What iRent does

InterRent REIT is a Canadian growth-oriented real estate investment trust focused on acquiring, owning, managing, and repositioning income-producing multi-residential properties. Its portfolio spans 126 communities and more than 13,000 suites across Ontario, Quebec, and British Columbia, serving approximately 20,000 residents with apartment rentals branded under Aspire (premium) and Life (standard), supplemented by Short-Term & Corporate Rentals and a Luxury Apartments tier. The company is publicly traded on the Toronto Stock Exchange under ticker IIP.UN, headquartered in Ottawa, and managed by approximately 500 team members.

The underlying operating platform combines direct-to-consumer leasing via irent.com (rent calculator, virtual tours, no-agent-fee leasing) with a Securecafe-powered resident portal for maintenance, payments, and community information. Technology infrastructure emphasizes sustainability rather than software differentiation: ISO 50001-aligned Energy Management Systems across 66 communities (41% of portfolio by gross floor area), 208 EV charging stations at 62 communities, 100% third-party building certification (82% Canadian Certified Rental Building, 18% BOMA BEST), and a GRESB 3-star rating with an 81 GRESB score in 2024.

Revenue is generated primarily through monthly residential rental income, with portfolio-wide average monthly rent of $1,749 (up 2.8% YoY) and same-property NOI of $158.1M for full year 2025. The REIT also generates ancillary revenue through ancillary services and distributes cash monthly to unitholders. As of 2025-2026, InterRent is subject to a definitive arrangement agreement to be acquired by Carriage Hill Properties Acquisition Corp. (owned by CLV Group and GIC) in an all-cash transaction valued at approximately $4.0 billion including net debt, expected to close in H1 2026.

Name

iRent

Legal name

InterRent Real Estate Investment Trust

Website

https://irent.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Residential Rental / Multi-family REIT

NAICS

Offices of Real Estate Agents and Brokers (5312)

SIC

Real Estate Investment Trusts (6798), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

akta.pro secondary industry

Traditional Residential Brokerage (Existing Homes) (BPAJAAAA)

Keywords

• Apartment rentals
• Multi-residential properties
• Residential REIT
• Rental property management
• Income-producing real estate

Headquarters

HQ city

Ventura

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Residential Rental Income: Monthly rental income from approximately 13,000 multi-residential suites across 126 communities in Ontario, Quebec, and British Columbia. Revenue generated from apartment rentals ranging from studios to three-bedroom suites, with average monthly rent of $1,749 as of 2025. Same-property NOI of $158.1 million for full year 2025.
2. Unitholder Distributions: Monthly cash distributions to unitholders. Distribution Reinvestment Plan was suspended effective December 16, 2024. Total distributions of $0.3969 per Unit for 2025 taxation year (85% net capital gains, 15% non-taxable return of capital).

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

InterRent REIT acquires, owns, manages, and repositions income-producing multi-residential apartment properties, operating 126 communities with over 13,000 suites across Ontario, Quebec, and British Columbia. The portfolio is marketed under two branded tiers — Aspire (premium modern living) and Life (standard everyday housing) — and serves approximately 20,000 residents via direct-to-consumer online leasing through irent.com, with no agent fees and monthly recurring rental income.

Product overview

InterRent REIT operates as a growth-oriented real estate investment trust focused on delivering value to Unitholders through the strategic acquisition, ownership, management, and repositioning of income-producing multi-residential properties. The company's core product is its apartment rental portfolio of 126 communities spanning over 13,000 suites across Ontario, Quebec, and British Columbia. The portfolio is organized under branded sub-products: the Aspire brand offers premium, high-end living experiences with modern finishes and contemporary design, while the Life brand provides quality everyday living with clean, secure, and well-maintained homes. Residents can choose from diverse unit types including studios, one-to-three-bedroom suites, townhomes, and short-term or corporate rentals, as well as luxury apartments in select high-rises with premium amenities. The company supports its residential operations with digital tools including a Rent Calculator for financial planning and a Resident Portal for maintenance requests and rent payments.

