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PROPERTY MANAGERS’ SOURCE BOOK

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Publisher and general manager: Lara Graham

Editor-in-chief: Tyler Orton

Contributors: Howard Chai, Mike Howell, John Kurucz

Production: Amir Shahrestani

Research: Tiffany Chu

Photography: Chung Chow, Rob Kruyt

Advertising sales: Alison Clay, Arlene Grant-Wotzke, Vivian Hung, Tanya Kalra, Collin Neal, Pariya Tari, Michelle

Van Der Westhuizen

Sales and account coordinator: Karen Ngan

Proper ty Managers’ Source Book is published by Business in Vancouver Magazines, a division of BIV Media Group

303 West 5th Avenue, Vancouver, B C , V5Y 1J6 P: 604-688-2398, F: 604-688-6058 | biv com

BIV Media Group also publishes Business in Vancouver newspaper and biv com

Copyright 2026, Property Managers’ Source Book All rights reserved No part of this book may be reproduced in any form or incorporated into any information-retrieval system without permission of Property Managers’ Source Book. The list of services provided in this publication is not necessarily a complete list of all such services available in the Lower Mainland The publishers are not responsible in whole or in part for any errors or omissions in this publication

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TRENDS

PROPERTY MANAGEMENT FACES

A DOUBLE SQUEEZE IN 2026

More vacant units meet fewer qualified managers across Metro Vancouver

BY JOHN KURUCZ

Whether it’s return on investment, occupancy levels or repair estimates, property management has always been a numbers game.

But recently released figures for 2026 will inevitably force the industry to pivot and rethink how those numbers work. These new realities centre around

two recent phenomena: the highest vacancy rates seen in three decades and a generational decline in the sheer number of property managers across the region.

The Canada Mortgage and Housing Corporation recently released its 2025 Rental Market report, a document that suggests Metro Vancouver’s vacancy rate

Property managers are facing higher vacancies and looming retirements. | ROB KRUYT

more than doubled from 1.6 per cent to 3.7 per cent. Meanwhile, the capital region’s vacancy levels jumped to 3.3 per cent, the highest seen since 1999.

According to LandlordBC’s Hunter Boucher, that rise in vacancy inevitably gives tenants more choice, and in turn, higher expectations.

“Tenants are comparing buildings more closely, asking more questions and walking away faster if something doesn’t feel right,” says Boucher, who serves as LandlordBC’s vice-president of operations. “Cleanliness, maintenance response times, communication quality and overall professionalism are becoming deciding factors.”

Those new elements at play will likely leave property managers feeling increased pressure to not only compete on price, but on experience. A unit that’s deemed not good enough on paper may still sit vacant if the showing experience, follow-up or first impression fall short.

Boucher also points to a rising level of scrutiny around who is considered the landlord and who bears liability. He maintains that property managers need to ensure tenant agreements identify the owner as the landlord and themselves as agents of the landlord.

“Property managers can expect more disputes where they are pulled in simply because their name is on paperwork,” Boucher says.

Meanwhile, a report from the Real Estate Institute of Canada released in May 2025 points to a tidal wave of turnover in the profession.

Some key takeaways include:

• Nearly 49 per cent of current property managers are over the age of 50.

• Roughly 26,000 job openings are projected in the sector by 2033.

• Almost 70 of those openings will be due to retirement.

BIV contacted NAIOP Vancouver for comment on those gaps and was referred

TRENDS

to Aaron Burry of Avison Young, one of NAIOP Vancouver’s top-level sponsors.

Though Burry didn’t have statistics for the commercial sector, he suggests the dearth of property managers on the residential side likely sits somewhere around 500. They are numbers that have been on the decline for at least five years.

To turn that tide, Burry suggests an industry-wide push to up its presence at career and trade fares and post-secondary campuses.

And given the huge transformation underway with Vancouver’s Broadway Plan, let alone the myriad construction cranes dotting the Metro Vancouver skyline, Burry underscores how the profession will offer job security for decades to come.

