Canadian Apartment Magazine * June 2020

Apartment CANADIAN

VOLUME 17 / NUMBER 3 / JUNE 2020

WHO’S WHO 2020

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EDITOR’S NOTE>>

Apartment CANADIAN

BACK IN BUSINESS

/cammediaedge /cdnapartmentmag /mediaedgecam

Summer is here, and the worst of the devastating COVID-19 pandemic is behind us (we hope). Our April issue was filled with stories of critical health and safety guidelines and severe economic fallout we never saw coming — and now, here we are, back to showcasing some of the most impressive mixed-use rental developments Canada has ever seen.

This issue also contains our annual Who’s Who list, which provides a breakdown of Canada’s top rental-housing providers by units owned and/or managed. A great resource compiled thanks to your voluntary efforts, the list is a reminder of the strength and fortitude Canada’s apartment sector is known for.

As difficult as the past three months have been, and as uncertain as the future appears, the stories and data presented in this issue are a reflection of where we are going. As always, rental housing is central to development, and development in Canada is unstoppable.

Also in this issue we look at recent apartment sales, COVID-19’s impact on insurance, ongoing pandemic measures and other pertinent news impacting the industry. To say these times are “interesting” is a massive understatement.

Please follow us at REMInetwork.com for daily updates — including legal, policy and maintenance info — and reach out anytime with story ideas that you feel might be of interest to our readers. In the meantime, wishing you safe and happy days ahead, and a prosperous, COVID-free summer...

Warm regards,

Editor

Erin Ruddy

Senior Designer

Annette Carlucci

Production Manager

Rachel Selbie

Contributing Writers

Graeme Huycke Chris Seepe Andy Schwartze

National Sales

Kelly Nicholls Melissa Valentini

Digital Media Director Steven Chester Circulation

Anthony Campbell For sales information call (416) 512-8186

Canadian Apartment Magazine is published six times a year by:

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President Kevin Brown Group Publisher Sean Foley Copyright 2020 Canada Post Canadian Publications Mail Sales Product Agreement No. 40063056 ISSN 1712-140X Circulation 416-516-8186 ext. 234 circulation@mediaedge.ca 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 Erin Ruddy.

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

Erin Ruddy @cdnapartmentmag

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

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.

rent trends

STAYING AT HOME DURING THE PANDEMIC Rental dwellings vs. single, detached homes Source: Stats Canada

40% of Canadian (urban) households live in homes they own

26% live in rented apartments

Almost half of those in rented apartments are concerned about rising temperatures and confined spaces during summer

Households that rent apartments are more likely to report vulnerabilities in terms of finances, health or social contacts

70%

of those in rented apartments are satisfied with their living space compared to 88% of those in owned houses

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Apartment CANADIAN

VOLUME 17 / NUMBER 3 / JUNE 2020

FEATURE 16 W ho’s Who 2020 Canada’s top apartment owners and managers 26 R einventing the Suburbs Mega mixed-use projects coming soon to the GTA

by Erin Ruddy

COLUMNS 8 Transactions Apartment Market Outlook 10 CMHC Report on Housing

by Graeme Huycke 28 Newsworthy Industry Hot Topics 32 Perspective Carrying the Losses of COVID-19

by Chris Seepe 34 Insurance COVID-19 and your Insurance Policy

by Andy Schwartze 38 Legal The Challenges of Reopening Multi-Res Operations

COVER STORY

Apartment

DEPARTMENTS

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For daily industry news, please follow us on Twitter at: @cdnapartmentmag @REMINetwork

Rendering of 2720 Danforth in Toronto, provided by Brick Visual

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VOLUME 17 / NUMBER 3 / JUNE 2020

WHO’S WHO 2020

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OUTLOOK

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On the Road to Recovery Rental market analysis: March through June, 2020

Findings presented in the latest Altus Group Housing Report show a slump in sales of purpose-built rental buildings, with March transactions down by almost half from February on a combined basis for most major Canadian markets.

Although nationally sales were up slightly in April, this was largely due to one sizable transaction worth $300.2 million, consisting of three properties in Hamilton, Cambridge and Kitchener, for a total of 750 units.

“The COVID-19 pandemic has caused many larger rental investors to delay or postpone buying decisions that had already been made, and many others are reviewing their investment strategies,” the June report said. However, according to Altus Group’s new Key Assumptions Survey, one

in three investors see this as “a good time for opportunistic buying.”

As of April, the top risks perceived for rental market fundamentals are impacts to consumer demand as a result of job losses and hits to income. Another factor, according

RECENT Transactions: Address

City

#of Units

Sale Price (Millions)

Sale Price/Unit

Purchaser

1.

Westview Apartments

Ottawa

78

$12.0

$153,846

Gemstone

2.

600 Eglinton Ave West

Toronto

60

$17.8

$296,667

SpiceCart

3.

25 Villa Rd, 90, 92 James St

Toronto

102

$26.5

$259,804

Starlight

4.

Le Courant III

Montreal

102

$29.8

$291,667

Cons Properties 12

5.

2313 Islington Ave

Toronto

80

$22.4

$280,000

Golden Equity

8 | Canadian Apartment | Part of the REMI Network |

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“Despite healthy rental market fundamentals investors are still concerned about the near-term and the ability of tenants to pay rent.”

to Altus Group, is the potential impact of lower immigration throughout the pandemic, with some regions across the country more heavily impacted than others.

Keith Reading, Director of Research at Morguard, concurs with these observations. “Sales activity has slowed significantly since the March outbreak began,” he said. “Despite healthy rental market fundamentals investors are still concerned about the near-term and the ability of tenants to pay rent.”

In the meantime, managers of rental properties are focusing on the health and safety of their residents and staff.

“As clarity with regards to the economic outlook increases over the next several months, investors will once again return to the market and drive activity levels higher,” he said.

Average rents As for rental demand and monthly rental rates, new data from Rentals.ca shows that the average monthly asking price for all property types in Canada was down 1.4 per cent in May over April, and 7.2 per cent overall from its peak level in September. This is the third consecutive month rental rates have been on the decline.

“Tenants have been more dramatically impacted by pandemic-related job losses than homeowners, and are not currently looking for apartments or other rental accommodation,” said Ben Myers, president of Bullpen Research and Consulting. “This sharp drop in demand has resulted in landlords lowering their asking rents in most major markets across the country.”

The average rent for apartments in Toronto declined by 0.5 per cent in May to $2,290 per month, following a 5.9 per cent monthly decline in April. Rents were also down in Winnipeg, Montreal and Victoria.

But some markets saw an uptick in monthly rents — including London (up 2.9 per cent)

Labour market disruption and hits to household income top risks cited for rental investment Which of the following outcomes from COVID-19 pandemic pose the top three risks for multi-family (rental) market fundamentals?

100% 80% 60% 40% 20% 0% Layoffs/rising unemployment

Decline in More stringent household financing discretionary conditions income Source: Altus Group Key Assumptions Survey, April 2020

Decline in consumer confidence

Small business bankruptcies

Rising government debt

and Edmonton (up 1 per cent) — in May over April, when both cities registered declines of 11 per cent.

Apartment searches Despite the ongoing effects of the pandemic, tenants are still looking at apartments, with pageviews for listings on Rentals.ca having increased for the third consecutive month (since March). In terms of regions, the firm Local Logic observed that Canadians are beginning to expand away from city centres and include markets further afield.

“We captured an increase of 24 per cent in commute distances by car in Montreal,” said Guy Tsor, data scientist at Local Logic. “And a 19.7 per cent increase in Toronto in a span of just two months from users looking for a new house or apartment.”

“Toronto searchers who use public transit have shown a 33 per cent increase in how far they are willing to commute compared to March,” added Vincent-Charles Hodder, CEO of Local Logic. “Possibly because of the pandemic, people are now willing to live a bit farther out of the centre, to avoid higher density areas.”

