Since MetCap Living established itself as a leader in property management, we have routinely been asked one, simple question; “Can you help us run our property more effectively?” And, for well over thirty years, the answer has remained — Yes, we can! Our managers are seasoned professionals, experienced in every detail of the day to day operations and maintenance of multi-unit rental properties. From marketing, leasing, finance and accounting, to actual physical, on-site management, we oversee everything.
Guaranteed vacancy reduction, revenue growth and net profitability — when you’re ready to discuss a better option; we’ll be there. You can count on it.
Kazi Shahnewaz Director, Business
Development
Office: 416.340.1600 x504
C. 647.887.5676
k.m.shahnewaz@metcap.com
www.metcap.com
ABOUT US
Kingsgate Restoration is strongly committed to excellence in client care and satisfaction. With over two decades of experience, we pride ourselves on adhering to the highest standards where best practices are the foundation to our success. With the utmost commitment, we envision, assess, plan, and execute a variety of construction and restoration services.
RESTORATION SERVICES
GARAGE REHABILITATION
BUILDING ENVELOPE REPAIRS
BALCONY REHABILITATION & RAILINGS REPLACEMENT
PARKING STRUCTURE REHABILITATION
HYDRO DEMOLITION
EXTERIOR WALL REPAIRS
ROOF REHABILITATION
MASONRY & STONEWORK REPAIRS
WATERPROOFING & MOISTURE PROTECTION
WINDOW & SEALANT REPAIR & REPLACEMENT
The Future of Package Management!
User Friendly Self Service 24/7 Package Access
Eliminates constant staff disruption for deliveries
Officially approved by Canadian Carriers
Robust Lockers designed and built in USA
6-8 week delivery timeline
PRESIDENT'S MESSAGE
TONY IRWIN President & CEO FRPO
As another summer draws to a close, families across the province are preparing for the back-to-school season, returning from well-deserved vacations, and bracing for the cooler temperatures ahead. With this seasonal shift, our team is also gearing up for a change in pace as we prepare for the return of the legislature. Our mission remains clear: we will continue to advocate for the development of more purpose-built rental housing—urging all orders of government to "just say yes" to more housing.
We see the gradual decline in interest rates being a welcome relief for all Ontarians as we continue to navigate the ongoing affordability crisis. Lower rates could significantly impact housing supply and refurbishment, making it easier to finance new developments and essential upgrades to existing properties. This will be key to ensuring every Ontarian has access to a safe and suitable home that meets their needs.
Our engagement with both the federal and provincial governments remains productive and ongoing. We are dedicated to positioning FRPO, and by extension our members, as the go-to experts in the rental housing sector. We support many of the federal government's measures to bring more affordable units to market, while recognizing the need for the market to remain balanced and healthy for residents and providers alike. Provincially, our work with Minister Calandra and his ministry's initiatives to build the housing Ontario desperately needs is progressing well. The productive discussions at the Association of Municipalities of Ontario's annual conference have set a positive tone for the upcoming legislative session.
Looking ahead, FRPO continues to engage with the media to shape the narrative around the rental housing market and position our members as Ontario’s professional rental housing providers. A highlight was a series of interviews with CBC Radio on the state of the market and the pressures Ontarians face with housing availability and affordability. Our message? The need for dramatic increases in the supply of purpose-built rentals.
As we head into fall, our priorities remain sharply focused on advocating for increased rental housing supply across Ontario. Our commitment to working with partners, members, and stakeholders remains strong as we strive to turn policy into tangible results. With the continued support, professionalism, and dedication of our members, our industry will continue to be the strong partner that Ontario needs.
Tony Irwin President and CEO
FRPO
EVENTS
PM EXPO AT THE BUILDINGS SHOW
Date and Time:
December 4, 2024 to December 6, 2024
8:00 am – 4:00 pm
The Buildings Show is the place where Canadian construction comes together, uniting 18,000+ industry professionals for accredited educational content, meaningful networking, product and service discovery, and future insights.
Explore the show across four key segments:
- PM Expo
- World of Concrete
- Construct Canada
- Homebuilder & Renovator Expo.
Note: This is not a FRPO event; all inquiries should be directed to events@informacanada.com
2024 MAC AWARDS
Date and Time:
December 5, 2024 | 5:00 pm – 9:00 pm
The MAC Awards Gala is the premier annual event for our members, drawing in 1,200 attendees who span a wide spectrum from hands-on owners/managers to third-party management companies and REITs. This esteemed gathering allows us to celebrate excellence in the residential rental housing industry and further the high standards championed by the Federation of Rental-housing Providers of Ontario. We invite member organizations of all sizes to participate in the MAC Awards and encourage you to seize this opportunity to showcase your leadership in the rental housing industry. The event is scheduled to take place on Thursday, December 5, alongside The Buildings Show. Stay tuned for more details as the event draws closer.
PM SPRINGFEST
Date and Time:
April 24, 2025 | 9:00 am – 2:30 pm
EXCLUSIVELY FOR PROPERTY MANAGEMENT PROFESSIONALS
Equip yourself with new information and technologies to better position and optimize your buildings, as well as expand your professional network. PM Springfest will be bringing together property management professionals on April 24, 2025 at the Metro Toronto Convention Centre to connect with leading suppliers, explore new innovations, and learn from industry experts about the latest regulatory, health, and life safety changes. Dive into efficient energy management strategies, retrofitting aging buildings, essential capital planning details, and more.
