Canadian Apartment Magazine April/May 2008 Issue by Rick Evangelista

C A N A D A â&#x20AC;&#x2122; S O N LY N A T I O N A L P U B L I C A T I O N F O R A P A R T M E N T O W N E R S A N D M A N A G E R S

VOLUME 5 / NUMBER 1 / APRIL/May 2008

DMS Aims to Eliminate Paperwork The Truth About Stats

Collecting Rent Electronically Subsidized Housing a Source for Energy Savings FIVE YEAR ANNIVERSARY ISSUE

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Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, ers Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Chatham, Cornwall, Edmonton, Gatineau, Tow e n , or Westminster, Niagara Falls, kth ents Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, cOakville, Bla Apartm ntario El[h (("&&& Kd_ji IebZ _d / O[Whi Toronto, Vancouver, Belleville, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, a, O 83 awBrampton, Ott London, Mississauga, Kingston, Kitchener, Lindsay, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, _d (- cWha[ji rkway Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St.PaThomas, Toronto, Vancouver, Belleville, Brampton, Brantford, 934 Apart Place Apartmen ts m e nts, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Toronto, Ontario Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Sam Firestone LL.B.Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Brantford, Burlington, Chatham, Cornwall, Edmonton, Principal / BrokerNiagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Mississauga, Montreal, New Westminster, (613) 614-6434 ext. 222 Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, B.B.A.Sarnia, St. YCatharines, Oakville, Oshawa, Ottawa,Aik OwenAliferis Sound, Richmond, St. Thomas, Toronto, Vancouver, Belleville, o 10 rk T Principal Chatham, / Broker Cornwall, Edmonton, 8 o Brampton, Brantford, Burlington, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, To Ap we ron ar rs (613) 724-9242 ext. 234 Niagara Falls, tm to,Oakville, London, Mississauga, Montreal, New Westminster, Oshawa, Ottawa, Owen Sound, Richmond, On ents t , ari Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, o Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Primecorp Realty Inc., Broker Westminster, Niagara Falls, Oakville, Oshawa,Commercial Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Primecorp Québec Commerciale Inc., Courtier Immobilier Agréé Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, HEAD OFFICE Kingston, Kitchener, Lindsay, London, Mississauga, Westminster, Falls, Oshawa, 275 Bank Street, Suite 301 Montreal, 36 Blue JaysNew Way, Suite 718 1233, rueNiagara de la Montagne, SuiteOakville, 101 Ottawa,St. Ontario K2P 2L6 OntarioToronto, M5V 3T3 Vancouver, Montreal, Quebec H3G 1Z2Brampton, Brantford, Ottawa, Owen Sound, Richmond, Sarnia, Catharines, St.Toronto, Thomas, Belleville, Burlington, Chatham, Cornwall, Edmonton, Gatineau, Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville, Oshawa, Ottawa, Owen Sound, Richmond, Sarnia, St. Catharines, St. Thomas, Toronto, Vancouver, Belleville, Brampton, Brantford, Burlington, Chatham, Cornwall, Edmonton, Gatineau, www.primecorp.ca Hamilton, Kingston, Kitchener, Lindsay, London, Mississauga, Montreal, New Westminster, Niagara Falls, Oakville,

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C A N A D A ’ S O N LY N A T I O N A L P U B L I C A T I O N F O R A P A R T M E N T O W N E R S A N D M A N A G E R S

VOLUME 5 / NUMBER 1 / APRIL 2008

20 Industry Profile

DMS Aims to Eliminate Paperwork DMS Aims to Eliminate Paperwork The Truth About Stats

Collecting Rent Electronically Subsidized Housing a Source for Energy Savings '*7& :&"3 "//*7&34"3: *446&

CAM_CoverApr08.indd 1

If you manage a multi-residential building, you likely have a lot of paper files. One company, DMS Property Management, has taken an innovative approach to paperwork. They’ve created an electronic accounting system that tracks everything from purchase orders to contractor credentials.

4/3/08 11:38:18 AM

contents... 8 The Truth About Stats

If you use Internet adverting you need to see audited traffic reports before making a purchase.

12 Vendor Integration

Property owners benefit from software that integrates the various aspects of property management.

18 Subsidized Housing a Source for Energy Savings

Hamilton City Housing has introduced a $1.9 million energy management plan aimed at minimizing consumption and reducing environmental impact.

28 Housing Market Trends Impact the Rental Industry

While the U.S. housing market is in decline, economists predict that the Canadian real estate market will remain relatively healthy.

30 Slow Progress to Current Value Assessement

Tax caps and clawbacks continue to skew apportionment.

32 Backflow Prevention Doesn’t Have to be a Headache

Many cities and municipalities now require annual backflow inspections. A properly installed backflow prevention device can solve any problems.

20 Multi-facts 38 Regulations

4 Canadian Apartment Magazine

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Vancouver

Calgary

604.681.5300 800.567.8711

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Toronto

416.593.1100 800.465.0039

Montreal 514.499.8900 888.499.1733

Halifax 902.452.0776

editor’s note Canadian Apartment Magazine Celebrates its Fifth Anniversary

This issue marks Canadian Apartment Magazine’s fifth

anniversary as a national publication. In its original format the publication was a newsletter known as Multi-Residential Report. It was distributed on a regional basis, mostly in Ontario and coverage was limited to regulatory issues and news aimed at real estate investors. Today Canadian Apartment Magazine is Canada’s only national publication for multi-residential owners and managers. Over the past five years our purpose has been to give our readers insight into the business practices of industry leaders, information on ways to enhance your cash flow and tips on reducing your operating costs. In short, we’ve tried to give you the information you need to make the most of your multiresidential investment. We’ve taken the position that that information should come directly from the front lines. To that end we’ve done our best to find industry professionals and experts who have an understanding of the day-to-day challenges of the multiresidential sector and are willing to pass that information along to our readers. In our first national issue in 2003 we profiled DMS Property Management. To mark the anniversary we once again called on the DMS to see what has changed in the company and the industry. Today we find that DMS is once again leading the industry. The company has spent several years developing an electronic accounting system that tracks everything from purchase orders to contractor credentials. The electronic database not only eliminates paperwork, it also speeds up the approvals process and vastly improves the month-end financial statements provided to property owners. Elsewhere in this issue our marketing writer Jason Leonard gives us the straight facts on statistics, especially as they relate to the money you spend on advertising. Where online advertising is concerned you should ask for an audited thirdparty report and check the positioning of the company’s search engine. Our property management column focuses on collecting rent through preauthorized debit payments. They make it easier for your tenants to pay the rent and reduce your banking costs. Randy Threndyle Editor randy@hushmedia.ca

Quoteworthy

“A large measure of our success is what the client’s auditor says about us.” – page 24

