Canadian Apartment Magazine

CANADA’S NATIONAL PUBLICATION FOR APARTMENT OWNERS AND MANAGERS

VOLUME 13 / NUMBER 5 / NOVEMBER 2016

www.REMInetwork.com

ALL DECKED OUT Hollyburn Properties shares innovative ways to boost building performance

Technology Issue PA R T O F T H E Digital Control Systems

Virtual Reality Tenant Portals Motion Sensors

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Consult with a CMLS Financial Origination Expert today and see how our competitive rates and range of solutions can be put to work for your portfolio of rental properties.

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Our Business is to Make Yours Shine!

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Editor’s Note

Trading space for location

/cammediaedge /cdnapartmentmag /mediaedgecam

When it comes to apartment buildings, the more things change, the more they stay the same. Even though technology has allowed for some great strides in enhancing creature comforts, energy efficiencies, communication techniques and building materials, at the end of the day, tenants still value location the most.

Whether it’s the millennials seeking a convenient urban lifestyle, or empty nesters looking to downsize and re-engage with a thriving community, all renters essentially want the same things: a high-service, high-amenity living space with reliable WiFi and easy access to food, fitness and entertainment.

Suite size is not nearly as important as it used to be, so long as units are clean, centrally located and equipped with the latest technology and conveniences. People prefer to socialize in building common areas, or in the community at large, which is why bike storage is trumping floor space on the must-have suite feature list. Tenant portals, motion sensors and ‘green’ building features are important rental offerings today, and you can read all about the latest and greatest in the pages of this issue.

In our cover story, we find out what building and mechanical systems Vancouver-based Hollyburn Properties prioritizes, whether it’s in the older properties it acquires, or the new purpose-built towers it erects. Read up on the company’s latest advances and ongoing commitment to innovation on page 22.

Finally, as our last issue of 2016, we’d like to thank you for your continued readership and your valued contributions to Canada’s thriving apartment industry. Here’s to an amazing 2017!

Sincerely,

Editor

Erin Ruddy

Publisher

Senior Designer

Mitchell Saltzman

Designer

Jennifer Carter

Production Manager

Rachel Selbie

Digital & Sales Coordinator

Paula Miyake

Contributing Writers

aula Gasparro P David Janowski Brian Turpin Jasmin Bollman Barbara Carss Andy Schwartze

National Sales

Sean Foley, Stephanie Philbin

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

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Erin Ruddy @CdnAptEditor

Group Publisher Melissa Valentini Copyright 2016 Canada Post Canadian Publications Mail Sales Product Agreement No. 40063056 ISSN 1712-140X Circulation ext. 246 Subscription Rates: Canada: 1 year, $50*, 2 years, $90*, US $75 International $100, Single Copy Sales: Canada: $12* * Plus applicable taxes

Quoteworthy

Requests for permission to reprint any portion of this magazine should be sent to Melissa Valentini

“Real estate is an old-fashioned business, but young apartment residents are looking to live in buildings on the cutting edge of technology.”

- Ryan Croft, TransitScreen

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.

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.

– page 17 4 | Canadian Apartment | Part of the REMI Network |

Taking the Gamble out of your next project!

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CONTENTS COVER STORY

FEATURES

22 Industry Influencer

16 Property Management in the Age

Embracing Energy Saving Innovation Hollyburn Properties’ Paul Sander and George Warren discuss leveraging technology in the multi-residential space

By Erin Ruddy

of Tech

By David Janowski

28 ASHRAE 90.1 Adds Multi-res

Lighting Proviso

By Barbara Carss

COLUMNS 10 Transactions GTA Market Trends

By Erin Ruddy 12 CMHC Exploring “What if” Scenarios

By Paula Gasparro 20 Newsworthy New Study Looks at Future Trends and Opportunities 32 Management Integrating IT into Everything

By Brian Turpin 36

39

Marketing Growing your Online Portfolio with a .CA

By Jasmin Bollman Insurance Technology for Insurers? Don’t Expect Much!

By Andy Schwartze

DEPARTMENTS 4

Editor’s Note

30 Ask the Expert 42 Smart Ideas

UPCOMING EVENTS Real Estate Forum

MAC Awards Gala

PM Expo

November 30, 2016 to December 1, 2016 Metro Toronto Convention Centre www.realestateforums.com

December 1, 2016 from 5 to 9 p.m.

Metro Toronto Convention Centre www.frpo.org/events

November 30 to December 2, 2016 Metro Toronto Convention Centre www.pmexpo.com

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Coverage that is setting the standard in the Real Estate Management Industry.

Find daily news and online exclusives on our website

November 2016

Ontario announces freeze on apartment property taxes

Regs likely to have modest impact on condo purchases

A new proposal announced mid-November by Ontario Minister of Finance, Charles Sousa, and Minister of Housing, Chris Ballard, promises to take action to address housing affordability across the province.

The province of Ontario is planning to license and regulate home inspectors, who would need to be properly qualified and meet minimum standards for home inspection reports, among other things. But what, if anything, would this mean for condominium purchases?

Living walls cultivate air quality and wellbeing Living walls are becoming increasingly popular in retail, institutional, office and residential interior spaces, and for good reason. Living walls expose employees, tenants, patients and residents to nature on a daily basis, and this can result in accelerated healing rates (in hospitals), greater tenant retention rates and lower employee absenteeism.

All the Buzz

From the Green Bin

Expert Advice

Social Media

Morguard Corporation recognized by Hilton

Canada-wide carbon polluting fees coming

Getting the most from your swimming pool

Connect with us on

Provinces and territories will have until 2018 to put a price on carbon or accept a national model.

Martyn Knowles wades into pool maintenance.

The company was honoured with an award for Best Conversion for its proposed new Ottawa project.

Powered by

MORE ATTRACTIVE FOR RESIDENTS. MORE RELIABLE FOR YOU. Upgrading your laundry equipment with all new Speed Queen® machines transforms your apartment building’s community laundry room from a simple convenience into an attractive amenity. Residents will enjoy user-friendly Quantum® Controls, which offer many convenient cycle and payment options. They’ll love innovative features like WashAlert™ with Service Alert, which allows them to access cycle status and machine availability online and receive email or text notifications when their wash or dry is complete. And while they’re enjoying the convenience of a Speed Queen laundry room, you can bank on minimal operating costs, reduced downtime through features like automatic service notification, and the support of a network of knowledgeable laundry service providers. Create an amenity for residents and reduce utility costs — visit speedqueen.com/SaveMoney.

Transactions

GTA Market Trends Just $594 million in multifamily properties have sold to date in 2016 vs. $809 a year ago According to the latest market report from JLL’s Multi-Residential Advisory Group, 2016 apartment transactions in the GTA decreased by 36%, with sales totalling $594 despite only having 27% fewer suites than last year (4,605 vs. 3,764). In 2015, the first three quarters saw $809 million in total apartment sales.