Note: This is not a FRPO event; all inquiries should be directed to events@informacanada.com
2024 FRPO CHARITY GOLF CLASSIC
Date and Time:
July 21, 2025 | 7:30 am – 6:30 pm
The 2025 FRPO Charity Classic will return to Lionhead Golf Club on July 21 in support of Interval House. This popular event is your chance to network with other FRPO members while making a meaningful difference in our community.
National Apartment Group - Ontario
Ontario’s multi-residential sector remains one of the most resilient segments of commercial real estate capital markets. Notwithstanding market volatility over the last 24 months, investor sentiment for multifamily assets remains positive. As of Q3 2024, values have weathered the impact of higher borrowing costs and are well-positioned to improve due to stable and recurring income growth. Please see below for a summary of recent deals and active listings as of Q3 2024.
For additional info on cap rates, valuations, and market trends in the current investment landscape, please reach out to a member of the CBRE National Apartment Group.
2 & 4 Silver Maple Court
2 Buildings | 416 Suites
For more information, please contact: David Montressor * Vice Chairman (416) 815-2332 david.montressor@cbre.com Tom Schuster * Director (416) 847-3257
tom.schuster@cbre.com * Sales Representative
September 2024
Let’s Build Ontario (LBO) continues to advocate for addressing the urgent need of more supply of purpose-built rental housing. As we move into fall, you can expect to see LBO take on a redefined strategic approach to how we frame the housing and affordability crisis that continues to affect all Ontarians. It’s time for NIMBYs to move out of the way and make room for the YIMBYs!
LBO’s advocacy will be anchored in:
Reframing what delays at the Landlord and Tenant Board (LTB) mean. Delays at the LTB have a real-life impact on residents and can create tense environments, reduce service quality, and increase stress for both residents and rental housing providers. There is a light at the end of the tunnel as some improvements have started. But improving the system at the LTB should be a priority alongside more supply for a balanced, healthy purpose-built rental market that serves everyone.
Building awareness around the need to fix delays with real stories. By showcasing the stories of those affected by long delays, including both residents and providers— that have the potential to affect over 1.7 million Ontarians—LBO aims to bring relatable and honest stories to the forefront of the conversation.
Showcasing the success stories. Through the promotion of member-driven good news stories, LBO aims to bring balance to the ongoing discussion around renting and showcase rental housing providers as community pillars.
Building a stronger public profile. Alongside the Federation of Rental-housing Providers of Ontario, LBO will support in expanding the reach of efforts that build on thought leadership efforts like op-eds, seminars, and video interviews, and will serve as a platform to foster relationships with the media.
For more information on Let’s Build Ontario, or to get involved, visit the campaign website https:// letsbuildontario.ca/. Together, we can be YIMBYs.
NIMBY - Not in my backyard
YIMBY - Yes, in my backyard
women IN RENTAL HOUSING LUNCHEON
The 2024 Women in Rental Housing Luncheon began with an impactful presentation from Victim Services Toronto, which provides traumainformed support and advocacy for individuals in Toronto who have experienced crime or sudden tragedy, and works to prevent violence through community engagement. The event also featured a powerful testimonial from a human trafficking survivor.
Following lunch, a panel discussion led by Brandi Clarke, including Sam Amin, Ossana Ber, and Anannya Biswas, candidly addressed the various challenges women face both in and out of the office The panel explored how to support one another through these challenges, discussed our survey results, and emphasized the importance of fostering a supportive environment.
Attendees engaged in meaningful conversations, networked with peers, and explored strategies to advance women’s roles and support each other in the rental housing sector.
W O M E N I N R E N T A L H O U S I N G L U N C H E O N
survey says...
The recent survey offered some fascinating insights into what fuels joy and what drains energy in the workplace. A standout 52% of respondents pointed to a positive team culture as their source of happiness on the job. But on the flip side, managing stress and burnout is a real struggle for 47% of participants, with another 40% wishing their companies did more to help in this area The culprits behind the stress? Lack of resources, heavy workloads, long hours, and the never-ending high-pressure demands
When it comes to creating healthier, happier workplaces, 53% of people say flexible working arrangements are the way to go. And when we asked about networking, 67% of respondents are all about participating in industry events and conferences so let’s make sure they get those chances! Interestingly, 50% of respondents also believe that men should attend women’s leadership events to form allyships, make connections, and gain a better understanding of different perspectives. These insights highlight the need to shake things up and make the workplace a better, more inclusive space for everyone.
This survey will be incorporated into future luncheons so that we can continue to see what’s working and wh at we can improve on. Thank you to all the women who participated in this year’s survey
• Fire Alarm Systems
• Sprinkler Systems
• Smoke Control Systems
• Fire Safety Plans
• Fire Warden Training/Drills
• Consulting
• Engineering
• Project Management
• Integrated Systems Testing (CAN/ULC-S1001)
• And more
What brings you the most joy at work?
52% of respondents identified a positive team culture as their primary source of satisfaction, followed by 31% who valued achieving goals and milestones. Personal growth opportunities and collaborative projects were also noted as contributing factors, though to a lesser extent.