Other key takeaways from the June National Rent Report: • Condo apartments experienced the steepest decline, with average rents offered by private investors falling by 9.4 per cent year-over-year.

• The average monthly rental rate in Ontario was down 0.6 per cent monthly, while Saskatchewan was down 1.1 per cent and Quebec was down 1.9 per cent. But rents increased in May over April in Alberta, Manitoba and British Columbia.

• In downtown Toronto, the Entertainment District, Cityplace and King West saw average monthly rents come down a reported $118 to $2,630 from January to May • Per-square-foot rent for units from 400 square feet to 800 square feet have declined by 8 per cent to 14 per cent annually in Canada, while units from 900 square feet to 1,500 square feet have declined by between 3 per cent and 8 per cent annually.

| www.REMInetwork.com | June 2020 | 9

CMHC REPORT >>

Housing Market Outlook 2020 New report from CMHC forecasts large falls in housing starts and sales across Canada As the health, social and economic impacts of COVID-19 continue to be felt around the world, declines in employment, incomes and migration are putting unprecedented stresses on financial markets. CMHC’s latest Housing Market Outlook, released May 27th, 2020, looks at the potential ranges for housing starts, sales and prices across Canada until the end of the forecast horizon in 2022.

A

lthough there is still great uncertainty surrounding the potential severity and duration of the pandemic, CMHC speculates that Canada could see historic declines in output, employment and immigration exceeding those observed during the recession of 2008-2009. In turn, these declines could drive large falls in housing starts and sales throughout 2020 and beyond. Meanwhile, in the oil-producing provinces of Alberta, Saskatchewan and (to a lesser extent) Newfoundland & Labrador, the downturn in economic and housing activity could be aggravated.

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“Following large declines in 2020, housing starts, sales and prices are expected to start to recover by mid-2021 as pandemic containment measures are lifted and economic conditions gradually improve,” said Bob Dugan, Chief Economist. “Sales and prices are likely to remain below their preCOVID-19 levels by the end of our forecast horizon in 2022. The precise timing and speed of the recovery is highly uncertain because the virus’s future path is not yet known.”

Unfortunately, a more severe and sustained recession could also emerge if the pandemic were not contained, delaying recovery. The

high uncertainty regarding the path of the pandemic is reflected in CHMC’s wider forecast ranges, with provincial forecasts subject to similar variability — although Alberta and Saskatchewan are likely to experience more prolonged downturns due to the additional negative impacts on output and employment from lower oil prices.

Construction activity The speed with which construction activity could return to pre-COVID-19 levels will depend on the ability of the building industry to adapt to distancing protocols and other

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CMHC REPORT >>

Lease Activity in the GTA What the data tells us Since the start of the COVID-19 period (March 16, 2020), there was a clear shift in leasing activity in the GTA, with Urbanation citing a decline of 25 per cent compared to the same period a year ago, and 39 per cent compared to the first half of March.

According to Urbanation, the decline in rental transactions can clearly be related to the impact of the protective measures and

economic uncertainty stemming from the onset of COVID-19, with renters less willing or able to take on a new lease at current rents, as well as the closing of Canadian borders and the logistical challenges with showing units and planning for a move.

“As rental demand declines as job losses mount, incomes are reduced, and immigration shrinks, the slowing in the GTA

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rental market that appeared in the last half of March will progress for at least the next few quarters given the current economic outlook,” said Shaun Hildebrand, President of Urbanation. “The impact on rents will be something to watch, which will also be influenced by the timing of the record number of units that were expected to complete this year.” containment measures. In addition, uncertainty regarding the course of the pandemic situation could adversely impact the confidence of builders and homebuyers in future economic growth, thus further delaying recovery compared to past downturns.

Housing starts will likely see a decline of 51 per cent to 75 per cent in 2020 from preCOVID-19 levels before starting to recover by the second half of 2021. Housing starts are not expected to rebound to pre-COVID-19 levels by the end of the forecast.

Housing starts: April & May CMHC’s monthly Starts and Completions Survey (SCS) for April was conducted in each province except for Quebec, due to pandemic measures that were introduced there in late March. Residential construction in Quebec resumed on April 20, and data was included in May’s SCS. The trend in total housing starts for May was 196,750 units, down from 198,644 units in April.

Excluding Quebec, the trend was 151,072 units in May, down from 155,600 units in April. This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“Outside of Quebec, the national trend in housing starts decreased in May,” said Bob Dugan. “Higher multifamily starts in Ontario and the Atlantic provinces were offset by declines in British Columbia and the Prairies.

We expect national starts to continue to register declines in the near term, reflecting the impact of COVID-19 measures.”

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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Worksite Safety Amid COVID-19

Tips for multi-residential operators undergoing construction projects Resilience and innovation have always been central to the building industry. However, due to the increased restrictions and challenges associated with COVID-19, the additional processes and measures required to keep people safe have hurled the sector into unprecedented territory.

Jordan Swail, Project Engineer with RJC Engineers (RJC), has spent years dedicated to the restoration of existing buildings. His most recent projects include window, roof, and wall repair projects on large residential buildings.

According to Swail, preventative measures required due to COVID-19 have become a

significant issue, particularly for residential building projects, given the much higher occupancy levels, and challenges of physical distancing when residents are staying at home.

To help address these and other concerns about worksite safety amid COVID-19, Swail offers the following advice:

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1.PLACE BARRIERS AROUND WORK ZONES IN OCCUPIED SUITES For properties undergoing intensive work, particularly at occupied suites, construction of temporary work enclosures can allow contractor staff to maintain physical distancing from residents. Modular hoarding products or sealed poly tarps can be installed quickly and provide safe and sealed airtight enclosures.

Designated access paths to and from the worksite further reduce touchpoints and keep interactions with occupants at a minimum.

“A physical barrier can provide peace of mind to residents who are having their suite accessed by workers, and reduce the potential for conflicts with access requests,” he said.

2. SEPARATE WORKERS FROM OCCUPANTS IN SHARED SPACES In larger multi-residential buildings, addressing

the use and access of workers through shared spaces or common areas is an important part of reducing the risk of infection. By requesting workers to limit elevator use to specific blocks of time, placing them on service, and thoroughly cleaning after, the likelihood of residents and workers encountering one another is significantly reduced. Usage times should be scheduled in advance so residents can anticipate the inconvenience. Hand washing and hand sanitizing stations in common areas, as well as the requirement for personal protective equipment, will further reduce transmission.

“Elevators and lobbies are high risk areas where residents may not follow physical distancing guidelines,” warned Swail.

“Separating time of use can reduce the risk of infection.”

3. UPDATE CONTRACTS TO INCLUDE COVID-19 REQUIREMENTS Most pre-existing construction contracts don’t address the current COVID-19 crisis, which has resulted in contractors relying on Ministry of Labour guidance and government regulations. To protect building occupants, owners, and allow a higher standard of care, Swail advises that specific COVID-19 measures be worked into contracts for any upcoming work.

“With COVID-19 impacts anticipated well into 2021, we highly recommend adapting new contracts to address additional scheduling, access, and PPE requirements,” he said. “The ideal time to implement these changes is before the contract is signed.”

4. ESTABLISH SPECIFIC BLOCKS OF TIME FOR NOISY WORK With a larger majority of people now working from home, noisy work has a higher potential for disruptions. Setting a proactive noisy work schedule – for example, two hours in the morning and two hours in the afternoon – and communicating that schedule to residents through the building management, will allow them to book their meetings accordingly, and ensure some degree of peace is maintained.

“Typical noisy hours of 8:00am to 5:00pm a re n o l o n g e r c o n ve n i e n t w i t h m o re residents likely working from home,” Swail said. “Limiting noisy work hours, or phasing it across different portions of the building, can go a long way to reduce complaints.”

To find out more about worksite safety measures during COVID-19, please reach out to Jordan Swail at jswail@rjc.ca or visit www.rjc.ca.

“With COVID-19 impacts anticipated well into 2021, we highly recommend adapting new contracts to address additional scheduling, access, and PPE requirements.”