The average price per suite was down $14,000 from one year ago, dropping from $176,000 to $162,000 for the same period. Interestingly, the 2016 average price per suite was $2,000 more than the 2015 overall average, due to a number of high quality buildings that sold within the first nine months of 2015.

“Despite a tremendous reduction in the overall suite volume traded, the sustained level of dollar volume can be attributed to the cap rate compression that has occurred over the past five years,” said Michael Betsalel, Senior Vice President, JLL—noting that cap rates edged down to finish the first three quarters at 4.43%, 16 bps lower than in 2015.

Prominent buyers Nine buyers accounted for almost 65% of the year-to-date transaction volume. These transactions traded at an average price per suite of $168,000, which is $6,000 more than the overall average.

The five leading buyers acquired $258 million of multifamily properties, almost 45% of the total dollar volume that transacted.

Starlight Investments acquired nine properties comprised of 562 suites for a combined $91 million Q Residential was the second most active purchaser with 321 units for $49 million O’Shanter Development Corp. picked up two properties for $42 million PN Properties acquired two properties for $40 million Hollyburn Properties purchased two properties for $36 million

Notable GTA transactions: Q1 – Q3

625 Roselawn Ave, Toronto, comprised of 91 suites sold for

$27,050,000

60 Gloucester St, Toronto, comprised of 80 suites, sold for

$23,000,000

10 | Canadian Apartment | Part of the REMI Network |

169 St. George St, Toronto, comprised of 52 suites, sold for

$18,000,000

225-227 Cosburn Ave, East York, comprised of 93 suites, sold for

$16,040,000

818 Broadview Ave, Toronto, comprised of 31 suites, sold for

$5,100,000

Transactions

In other apartment news…

Mixed-use development coming to Québec Groupe Dallaire has unveiled plans for Le Phare de Québec, a mixed-use development that will be built on Boulevard Laurier and focused around a dynamic public square.

“We have taken the concept a step further to ensure the best project possible,” said Michel Dallaire, chairman of the board and chief executive officer of Groupe Dallaire. “Our teams have worked with internationally recognized architects, and together they have refined the product.”

With a private investment of $650 million, the more than two million square feet of mixeduse space will feature four towers, including residential and leased units, a 150-room hotel and commercial and office space. A main tower will reach 250 metres high. Plans call for a restaurant on the top floor and a public observation deck on the top two floors, presenting Quebec City then and now and offering a spectacular 360-degree panoramic view.

RioCan and Boardwalk team up on new Calgary tower RioCan is partnering with Boardwalk to develop a mixeduse tower at RioCan’s Brentwood Village Shopping Centre in Calgary. The joint venture will consist of an at-grade retail podium of about 10,000 square feet and an 11-storey residential tower, with 165 apartment units totaling about 120,000 square feet. This will be RioCan’s first rental residential development in the Calgary market.

The development will include two levels of underground parking and will provide premium rental housing minutes from downtown Calgary along the Northwest Light Rail Transit line, while offering close proximity to the University of Calgary, McMahon Stadium and Foothills Hospital.

“Boardwalk brings a wealth of management expertise to the rental residential segment, particularly within the Alberta market,” said Edward Sonshine, chief executive officer of RioCan “This rental residential tower will be an excellent addition to this mixed use shopping centre, and a great example of just one of the many urban intensification projects that RioCan has on hand within its portfolio of high quality urban locations in Canada’s six major markets.”

The total construction cost is expected to be between $60 million to $70 million, or $30 million to $35 million per partner. RioCan and Boardwalk are currently working together to finalize the submission of plans for a development permit. Closing and construction is expected to occur around mid-2017. | www.REMInetwork.com | November 2016 | 11

CMHC

Exploring “What if” Scenarios CMHC Stress Testing Confirms Ability to Withstand Extreme Situations

By Paula Gasparro

Stress testing is a best practice risk management tool. While they are not predictions or forecasts, they involve searching out extreme “what if” scenarios that have a very remote chance of happening, and planning for them.

Diligent stress testing is an essential part of CMHC’s risk management program and allows CMHC to evaluate its capital levels against multiple scenarios. Effectively, they confirm if CMHC’s capital holdings are sufficient for even the most extreme scenarios.

In support of greater transparency with respect to risk management practices, CMHC released the results of its 2016 stress testing exercise.

“Stress testing involves searching out extreme scenarios that have a very remote

12 | Canadian Apartment | Part of the REMI Network |

chance of happening and planning for them,” said Romy Bowers, CMHC’s Chief Risk Officer.

“Rigorous stress testing is an essential part of our risk management program and allows CMHC to evaluate its capital levels against these scenarios.”

CMHC Corporate-wide stress testing scenarios are developed early in the year, are vetted internally, and are approved by CMHC’s Board of Directors.

In 2016, CMHC tested its mortgage loan insurance and securitization businesses against several extreme scenarios, including the following stress events: • Global Deflation – Severe house price declines and high unemployment over five years.

• Oil Price Shock – Price of oil falls to US$20 per barrel in 2017 and subsequently ranges between US$2030 for further four years.

• Earthquake – Multiple scenarios of a high-magnitude earthquake that disrupts critical infrastructure and services in a major urban centre, including broader financial impacts as a result of its effects on homeowners and businesses were run. Reporting reflects the most severe outcome of the simulations.

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CMHC Reverse Stress Test - A sudden increase in interest rates lead to higher borrowing costs for both Canadian consumers and financial institutions, causing a severe drop in Canadian house prices and ultimately the failure of a Canadian financial institution.

• US Style Housing Correction A 5 percentage point increase in

the unemployment rate with 30% decline in house prices.

a

The results of this year’s scenarios on CMHC’s regulatory capital requirements confirm that CMHC’s capital holdings are sufficient for even the most extreme scenarios.

It would take a very severe housing downturn and a sustained high unemployment rate to start eroding CMHC’s capital in a significant manner or impact

ARE YOU CONTEMPLATING THE SALE OF YOUR APARTMENT PROPERTY? Consider the following: • Who will represent your best interest?

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* Sales Representative This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved.

CMHC’s capacity to underwrite new mortgage loan insurance business.

CMHC follows the guidance set by the Office of the Superintendent of Financial Institutions (OSFI) with respect to stress testing. CMHC also develops its own stress testing cases for business planning purposes.

The Minimum Capital Test (MCT) is the ratio of capital available to capital required. Below 100% MCT, an insurance company may no longer be allowed to write new business. A level below 0% MCT indicates insolvency.

On September 23, OSFI released for comment a draft advisory updating the capital requirements for residential mortgage insurance risk. The table above reports CMHC’s lowest Insurance capital (MCT) under both the current capital framework and based on CMHC’s understanding of the new draft advisory.

The new MCT, which will be implemented on January 1, 2017, is more risk-based and incorporates additional risk attributes such as credit score, remaining amortization and outstanding loan balance. It is important to note that further changes to the new framework may be made as it continues to be finalized by OSFI. The underlying variables within each of the stress testing scenarios were developed based on a combination of hypothetical and historical economic analysis. The Office of the Chief Risk Officer works with different business areas across the Corporation, including an internal model validation team, to develop new or revised scenarios for CMHC’s annual stress testing exercise.