6 Canadian Apartment Magazine

PUBLISHER Kevin Brown

ASSOCIATE PUBLISHER Joshua Fulton

EDITOR Randy Threndyle

SENIOR DESIGNER Annette Carlucci

DESIGNER Ian Clarke

CONTRIBUTING WRITERS Paul Abrams Peter Altobelli Kaitlyn Baptist Barbara Carss Robert Helyar Jason Leonard Randy Threndyle For sales information call (416) 966-4874 Canadian Apartment Magazine is published six times a year by:

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

Tel: (416) 512-8186 Fax: (416) 512-8344 President Kevin Brown Copyright 2008 Canada Post Canadian Publications Mail Sales Product Agreement No. 40063056 ISSN 1712-140x Circulation ext. 230 Subscription Rates: (GST Included) Canada: 1 year, $44.94 2 years, $80.79 Single Copy Sales: Canada: $8.00 Reprints: Requests for permission to reprint any portion of this magazine should be sent to Josh Fulton 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. 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

CHOOSE ROGERS AND GIVE YOUR TENANTS THE HOME THEY’RE LOOKING FOR. When you choose Rogers as your communications and entertainment provider, you’re choosing to partner with a leader. Through our continued partnership, Rogers will carry on delivering excellent value for your tenants.

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BENEFIT FROM CHOOSING MULTIPLE ROGERS PRODUCTS – HOME PHONE, WIRELESS, INTERNET AND DIGITAL CABLE. Trademarks of Rogers Communications Inc. or of Rogers Cable Communications Inc., used under license. ®YAHOO! is the trademark of Yahoo! Inc., used under license. All other trademarks are the property of their respective owners. © 2007 28-12

marketing

The Truth About Stats

If you use Internet advertising you need to see audited traffic reports before making a purchase. by Jason Leonard

Do you know what BBM, Nielsen, ABC and ComScore all have in common? They’re independent third-party auditors, specializing in measuring the audiences of various media. And what does that mean to you? There are lies, damn lies and statistics! So why does this matter to the landlord industry? The answer is simple. Landlords spend thousands if not hundreds of thousands of dollar on advertising every year. Knowing how to effectively determine the value of the advertising options available to you can literally save you 50 per cent or more on your advertising budget. The objective of course is to cut through the mistruths and find media buys that will truly help you fill your vacancies. Understanding the questions to ask can and will save you time and money in the long run. The primary media used by landlords today are newspapers, rental magazines and the Internet. Of the three, the Internet is the least understood by landlords in terms of how to properly determine the value of the advertising being offered. Fact is there are so many different metrics being given from each of the services that it can be a little confusing. Unlike its print counterparts, the Internet is blessed with a tremendous capability to track results. It’s this same ability that also makes it vulnerable to those who choose to deliberately mislead potential clients with irrelevant stats. In other words, beware of stats that sound too good to be true! 8 Canadian Apartment Magazine

When an online company asks for your business, here’s what you should do if you want to make sure you’ll get good value for money spent. • Ask for an audited third-party stats report from a company like ComScore or ABC Interactive. • Check the company’s search engine positioning very carefully. The role of a third-party audit is important in that they produce unbiased reports about how well a particular advertising service performs. They measure everything from audience size to demographics enabling you, the media buyer, to make quick and informed decisions. It takes much of the guess work out of the equation and reduces the risk of a purchasing mistake. Think of some of the top national brands and the types of advertising they do. These companies typically use everything from radio to television to the Internet. When they buy their advertising, they buy based on the numbers supplied by these independent auditors. They will often choose certain programs or time slots in order to reach desired numbers or demographics. Ever wonder why a 30 second ad during the Super Bowl costs over $2 million? It’s because Nielsen says over 97 million people will see it! $2 million sounds like a lot of money but in actuality it’s costing the advertiser about two cents to reach each person

We’ll Treat It Like It Was Ours! Your properties are important investments to be handled with care and respect. You can rest assured, MetCap Living knows this first hand. With over twenty years of proven success, the MetCap Living team will ensure your ‘little nest egg’ is safe, allowing you to breathe easy, as well as relaxed and free of concern. We know your world, because we live it on a daily basis. Marketing, leasing, accounting and site management — in fact, anything and everything you require to provide a better living experience — MetCap Living can deliver. We’ll tailor our expertise and well established infrastructure to meet the specific needs of multi-unit properties. Think of us as a breath of fresh air. Always ready. Always professional.

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watching the game. Looking at it from this perspective makes it look like a bargain.

We’re a Hit! Have you ever heard the following statement, “We get 25,000 hits per day.” What does that mean? Well the truth is it means absolutely nothing! But the person telling you this stat wants you to interpret it as meaning they get 25,000 people to their website a day. They never lied they just wanted you to believe in the big number. The only true measurement of a website’s value is to measure its monthly, not daily, unique visitors. The problem with measuring daily is that you will be quoted the highest one-day

the answer is search engines such as google.ca. A website with poor search engine positioning is akin to being almost invisible. Without a strong search engine presence, it is nearly impossible for a website to drive traffic numbers of any significance. Here’s how you evaluate search engine positioning. Go to google.ca and pretend you are a renter. Enter in keywords and phrases that you would use to find rental listings in the cities where you have properties. Change the order of the words around using as many combinations as you can think of. Note the sites that consistently show up on the first page in the search results. These are the sites you should consider advertising on.

“The only true measurement of a website’s value is to measure its monthly, not daily, unique visitors.”

count for the month and that too can be very misleading. For example, the difference in visitor counts on the first Monday of the month and the second Saturday can easily be over 100 per cent. By accepting a daily measurement you open yourself up to seriously misleading traffic stats. You should also obtain traffic data on a city-by-city basis. Many websites do extremely well in certain cities but have little or no traffic in other cities. They essentially “pawn” off their traffic stats from their base city as being representative on the whole. You should buy advertising in only the cities where the website performs well enough to justify the cost or ask for a discount to run your ads in their weaker coverage areas. Knowing which websites are strong in each city allows you to buy online advertising cost effectively and will save you thousands of dollars in the long run. Another common tactic used to inflate a site’s value is to talk mostly about website usage stats. The problem is these stats by their very nature often seem like large numbers. For example, most average websites can quote fairly high page views. They can also tell you the number of photos their website has served or the number of emails they send out every month. All these stats are helpful, but only serve to show how renters are interacting with the listing data on their website. There are companies that would ask you to view it as a legitimate way of tracking stats when in fact, only a small portion of the real story is revealed. The important part of the story, the part that is missing in all this, is how many people are actually accessing the website. Audited stats reveal the true story.

Most Searches Start on a Search Engine As for where the bulk of any websites traffic comes from, 10 Canadian Apartment Magazine

By asking the right questions you can get the necessary data to effectively choose the best advertising vehicles for your company at the right price.