Differentiator

Problem solved

Functional benefit

Products and services

• Apartment Rentals Core multi-residential apartment rental product spanning 126 communities and over 13,000 suites across Ontario, Quebec, and British Columbia. Serves approximately 20,000 residents with studio, one-to-three-bedroom suites, and townhomes delivered through the irent.com direct-leasing platform with no agent fees.
• Aspire (Premium Apartment Brand) Premium apartment sub-brand offering modern finishes, contemporary design, and elevated lifestyle amenities across participating communities such as 170 René-Lévesque, LIV Apartments, 360 Laurier, The Slayte, 8405 Place Saint-Charles, and 3583 Kingsway.
• Life (Standard Apartment Brand) Standard apartment sub-brand offering clean, secure, and well-maintained suites with everyday amenities across participating communities such as Battleford & Glen Erin, Hanover Road, 100 Main, Stoney Creek, 165 Ontario, 1025 Sherbrooke, and Forest Ridge.
• Short-Term & Corporate Rentals Flexible short-term and transitional living options for residents seeking temporary housing, including corporate rental accommodations, delivered through the livextendedstay.com channel.
• Luxury Apartments Upscale residential units found in select high-rise buildings featuring modern premium finishes and enhanced amenities such as concierge services, rooftop terraces, and smart building technology.

Quantifiable outcome

• Same-property NOI increased 1.0% to $39.9 million in Q4 2025 and 2.1% to $158.1 million for full year 2025
• +6 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Dave Nevins (Interim CEO)coreOthers · 18 March 2026Dave Nevins, currently Chief Operating Officer, appointed Interim CEO effective March 23, 2026 following Brad Cutsey's resignation as CEO and President after ten-year tenure. Transition occurs as InterRent advances proposed Arrangement Agreement with Carriage Hill Properties.
• NRCan (Natural Resources Canada)coreStrategic or Co-development Partner · 1 January 2024InterRent participates in NRCan's '50001 Ready' program with 66 communities (41% of portfolio by gross floor area) enrolled in the energy management system program aligned with ISO 50001 standards.
• TSX Trust CompanycoreOthersTSX Trust Company serves as transfer agent for InterRent REIT at 200 University Avenue, Suite 300, Toronto, ON M5H 4H1. Provides unitholder services including distribution payments and unitholder record management.
• Canadian Certified Rental Building (CRB) ProgramcoreStrategic or Co-development Partner82% of InterRent's multifamily communities verified under the Canadian Certified Rental Building (CRB) program, with 18% verified under BOMA BEST, achieving 100% third-party building certification coverage.

Scale indicators12 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Tricon Residential: Previously a TSX-listed single-family and multifamily rental REIT (acquired by Blackstone in 2024). Historically comparable in the Canadian residential rental thesis, though with a stronger single-family rental tilt.
• Centurion Apartment REIT: Privately held Canadian multi-residential REIT with thousands of suites across Ontario and Western Canada. Directly comparable private peer pursuing a similar acquisition and repositioning strategy.
• Boardwalk REIT: Canadian multi-family REIT with ~33,000 units concentrated in Alberta, Ontario, Quebec, and Saskatchewan. Directly comparable business model of owning and operating garden-style and mid-rise apartment communities.
• Minto Apartment REIT: Toronto-based multi-residential REIT with ~13,000+ suites concentrated in Ontario, Quebec, and Western Canada. Closely comparable in scale, geography, and mid-rise/luxury product mix (e.g., LEED-certified developments).
• Killam Apartment REIT: Atlantic Canada-anchored multi-residential REIT with ~17,000+ apartments across 10 provinces, including Ontario and Quebec. Direct peer with overlapping footprint and similar acquisition-driven growth strategy.
• Starlight Investments: Toronto-based private Canadian residential real estate owner and asset manager with a multi-thousand-unit portfolio. Direct peer with overlapping geography and value-add repositioning strategy.
• CAPREIT (Canadian Apartment Properties REIT): Canada's largest multi-residential REIT, operating 65,000+ suites across Canada. Direct peer in the same Canadian apartment rental category with the same multi-family acquisition and capital recycling model.
• Morguard North American Residential REIT: Canadian REIT owning ~10,000+ suites in Alberta, Ontario, and Quebec. Comparable multi-residential strategy and investor base, though smaller scale than InterRent.

Broad incumbents

• GIC (Real Estate): Singapore sovereign wealth fund backing the Carriage Hill acquisition of InterRent. Operates broadly across global real estate, including Canadian multi-residential, and provides direct comparability as the institutional counterparty to InterRent's largest transaction.

Regional players

• CLV Group: Co-acquirer of InterRent through Carriage Hill Properties Acquisition Corp. and a major Canadian multi-residential owner/operator. Regional player directly involved in the $4.0B transaction.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@interrentreit
• Facebookfacebook.com/irent
• LinkedInlinkedin.com/company/irent-com
• Instagraminstagram.com/interrentreit
• TikToktiktok.com/@interrentreit
• Xx.com/irent

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about iRent