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regional edition

OTTAWA

The regional market perspective for the Ottawa rental housing industry


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theANNUAL Ottawa – 1


FOREWORD

Produced by RHB Inc., creators of RHB Magazine, RHB Newsreel, RHB TV, Perpetual Media Group (PMG) and Boldtv and in collaboration with the Canadian Federation of Apartment Associations (CFAA), theANNUAL delivers a complete market perspective for the rental housing industries of Ottawa, Hamilton, Waterloo and London. Developing a standalone resource guide with vital and practical information is never an easy undertaking. There are reasons why in-depth analysis and forecasting isn’t done in this form and on this scale for our industry! Time, resources and industry knowledge are required to deliver a comprehensive report respecting individual regional apartment owners and managers while allowing them to respond to market needs, size and competition. What you'll find in theANNUAL Regional Editions is: •

The State of the Industry Report, an in-depth look at the individual cities’ market conditions, based on CMHC and Stats Canada data.

Realty Check, a look at multi-family sales and purchases in each of the four regional markets, with a special showcase of notable transactions and analysis from industry experts.

2 – theANNUAL Ottawa

• •

Association Report, from our friends at HDAA, LPMA, WRAMA and EOLO, an overview of what we need to know about each city and association. Hot Neighbourhoods, information and stats you need to know showing what makes them hot! Legislation, which this year is Joe Hoffer’s take on Ontario’s new rental legislation. Five Things You Should Know, some interesting tips and tools for managing the physical elements of your buildings. The industry’s first vetted report of the Top Owners, Managers and REITs for each area.

This has been a labour of love. As Canada's national voice for the apartment industry, RHB Inc. prides itself on always delivering the latest news and information that helps our industry maintain a competitive advantage. Therefore, we'd like to acknowledge the following people and companies for their help gathering the information and data which enabled us to deliver this comprehensive guide: John Dickie, CFAA and EOLO; Arun Pathak, HDAA; Lisa Smith, LPMA; Andrew Macallum, WRAMA; Mike Milovick, Royal LePage - Grand Valley Realty; David Montressor, CBRE Limited – National Apartment Group; and Brenda Davidson, Keller Williams – Lifestyles Realty. RHB Inc accepts responsibility for accurately delivering relevant news to the rental housing industry. As well, we always want to hear from you, the people who make up the rental housing industry. Let us know your thoughts on what you've read and what you'd want to see next year in theANNUAL, both at the National and Regional levels. All the best, Debbie Dollar-Seldon Associate Publisher

Co-Founder, Principal Marc Côté Co-Founder, Principal Juan Malvestitti Associate Publisher Debbie Dollar-Seldon Contributing Editor John Dickie, President CFAA Director of Sales Nishant Rai Regional Sales Executive Ranjna Bhardwaj Office Manager Geeta Lokhram Design Wendy Tabor

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Opinions expressed in articles are those of the authors and do not necessarily reflect the views and opinions of the CFAA Board or management. CFAA and RHB Inc. Accept no liability for information contained herein. All rights reserved. Contents may not be reproduced without the written permission from the publisher. P.O. Box 696, Maple, ON L6A 1S7 416-236-7473 Produced in Canada All contents copyright © RHB Inc. Canadian Publications Mail Product

INC.

Welcome to the inaugural Regional editions of theANNUAL. The National edition of theANNUAL, now in its fourth year, is a special, industry specific periodical, delivering relevant, timely information and data with a single minded approach; "What the rental housing industry needs to know!” With that as our goal, our research team reviewed extensive data from numerous sources to bring you the regional editions of theANNUAL. From CMHC, Stats Canada, association executives, Government sources and apartment owners, managers & REITs, we bring you the most complete and thorough industry guide that delivers regional specific information and data.