Where are you struggling in the workplace?
47% Managing stress and burnout
32% Balancing work and personal goals
13% Lack of recognition or appreciation
8% Feeling disconnected from the team
BY THE NUMBERS
How do you prefer to network?
67% Attending events & conferences
17% Mentorship programs
10% Networking groups
5% Online communities or forums
How can we engage men in supporting women and fostering networking?
What does your company do well?
Both providing work-life balance and providing professional development were tied at 31%, followed by creating a positive work environment with 22% and lastly fostering innovation at 16%.
To support women in the workplace, almost 50% of respondents suggest encouraging male allies to participate in women's networking events. Additionally, 28% advocate for training on gender equity and inclusion, while 23% emphasize the importance of male mentorship and sponsorship.
What could your company do better?
40% of respondents said their company could better address workplace stress and burnout. Enhancing communication was also highlighted by 31%, followed by offering more growth opportunities at 18%. Additionally, 11% of respondents emphasized the need for improving team collaboration.
What are the main factors contributing to burnout for you?
The survey shows that 38% of respondents struggle with a lack of support or resources, followed by 27% citing heavy workloads and long hours. High pressure and unrealistic expectations affect 22%, while 13% report poor work-life balance as a challenge.
How can leaders create healthier workplaces for women?
To create healthier workplaces for women, 53% of respondents advocate for flexible work arrangements, while 30% emphasize the need for more women in leadership roles. Genuine commitment to diversity and inclusion and stronger anti-harassment policies are also noted, with 13% and 4% support, respectively.
How can women better support each other in the workplace?
33% said women can better support each other in the workplace by providing mentorship and guidance, while 32% cited celebrating achievements, 23% said offering constructive feedback and support, and building inclusive networks at 12%.
What things do leaders often discuss but struggle to implement effectively?
The survey suggests that both work-life balance policies and transparent communication could use improvement, each cited by 36% of respondents. Employee recognition programs follow at 23%, while 5% highlighted diversity and inclusion initiatives.
How well does your organization support your personal development goals?
44%: Some resources are available, but I must seek them out and advocate for my growth.
26%: My development goals are fully supported with training, mentorship, and opportunities.
17%: Opportunities are limited and don’t always align with my personal goals.
14%: Personal development is not prioritized in my current role or organization.
Trusted Advisors
Providing Expertise in Building Science and Structural Restoration
Garage & Balcony Assessment & Restoration
Building Cladding Design, Assessment & Remediation
Roofing System Design, Assessment & Remediation
Building Condition Assessments
Capital Planning
Building Renewal
Energy Audits and Modelling
Philip Sarvinis | Bill Gladu | Jeremy Horst | Michael Pond Duncan Rowe | Jack Albert
Beau Gaudreau | James Cooper | Nigel Parker | Paul Fritze | Sohrab Karkhel
NEW CMHC
RESEARCH SHOWS THE FILTERING PROCESS WORKS IN CANADA
Housing affordability is a challenge for many Canadians. Canada’s housing system faces a severe lack of housing that’s affordable. The long-term approach for addressing the lack of affordability is to build more housing, which improves affordability over time. This works through a process known as “filtering”. Filtering is the gradual transition of housing units from higher-income households to lower-income households as newer units are built (see Figure 1). This makes housing more affordable across the housing spectrum over the long term. This approach addresses the supply gap and can positively impact affordability for many Canadians, not just those moving into new units.
Figure 1: New Housing Spurs Vacancy Chains
New CMHC research and international studies support filtering as a mechanism to provide more affordable housing in Canada. CMHC research finds that building mid-cost or a balanced mix of new housing cost types are the most effective for improving affordability and welfare. A balanced mix of new housing also reduces negative trade-offs (such as the out-migration of low-income families).
Newer rental housing of today will become tomorrow’s more affordable options
CMHC research also finds that, relative to a new building, rents tend to fall 5% in the first four years following construction, after adjusting for inflation (see Figure 2). This declines to just short of 20% near the 20-year mark. As buildings mature, they tend to become more affordable for lower-income families.
Figure 2: National Estimates Show Strong Declining Rents Relative to a Building’s Age
Figure 2: National Estimates Show Strong Declining Rents Relative to a Building’s Age
On July 23, the lush greens of Lionhead Golf Club set the stage for a day of fun, friendly competition, and fantastic fundraising at the 2024 FRPO Charity Golf Classic. This year’s event teed off with a purpose, as we came together to support Interval House, an organization dedicated to helping women and children escape intimate partner violence.
The sun was shining, the mood was high, and the golf carts were revved up for a day that was all about swinging big and making a difference. Teams of industry pros, FRPO members, and avid golfers hit the course with their game faces on—but let’s be real, there were plenty of laughs and high-fives along the way. From tricky sand traps to picture-perfect putts, the course had something for everyone, and the competition was fierce, but always in good fun.
But the real heart of the day came during the post-tournament dinner, where the golf clubs were set aside, and the impact of the day was truly felt. Representatives from Interval House shared inspiring stories that reminded us all why we were there. The funds raised are set to make a huge difference, helping to support the incredible work Interval House does for women and children in need.