“Because real estate’s such a big part of the economy here, there is a great opportunity for people to have an excellent profession, day in and day out,” he says. “And there’s a lot of different things in property management that opens doors to other aspects of the real estate industry.”

Aaron Burry of Avison Young leads Western Canada’s client and asset advisory services. | ROB KRUYT

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TIPS

HUMAN EDGE

In a people-first business, likability, judgment and trust matter even more

BY JOHN KURUCZ

Consider the myriad of variables that separates a property manager earning $80,000 annually to another who commands north of $150,000. The seemingly obvious factors would perhaps point to time spent in the postsecondary ranks or the lived experiences spent on the job. And there is, of course, a need to understand the mechanics of

Canadian real estate and the realities of life in management.

Those are all a given.

But intangibles that are universal across virtually every sector often rule the day in property management: dress the part, make eye contact, remember names and ensure trust.

All of which is to say that for a job that

Vancouver offers property management programs at UBC and Langara College, which can serve as ideal launching points for those looking to get into the business. | ROB KRUYT

TIPS

is inherently focused on human relations, you have to employ intrinsic, human traits.

“It’s well documented that people do business with people they like, yet few people actually do anything about being more likable,” says Ben Raps, CEO and principal with Taurus Commercial Real Estate Services Ltd. “Show me a director of property management at one of the big firms and I’ll show you someone who is well

liked, charming, conscientious and kind.”

While examining the top trends for property managers in 2026, BIV reached out to NAIOP Vancouver and was connected with Taurus’ Raps and Avison Young’s Constantin Negrut. Both firms are top-level sponsors with NAIOP Vancouver.

And in keeping with that theme of a human touch, Raps notes that client management is one of the highest returnon-investment tasks a project management firm takes on. The highest-paid project

managers are those who can build trust with the firm’s most important clients.

It’s a relationship that depends upon showing irrefutable evidence to a client that care is always front and centre, which is not done by accident.

What does that mean day over day?

“You have to do the hard things,” Raps says. “Property management is full of unpleasant tasks, and it’s human nature to avoid these. Showing you do these things, with no one asking, builds massive trust.”

For Negrut, those who excel in the field are often akin to a lawyer, journalist or even a chess master–they are constantly asking questions, while assessing new data and information. It’s also a profession that leans on self-reflection, forcing property managers to continually ask themselves, “What do I know, what don’t I know and how do I find those answers?”

“I think that’s where some people fall apart, in that they don’t realize the breadth of information that you’re expected to know on a day-in, day-out basis,” says Negrut, Avison Young’s general manager of property management for B.C. “You’ve got to know how to read a financial statement, but you also need to understand mechanical systems, or how leases and regulations work.”

Getting that requisite experience can come by way of training in the classroom or directly on the job. Negrut points to property management programs offered at UBC or Langara College as ideal launching points. He also advises prospective managers to take a leap of faith–reaching out to those already in the field and asking for advice on how to get a foothold in the industry.

“There are huge opportunities out there right now for people who choose to take this on as a profession and grow with the industry,” Negrut says. 

Avison Young’s Constantin Negrut serves as general manager of property management for B.C. | ROB KRUYT

Canada’s

BIGGEST COMMERCIAL PROPERTY MANAGERS IN B.C.

Ranked by total commercial square footage managed in B.C.

RANKED BY | Total commercial square footage managed

Rank '25 Company Top local executive(s)

Warrington PCI Management

1030 Georgia St W Suite 300, Vancouver V6E 2Y3

P:604-602-1887 F: 604-688-2328 warringtonpci.com

2 Beedie

3rd Floor, 6051 Silver Drive, Burnaby V5H 4L6 P:604-435-3321

F: 604-432-7349 beedie.ca

3 Colliers

1066 Hastings St W Suite 2300, Vancouver V6E 3X1

P:604-681-4111 F: 604-681-2911 collierscanada.com

BentallGreenOak (Canada) LP

550 Burrard St Suite 1008, Vancouver V6C 2B5

P:604-661-5000 F: NP bgo.com

Transpacific Realty Advisors

4300 North Fraser Way Unit 203, Burnaby V5J 0B3

P:604-873-8591 F: 604-873-8876 www.transpacificrealty.com

Avison Young Real Estate Management Services LP 1055 Georgia St W Suite 2900, Vancouver V6E 3P3