Questions to ask: 1) Who do you use for audited traffic reports? (Only ComScore and ABC Interactive actually provide audited data for websites. Google analytics does not.) 2) How many unique monthly visitors do you get? Always measure people – it’s who you rent to. Also, always measure over at least a one month period. Daily measurements will vary wildly and could lead to erroneous decisions. Measuring semi-annually or annually will not show seasonal highs and lows. 3) What is your visitor breakdown by city? Remember, just because a website does well in one city does not mean it does well in other cities. You need to see data that supports any claims being made. 4) Does your website provide ongoing activity and phone call reports to show how well my advertising is doing? If you buy the service, you need to track results. Make sure you measure phone calls and emails - data that online advertising services are capable of providing. Above all else, remember this. There are lies, damn lies and statistics! CA M Jason Leonard is the Director of Marketing for gottarent.com. He can be reached at jason@gottarent.com or toll free (888) 966-4966 ext 225

'08

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Commercial Built to Last Longer

marketing

Vendor Integration: Everybody’s Talkin’ by Peter Altobelli

Since its founding in 1982 as a small startup company in Anant

Yardi’s garage, Yardi Systems has grown to become the global leader in asset and property management solutions, and serves more than 15,000 businesses, representing 5-million residential units and 5-billion square feet of commercial space in the U.S., Canada, Europe, Asia and Australia. Over the past 25 years, our integrated technologies have changed the way people work. Our solutions are accessible from anywhere via the Internet and the proliferation of massive data centers and broadband networks have created a fabric of information that extends seamlessly across the globe. Today, our solutions are increasingly changing the way people live—the way we share experiences and communicate with colleagues; the way we manage our daily lives; the way we access data; the way we service our clients; and the way we learn. Creating business excellence in the real estate industry requires everyone involved to operate in sync. Integration

12 Canadian Apartment Magazine

is in high demand. Just consider the number of transactions comprising the residential process. They include: • Applicant screening • Rent and utilities payments • Maintenance, and other ongoing business Third-party service companies that perform these functions are becoming increasingly important elements of the residential real estate business. This degree of interaction makes establishing and upholding industry-wide data exchange standards among the owner, tenant, and solution-provider stakeholders more important than ever. The most important benefit of third-party integration is the client satisfaction that comes from efficient, transparent operations. By interfacing seamlessly with their vendors, clients reduce redundant data-entry and therefore have less opportunity to make keying errors. Moreover, the streamlining

of processes allows more time to focus on their asset and property management core competencies. The prospect of uniting hundreds of vendors performing dozens of functions under a common set of standards initially appears daunting. But the problem isn’t lack of technology; rather, the challenge arises from integrating disparate databases and programming standards into a coherent, efficient single unit. Fortunately, the Multifamily Information and Transactions Standards, or MITS, recognizes how important fully integrated property management systems are to enabling clients to integrate with peripheral service providers. MITS, a collaborative effort of the apartment industry, has made the

incorporation of common industry standards a lead priority and guides the effort toward establishing data protocol. Moreover, the number of companies using MITS as a key part of their software integration is growing. One example of vendor interaction is the MITS-compliant Yardi Voyager Residential software system. Designed as a fullyintegrated, browser-based system for multifamily real estate management, Voyager Residential combines accounting and property management data into a single database, enabling comprehensive, up-to-the-minute reports via the Internet. Voyager’s transparent system lets property owners and managers maximize efficiencies, streamline their workflow, and improve communication within their different processes. Such real-time pooling of data into one coherent view is truly a network-centric vision for real estate, one that’s light-years from traditional applications that simply provide data exchanges between tenants and owners. The common standards effort received a high-visibility boost in May, when 100 providers of varying services joined together at an inaugural vendor integration conference in Santa Barbara, California. The gathering featured a demonstration of Yardi’s innovative Interface Program, designed to let Yardi Voyager clients exchange important information among applications without having to re-key identical data into multiple systems. Yardi will hold additional conferences and workshops to advance this effort, and its website contains a section that allows both vendors and clients to request information and submit their interest in the Interface program for their specific integration needs. Fortunately, solutions are close at hand with advanced applications. Enterprise management systems offer MITS compliant XML data exchanges between vendors in several areas, including applicant screening, billing and payments, and Internet listing. Lead tracking systems that track all events, from initial visit to application to the move-in, are under development; and the most mature of these interfaces to date address the applicant screening process, including credit checks. With the conference successfully concluded, Yardi continues to work with such vendors as CBC/AmRent, Kroll Factual Data, and many others. Seamless integration has become a reality and common data exchange standards will continue to emerge— and the residential real estate industry will be strengthened as a result. Next issue, look for an article about portal technology and how it assists real estate organizations with marketing, retention, services and competitive positioning. CA M

Peter Altobelli is the Vice President and General Manager of Canadian Operations for Yardi Systems Inc. You can contact Peter at: peter.altobelli@yardi. com or 888-569-2734. 14 Canadian Apartment Magazine

“Yardi Voyager has improved the cost effectiveness of our operations and enables us to make better management decisions.” Leonard Drimmer Chief Executive Officer TransGlobe Property Management Services

Known for their integrity and superior customer support, TransGlobe Property Management Services uses Yardi Voyager™ to manage their mixed portfolio of over 24,000 apartments and 5.2 million square feet of commercial space throughout Canada. Yardi’s solutions provide TransGlobe with real-time data, powerful reporting tools, and a competitive edge via the Internet. Streamline your business with the leading asset and property management system in Canada — Yardi Voyager.

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multifacts Saskatchewan Creates Task-Force on Housing Affordability

Manager of Policy at FRPO. “This is despite senior tenants having much lower incomes and shouldering a higher property tax burden than homeowners.”

Saskatchewan Social Services Minister Donna Harpauer has created a two-person Task Force on Housing Affordability aimed at ensuring that housing affordability keeps pace with the province’s economic boom.

Builders Lose Confidence in U.S. Rental Market

The Task force members are former MLA Ted Merriman and Saskatoon City Councilor Bob Pringle. They will meet with stakeholders in Saskatchewan cities to gather input and provide recommendations to the provincial government on policies to encourage greater housing affordability. The task force will focus on three areas: • Improving housing affordability and security for those least able to afford rising housing costs; • Increasing capacity in the housing system to encourage the creation of affordable housing; and • Examining how best to facilitate the long-term monitoring, policy development and provision of affordable housing in Saskatchewan.