Business resumption exercises involving participation across a number of departments are routinely carried out as part of CMHC’s stress testing program with results reported internally to senior management and the Board. Outcomes from the exercise are valuable towards development of effective business continuity plans ensuring CMHC’s continued ability to deliver on its mandate.

For 2017 stress testing, the scenario themes being developed this year are expected to be similar to the 2016 scenarios, with only minor changes to the economic assumptions and variables used in the models reflecting the current global economic environment.

To take advantage of CMHC’s Mortgage Loan Insurance, contact Paula Gasparro, Manager, Business Development, Multi-Unit Mortgage Insurance at 416-250-2731 or via e-mail at pgasparr@cmhc.ca.

14 | Canadian Apartment | Part of the REMI Network | vertical-magazine-ad-design - de changes v2.indd 1 Untitled-4 1

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Feature

Property Management in the Age of Tech Does Your Marketing Measure Up?

By David Janowski

16 | Canadian Apartment | Part of the REMI Network |

Feature

Traditional marketing for property managers dictates that all you have to do is place an ad in a newspaper or local magazine to get noticed. While that may still be effective for a smaller segment of the population, increasingly, building owners and operators have their eye on the prize. That is, being exceptionally tech-savvy as a means to capture the attention of the emerging rental demographic—namely, Millennials.

Marketing Tech Blog points out that Millennials have more technology at their fingertips than any generation in history. And they know how to use it. Not to mention, 85 percent of Millennials have a smartphone, says a study conducted by the University of Southern California. What they use those smartphones for is quite eye opening: 82 percent of them will interact with a brand online. That begs the question: what is your brand doing online?

Train, or how long they’ll be sitting on the 401 en route to the office.

“Real estate is an old-fashioned business, but young apartment residents are looking to live in buildings on the cutting edge of technology,” says Ryan Croft, Chief Operating Officer of TransitScreen. “Owners and property managers will either stay on top of the latest building technology or risk losing tenants to building owners that embrace technology.”

SMS appointment notifications and reminders!”

Henry adds that the feedback from leasing agents has been particularly positive as the program offers prequalifying, automatic notifications and post-appointment follow-up surveys. Marketing managers favour the real-time dashboard that shows leads, appointments, conversions, cost per lead and even a scorecard on how well calls are being handled and converted.

Give them tools Now that the lease is signed, your marketing work is done. Right? Wrong.

In fact, the tech-savvy renter expects you to provide them with conveniences and amenities that will make them want to stay in your property as a customer – yes, a customer – for years to come.

Enter TransitScreen, a real-time display of transit options right in your building’s lobby. Encouraging alternative transportation use (Bike Share, anyone?), this tool has already been adopted by some of Canada’s largest landlords as well as Toronto’s City Hall. Thanks to TransitScreen’s building displays, renters can start their day knowing exactly how long they’ll need to wait for that Uber, bus or GO

Upgrade your call tracking How do you manage your leads? You probably find that you simply don’t have time to collect leads and follow-up on them in a timely manner. This translates to missed opportunities that leave you with empty suites. That’s why National Efficiency Systems (NES) created a powerful leasing and marketing tool called LeadManaging.com. This system includes online booking, lead tracking, an automated voice-analysis tool and automated after-hours service.

“Prospective tenants love this tool,” says Darren Henry, President, LeadManaging.com. “They can book appointments online without having to wait on leasing staff. Plus, they get branded, mobile-friendly email and

Resident portals What does your online presence say about you? You probably have a website, but doesn’t everyone? The biggest challenge facing you is to transform what that website actually does. Beyond the all-important first impression for potential renters, it needs to be a useful tool that your current renters can use, too.

The resident portal gives your renters quick and convenient access to pay their rent, track their payment history, and submit maintenance requests. Payquad’s extensive resident portal even allows you to access real-time reporting metrics that will give you an in-depth look at your cash flow in ways you never thought possible. | www.REMInetwork.com | November 2016 | 17

Feature

Resident portals don’t just benefit your renters–they benefit you.

Eliminate the manual process of collecting rent and possibly losing cheques (or having them stolen). Easily keep track of maintenance requests and assign them to the employee best equipped to address them. Give your renters updates on property news

with one simple click. It’s property management with the ease of a click, swipe or tap.

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Virtual reality comes to property management Speaking of state-of-the-art websites, let’s talk about your online apartment listings. Simply posting a text ad with a

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Mortgage financing and lending purposes • Lease-up and repositioning scenarios • Market Rent and Lease Analysis • Mediation/Arbitration • Land rent and ground lease valuations • Lease arbitration and negotiations • Quarterly and annual reporting • Acquisitions & Expropriation negotiations • and more

few photos won’t cut it anymore. Take your marketing to the tech-level with features like 360-degree peeks inside suites, floor plans that seem to jump out of the screen and virtual reality apartment showings.

That’s right: VR apartment showings.

Companies like YouVisit Studios create unique virtual rental showing experiences that are bound to captivate your audience and generate tangible results.

We asked Chaim Rivlin, CEO of RentSeeker.ca, to provide some insight into the value of video marketing techniques, specifically, property videos, 3D floor plans, and virtual tours. “Video marketing is critical nowadays,” says Rivlin. “The brain is able to process video 60,000 times faster than text. When it comes to engagement, video has far greater reach as it can be liked, shared and commented on for years to come.” Add in immersive, engaging 3D floor plans and virtual tours, he adds, and you’ve got yourself the antidote to the renter who doesn’t have the time or patience for reallife showings. “It’s all about creating an emotional connection. Text simply can’t do it the way the screen can.”

If you’re still not convinced, check out the websites of some of your competitors. You might be surprised at what you find. Perhaps they are already employing much of this technology and leaving you in their dust. If you want to stand out, your marketing needs to go tech. While it may seem overwhelming, there’s a treasure trove of companies that can give you the edge you need. All you need to do is pick up your Smartphone and drop them a line.

David Janowski is the CEO of Payquad Solutions, Canada’s simplest online rental payment platform and resident portal. For more info, visit www.payquad.com.

Explore industry trends at

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Newsworthy

New Study Looks at Future Trends and Opportunities in Multi-unit Dwellings The Continental Automated Buildings Association, through its Connected Home Council, has launched a collaborative research study entitled “Connected Multi-Dwelling Units (MDUs) and Internet of Things (IoT)”. The goal of the new research project is to provide a comprehensive examination of all the major aspects of IoT related to MDUs, including: • state of the market • IoT trends • business opportunities • technical barriers and opportunities • future market direction • issues, case studies and industry recommendations “CABA aims to produce and provide actionable research results to its membership and the home and building sector at large,” noted Ronald J. Zimmer, CABA President & CEO. “Consequently, we are extremely excited to launch a new study focused on potential of the Internet of Things in connected, multidwellings.”

