commission. We help you search across all rental types, prepare your application, and negotiate lease terms.
Define Your Priorities
Decide what matters most: rent control, modern finishes, location, or building amenities. This will narrow your search to the right type of rental. If long-term affordability is the priority, focus on older PBRs with rent control.
Search Multiple Channels
Don't rely on a single listing site. Check landlord websites directly, search Rentals.ca and PadMapper, browse the MLS via an agent, and look at community boards in target neighbourhoods. PBR vacancies can appear anywhere.
Ask the Right Questions
Before signing, confirm: Is this unit rent controlled? When was the unit first occupied? What utilities are included? Is parking extra? What is the building's maintenance request process? These answers differ significantly between PBRs, condos, and houses.
Prepare Your Application
Have your documents ready before you start viewing. PBR landlords often process applications quickly and first-come, first-served applies. A complete application package gives you an edge. See our Supporting Documents guide.
Right Rental for You.
Whether you're looking for a rent-controlled apartment, a modern condo, or a house — we help GTA renters find and secure the right unit. Completely free for tenants.
Apply Now →A purpose-built rental is a residential building that was designed and constructed specifically for renting. Unlike condos that individual investors buy and lease out, every unit in a PBR is owned by a single company or REIT and managed professionally. These buildings are sometimes called apartment buildings or rental apartments.
Most purpose-built rentals in Ontario are rent controlled because the majority were built before November 15, 2018. Units first occupied before that date are subject to the annual rent increase guideline. However, newer PBRs first occupied on or after that date are exempt from rent control, meaning landlords can raise rent by any amount with 90 days written notice. See our Rent Control Guide.
A purpose-built rental is owned and managed by a single company, with on-site property management and maintenance staff. A condo rental is an individually owned unit where the owner (an investor) leases it out. Condo rentals are subject to condo board rules, may have restrictions on guests, and the landlord is an individual rather than a professional management company. Maintenance quality varies by landlord.
Search major PBR landlords like CAPREIT, Minto, Hazelview, and Starlight directly on their websites. Use platforms like Rentals.ca and PadMapper to find aggregated listings. You can also work with a licensed real estate agent who specializes in rentals — agents have access to both MLS listings and off-market inventory. Our service at TheRentalMarket.ca is free for tenants.
Purpose-built rentals are often more affordable than equivalent condo rentals, especially older buildings with rent-controlled units. However, newer luxury PBRs can be comparable to or even more expensive than condos. The trade-off is that PBRs typically include more consistent maintenance, on-site management, and predictable rent increases if they are rent controlled.