A Day of Golfing & Giving
Tony Irwin, President and CEO, presented a cheque for $70,000 on behalf of the FRPO membership. In addition, another $21,000 was raised through our raffle and silent auction. Thanks to the generosity of our sponsors, donors, and everyone who joined us on the greens, this year’s FRPO Charity Golf Classic was a hole-in-one for a great cause. The energy, the smiles, and the community spirit made it a day to remember—and the fact that we helped raise significant funds for Interval House made it even sweeter.
As the sun set on Lionhead, there was a sense of joy and accomplishment in the air. We can’t wait to do it all again next year, swinging for a cause and having a blast along the way!
Interval House is Canada’s first centre for women survivors of intimate partner violence and their children. Founded in 1973 by a feminist collective, they have always had a pioneering spirit, taking a holistic approach to helping women and children leave abuse behind and start new lives, free of violence.
Interval House Team
Hon. Vijay Thanigasalam
Hon. Paul Calandra
Tony Irwin
Katie Mosher
Faliza Mohammed
Irwin, FRPO President & CEO
Paul Calandra Minister of Municipal Affairs and Housing
Fazia Mohammed Senior Manager Interval House
$1000 Hole Sponsors
Driving Range
Chocolate Sponsor
Ice Cream Sponsor
Beverage Cart Sponsor
Wine Sponsor
Hole Sponsor
Tony
Hon
ONE SUPPLIER FOR ALL YOUR PROPERTY NEEDS
Money-saving contract pricing. Time-saving business tools. Only HD Supply delivers the products, services, and support you need to operate efficiently, control costs, and keep your staff and those they serve safe.
ACCESS TO 14,000+ PRODUCTS
Plus a dedicated Special Orders Department for hard-to-find products
RELIABLE COAST TO COAST DELIVERY
Direct ship and job site delivery options available. Enjoy free next-day delivery on stocked products to most locations
HD SUPPLY INSTALLATION SERVICES
Whether it’s window coverings, flooring, PTAC units, or appliances, our team of installation professionals have got you covered from start to finish
Contact your Account Manager or call 1.800.782.0775 to get started
E-PROCUREMENT SOLUTIONS
Keep your property compliant with our procurement tools including: Yardi integrations, Customer Procurement Analysis and Order Approval Workflow
PROGRAMS TAILORED TO THE NEEDS OF YOUR PROPERTY
We will build a custom catalogue for an easy way to help limit your spend to pre-selected products for consistency and maximum savings
PROJECT AND RENOVATION SPECIALISTS
Dedicated team providing you with support for projects requiring coordination and management for renovations and/or new builds
INTERVAL HOUSE AND FRPO
CELEBRATE
$1 MILLION MILESTONE IN SUPPORT OF WOMEN SURVIVORS OF INTIMATE PARTNER VIOLENCE
DRIVING FOR SHOW WHILE PUTTING FOR DOUGH, SUPPORT FOR WOMEN SURVIVORS OF INTIMATE PARTNER VIOLENCE CONTINUES TO GROW.
We are thrilled to announce a landmark achievement in the partnership between FRPO and Interval House: raising $1 million after this year’s FRPO Charity Golf Classic! This funding supports Interval House’s crucial work in helping women and children escape intimate partner violence.
Since 2006, FRPO has proudly supported Interval House, leveraging our annual Charity Golf Classic to aid this vital cause. Our collective efforts ensure that women fleeing violence receive the support they need to rebuild their lives in safety.
Tony Irwin, President & CEO of FRPO, said, “We are committed to supporting Interval House and their critical services, which provide a new start for women survivors of intimate partner violence.”
In addition to our golf event, FRPO members contribute to Interval House’s housing initiatives, which offer affordable housing options to women and their children after leaving abusive situations.
“Safe and secure housing is essential for the women and children we assist, and FRPO’s support is crucial in meeting this need, especially given today’s challenging housing market,” said Interval House’s Executive Co-Director Lesley Ackrill.
Established in 1973, Interval House was the first shelter of its kind in Canada and continues to lead with innovative programs that empower women to forge new, violence-free futures. FRPO, founded in 1985 and a leading advocate for Ontario’s multi-family housing industry, is proud to collaborate with Interval House in striving for safer communities. Together, we are making a difference and looking forward to continuing our support for safer, supportive communities.
INTERVAL HOUSE AND
AND FRPO CELEBRATE
JOIN US FOR OUR ANNUAL HOUSING SUMMIT ON OCTOBER 9, 2024
The Residential Construction Council of Ontario (RESCON) proudly presents its fourth annual Housing Summit. This year’s virtual conference, “Accelerating Change: Tackling the Housing Crisis”, is set to spark innovative discussions.
Amid Canada’s worst-ever housing affordability and supply crisis, this year’s summit will feature an array of elected officials, senior public service decision-makers, housing sector thought leaders and influencers, public opinion analysts, and others who will discuss challenges, opportunities, and policy changes that are required to get the country’s housing sector back on track. Discussions and presentations will cover topics such as taxes, fees, and levies, public policy initiatives, public opinion surveys, market analysis, and potential solutions being implemented or proposed.
In bringing together a wide range of political leaders, industry observers, and stakeholders, the RESCON Housing Summit 4.0 promises to be engaging, insightful, and informative. FRPO is proud to sponsor this event.
