FOREWORD
provincial edition
Welcome to the 2024 Provincial editions of the ANNUAL . Not unlike our National edition, the ANNUAL , is a special industry specific periodical, delivering relevant, timely information and data with a single-minded approach; “What does the Apartment industry need to know!” With that as our goal, our research team reviewed extensive data from numerous sources to bring you the regional editions of the ANNUAL . From CMHC, Stats Canada, association executives, Government sources and apartment owners, managers & REITs, we bring you the most complete and thorough industry guide that delivers region specific information and data.
Produced by RHB Inc., creators of RHB Magazine, RHBTV, RHB Newsreel, Perpetual Media Group (PMG) and BoldTV, the ANNUAL delivers a complete market perspective for the rental housing industries of Nova Scotia and Saskatchewan.
Developing a standalone resource guide with vital and practical information is never an easy undertaking. There are reasons why in-depth, analysis and forecasting aren’t done in this form and on this scale for our industry! Time, resources and industry knowledge are required to deliver a comprehensive report respecting individual regional apartment owners and managers while allowing them to respond to market needs, size and competition. What you’ll find in this Provincial Edition of the ANNUAL:
• The State of the Industry Report, an in-depth look at the individual provinces’ market conditions, based on CMHC and Stats Canada data.
• Association Report, from our partners at IPOANS and SKLA, an overview of what we need to know about each province and association.
• Neighbourhood Trends, data provided by Rentals.ca on tenant searches and trends.
• Five Things You Should Know, some interesting tips and tools for managing key aspects of your buildings provided by Yardi Canada, EXP Services, Metro Compactor, Dufferin Iron & Railings, and CTI Services.
• The industry’s first vetted report of the Top Ten, Owners, Managers and REITs for each province.
This has been a labour of love. As Canada’s national voice for the apartment industry, RHB Inc. prides itself on always delivering the latest news and information that help our industry maintain a competitive advantage. Therefore, we’d like to acknowledge the following people and companies for their help gathering the information and data which enabled us to deliver this comprehensive guide:
Kevin Russell, Executive Director, Investment Property Owners Association of Nova Scotia (IPOANS); Cameron Choquette, CEO, Saskatchewan Landlord Association (SKLA); Rentals.ca; Enbridge; Yardi Canada, EXP Services, Metro Compactor, Dufferin Iron & Railings, and CTI Services.
RHB Inc accepts responsibility for accurately delivering relevant news to the rental housing industry. As well, we always want to hear from you, the people who make up the rental housing industry. Let us know your thoughts on what you’ve read and what you’d want to see next year in the ANNUAL, both at the National and Provincial levels.
All the best, Nishant Rai
Publisher
Publisher
Nishant Rai
Associate
Publisher
Debbie Dollar-Seldon
Art Director
Scott Clark
Office Manager
Geeta Lokhram
Owner
Marc Côté
Subscriptions
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Opinions expressed in articles are those of the authors and do not necessarily reflect the views and opinions of the CFAA Board or management. CFAA and RHB Inc. accept no liability for information contained herein. All rights reserved. Contents may not be reproduced without the written permission from the publisher. P.O. Box 696, Maple, ON L6A 1S7 416-236-7473 Produced in Canada
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21 – NEIGHBOURHOOD TRENDS
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North Battlleford
AVR: 3.6%
2BR: $950
Lloydminister
AVR: 3.6%
2BR: $1,083
Moose Jaw AVR: 2.8% 2BR: $1,148
Saskatchewan Zone Statistics
1. Prince Albert: AVR: 5.1% | 2BR: $1,026
2. Yorkton: AVR: 2.4% | 2BR: $1,060
3. Swift Current: AVR: ** | 2BR: $982
1,225,493 2023 population
Saskatoon AVR: 2.0%
2BR: $1,360
Regina AVR: 1.4% 2BR: $1,301
4. Weyburn: AVR: 6.4% | 2BR: $917
5. Estevan: AVR: 15.2% | 2BR: $1,078
AVR= Average Vacancy Rate in October 2023
2BR= Average Rent of 2 Bedroom Suite in October 2023 ** Data suppressed
Saskatchewan’s
Number of Primary Apartment Units
Bachelor 1,637
1 Bedroom 13,811
2 Bedroom 21,155
3 Bedroom + 1,816
Total 38,419
Primary Apartment Vacancy Rates
Bachelor 4.0%
1 Bedroom 3.0%
2 Bedroom 1.8%
3 Bedroom + 2.1%
Total 2.4%
Primary Apartment Average Rents
Bachelor $791
1 Bedroom $1,048
2 Bedroom $1,276
3 Bedroom + $1,396
Total $1,182
State of the Industry
Saskatchewan
Saskatchewan’s primary and secondary rental market universe totals
38,419 85,513*
Total: 123,932
Regina
Prince Albert
Lloydminister
Moose Jaw
Weyburn
Yorkton
Association Report
Association Report
About Us
As the voice of landlords in Saskatchewan, the Saskatchewan Landlord Association represents our province’s rental housing industry. Led by a volunteer Board of industry professionals and driven forward by a skilled staff team, we work to ensure Saskatchewan’s rental housing industry meets the needs of renters, owners, and managers.