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altusgroup.com | info@altusgroup.com theANNUAL Ottawa – 3


Table of Contents

2 – Foreword

State of the Industry – 8

15 – Realty Check

Association Report – 21

4 – theANNUAL Ottawa


theANNUAL Ottawa – 5


Table of Contents

29 – Hot Neighbourhoods

Top 10 – 35

47 – Rental Legislation

5 things you should know – 55

6 – theANNUAL Ottawa


theANNUAL Ottawa – 7


Gloucester and North Orleans Clarence** 7

10

6 8

Western Ottawa & Surrounding Area

5

1

2BR: $934

3

4

9

Nepean

AVR: .9%

AVR: 3.6%

2BR: $1831

2BR: $1199

AVR: .7%

2

AVR: 1.9% 2BR: $1099

Russell** AVR: .7%

Eastern Ottawa & Surrounding Area**

2BR: $934

AVR: .7% 2BR: $934

North Grenville AVR: N/A 2BR: N/A

current population

934,243

*

*refers to the Ottawa part of Ottawa-Gatineau ** Eastern Ottawa & surrounding includes Clarence and Russell

Ottawa Zone Statistics 1 Downtown: AVR: 1.1% | 2BR: $1489

6 Chinatown/Hintonburg/Westboro N: AVR: 1.4% | 2BR: $1254

2 Sandyhill/Lowertown: AVR: 2.3% | 2BR: $1560

7 New Edin./Manor Park/Overbrook: AVR: 1.7% | 2BR: $1129

3 Glebe/Old Ottawa South: AVR: .2% | 2BR: $1342

8 Westboro S/Hampton Pk/Britannia: AVR: 1.4% | 2BR: $1152

4 Alta Vista: AVR: 2.4% | 2BR: $1189

9 Hunt Club/South Keys: AVR: 1.0% | 2BR: $1061

5 Carlington/Iris: AVR: 1.4% | 2BR: $1119

10 Vanier: AVR: 1.9% | 2BR: $1018

average rent in senior’s rental housing in 2017

AVERAGE RENT IN SENIORS RENTAL HOUSING (INCLUDING MEALS) IN 2017

$3390 8 – theANNUAL Ottawa

per month


27.9% Ottawa’s housing structures are

APARTMENTS

14.4% Ottawa’s housing structures are

PART OF A CONDOMINIUM

CONDOMINUM RENTAL SUPPLY STILL RISES SUBSTANTIALLY IN 2017 12000 10000 8000

2017

2016

2015

2014

2013

2012

2010

2009

2000

2008

4000

2011

6000

0 theANNUAL Ottawa – 9


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State of the Industry Ottawa Bach 1 bdrm

2 bdrm

3+ bdrm Row Condos

Primary Market Defined

Secondary Market Defined

The primary rental market consists of apartment buildings of 3 units or more, and rental row house or garden home complexes of 3 units or more.

The secondary rental market consists of rented condos, single family homes, doubles, duplexes or other buildings of two units or fewer (such as a single family home with an accessory suite).

Others

Ottawa’s primary and secondary rental market universe totals

Primary

69,575

Secondary

+ 43,500 Total: 113,075

Important things to know about Ottawa’s condo market

33,609 condo units in 2016 & increased to 34,034 in 2017

33,850

25.5% of Ottawa’s condo units are in Hunt Club/ South Keys.