The study will undertake 60 in-depth interviews and survey over 1,500 individuals within the MDU ecosystem, including OEMs, service providers, tenants and property owners and managers. The research project will also incorporate an extensive secondary research literature review.

The final report will provide actionable data relevant to all segments of the MDU value chain, including, but not limited to: building owners, technology manufacturers, builders and developers, integrators and installers, service providers, insurance companies, industry associations and utility companies.

According to Tom Semler, Manager, Conservation & Demand Management at Hydro One, “The multi-dwelling and multifamily market has one of the strongest growth rates in North America. The growth of IoT in the connected home sector is going to dramatically change the size and types of products in this market.

Therefore, Hydro One Networks Inc. has joined the steering committee of this important CABA landmark research project to ensure that our future products services can be developed based on consumer needs.”

“A growing preference among consumers for technically advanced broadbanddriven products is fueling the demand for connected home devices significantly,” noted Don Stevens, National R&D Manager at Panasonic Eco Solutions North America. “The growing interest in these devices, along with the rising trend of smart homes generally, will boost the global demand for Internet of Things (IoT) devices in multi-dwelling and multi-tenant units dramatically. This study will assist us make key decisions in this market concerning our product and service offerings.”

CABA has contracted Harbor Research to undertake the research and expects the study to be completed by the first quarter of 2017. Harbor Research, a CABA member, is a strategy and technology research firm that works with leading technology innovators, product OEMs and service providers.

This study is a major initiative of the CABA Research Program, which offers a range of opt-in technical and advisory research services designed to provide industry stakeholders with collaborative research and R&D opportunities.

20 | Canadian Apartment | Part of the REMI Network |

Timbercreek Launches New Real Estate Investment Site Timbercreek Asset Management has launched a new microsite to help financial professionals better identify quality real estate investment opportunities for their clients.

The interactive site offers a dedicated space for advisors and easy access to the information they need to make informed decisions on the burgeoning real estate space. By visiting the site, advisors will have access to: • Insightful whitepapers and manager commentaries about global real estate investing • Timely articles and interviews • Online brochures • Information about Timbercreek’s global real estate investment solutions, including fact sheets, performance metrics and subscription documents • Timbercreek support staff The introduction of the microsite comes at a time when many are re-thinking the traditional asset allocation model and no longer relying on the standard mix of equity and fixed income to build their portfolios and meet their investment goals. Low yields from government bonds coupled with increasing volatility in equity markets has prompted many advisors to look for new vehicles, including alternative investments, to achieve the right mix for their clients. This includes real estate, which can offer a low-volatility buffer for portfolios while providing attractive income streams for a client’s portfolio.

“Investors have significantly increased exposure to real estate assets over the past few years and this trend shows no signs of slowing down,” says George Ganas, SVP Business Development and Client Services at Timbercreek Asset Management. “The launch of this site is just another example of Timbercreek’s ongoing commitment to providing financial professionals with the tools they need to position their clients for success. We are excited to make this available to them in one dedicated and dynamic space.”

Because experience counts.

When it comes to the day to day operations and management of your multi-unit, rental properties, you want to make sure you have the right people for the job. The professionals at MetCap Living have being doing just that for the best part of thirty years. From marketing, leasing, finance and accounting, to every aspect of physical, on-site management, we have your assets covered.

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Industry Influencer

EMBRACING E SAVING INNO Hollyburn Properties’ Paul Sander and George Warren Discuss Leveraging Technology in the Multi-Residential Space

By Erin Ruddy

22 | Canadian Apartment | Part of the REMI Network |

Industry Influencer

ENERGYOVATION Vancouver-based Hollyburn Properties is a company on the leading edge of innovation.

Throughout its forty-year history, the national property manager has been committed to embracing technology and new ideas while also pursuing sustainable, eco-friendly building operations.

| www.REMInetwork.com | November 2016 | 23

From left to right : Monroe Dunbar, George Warren and Paul Sander

From the early adoption of intelligent digital building controls to a continued commitment to using energy-efficient materials and equipment, Hollyburn Properties has one critical eye on the future, and another on delivering a quality tenant experience.

In early November, we spoke to Hollyburn Director, Paul Sander, and Operations Manager, George Warren, about the energy efficiency strategies and long-term solutions their company has embraced. With its first new construction purpose-built rental building recently completed in North Vancouver, the timing for the discussion couldn’t have been better.

“My father started this business over 40 years ago, and I’ve been working alongside him all my life,” said Sander. “Our business model was, and largely still is, to buy older rental buildings in triple A locations and repair and restore them. We just completed our first purpose-built rental apartment, called Bridgewater, so our foray into purpose built rental construction is something new. We put our 40 years of experience into its construction and anticipate doing more of that in the near future.”

Rising 14-storeys and comprised of 130 units, Bridgewater is North Vancouver’s first new rental high-rise in over 35 years.

Neighbouring the Civic Plaza on the corner of 14th and Chesterfield, the modern-looking tower includes a fitness facility, a resident lounge and a contemporary rooftop terrace offering spectacular views of the area’s surrounding natural beauty. Rental suites range from one and two bedrooms, to townhomes and penthouses.

“Our vision is to build new, modern, and vibrant purpose-built rental projects that will provide housing options to the local public,

24 | Canadian Apartment | Part of the REMI Network |

“

alleviate the shortage of rental supply, and revitalize and improve the rental housing stock in Canada,” said Sander.

Finding efficiencies: it all boils down to the DDC system Throughout its 40 year history, Hollyburn has acquired more than a hundred apartment buildings of all shapes and sizes, and of all levels of disrepair. George Warren has been with the company for 28 years and is intimately familiar with the inherited issues that come with acquiring older stock buildings. To get a handle on those major and minor deficiencies,

Our vision is to build new, modern, and vibrant purpose-built rental projects that will provide housing options to the local public, alleviate the shortage of rental supply, and revitalize and improve the rental housing stock in Canada.”

Industry Influencer

Warren says the first step his company takes after an acquisition is to install a DDC system.

DDC—which stands for Direct Digital Controls—is a system that monitors, records and controls all the mechanical and electrical components of the building, while also optimizing its performance. It has the potential to be connected to a network and automated, so controls and settings can be adjusted remotely.

“Basically the DDC system controls all the mechanical and electrical, and even the pneumatic systems of each building,” Warren explained. “First we program it, then we monitor the equipment for any inefficiencies.

Over time, as the original building systems are altered and/or repaired—for example if a pump was replaced, or piping was altered —problems and inefficiencies can result. Through the DDC system, we are able to identify those problems and use the data to resolve these issues as well as improve overall building efficiencies.”

Warren notes that one of the great benefits of a DDC system, beyond the ability to control and monitor, is that it sends an email alert whenever there is a system fault. “The instant notification comes to us first, meaning we are able to respond to problems faster, which leads to quicker repairs, and minimal disruption to the residents,” he says.

