CAM January 2016

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ADVERTORIAL

A MESSAGE TO ALL

BUILDING OWNERS AND PROPERTY MANAGERS.

Changes to Electricity Regulations in Ontario that take effect on January 1, 2016 will have a direct impact to electricity costs for Residential Apartment Buildings, Coop Housing and Residential Condo Corporations.

Changes to Ontario Regulation 493/01 provides an exemption from paying the Debt Retirement Charge for any electricity consumed on or after January 1st, 2016 up to a maximum of 1500 kwh a month, multiplied by the number of eligible units. The catch is, a new exemption or declaration form needs to be submitted to the utility before December 31, 2015. If the form is not received by that date, the electricity customer will continue to be charged the Debt Retirement Charge until the form is received by the utility, and will not be eligible for a refund of those charges.

You need to submit the new declaration form if the building (Residential Apartment Building, Residential Condo or Coop Housing) does not have a separate meter for each individual residential unit. If each unit has a separate electricity meter, the declaration form is not required.

Process sounds simple enough, although it has come to our attention that some of our clients have not received the new declaration forms, and have also been misinformed by the utility’s telephone agents; informing our clients that they are only to fill out the declaration form associated to the specific account the letter was meant for; even if they have multiple sites and multiple accounts.

If you have not received the new declaration form from your utility by now, I would strongly recommend that you give us a call or send us an email (you can also contact your utility directly if you wish) because time is running out.

BRIAN McCANN President and CEO Your Electric Bill Analyzed For You Inc.

Editor’s Note

Fresh ideas for 2016

/cammediaedge /cdnapartmentmag /mediaedgecam

There’s no getting around the fact that January is a dreary time of year. Even the newest and prettiest properties can look dowdy when the grounds are covered in slush and the holiday decorations have been put away.

Of course, as winter drags on and all that fluffy white snow crusts over, building flaws become even more accentuated and unsightly repairs beg to be fixed. “Run down” is hardly the image rental property managers want to give off, especially as national vacancy rates rise and the Canadian dollar weakens.

Well if nothing else, now is the perfect time to consider curb appeal and future retrofit opportunities. It’s not only uplifting to explore new landscaping and site fixture ideas, it’s also of great value as we strive to lower energy costs and entice future tenants.

Our Industry Influencer is Greenwin’s dynamic CEO, Kris Boyce. Kris is entering 2016 with a terrific outlook and her spirit is infectious as she ponders everything from team engagement to curb appeal. We hope her enthusiasm for both her properties and the team who runs them shines through in our cover story on page 20.

If you missed the FRPO gala in December, turn to page 16 and read up on the many outstanding accomplishments of Ontario’s top landlords in 2015. And, as usual, our contributors offer up some worthy tips and insights to help you manage your properties better, from marketing and design ideas, to energy-efficiency upgrades that work.

Happy New Year, and here’s to a fresh start!

Editor

Erin Ruddy

Publisher

Senior Designer

Mitchell Saltzman

Designer

Jennifer Carter

Production Manager

Rachel Selbie

Contributing Writers

aula Gasparro, Derek Lobo, P Jessica Green, Richard Vilner, Chaim Rivlin, Andy Schwartze

National Sales

Sean Foley, Stephanie Philbin Rory McEntee

Digital Media Director

Circulation

Steven Chester

Annette Carlucci

Maria Siassina

For sales information call (416) 512-8186 ext. 248 Canadian Apartment Magazine is published six times a year by:

5255 Yonge St., Suite 1000, Toronto, Ontario M2N 6P4 E-mail: info@mediaedge.ca

President Kevin Brown Group Publisher Melissa Valentini Copyright 2016 Canada Post Canadian Publications Mail Sales Product Agreement No. 40063056 ISSN 1712-140X Circulation ext. 234 Subscription Rates: Canada: 1 year, $50*, 2 years, $90*, US $75 International $100, Single Copy Sales: Canada: $12* * Plus applicable taxes Requests for permission to reprint any portion of this magazine should be sent to Melissa Valentini

Sincerely,

Authors: Canadian Apartment Magazine accepts unsolicited query letters and article suggestions.

Manufacturers: Those wishing to have their products reviewed should contact the publisher or send information to the attention of the editor.

Erin Ruddy @ehruddy

The opinions expressed are those of the authors of articles and do not necessarily reflect the views of Canadian Apartment Magazine. This information is general and is not a substitute for legal advice.

Sworn Statement of Circulation: Available from the publisher upon written request. Although Canadian Apartment Magazine makes every effort to ensure the accuracy of the information published, we cannot be held liable for any errors or omissions, however caused. Printed in Canada.

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15-02-27 9:04 AM

CONTENTS COVER STORY 20 Industry Influencer

From building aesthetics to staff engagement, Greewin’s Kris Boyce proves a little caring goes a long way.

FEATURES 16 Best in the Biz

26 The Benefits of Retrofits

By Erin Ruddy

COLUMNS 10 Transactions GTA Multi-residential Market Report

By Richard Vilner 12 CMHC The Rise of the National Vacancy Rate

By Paula Gasparro 28 Portfolio Opportunities Abound for Older Apartments

By Derek Lobo 32 Management Retrofitting for the Millennial Renter

By Jessica Green 34 Insurance Showing you Care

By Andy Schwartze 36 Marketing Marketing and Advertising to Maximize ROI

By Chaim Rivlin

DEPARTMENTS 4

Editor’s Note

37 Ask the Expert 38 Smart Ideas

COLUMNISTS Paula Gasparro, Jessica Green, Derek Lobo, Andy Schwartze, Richard Vilner

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THIS MONTH’S ONLINE EXCLUSIVES ALL THE BUZZ

Welcoming Canada’s newest tenants With the influx of Syrian refugees making their way into Canada, landlords and property managers are reacting both philanthropically and diligently as they anticipate the types of challenges and opportunities that will present themselves with the new wave of prospective tenants.

Business opportunities ample in China and India

FROM THE GREEN BIN

Change to Toronto sewers bylaw on tap for Jan. 1 One of two sewers bylaw changes that are expected to trickle down to building owners and managers is on tap for the New Year. Toronto’s public works and infrastructure committee recently voted to adopt a proposed environmental code of practice for food service establishments.

Real estate reaps smart technology paybacks Smart buildings could be characterized as a venue for colliding cultures as real estate moves away from a tradition of proprietary systems and IT takes on a growing role in operations. A recent seminar even presented that theme in an energy management vs. building automation context, albeit largely as a teaser for a discussion of the broader linkage of technologies to deliver high-performance buildings.

A demand response pilot program will assess the potential to reduce energy loads during peak periods in Ontario.

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Transactions

GTA Multi-Residential Market Summary

By Richard Vilner

RealNet Canada Inc. announced 2015 results for the Greater Toronto Area (GTA) apartment investment market. Total dollar volume for the 12-month period reached $1.7 billion, representing a year-overyear increase of 34 percent compared to 2014, and matching the previous annual investment record that was set in 2013.