– Jordan Swail, Project Engineer, RJC Engineers

rjc.ca

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Costa advised that he no longer wished to occupy his role as president. The emergency meeting took place at the defendant’s (MTCC 1292’s) premises.

At the emergency meeting, the plaintiff and Mr. Da Costa entered into a heated argument, which led Mr. Da Costa to “lose it” and strike the plaintiff on the head with a chair. Mr. Da Costa was charged by the police and received a conditional discharge for assault with a weapon. iff commen The plaintiff commenced a civil action against Mr. Da Costa fo for his use of force as well as MTCC TCC 1292 for fo failing to ensure her safety and nd failing to employ security meet measures at board meetings.

MTCC 1292 brought a motion summary judgment otion for su to dismiss the plaintiff’s plaintiff’ claim against it nly opposed by Mr. Da Costa which was only given his crossclaim MTCC 1292 ossclaim against ag on and indemnity. inde for contribution

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their premises reasonably safe for those who enter it. But what about when an individual commits assault while at one of these meetings? Should the occupier or organizer of the

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board meeting be liable for failing to ensure the safety and security of those lawfully on the premises?

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In Omotayo v. Da Costa, 2018, the defendant occupier, Metro Toronto Condominium Corporation 1292 (MTCC 1292), was successful in dismissing the plaintiff’s claim and the assailant’s crossclaim when a member in attendance at a condominium board meeting struck another meeting attendee with a chair.

Justice Nishikawa found that the duty the condominium corporation owed to the plaintiff did not include preventing an assault that occurred during their condominium board meeting.

Facts of the case T he plaintif f, J ac queline O mot ayo, was a resident and former chair of the condominium corporation. The defendant, Jose Da Costa, was also a resident and former president of the condominium corporation. An emergency board meeting was held on Oct. 4, 2011, to discuss the future organization of the board as Ms. Omotayo had recently been removed from her position as chair and Mr. Da

By Steven Chester

SERVING THE FACILIT Y CLE ANING & MAINTENANCE INDUSTRY

Let’s face it, we all want our businesses to be social media rock stars, and we know it ain’t easy.

It’s becoming more prevalent that some of the most popular social media platforms have been infiltrated by those who game the system.

This includes those that buy fake followers and “likes” in order to create the illusion that their social media profile is more popular than it is.

These fake followers are predominantly bots – accounts run by software designed to look and act like real people.

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New services are also popping up that allow authentic social media accounts to become part of the bot game. By signing up for the service, the user authorizes their account to automatically like, follow and randomly comment on other users’ posts, and in turn they trade that fake engagement with other users. Sound harmless enough? The thing is you have no say in in the message your account is spreading or where it ends up.

CARING FOR FRAGILE FLOORS

Summary judgment motion udgment m positi MTCC took the position that its duty w is confined confine to the physical under the law condition of the premises premise and foreseeable e unforese risks, not the unforeseeable conduct of individuals in attendan attendance. Meanwhile, Mr. Da Costa that MTCC 1292’s a argued th s to having rules of conduct duty extends s, policies re for meetings, relating to abusive l an gu a g e, thre at s aan d intimid atin g d a duty to h behavior, and hire and supervise competent professional professionals to oversee its luding, if appropriate, ap business (including, security Cos further argued personnel). Mr. Da Costa ult was foreseeable fore that the assault given the M quarrelsome nature of MTCC 1292’s board nd a prior unrelated u meetings and incident involving the plaintiff and another member of MTCC 1292 wherein the police was 292 wherei called. ng her dec In reaching decision, Justice Nishikawa looked Coleiro v. Premier ooked to C s where summary sum Fitness Clubs judgment d in favour of the defendant was granted

MALL GERMS: TOP FIVE HOT SPOTS

Ask yourself this: What’s more important, having 50,000 cosmetic followers, or having

500 followers who are in your target market REMEDYING FOUR that actually want to hear from you?

COMMON CARPET As a consumer, it’s even simpler, as PROBLEMS deceptive tactics are easy to spot. If you’re using underhanded methods to promote your business, this can be viewed as a reflection of your product or service. Your integrity is at stake.

This is one of the more complex topics that can’t be fully covered in this space. As always, I invite you to stay social and continue the conversation on Twitter at @Chestergosocial where I’ll share a link to the full article.

SCENT OF

SUCCESS Steven Chester is the Digital Media Director of MediaEdge Communications. With 15 years’ experience in cross-platform communications, Steven helps companies expand their reach through social media and other digital initiatives. To contact him directly, email gosocial@mediaedge.ca.

www.REMInetwork.com | June 2018 15

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P A R T

O F

T H E

CANADIAN APARTMENT WHO’S WHO 2020

IN THE CANADIAN APARTMENT INDUSTRY

MANAGE ONLY The DMS Group MetCap Living Management Inc. Briarlane Rental Property Management Inc.

CERTIFIED NUMBER OF RENTAL UNITS BUILDING

23,623 22,850

OWN ONLY Lanesborough Real Estate Investment Trust I.G. Investment Management, Ltd.

CERTIFIED NUMBER OF RENTAL UNITS BUILDING

MANAGE & OWN

CERTIFIED NUMBER OF RENTAL UNITS BUILDING

1,170

CAPREIT

45,129

1,107

Boardwalk Rental Communities

33,263

15,057

Manulife Real Estate

1,052

Starlight Investments

31,303

Société de Gestion Cogir

14,000

Ivanhoe Cambridge

984

Realstar Management

28,328

Medallion Corporation

11,129

946

Homestead Land Holdings Limited

27,471

Sterling Karamar Property Management

Centurion Asset Management

10,979

QuadReal

846

Northview Apartment REIT

26,723

GWL Realty Advisors

9,255

Fiera Properties

658

Société de Gestion Cogir

10,000

Devon Properties Ltd.

7,150

Vancor Group Inc.

381

The DMS Group

23,623

Shelter Canadian Properties Limited Berkley Property Management Inc.

5,896

Osgoode Properties

266

5,667

Concert Real Estate Corporation

167

MetCap Living Management Inc. Timbercreek Asset Management

22,850 21,580

| www.REMInetwork.com | June 2020 | 17

CANADIAN APARTMENT WHO’S WHO 2020

CERTIFIED RENTAL BUILDING

RANK

UNITS MANAGE

OWN

BUILDINGS BOTH

TOTAL

MANAGE

OWN

BOTH

TOTAL

1

CAPREIT

45,129

45,129

551

551

2

Boardwalk Rental Communities

33,263 33,263

211

211

3

Starlight Investments

31,303

31,303

476

476

4

Realstar Management

28,328 28,328

262

262

5

Homestead Land Holdings Limited

27,471

27,471

225

225

6

Northview Apartment REIT

26,723 26,723

344

344

7

Société de Gestion Cogir

14,000

10,000 24,000

108

51

159

8

The DMS Group

23,623

23,623

191

9

MetCap Living Management Inc.

22,850

22,850

10

Timbercreek Asset Management

21,580 21,580

251

251

11

Skyline Apartment REIT

18,336

18,336

209

209

12

Killam Apartment REIT

16,325

16,325

199

199

13

Briarlane Rental Property Management Inc.

15,057

14

Minto Properties Inc.

1,069

15

Berkley Property Management Inc.

5,667

16

Mainstreet Equity Corp.

17

Medallion Corporation

18

Sterling Karamar Property Management

19

InterRent REIT

20

QuadReal

21

Morguard

22

Drewlo Holdings Inc.

23

GWL Realty Advisors

24

Park Property Management Inc.

25

Centurion Asset Management

26

Globe Property Management

27

Devon Properties Ltd.

7,150

28

Shelter Canadian Properties Limited

5,896

29

Osgoode Properties

30

Royal Property Management

31

BentallGreenOak

32

M&R Holdings

33

Concert Real Estate Corporation

34

Prospero International Realty Inc.