If you have any questions, please contact Resconnotice@rescon.com.
Recognized as a best practice in Living Green Environmental Management Standards Manual.
W H A T W E D O ?
Reducing energy consumption reduces future operating costs. Novitherm TM Heat Reflectors are a simple and effective product which reduces gas consumption and has a direct positive impact improving your tenants' comfort.
Find out how Novitherm TM Heat Reflectors can benefit you with a FREE building assessment
ANSWERS TO YOUR HARD QUESTIONS ON UTILITY METERING SOFTWARE
By Jennifer Brown, Marketing Director, Wyse Meter Solutions
Don’t be fooled by its name. There is nothing ‘soft’ about the issues software can cause for your business. When those issues involve the utility metering solution in your buildings, they can also create confusion in your systems, frustrations on your team, and unnecessary expenses for your budget.
This is even more reason for you not to shy away from the hard truths about software.
Rest assured, space-saving metering technology currently exists to integrate seamlessly into your building systems. The best-in-class examples provide a dedicated communication protocol, including a cellular connection, for all meters deployed. This saves you thousands in staff hours, labour, and conduit costs.
Some tech, for comparison, requires providers to install a computer within your buildings. That bulky tech takes up valuable space and needs constant attention (security, power, tech issues, reboots, etc.).
Leading one of Canada’s largest buyers of metering equipment, I know quality when I see it. Demand your provider to offer Measurement Canada-approved meters that incorporate an open-protocol, non-proprietary solution, which is exactly what you need to stay technologically advanced and budgetarily sound.
How is that, you ask?
Simple. These meters operate on what is referred to as an ‘open protocol’ platform, which is a type of digital software where the copyright holder allows users to use, study, change, and distribute the software to anyone and for any purpose.
Developers—the software kind, in this case—love opensource software as it is created and improved upon in a collaborative public manner. Every user around the world works together to improve the product and those solutions are shared for free with fellow users.
Because of this, open-protocol systems experience rapid innovation when technologies change and find clever solutions when problems arise.
That’s like employing an IT team of thousands at no cost.
As a utility metering solution, open-source software provides quick, universal access without getting locked into proprietary programming or expensive updates. It makes the data transparent and easy to read at no cost to you. This is the kind of flexibility necessary to keep your buildings technologically nimble today and well into the future without costing you a ton of money.
Compare that to some legacy metering technologies, as well as other current technologies in the market. Some of you may be shackled to proprietary meters operating on closed-source software, a type of digital software where, as you might guess from the name, the copyright holder keeps the source code safe and encrypted. No other developers may copy, modify or delete parts of the code without some type of consequence (e.g., voiding the warranty, legal repercussions).
The fallout can be frustrating, as you are locked into a specific closed software, stuck paying for constant software updates and patches, and, if you don’t keep up, you find yourself using constant workarounds. Innovation and fixes are at the whims of the vendor and their development team.
Instead of focusing on running your buildings, you are forced into finding solutions for your meters.
Don’t you think metering software should be the least of your problems?
Get the hard facts on software and how you should open yourself up to the idea of open-protocol meters.
For more information, reach out to sales@wysemeter.com.
YARDI NAMED TO THE PRESTIGIOUS 2024 FORBES CLOUD 100 LIST
Recognized for the ninth consecutive year among top-tier private companies leading the way in cloud technology
Yardi® has been named to the 2024 Forbes Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. Yardi was a member of the inaugural Cloud 100 in 2016 and was No. 36 this year.
“We’re honored that Yardi continues to rank among the top private cloud companies worldwide,” said Joel Loewen, vice president of cloud services at Yardi. “Since the inaugural list, this inclusion has reflected the continual efforts of our employees to create innovative and impactful solutions for our customers. We take pride in being one of the oldest companies on this prestigious list, as well as one of the few that has no external capital.”
For the ninth straight year, the Cloud 100 reviewed submissions from hundreds of cloud startups and private companies. The Cloud 100 evaluation process involved ranking companies across several factors, including market leadership, operating metrics, and people and culture.
“For nine years, the Forbes Cloud 100 list has recognized the leading private cloud companies in the world, from AI to work software, infrastructure to security,” said Alex Konrad, the Forbes editor of the Cloud 100. “This year’s list is the strongest group of standouts yet, with revenue, valuations, and growth that will eventually make for historic IPOs.”
“Across nine years of data, we have yet to see as competitive of a cohort as the 2024 Cloud 100. The list value reached $820 billion this year, the highest list value in Cloud 100 history,” said Mary D’Onofrio, partner at Bessemer Venture Partners.
The Forbes 2024 Cloud 100 is published online at forbes.com/cloud100 and will appear in the August/ September 2024 issue of Forbes magazine.
About Yardi
Celebrating its 40-year anniversary in 2024, Yardi® develops industry-leading software for all types and sizes of real estate companies across the world. With 9,500 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is energized for tomorrow, visit yardi.com.