Other notable records realized in the multi-unit investment sector in 2015 for the region include new highs in price per unit valuations and new lows for Capitalization Rates. The average price per unit value reached $219,935 in 2015, rising 13 percent year-over-year, while yields have compressed even further to an average of 4.6 percent, and representing a decline of nearly 50-basis points when compared to 2014.

2015 - Notable Trends Foreign investment in the GTA apartment sector gained considerable momentum in 2015, reaching $134 million and representing a surge of 45 percent in total dollar volume over the previous yearly total of $93 million.

The GTA apartment sector also experienced substantial year-over-year growth in the seniors’ residence investment category. In 2014, the overall dollar volume contributed by

seniors’ residence transactions reached $90 million, and grew to $432 million in 2015, representing a staggering 380 percent annual increase. This trend is consistent with Canada’s aging population, which is expected to double in the next 25 years.

2015 – Fourth Quarter The fourth quarter was the region’s fifth best-performing quarter on record totaling $457 million, or 27 percent of the yearly total, and also represents a 30 percent increase compared to the same period one year ago. Incidentally, no foreign investments were made in the final quarter, however four out of the top five apartment transactions in the quarter were retirement communities. On a dollar volume basis these four deals represented almost half of all seniors’ residence transactions in 2015, and 44 percent of the overall quarterly dollar volume.

Top 5 GTA Apartment Transactions for Q4-2015 Transaction Name

Municipality

Price

# of Units

$/Unit

Renessa Retirement Residence

Newmarket

$64,000,000

158

$405,063

Hollandview Trail Retirement Community

Aurora

$58,000,000

125

$464,000

3480 Havenwood Drive & 1485 Williamsport Drive

Mississauga

$50,250,000

264

$190,341

Oak Ridges Retirement Community

Richmond Hill

$40,000,000

129

$310,078

Traditions of Durham Retirement Community

Oshawa

$37,000,000

140

$264,286

10 www.canadianapartmentmagazine.ca

New & Notable Transaction

GTA Apartment Transactions from 2006-2015 GTA Apartment Transactions from 2006-2015

$250 $250

Average $/unit (Thousands) Average $/unit (Thousands)

$200 $200

Total $ Volume (Millions) Total $ Volume (Millions)

$1,800 $1,800 $1,600 $1,600 $1,400 $1,400 $1,200 $1,200 $1,000 $1,000 $800 $800 $600 $600 $400 $400 $200 $200 $0 $0 2006

$150 $150 $100 $100 $50 $50 $0

2007 2008 2009 2010 2011 2012 2013 2014 2015 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Total $ Volume

Total $ Volume

Average $/unit

GTA Apartment Transactions by Type (2014 vs. 2015) GTA Apartment Transactions by Type (2014 vs. 2015)

Total $ Volume (Millions) Total $ Volume (Millions)

$800 $800 $700 $700 $600 $600 $500 $500 $400 $400 $300 $300 $200 $200 $100 $100 $$-

Average $/unit

High Rise High Rise

Low Rise Low Rise

Seniors Residences Townhomes Seniors Residences Townhomes 2014 2015 2014 2015

Other Other

$0

77 Parkwoods Village Drive, North York Located south of York Mills Road and west of Victoria Park Avenue, this property is improved with a seven storey apartment building containing a total of 85 units. The property was constructed in 1950.

The apartment building was purchased for a total consideration of $13,400,000, representing a price per unit of $157,647.

Date of Sale: December 1, 2015 Sale Price: $13,400,000 Capitalization Rate: 4.2% Total # of Units: 85 Price per Unit: $157,647 Brokers: Royal LePage Signature Realty

RealNet Canada Inc. (www.realnet.ca) is the leading real-estate information services company in Canada. Founded in 1995, The Company’s core information product provides coverage in both the commercial real estate investment and residential development markets, powering the decisions of firms involved in approximately 75% of the market activity. RealNet Canada Inc. is an Altus Group company (www.altusgroup.com)

January 2016 11

CMHC

The Rise of the National Vacancy Rate In 2015, Purpose-built Rental Vacancy Rate Hit Highest Level Since 1998

FOR RENT FOR RENT

FOR RENT FOR RENT

Canada’s 35 larger centres saw the average vacancy rate in privately initiated purposebuilt rental apartments increase to 3.3 percent in October 2015, from 2.8 percent in October 2014, according to data from the fall Rental Market Survey released by Canada Mortgage and Housing Corporation. As a result, it’s now at its highest level since 1998.

“The rise in the national vacancy rate was due to lower net migration in regions most affected by low oil prices as well as an increase in the supply of purpose-built rental apartment units,” said Bob Dugan, Chief Economist at CMHC. Overall, the average rent for twobedroom apartments in existing structures increased 2.4 percent between October 2014 and October 2015. In October 2015, 12 www.canadianapartmentmagazine.ca

the average rent for a two bedroom apartment in new and existing structures was $960.

The Rental Market Survey also covers condominium apartments offered for rent in 16 large urban centres, including Vancouver, Toronto and Montreal. In this particular segment of the secondary rental market, rental condominium vacancy rates ranged from a high of 5.3 percent

in Edmonton, to a low of 0.4 percent in Hamilton. Average monthly rents for twobedroom condominium apartments were highest in Toronto ($1,754) and lowest in Québec ($1,065).

Consistent with results from previous surveys, condominium vacancy rates were found to be lower than vacancy rates for purpose-built rental apartment units in most centres, while all centres

CMHC October Average Rent ($) - Selected CMAs & Canada

October Vacancy Rate - Selected CMAs & Canada Apartment Structures of Three or More Units, Privately Initiated

2 Bedroom Units (New and Existing Structures of Three or More Units) 8 7

Source: CMHC, Rental Market Survey * Urban centres with a population of 10,000 + are included in the survey. Detailed reports are available for CMAs.

registered higher average rents for rental condominium apartments. Condominiums are typically newer and tend to offer a greater range of amenities than purposebuilt rental apartments.

The oil-producing centres of Alberta and Saskatchewan saw the largest increases in vacancy rates, reflecting the negative impact of lower oil prices on net migration and employment conditions in these provinces. Overall, the average rent for twobedroom apartments in structures common to both the 2014 and 2015 surveys rose by 2.9 percent.

Developments in the secondary rental market were consistent with the primary rental market. Vacancy rates for condominium apartments in Vancouver and Victoria stood below 1.0 percent, while reaching highs of 5.3 percent and 4.9 percent in Edmonton and Calgary, respectively.

The average monthly rents for twobedroom condominium apartments in October 2015 ranged from a low of $1,065 in the Québec CMA to a high of $1,754 in Toronto.

National vacancy rate increases in the primary purpose-built rental market Between October 2014 and October 2015, the number of primary purpose-built rental apartments in Canada’s largest centres increased by 34,430 units, or 1.8 percent.