Today, all Hollyburn properties are equipped with DDC systems at the onset of acquisition, a process that began in 1992 and has been the standard ever since. “Typically when a property is acquired, there are several immediate objectives—marketing objectives, internal and external finishes, suite turnovers, mechanical system objectives and energy objectives,” said

By the Numbers: Shining a light on Hollyburn’s LED and motion sensor retrofit In September 2016, Hollyburn Properties began a lighting retrofit across the interior common areas of its Vancouver portfolio. As the numbers below reveal, substantial energy savings are being realized.

According to Monroe Dunbar – Assistant Building Systems Manager at Hollyburn – the biggest savings, in fact, is not coming from installation of the LED lights themselves, but from the new motion sensor technology incorporated into the fixture.

“A simple example of controls is the motion sensor,” said Dunbar. “This is when a sensor is used to turn something on when it’s needed and off when it’s not. Previously the lights in our parkades were on 24-7, now they are mostly always dimmed, or completely turned off. It’s amazing the savings you can achieve with the addition of such a simple control. We use motion sensors across the country now in locker rooms, laundry rooms, stairwells and parkades”

Highlights from the retrofit: Annual Energy Savings:

Project Cost:

$93,997.90

$255,016.48

Payback:

Energy Reduction:

2.1 years

61%

Sander. “The energy control objectives start with the DDC system because it’s a proven, valuable tool. Before it, there was no way to troubleshoot and monitor systems remotely.

If there was a problem with say, the heat or hot water, the reporting always came through the residents or the Resident Manager. With digital control technology, we are always the first to know and can respond accordingly.”

Collecting data, setting thresholds Once the DDC system is installed, the building’s equipment is monitored and the ensuing data is collected over the course a year. “Often these buildings are old, with systems at the end of their service life,” said Sander. “Sometimes mechanical issues are identified that aren’t easily fixed using the controls. But for problems requiring a major

Hollyburn’s state-of-the-art DDC systems and boilers are key in improving building efficiency.

| www.REMInetwork.com | November 2016 | 25

Industry Influencer A Glimpse inside Bridegwater: Hollyburn Properties’ new purpose-built rental building in North Vancouver

26 | Canadian Apartment | Part of the REMI Network |

repair, we will use the data to help us plan custom retrofits.”

That said, often the issues are minor enough that they can be corrected using the controls. Efficiencies, for instance, can be identified and corrected through programming changes, ongoing monitoring and alarms. System thresholds can be set with minimum temperatures, accessed and adjusted remotely.

Sander gives the example of the morning rush hour, and hot water deliverance for showers. “The resident base in every building is different. So, imagine a building full of young professionals—there will be a big morning rush hour at 7 a.m. with everyone taking a shower at once. This creates a huge hot water demand, probably the single biggest peak of the day. Meanwhile, in a building full of seniors, everybody gets up at staggered times and uses hot water more sporadically.

We learn a lot from the data of each building just as we learn from the demographics, and that information helps us to customize controls and even determine future retrofits.”

For Warren, the advantages of Hollyburn’s DDC systems are numerous, helping to achieve multiple priorities at once. “The systems have enabled us to reduce utility consumption by an average of 20 percent.

Also, we minimize outside service staff by

resolving problems remotely so that specific repairs can be carried out during regular business hours and outside of resident peak usage times. From a troubleshooting standpoint, we are able to identify the exact component whenever there’s a problem or a malfunction. Often, it’s a simple matter that can be handled by someone at the building.

We avoid inconveniencing the residents by not having outside contractors doing an exhaustive search for a solution in the middle of the night impacting their morning hot water. Of course, for the residents, there are considerable benefits too. “We are able provide a constant heat…we are able to adjust the demand based on usage, and more often than not, we’re able to deal with problems before anyone even knows about them,” Warren said. “This ensures increased comfort and uninterrupted service.”

Aside from that sought-after comfort and service, residents today are environmentally conscious and want to live in buildings that address their concerns; that offer the tools to help them minimize their own carbon footprints. In 2016, Hollyburn proudly reported that 48,000,000 pounds of CO2 were deferred from the atmosphere thanks to the efforts taken and supported by owners, employees and residents alike.

Setting the bar high As an owner and operator of such a large portfolio of multi-residential properties, Hollyburn takes its responsibility toward the environment—and the future—seriously. “We have a unique level of exposure to people, and to mechanical systems,” Sander said. “For every building we buy, there are many others we look at. We have seen lots of boiler rooms and have learned from all of them. This gives us a great perspective. Unfortunately there is rarely a holistic approach taken when it comes to repairs and maintenance. We understand the limitations that are out there and we are aware of the challenges.”

According to Warren, Hollyburn’s success in this area is largely driven by a dedicated, focused staff made up of exceptional people.

“When it comes to achieving our high standard, it has become second nature. We just do what works and whatever it takes to get the job done right. Everybody is highly focused.

Everybody is looking for opportunities to make improvements.”

Taking advantage of the numerous rebate programs offered by utility companies as well as the federal and provincial governments

is something Hollyburn advises. In fact, in 2013 Hollyburn became the first property management company to achieve the CMHC rebates in multifamily apartment buildings.

“For our generation, the environment has always been a big focus. So between my interest in these things, and George’s knowledge of mechanics and technology, finding solutions… finding ways to minimize our footprint while achieving savings is just something we have always been committed to,” said Sander.

Building Intelligence: the way of the future SMART technology, mobile networks, motion sensors in suites, intelligent systems that can respond, learn and understand the tenant base—these are all things Sander and Warren see as the future of the apartment space.

“With smartphones, we can already set and control things remotely, like our heat and our lights. But soon it may be possible to have your home recognize patterns, to anticipate your arrival and have everything adjusted and ready for you when you get home from work,” said Warren. “When I started in this business, we had no internet and no cell phones. I grew up watching two channels on television. When I think of that, when I recall all the changes, then I realize the potential is endless.”

“In some ways, the apartment industry has been miles ahead of the curve compared to what’s going on in homes,” added Sander.

“The fact that we installed our first DDC system in 1992 is telling of that. Only now are people getting apps on their phones that notify them of trouble at home, or to set their thermostats. We’ve been doing that for twenty five years.”

Sander imagines that the big change will come when things are customized by the suite, rather than the building. In other words, when it’s the individual as opposed to the overall resident base that distinguishes controls and settings. “Some of the things we are now seeing in new construction include digital sub-metering— hot water and heat that get invoiced per customer. Things are going to get smarter and be customized to the occupant, which of course, improves efficiency. Because the more you customize, the less you waste.”

Simply put, things have come a long way, and being energy efficient doesn’t have the negative connotations it used to. Hot water and bright lights when you need them and energy savings from turning them off when you don’t,” he said.

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2. What should I know about glass selection?

Glass must handle the structural loads (including possible guard loads) it will be exposed to, as well as building science criteria like the building code U-values and allowing in as much visible light as possible.