Ontario Budget Unfair to Seniors The Federation of Rental-housing Providers of Ontario (FRPO) is disappointed that the Ontario government’s 2008 budget proposal for a $1 billion five-year Senior Homeowners’ Property Tax Grant comes at the expense of providing assistance to higher-need, lower-income tenants through an expanded housing allowance program. The government is proposing to help low- and moderate-income seniors who own their own homes offset their property taxes by $1 billion over five years. In early 2009, the Province would provide about 550,000 senior homeowners with grants of up to $250 rising to a maximum of $500 by 2010 with an annual cost of $260 million. “Seniors who rent in Ontario will not receive any property tax credit or assistance under the 2008 Budget”, said Mike Chopowick,

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Builder confidence in the U.S. rental apartment market sagged in the fourth quarter of 2007, according to the latest results of the Multifamily Rental Market Index (MRMI) released in March by the National Association of Home Builders (NAHB). “The housing market is undergoing a significant correction and that is affecting all segments of the industry, both multifamily and single family, for rent and for sale,” said NAHB Chief Economist David Seiders. “The excess inventory has to be absorbed in order to restore balance to the housing markets.” The MRMI is derived from a quarterly survey of multifamily builders and developers, in which their responses are rated on a scale of 0 to 100, with a rating of 50 generally indicating that the number of positive responses is about the same as the number of negative responses. For the fourth quarter of 2007, the measures that track builder confidence in the current supply and demand conditions for all classes of multifamily housing—except the most affordable apartments—fell to or below 50. Asked about their expectations for the next six months, builder confidence remained weak, with the component of the index for market rate apartments standing at 50.0, and for lower-rent apartments at 48.9 in the fourth quarter of last year, down from 69.5 and 59.5 at the same time the year before. As the number of calls from prospective renters slowed, incentives and concessions were being used to shore up demand, according to survey respondents. As a result, the component of the index that tracks net rents dropped sharply, down from 61.3 in the fourth quarter of 2006 to 47.5 for the fourth quarter of 2007.

Ontario Offers $100 Rental Housing Allowance Qualified Ontario households can apply for assistance with their rent under the second phase of the Rental Opportunity for Ontario Families (ROOF) program. The program provides a housing allowance of up to $100 per month for a five-year period to eligible low-income working families. Families may qualify for ROOF, if they: • Have at least one child under the age of 18 • Have a net income below $20,000 per year, as outlined in the program guidelines • Pay more than 30 per cent of their income on rent • Are not receiving rent subsidy or social assistance. Eligible families who applied for the program last year do not need to reapply to continue to receive assistance. Applications will be considered on a first-come, first-served basis until June 30, 2008. There are a limited number of ROOF housing allowances available. Families can obtain an application form for the ROOF program by calling toll-free 1-888-544-5101, TTY line 1-800-263-7776, or by visiting www.ontario.ca/ROOF.

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Ottawa Considers Buying Buildings to Increase Supply of Affordable Buildings The City of Ottawa is considering buying apartment buildings, in an effort to create affordable housing.

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Russell Mawby, Director of Housing, told a city committee in March that Ottawa needs to buy existing rental buildings so that they are kept as low-rent housing, rather than overhauled into high-end housing or torn down. The city could use money from the federal and provincial governments to buy affordable housing or it could start its own reserve fund to finance such deals. The city has had a hard time building new social housing for low-income residents in recent years. Only 410 units have been built since 2005. In the same period, 2,073 rental units were lost in Ottawa. There are about 68,000 houses and apartments for rent in Ottawa

Metropolitan Area, Kelowna, saw its vacancy rate decline from 0.6 to 0.0 percent. Increased job opportunities, the rising cost of home ownership, a high level of immigration and longer completion times on new multiple-unit projects kept rental demand strong. On the supply side, This year the city has $12.7 million from the federal and provincial there have been very few new rental projects built in B.C. governments to use for affordable housing construction, which could be during the last183 year. used to construct new units. But Mawby said another option would be to buy when rental buildings become available. They would then In the Eastern provinces, Halifax vacancies declined a be renovated and likely turned over to a community housing agency. tenth of a percentage pointbetointerested 3.1 percent in 2007. Declines Community agencies that might in providing housing don’t have money to buy apartment buildings, he said. werethealso recorded in St. John’s, 2.6 percent (from 5.1 in

2006),said 5.2that percent in Saint John (fromin6.8 percent) and 4.3 Mawby when four rundown buildings Ottawa were renovated and upgraded, the rent went up sharply. Most of the tenants had to leave percent in Moncton (from 5.6 percent in 2006). and many had trouble finding a place to live. Mawby is expected report An analysis the statistics published bythethe Canadian back to the city of committee in June to explain how deals would be financed and what control city council would have overthe theavailability transactions. Federation of Apartment Associations says Mawby said suites older buildings sellat forhealthy between rates, $60,000 and and $80,000 per of rental remains is higher apartment the city rate wouldinlikely spend about $20,000 per vacancy unit to fix than theand vacancy all CMA’s. Even where them up.

rates are low, rental suites are still available because of tenant turnover. For example, in Calgary and Edmonton, “I’m that we’re at last looking at existing It’s cheaperrates than the glad vacancy rate is 1.5 percent, butbuildings. the availability building,” said Councillor Diane Holmes. Councillor Alex Cullen said the are 2.9 percent and 2.4 percent respectively. According to strategy was “a very good idea.” the CFAA report, that means that substantial numbers But Councillor Georges Bédard said he is leery of the strategy because of fears rental suites inhousing Calgary he the city couldwere end upavailable purchasingfor poorrent quality thatand will deteriorate further. “We already2007, have a poor record of maintaining existing Edmonton in October even though the vacancy housing,” said In Mr.addition, Bédard. rate is low. other rental suites are available in The city’s housing agency(i.e. hasrental constant problems with and building the secondary market condominiums one maintenance and the backlog of renovations on its social housing stock and two unit buildings). Reaction to this development role was mixed.

has been estimated as high as $600 million. City officials say a lot of that poor was average built and run by the province handed over Thehousing highest monthly rentsbefore for being two-bedroom to the city in the 1990s.

apartments in new and existing structures were in

Ottawa’s private landlord organization said the city government is Calgarylargest ($1,089), Vancouver ($1,084), Toronto ($1,061) making a big mistake by wading into the property business.

and Ottawa ($961), followed by Edmonton ($958) and “Where does it end?” said John Dickie, chairman of the Eastern Ontario Barrie ($934). The lowest average monthly rents for twoLandlord Organization. “Taxpayers should be very concerned with this. bedroom apartments and existing structures were You don’t have the disciplinein of new the market. It’s much more expensive. in Trois-Rivières ($487) and Saguenay ($490). “Council is going down the wrong path. We’re good at building bricks and mortar. The government is not good at bricks and mortar,” said Dickie. Dickie tried to convince the committee that the city should be providing shelter allowances for low-income people, rather than spending “astronomical” amounts of money building new social housing. The average cost of new housing built by the city over the last few years has been $144,000 per unit. Rent subsidies for low-income people allow them to pick their accommodation from what’s offered in the market and have part of the rent, perhaps $250 monthly, covered by government.

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There seemed to be little interest in rent allowances, however. Mawby described them as “unwieldy, unworkable and incredibly expensive to administer.” The city has declined to take part in a provincial housing allowance program that could have helped 400 tenants for five years, according to Dickie.