Immigrants landed in Ottawa between ‘06-’11

theANNUAL Ottawa – 11


Info

Alta Vista

Eastern Ottawa & Surrounding Areas

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

2.4%

.7%

1.8%

1.5%

1.9%

3.0%

N/A

N/A

Average Rent

$819

$842

$958

$971

$1210

$1189

$1705

$1665

2 Bedroom

3 Bedrooms +

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

1.4%

2.2%

2.0%

1.0%

2.7%

1.8%

5.0%

1.6%

Average Rent

$801

$818

$909

$937

$1089

$1119

$1301

$1332

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

1.8%

1.6%

1.8%

1.0%

1.7%

1.7%

2.3%

N/A

Average Rent

$790

$828

$963

$1017

$1280

$1254

$1771

$1936

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

1.4%

.6%

1.7%

.8%

2.6%

2.1%

3.8%

N/A

Average Rent

$828

$847

$1081

$1094

$1467

$1489

$1648

$1642

Info

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

N/A

N/A

1.4%

0.0%

2.6%

.7%

N/A

N/A

Average Rent

N/A

N/A

$876

$801

$906

$934

N/A

N/A

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

N/A

0.0%

3.9%

.1%

2.1%

.2%

N/A

.5%

Average Rent

$842

$858

$1005

$1033

$1294

$1342

$1579

$1557

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

.9%

N/A

2.5%

1.0%

3.7%

1.1%

17.0%

N/A

Average Rent

$846

$757

$891

$900

$1055

$1061

N/A

N/A

Info

Nepean

1 Bedroom

Oct-16

Info

Hunt Club & South Keys

Bachelor

Survey Date

Info

Glebe/ Old Ottawa South

3 Bedrooms +

Oct-16

Info

Downtown

2 Bedroom

Oct-17

Info

Chinatown/ Hintonburg/ Westboro N

1 Bedroom

Oct-16

Info

Carlington/ Iris

Bachelor

Survey Date

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

5.8%

4.0%

4.5%

2.6%

5.0%

3.9%

N/A

5.5%

Average Rent

$886

$941

$1004

$1026

$1170

$1199

$1291

$1388


Info

Gloucester and North Orleans

Overbrook, Manor Park, and New Edinburgh

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

N/A

.9%

1.3%

1.4%

5.6%

2.0%

4.2%

3.5%

Average Rent

$802

$849

$930

$980

$1069

$1099

$1211

$1207

Westboro/ S Hampton Park/ Britannia

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Average Rent

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Info

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

0.0%

0.0%

2.1%

2.0%

3.6%

2.0%

N/A

0.0%

Average Rent

$775

$832

$939

$975

$1113

$1129

$1373

N/A

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

3.9%

2.7%

4.0%

2.3%

2.1%

2.2%

N/A

1.5%

Average Rent

$823

$834

$1040

$1134

$1312

$1560

$1680

$1908

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

N/A

N/A

9.6%

1.3%

1.5%

.6%

N/A

N/A

Average Rent

N/A

N/A

$1499

$1586

$1725

$1831

N/A

N/A

Info

Vanier

3 Bedrooms +

Oct-17

Info

Western Ottawa & Surrounding Area

2 Bedroom

Oct-16

Info

Sandy Hill/ Lowerton

1 Bedroom

Survey Date

Info

North Grenville

Bachelor

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

N/A

N/A

5.4%

2.2%

4.2%

2.1%

N/A

N/A

Average Rent

$686

$737

$782

$869

$971

$1018

$1220

$1340

Info

Bachelor

1 Bedroom

2 Bedroom

3 Bedrooms +

Survey Date

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Oct-16

Oct-17

Average Vacancy

2.4%

3.0%

1.9%

1.4%

1.6%

1.3%

2.7%

0.0%

Average Rent

$818

$875

$946

$961

$1131

$1152

$1267

$1302


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Realty Check

The transactions of note in:

Ottawa & Surrounding Areas

theANNUAL Ottawa – 15


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Multi-Housing

Specialist


Ottawa

Realty Check

employment in Ottawa’s economy. This is the largest percentage in North America: greater than Toronto (8.9%), more than three times the U.S. national average (3.5%), and will increase demand for urban rental product.

Investment volume decreased year-over-year in 2017 after a surge in sales activity during the previous year. Despite relatively fewer high profile transactions from institutional capital, pricing maintained momentum with private Canadian investors showing strong demand for multifamily assets.

On the supply side, expanding infrastructure projects will facilitate the delivery of new apartments, which has lagged in recent years with 525 new rentals and 691 condos in 2017. Phase 1 of the Confederation Line is scheduled for completion at the end of 2018, which will serve transit-oriented developments across the city. Several projects are planned in proximity to the new Light Rail Transit line, including the Trinity Centre, which will create more than 1,240 units in 3 towers at heights of 27, 56, and 65 storeys.