This represents a significant slowdown in the pace of supply growth compared to the October 2014 rental market survey, when an increase of over 45,000 units was noted.

Nonetheless, the increase in the supply of primary apartment units outpaced growth in the number of units occupied, which increased by approximately 23,900.

Accordingly, the national vacancy rate rose. Nationally, demand for primary purpose-built rental housing was negatively impacted by lower net migration to Canada

4 3

CANADA

Halifax

Quebéc

Montréal

Ottawa

Toronto

Saskatoon

Regina

2 1 0

CANADA

Halifax

Quebéc

Montréal

Ottawa

Toronto

Regina

Saskatoon

Calgary

Edmonton

600

Vancouver

800

5

Calgary

1,000

2015

Edmonton

1,200

2014

6

Vancouver

Vacancy Rate (%)

2015

Victoria

2014

1,400

Victoria

Average Rent ($)

1,600

Source: CMHC, Rental Market Survey

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January 2016 13 CAM AD - Half Page Island June 2015.indd 1

6/8/2015 4:32:28 PM

CMHC

and weaker employment conditions for younger Canadians who are more likely to rent.

From October 2014 to October 2015, employment conditions deteriorated for those in the 15 to 24 age group, with employment declining by 1.8 percent (over the same period, employment among all those aged 15 and over increased by 0.8 percent). This restrained

demand for purpose-built rental units, as weaker employment conditions for young adults tends to discourage them from leaving the family home to create their own household, most of which would be renter households.

In addition, net international migration to Canada declined by almost 40 percent in the first half of 2015 compared to the first half of 2014 (a reduction of roughly

56,000 persons that was concentrated in the non-permanent resident category).

This decline further restrained demand for purpose-built rental units, due to the high rental rate of new immigrants.

These downward pressures on rental demand were partly off-set by the continued aging of the Canadian population, since rental rates increase past the age of 65. In the most expensive ownership markets of Vancouver and Toronto, relatively high home prices combined with price growth between the 2014 and 2015 surveys likely delayed the movement from rental accommodation to homeownership of young adults and new immigrants, further off-setting downward pressure on rental demand in British Columbia and Ontario.

In the report, comparisons between the results of the October 2015 rental market survey and the April 2015 survey are avoided. A key reason for this is that changes in rents, vacancy rates, and availability rates between the spring and the fall may not be solely attributable to changes in rental market conditions; they could also reflect seasonal factors.

For example, if more people tend to move in the spring than in the fall, it could have an impact on vacancy and availability rates as well as the level of rents. Alternatively, in centres where there are a significant number of university students, vacancy and availability rates could be higher in the spring if students move for the summer.

To the extent that these types of seasonal variations exist, comparing results from the spring and fall Rental Market Surveys could lead to incorrect conclusions about trends in rental market conditions. To avoid this, CMHC has limited its analysis to the results of its Fall Rental Market Survey, comparing results for 2014 and 2015, as well as different centres across Canada.

To take advantage of CMHC’s Mortgage Loan Insurance or to learn more about CMHC resources, contact Paula Gasparro, Manager, Business Development, Multi-Unit Mortgage Insurance at 416-250-2731, via e-mail at pgasparr@cmhc.ca or log on to www. cmhc.ca/ mult-unit.

14 www.canadianapartmentmagazine.ca

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16-13528

Feature

Best in the Biz FRPO Honours Ontario’s Top Landlords and Property Managers for their Achievements in 2015 caption

By Erin Ruddy

The 2015 FRPO MAC Awards, recognizing Ontario’s top landlords and property managers for their outstanding achievements in the rental housing industry, was held at a gala event on December 3rd at the Metro Toronto Convention Centre.

Over 960 people were in attendance as the prestigious awards were handed out, spanning all facets of the dynamic business— from community service and environmental excellence to best renovations and curb appeal.

Skyline Group of Companies emerged as one of the big winners of the night, scooping four of the 12 awards. Honours for the Guelph-based firm included: Community Service, Environmental Excellence, Property Manager of the Year and Resident Manager of the Year. Skyline also received a ‘Top 3’ nomination in the category of Customer Service Award of Excellence.

“It has been a spectacular year of recognition on all levels for the Skyline team,” said Roy Jason Ashdown, CoFounder and Chief Operating Officer of the Skyline Group of Companies. “We are

Morguard’s The Heathview, located in Forest Hill, was named the 2015 rental development of the year.

16 www.canadianapartmentmagazine.ca

Feature

Roger and Alan Greenberg of the Minto Group received the prestigious Lifetime Achievement Award.

Here is a complete list of the 2015 FRPO MAC award recipients: Rental Housing Lifetime Achievement Award Roger and Alan Greenberg (Minto) Property Management Website Winner: Vertica Resident Services – www.vertica.ca Finalists: Greenwin Inc; MetCap Living Management Inc. Advertising Excellence – Single Campaign Winner: Hollyburn Properties – My Hollyburn Dream Vacation Campaign Finalists: Metcap Living Management Inc.; Ferguslea Properties Ltd. Best Curb Appeal Winner: Greenwin Inc./ Hanard Investments Limited – 15 & 25 Canyon Ave, Toronto Finalists: Metcap Living Management Ltd.; Starlight Investments Ltd. Best Lobby Renovation of the Year Winner: CAPREIT – 44 Stubbs Drive, Toronto Finalists: Metcap Living Management Ltd.; Ferguslea Properties Ltd.

Best Suite Renovation under $10,000 Winner: Preston Apartments – 90 Eastdale Avenue, Toronto Finalists: Metcap Living Management Ltd.; Medallion Best Suite Renovation over $10,000 Winner: Realstar – 57 Widdicombe Hill Blvd, Toronto

Environmental Excellence Award Winner: Skyline Group of Companies Finalists: Starlight Investments Ltd.; Hollyburn Properties Ltd. Outstanding Community Service Award Winner: Skyline Group of Companies Finalists: Minto Properties Inc.; Greenwin

Finalists: Starlight Investments Ltd.; Hollyburn Properties

Leasing Professional of the Year Winner: Lillian Abulatifeh (CAPREIT)

Rental Development of the Year Morguard Corporation – 310 & 320 Tweedsmuir Ave, Toronto

Finalists: Ginny Leddy (Park Property Management Inc.); Susan Roy (Minto Properties Inc.)

Finalists: KG Group; Concert Realty Services Ltd.

Property Manager of the Year Winner: Andrea Rocheleau (Skyline Group of Companies)

Amenities Award of Excellence Winner: Oxford Properties – 1101 Bay Street, Toronto Finalists: Metcap Living Management Ltd; Starlight Investments Ltd. Certified Rental Building Member Company of the Year Winner: Oxford Residential Finalists: Melchoir Management; Hollyburn Properties Ltd.