EXCLUSIVE INSURANCE SOLUTION FOR PURPOSEBUILT RENTALS EXCLUSIVE INSURANCE SOLUTION FOR PURPOSEBUILT RENTALS
By Jason Cedrone and Jennifer Sparfel
Earlier this year, Jones DesLauriers Insurance Management Inc. (JDIMI) became one of FRPO’s newest corporate members. Our motivation in joining FRPO was partially dictated by our desire to play a meaningful part in helping to support the rising challenges of housing affordability and the increased economic strain facing developers to meet the existing housing demand with new inventory.
For many Canadians, home ownership in our current economic climate is becoming more and more out of reach. Renting has increasingly become the default housing option for many Ontarians, and we see this growing demand for purpose-built rentals as a critical component in working toward solving our housing crisis.
Announcing a new to market exclusive insurance solution, Landlord Insurance Facility Tower (LIFT) offers a commonsense underwriting approach to the purposebuilt rental asset class segment. LIFT is our contribution to making rental properties more affordable for owners and developers to build, operate, manage, and maintain, therefore making rental housing more affordable and accessible to Canadian families.
Over the last 25 years, the insurance marketplace has applied substantially different deductible terms and rates to insure purpose-built rental and apartment-style
assets in comparison to the underwriting terms generally offered for traditional condominium assets. Although condominiums and privately-owned rental buildings may be constructed of like materials, built in the same year, containing the same number of units, and located in the same geographic areas, the "risk" between condo vs. private ownership is deemed to be very "different". In our view, apartment buildings and purpose-built rentals have been unfairly considered higher risk by the underwriting community. As a result, the costs to operate, manage, and maintain your stabilized rental buildings are much greater than they should be.
When creating LIFT, our real estate team at JDIMI analyzed historical insurance data and claims over a 10-year sample size. The results were surprising, as we found the rates and deductibles applied to rental buildings (with the same physical characteristics and claims history as nearby condominium towers) consistently represented a higher multiplier. It was in this moment we recognized a disconnect between the practical business realities of condo vs. purposebuilt rental assets vs. historical perspectives of the underwriting community.
The LIFT program is designed for purpose-built rentals, new build construction, and stabilized assets. However, LIFT will also provide very competitive portfolio-based terms when commercial and mixed-use assets also form part of the overall asset portfolio. This program is an exclusive offering and does not disrupt your existing incumbent relationships. Our underwriting approach is unique and our goal, alongside FRPO, is to advocate for a balanced and healthy rental housing market that promotes a vital rental housing industry.
What does it do?
• New construction limits of insurance - up to $250 million per project, with ability to increase project value as necessary
• Stabilized asset portfolios - up to $100 million per location, with ability to increase asset value if necessary
• Wrap-up liability capacity - up to $50 million per project
• Up front, pre-agreed, and preferred deductible and rates - ease of quoting and does not disrupt your current incumbent relationships
• Lowers premium “per door” costs
• Two-year rate guarantee (claims-free)
• LIFT program is backed by the largest Canadian insurers
JDIMI is one of Canada’s largest, privately-owned professional services firms and strategic partner for corporate insurance, risk management, and employee benefits, providing expert solutions for each step of our clients’ journey. JDIMI and Westmount Guarantee are broker partners under the Navacord group of companies.
As an industry disruptor, JDIMI aims to deliver a wealth of intellectual capital through customized insurance offerings that we have purpose built and customized to best serve our clients and industry segments who seek a consistent, balanced, and commonsense approach to insurance procurement.
For more information or to schedule a meeting, please contact: Jason Cedrone Partner, Account Executive 437-995-0130
jasonc@jdimi.com
Jennifer Sparfel, CIP Account Executive 647-998-7712
jsparfel@jdimi.com
MAXIMIZE SAVINGS WITH INCENTIVES AND EXPERT SUPPORT
At Enbridge Gas, we’re dedicated to helping property managers and building owners reduce costs through our energy-efficiency programs. Our Affordable Housing Multi-Residential program offers financial incentives of up to $200,000 to identify and implement energy-saving initiatives*. This program is designed to not only help you save energy and operating expenses but also to enhance building performance and resident comfort.
Customized Solutions for Budget-Conscious Providers
We recognize that affordable housing providers operate under tight budget constraints, where financial considerations are paramount. Our Affordable Housing Multi-Residential program delivers substantial incentives directly to your bottom line. By working closely with you, we help identify the most effective technologies and provide the necessary incentives to strengthen your business case for approval.
Overcoming Cost Barriers
Budget limitations can often delay crucial building upgrades. Our incentives not only reduce the upfront costs of high-efficiency equipment but also lead to ongoing savings in energy and operational expenses. Investing in reliable, high-performance equipment ensures better safety and comfort for residents, particularly during the colder months, offering significant advantages for both property managers and tenants.
Expert Guidance in Project Planning
Whether you’re planning to replace outdated equipment in the coming years or urgently need to upgrade due to equipment failure, we’re here to understand your goals and provide a comprehensive solution. We offer detailed comparisons between standard and high-efficiency equipment, showcasing the long-term financial benefits of energy-efficient options. This approach empowers you to make informed decisions that align with your operational and budgetary objectives.
We make it easy to get incentives
We appreciate how busy housing providers can be. Bring us in early, and we’ll take care of everything. We’ve simplified the process, making it as easy as possible for customers to get incentives. Our team does all the heavy lifting, from design assistance to verifying savings; we even take care of the paperwork. Our goal is simple—to help affordable housing providers reduce costs and improve the quality of the homes they provide.