Our Team
In recent years, we’ve transformed the Association into a small and mighty team dedicated full-time to the success of our industry.
Cam has been with the Association since September 2019 and under his leadership, the Association won the CFAA’s 2022 Association Achievement of the Year Award for Cam’s advocacy on amending income assistance legislation and we were named a finalist in 2023. Cam leads the Association’s operations throughout the province and works with the Board of Directors to move the Association forward.
Landlord Association after being frustrated by only being able to charge $125 for a damage deposit. In 2024 we’re celebrating our 30th Anniversary and all the work that we’ve done over the past three decades to serve Saskatchewan’s rental housing industry.
Government & Industry Relations
Municipal Bylaws and Programs
Together with our industry partners, we’re regularly appearing before City Councils across Saskatchewan. In the past year we’ve advocated for open option parking in Saskatoon and Regina, prioritizing purpose-built rentals through the Housing Accelerator Fund, and fought for clarity in a protective services bylaw in North Battleford.
Cameron is pictured below speaking to North Battleford City Council on November 27, 2023.
Landon initially joined the Association in 2022 during a work term through the Edward’s School of Business Co-op program. Following the successful completion of his Bachelor’s Degree in Commerce with a major in marketing and a Global Studies Certificate, he returned in 2024 as our new Program & Operations Coordinator.
30th Anniversary
On May 5, 1994 a group of concerned rental housing providers formed the Saskatchewan
Office of Residential Tenancies & Ministry of Justice
We meet with the ORT on a quarterly basis to provide feedback and constructive criticism on policy, process, and legal matters. This is done with a view to improve access to justice, increase consistency in decisions, and increase fairness during hearings.
A number of issues were of concern at the ORT and Ministry of Justice this past year – most notably a lack of hearing officers, delays on decisions being issued, and insufficient resources for the ORT to schedule hearings efficiently so that our members aren’t losing so much rent for non-payers.
Participation in Federal Government Relations
Under the leadership of the Canadian Federation of Apartment Associations, we participated in Hill Days on Parliament Hill from April 30 – May 1, 2024.
Cameron Choquette, CEO
Landon Field, Program & Operations Coordinator
This was a great opportunity to demonstrate to MPs, Ministers, and Senators on the tremendous importance of rental housing and to provide feedback and insight on how we can get more units built during this housing crisis.
Cameron is pictured below with CFAA President Tony Irwin and the Conservative Party of Canada’s Saskatchewan Caucus. Over three days, CFAA engaged with over forty MPs and Housing Minister Sean Fraser to discuss the future of rental housing across Canada.
Member Services
In January 2024 we launched our very own limited legal services after our CEO was approved by the Law Society of Saskatchewan to deliver legal services related to residential tenancy matters. We can now help rental housing providers file online claims and attend hearings on their behalf. ORT matters such as evictions for rent arrears, security deposit claims, monetary claim, eviction for cause, or other legal form preparation are all services provided.
New Online Shop
Our SKLA team is happy to announce a new resource for members! �� Introducing the new SKLA Online Shop! As a valued member of the Association, you now have exclusive access to a growing collection of educational resources, Limited Legal Services, notices, reminders, and customizable forms - all conveniently located in one place. Empower yourself as a rental housing provider to learn, issue notices, and seek legal assistance effortlessly.