P:604-687-7331 F: 604-687-0031 avisonyoung.com

Dorset Realty Group

10451 Shellbridge Way Suite 230, Richmond V6X 2W8

P:604-270-1711 F: NP dorsetrealty.com

8 JLL

510 Georgia St W Suite 2150, Vancouver V6B 0M3

P:604-998-6001 F: 604-998-6018 jll.ca

GWL Realty Advisors Inc

650 Georgia St W Suite 1600, Vancouver V6B 4N7

P:604-713-6450 F: 604-683-3264 gwlrealtyadvisors.com

Shape Property Management Corp

505 Burrard St Suite 2020, Vancouver V7X 1M6

P:604-681-2358 F: 604-681-2378 shapeproperties.com

Adam Spear, president

Jennifer Woolley, vice-president, corporate operations

Justin Deknatel, senior vice president, property management Lorna Park, senior vice-president, property management

Ryan Beedie, president

Lesley Heieis, vice-president and managing broker

Dion Chrapko, vice-president, real estate management

Devinder Gill, managing partner

Tony Astles, managing partner and head of Canadian real estate services

Rod Fram, president

Shirleen Weng, controller Josephine Chi, senior property manager, team lead Trevor McLelland, controller

Aaron Burry, principal, client and asset advisory services Western Canada

Damien Roussin, president and CEO

Kim Schuss, vice-president, property management Colin Schuss, vice-president, leasing and sales

Charles Fleck, vice-president, retail property managment, B.C. Kathryn Ireland, property director, office and industrial Denis Pelletier, vice-president, retail portfolio

Robert Kavanagh, senior vice-president, asset management, Western Canada

John Horton, president and CEO

Sources: Interviews with above firms and BIV research. Other firms may have ranked but did not respond to information requests by deadline. NP Not provided 1 - 2024 figure 2 - BIV estimate

managers in B.C.

managed in B.C.

Amazon, Sobeys, McKesson, BMW, Saputo, Aritzia, Costco, Mazda, Kruger, and Leon's.

in Vancouver makes every attempt to publish accurate information in the List,

OFFICE SQUEEZE

SkyTrain access fuels demand for nearby offices

BY HOWARD CHAI

Employees are generally not against returning to the office because they dislike offices, what they dislike is the commute to the office. Somebody who lives in Surrey, for example, could potentially need an hour to get to Vancouver’s downtown core, even taking the SkyTrain. This makes Burnaby, at the geographic centre of Metro Vancouver between Vancouver and Surrey while also sharing borders with Coquitlam and New Westminster, a particularly interesting

office market.

The central location is underscored by the Metro Vancouver Regional District locating its offices in the city, but additional office space is required to ensure employers continue to locate in Burnaby.

The third largest city in B.C., Burnaby anticipates ongoing population growth of 1.5 per cent a year resulting in an additional 109,000 new residents by 2050. The City of Burnaby’s Employment Land Needs Assessment, published last year, identified

The Brentwood area offers transit-oriented office space in Burnaby. | ROB KRUYT

a need for 22 million square feet of new jobs space by 2051, including 3.2 million square feet of office space.

While the amount of new office space needed is less than the square footage projected for industrial (8.2 million), institutional (6.5 million) or retail (4.3 million) space, it’s significant in terms of jobs supported.

Broken down by projected employment growth, that 3.2 million of office space would facilitate 22,723 new jobs, which is more than retail (21,213), institutional (10,950), and industrial (9,620), indicating that office space may be the most critical.