18 | Canadian Apartment | Part of the REMI Network |

150

191 -

15,057

215

11,764

12,833

21

5,817

11,634

45

11,213

11,213

215

3

299

320

48

96

272

272

11,129

11,129

72

72

10,979

10,979

134

134

846 841

10,226

10,226

9,115

9,961

8,800

9,641

9,338

9,338

9,255

9,255

946

8581

8,581

7,481

8,427

7211

7,211

5 3

246

246

39

44

23

26 66

53

66 53

9

75

75

66

75

79

79

7,150

153

599

6,495

48

5,125

5,690

1

5,000

5,000

150

150

4,996

4,996

32

32

299

266

167 4,063

4,810

4,810

3,908

4,075 4,063

153

1

2 81

3

51

86

88

38

38

20

22 81

CANADIAN APARTMENT WHO’S WHO 2020

CERTIFIED RENTAL BUILDING

RANK

UNITS MANAGE

OWN

BUILDINGS BOTH

TOTAL

MANAGE

OWN

BOTH

TOTAL

35

Kelson Group

3,984

3,984

56

56

36

Williams and McDaniel Property Management

2,946

2,946

87

87

37

Colliers International

38

Old Oak Properties Inc.

39

O'Shanter Development Compant Ltd.

40

Apollo Property Management Ltd.

41

2,879

2,879

39

39

2,481

2,481

450

1,800

2,250

2,100

40

The Brown Group of Companies Inc.

717

1,407

42

Kings College Management Limited

2,100

43

Greenrock Property Management Ltd.

2,000

2,000

7

7

44

WJ Properties

1,907

1,907

13

13

45

Manulife Real Estate

793

1,845

1

10

46

Lawrence Construction/Grant Management

805

1,664

16

25

47

ONNI Group

1,657

1,657

48

Southwest Properties Ltd.

1,583

1,583

49

Melchior Management

462

1,093

1,555

50

Lameer Management

1,059

489

1,548

51

Kente Property Management

52

SABJOY INC

53

Twin City Management Ltd.

54

Preston Group

1,182

1,182

4

4

55

Davpart Inc.

1,180

1,180

14

14

56

Lanesborough Real Estate Investment Trust

57

State Building Group

58

I.G. Investment Management, Ltd.

59

Niot Investments Holdings Ltd.

60

Ivanhoe Cambridge

61

Vancor Group Inc.

62

BlueStone Properties Inc.

63

Kroma Management Ltd.

64 65

1,052 859

1,216

16

1,184

15

5

18

23

2,140

10

2

12

2,124

10

9

19

2,100

20

1,107

9

28

28

19

34

53

51

14

65

60

60

0

984

0

15

1,111

15 15

1,107 1,000

381

9

1,170 1,111

20

1,353 1,184

1,170

108

15

5

1,000

5 19

984

7 17

15

19 7

489

978

7

24

48

961

961

11

11

913

913

15

15

Choice Properties Real Estate Investment Trust

858

858

Real Estate 360 Property Advisory

823

823

20

20

| www.REMInetwork.com | June 2020 | 19

CANADIAN APARTMENT WHO’S WHO 2020

CERTIFIED RENTAL BUILDING

RANK

UNITS MANAGE

OWN

BUILDINGS BOTH

TOTAL

MANAGE

OWN

BOTH

TOTAL

66

BayShore Property Management

712

712

15

15

67

The Enfield Group Inc.

700

700

4

4

68

McCor Management

661

661

11

11

69

Fiera Properties

70

Colonnade BridgePort

628

628

3

3

71

Equitable Real Estate Investment Corporation Ltd.

614

614

29

29

72

Westcorp Property Management

520

90

610

1

73

Northland Properties Inc.

552

552

74

Atlantis Realty Services, Inc.

75

Goodwood Property Investment Ltd.

76

Lionheart Property Management Inc.

400

400

77

Gulf Pacific Property Management Ltd.

348

348

4

4

78

Warrington PCI Management

346

346

6

6

79

Richmond Community Management Services Corp.

259

259

2

2

80

Canahahns Company Limited

224

1

81

Rentalys

208

5

82

17A Properties

200

200

5

5

83

Sluis Properties

185

185

8

8

84

Blackwood Partners Inc.

85

Glenview Management Limited

86

Equium Group

132

132

10

10

87

Wilson Blanchard Management Inc.

122

122

4

4

88

Summa Property Management

77

77

2

2

89

Regency Group

90

Taft Management Inc.

60

60

8

8

91

Triovest Realty

53

53

7

7

92

Dayhu Investments Ltd.

93

ICC Property Management Ltd.

94

Ronmor Holdings Inc.

20 | Canadian Apartment | Part of the REMI Network |

658

658

520

520 400

15

209

208

174

75

49 14

12

5

6

9

9

8

400

174 161

12

8 3

2

2 1

75

3 5

2

161

3

10

1

10

49 14

11

11

1

1

MetCap_CPM_WhosWho_Supplement_2017.pdf

1

2017-03-20

12:28 PM

#1

RANKED APARTMENT MANAGEMENT COMPANY

C

M

Y

CM

MY

CY

CMY

K

MetCap Living knows the importance of your property investment. With over 30 years in professional property management and experience in owning and managing all aspects of multi-unit housing, we have the expertise to boost your NOI. From Marketing, Leasing, Utilities and Site Management, Collections and Accounts Receivable, we tailor our services to your needs.

We manage over $2 Billion in assets owned by private families and institutional investors. Our focus is on revenue growth and vacancy reduction, while maintainting strict control over expenses. We also To ensure the health of your bottom line, contact: Kazi Shahnewaz, Director, Business Development Cell: 647.887.5676 k.m.shahnewaz@metcap.com www.metcap.com

A premier real estate services company in Canada DMS Property Management is one of Canada’s leading apartment managers with a portfolio of over 20,000 units

www.dmsproperty.com

416-736-2524

| www.REMInetwork.com | June 2020 | 21

COVER STORY >>

RENTAL HOU OF THE FUTU How will COVID-19 impact residential building design?

COVER STORY >>

USING URE

By Erin Ruddy

When architects set out to design a living space, the end result is informed by many factors — occupant lifestyle and aesthetics being among them. Add in the threat of a deadly pandemic, and what used to be the hallmarks of multi-residential building design have suddenly altered considerably. Today, developers and designers planning purpose-built rental communities must incorporate health and safety in a way they’ve never had to before.

| www.REMInetwork.com | June 2020 | 23

COVER STORY >>

Flexible amenity spaces With communal spaces and shared amenities being important features of any building, particularly in apartments where the units are on the small side, King revealed changes are already underway to how these areas are being approached.

“We are looking at how to re-program both our indoor and outdoor amenity spaces. We are looking to create more flexibility to allow for continuous use by individuals or smaller groups,” he said. “Bookable spaces where students can study...conference rooms to support working from home...outdoor dining areas and unique play spaces — these features are going to become even more important in the future.”

5507–5509 Dundas St. West 21 Storeys / 251 Units / 276,525 square feet

J

onathan King, principal at the architectural firm BNKC has led the design on several notable projects — including two Toronto apartment developments currently underway at 2720 Danforth Ave and 5509 Dundas, and the East City Condos redevelopment project in Peterborough. With King’s experience in residential design and the pandemic continuing to pose a threat, his insight into what will emerge in terms of trends, is not only timely, but crucial.

“The main drivers are aesthetics, durability, life-cycle costs, flexibility — and now infection control in the wake of COVID-19,” he said. “I believe that the consideration of materials used in public and high traffic areas and design of the mechanical systems will be reconsidered.”

Designers will strive to achieve a balancing act by creating a welcoming, visually-pleasing space while also prioritizing cleaning and maintenance, factoring in the need for potential retrofits should it be necessary to reduce the spread of future infections.

“Also, technology will play an even greater role in helping us manage these spaces,” he continued. “For instance, allowing residents to enter their building and call an elevator from their mobile device without touching a surface as they pass up to their suite, or booking a conference room for a work-from-home meeting. System integration will play a bigger part of future solutions.”