Finalists: Josée Di Corpo (M&R Property Management); Wendy Hope (Minto Properties Inc.) Resident Manager of the Year Helen Howard (Skyline Group of Companies) Finalists: Ponnampalam (Nathan) Ganeshanathan (CAPREIT); Huong Tran (Greenwin Inc.) Customer Service Award of Excellence Winner: M&R Property Management Finalists: Realstar; Skyline Group of Companies

January 2016 17

Taking home top honours for the Community Service Award, the Skyline team took part in many outstanding initiatives in 2015 from picking up litter for Earth Day, to wearing pink as part of a national antibullying campaign.

honoured and proud to see the efforts of our people recognized amongst our industry peers.”

Morguard’s “The Heathview” took top honours for the 2015 Rental Development of the Year. The Heathview is a 30-storey, twin-tower, multi-unit residential development located in Forest Hill Village and the first purpose-built rental property that neighbourhood has seen in 40 years.

“The Heathview is a testament to Morguard’s ability to meet market demand for condo-quality rentals through a sustainable, long-term

18 www.canadianapartmentmagazine.ca

value investment,” said K. Rai Sahi, Chief Executive Officer, Morguard Corporation. “As a LEED Candidate, we are committed to developing projects that use less energy, minimize waste, and provide green spaces.”

The evening culminated with Roger and Alan Greenberg of The Minto Group receiving the prestigious Lifetime Achievement Award. Since Roger took over as CEO in 1991, and Alan later became President of Minto’s multi-residential business, the two have grown the Greenberg family’s legacy with industry-leading work in the areas

of sustainability, customer service and community involvement in Canada’s residential housing industry. Their commitment has had a tremendous impact on providing better housing options for Ontarians.

“An award like this is really not one for the family; it is one for the organization as a whole,” says Roger Greenberg, now Executive Chair of Minto’s Board of Directors. “This year is the 60th year of our business, and this honour encourages us to continue our focus on always doing what’s right – for our business, our employees and our communities.”

Industry Influencer

AHEAD OF TH From building aesthetics to staff engagement, Greenwin’s Kris Boyce proves a little caring goes a long way

By Erin Ruddy

20 www.canadianapartmentmagazine.ca

Industry Influencer

Kris Boyce is known for many things, among them is her ability to put together a competent and hard-working team.

Perhaps it’s her eye for talent. Or, maybe it’s the way she takes promising young individuals under her wing, fostering their growth and exposing them to all facets of this evolving, competitive industry.

Perhaps it’s that she truly cares.

HE CURB January 2016 21

Industry Influencer

As the CEO of Greenwin since 2012, Boyce oversees a combined staff of 500-plus employees. The head-office is a bright, newly refurbished warehouse space located in Toronto’s north end. “These are the real people that make it happen,” she says, pointing out the accountants and marketing coordinators, the leasing agents and the IT staff that fulfill the daily duties of one of Canada’s largest property management firms. “They run the place, not me.”

After graduating high school in the 1980s, Boyce attended Seneca College’s law enforcement program with her sights set on becoming a police officer. “I wasn’t accepted,” she says, frankly. “So like most young, unemployed people I took an entry level job. As luck would have it, the position was with a property management firm in downtown Toronto. That’s where I was taught the street smarts required to be on the front lines of the real estate industry.

The rest is history. Today I have the honour of the being the CEO for one of the largest privately owned third party management companies in the country.”

An honour indeed, but it’s certainly not a role made for just anyone. The roots of Greenwin stretch back to 1944 when Greenwin Construction Company was first founded by Lipa Green and Arthur Weinstock. Back then the company focused on single-family dwellings, but by the mid-50s had expanded into the multiresidential arena, constructing everything from condominiums and apartments to those much-needed affordable housing units. Today, with its Hospital Consulting Division, its development arm Verdiroc, and the 20,000-plus residential units it owns and manages throughout central Canada,

22 www.canadianapartmentmagazine.ca

Greewin is a force of change in the urban development sector.

“One of the things I admire so much about this company is its adaptability,” Boyce says. “Our employees are educated and motivated to remain current. We understand that we must keep up with new technology so that we’re not left behind. We are collaborative and open to thinking outside of the box when it comes to marketing, leasing, IT, rental payments, maintenance request tracking, and community connectors. I believe just managing the bricks and mortar is not enough anymore. Every landlord must build communities.”

Of course, with communities comes a need for effective communication—a practice Boyce says her team excels at.

“We are a high dialogue group. Our social media platforms enable our employees, clients and residents to seek the answers they are looking for. We have that family feeling with our residents and employees that starts with our ownership group.”

What’s old is new Greenwin’s apartment portfolio is one of Canada’s largest (currently it owns/manages 20,000 units throughout central Canada), but like so many rental buildings today, the vast majority of them are now aging, resulting in the need for costly renovations

Industry Influencer

Building photos: David Binder Architect

“

Achieving great curb appeal is just like dating. It is your first impression of how the rest of the date is going to go.”

and retrofits. And, it’s more than just those 1960s and 70s aesthetics that need updating—with “green” and sustainability being top of mind with both investors and consumers, energy-efficiency is a driving force of change.

“We are rolling out many new sub metering programs and lighting retrofits this year, which shows our commitment to the earth,” Boyce says.

“As building owners, each and every day we can make a difference by reducing our impact on the environment. I encourage each owner to complete their lighting retrofits, their toilet retrofits, window replacements, and sub metering. Pace yourself but make it happen for your investments…and for your grandchildren.”

Great curb appeal is something Boyce and her team know a thing or two about, as well, having just won the FRPO MAC award for that category. It was a joint win with Hanard Investments Limited for their property at 15 and 25 Canyon Avenue, a revitalized high rise complex in North York, Ontario.

“Achieving great curb appeal is just like dating,” quips Boyce. “It is your first impression of how the rest of the date is going to go. For all of those mystery shoppers in our real estate markets, the journey begins with…can I find you? Can I find you on the internet? Are the directions clear? Do you answer the phone or online request? Does your asset have a welcome home feeling? Can I find a spot to park when I arrive at your property? Is anyone around to greet me? How did I find the path to and from the start of the tour? I could go on and on, so to answer your question, yes…curb appeal is very important.”

15 and 25 Canyon Avenue, a revitalized high rise complex in North York, Ontario took home the FRPO MAC Award for best curb appeal.

January 2016 23

Industry Influencer Making positive change Winning the MAC award in December was a great way to end off 2015—but another special honour awarded to Kris Boyce herself was one she’ll undoubtedly savour forever. On November 26th, the National Post announced the WXN Canada’s Most Powerful Women: Top 100 Award winners in which Boyce had been selected under the Scotiabank Corporate Executives category.

“To me, it is an honour and a privilege to stand shoulder to shoulder with Canada’s most remarkable, visionary female role models,” she said at the time. “I am proud to join this network of women who are shattering ceilings in every corner of our great country.”

Peer recognition and support WXN is an organization dedicated to the advancement and recognition of women

in management, executive and board roles—something Boyce advocates and has shown a commitment to since becoming CEO at Greenwin. In the last few years under her leadership, the number of women in Greenwin’s executive ranks has increased by 50 per cent. Boyce has also been instrumental in establishing the company’s work culture, fostering an environment in which professionalism and respect are paramount

Greenwin’s award-winning upgrades: New semi-transparent privacy screens were added to ground floor units.