We are here to help you
Enbridge Gas makes it easy—with free expert advice and incentives on energy efficiency upgrades. Let us guide you through the process and help get your savings underway. Take the first step and apply today.
1-866-844-9994
energyservices@enbridge.com
enbridgegas.com/affordable
* Any mention of energy savings is based on the assumption that the participant is reducing their natural gas consumption through participation in the Affordable Housing Multi-Residential program.
Making Tenant Insurance Effortless
Embed a tenant insurance quote into your leasing process
Maximize compliance with ongoing policy tracking
Learn more about a partnership with APOLLO apollocover.com/partnerships
At Sparkle, we’re committed to enhancing the laundry experience for both clients and residents. With the introduction of Sparkle WebXpress, we’ve taken a significant leap forward in modernizing vended laundry services. This innovative platform offers clients a seamless, transparent way to manage and monitor laundry operations, all through a simple web interface.
Sparkle WebXpress: Elevating Laundry Management
Sparkle WebXpress is designed to streamline laundry operations for property managers. With portal access via any internet browser, clients can track real-time revenue for each building, ensuring complete transparency and fostering stronger client relationships. The intuitive dashboard provides an overview of all machines, helping clients monitor usage patterns and optimize efficiency.
Smart Technology for Residents
For residents, Sparkle WebXpress offers convenience like never before. They can easily check the status of washers and dryers using their web browser or mobile phone, eliminating unnecessary trips to the laundry room. Additionally, residents can opt to receive text alerts or email notifications when their laundry cycle is complete, adding another layer of convenience to their daily routines.
A New Spin on Convenience: The Sparkle Xpress Payment System
Our Sparkle Xpress Payment System is engineered to provide a hassle-
free experience for both clients and residents. This system seamlessly integrates with our Value Add Center, wirelessly communicating with an internet server to create a network that can be monitored and controlled remotely. This ensures the system is always functioning optimally, and any issues can be addressed promptly.
Through the WebXpress system, our service team can identify idle or outof-service machines before service reports are even filed. This proactive approach allows us to quickly dispatch technicians, minimizing downtime and enhancing the overall quality of our service.
Introducing
Our New Contactless Payment App
In our ongoing quest to make laundry services more convenient, Sparkle is excited to announce our new contactless payment app, now available on the Apple Store or Google Play. This app brings a new level of ease to the laundry experience by allowing residents to pay for their cycles simply by holding their phone near the card reader.
How It Works:
• Download the App: Available on the Apple Store or Google Play; the app is easy to set up.
• Add Your Credit Card: Securely add your credit card information to your account.
• Reload Balance: Top up your balance as needed.
To pay for a cycle, just hold your phone near the card reader—no need to scan QR codes or pair via Bluetooth. The app uses NFC technology, making it as convenient and reliable as our reloadable laundry card system.
Other Features:
• Machine Availability Preview: Check which machines are available before heading to the laundry room.
• Cycle Notifications: Receive notifications when your laundry cycle is complete.
• Instant Refunds and Communication: Easily request refunds and communicate directly with the laundry operator through the app.
Sparkle’s new contactless payment app is the latest step in our mission to provide the most advanced, convenient, and user-friendly laundry solutions. With these innovations, we’re not just keeping up with the times—we’re setting a new standard for the industry.
2024 PAINT & COLOUR DESIGN TRENDS
As we enter a new era of explosive creativity and change, the coming years will see unprecedented shifts in the way we work, communicate, take care of our health, build and navigate our environments, explore digital worlds, create and design, and even how we share our identities with the world.
The prevailing winds of change indicate that cultural undercurrents are shifting in positive, expansive, creative, and LIMITLESS ways.
This year’s design trends and colour palettes are expressed as volumes instead of with unique names because each design direction ultimately represents a piece of a larger, more integrated whole, with the freedom to blend design elements from Volumes I, II, and III.
Dulux 2024 Colour of the Year: Limitless
A fresh, warm hue, Limitless (DLX1091-3)—Dulux 2024 Paint Colour of the Year—contains both the power of a primary and the essence of a neutral. It is strong enough to stand as the leading colour of many projects, and yet works equally well as a supporting tone to both warm and cool shades. It is a fresh and energizing take on a neutral. Limitless works well with a wide range of colours and wood tones. At home with black and brass metals, it looks great with trending polished silver and bronze finishes, too. Its versatility among today’s decor trends is almost limitless!
Trends Volume I – Checking out of the world at large, turning elsewhere
Reflecting an inward-looking focus to create a deeper, more holistically connected relationship with oneself, the calming, soothing, and softening tints and tones of Volume I are offset by warmed earthen and cooling twilight shades. Ancient and futuristic references combine for a quiet and calming spirit.
Trends Volume II – Transforming the world at large into a place of wonder & awe
Through discovering a deepening relationship with nature and other environments, Volume II transforms spaces into places of wonder and awe. A generous range of earthy and natural greens pair with a bouquet of warm and floral hues, further energized by vivacious blues and kept in balance by dark neutrals. In interiors, these colours pair with marbles, resins, and even glossy or lacquered finishes—glamorous, new, and fresh! On the exterior, forever in fashion earthy browns and wood trims with dusty floral hues bring a new level of enchantment.