24 | Canadian Apartment | Part of the REMI Network |

5507-5509 Dundas is a catalyst to the redevelopment of central Etobicoke by the City of Toron-to to promote density through mixed-use, transit-oriented development. One of the first highrise developments in the neighbourhood, this 21-storey rental apartment targets young profes-sionals who desire easy access to Pearson Airport and Downtown Toronto, while avoiding the high cost of the downtown housing market.

The building offers generous indoor and outdoor amenities that encourage a social culture for the tenants, including a spacious lobby, a bike repair workshop, pet wash station, and exercise club.

The 21-storey tower is accompanied by a series of townhomes, addressing the need for quality purpose-built rental accommodation of all kinds. Young professionals seeking beautiful design and serviced amenities that don’t necessarily want to buy into the condo market will likely make up the bulk of the tenant-base.

COVER STORY >>

2720 – 2734 Danforth Avenue 9 Storeys / 81 Units / 59,530 square feet 2720 Danforth Avenue is a new purpose-built rental building coming soon to an area of Toronto that is only now beginning to experience significant infill. Situated along a transit-rich corridor, the mid-rise apartment will contain 81 units and offer a mix of retail and a ‘hotel’ component at the second level.

The façade is masonry with a series of punched windows, responding to the eclectic urban fabric of the neighbourhood and respecting the cultural assets that already exist on the site. The designers took their inspiration from two heritage buildings to inform the exterior and complement the streetscape. The first building is in scale with many along the Danforth. The second is late 18th century and is one of Toronto’s first inns, The White House Hotel (1782).

Rendering by Brick Visual

Affordability As physical distancing and work-from-home measures continue to keep many people out of the office, the pandemic is showing us that remote work is viable, and that in some cases, it may even be preferable.

“While the jury is still out on what the actual outcomes may be in terms of work productivity in the wake of COVID-19, what’s clear is that working remotely has, for some, proved to be possible,” King said. “This may open the door for some young people in the workforce to reconsider the affordability challenges they face in renting in Toronto; they may even consider moving further afield. We could see a mass migration to the suburbs and a need for residential design in those places to appeal to a young “urban” clientele in search of a more balanced lifestyle and, more importantly, space.”

In fact, this movement is already happening with densification initiatives underway in several GTA satellite cities. To contend with the population boom, several developers are building mega mixed-use projects to accommodate the growth and appeal to this very demographic King speaks of. The East City residential development at the St. Joseph’s Hospital in Peterborough is a great example of this. Scheduled for completion in fall 2020, the old St. Joseph’s hospital site is currently being converted into offices, condos and rental units.

Aside from COVID-19 and ongoing supply shortages, what other forces are reshaping multi-residential building design?

According to King, affordability and a diverse spectrum of unit types are as important as they were pre-pandemic.

“With the City of Toronto’s mandate to increase housing supply, specifically around purpose-built rentals, new development continues to be a major priority — even with the economic slowdown caused by COVID-19,” he said. “This is a fact that developers are attuned to. They are focused on delivering new housing units to the regions in need — upgrading or infilling existing rental sites, through programs like the Tower Renewal Project.”

Meanwhile, new technologies, collaboration and better streamlined processes are helping to bring more rental

projects to fruition. While international travel might be off the table for most individuals, at least for the foreseeable future, the need for adequate housing will never go away.

“What the COVID-19 situation has demonstrated is that it’s very possible to work remotely with technologies like VPN, Zoom, and Teams, but as powerful and liberating as these tools may be, they are no substitutes for face-to-face interaction and collaboration,” King said.

“The challenge is not only in our ability to connect through technology, it’s also a matter of our mental health...the need for social interaction and access to nature.”

Ultimately, the question of affordability must be coupled with all these other needs human beings are born with. But one thing remains certain, rental apartments of the future won’t resemble what they used to. | www.REMInetwork.com | June 2020 | 25

FEATURE >>

Reinventing the Suburbs Mega mixed-use projects set to transform GTA

by Erin Ruddy The Greater Toronto Area is in the midst of a major growth spurt, with estimates from the Ontario government predicting a population increase of 50 per cent over the next 25 years. With international migration driving this rapid expansion, and the growing technology sector spurring a broader business boom, developers and planners have been busy seeking viable, long-term solutions to accommodate the unprecedented growth.

O

n June 5th, the Urban Land Institute hosted a webinar featuring successful “mega mixed-use projects” currently underway. Looking at transit, employment, health care, education, community facilities and general infrastructure, the panelists presented their master plans for a full spectrum of highdensity housing.

“Explosive growth in the GTA has been contained within an ecological greenbelt,” said moderator Rob Spanier, President of Spanier Group and Chair of the Advisory Board at the Urban Land Institute, Toronto District Council. “To accommodate the more than 100,000 new residents per year and the associated economic expansion, municipalities in the Greater Toronto and Hamilton Areas have been advancing the development of their urban centres in a way that will ultimately deliver a series of vibrant edge cities.”

Ken Greenberg, urban designer, teacher and principal at Greenberg Consultants, spoke of the Greater Golden Horseshoe, presenting a vision for a multi-centered region leveraging mass transit infrastructure expansion. From Markham to Vaughan, Brampton to Oshawa, Toronto’s satellite cities — once considered

26 | Canadian Apartment | Part of the REMI Network |

auto-dependent suburban communities peppered with strip malls and dormant manufacturing facilities — are now being reimagined as “work, live, play” destinations with vibrant downtown cores of their own. And at this point, it appears not even the novel coronavirus can stop the momentum.

“Particle accelerator” Referring to COVID-19 as a “particle accelerator, forcing us to do things in a more resourceful and urgent way,” Greenberg said the pandemic has done anything but waylay the multi-centric vision for the suburbs he and his fellow planners share. “We are in the throes of a major paradigm shift,” he said. “With immigrants and visible minorities making up over 50 per cent of our population, we need to change how we move, live, and access services. We need to move toward a more sustainable future.”

But achieving that future, according to Greenberg, means boldly going back to bikes. It means planning urban centres to be walk-centric versus auto-dependent, with mass transit facilitating it all.

FEATURE >>

LEFT: A rendering of the Square One mixed-use development currently underway in Mississauga city centre.

RIGHT: A rendering of the “Lakeview Village” development, which will soon occupy an abandoned power plant just west of Mississauga.

Leslie Woo, Chief Development Officer at Metrolinx, revealed that high-level plans for developing the region have been in the works for more than two decades. “The building blocks started in 2001, but the real catalyst was Ontario’s 2009 investment of $9.5 billion into expanding mass transit throughout the GTA,” she said.

Bringing more confidence to edge city densification initiatives, the province has just announced an additional $60 billion in funding. “This will enable us to invest in stations at the main corridors, technology for smart cars, infrastructure, and the amenities needed for these cities to pivot away from a heavy reliance on automobiles,” Woo said, adding that collaboration and solid planning were integral to the process.

And with several mega mixed-use projects currently underway, it’s no longer just a vision, but a reality in the making.

Bookending the east and west ends of Toronto, the cities of Mississauga and Scarborough are in the midst of welcoming two massive new developments located at Square One Mall and Scarborough Town Centre. Presenting master plans for both sites, Marc Cote, Head of Development at Oxford Properties Group, said the goal is to create “walkable, sustainable mixed-use communities” with open spaces and amenities galore.

In Mississauga, the 18 million square foot development will accommodate 35,000 residents, while supporting employment growth and making proficient use of public and private investment in transit and community infrastructure. The site will include two residential towers (one rental and one condominium) for a combined total of 1,000 new units. Scarborough Town Centre, meanwhile, will include three towers in total offering 1,300 units.

In both cases, Cote said that the shopping centres and transit availability were instrumental to the projects moving forward.