In an emailed statement, Burnaby Board of Trade president and CEO Angie Whitfield told Western Investor that Burnaby is home to about 11 per cent of all employment in Metro Vancouver and “one of the most diverse and resilient local economies in the region.”

“The greatest need is for high-quality, transit-oriented office space in our town centres, particularly in Metrotown, Brentwood, Lougheed and Edmonds,” she said.

Those nodes in Burnaby are known for their high-rise residential development and sprawling multi-tower master-planned projects — there are over a dozen currently in the works — and residential development is closely related to office development in Burnaby, more so than in Vancouver.

According to an analysis conducted by Colliers’ Vancouver-based research director Susan Thompson for Western Investor, 20 per cent of office properties (11 out of 55) added to the Vancouver market this past decade with more than 20,000 square feet of office space apiece were delivered as part of mixed-use residential projects, like The Stories by PCI Group, which was completed earlier this year.

Burnaby has a smaller sample size, due to it being a suburban market, but the contrast is nonetheless stark as 12 out of 15 (80 per cent) of office properties with over 20,000 square feet of office space added this past decade were delivered as part of mixed-use residential projects, such as Station Square in

Metrotown and Solo District in Brentwood.

Due to Burnaby’s policies regarding housing development, it is also rare to see full purpose-built rental buildings, and most of the new rental housing in Burnaby is delivered via replacement requirements for condo projects. With the condo market drying up, few new projects are moving forward, which means the pipeline of new office space is also shrinking.

“That could potentially push you into a situation where no new office space is being built in some of these nodes, because it’s tied to these mixed-use projects,” said Thompson. “There’s always the risk, especially now with the slowdown in development, that if you don’t build it now, you may not have it there in the future.”

Furthermore, many projects currently underway in Burnaby that were set to include office space have also been revised in various ways.

In Metrotown, the previously planned office podiums at Citizen by Anthem Properties and at Highline by Thind Properties are both pivoting to hotel. Office space has also been cut from the second phase of Gilmore Place in Brentwood by Onni Group and reduced at Pinnacle International’s project in Lougheed. These four revisions alone have eliminated approximately 1.5 million square feet of office space from Burnaby’s pipeline — nearly half of the City’s 2051 target.

It’s unfortunate, because Burnaby has a lot going for it. While the big national or global companies typically choose Vancouver, medium and smaller companies could really benefit from being in Burnaby.

“While Vancouver often gets the spotlight, Burnaby supports a wide range of sectors, making it a dynamic and vital hub in Metro Vancouver’s economy,” said Whitfield. “The result is a highly entrepreneurial, talentdriven business community that reflects Burnaby’s role as both an innovation hub and a practical place to scale.”

But if new office space isn’t built, who will come? 

POLICY

PROPERTY PROBLEMS

Vancouver cracks down on dangerous vacant buildings

Dunsmuir House at 500 Dunsmuir St. was left abandoned prior to its demolition in January 2025. | BRENDAN KERGIN

POLICY

BY MIKE HOWELL

AVancouver city staff analysis conducted in connection with the creation of a new bylaw to address safety concerns over unoccupied buildings has identified at least 50 “problematic properties” that need to be addressed by city departments.

The location of the buildings and the state of them are not listed in the staff report that went before council in December 2025. But staff said they would benefit from a coordinated response to prevent them from falling into further disrepair.

“Some of these buildings pose substantial risks to public safety and health, including infestations, compromised structural integrity, faulty electrical and plumbing systems, increased fire hazards, and the potential to attract illegal activity or unauthorized occupancy,” the report said.

“When left unmanaged, they also place a significant burden on city resources while removing housing stock and delaying redevelopment.”

‘REPEATED ISSUES’

Gurv Brar, the city’s director of corporate services and program management, told council in December that the 50 buildings were identified because of “repeated issues” flagged by the Vancouver Police Department, Vancouver Fire and Rescue Services and the city’s development, building and licensing department.