Lunch N’ Learns
To ensure our members are receiving top-notch education and information throughout the year,
we’ve instituted a regular schedule of events from September to June of each year that alternates between Saskatoon and Regina. Topics presented in the past year include ORT applications, CMHC rental market, death, drugs, and drama, and numerous sessions at our annual conference presented by Home Depot. Our regular events reached close to 500 participants in the past year.
Member Support & Resources
Each and every day our team answers phone calls and emails from members throughout Saskatchewan. Although these conversations are all confidential, we anonymize the information collected and publish regular resources that help our members with common issues by sharing best practices between members. Member support is a free service provided to all members.
Customized Training & Speaking
Our team has begun offering customized training for rental housing providers and real estate brokerages who want to learn more about residential tenancy law, best practices in rental housing, and much more. These affordable sessions give our members an opportunity to educate their staff in a customized format that meets their needs.
2023 Association at a Glance
Our team is focused on delivering industry-leading programs and services for members. In 2023 we expanded our reach as follows:
• 31% increase in digital presence
• 44,219 social media impressions
• 1,905 social media follows
• 81% member retention rate
• 322 new members
Join Us
It’s an exciting time to be a rental housing provider and an even better time to join your Association. If you’re interested in joining an Association dedicated to your success, you can read more about us on our website, www.saskatchewanlandlordassociation.ca
Our members are small, medium, and large. Whether you have a basement suite or 1000 units, you’re welcome at our table and will benefit from our education, support, and advocacy.
Neighbourhood Trends
Latest information on some of Saskatchewan’s many neighbourhoods
Saskatoon
Regina Moose jaw
Neighbourhood Trends
Average Rent / Sqft
Neighbourhood Trends
Saskatchewan’s top ten private landlords by size
SASKATCHEWAN’S TOP 10
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5 things you should know
Industry insights from the 2024 Canadian Multi-Residential Marketing & Leasing study – Page 36 – By Yardi Canada
5 ‘R’s of maintaining value and obtaining best returns for your property – Page 37
5 factors property managers should consider prior to purchasing wrought iron products – Page 38 – By Dufferin Iron & Railings
5 steps to ensure minimization and management of waste in your high-rise building – Page 39 – By Metro Compactor Service
5 reasons to conduct inspections – Page 40 – By CTI Services
5 things you should know
Industry insights from the 2024
Canadian Multi-Residential Marketing
& Leasing study
– By Yardi Canada
A collaborative research project by simplydbs and Yardi Canada Ltd., looking at marketing and leasing strategies within the professional housing provider community, surveyed nearly 400,000 units across Canada. The findings revealed a gap between industry perception and resident preferences.
Here are the top five key website considerations:
Resident preferences when searching for their next unit:
1 Over 90% prefer property specific websites as the main online touchpoint, with more than half finding them essential.
2 Even internet listing services (ILS) sites still hold value for renters (76% demand), although only one third consider them essential.
Website update challenges:
3 87% desired 24-hour response time for both initial inquiries and service requests.
4 A sizable portion (45%) of housing providers is not updating their websites frequently enough.
5 The top reasons for infrequent updates include internal resource constraints and lack of content (57%).
What does this suggest?
The data highlights a critical need for Canadian housing providers to align their current online presence with current resident expectations. While ILS still plays a role, prospective renters prefer a robust and informative property website as their central hub. Investing in resources to regularly update websites with fresh content is essential to attract, convert and retain residents. Incorporating features they value, like a 24/7 omni-channel chatbot, online screening and leasing and tenant portals for payments and maintenance requests, can further enhance the digital experience and streamline the leasing process. By prioritizing a resident-centric online strategy, housing providers can gain a competitive edge in the Canadian multi-residential market. To learn more about your marketing and leasing technology options, visit reachbyrentcafe.com
5 ‘R’s of maintaining value and obtaining best returns for your property
– By EXP Services Inc.
Given the extreme climatic conditions experienced, particularly taking into consideration the changing climate and its severities, buildings in Canada consistently experience aging and there is a need for ongoing maintenance, mid-life service repairs and renewals, and endof-life replacements. Inadequate maintenance and failure to repair, renew and replace aged building components contribute to depreciating property values and increased operating costs. Understanding the merits of the below 5 ‘R’s and performing them when and where they are applicable as it relates to building envelope can provide the best returns.