Garden enclosures and site fixtures were added to

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Industry Influencer to the dynamic, regardless of gender or ethnicity. She has been a driving force behind the company’s strategic direction and growth platforms, always staying true to her values and leadership prowess while helping position Greenwin as an industry “Employer of Choice.”

But now with 2015 and all its highs (and a few lows) behind it, where does Boyce see the opportunities for Greenwin as we head into 2016?

provide more usable outdoor space.

“To steal a phrase from information technology lingo, we are going to “disrupt” Greenwin and revisit our best practises…and innovate,” she says.

“Being trailblazers since 1944, challenges are just opportunities to our group. The tough part is being everywhere and in-the-know. But the greatest gift to give yourself in an executive role is to surround yourself with smart people and

let them do their jobs. They will always make you and your company look good.”

Reflecting on the job itself, on the aspects of her work that fulfill her and matter most, Boyce says, “Seeing changes in the communities we manage, building teams of Greenwin Ambassadors who truly care about the health and well-being of the residents.

You just can’t top that.”

Substantial underground garage improvements were made, including concrete slab rehabilitation.

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Feature

The Benefits of Retrofits

M&R Holdings’ Randy Daiter Identifies Energy-efficiency Improvements that Really do Make a Difference

By Erin Ruddy

These days, more and more organizations are fulfilling the roles of both asset management and property management in an effort to grow and perform at a competitive level. While property management focuses on day-to-day operations—such as, general and preventative maintenance; marketing and rental of units; collecting rents and paying bills; enforcing property rules and operating procedures—asset management encompasses bigger-picture components like risk management, asset sustainability, and business fundamentals.

“The overriding goal, of course, is to maximize revenue while minimizing expenses,” says Randy Daiter, Vice President, Residential Properties at M&R Holdings. “There are several components through which this can be achieved.

Improving energy efficiencies, lowering tenant turnover, marketing effectively, and having well-trained, motivated staff are all important initiatives.”

In recent years, M&R Holdings has taken great strides toward improving all of these areas, but when it comes to retrofits and energy reduction—initiatives that fall under both the asset and property management umbrella—tremendous benefits have been realized.

From experience, here are some specific details about the steps and measures that Daiter believes can improve both the comfort of tenants and the long-term value of any apartment asset: 26 www.canadianapartmentmagazine.ca

Hydro • For M&R Holdings, installing sub-meters has created a savings of approximately $50 to $76 per month in electrical bills per suite, while also providing tenants with tools to save and manage their own electricity bills.

• Variable frequency drives were installed for fans, domestic water and HVAC pumps.

• In parking garages, CO sensors and programmable thermostats were installed and heat settings lowered. By replacing parking garage lighting with LED lights, Daiter notes that 20 to 60 percent savings can be achieved with simple paybacks in one to four years.

• Lighting retrofits were made to exterior, interior corridors, stairwells and tenant suites. Old T12 and T8s were changed to LED and motion sensors installed in garbage chute and laundry rooms.

Gas: • Tracking and measuring heating consumption helped make a case to install more efficient equipment and incentives were used to lower costs.

• New exterior and state-of-the-art controls were installed to increase both efficiency and tenant comfort.

• New high efficiency, hydronic boilers and air units were installed.

• Laundry room washers and dryers were switched to new, energy-efficient equipment, allowing temperature pricing to be implemented.

• Windows were replaced with doubleglazed, argon-filled, low E, air-tight windows.

Water: • Water audits are conducted regularly; high efficiency fixtures and ultra-lowflush toilets were added, and incentives were taken advantage of.

Feature • Many laundry room washers were switched to front loading.

• A transition to low water landscaping was made and irrigation systems are being scaled back or removed.

• Water maintenance programs were initiated, including monitoring consumption, checking for leaks and performing regular inspections of toilets and shower heads.

Since 1955, O’Shanter has been a property management and development firm with international standards accreditation in both quality and environmental management. Our commitment to excellence, a tenantfocused approach and a portfolio of over 2500 residential rental units have made us a leading provider of rental housing across the GTA. To learn more visit oshanter.com or call 416.466.2642.

Building Envelope Repairs Balcony Modernization Parking Structure Rehabilitation

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Future plans M&R Holdings is also considering initiatives involving cogeneration. Down the road, Daiter says additional developing technologies worth investigating may include: geothermal, exterior solar lighting, grey water and wind turbines.

Of the multitude of retrofit projects M&R Holdings undertakes annually at its nearly 5,000 multi-residential rental units (collectively owned and managed across the GTA), Daiter says his favourite upgrades are buildingenvelope related. “This includes the window and balcony door replacements and the exterior insulation finishing systems M&R currently has underway,” he says.

The window replacement projects noted above were part of the City of Toronto’s Tower Renewal Hi-RIS program. Under this program, M&R has financed the replacement of windows and balcony doors with long-term financing at competitive fixed rates, enabling it to predict costs over the loan period. “This has permitted us to pursue these improvements and pay for them over time, using savings to offset the costs,” Daiter notes.

In one case study cited by Daiter, the window replacements of a 304-suite (21-storey) rental building led to a savings of 226,826m3 in natural gas (35.8 percent per year). Other benefits included a six figure increase in NOI; a payback in under 10 years; and a doubledigit ROI. Environmentally speaking, reducing greenhouses gas emissions by 429 tons of Co2 per year would be comparable to removing 90 passenger cars from the roads; eliminating 154 tons of waste from the landfill, or the reduction in consumption of 48,273 gallons of gasoline.

Of course with all these environmental benefits and costs savings come the main advantages: increased tenant comfort, enhanced interior and exterior aesthetics; a reduction of pesky portable electric heaters and improved overall marketing efforts. “Your asset grows its value and your tenants love their homes,” concludes Daiter.

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January 2016 27

Portfolio

Opportunities Abound for Older Apartments A Good Location with Access to Amenities will Always Appeal to Lifestyle Renters

By Derek Lobo

New apartment construction is booming in Canada. With more purpose-built rental buildings coming this year, and the number of condominium developers switching gears, changing their condominium towers into rental buildings, no one can deny the industry is surging.

28 www.canadianapartmentmagazine.ca

Portfolio meant a significant upswing in the number of lifestyle renters looking for good apartments in good locations.

Depending on where your older apartment is, and the investment you’ve put into updating it, you’ll be well placed in the market.

Also, older apartment buildings remain a substantial value for money for investors who want to get in on the purpose-built rental apartment scene, but don’t have the capital to invest in a major new development, or who don’t wish to wait for financing, construction and lease-up. All of these things put older apartment buildings in considerable demand, which will help bottom lines and prices.

Meeting the competition So there is no reason for owners of older apartment buildings to fear the rise of new apartment developments.

