Toronto's largest rental developer says tenants can now earn Aeroplan points by paying rent

Fitzrovia, the largest purpose-built developer in Canada, has partnered with a Toronto-based fintech company Chexy, allowing residents who are Aeroplan members and pay rent using Chexy’s platform to collect points every time they pay rent. Residents can sign up to become an Aeroplan member when signing a lease.

Adrian Rocca, CEO and founder of Fitzrovia, said in a hypercompetitive rental market, this Aeroplan offering “moves us beyond rent reductions.” 

“We’re taking the process of paying rent and turning it into something aspirational. You pay rent for a year and get a free trip to Europe.” 

Liza Akhvledziani Carew, cofounder and CEO of Chexy, added that it’s turning one of the “largest and most painful expenses” into one that can provide better opportunities for tenants. 

And residents can choose different options that best suit their needs, opting into paying with debit or credit card, she said. 

Residents who sign new leases at select buildings can pay their rent with no transaction fee for pre-authorized debit payments. All Fitzrovia residents may use their credit card to pay rent, where they’ll receive a three-month credit card fee exemption. The credit card fee after the three-month period is 1.75 per cent per transaction.

Residents earn up to two Aeroplan points per $1 of monthly rent paid. 

If a tenant moves they will be able to retain the Aeroplan points they’ve collected through the Fitzrovia and Chexy partnership.

To stay competitive, landlords need to offer different perks to get the attention of prospective tenants, which is what Fitzrovia is doing, said Tony Irwin, president and CEO of the Federation of Rental-housing Providers of Ontario.

“Fitzrovia’s incentive is new to me, it’s not one I’m familiar with. Typically we see one or two months of free rent,” said Irwin. 

However, what the city ultimately needs are more affordable units, he said. 

In the third quarter of 2025, the vacancy rate for purpose-built rental projects (that are rent controlled) completed since 2000 in the Greater Toronto and Hamilton Area was 3.5 per cent, rising from 2.8 per cent a year ago and nearly doubling from two years ago, according to a report from real estate research firm Urbanation. 

Rents for units that were available to lease within purpose-built rental projects completed since 2000 averaged $4.05 per square foot in the third quarter, declining 2.6 per cent annually. However, when factoring in incentives, which include free rent periods, average rents fell 6 per cent over the past year, the report said. 

Around 63 per cent of buildings offered incentives during the third quarter, including a 33 per cent share offering two months or more of free rent — up from an 11 per cent share a year ago, the report said. 

Ultimately, Toronto needs more affordable rental units, which comes from building more rental units to give residents greater options, Irwin said, ensuring developers build a portion of their units as affordable, and getting government involved in providing more affordable living situations.

Because purpose-built rental developers need to put in more money up front to fund the project, oftentimes not making a profit for at least the first 10 years, the long-term commitment results in needing a certain amount of return for their investors. That means purpose-built developers often aren’t able to bring their rents down below market rent.

For condo developers, they pre-sell the majority of their units earning profit immediately, but purpose-built developers have to ensure steady growth and income for their investors for decades, Irwin said. 

Ultimately, this latest Aeroplan perk is a positive for renters, he said.

“Many renters pay by direct debit or electronic means,” he said. “So I see it as a great scenario for getting a reward just for paying your rent as you’ve always been doing, now you just get Aeroplan points with it.”