West of Mississauga and ideally located on the shore of Lake Ontario, Argo Development Corporation, one of the five partners of Lakeview Community Partners Limited, is embarking on a project known as Lakeview Village. Brian Sutherland, Director of Development at Argo, said the new community will breathe

much-needed life into Mississauga’s waterfront as it transforms an abandoned coal-fired power plant into a vibrant, sustainable mega mixed-use community where residential density and job potential abound.

Set on 177 acres, the master plan includes 8,000 residential units, 67 acres for open waterfront space, and a continuous waterfront trail. Features like diverse housing, dedicated pedestrian and cycle pathways, connection to transit, and year-round recreational and multicultural programming have already earned the development a BILD Award for best new community (planned/under development).

Demand for housing amid COVID-19 Despite the economic slowdown imposed by the ongoing health crisis, the four panelists concurred that demand for a full spectrum of housing triggered by the explosion of growth in edge cities is not likely to decline. “The key challenge is to ensure we can continue at speed,” said Woo. “This [health crisis] has driven home the “work, live, play” concept and helped us conceive of an edge city with greater emphasis on hygiene, health, safety and security.”

“It has been eye-opening,” added Cote about the impact of the pandemic on Oxford’s mega mixed-use projects. “It raises questions about the future — about how people are going to congregate, socialize and work.” It also underscores the importance of resident access to open space and nature. In other words, the timing of it all and the valuable lessons currently being learned, are all going to influence the design of future developments in ways that could not have otherwise been foreseen.

“De-concentrating…moving away from one urban centre,” said Greenberg. “If anything, the pandemic has reinforced this idea. People will want to be closer to home, closer to their kids and their neighbourhoods. [COVID-19] has made the concept of distribution throughout multiple urban centres more appealing.” | www.REMInetwork.com | June 2020 | 27

NEWSWORTHY >>

Industry Hot Topics Devimco shares Longueuil mixed-use development plans

D

evimco Immobilier has joined forces with the City of Longueuil on the development of a major mixed-use project above and surrounding the Longueuil– Université-de-Sherbrooke métro station.

Valued at nearly $500 million, this transitoriented residential development with a total area of 1.2 million square feet, will include the construction of 1,200 rental housing and condominium units. It is the largest economic project to be announced in Québec since the start of the COVID-19 pandemic.

According to Devimco, the project aims to create a real synergy between the various components, while producing a superior-quality living environment for future residents. “Our Longueuil project will be revolutionary because it will be based on concepts that will respond to the new realities generated by the pandemic,” said president of Devimco real estate, Serge Goulet. “Discussions are currently under way with Québec furniture industry players to adapt the apartments and condos for teleworking.”

Featuring two 22-storey buildings for rental units and two 22-storey condominium towers, the rental buildings will overlook a vast lower extension (basilaire) above the

existing métro station. Already served by local businesses, the Longueuil–Universitéde-Sherbrooke métro station site and its surroundings offer opportunities for quality commercial development. The site is already considered a knowledge hub with the presence of three universities: the campuses of Université de Sherbrooke, Université de Montréal and Université du Québec à Montréal (UQAM).

“Our project is aligned in every way with Devimco’s philosophy,” said Goulet.

“The recipe is simple, but ambitious. We are responding to Longueuil’s vision by designing a multifunctional urban hub where a combination of experiences is an essential condition for creating a true living environment. What we are developing is an integrated blend of amenities, in spaces where homes, work environments and local services are located side by side. It will also be possible to enjoy cultural and food experiences, and even—as is already the case—to study there.”

New high-rise rental towers planned for Toronto’s West Don Lands

T

oronto’s West Don Lands community could see a pair of high-rise rental towers in the not-so-distant future, to be designed by Henning Larsen Architects.

Plans for the site known as 125R Mill Street include 198 affordable units proposed across 54,455 m² of residential space.

Submitted plans show that residents will have access to substantial indoor and outdoor amenities, including a ‘Skylounge’ wrapping around the mechanical penthouse of the taller 45-storey west tower. At ground level, a six-storey podium would contain 23,872 m² of office space and 481 m² of at-grade retail uses.

The project would mark the first major office development in the West Don Lands area and the third development to deliver affordable rental housing.

Currently, a total of 682 affordable rental units are planned for the West Don lands developing neighbourhood.

28 | Canadian Apartment | Part of the REMI Network |

Doing electrical work on your property?

Do it right in three easy steps: 1. File a Notification of Work (permit) with the Electrical Safety Authority 2. Keep a copy of the Certificate from ESA for your records 3. Feel confident that the work was done correctly and legally

If you’re hiring someone to do the work, Ontario law states that it must be a Licensed Electrical Contractor.

Find one at ESAsafe.com

NEWSWORTHY >>

Rodent activity on the rise rodents and reports of unusual or aggressive rodent behaviour,” said the CDC, advising home and business owners to cover garbage cans, put bird and pet food out of reach and seal small holes where rodents could gain entry into buildings.

According to Toronto-based Abell Pest Control, calls across Canada for rat extermination increased by 52 per cent last month compared to March 2019, with calls across the GTA up by 36 per cent.

U

rban centres across Canada and the U.S. are experiencing a rise in “aggressive” rodent activity due to COVID-19 restrictions shuttering restaurants and cafes. According to the U.S. Center for Disease Control and Prevention (CDC), rats are becoming more aggressive in some cities south of the border as they frantically search out new food supplies. To contend with these outbreaks, pest control workers in many jurisdictions are classified as essential.

“Environmental health and rodent control programs may see an increase in service requests related to

Signs of rodent activity: Known to transmit disease and cause expensive structural damage to buildings, Orkin Canada advises multi-res property managers to consult with an expert if they suspect a rat infestation.

Signs can include: unsightly holes in lawns and in building foundations; torn up insulation, paper, and cloth found around the property; and complaints of gnawing sounds coming from behind the walls.

“Check wiring for chew marks and look out for small, pellet-like droppings,” the Orkin website suggests.

To prevent an infestation, apartment tenants should be reminded to keep food preparation areas clean, and to properly dispose of garbage in exterior bins and trash cans. Dumpsters should be well secured and maintained with more frequency as the pandemic continues.

In addition, Orkin reminds facility managers to trim back vegetation from building exteriors; seal any cracks or holes with caulk or foam; remove any standing water throughout the property, and keep doors and windows closed.

Vancouver amends bylaw to allow 6-storey rental housing

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f approved later this summer, amendments to the zoning and development bylaw for C-2 commercial districts in Vancouver will allow developers and property owners to build taller, denser developments in an effort to increase the city’s inadequate rental housing supply.

Currently, the zoning only allows for fourstorey buildings with commercial space on street level and residential space—typically condominiums—on the upper floors.

Through the additional two storeys, zoned as “rental-only housing”, developers will have the incentive to build something other than

30 | Canadian Apartment | Part of the REMI Network |

condominiums, which traditionally have offered a quicker return on investment.

Other requirements put forth include that 35 percent of the new units must be sized for larger families, and that the buildings fulfill enhanced green building requirements, such as the Passive House design standard.

The amended C-2 zoning districts for residential rental tenure development will apply to areas outside of recently approved community plan areas, such as the Cambie Corridor, Marpole, and Grandview-Woodland, as well as outside areas currently undergoing

planning processes, specifically the Central Broadway Corridor.

Previously, such projects would have to pursue a rezoning application, but with the changes developers can go straight to the development permit process, potentially shaving off between one and two years from the application and review timeline.

Although the City of Vancouver does not anticipate a significant increase in new rental housing built within C-2 zoning, there will likely be a shift from some of the anticipated condominium developments to rental.

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PERSPECTIVE >>

Carrying the Losses of COVID-19 Examining the real costs of the pandemic

by Chris Seepe

The financial situation of every rental property is as different as a fingerprint, given that each operator applies their own level of experience, understanding, and personal values to the way they manage their building or portfolio.

With that in mind, the numbers below can only roughly capture the approximate breakdown of the costs associated with owning and operating a rental property.