Owners of older buildings can tap into the lifestyle renter market by taking advantage of their good locations and As these new developments come on stream, how are the owners of older buildings to cope? The new developments will have a tremendous effect on the availability of new apartment stock on the marketplace. For years, the owners of older apartment buildings haven’t had newer competition to worry about.

The big stall of apartment construction since the 1970s due to rent control and overregulation saw to that.

The new kid on the block Now, however, the situation is changing, and the older apartment owners have to change with the times. New apartments automatically come in at the top of the marketplace when it comes to rents and the first crack at the lifestyle renter. As more new apartments come onto the market, older apartments will be pushed further back on the line. The pressure will be on to upgrade units and add amenities, or risk losing tenants to the newer stock.

Fortunately, there are plenty of reasons for owners of older apartments to be optimistic. The marketplace is still strong, with vacancy rates remaining low, in some cases. Demographic changes have

access to amenities, and by upgrading units to modern amenities. Curb appeal is also vitally important, and you should pay close attention to the common areas. A potential tenant’s whole streetto-suite experience should sell the building even before one opens the apartment door.

Consider investing in your common areas. The typical lifestyle renter today is a young millennial who has turned their back on home ownership in the suburbs to head downtown. They consider the apartment to be their bedroom, and the areas outside it to be their living room. They will be impressed if you can offer special amenities that cater to their specific needs, including free WiFi, spacious common areas, even a café setting, or a real café.

If it isn’t possible to add some retail to your common space, market the amenities in the neighbourhood around you, showing exactly where key stores and services are in relation to the building. Today’s lifestyle renters are

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Portfolio shopping for neighbourhoods as much as they are shopping for buildings, so talk up your neighbourhood’s positives.

Renovating for potential tenants and investors Of course, to compete with the new units, you have to offer an apartment that looks new. Renovations to update your units, adding modern amenities and fixtures will offer a substantial return on your investment. In-suite washers and dryers are especially popular, and a sign of a highclass rental. And speaking of selling your neighbourhood, don’t be afraid to sell your units. Invest in a staging service to create a model unit that evokes the lifestyle prospective young urban professionals are looking to achieve. A well-staged unit will generate more leases at higher rents than an empty room every time.

In terms of competing against the large new apartment buildings coming onto the market, there is strength in numbers. Look for other older apartment buildings in your neighbourhood as potential investments. Grouping a number

of buildings close together in a single portfolio offers substantial potential savings from consolidated management costs, maintenance contracts and more. As the operating costs per unit go down, you open up more wiggle room to compete against the new kids on the block.

Building Science & Restoration Consultants Garage & Balcony Restoration Building Envelope Assessment & Remediation

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30 www.canadianapartmentmagazine.ca

Derek Lobo is the CEO of SVN Canada Inc., a commercial real estate brokerage founded on the goal of creating a more efficient commercial and multi-family real estate market through compensated cooperation. Derek has over twenty-five years of experience brokering and consulting for the purpose-built rental apartment sector. Jim Dimanis, President of SVN Canada Inc. is heading the SVN Canada Inc., team. For more information about SVN Canada, including franchising options, call 289-795-9744 or email jim.dimanis@svn.com.

Opportunities abound You may also consider renovating and upgrading units with an eye to selling your buildings. In these situations, you are showing the opportunities that exist in your buildings by renovating a handful of rooms, and illustrating how much increase in rent you’ve achieved. This will attract no end of interested investors looking to enter into the purpose-built rental apartment market, now that they can see where they can reap the rewards.

The purpose-built rental apartment market is constantly changing, and property owners have to keep an eye on that.

However, the investment opportunities remain stronger than ever, not only for new apartment construction, but for older TakeCover_CAM_August_2013_FINAL.pdf buildings looking to consolidate, renovate

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and upgrade. These are good times to invest in the business, and prepare for the future.

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Deal Profile:

security-based facility for condo development Deal snapshot:

First National delivers security-based facility, enabling a longstanding client to build two condo towers simultaneously, despite only 40 per cent advance sales in phase two.

Client objective:

Looking to tackle his first condo development after a successful 50-year career in industrial real estate, the client knew that it would be more efficient for future tenants moving in if both towers were built simultaneously (the two sites shared a parking facility on a structural podium).

The solution approach:

The First National team saw an opportunity to both support a long-standing client’s evolution and to set a precedent in the industry. It was a matter of evaluating the client request properly and figuring out how to use First National’s strengths – service, expertise and speed – to deliver.

Structuring the solution:

The client wanted to secure up to $18 million in financing to build phase two. The First National team tapped its network of investors, ultimately proposing a facility that took security over six industrial buildings and five condo units within the client’s portfolio. In the end, the client received the requested financing amount and avoided the consultant fees ($40 - $60,000) typically associated with construction loans. The deal closed in two months, despite its technical complexity.

Formula for success:

The trust and honesty that have characterized this client relationship for more than 50 years gave the client faith in First National’s approach to this deal. It took ingenuity to create a facility that provided ample funds, and First National was also able to execute quickly and make it convenient and easy for the client.

The key idea:

With the stakes very high – the profitability of the entire project rested in being able to build both towers simultaneously – First National created a deal that worked for the client and the investor. The client got the financing that he needed to fulfill his vision in a way that positioned both him and First National as trailblazers.

To get more profiles of successful deals and other financing insights right in your inbox register for First National’s Commercial Market Update. Type the following into your browser: www.firstnational. ca/Market-Update/

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Management

Retrofitting for the Millennial Renter Putting your ‘Green’ Foot Forward

By Jessica Green

Appealing to today’s modern renter—those increasingly of the millennial generation—is an important pursuit all landlords should take seriously. Born after 1980, millennials are more concerned about environmental issues than all generations before it. A recent study by the Pew Research Center shows that millennials are more supportive of stricter environmental laws; more likely to attribute global warming to human activity; and more inclined to favour environmentally friendly policies, such as green energy development and tax incentives for hybrid vehicles. In addition, millennials are more likely to pay higher prices for environmentally friendly and responsibly made products. With that in mind, here are a few ways you can retrofit your apartment building to help appeal to this passionate, eco-savvy renter.

Management

Open the envelope The exterior of a building—collectively the walls, sealants, roof, foundation, windows and doors— protects the indoor living environment from the harsh outdoor conditions. When considering your energy-efficient retrofitting options, the envelope is the perfect place to start.

To begin with, it’s important to hire a certified energy auditor to come in and fully inspect your property, helping to identify problem areas. For older buildings, this step is of particular importance. Older apartment buildings that were constructed over 30 years ago generally incorporated exterior wall systems with minimal insulating value. These buildings were often constructed of cast-in-place concrete slabs, exterior brick, cinder block interior walls and single-glazed aluminum frame windows.

Updating windows with insulated glazing and replacing dried, cracked exterior sealants will produce an immediate return on investment for both you and your residents.