Fundamentals have tightened in Ottawa’s rental market, as vacancy decreased for a second consecutive year to 1.7%, down from 3.0% in 2016 and 3.4% in 2015. On the demand side of the equation, affordability constraints, new lending restrictions, and increasing employment in the 25-to-44 age cohort have contributed to steady growth in rents and demand for rental housing. An exciting economic trend is Ottawa’s influx of tech-talent, emerging out of the city’s 1,700 technology firms, which now employ over 70,000 people; as of 2017, the technology sector comprises 11.2% of total

David Montressor | Executive Vice President CBRE Limited | National Apartment Group Sources: Realnet, CMHC, CBRE Research.

Summary Table Market Cap Rate Range

Building Size

Sale Price

Price per unit

Average

101

$17,019,004

$183,602

Low

18

$2,180,000

$113,057

4.00%

High

268

$96,617,052

$360,511

5.00%

TOTAL

1,009

$221,247,052

*Deals under $2M excluded, non-profit, seniors, student residence in the transaction summary

234 Charlotte St.

Purchaser: 1470475 Ontario Inc Stories: 3.5 Units: 21 Price/Unit: $194,872

1801 Riverside Dr. Purchaser: Rideau Park Apartments Ltd Stories: 12 Units: 136 Price/Unit: $158,088

Sold at

$4,092,308

Sold at

$21,500,000

theANNUAL Ottawa – 17


Realty Check 1378 Mayview Ave. Purchaser: 1924365 Ontario Inc Stories: 3.5 Units: 8 Price/Unit: $157,500

Sold at

$1,260,000

66 Fifth Ave. Purchaser: 68 Fifth Ave Inc Stories: 3 Units: 6 Price/Unit: $262,500

33 Regent Street Purchaser: JB Holdings Inc. Stories: 3.5 Units: 8 Price/Unit: $237,000

$1,900,000

Purchaser: 2592532 Ontario Inc Status: Rental Apartment Redevelopment Site: triplex and used car dealership on 0.2 Ac

Purchaser: Merivale Apartments Ltd Stories: 12 Units: 184 Price/Unit: $163,043

18 – theANNUAL Ottawa

$1,575,000

Sold at

433 Churchill Ave. N 435 - 437 Churchill Ave. N

1220 Merivale Rd.

Sold at

Sold at

$30,000,000

Sold at

$1,900,000


Recent Realty Transactions 1440 Mayview Ave. (Pictured) 1425 Rosenthal Ave. Purchaser: 2555540 Ontario Inc Stories: 5 & 10 storey Units: 157 Price/Unit: $113,057

2902 Fairlea Crescent Purchaser: NVU 2920 Fairlea Ltd Stories: 6 Units: 113 Price/Unit: $132,743

$15,000,000

Purchaser: 1470475 Ontario Inc Stories: 3.5 Units: 18 Price/Unit: $194,872

Purchaser: Presland Tower Apts Ltd Stories: 7 Units: 53 Price/Unit: $147,170

$17,750,000

Sold at

430 Daly Ave.

305 Presland Rd.

Sold at

Sold at

$3,507,692

Sold at

$7,800,000

575 MacLaren St. Purchaser: 1470475 Ontario Inc Stories: 3.5 Units: 9 Price/Unit: $202,778

Sold at

$1,825,000

theANNUAL Ottawa – 19


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Association Report

theANNUAL Ottawa – 21


Association Report

The Eastern Ontario Landlord Organization (EOLO) represents Ottawa’s largest for-profit residential landlords, as well as many other landlords. Our members include:

requiring backflow prevention devices, the new mandatory provincial standard lease, energy efficiency incentives, property tax information, risk management and minimizing insurance costs.

Paramount Properties Homestead Land Holdings Ltd. • Minto Properties • Osgoode Properties • CLV Group • Timbercreek • Ferguslea • Urbandale • District Realty • Regional Group of Companies, and • Killam Apartment REIT

To promote a positive environment for rental housing, and to facilitate the responsible and effective management and ownership of residential rental property in Eastern Ontario.

