Property Management in Canada
The Property Management industry provides a variety of services related to the management of residential and nonresidential properties, including apartments, industrial facilities, office towers and retail spaces. These services include collecting rent, screening tenants and scheduling maintenance. With its heavy reliance on business conditions and residential and nonresidential development, the industry contended with a slowdown at the height of the recession, as the US collapse in property prices finally made its way north to Canada. However, property managers persevered through the economic downturn, with construction markets improving early on during the five years to 2017 and leading to increased revenue for the five-year period. In recent years, however, revenue growth has slowed due to fears of a property bubble that have been made worse by extremely high consumer debt that poses a risk to financial stability. Over the next five years, revenue growth is expected to decelerate as residential construction across Canada slows due to ongoing fears of high consumer debt levels.
This industry manages residential and nonresidential real estate for others. Property management responsibilities relate to the overall operation of the property, including maintenance, rent collection, trash removal, security and some renovation activities. Operators may also help manage a property’s accounting, but processes relating to the transactions of properties or real estate investments are not included in this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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