Indeed, the amount of money you will save in the long run overrides the initial cost of having the retrofit completed—so much so, that a 2012 report from CNT Energy found that performing energy-efficient upgrades to multifamily buildings could cut utility bills by 15 to 30 percent.

Get low It’s not just the exterior portions of your building that can benefit from a green retrofitting. The interior of each suite can be upgraded to help reduce overall water consumption. This can be as simple as switching the shower heads in each suite to low-flow varieties, or installing newer, ultra-low-flow toilets.

“While there will be a slight inconvenience to residents when these upgrades are being made in their suites, overall they will be pleased with the results and the money it will save them—particularly if they have to pay water bills,” says Jordan Edl, Sales Executive with Water Matrix, which specializes in water efficiency services. “In the case of low-flow shower heads and toilets, the amount of time that you will need to be in their suite is often less than 20-30 minutes.”

For the environmentally conscious millennial renter, these small changes can make all the difference. Not only do they want to work for companies that care about the impact they have on the environment, but they want the place they call home to care, too.

Sun power Want to really show you’re on the pulse of the green movement? Solar panels are becoming an increasingly popular retrofit option due to their potential for reducing reliance on non-renewable sources of energy. In Toronto alone, the city’s Renewable Energy Office has committed to meeting a mandate of installing renewable energy systems on all City buildings, where feasible, by 2020. As more and more corporations follow suit, smaller organizations are also taking charge. With a mission to engage as many individuals as possible to foster a clean, solar-powered future, Canadian non-profit SolarShare, which provides opportunities for the public to participate in the development of solar energy projects, raised $3 million in just one year simply by selling five percent Solar Bonds to ordinary people in Ontario. Imagine what a large-scale developer could raise.

When it comes to solar power, the panels that are used for heating water have been found to be very beneficial in buildings where the resident’s main source of electricity costs come from using hot water resources. According to Chris Seepe, a Toronto-based real estate broker, a solar photovoltaic system for a mid-sized building with southern exposure requires about 850 square feet of sloped roof, and a $30,000 to $40,000 capital outlay for a 10-kilowatt AC rooftop system. This outlay is down from the $75,000 it would have cost four years ago.

This is one of the more cost intensive options, and certainly there are drawbacks, which you should research before you make a commitment. However, in this increasingly greener environment, it’s well worth it to investigate every option available to you. Not only will you be helping to attract and keep high quality renters, but you’ll be making an important investment in the future of your property—and our planet.

Jessica Green is the founder of Cursive, a Toronto-based communications consulting firm that specializes in brand messaging with an emphasis on digital media strategy.

January 2016 33

Insurance

Showing you Care When it Comes to Insurance a Well-maintained Property is Vital

By Andy Schwartze

One of the most enduring questions insurance underwriters get asked is: “How much will my premium go down if_____?”

You can fill in the blank with just about anything from hanging a few extra fire extinguishers to installing a seriously expensive power back-up generator system. In any case, typically the answer is received with some astonishment as the premium to be saved is generally insignificant when weighed against the capital cost of the “improvement” that is under discussion. It is not uncommon for the building owner to then shelve the expense and not bother at all. It is very rare that anything, considered by underwriters to be an investment in risk reduction, can be amortized in a way that we like to hope will make the cost worthwhile.

We forget that insurance contracts are “multi risk” documents that offer protection against a long list of sudden and unexpected events and that most risk improvement expenses are tied 34 www.canadianapartmentmagazine.ca

to only one type of event. The most common one that we all recognize relates to a small premium reduction when we install a burglar alarm system.

Insurance rates are built on the basis of a number of factors. Cities and surrounding communities are assessed a minimum “fire” insurance rate. This is based on the extent and reliability of fire-fighting equipment within certain distances. It is also impacted by the hydrant system in place and the ease with which a fire can be responded to and brought under control. For example, overhead street wires can impede firefighting and a frozen lake in February is not considered a water source. Once the community has been assessed a minimum rate to be charged, that rate is now increased by other factors such as the type of building construction, its occupancies, the cost of reinsurance and

also administration. When the insurance contract is finally delivered to the client, the cost consists of many components that the insurer must pay out and, of course, the anticipated profit that the insurer will make after all of its claims obligations are paid in a given year.

So, how do we view the matter of upgrading or retrofitting a building and how does this impact the cost of insurance? I am going to suggest that the matter is not one of saving money, but rather one of maintaining an “attractive risk profile” that will encourage numerous insurers to want to compete for the business. Nothing is more upsetting than to have a bunch of insurers decline to make an offer because they are simply “not interested” in your business.

The word “numerous” is a misnomer as the size of the insurance market for

Insurance

residential apartment properties is very small. You can count the number of insurers who will consider such accounts on the fingers of two hands; the serious players on only one. When a broker suggests that he/she has gone to 25 insurance companies for a quote, it may have happened—except that the broker knew at least 15 of those insurers have never been interested in that type of business. I liken it to asking a plumber to quote an electrical job.

So, with a very small market for apartment building insurance (the auto insurance market is five times as large) the focus has to be on making your building attractive. Landscaping is an excellent visual indicator to insurance inspectors that the owners care about their property. At some point, of course, the insurer will want to know what shape the heating and cooling systems are in. Wiring, plumbing, windows, roof—

the list goes on but it is noticeable to point out that the points of interest are found in matters relating to the building envelope. The reasons are very simple: weather is a major cause of insurance claims. Not only that, weather claims come in large quantities at the same time.

So an insurer’s concern is not how well a unit is staged so that it rents quickly and for a good amount. The insurer wants to know that the roof is dry and can handle the elements.

There’s really no fixed list of items that an underwriter is looking for. The difficult part for the uninitiated consumer is that underwriters are humans and each one brings personal experiences to the table.

Most of us spend a portion of our lives in an apartment and each of us comes away with a different impression of what that experience was like. Those who gravitate into underwriting will remember what bothered them the most and these

issues will impact their view of such risks. So the only truly reliable advice that can be given to an owner is to manage and update his/her building on the basis of having to live there. If you treat your rental property as if you lived there, then no insurance underwriter will have to worry about how acceptable the building is as an insurable risk.

Andy Schwartze, BSc., MBA, CIP, is an insurance broker specializing in property management and real estate. He is a former President of the Insurance Institute, has taught in the community college system and provides continuing education to other brokers.

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Marketing

Marketing and Advertising to Maximize ROI Don’t just Invest in Property Upgrades, Share the Message and Lure New Tenants

By Chaim Rivlin

As with so much of our lives, the way we search, rent, and live in apartments across the country is receiving a high-powered charge from ground-breaking internet technology. Whether you’re a tenant looking for a new place to live or a landlord trying to rent units, your future success lies in online services, software, and programs.

Many property owners and managers understand the long-term benefits of investing in their properties, and are actually spending quite a bit of money to do it right. While some will spend more on exterior appeal (i.e. curb appeal, landscaping), others might invest more in interior amenities (i.e. pool, social rooms, or even theatre rooms).