• •

EOLO’s member services EOLO provides e-mail updates about new City and Provincial requirements and key information for residential landlords, as soon as that information becomes available. We also provide recaps and background six times a year through EOLO’s section in Rental Association Voice in RHB Magazine. Twice a year, EOLO hosts an education session, covering three to five topics, as well as a Networking Reception. Recent topics include the new city program

22 – theANNUAL Ottawa

EOLO’s Vision Statement

EOLO’s Mission Statement 1. To create and maintain positive relationships with the City of Ottawa, the news media, business groups and other political decision makers in Ottawa; 2. To advocate fair and positive policies relating to rental housing from the City of Ottawa, including property tax policies, housing policies and municipal services policies; 3. To educate decision-makers and the public about the benefits of a healthy, free-market rental housing system for the economic and social well-being of Ontario; 4. To improve the public perception of rental housing providers in Eastern Ontario through media relations and education; and 5. To improve the knowledge and skills of rental housing providers in Eastern Ontario.


Recent political issues

Garbage charges Several years ago, the City decided to remove the garbage service from tax-paid services, and instead to levy a per unit charge which reflected the cost of the service. At the time the change was made, the quotes from service providers made it clear that for street collection the cost was $80 per unit, while for the bin service provided to apartment buildings and condos, the cost was $40 per unit. The average cost was $70 per unit. EOLO worked with friendly Councillors to ensure that the charge for apartment units (and condos) was set at $40. That work saved every apartment owner $30 a year, and the fee structure continues to save apartment owners a similar amount every year.

Rather than charging one rate for water volume, the City wanted to make a separate charge for storm water services (based on its cost per unit), and charge 30% of the remaining costs on a flat rate based on the pipe size. EOLO worked with its members and the City staff to understand the implications of the change. In particular, we pointed out that apartment buildings and townhouse rental projects do not place the same draw on storm water services as single family homes, with their proportionately larger roof and driveway areas. We led the City to provide a 50% discount on the per unit rate for storm water for apartment buildings and townhouses (including condos). The new charge is to take effect some time in late 2018 or early 2019. EOLO’s work will save every apartment owner money on every water bill.

Property tax rates On April 11, 2018, City Council adopted the city staff report on property tax ratios as recommended by the Finance and Economic Development Committee. That means that in 2018 the multi-residential tax ratio will be reduced from 1.45 to about 1.42.

Water rates A year ago the City decided to change the way it charges for water, sewer and storm water services.

For many years, EOLO has been advocating the reduction of the multi-residential tax ratio in Ottawa, with great success. Through many manageable steps, Ottawa has moved from having one of the higher multi-res tax ratios in the province to having one of the lowest ratios among major cities in Ontario. EOLO still believes that the multi-residential tax ratio should be reduced to 1.0, so that

theANNUAL Ottawa – 23


Association Report tenants pay the same tax rate as homeowners, but small steps in the right direction are better than no steps in the right direction, and much better than any steps in the wrong direction. Overall, in 2018, the rental sector will pay the same city property tax increase percentage that home owners pay, as per the City’s overall budget increase (net of the revenue from new development).

supportive housing units, and to create 380 new rental subsidies, including 310 which will come with supports. The new rental subsidies will increase the number of them by 9%. The new supportive housing units will increase the number of them by about 5%. The new units providing affordability, but not other supports, will increase the number of them by about 2%. Other housing funding is to support the Ontario Renovates Program for low-income homeowners and private landlords, including rooming house operators. EOLO applauds the increases in rental subsidies, as well as the increased focus on supportive housing. For the same amount of public money, rent subsidies help more people than building new social housing units. At the same time, supportive housing is needed for people who cannot maintain their housing in the private market even with supports.