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The acquisition facility is intended to allow Mainstreet the opportunity to continue to grow its portfolio while reducing its interim financing costs on new unstabilized acquisitions. It is expected that Mainstreet will use the money to purchasing under-performing properties. The company plans to renovate the properties, improve operating efficiencies and reposition them in the market. Mainstreet also announced the appointment of Johnny Lam to Chief Operating Officer and Cory Tamagi to Chief Financial Officer. Mr. Lam previously held the position of Chief Financial Officer of the corporation. His new responsibilities will include oversight of the dayto-day operations of Mainstreet. As Chief Financial Officer, Mr. Tamagi will be responsible for the financial affairs of the Corporation. Mainstreet is a Calgary-based, real estate corporation focused on the acquisition, redevelopment and repositioning of mid-market apartment buildings.

April/May 2008 17

energymangement

Subsidized Housing a Source for Energy Savings Municipalities Mandated to Report Conservation Progress

by Kaitlyn Baptist

Hamilton City Housing has introduced a $1.9 million multifaceted energy management plan, combining energy-efficient initiatives with renewable energy systems to minimize consumption and reduce environmental impact. This follows Hamilton City Council’s adoption of a new Corporate Energy Policy in 2007, which set a target to reduce energy use in Cityowned buildings by 20 per cent by 2020. “Our Council has put a great deal of commitment behind energy initiatives and they recognize the many benefits that come as a result of moving forward with energy conservation, and it’s not just dollar saving” says Geoff Lupton, Hamilton’s Manager of Energy Initiatives. “As we continue to push forward we are helping to protect the environment, conserve energy and water resources, improve city housing conditions and educate the community.” Several initiatives are slated for the City’s subsidized housing portfolio this year including boiler replacements, lighting retrofits, water conservation, energy audits and a pilot project to test solar domestic hot water applications. With projected annual energy savings of $300,000, City officials expect to recoup their capital investment in about 6.5 years. “We’ve been extremely careful through the process that we put in proven technology as opposed to taking a risk on something that may or may not perform as well,” says Jim Hickey, Senior Project Manager of Energy Initiatives. “The tenants are our customers and it is important to us that their needs are met first. The savings are secondary.” 18 Canadian Apartment Magazine

Solar equipment will be installed and operational in at least one housing complex this summer with the aim of reducing natural gas use for domestic hot water by 30 to 40%. Other planned energy efficiency measures are expected to deliver savings of 7.5 per cent on water, 2 per cent on hydro and 2 per cent on natural gas, going beyond the 1.5 per cent annual savings target adopted in the Energy Policy. Modernized equipment should also save on maintenance costs. “At the end of the day what we end up doing is putting in better quality equipment, improving the existing technology and saving much more energy over the long run,” Lupton says. “When you look at the hard numbers, it starts to become a nobrainer.” The initiatives will also support the City’s efforts to comply with Ontario’s Energy Conservation Responsibility Act. That legislation was passed in 2007 and requires municipalities to report on energy consumption, proposed conservation measures and progress on achieving results in all of municipally owned buildings. “Everything from kilowatt-hours for electrical use to cubic metres of water will be tracked on a per suite basis, providing us with a reliable measuring stick,” Hickey says. “The tracking system prompted the legislation is an excellent exercise in determining where energy is going in order to control what is being used. Providing this kind of baseline helps determine what is normal within the industry and within our own portfolio.” CA M

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industryprofile

20 Canadian Apartment Magazine

industryprofile By Randy Threndyle

Electronic Purchase Order System Eliminates Paperwork

This issue marks Canadian Apartment Magazine’s fifth anniversary as a national publication. In our first national issue in 2003 we profiled DMS Property Management. To mark the anniversary issue we once again call on the DMS to see what has changed in the company and the industry.

Managing a wide-ranging portfolio that includes both public housing and privately-owned multi-residential properties requires tight control of expenditures and up-to-the minute financial information. It also requires keeping track of contractors and buildings spread over a wide area. For DMS Property Management Ltd., a Toronto-based thirdparty management company, the answer has been a move away from paper-based accounting systems to a Web-based property management system that keeps track of everything from purchase orders to contractor credentials. DMS manages about 12,000 multi-residential units in 50 municipalities across Ontario. Moving information between wide-spread apartment complexes and regional offices required developing a software solution that was above and beyond what was available in standard property management software. In 2004 DMS began using Yardi Voyager, a Web-based management system for multi-residential real estate management. The Yardi software allows users to combine accounting and property management data into a single database. Since the system is Web-based, anyone with access to the Internet can input or receive reports. Paul Smith, Chief Administrative Officer of DMS says the goal of the system is to speed up the reporting process and improve the information provided to clients. In order to do that

DMS has been working to eliminate paperwork and replace it with electronic files, especially where purchase orders are concerned. The company handles about $130 million of expenses on behalf of its clients each year and writes about 40,000 cheques per year. “For each cheque that’s produced we have to have all the supporting paperwork and backup. Every invoice that’s attached to a cheque has to be approved by a property manager. Then for every invoice we want to have a purchase order. So it’s an awful lot of paperwork that gets built up,” says Smith. To reduce that paperwork the company has focused on developing software that can create an electronic, rather than a paper purchase order. The proprietary software is Web-based and is integrated into the Yardi Voyager system. The advantage of an electronic purchase order is that it allows a property manager to produce a purchase order and get it approved without ever leaving the office. Rob Watt, Chief Operating Officer for DMS, says “In the old days you would fill out a purchase order that would have to get mailed or couriered to your boss for a signature and then maybe to that person’s boss and then sent back.” By doing purchase orders electronically a manager, no matter where he is in the province, can send an e-file and get approval, often in a matter of minutes. Once approved the purchase order is sent to the contractor electronically and work can begin immediately. April/May 2008 21

“It not only reduces paperwork, it also speeds up the approvals process immensely,” says Watt. For clients it’s meant that work is completed much faster. “Once they approve a purchase, work can start immediately,” says Smith. That improves the client relationship as when the issue is reviewed at the next meeting with the client the work is often completed. Under the old paper purchase order system, weeks could go by before the work was started. That’s important, says Watt, as any purchase over $2,000 requires client approval. Internal procedures are in place to handle amounts under $2,000. DMS first began testing the electronic database system three years ago. To date the company has managed to convert about half of its business to the electronic model and expects to have all of its suppliers and customers on the system before the end of this year.

Accurate Accruals Electronic approvals have also made the company’s month-end financial statements to its clients are much more accurate. In the past, says Watt, DMS had to rely on paper purchase orders making it to the accounts payable department prior to month end so that proper accruals could be calculated. Since all the purchase orders are transferred by email, they arrive at head office the moment they are filed. That allows the company to do month-end electronic accruals for all outstanding or open purchase orders. “In terms of our financial reporting, what this tool allows us to do is strike the accruals and be 100 percent accurate,” says Watt.