Trends Volume III – Defying & reinventing the world at large
Referencing popular hues from the Baroque, Renaissance, Art Deco, and Pop Art periods, this palette combines the best of the best. Volume III aims to defy and reinvent the world at large, mashing together eras in a way that reads timeless without feeling formulaic. Elegance blends with a darkened mood in this palette. Juxtapose high gloss finishes to ultra-matte ones; mix contemporary furnishings with traditional architectural details.
GROWING RAT INFESTATIONS
BECOMING A MAJOR PROBLEM FOR ONTARIO’S LARGEST CITIES
By Simon Leith, President, Homepro Pest Control
No one wants to deal with rats. Frankly, they’re terrifying and they are multiplying out of control and quickly taking over major cities and growing communities across Ontario.
Milder winters due to climate change have enabled rat populations to flourish by extending the months when rats can mate and feed. Combine this with construction booms across Ontario, which have disrupted rat habitats underground and forced these critters to search for new homes above ground and in residential neighbourhoods.
Rats present a serious problem for apartment buildings. Not only do they feed in the garbage bins outside of the building, but they can also gain entry into buildings through openings as small as a quarter. Once inside, they will chew through electrical wires, pipes, and gas lines—materials that hold apartment buildings together.
When it comes to apartment buildings, rats pose a serious risk of reputational harm, along with a host of health concerns. Rats and their droppings are known carriers of everything from food poisoning and the hantavirus to bubonic plague.
Disease aside, rats in apartment buildings can often leave residents feeling unsafe. Without quick action, a
rat infestation can spiral out of control. That’s because rats are serial breeders. With roughly eight babies per litter, and a new litter every few weeks, one female rat can generate 15,000 new rats in a year!
So how bad is the rat situation today?
We may think of New York as having a notable rat problem, but we’re not immune in Ontario either.
In Toronto, City councillors are looking to launch a rat task force in the City to deal with Toronto’s everexpanding construction industry and to make sure that rat issues are accounted for as part of any building planning. They note that a plan needs to move quickly, as the more things get mired in bureaucratic red tape, the more time rats have to reproduce.
In Ottawa, the City is trying another solution. Instead of trying to trap existing rats, the City is debating a proposal to cut off the supply of new ones by implementing a form of rat birth control that has been used in some U.S. cities. However, the red tape may again become a critical issue; Health Canada could take two years to complete a scientific review of this new product.
According to CBC News, the proposal isn’t without controversy. While the specially designed birth control is unlikely to seriously harm other animals who may ingest the pellets, it may cause sterility. Additionally, New York has made similar efforts that have been unsuccessful, largely in part due to the city’s crowded population and garbage issues.
What can apartment building owners and managers do to help control the rat population? Here are a few suggestions:
Have a construction plan. If you’re implementing new construction, or doing any underground work, you’re more than likely going to disturb a rat population, and they won’t be happy about it. Have a rodent control plan in place before beginning any work.
Manage your garbage. To rats, your building’s dumpsters are akin to a Michelin-star restaurant. Remember, rats can fit into tight spaces and can smell food from far away. Find tight-fitting solutions that keep trash secure, and store dumpsters safely until waste can be collected.
Call a professional. Fighting a rat problem without a strategic solution can feel like a never-ending game of whack-a-mole. A professional pest control team can devise a long-term strategy, including strategic bait placement and identification of entry points.
20
Upjohn Rd, Suite 103 Toronto, ON, M3B 2V9
900 - 1 Concorde Gate, Toronto, ON M3C 4H9
20 Eglinton Ave West, Suite 1200, Toronto, ON M4R 1K8
Attn: Peter Mills T: (416) 709-0079 pmills@wysemeter.com
Yuhu by HappyCo
Attn: Michael Raab (416) 992-9038 mike.raab@happy.co
• Roma Building Restoration
• ServiceMaster Restore of Mississauga
SOFTWARE
• BuildingLink
• Lutendi Systems Inc
• Payquad Solutions
• Property Vista
SUPPLIES
• H & S Building Suplies Ltd.
TENANT VERIFICATION/ INSPECTIONS
• Canadian Tenant Inspection Services Ltd.
• Gatemaster Inc.
• Rent Check Credit Bureau
Water Management
• LEaC Shield Ltd
• Water Matrix Inc
• Watershed Technologies Inc.
• Watts Water Technologies (The Dictation Group)
Prep your building for heating season
Heating season is around the corner. Make capital improvements now to help save energy† and reduce operating costs. With the Affordable Housing Multi-Residential Program, you receive financial incentives up to $200,000 for boilers, energy-efficient technologies and energy assessments. Plus, free in-suite upgrades and expert assistance every step of the way.
Is
• Reduce energy, maintenance and operating costs.
• Improve the energy efficiency of your building.
• Enhance resident comfort, health and well-being. Why upgrade now?
• Control costs more effectively with automated systems.
eligible? This program is for: • Eligible private market-rate multi-residential buildings‡ • Shelters and co-ops • Social, municipal and nonprofit housing providers • Boilers and boiler controls
• Building automation controls
• Variable frequency drives • Water heaters • Hybrid heat pumps