Responding to a call for tighter rent control

City housing policy Like the Canadian Federation of Apartment Associations and the Federation of Rental Housing Providers of Ontario, EOLO has long advocated a greater use of portable housing benefits as the best means of helping low-income tenants afford their housing. EOLO also advocates focusing any funding for social housing on supportive housing. We believe those measures are best for lowincome tenants, taxpayers and rental providers. In large part due to EOLO’s work on the Housing System Working Group, the City has moved in that direction. Since 2014 the City has completed 364 supportive housing units, and created 386 new rental subsidies. For 2018 and beyond, the plan is to complete 378 affordable housing units and 78 affordable

Recently the Advocacy Centre for Tenants Ontario (ACTO) called for the enactment of unit-based rent control, arguing that Ottawa rents are out of range for minimum wage earners. Thanks to our frequent dealings with them, CBC Radio contacted EOLO for our input on that issue. The resulting story ran with considerable content from EOLO, pointing out that tighter rent control would reduce rental supply and make low-income tenants worse off, rather than better off. The story can be viewed at http://www.cbc.ca/news/canada/ottawa/ottawa-rents-minimum-wage-tenant-advocate-1.4673287 or at EOLO’s website, www.eolo.ca. EOLO is proud of the work it does to achieve sound public policy, and fair municipal charges for tenants and landlords.

“We led the City to provide a 50% discount on the per unit rate for storm water for apartment buildings and townhouses (including condos).” 24 – theANNUAL Ottawa

~ John Dickie, Chair of EOLO


Future issues and EOLO goals A key current issue is landlord licensing, which has been implemented in four Ontario cities, but not in Ottawa. In all cases, the pressure to bring in licensing arose from the reactions of long-standing residents to student renters. Homeowners objected to noise and disturbances coming from housing rented by students, and sometimes the students’ failure to deal properly with their garbage and to maintain the properties in a tidy condition. The Association of Community Organizations for Reform Now, better known as ACORN, is an advocacy group for low-income people and tenants. ACORN is pressing the City to introduce landlord licensing, but they see it as a way to make landlords perform better, especially for low-income renters, who ACORN sees as having less clout and fewer resources than middle-income and upper-income renters. To successfully combat pressure for licencing, both landlords and landlord associations need to build positive relationships with City staff, City Councillors, tenants, and community

members to get the word out that professional property managers are doing a great job and helping to build the community. EOLO has been working hard to combat licencing in Ottawa. Efforts include improving relationships in Sandy Hill between tenants, landlords and community members. In speaking with City Councillors and other key stakeholders, EOLO and other opponents of landlord licensing make these points:

Landlords are heavily regulated now, with tenants able to call in city property standards officers to issue work orders, and tenants able to apply to the Landlord and Tenant Board for orders or compensation for persistent maintenance or repair problems.

A licensing regime is not directed at the real problems (which exist in some few cases), but rather creates new requirements and offences.

The few landlords who ignore their obligations now are probably as likely to ignore licensing

theANNUAL Ottawa – 25


Association Report

“EOLO works continually to build positive relationships with City staff, City Councillors, social housing providers, residential tenants, team members and community members.”

requirements, so that a licensing system will primarily impose new requirements and costs on people who are complying with the rules now.

Licensing regimes require landlords to file plans for maintenance and for garbage removal or for parking, when what is required is not a piece of paper in a City file cabinet, but rather the delivery of appropriate services.

Licensing would require a bureaucracy to administer, when the City is trying to contain staffing and operating costs.

Licensing would raise the cost of rental housing, which will tend to make rental housing more expensive.

Licensing would raise the hassle factor in operating rental housing, which will tend

26 – theANNUAL Ottawa

to reduce the supply, which will also tend to make rental housing more expensive.

In some cases, licensing smacks of age discrimination because its driving force is often to try to keep student-renters out of neighbourhoods.

EOLO works continually to build positive relationships with City staff, City Councillors, social housing providers, residential tenants, team members and community members. Through that work, and with the consistent and strong support of landlords in Ottawa, we expect to be able to protect and serve rental housing providers in Ottawa in 2018 and future years.