22 Canadian Apartment Magazine

That’s a budgeting advantage for the owner as they’re not waiting for the purchase orders to come in from buildings across the province. They can close the financial statements and get the month-end report for that client, safe in the knowledge that all monthly expenses have been properly accounted for. The electronic purchasing system has also been a hit with auditors. Since the company is a third-party manager, all of its books are audited by the client’s auditors. In order to satisfy the requirements of a variety of auditors, companies like DMS have to do proper accruals and issue financial statements that meet the needs of the auditors employed by the company’s clients. The auditor goes over the statements and determines whether the statements are correct, whether generally accepted accounting principles (GAAP) were followed, and looks for any issues that the client should be aware of. “These tools we have developed allow us to be even more accurate so the audits are better and the clients are happy,” says Watt. He’s also finding that more and more clients are using audits to “drill down” into standard operating procedures. Auditors, he says, are more and more concerned about internal quality control, and procedure adherence. That’s mainly due to an increase in the need for corporate governance in all corporate structures. In many cases, private companies need the same level of accountability as publicly traded companies or REITs. “The amount of scrutiny on internal operating procedures is way higher than what we have experienced in the past. These sorts of tools help us to get through this process efficiently.”

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THE DMS GROUP CORPORATE STRUCTURE A COMPARISON

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• 16 Million Square Feet under management • 14,750 units • 321 staff

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Since DMS manages properties for a wide range of clients, it’s meant that they must meet the needs of a wide range of auditors. Since each auditor has a different approach, having accurate, easy to read statements is essential to both the audit process and retaining clients. “A large measure of our success is what the client’s auditor says about us,” says Watt.

Supplier Qualification While the transfer to electronic purchase orders has worked well, there has been less success in creating electronic invoices. In general, says Smith, suppliers are still in the paper world when it comes to sending an invoice. “I don’t think that will change overnight,” he says adding that many suppliers are small contractors who are used to using paper invoices. They have, however, been able to use their electronic database to improve the process of supplier qualifications. DMS requires that all suppliers meet certain minimum requirements. They include proof of general liability insurance and verification that they are registered with WSIB. These documents, along with other general condition documents, must be filed with DMS before any contractor or supplier can be approved. The documentation is then filed on the DMS supplier database. In order to ensure that all supplier qualifications are up-todate, they have tied the supplier qualification documents into the company’s electronic purchasing system. If a document is missing or has expired, a purchase order can’t be issued. “We have over 400 suppliers across the province and they all have to provide that documentation and provide updates to that documentation as it expires,” says Smith. Since the supplier qualifications are tied into the purchase order database, purchase orders can only be written for qualified contractors. While getting up-to-date information from suppliers can be difficult, Watt says it’s essential for the protection of landlords. If, for instance, a supplier does not have WSIB coverage and one of its employees is injured on the site, the liability could falls back to the landlord. “We take this seriously. We don’t want anyone on our properties who isn’t covered by WSIB,” says Watt. Since all the company’s properties are being managed on a third-party basis, Smith says that proper documentation is essential. “We tell our clients that these are the procedures we follow, these are the protections we put in place for both ourselves and our clients.” DMS has also been able to use the database to track other supplier information like contract expiry dates for landscaping and snow removal. Since all the information is on the database, all of the company’s managers have access to it and can easily track when contracts begin or end.

In-House Software Solutions

24 Canadian Apartment Magazine

While DMS and its employees have made a number of innovations and additions to the Yardi system, Smith is quick to point out that they are in the business of property management, not information technology or IT as it is often described. That’s meant that as much as possible they have tried to use off-the-

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“We’ve got to be cost competitive, so we’re always concerned about how much money we’re spending.”

self software and adapt it to their needs, rather than developing software in-house. Both Smith and Watt teach a course on managing IT needs in property management at the University of Toronto. “One of the gospels that we try to preach is enterprise-wide information solutions and finding commercial off-the-shelf software solutions that will satisfy your needs without having to do too much in-house development,” says Smith. But the reality is that you can only go so far with any commercial application. There comes a point, he says, where there is no commercially available product and it is only when that point is reached that a company should begin the process of in-house development. Since DMS has a wide-range of clients, they have often seen the effects of in-house software development. Often the property management division is forced to use a software package that is being used or developed by the rest of the organization. “We’ve seen lots of examples on our client side where they have spent million or perhaps tens of millions of dollars on applications that aren’t really very well suited to real estate. “We tried to choose applications that are specific to real estate and not move into these mega applications,” says Smith. “We’ve got to be cost competitive, so we’re always concerned about how much money we’re spending.” Another area where the partners have chosen to outsource their IT needs is in hardware and software management. Since the software is Web-based, all of the applications and data hosting is done outside the DMS offices. “We don’t have to worry about server crashes and backups. That’s all been outsourced,” says Smith. All of the company’s databases are housed at a data hosting service in California. 26 Canadian Apartment Magazine

They, in turn, have backup servers at other locations throughout North America. That means that there is no possibility that a client’s data would be lost if something happened at one of the DMS offices in Ontario or at any of the locations where data are stored. “Some of our clients, especially the government clients, ask for a risk management strategy on their data because we have all of their financial data on their buildings,” says Watt. “By outsourcing it to a professional data management house the chance of losing any of client’s data is slim and none.”

Internal Quality Assurance Another area where the system protects owners is through internal quality assurance. That means that safeguards built into the system make it difficult for any one person to approve something they are not allowed to authorize. “An employee who is out there doing their own thing, hiring services and committing to things without getting proper approvals - that’s a huge risk to any organization,” says Smith. “That’s a fear of any owner,” says Watt. “Who’s watching the store? Who’s making the decisions? That’s where financial reporting and auditing are so important. They have to know that their money is being managed professionally and they are getting an accurate reflection of what’s going on.” While both Smith and Watt are committed to using electronic databases to manage their client’s portfolio, they say few in the multi-residential industry are following their example. “We are hiring all the time and we’re involved with industry associations, so we have a pretty good feel for what’s going on in the industry, and we’ve not come across another company that’s developed an application like we have,” says Smith. CAM

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Housing Market Trends Impact the Rental Industry by Robert Helyar