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Learn more about RJC’s Building Science practice at rjc.ca. | www.REMInetwork.com | November 2016 | 27

Feature

ASHRAE 90.1 Adds Multi-res Lighting Proviso LED Advances Factor Into 2016 Update of the Energy Performance Standard

By Barbara Carss

Developers of multi-residential buildings can expect more pointed direction on their lighting choices as North American jurisdictions update their building regulations. The newly released 2016 edition of the ASHRAE 90.1 standard for energy efficiency includes first-time requirements for lighting within dwelling units. Previously, the standard’s ascribed lighting power density applied only to common areas such as lobbies, corridors and laundry rooms.

28 | Canadian Apartment | Part of the REMI Network |

Feature

“In 2016, there is an added requirement that no less than 75 percent of lamps in permanent lighting installations in dwelling units have to be of a high efficacy—at least 55 lumen per watt,” reports Eric Richman, senior research engineer at the U.S. Pacific Northwest National Laboratory who serves as chair of the ASHRAE 90.1 lighting subcommittee. “That could be a good compact fluorescent or an LED.” ASHRAE 90.1 is regarded as the de facto guidance document for energy performance in all types of buildings except low-rise residential given that regulators across the continent reference it in their codes and bylaws. Proposed changes to Canada’s National Energy Code for Buildings (NECB), now open for public comment, include lighting criteria harmonized with ASHRAE 90.12016, while the United States Department of Energy conventionally adopts the standard as the minimum compliance requirement that states and municipalities must enforce in their building regulations.

All 90.1 lighting requirements are premised on the light levels that the Illuminating Engineering Society (IES) deems adequate to carry out tasks in various types of space. From there, the standard devisors employ energy modelling to determine how the required light level could be achieved with available technologies. This is then expressed as an

allowable wattage per square foot, known as the lighting power density (LPD).

ASHRAE 90.1-2016 introduces more stringent lighting power densities for dozens of designated types of space, attributed to the inclusion of LED technology in the 2016 modelling.

“The same thing happened going from 2010 to 2013,” Richman notes. “Most of the space type LPDs went down because there were more efficacious products available for the modelling.”

Yet, he stresses that the standard does not mandate LEDs nor prohibit less efficient lighting options. Designers could theoretically specify any legally available product provided the cumulative LPD for the space can be attained.

“The number is technology-neutral,” he says. “It’s going to be impossible to light the space with all incandescents, but you can mix and match. If you do a good job of designing, you might be able to use incandescents for a part of the space.”

Quirkily, and in contrast to most other building types, the multi-res LPD has actually become more generous in the 2016 standard because of changing design practices and IES light level recommendations. “If IES increases a recommendation, which has happened in the past, then our LPD number is likely to go up,” Richman explains.

Ultimately, the efficacy requirement for fixed installations in dwelling units is considered more significant. Even if unit occupants choose less efficient floor and table lamps, the new multi-res lighting proviso addresses energy efficiency in a vast amount of hardwired wall and ceiling lighting that was previously exempted from consideration.

For developers, the resulting capital cost increase should be modest relative to the overall construction budget. LED or compact fluorescent ballasts are comparably priced to other types of lighting even if the bulbs are more costly than halogen or incandescent.

Meanwhile, improved energy efficiency within suites can be marketed to both prospective homebuyers and renters.

The new requirement isn’t necessarily imminent, however, since ASHRAE’s triennial cycle for revising the 90.1 standard tends to be well in front of provincial, state and municipal regulators’ slower pace for updating their building regulations. The majority of such documents will continue to reference the 2013, 2010 or even 2007 versions of 90.1 as the threshold standard for energy performance for awhile yet.

Barbara Carss is editor-in-chief of Canadian Property Management. | www.REMInetwork.com | November 2016 | 29

Ask the Expert

Best Strategies for Saving Energy Tips from FirstService Residential Ontario

By Erin Ruddy

Rising utility costs are a daunting reality all building owners and operators must face.

To determine best practices and strategies for offsetting these increases, we spoke to Suneel Gupta, Director of Energy and Sustainability at FirstService Residential Ontario. His advice? Create an Energy Action Plan and take advantage of some proven opportunities.

“Over the past five years, we’ve seen electricity climb steadily at about five percent,” Gupta says. “Then, with the Ontario Clean Energy Benefit ending at the beginning of January, that brought a ten percent automatic increase to the rates. At the same time there was a warmer than usual summer, so all told, we’re seeing a ten to 20 percent overall increase.”

To help counter that significant hike, here are a few opportunities FirstService Residential recommends: LED lighting retrofits “Energy efficiency is the best investment a building owner can make. LED lighting is the initial “go to” retrofit for most owners and/or property managers because it is simple, and has a high success rate. Though every building is different, an LED retrofit can reduce ten to 20 percent of common area electricity

costs with a payback of one to two years.

Incentive programs help make this a great first project, which can be seen as an investment into your building.

And now that the technology is proven, any risks that may once have prevented someone from doing this retrofit, have been minimized. With LED lighting retrofits, we’ve had an incredible success across our portfolio.”

Optimizing Ventilation: Installing variable frequency drives “Putting controls on the ventilation to allow it to be optimized can lead to great savings. Currently ventilation operates 24-7, so you’re bringing in the same amount of fresh air into the corridors at all times. But since most buildings are only partly occupied during the daytime, optimizing ventilation around high occupied times when more people are cooking makes more sense. The

30 | Canadian Apartment | Part of the REMI Network |

returns are quite strong on this program, with a payback in as little as half a year in some cases.”

Installing a “PUMPSaver” “Installing a PUMPsaver can help correct a problem that is common in a lot of multi-res buildings. Many hydronic heating and cooling systems waste energy by operating multiple, oversized pumps at full speed while provided constant flow with a restricting valve.

Toronto Hydro’s PUMPsaver program is an end-to-end solution to optimize our system, and it’s currently offered free of charge. Basically it involves adding variable frequency drives to pumps, opening the valve to maintain the same constant flow but at a lower motor speed. Operating the pump for the same flow at a lower motor speed significantly reduces the electricity use by the pump.”

Ask the Expert Often they can be upgraded, but given the impressive efficiency gains in newer models, a full replacement may be your best option.”

Energy Retrofit Opportunities with Expected Common Area Electricity Savings Chiller (air conditioning plant) Tune-Up

(~ 5-10% electricity savings w. 1-3 year payback) Ventilation Optimization (AirSaver) (~ 5-10% electricity and gas savings w. 0.53 year payback) Htg/ClgCirculation Optimization (PumpSaver) (~ 1-5% electricity savings w. 0-3 year payback)

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In conclusion, Gupta stresses that having an “Energy Action Plan” is an integral first step to avoid retrofitting parts and systems that may clash. Having a solid plan in place, and thoroughly understanding all the costs, risks and benefits before undergoing the retrofits, is encouraged.