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evertheless, the overarching conclusion — regardless of the numbers — is that the net profit from a rental property is much lower than tenants, the media and the government seem to think.

It’s these same entities who collectively believe residential landlords are playing the system and can afford to carry all the losses of COVID-19.

Here’s a rough breakdown of where each investment dollar goes in a six- to 20-unit multi-residential investment property using an average of two six-plexes, one nine-plex, one 11-plex, and two 12-plexes in Oshawa, arguably levying the third highest property tax out of 444 municipalities in Ontario.

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$1.00 rental income (no HST) 18.8ȼ property tax 02.2ȼ building insurance 03.5ȼ electricity (common area only) 03.4ȼ gas heating (included in rent) 03.4ȼ water/sewer (included in rent) 08.8ȼ repairs & maintenance (including property mgmt. & janitorial) 03.1ȼ Property management, janitorial, placement fees 01.4ȼ Professional fees 44.6ȼ Operating Expenses 39.8ȼ Principal & Interest (5-yr closed fixed, 25-year am, 75% LTV, 3.0% interest) 84.4ȼ Total Costs

15.6ȼ Net Profit before corporate taxes (cash flow) 07.8ȼ Corporate tax (50% “passive” income) 07.8ȼ Net profit after tax BEFORE capital costs (new roof, furnace, boiler, windows, etc.)

Capital costs So, on $100,000 of gross income from an average 9-plex rental property, the owner takes home about $7,800 — before paying for infrequent capital costs. Factor in those — for example, replacing the windows every 30 years at $50,000, calling it $1,667 per year; a boiler at year 20 for $20,000, calling it $1,000 per year; a new roof at 15 years for

PERSPECTIVE >> $10,000, calling it $667 per year — and we are now looking at an approximate total of $3,334 per year in capital costs paid from the $7,800 annual take-home pay.

Further analysis Although the above is overly simplistic and subject to many sophisticated cost-reduction management techniques and best practices to streamline expenses and maximize return, it provides a baseline value.

A new boiler may reduce gas consumption by 30% resulting in a notable equity increase — e.g. a $2,000 gas savings might add $40,000 (at a 5% cap rate).

Depreciation (capital cost allowance) will reduce the taxable income too, but the money must all be paid back when the property is sold.

A higher amortization period for financing will improve cash flow, but you pay more interest over the term. You could pay off your mortgage quickly — which would substantially improve your cash flow — but then all that equity is “dead” money, which is not working to help you create asset wealth.

As a mid-sized landlord myself, I have been receiving insurance quotes for multiple buildings these past three months and every company has been quoting 11% to 15% higher premiums than the previous year despite that I have not made any claims for more than five years. Ontario’s electricity rates went up 55% last November 2019, but was hidden by a 31.7% short-term rebate. My local water/sewer costs went up about 40% in the past five years but rental income was allowed to increase only about 17% over the same period.

I couldn’t find a quotable statistic on the number of investment properties that are financed but I remember hearing that perhaps 85% of rental properties have some amount of a mortgage.

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How much money is left over for a landlord to meet all their obligations amidst a pandemic?

If a “modest” 10% of tenants don’t pay their rent (despite relief measures and government support) and landlords are restricted from increasing rent to make up for their losses, many will not survive this pandemic. COVID-19 may be the catalyst, but it wouldn’t be the culprit of a collapsing rental property industry. The attraction of leveraging real estate to create asset wealth is a powerful lure but the best advice may be to shed these “bonds” and reduce dependency on lenders.

Many of our risks were artificially and unnecessarily created by ill-conceived, short-term legislation enforced by a fundamentally flawed Landlord and Tenant Board. In the rental-housing industry, ignorance of the law may turn out to be the single greatest “excuse” for financial ruin.

Chris Seepe is a published writer and author of two books on “landlording,” course instructor, president of the Landlords Association of Durham, and a commercial real estate broker of record at Aztech Realty in Toronto, specializing in income-generating and multi-residential investment properties. (416) 525-1558 Email cseepe@aztechrealty.com; website: www.drlandlord.ca

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CONTACT Michael Gnat Phone: 416-635-4835 Email: mgnat@midnorthern.com | www.REMInetwork.com | June 2020 | 33

INSURANCE>>

Where Do We Go From Here?

The virus litigation sport is just beginning...

by Andy Schwartze Insurance brokers who finally gave up being sales people and transformed themselves into well-grounded risk managers, are constant observers of how the industry works and what factors drive it in different directions. This is important because insurance is a variable cost, determined annually — and not one that is easily predicted.

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lients need to understand the driving forces that impact insurance costs. If there is one simple statement that can be made about the entire financial services industry it’s that when the economy goes in one direction, financial services go the opposite way. Banks and insurance companies are in the business of protecting their assets against the onslaught of nasty economics. They are not in business to cure society’s ills and take great care to shield themselves from unexpected raids on their balance sheets. This is nothing surprising; the days of saying “I’ll take my business elsewhere” have become somewhat obsolete in 2020.

The viral troubles that have beset the world since early spring do not bode well for insurers. As financial pressures close in on struggling businesses their owners and managers fight to find ways to survive and

34 | Canadian Apartment | Part of the REMI Network |

get through the rough times. One of the possible ways to generate badly needed funds is to re-visit insurance contracts, in an effort to see if there are claim possibilities that, in good times, might have been ignored or overlooked. Indeed that rather scary reality, for insurers, is now starting to ramp up. It is still early in the game, but if you watch carefully you will see significant momentum beginning to build as the opponents line up and prepare for the inevitable battle. Here are some indicators that point to growing troubles for the property/ casualty insurers: By the end of March, Munich Re, one of the biggest in the world, had already reported 800 million Euros in COVID-related losses.

In Canada, Intact, Travelers and Aviva have already announced unexpectedly higher claims, not only related to the virus but also to

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“Watch for an onslaught against directors and officers of businesses, alleging mismanagement of their facilities resulting in viral spread.” higher frequency as people took advantage of coverage, fraudulently or otherwise, that under normal circumstances they would not have.

Lloyds of London, one of the biggest insurance pools in the world, has conservatively estimated over US$100 billion will have to be paid on COVID-related claims. Event cancelation insurance will cut a large swath through the industry. But the real trouble is yet to come…

One of the earliest class action suits started in Austria many weeks ago, when a group of 2,500 tourists banded together against the Ishgal ski resort. In France, a restaurant won a lower court decision against the giant insurer, Axa, in which it was ordered that the insurer pay COVID losses out of the business interruption insurance policy. In the U.S. a number of states are considering legislation forcing insurers to pay those business customers who have been carrying business interruption insurance (the state of Kentucky dropped that idea after it was decided that the impact of such an order would devastate the insurance industry). Yet, there has been some “tort reform” activity intended to slow the attack on corporate America on the basis of

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COVID-related health issues. What we are seeing, in that space, is the qualifier that the business cannot be sued if it has complied with recommended safety procedures. Obviously, the litigation door remains wide open as allegations of non compliance will be the basis for every suit imaginable.

Many readers will be surprised to learn that “third party litigation funding” is not just active in the U.S., where it is a serious business.

A major player in that space is actually based in Toronto. Investing in lawsuits takes the financial pressure off the plaintiffs and, in return, the investor(s) participate in the hoped for settlement.

The virus-related litigation sport is just beginning. National television advertisements by law firms recruiting angry plaintiffs who have lost loved ones in retirement homes, have recently begun showing on our screens. Watch for an onslaught against directors and officers of businesses, alleging mismanagement of their facilities resulting in viral spread. The retirement and long-term care community is on for an enormous legal attack. Liability insurers will be hauled in to court by their clients if they fail to defend as expected. Property policies will be tested. New commercial agreements will either include pandemic waivers or the requirement for pandemic coverage (which certainly now will not be cheap).