It is no secret that the housing market in the United States is rapidly heading south. What does this mean for the Canadian market? Will there be a ripple effect? Although the Canadian market currently remains stable and has a positive outlook for the remainder of the year, these questions and more are being asked – not only by home buyers and sellers, but also by investors in other areas of real estate. Economists predict that Canada is likely to maintain a relatively healthy real estate market, particularly in the fastest growing regions of the nation. There are some suggestions that the Canadian downturn will be on a more moderate scale as interest rates in Canada were not hiked as much as in the United States. As well, mortgage financing has been more conservative and is not tax deductible as it is in the United States. That’s meant that Canadians have not been as aggressive in taking on debt. Also, affordability indexes, while climbing, are still at reasonable levels in most parts of Canada. While the U.S. housing market isn’t expected to recover until the third quarter of 2008 and the likelihood of a severe decline in the Canadian market as a whole is marginal, it is predicted that housing demand will shrink as home affordability deteriorates. There is a growing concern over the sustainability of recent trends given the recent declines in the U.S. and financial market volatility in both Canada and the U.S. Canadians are already contributing a higher percentage of their income to afford home ownership than in previous years. 28 Canadian Apartment Magazine

Traditionally, when residential mortgage rates climb, they are also likely to climb for other property types, including investment real estate. Higher mortgage rates affect net operating income after debt payments are made thus reducing the cash flow. If cash flow is reduced, the availability of extra money for maintenance and renovations is reduced, possibly leading to deterioration of the property. Buildings that are not maintained will have an increased vacancy rate while the maintained properties will have increased occupancy levels. Shrewd investors who are able to continue the required maintenance on their properties will be expanding the gap between the property classes. When house prices and mortgage rates increase, it typically has a positive impact on the rental market. A wildcard is the impact of the U.S. housing collapse on the U.S. economy. If the economy heads toward recession, then Canadian exports will be hit harder and the Canadian housing market may not have such a soft landing after all. CA M

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landlords and the law

Slow Progress to Current Value Assessment by Barbara Carss

Tax Caps and Clawbacks Continue to Skew Apportionment Property tax caps first introduced in 1998 to help ease the tax

shifts caused by current value assessment (CVA) continue to reward tens of thousands of Ontario’s commercial, industrial and multi-residential ratepayers with artificially low taxes. The caps have also become something of an inadvertent obstacle to the provincial government’s urban intensification goals since vacant land and surface parking lots are among the major beneficiaries of the policy. Rising property values could take the owners of some protected properties farther away from carrying their true allotment of the tax burden following the impending reassessment based on January 1, 2008 market values. Critics of the incremental phase-in of CVA-related tax shifts are concerned that reassessment could undo some of the recent progress toward harmonized CVA-level taxes. Chief among those critics are the property owners who have not received the full benefit of tax decreases attributable to CVA. Instead, municipal governments have had to appropriate those tax savings to balance the shortfall that occurs when capped properties contribute less than their share. “They work out how much revenue they’ve lost as a result of the caps and then they claw it back from the properties where taxes would otherwise go down. It’s an administrative nightmare. It’s difficult for municipalities to explain and they get a lot of backlash from angry taxpayers,” observes Peter Tomlinson, an economist, consultant and author of the Toronto Office Coalition’s 2006 study and recommendations on ways to achieve better property tax parity.

A MOVING TARGET Reassessment reshuffles the tax apportionment within a property class because individual properties gain (or lose) value to differing degrees. The variance from the average increase determines whether taxes go up or down. Properties protected with caps throw off the calculations, however. Taxes can only increase a specified percentage above the previous year’s level even though the property’s assessed value may have increased more than the average. In such cases, the capped taxes would actually move farther away from the intended CVA destination. “We take two steps forward and then we have a reassessment and it’s two steps back,” says Edward Hankins, Director of Policy, Risk & Treasury in York Region, where Regional Council recently adopted a motion calling for the phased elimination of the property tax caps and clawbacks 30 Canadian Apartment Magazine

by 2012. “If every property goes up 5% then the tax rate would be such that everyone would pay the same [proportionately], but that’s not what happens.” Most Ontario municipalities have consistently expressed dissatisfaction with the tax caps. “Capping was meant to be a transition tool, but it’s 10 years later and where are we? In order to sustain and maintain this regime there is a significant amount of cost both provincially and municipally, but, even more fundamentally, it is an equity issue.” Hankins says. “Equity, from our members’ point of view, generally means that people with the same CVA in the same property class should pay the same tax,” concurs Dan Cowin, Executive Director of the Municipal Finance Officers Association of Ontario.

ASSESSMENT BASE DISTORTIONS PLAGUE TORONTO Meanwhile, the City of Toronto is taking a more long-term approach. In 2006, Council implemented a 15-year plan to equalize and reduce the commercial, industrial and multiresidential tax rates down to 2.5 times the residential rate, while also phasing out capping. “Within 15 years we estimate that most of our properties will be at CVA,” says Adir Gupta, Manager of Corporate Finance for the City of Toronto. He argues that the extra time – 23 years, factoring in eight years of capping leading up to 2006 – is necessary because Toronto had not undergone a comprehensive reassessment since the 1940s prior to the introduction of CVA. “York had a more up-to-date assessment base so the assessed values prior to current value assessment were not as far out of date. The distribution in values between similar properties and between property classes is significantly greater in Toronto. Our starting point is much worse,” Gupta stresses. “Those distortions occurred over 60 years and they are not going to be solved in the City of Toronto overnight.” A recent report from a special taskforce appointed to study Toronto’s fiscal outlook makes no direct reference to the issue of tax caps and clawbacks, but its recommendation to shift more taxes onto the residential tax base could reduce the magnitude of revenue that has to be clawed back from other taxpayers to protect the capped properties. “As soon as you can lower the commercial tax rate, it reduces the costs of capping,” Tomlinson notes. Nor is Toronto necessarily the only municipality where that strategy could apply. “We have 4.2 million properties in the province of Ontario. About 33% of the taxes generated

should be coming from residential, but we’re only getting 22% from residential,” reports David Gibson, Executive Vice President with Altus Group Limited, one of Canada’s largest tax consultancies. “That tells us, in reality, that taxes for residential are not high enough.”

MISPLACED PROTECTION Policies introduced in 2005 provincial legislation have accelerated progress to unified CVA-level taxes to some extent. Previously, allowable yearly tax increases for protected properties were restricted to no more than 5% above the 1997-level taxes. “Under that formula, there were 108 properties in Durham that would have taken more than 100 years get to CVA and one property that would taken 3,000 years,” notes Dana Howes, Senior Economic Analyst in Durham Region. Since 2005, municipalities can choose one of two options for imposing gradual tax increases – either 10% of the previous year’s taxes, or 5% of the CVA-level taxes for the property. Most municipalities have adopted the 10% option, with Toronto choosing to increase taxes each year by 5% of the CVA-level taxes. In York Region, approximately 16% of commercial/industrial/multi-residential properties are still capped. In 2007 that translated into $14.5 million that had to be clawed back from other property taxpayers – many who were owners of small to medium-sized businesses. In contrast, regional analysis shows that commercial condominiums, railway buildings and lands, and vacant commercial and industrial lands number predominantly among capped properties. “For a lot of municipalities, it’s not the smaller owners who are getting the big protection,” Hankins says.