“So those would be a focus point for staff to now follow up a bit more proactively to ensure that they are being managed,” said Brar, noting the additional “tools” in the new abandoned and vacated buildings

POLICY

bylaw would help enforce minimum standards in unoccupied buildings.

Despite staff’s research, council heard that the city still does not have a single depository of data for unoccupied buildings in Vancouver. Such a depository is a work in progress, which requires compiling information from various departments, including public complaints to the city’s 3-1-1 service.

Corrie Okell, the city’s general manager of development, buildings and licensing, said responses to concerns about these properties vary depending on the nature of the issue, noting departments and agencies handle and track them in different ways.

“Staff will continue collaborating with other agencies to improve information

sharing and co-ordination regarding vacated properties in Vancouver,” Okell said. “Over time, this effort will support the creation of a comprehensive inventory of vacated buildings.”

DUNSMUIR HOUSE DEMOLITION

The new bylaw was inspired by the loss of the 1908-era Dunsmuir House building to demolition in January 2025. Staff approved the building’s demolition after hearing a presentation from Saul Schwebs, the city’s chief building official.

At the time, Schwebs told council of the urgent need to knock down the former hotel, citing numerous concerns about

The demolition of the Dunsmuir House at 500 Dunsmuir St. in January 2025 triggered council to direct staff to draft a new bylaw aimed at addressing safety concerns over abandoned and vacated buildings. | BRENDAN KERGIN

the deteriorating structure, including its imminent collapse.

His presentation triggered council to direct staff to consider an inventory of unoccupied buildings, a monitoring process, taxation options and a standards of maintenance bylaw for such buildings.

The staff report said a review was conducted of current bylaws, policies and operations related to vacated buildings in Vancouver and identified opportunities to clarify, consolidate and strengthen existing regulations.

The report said the aim of the new bylaw is to “enhance and streamline” the city’s regulatory approach to vacated buildings by creating one bylaw to address the safety, health and fire risks in vacated buildings.

“These standards will be specific to unoccupied buildings, and less onerous than those established for buildings intended for occupancy,” the report said.

The bylaw does not replace existing bylaws such as the standards of maintenance bylaw or untidy premises bylaw, but will focus on minimum safety standards and enforcement tools specific to vacated buildings.

COURT-IMPOSED FINES

OF $50,000

Enforcement tools include warning letters, compliance orders, violation notices, tickets that come with a fine of up to $3,000 and court-imposed fines that could reach $50,000.

Inspection fees ranging from $270-455 are also included in the bylaw.

The new bylaw requires property owners to:

• Maintain the roof and building envelope.

• Keep property free of pests and clean, free of rubbish or materials except for materials for immediate use in the construction or repair of a building.

POLICY

• Maintain fire alarm and sprinkler systems in good working order to address the risk of fire due to activities including unauthorized entry and faulty electrical systems.

• Secure vacated buildings against unauthorized entry, either by closing and locking all access points and/ or installing structural barriers, including covering/boarding up entrance points and/or fencing.

• Maintain address visibility to help first responders identify the property when called to respond to an incident.

• Disconnect utilities except where the water supply is required for a fire suppression system and/or the gas and electrical system is used for heating or maintaining fire or life safety systems, active fire monitoring system and/or security lighting.

‘PROPERTY TAX ROLL’

The bylaw clarifies the responsibilities of both property owners and property managers in maintaining and managing vacated buildings. Owners are primarily accountable for ensuring compliance with all bylaw requirements.

But when the city is unable to contact the owner after reasonable efforts, a property manager may also be made responsible to comply with the bylaw.

“However, the owner carries the financial responsibility for work completed by the city or city contractor and any associated administrative fees,” the report said. “This approach allows the city to add these costs to the property tax roll, if unpaid by the owner.”

Council was unanimous in approving the new bylaw. 