1 Reviews: Periodic reviews of a property, conducted at a minimum annual basis, is a basic necessity to monitor performance and proactively address issues or potential issues regardless of whether the building is new or aging. For instance, locating a failed sealant joint while conducting a periodic review on the exterior cladding, can reduce the impact of climate elements on underlying components and prevent premature failure of an assembly. Additionally, reviews for financial planning, such as capital replacement fund studies, are a requirement to assess the remaining service life of building assemblies and components and ensuring adequate funding for future capital projects. Assessments on the other hand are targeted reviews to evaluate the as-built and performance conditions of an assembly to mitigate a reported issue, e.g. water leak investigations.
2 Repair and maintenance: Repairs typically relate to localized failure of assemblies and components, that are either premature due to inadequate construction, extreme weather conditions or general aging. They are often reactive and sometimes planned to extend service life of assemblies and components. Regular periodic reviews as noted above will help ensure that repairs are planned rather than reactive. Planned repairs are more cost effective than reactive emergency repairs.
3 Renewal or replacement: Renewal or replacement are planned capital actions on assemblies that require a mid-service life renewal or replacement in addition to the periodic repairs and maintenance activities for continued performance. Some of the common renewal or replacement projects include replacement of joint sealants, doors and windows, roof assembly, waterproofing membrane, traffic coating and certain cladding assemblies. Such renewal or replacement projects may sometimes provide an opportunity to improve the original design intent.
4
Restoration or rehabilitation: Restoration or rehabilitation projects are capital projects, similar to renewal and/or replacement projects, conducted to restore the integrity of the assemblies. For instance, structural rehabilitation of balcony decks or parking garages. They often involve a comprehensive assessment of the existing condition to determine the extent and type of restoration needed.
5 Revitalization: Revitalization is a holistic approach in conducting major capital projects that takes a step back to evaluate and strategize options that includes combining, sequencing, and phasing various independent capital projects for optimal overall solutions. For instance, instead of dealing with cladding, windows, doors and joint sealants independently in a building elevation, they can be combined, and if required, phased through multiple years to complete a full recladding project. Revitalization can add significant value in terms of long-term durability, improved aesthetics, energy conservation, user experience, occupant comfort, cost savings and possibly climate resilience. Revitalization projects may immediately increase the property’s value.
While some of the above ‘R’s are the basic needs, some are alternative approaches, and thus a clear understanding of the above can help make an informed decision.
5 things you should know
5 factors property managers should consider prior to purchasing wrought iron products
By Dufferin Iron & Railings
1 Safety standards and building codes:
It’s essential to understand and comply with Ontario Building Code (O.B.C.) and safety regulations regarding railing height, spacing, and other requirements. Ensuring compliance helps protect residents and reduces liability for property managers.
2 Maintenance requirements:
Interior wrought iron products typically require little to no maintenance. However, exterior wrought iron products are subjected to environmental elements. We recommend using hot-dipped galvanized iron before painting instead of opting for powder coating for better protection and easier long-term maintenance.
3 Aesthetic appeal:
The design of the railings should complement the architectural style of the property and appeal to potential tenants. Consider a variety of styles of pickets, finishes and think about how the railings can enhance the interior or curb appeal and overall property value.
4 Installation process:
Proper installation is crucial for safety and functionality. Consider the complexity of the design and any structural modifications that may be needed for proper support, we strongly suggest that all iron products should be installed with well experienced and trained professionals.
5 Garbage enclosures:
We strongly suggest that property managers should request stamped engineered drawings from their fabricators to ensure the safety of the structure for residents.
5 steps to ensure minimization and management of waste in your high-rise building
By Metro Compactor Service
In today’s fast-paced waste and recycling landscape, reducing waste and optimizing equipment performance is crucial. Across Canada, many landfills are nearing capacity, prompting municipalities to introduce stricter waste management regulations. Tight budgets for both new and existing properties demand smarter, cost-effective solutions to stay compliant without compromising efficiency.
1 Identifying your region’s waste management guidelines
Staying compliant with local waste management regulations is essential for any building or development. Most municipalities publish updated waste guidelines, outlining specific requirements for proper waste disposal and recycling. Developers, builders, and key personnel should be well-versed in these guidelines to ensure their projects align with local bylaws. Being proactive helps avoid penalties while contributing to community sustainability.