PHASED ASSESMENT INCREASES Other changes to be introduced in tandem with the upcoming reassessment are creating further uncertainty. Notably, the 2007 Ontario budget pledged to phase in assessment increases on residential properties over the four years of the assessment cycle, while the recent 2008 budget extended that promise to commercial, industrial and multi-residential properties. There are

few implementation details yet, but the earlier 2007 commitment has sparked some questions and concerns. “There are going to be some interesting implications from running two different tax mitigation systems for different types of properties – residential and non-residential,” Cowin predicts. “The interaction between the two and how they can affect each other, we don’t really know yet.” York Region advocates a four-year phase-in of assessment increases for nonresidential properties as a replacement

for the protection that property tax caps have provided. However, thus far there is no indication that the Province intends to eliminate the caps. “It is hard to imagine layering caps and clawbacks on top of the phased assessment increases, but it could be done – at least through a transition period,” Tomlinson muses. CA M

The preceding article is excerpted from Canadian Property Management, March 2008.

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property management

Backflow Prevention Doesn’t Have to be a Headache by Paul Abrams

Many cities and municipalities now require annual backflow inspections. A properly installed prevention device can solve any problems. If you’re not yet familiar with the term “backflow prevention” as

it relates to plumbing, you probably will be very soon. Shortages of fresh, potable water are causing many municipalities to get serious about protecting their water supplies from the dangers of backflow. What is this latest menace to society? Consider that your potable water supply, which arrives at your home and business via municipal water pipes, flows under pressure in one direction from the meter to the dwelling. Under certain circumstances, water can flow in the opposite direction. That’s a no-no and it is called “backflow.” To put it in simplest terms, think of a garden hose connected at one end to a hose bib on the side of a building and the other end submerged underwater while filling a swimming pool. In the event of a loss of forward pressure from the city water supply, water from the swimming pool could be siphoned backward into the city water supply causing chlorine, fecal matter and other hazardous substances to flow into the drinking water supply. Municipal plumbing inspectors are doing their best to find and eliminate “cross connections” from the grid. A cross connection is any plumbing connection between pipes that carry drinking water and pipes that carry non-potable water. Good examples include steam pipes, boilers and irrigation systems. Ideally, never the two types of water shall meet! But when they do, the risk of contamination is substantial. What this all means is that most cities or municipalities now require annual backflow inspections and certifications for all

32 Canadian Apartment Magazine

businesses. Industrial and commercial establishments tend to use more water than residential customers so they face the greatest scrutiny. At the same time new home construction is subject to tighter plumbing codes requiring backflow prevention devices that will, over time, substantially lessen the contamination risk from homes. What happens if an inspection reveals a backflow problem at your place of business? Most municipal codes will require the installation of a backflow assembly device or “backflow prevention device” at each cross connection point found within your plumbing system. The type of backflow prevention required will be in-line with the degree of hazard present on the premises. These devices most commonly consist of a pair of mechanical check valves that will prevent water from flowing back into the water supply. Others use air gap separations, which create a physical break between the supply pipe and the receiving tank. A third type is called reduced pressure principle assembly. This type contains multiple check valves but it is also equipped with a bypass detector that allows visual inspection of liquid flow. The cost of these units varies depending on your system and the extent of the backflow problem. But, by in large, many of the simplest backflow prevention devices cost well under a hundred dollars. There are several things that can cause backflow. Backpressure and backsiphonage are primary culprits. “Backpressure” occurs when a drinking water system is connected to another system, such as a boiler or auxiliary water pump, operating at higher

pressure. Even tall buildings can cause backpressure on a water main since water must be pumped to the highest floors. If the pump fails, gravity contributes significant downward or negative pressure on a water main. If the pressure of the secondary system is greater than that of the municipal water supply, it will force water backward into the municipal water supply unless the cross connection is equipped with a backflow prevention device. “Backsiphonage” is caused by negative or reduced pressure in the supply line. This may occur after a water main break, water main maintenance or if there is an open fire hydrant nearby. We’ve all seen those “boil water advisories” on the local news in the wake of a water main break, now you know that it is backsiphonage that causes such concern. A certified backflow prevention mechanic should be the only person to install your backflow prevention devices. Your first step in finding such an expert is to contact a good licensed plumbing contractor. Check their Yellow Pages ad or ask if they offer backflow inspections. Be sure to get assurances that they are experienced at installing and maintaining all types of commercial backflow prevention devices. Make sure the person doing the work is in fact a certified backflow mechanic, and make certain that the backflow devices conform to all applicable plumbing codes. Some municipalities conduct all backflow inspections themselves and prohibit outside contractors from getting

involved. However, most local water authorities simply set up certification guidelines and leave it to you to hire someone to complete the task. Inspections typically take about an hour and can cost as little as $60 or as much as a few hundred dollars depending on many variables. In most cases a knowledgeable full-service plumbing contractor will be able to quickly and reliably solve your backflow problems. Some will even schedule an annual inspection of your place of business and submit the finished inspection paperwork to the local authorities on your behalf. In the event that your facility fails a backflow inspection, a good contractor can quickly make all necessary repairs and keep your business in good standing with the local water authority. Considering that municipalities can and will shut off your water supply if backflow inspections aren’t completed on time, hiring a good certified backflow prevention mechanic to handle the task leaves one less thing for a manager to worry about. CAM

Paul Abrams is the public relations manager for Roto-Rooter Services Company. For more information, contact Stanley J. Collini, the owner and operator of Roto Rooter Plumbing and Drain Service in Toronto. To contact Stanley, visit www. rotorooter.com or call him at 416-503-4444.

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regulations

Ontario May Require Sprinklers in New High-Rise Buildings The Ontario government is considering revising its building code to require sprinkler systems in all new residential highrises in the province. Earlier this year the government announced that it would begin a consultation and public information process on proposed changes to the Building Code that would require fire sprinkler systems in newly constructed multiple-unit residential buildings higher than three storeys. Jim Watson, Minister of Municipal Affairs and Housing said the government will consider the comments, ideas and concerns received through the consultations before finalizing any amendments to the Building Code. Over a ten-year period between 1997 and 2006, 103 people died in these types of multi-unit residential building fires. A public consultation paper is available on the Building Code website of the Ministry of Municipal Affairs and Housing at http://www.ontario.ca/buildingcode. Interested parties will have until May 1, 2008 to submit comments. Public information sessions will be held in late March and early April. The locations and dates of the information sessions will be posted on the Building Code website and on the Ministry of Community Safety and Correctional Services, Office of the Fire Marshal website at www.ofm.gov.on.ca.

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34 Canadian Apartment Magazine

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VOLUME 5 / NUMBER 1 / APRIL/May 2008

DMS Aims to Eliminate Paperwork The Truth About Stats

Collecting Rent Electronically Subsidized Housing a Source for Energy Savings FIVE YEAR ANNIVERSARY ISSUE