For insurance buyers, at the higher dollar level of commercial property and liability insurance contracts, the key forward looking concern embodies two exposures. Firstly, for the insurance market this is a “reinsurance” challenge well underway. The entire free world is going to pay more for reinsurance, which will translate into higher insurance bills. The legal defence cost claims payments (that are covered by typical liability policies) will skyrocket. Secondly, forwardlooking challenges automatically cause insurance companies to “circle the wagons” in self defence. Capacity (coverage levels offered) usually drops; willingness to accept risk lowers and rates rise.

Finally, for HR professionals, life is going to become even more challenging. Employees who are called back to work may resist doing so because they feel unsafe. Companies that embrace more of the growing “work remotely” philosophy will struggle with measuring productivity, disciplining inadequacies and even laying off, or firing, recalcitrant behaviour. “Building the dismissal file” will take on a whole new dimension.

These are tricky times for corporate managers and their insurers.

Just recently I had an inquiry from a business owner who asked for a proposal for his business. When I asked a number of important questions, he responded that he just wanted insurance and that I was wasting his time and probably not “a good fit”. I wished him well. He’ll soon learn.

Andy Schwartze, BSc., MBA, CIP, is an insurance broker specializing in property management and real estate. He can be reached at andy@takecover.ca.

36 | Canadian Apartment | Part of the REMI Network |

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The Challenges of Reopening Legal advice for landlords facing new pressures posed by COVID-19

by Erin Ruddy On May 14th, the Province of Ontario announced it would be rolling out a 3-phased approach to reopening the economy, on the heels of other provinces slowly and carefully lifting their COVID-19 restrictions. Now, as June becomes July, all businesses — including those in the slower to open GTA — are preparing to resume operations, with virus mitigation being the top priority for all.

38 | Canadian Apartment | Part of the REMI Network |

LEGAL >>

To steer reopening businesses in the right direction, each phase of Ontario’s plan is accompanied with multiple documents related to protecting the health and safety of workers. But for multi-res operations, it’s not just workers who are potentially facing exposure — it’s residents and visitors, too.

“The clear risk of reopening multi-res operations is that regardless of whether the recommended regulatory and suggested protocols are followed, if a worker, resident or visitor to the building contracts COVID-19, the landlord will likely be the target of a lawsuit alleging that he or she was at fault and therefore liable for damages,” warns Joe Hoffer, Cohen Highley LPP. “That being said, there are steps that can be taken to avoid this outcome.”

For starters, Hoffer can’t stress enough the importance of following the recommended protocols for each component of the 3-phased reopening.

“The province has created over 90 documents setting out detailed health and safety protocols to be followed in relation to the permitted activities,” he says. “The onus will be on landlords to research those documents; accurately determine which protocols apply to which activity; ensure the protocols are communicated to workers and occupants at buildings; and, ensure that there is compliance by workers and residents with those protocols…leaving a paper trail at each step to lay the groundwork for a defence in future potential legal action.”

Naturally, it’s the smaller landlords with limited resources and those unpracticed at risk mitigation who will have a harder time adjusting to the “new normal.” Hoffer advises anyone in this situation to step up their efforts immediately.

“This can be done by designating staff members to develop and implement COVID-19 compliant reopening policies — including staff training — which are key components of a risk mitigation process. In turn, everything should be rigorously documented,” he says.

Managing staff, worker & resident compliance Another challenge for multi-residential building operators will stem from gaining compliance from workers, staff, residents and visitors in terms of their commitment to following health and safety protocols. As part of Ontario’s Phase 1, for instance, workers were permitted to re-engage in multi-residential construction, maintenance and repair, painting, cleaning and pool maintenance.

“Landlords have a legal right to exercise a level of control over employees and contractors,” Hoffer says. “So that challenge should be manageable. The greater challenge will come with managing compliance by residents and occupants.

Landlords have far less control over tenants than they do over workers.”

To address this, Hoffer advises landlords who use the standard industry lease (or other professionally drawn leases) to introduce new rules that set out the protocols tenants and their households must follow during the reopening process. “Such rules would direct compliance with social distancing relative to each other and employees; contractors; delivery personnel; and visitors, among other things,” he says, pointing out that many such rules are effectively in place now, although not necessarily formalized as a term of the tenancy agreement under the “Rules and Regulations” section.

Where a more formal approach will likely be required pertains to usage of amenity spaces.

As Ontario moves to allow more common areas to reopen — i.e. pools, patios, fitness centres and party rooms — tenants may not only expect, but demand, the right to regain access, exposing landlords to rent reduction applications if they fail to make them available.

“In our view,” says Hoffer, “landlords will be faced with a grim challenge. The liability risk of reopening arises when there is a failure by tenants to comply with protocols and an inability of the landlord to constantly monitor and take action against those

who breach them. At this time, a landlord’s primary responsibility to enforce strict safety protocols arises upon receipt of very specific complaints of incidents of breach where the detail is sufficient to generate an N5. With reopening, there should not be a greater onus on landlords to ensure tenants are following the rules, but there may be an expectation that the landlord do so.”

The key, he says, is to create clear rules in the tenancy agreements requiring compliance by residents, their households and guests at each stage of any reopening. Some internal physical changes and time of use/occupancy restrictions will likely be necessary, as will enhancements to cleaning protocols.

“Include a requirement that tenants using the reopened facilities must sign a waiver agreeing to the posted protocols and that they assume the risks inherent in the use of the facility,” he says. “This will release the landlord from liability in the event that a person becomes ill and alleges the illness resulted from landlord negligence regarding safety protocols.”

Administrative burdens There is no doubt that the new normal multi-res operations are about to encounter will come with substantial administrative burdens. Similar to the government, Hoffer says landlords must turn their minds to the implementation of measures that are designed to protect the health and safety of all persons at their buildings.

“The establishment of clear rules for health and safety and the implementation of protocols together with the use of waivers provide mechanisms for mitigating risk,” he says. “If you require legal assistance in developing an appropriate set of COVID-19 policies, our legal team can help; otherwise, we wish you all the best with risk management and surviving the “new normal.”

For more landlord-tenant legal advice, visit www.cohenhighley.com | www.REMInetwork.com | June 2020 | 39

Smart Ideas

MODERNIZING YOUR APARTMENT COMMUNITY In a post-COVID-19 world, tenant expectations aren’t what they used to be

As multi-residential operations open in a post-pandemic environment, building owners and managers are looking for ways to mitigate the spread of infection and reassure occupants that all the right steps are being taken to keep them safe. Tour24, a new mobile app that streamlines the rental touring process by creating self-guided apartment tours, offers the following top five tips for property managers entering the “new normal”: 1. Go virtual: In addition to offering self-guided tours, take the time to enhance the property’s website, highlighting the personality and features of your community through additional interactive content and videos. For smaller operators, there are many talented freelancers — perhaps even a resident in your apartment building — who would happily take on the project at this time.

4. Adjust amenities: Set realistic expectations of what it will take to safely reopen your amenities. Change the gym configuration and increase sanitation procedures and supplies. When you reopen outside areas like the pool and the pool deck, consider changing occupancy limits and reducing the outdoor furniture.

2. Support the greater community: Publicize local events and initiatives, like curbside pick-up from neighbourhood restaurants or outdoor green markets that are back up and running and could use the boost. Share information about how to donate to a local food drive, enlist tutoring services or hire a resident accountant.

5. Improve home delivery process: From groceries and retail, to the delivery of restaurant meals, people of all ages are turning to online ordering. Multifamily residents are likely to continue to use home delivery services even when businesses have fully reopened. It is imperative that property managers have an efficient strategy that minimizes the impact on building operations while responding to resident needs — including automated locker solutions and/or package rooms, which reduce contact and keep deliveries safe and secure.

3. Make common areas touchless: As residents begin to move more freely around the property, find ways to minimize their contact with surfaces and each other. Create safe-distancing pathways around the reception desk and manager’s office. Spread out or remove the furniture from the lobby. Explore technologies that could one day make getting around the building hands-free.

40 | Canadian Apartment | Part of the REMI Network |

For more information on Tour24, visit: www.tour24now.com

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