ASSOCIATIONS

Directory of associations that can support B.C.’s property managers

AMERICAN SOCIETY OF HEATING, REFRIGERATING AND AIR-CONDITIONING ENGINEERS (ASHRAE), B.C. CHAPTER 800-527-4723 • ashraebc.com

Mandate: To advance the arts and sciences of heating, refrigerating, air conditioning and ventilation

Member Benefits: Handbook series, bookstore discounts, networking, knowledge, members-only website. Who may join: Anyone involved in the heating, refrigerating and air-conditioning industry, as well as interested

BUILDING OFFICIALS’ ASSOCIATION OF BC (BOABC) 10451 Shellbridge Way, Suite 145, Richmond, B.C. V6X 2W8, 604-270-9516 • info@boabc.org • boabc.org

Mandate: To move forward with the highest standards in professionalism, competency and consistent practice in the building community.

Member Benefits: Networking, educational programs, certification examinations. Who may join: Local government building officials and those involved in building design, construction, testing and research.

Property managers in B.C. have access to a wide variety of associations that can help support their work. | ROB KRUYT

BUILDING OWNERS AND MANAGERS ASSOCIATION OF BC (BOMA BC)

409 Granville Street, Suite 556, Vancouver, B.C. V6C 1T2, 604-684-3916 • bomabc@boma.bc.ca • boma.bc.ca

Mandate: To help foster a favourable business environment for the commercial real estate industry and facilitate the delivery of valued services for members.

Member Benefits: Monthly luncheons with keynote speakers, special events, seminars, workshops, professional certification programs; reports, industry surveys and leasing guides; news and notices; networking opportunities; membership directory inclusion; environmental and other programs.

Who may join: Firms and individuals that own, manage, plan, develop, market or lease office buildings, institutions, government agencies, facilities, retail centres and industrial parks, as well as suppliers and professional service companies that cater to the building industry.

CONDOMINIUM HOME OWNERS ASSOCIATION OF BC (CHOA)

65 Richmond Street, Suite 200, New Westminster, B.C. V3L 5P5, 604-584-2462 • info@choa.bc.ca • choa.bc.ca

Mandate: To promote understanding of strata-property living and the interests of strata-property owners.

Member Benefits: Advisory services, bulletins, education, CHOA Journal and other publications, resources, seminars and workshops at reduced member costs.

Who may join: Strata corporations, individual owners, businesses that serve the strata industry, strata-related associations and governmental agencies across B.C.

LANDLORDBC

1847 West Broadway, Suite 203, Vancouver, B.C. V6J 1Y6, 604-733-9440 • info@landlordbc.ca • landlordbc.ca

Mandate: To provide support and resources for owners and managers of rental housing.

Member Benefits: Education, advocacy, group programs, proprietary tenancy forms, online tools to manage and market properties, networking opportunities and operational advice.

Who may join: Owners of all forms of rental housing, from high-rise buildings to investment condos to secondary suites.

NAIOP, VANCOUVER CHAPTER

1618 Station Street, Vancouver, B.C. V6A 1B6, 604-601-5106 • office@naiopvcr.com • naiopvcr.com

Mandate: To provide advocacy, education and business opportunities for members and sponsors, and connect the Vancouver CRE community to NAIOP’s North American network.

Member Benefits: Professional development through educational programs, networking opportunities, online resources and discounted rates for paid events.

Who may join: Commercial real estate developers; owners and investors of office, industrial, retail and mixeduse properties; members of industries allied to commercial real estate.

PROFESSIONAL ASSOCIATION OF MANAGING AGENTS (PAMA)

2025 West 42nd Avenue, Suite 340, Vancouver, B.C. V6M 2B5, 604-267-0476 • admin@pama.ca • pama.ca

Mandate: To uphold and maintain high professional, ethical and educational standards within residential property management, and to promote and represent the industry in dealings with legislative and governmental bodies.

Member Benefits: Lunches, special events and seminars with industry speakers, continuing professional education opportunities, news on topical issues.

Who may join: Licensed property management companies, individual licensed property managers and a limited number of support-service companies.

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