2 Understanding the waste streams and equipment mandates in your region
Each municipality may have different waste and recycling streams, along with requirements for sorting waste. Some regions may mandate separating recycling into categories like organics, plastics, and paper, while others might have general requirements. Additionally, municipalities often legislate the type and size of waste containers, whether bins, totes, or other receptacles. In some cases, they may supply the bins for specific streams.
3 Ensuring your building has the right equipment
Having the right waste management equipment is crucial for maximizing efficiency and minimizing contamination. Key pieces like sorters and compactors can significantly streamline your waste management process. Consider conducting an internal audit to assess your current equipment and practices.
• Are you properly separating waste streams to minimize contamination?
• Are you making full use of the tools available to your building?
4
Scaling your equipment for maximum efficiency
Is your waste management system appropriately scaled for your building’s size? This includes assessing the number of waste chutes, bins, and scheduled pickups. If your building generates more waste than your current setup can handle, it may be time to re-evaluate. A properly scaled system can save operational costs and reduce wear on equipment.
5 Are residents properly using the system
Even the most advanced waste management system can fall short if residents do not use it correctly. On-site staff should regularly train residents on proper waste sorting and disposal. Clear signage and instructional materials can reinforce proper usage. It’s also essential to maintain equipment through a Preventative Maintenance Plan. Regular servicing helps avoid breakdowns and extends the lifespan of your equipment. A well-maintained system, paired with educated users, will help keep your waste management practices compliant and costeffective.
Effective waste management goes beyond following regulations—it’s about optimizing systems for efficiency, sustainability, and cost savings. By ensuring compliance with local guidelines, investing in the right equipment, scaling systems appropriately, and educating residents, you can create a streamlined process that benefits both your building and the community. At Metro Compactor Service, we’re here to help you achieve these goals with innovative solutions that meet today’s waste challenges.
5 things you should know
5 reasons to conduct inspections
– By CTI Services
1 Validate landlord’s insurance
Conducting regular inspections helps ensure that properties are maintained according to the standards required by insurance policies. Insurance companies often require proof that the property is being well cared for, and periodic inspections can serve as this proof. This validation can prevent the risk of voided policies or denied claims in the event of damage or liability incidents. Proper documentation from inspections gives landlords peace of mind that they are in compliance with insurance requirements, which is critical for protecting their assets.
2 Identify health and safety risks
Routine inspections help identify potential hazards. Early detection allows for timely intervention, ensuring that both the property and its occupants remain safe. Regularly addressing these risks also helps landlords comply with local safety regulations and avoid legal liabilities that could arise from tenant injury or unsafe living conditions. Proactively maintaining the property keeps tenants safe and reduces the risk of costly legal actions.
3 Save thousands of dollars in remediation by identifying issues in the early stages
Early detection of maintenance issues, such as water leaks, HVAC malfunctions, or pest infestations, can prevent them from escalating into costly repairs or replacements. Addressing these problems early on not only reduces remediation costs but also prolongs the lifespan of the property’s infrastructure and major systems. Inspections offer a way to monitor the property’s condition, allowing landlords to budget for repairs over time instead of facing unexpected, large-scale expenses.
4 Identify breaches / promote compliance
Inspections help identify tenant breaches such as unauthorized pets, subletting, or damage beyond normal wear and tear. By catching these issues early, landlords can take corrective actions before they become larger legal or financial problems. Additionally, regular inspections promote compliance with lease terms, fostering better communication between the landlord and tenant. When tenants are aware of regular inspections, they are more likely to follow the rules, protecting the property and reducing the need for conflict resolution.
5 Bridge landlord / tenant relationships
Regular inspections provide an opportunity for landlords and tenants to engage in positive, constructive dialogue. This open communication fosters a sense of trust and transparency, ensuring that tenants feel cared for and landlords stay informed about the condition of their property. By being proactive and addressing tenant concerns during inspections, landlords can strengthen their relationships with tenants, leading to improved tenant satisfaction, longer tenancies, and fewer disputes. It shows that the landlord is invested in providing a wellmaintained living environment, which can improve tenant retention rates.
These elaborations highlight how inspections are not just about property management but also about protecting investments, ensuring compliance, and maintaining strong tenant relationships.
I N C.
Canada’s One-Stop Source for the Rental Housing Industry