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Chiller Plant Commissioning – “Chiller tune-ups” “For many buildings, chiller plants are the largest user of electricity. They tend to be oversized and operate at the low end of design conditions. In order to capture interactive cooling savings from LED and Ventilation Optimization measures, it makes sense to look at how to efficiently operate that chiller at lower capacities. A chiller plant commissioning exercise can help to operate at lower load conditions as well as identify operational and retrofit opportunities. With the Existing Building Commissionioning (EBCx) incentive, the owner can get 75% of cost of the EBCx exercise. We expect the remaining 25% to be recovered quickly through electricity savings from the low cost/ no cost measures in 1-2 years. Any chillers older than 15 years should be evaluated against newer high-efficiency models.

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| www.REMInetwork.com | November 2016 | 31 PayQuad_CAM_AugustSeptember_2016.indd 1

2016-09-23 4:18 PM

Management

Integrating IT into Everything It’s Time We Start thinking and Acting like Technology Companies

By Brian Turpin

Are you still relying on Excel spreadsheets to manage important resident information instead of leveraging dashboards with data analytics? Are you still using clipboards and paper instead of tablets out in the field? Are you still collecting rent cheques every month that you then need to take to the bank to deposit, hoping you don’t misplace one? If you answered yes to at least one of these questions, it’s time to make the jump into the digital realm and deploy a resident portal.

The fact is, we live in a digital world. Yet the adoption of technology is often painfully slow in our industry. It’s time that we start thinking and acting like technology companies. Brian Porter, CEO of Scotiabank, has famously said, “We’re in the technology business. Our product happens to be banking, but largely that’s delivered through technology.” Maybe you’ve seen the latest General Electric marketing campaigns that position the organization as a “Digital Industrial Company”.

With CEO Jeff Immelt at the helm, GE is revolutionizing a 32 | Canadian Apartment | Part of the REMI Network |

120-year-old business with technology as its vehicle.

Technology already exists and it’s relatively easy to access, with over 1.6 billion dollars invested in real estate technology. In fact, 78% of the top-performing companies engage with startups that design and invest in technological advancements.

Maybe it’s an issue of resources that is preventing more property management firms from doing the same but the fact remains that most, if not all, property management companies have an IT department. Are those individuals involved in the

Management

business decisions? Is there an alignment between IT, Management, Operations, HR and Marketing? Your business needs to include IT in as many aspects of decision-making as possible, and it’s the responsibility of the IT department to know the business inside out. IT departments need to be recognized as business enablers. Technology is the easy part—it’s creating a culture of change and managing people that pose the challenge. Aligning all departments is the key to success.

Every modern company has technology at its core, whether they realize it or not, and it’s an exciting time to be involved.

Thanks to a myriad of digital innovations, we have the ability to scale in real-time using cloud technologies and mobility advancements, which allows for communication and collaboration from any location. With the evolution of the Internet of Things (IoT), the rise of Virtual Reality (VR) and the continuous strides in Artificial Intelligence (AI), the ability to leverage these technological disruptors will directly correlate with who will emerge as leaders.

We believe everyone can live with higher expectations.

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.

| www.REMInetwork.com | November 2016 | 33

Management

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Building Envelope Repairs

In our industry specifically, the consumer market for smart homes is exploding.

Amazon Echo, Google Home, Nest, Ecobee Thermostats and wireless ceiling fans that connect to your personal WiFi are just the beginning. Tridel, for instance, has recently adopted a virtual concierge at one of its Toronto condo properties.

An off-site operator is visible to building occupants and visitors on a large flat screen monitor behind the concierge desk in the lobby. Two-way video and audio capability enables the remote operator to communicate with residents. It’s expected to reduce security costs by about 40% — a saving that condo owners should see in their fees.

If you have stepped into an elevator in any of the newly built commercial buildings in Toronto, you’ve probably noticed the buttons directing you to a specific floor are now on the outside, allowing for faster delivery of people.

This is a perfect example of adding value for renters and also saving money for the property management company. By placing buttons on the outside, there is a reduction on wear and tear on mechanical components. Further, devices that order parts and place service calls for themselves will be the new norm. Based on real-time sensors and predictive replacement life cycles, they will be able to self-manage.

It’s time we start leveraging these technologies on an enterprise scale. They will not only provide value-added services to our renters, but the cost savings in energy and building efficiencies will more than pay for themselves in the end.

So where do we start? It’s as easy as a conversation over coffee – or suds – with a member of your IT team or reaching out to one of your digital vendors.

You don’t have to hit a “home run” on your first project. Start with an easy attainable task such as scanning your paper documents and freeing up that precious storage space. From there, you can begin to build a more structured approach involving all aspects of the business and create your digital vision. Our industry is more than just bricks and mortar; we’re becoming digital bricks and mortar. It’s time to start integrating IT departments into every facet of your business. Your residents – and your bottom line – will thank you.

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AllProfessionalTrades_CAM_February_2015.indd 1

| www.REMInetwork.com | November 35 2016-03-312016 11:00| AM

Marketing

.CA Growing Your Online Portfolio with .CA How the Canadian Domain Extension Gives a Marketing Edge

By Jasmin Bollman

By now, you’re already well aware that having an online presence for your property management company is essential. You’ve read countless articles expounding on the advantages of advertising your properties on websites like Kijiji and Craiglist, not to mention your own corporate website. Sure, these methods are tried and true; tested and proven. But if you really want to grow your reach online, particularly if your properties are in Canada, you need to start by growing something else: your domain portfolio.

36 | Canadian Apartment | Part of the REMI Network |

> EMAIL MARKETING COLUMN Sponsored by MediaEdge

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By Steven Chester Despite the constant barrage of new ways to communicate, email still stands tall among marketing channels for reaching out to existing clients and sourcing new business.

Why Domains?

Let’s face it: many companies take the oneand-done approach to domains. While that may work for certain businesses (we’d argue that it doesn’t work all that well, but that’s for another article), for property management companies it is not an ideal way to get your apartments for rent actually found online.

Imagine owning a portfolio of domains that maximize your online exposure through unique keywords, geo-targeting and builtin search engine optimization (SEO). By expanding the domains under your own management, you expand your reach.

Greenwin Inc., one of Canada’s leading property management firms, has already started employing this modern approach to renting apartments. When they wanted to increase exposure for their condo-style apartments at 88 Erskine Avenue in the heart of Toronto’s Yonge and Eglinton neighbourhood, they did far more than just put up a few ads. They purchased the domain www.88erskine.ca and built out a site that was able to showcase everything the property had to offer, in addition to including an online portal for residents of the property.

This approach gives Greenwin’s property several advantages. First, when potential tenants search for apartments on or near Erskine Avenue, without having ever even heard of Greenwin, the built-in keyword of “Erskine” right in the domain will give them a higher Google search ranking (go ahead and search “Erskine apartments” right now and see where 88erskine.ca appears for you). The second is the use of the .ca domain, which quickly and easily identifies this apartment building as being owned and operated by a Canadian company.

Why a .CA? You may be wondering why it even matters that you identify yourself as being a Canadian company online. After all, if you’re renting an apartment in Canada, people should just know, right?

