The Ottawa-based property owner said Tuesday distributable income rose to $3.6 million, or eight cents per unit, from $1.3 million, or four cents per share.
Net operating income was up to $7.7 million from $5.6 million.
Operating revenue grew 28.2 per cent to $12.4 million from $9.7 million.
The average monthly rent for the entire portfolio as of September grew to $880 per unit from $829 in September 2011.
Occupancy also increased to 98.6 per cent in September 2012 from 96.6 per cent in September 2011.
Funds from operations - a key industry metric - grew 150 per cent to $4.1 million compared to $1.6 million in the third quarter of 2011.
"Management believes in trying to optimize the balance of supply and demand by pushing rents and monitoring vacancy within acceptable levels in order to strike the right balance and maximize revenue," the company said in a statement.
"The September vacancy rate of 1.4 per cent across the entire portfolio is at the low end of the range that management believes is healthy in order to maximize revenues."
Operating expenses as a percentage of operating revenues fell to 38 per cent in the third quarter compared to 42.8 per cent in the same quarter of 2011.
"Our team has worked tremendously hard and continues to focus on finding savings and eliminating inefficiencies anywhere we can. We believe that our current staffing levels are adequate to address not only the current requirements but also position us well for the integration of planned strategic acquisitions," said Mike McGahan, CEO.
InterRent is a real estate trust focused on residential properties. Its Ottawa portfolio includes 14 buildings on King Edward Avenue, Metcalfe Street and MacLaren Street, among others.