However, sometimes investing in only one component of an overall strategy can be limiting. Property owners understand that most renters today have a higher set of expectations than in the past, and those in seek of a new apartment will do quite a bit of research online in order to that find that home that meets their specific ‘upgraded’ needs.

In order to maximize your return on investment, you want to be able to rent out your newly upgraded property for what it’s really worth—not settle for a lower cost because you’re not able to find renters who appreciate the upgrades and are willing to pay to enjoy an upgraded living quality.

So while investing in your property is a great strategy for getting higher rents, you’ll need to target the right clientele in order to maximize the ROI on your investment.

36 www.canadianapartmentmagazine.ca

Where to advertise your properties: With 90% of renters starting their searches online, most landlords and property managers will find the best ROI on their marketing budgets by using property search sites like RentSeeker.ca that target a specific audience. It’s also wise to use a variety of websites, classifieds, and social media channels to reach the maximum number of prospects.

Designing and optimizing your property ad: Here are a few pointers to help make your property ad stand out while maximizing your chances of generating qualified leads: 1. Headlines: Make sure your property ad clearly states all important information, including: address, city, and postal code.

Also, make sure you have some “key highlights” that grab a viewer’s attention and help explain the key benefits your property has to offer.

2. Images, videos, floor plans: Using high-quality images of your property will attract the prospect’s attention, and also provide a great visual presentation of your building. As the old adage goes, “A picture is worth a thousand words” — add videos and 3-D floor plans to that, and your ad will stand out from the crowd!

3. Other important features worth mentioning: • Whether utilities are included • Whether your property is pet-friendly 4. Ensure your ads are optimized for search-engines with keywords: If your property is a newer property with specific amenities, make sure to include those keywords within the ad. Also, make sure to include key features like nearest intersection and nearby attractions.

5. Finally, always make sure your ads have a visible and easy to read “Call to Action”: Include phone-number, e-mail address and website (where applicable) allowing prospects to quickly and easily contact you.

By following these steps, you will be optimizing your marketing strategy and achieving maximum brand awareness – which will not only help rent your suites, but at the price you want!

RentSeeker.ca is Canada’s Leading Online Apartment Finder and Real Estate Marketing Company, offering Landlords a full suite of marketing services.

Marketing

Design Trends for 2016 Tips for Updating a Tired-looking Lobby

Anita Wiklem, ARIDO, IDC, NCIDQ Creative Director, Founding Partner Wiklém Design Inc.

Creating an inviting, welcoming feeling is part of your lobby’s job. But, as time ticks on, many building entrances tend took look dowdy and uninviting. To get the latest lobby trends for 2016, we spoke with Anita Wiklém, Creative Director and Founding Partner at Wiklém Design Inc. Whether you are in the market for a full renovation or a fresh coat of paint, here as some considerations:

What are the most important features of a residential lobby?

A lobby should feel safe, clean, and above all, warm and inviting. An artfully lit, beautifully maintained lobby goes a long way in welcoming visitors. Adding a sense of intimacy and warmth can be achieved by playing with paint colours, or warming up a ceiling with the aid of a chandelier. Providing visitors with an inviting bench offset by a piece of bold, contemporary artwork can make a public space feel personalized and intimate. After all, our building’s lobby is often the last thing we see when we leave for the day and the first place that greets us at the end of the day. Making it warm and inviting is essential.

(Serenity). We’ve been seeing a lot of peachy tones lately, and Rose Quartz is a natural progression for a fresh, pastel-toned look. Benjamin Moore chose Simply White (OC-117) as their paint colour of the year in 2016. We love white for its ability to go with virtually everything. As the ultimate neutral, it can work to liven up creams and natural woods and works equally well as a foil to bold jewel tones and heavy wood colours.

What colours and trends will be popular in 2016?

Predicting colour trends can be a guessing game and wildly divergent depending on who is determining the trends. This year, the Pantone Color Institute chose not one, but two colours of the year: Rose Quartz and Serenity. We are predicting that the pink shade (Rose Quartz) will make its way into more new interior designs than the blue

Any emerging trends we should know about?

We expect to see more creative designs involving lighting. Now that incandescent bulbs are being phased out and replaced by LED, lighting companies have responded with creative innovations for retrofitted and new lighting solutions. We are really excited about new LED pot lights that can be installed directly on top of existing junction boxes.

These retrofit lights look just like a designer pot light, but at a fraction of the cost. We will also start to see glowing walls and floors, lighting that fluctuates in colour and intensity.

Overall, rental buildings owners today are investing more in common area upgrades. Our team of refurbishment experts has seen a real upsurge in interest from rental property owners who want to make their buildings more appealing to tenants.

On a tight budget, what would you recommend to refresh a tired lobby?

Fresh paint offers the best bang for the buck, and can provide a dramatic update to a tired space. As long as fixed items, such as flooring, seating, installed wall covers, etc., have a consistent, neutral colour scheme, you can take some risks with paint colour. Adding a punch of colour to a featured wall adds a wow factor without breaking the budget.

The addition of complementary, updated colours that marry beautifully with the existing scheme can be repeated in simple accessories, elevator surround, or winter matting to create a cohesive, “decorated” look. The addition of a piece of contemporary artwork never fails to add colour, texture, and emotions to a space. Love it or hate it, everyone has an opinion about art!

January 2016 37

Smart Ideas

EASY WAYS TO IMPROVE CURB APPEAL

In today’s tough market, the little efforts you make to improve your building’s façade will go a long way toward luring—and keeping—tenants.

Planters Once the snow melts away, flowers are an obvious way to improve curb appeal. Consider putting large planters on either side of your front entrance. Cement urns create a formal look, while heavy ceramic planters can make the entrance look less formal but more inviting. Use tall ornamental grasses for center height without detracting from the flowers you’ve chosen.

Cover the soil with plants that spread out and cascade down the sides of your planter. Choose Lobelia for its tiny blue or purple flowers, or Lamium, for its pink or white flowers. The options are endless, and truly nothing improves an entranceway quite like flowers.

Landscape lighting Landscape lighting enhances both the beauty and security of an apartment building. It contributes to resident safety, especially around paths and stairs, while elegantly lighting up key features of a property. By illuminating the natural beauty of foliage, lighting shows off the property to evening visitors. Landscape lighting can be appreciated both from inside and outside the building. By lighting outdoor social areas, landscape lighting extends the living space, even after dark. Landscape lighting is most often used around decks and patios, pathways, lawns, foliage, and gardens.

Balcony cladding Your building’s exterior makes a major impression and there’s nothing more unsightly than rows of rusting, decaying balconies. When it comes to restoration, the choice of cladding is key to maintaining the look and character of your property. Today, there are many different styles and materials to choose from—glass, opaque glass, wood, stainless steel, and steel panels with hand rails are all options with their own unique benefits. Before you settle on your look of choice, be sure to research all the pros and cons.

38 www.canadianapartmentmagazine.ca

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