Unfortunately, that is not always the case. We’ve all read about people being scammed by phishing ads on Kijiji and Craigslist that ask potential tenants to send money online in order to lease an apartment. While awareness of these scams has grown, the appetite of consumers to

Keep these three items in mind when planning your next email marketing campaign: • Seventy-two per cent of people prefer to receive promotional content through email, versus 17 per cent who prefer social media. Put this in perspective of the end user. No one likes an influx of marketing messages clogging their Facebook feed. The content-first nature of social media marketing employs a completely different strategy, so be certain your messages that are overt marketing are confined to email.

• Mobile now accounts for 54 per cent of email opens. With 70 per cent of consumers immediately deleting messages that don’t render well on their device, you can’t ignore mobile.

Any good email marketing software offers a mobile-friendly template. If yours still doesn’t, start shopping for alternatives now.

• Personalized email messages improve click-through rates by an average of 14 per cent. If you’re using email marketing software, make sure you have the capabilities to import your contact’s names and company names along with their email address. You’re far more likely to get attention from the user if their name and company are reflected in the subject line and within the message’s content.

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 | November 2016 | 37

Marketing conduct business with someone who they know is Canadian has also grown exponentially.

According to a 2015 report by the Canadian Internet Registration Authority (CIRA), 77 percent of Canadians want to support Canadian businesses whenever it is possible. One way to easily identify yourself as Canadian is to use a .CA domain for your business—and the Canadian public supports this approach. In fact, 64 percent of Canadians believe that if you are a Canadian business, you should be using a .CA domain.

Further, Canadians associate the .CA domain with being safe and secure, which is why 57 percent of Canadians prefer to use .CA domains when it comes to exchanging personal information online, such as through online banking or contacting government organizations. If you are building an online portal for your residents to use—a service where they would likely be paying their rent online—using a .CA domain will help to ensure they feel secure providing their sensitive banking information to you. Coupled with SSL certificates, your websites will provide residents with the peace of mind that their information is being handled safely and appropriately.

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How Do I Start?

Registering .CA domains for all of your properties is easier than you think. You just have to work with a registrar that takes your domain portfolio as seriously as you do. Rebel.com, for instance, is one of Canada’s leading domain registrars that will not only register all of your domains, but optimize them for maximum SEO benefits, and stay on top of the latest trends to alert you to new opportunities.

“Our Business Development team works directly with clients to ensure all aspects of their domain portfolio management are covered,” says Taryn Manias, Director of Business Development at Rebel. “From securing domains and executing on marketing trends, to strategic brand protection, all facets of what we do contribute to opportunities for increased online presence and tangible growth. The domain industry can be misunderstood and undervalued, but once clients begin to see results, it’s a no-brainer.”

In short, with the help of a dedicated registrar invested in your success, you will see both your website traffic and your return on investment increase in the years to come. It’s time to say goodbye to empty apartments.

Jasmin Bollman is the Digital Marketer at Rebel.com 38 | Canadian Apartment | Part of the REMI Network | Untitled-7 1

2016-03-09 10:00 AM

Insurance

Technology For Insurers?

Don’t Expect Much!

By Andy Schwartze

There is an incessant rattling in the air among insurance professionals, raising the ugly spectre that those who fall behind in techno matters will become the inevitable casualties of texting and apps, relegated to the dusty archives of what once was.

Nothing could be further from reality in that both arms of the industry rely on information that is not static, and easily changes over potentially short periods of time. The very clear requirements that dictate the use of private information make it difficult for insurers to create the kind of templates for doing business that can easily be applied in the realm of text and device activity. For the insurance world, social media is good for advertising and informing.

The life insurance industry’s core information base is driven by medical information. The health questions that govern acceptability of a new insurance contract

have changed very little in decades. The questions that require answering are highly personal and the answers can change from one day to the next, following a diagnosis of some new condition or reality that impacts an underwriter’s view of the applicant and therefore possibly the terms, conditions and premiums to be offered.

The disclosure of this information needs to be made under signature and the broker and insurer are statutorily obligated to protect (and destroy, if no policy is issued) what has been provided by the applicant. Even in the more “bulk based” benefit plan insurance programs, that are purchased by employers, information

relating to employee hiring, remuneration and designated beneficiaries can change at any time and must be protected. Only foolishness would allow this information to be bandied about on social media systems where it can be compromised or easily hacked. Buying defined products, like clothing and music, is well suited to internet solutions. Personal and private information should never be allowed out in to that sphere. Regulators know this all-too well and have mandated serious penalties for any member of the insurance community whose carelessness allows such information to “escape”.

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| www.REMInetwork.com | November 2016 | 39 LincolnPaving_CAM_OctoberNovember_2016.indd 1

2016-10-17 3:49 PM

Insurance The property/casualty insurance is no that became available for personal and small are different. In addition, each insurer has different. There are some 250,000 occupation business use at that time. In those days, of its own standards as to acceptability and, codes, existent in North America’s economic course, these computers were stand alone inevitably, the usual back and forth that world, and here again the information that an and not connected to the internet or e-mail eventually closes a deal, or breaks it.

Now, having said all that, nothing is underwriter needs in order to “assess risk” is every systems. That changed dramatically over bit as confidential as what is required in the life the next decade. What insurers did back necessarily permanent. The unusual currency insurance world. Corporate services information, then was begin to marry customer data with that is called Bitcoin is based on a technology product listings, payroll and employee count customer transactions. This has worked very that is referred to as “blockchain”. This is join sales and financial statement details as well. In today’s insurance office we collect an exchange system that allows peer to being private to the corporation and worthy of customer information, insurance coverage peer transactions to take place without any templates and, of course, sensitive client intermediary activity and without a trace. It is significant protection.

Insurance brokers need to ensure that information. We are very cognizant of our a software system that, quite frankly, very few the information is not released to an insurer statutory responsibilities to curtail, as much of us understand and one that is treated with without consent and, as companies grow, as we can, exposing that information to any significant scepticism. But I have to mention protect updated information with equal internet “quick fixes” intended to speed up the it because it is a uniquely different “medium of exchange”. There is some speculation as to fervour. Here too, regulators place a significant negotiation process on behalf of our clients.

It is not always entirely possible, but it there being any future for it in the insurance responsibility on the client’s insurance broker to ensure that computer records and files are is highly doubtful that insurance deals will world but until blockchain becomes a more not compromised and revealed to others. become a standard feature of that part of social established reality in commerce the insurance Again, the internet does not provide sufficient media that is in use for fast communications world, conservative and risk averse as it is, protection to enable such business activities to and easy purchases. Insurance is a complex won’t touch it. The more things change, the financial service and each client’s requirements more they stay the same. be conducted by text, or app.

The use of technology in the world of insurance started with the appearance of the first computers for business use around Andy Schwartze, BSc., MBA, CIP, is an insurance broker specializing in property management TakeCover_CAM_August_2013_FINAL.pdf 1 13-07-22 2:54 PM andy@takecover.ca.

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40 | Canadian Apartment | Part of the REMI Network | DMSGroup_CAM_March_2016.indd 1

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