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28 – theANNUAL Ottawa


Hot Neighbourhoods The latest information in Ottawa’s many neighbourhoods like:

Kanata & Stittsville, Nepean

Rural Eastern Ottawa, East & West Orleans, Gloucester

theANNUAL Ottawa – 29


Hot Neighbourhoods

934,243 Ottawa’s total population 30 – theANNUAL Ottawa

367,170 total private households

117,900 are rental households


Tenant Household Income distribution (before taxes) Less than $20 before taxes – 26,280 Less than $ 20K b efor e ta xes $20K to $ 39,99 9K b efo re t ax es $40K to $59,9 99K bef ore tax $60K to es $79, 999 Kb efo re $80K to ta xe $99 ,99 s 9K be fo re $100K and ov er

$20,000 to $39,999 before taxes – 28,910 s xe ta

$40,000 to $59,999 before taxes – 25,040

es ax et or f be

$60,000 to $79,999 before taxes – 16,015 $80,000 to $99,999 before taxes – 8,990 $100,000 and over before taxes – 12,660

16.5% of rental households include at least 1 senior

The age cohort most likely to rent is age

25-34

Ottawa Population- by immigration status

Immigrant demographic Includes: Recent immigrants (landed 2006-2011) – 5.4% Landed 1996 to 2005 – 7.2% Landed before 1996 – 14.1%

Immigrant

26.7%

24,405

Non-permanent resident

Non-immigrant

2.7%

70.6%

of private rental households include at least one child under 18 theANNUAL Ottawa – 31


Hot Neighbourhoods *numbers are the total of starts (actual), Under construction, and completions in 2017 across all intended markets

Gloucester & Western Orleans

Under

Starts (Actual)

Completion

Construction

66

apartments

447

54

row houses

apartments

317

row houses

72

apartments

397

row houses

Eastern Orleans & Rural Eastern Ottawa

Completion

Under

Starts (Actual)

Construction

230

apartments

403

row houses

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202

apartments

207

row houses

78

apartments

380

row houses


Kanata & Stittsville

Under

Starts (Actual)

Completion

Construction

149

apartments

537

row houses

268

apartments

544

row houses

54

apartments

455

row houses

Barrhaven & Rural Nepean

Completion

Under

Starts (Actual)

Construction

68

apartments

335

row houses

116

apartments

306

row houses

184

apartments

501

row houses

theANNUAL Ottawa – 33


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Top 10 Ottawa’s top ten private landlords by size

theANNUAL Ottawa – 35


Top 10

Owners, Managers & REITs

* According to their respective suite count in Ottawa.

Paramount Properties

Category:

Owner

Website:

paramountapts.com

Number of suites

7500

Homestead

36 – theANNUAL Ottawa

Category:

Owner

Website:

homestead.ca

Number of suites

6190


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theANNUAL Ottawa – 37


Top 10

Owners, Managers & REITs

The Minto Group Category:

Owner

Website:

minto.com

Number of suites

5355

Osgoode Properties

38 – theANNUAL Ottawa

Category:

Owner

Website:

osgoodeproperties.com

Number of suites

3158


theANNUAL Ottawa – 39


Top 10

Owners, Managers & REITs

Timbercreek Asset Management Category:

REIT

Website:

timbercreek.com

Number of suites

2511

Ferguslea Properties Ltd. Category:

Owner

Website:

fergusleaproperties.com

Number of suites

2400

CAPREIT

40 – theANNUAL Ottawa

Category:

REIT

Website:

caprent.com

Number of suites

2377


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theANNUAL Ottawa – 41


Top 10

Owners, Managers & REITs

Regional Group of Companies Number of suites

Category:

REIT

Website:

regionalgroup.com

2000

QResidential Number of suites

Category:

Owner

Website:

qresidential.ca

1628

Urbandale Corporation

42 – theANNUAL Ottawa

Category:

Owner

Website:

urbandalecorporation.com

Number of suites

1580


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44 – theANNUAL Ottawa

Honourable Mentions

Village Millcraft Apartments

Vertica

United Properties Ottawa

Sleepwell Management

Silver Management Group

Saickley Enterprises

Northview Apartment REIT

Morguard North American Residential REIT

Killam Apartment REIT

I.P.T Investments

HE Reinert Holdings Corporation

Golden Equity

G&S Regal Management

Empire Holdings

District Realty

CLV

Capital Properties

Arnon Development Corporation

Apollo Management

Owners, Managers & REITs


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Rental Legislation

theANNUAL Ottawa – 47


Rental Legislation FOREWORD We’ve seen some important changes this past year affecting our industry, starting with fundamental changes to the Residential Tenancies Act (RTA), made by the Liberal government, to the election of a new Progressive Conservative government, led by Rob Ford. For this inaugural Regional edition of theANNUAL, we wanted to make sure our readership obtained a full and detailed analysis of what has happened, what you need to know and what to look for throughout the year. In order to examine what it all means, we reached out to Joe Hoffer and the team at Cohen Highley, one of Ontario’s premier legal resources for residential landlords and property managers. theANNUAL is pleased to be able to bring you their perspective on the recent changes to the RTA and what they all mean. Time will tell what changes the new government will bring.

Ontario’s Change in Government Does Not Mean a Change For Landlords Ontario’s “Rental Fairness Act, 2017”, amended provisions of the Residential Tenancies Act, 2006 (RTA) that were perceived by tenants and the Province as advantageous to landlords. While Ontario has recently experienced a change in government, there is no expectation by the industry that there will be any changes to restrictions imposed by Ontario’s 2017 changes to the severe revenue restrictions imposed by the RTA. A summary of major changes that small landlords and investor landlords in condo rentals should be aware of are as follows:

Changes to the rules relative to possession for “landlord and purchaser’s own use” including new penalties for landlord breaches of the provisions.

New penalties relative to possession for “substantial renovation” or for conversion of use.

The mandatory “Prescribed Lease” required for use in most residential tenancies.

Loss of “New Construction” exemption and imposition of Rent Controls on new builds (Notices given on or after April 20, 2017 are limited to the Guideline and/or other rent increase rules).

Changes to Rules for “Above Guideline Applications”: removal of right to apply for extraordinary cost increases in “vital services”.

Landlords’ Own Use Changes Which Will Affect “Small Landlords” and Rental Investors Prior to amendments, s. 48 RTA permitted a landlord to regain possession of a rental unit at the

48 – theANNUAL Ottawa

end of a term of the tenancy in circumstances where the landlord required possession for use by the landlord or a member of the landlord’s immediate family or for a caregiver who would provide care services to a member of the landlord’s immediate family, where the care recipient lived in the same residential complex”. The main legal requirement was that Notice of Termination be in the proper form and be given in “good faith”. There were some judicial precedents to support the position that the Notice could be given by a corporation, even though a corporation is incapable of “living” in the rental unit. There were frequent instances of abuse by owners of small rental properties giving tenants notice to vacate based on landlord’s own use; however, subsequent to the tenant vacating, the owner might move in for only a short time and/or would renovate the unit; rent it out for a much higher market rent; and then operate or sell the property which itself would have a much higher value due to the more lucrative rental income generated by the asset. The notices were in fact not given in good faith, but tenants would often vacate having no reason to doubt the bona fides of the landlord, or even if they learned later that the notice was not given in good faith, they may not have been inclined to initiate proceedings. The new rules for landlords own use: Section 48 has now been amended to insert additional protections and remedies for tenants who move in response to a “landlord’s own use” notice. First, the Notice may not be served unless the Landlord bona fide requires (and asserts) that occupancy is required for


Joe Hoffer Partner, Cohen Highley LLP a period of at least one year by the designated person for whom the notice was given. Section 48 (5) has been enacted to specify that a landlord cannot give the Notice unless the landlord is an individual and the rental unit is owned in whole or in part by an individual: a corporate owner cannot give the Notice. If it is necessary to apply for an eviction order then the landlord must now confirm in an affidavit submitted to the Board that possession is required by the designated person for at least one year; furthermore, the landlord must pay the tenant a penalty of one month’s rent compensation or offer another unit acceptable to the tenant. If the landlord does not pay the rent compensation the tenant may apply for recovery of same years later as the usual one year limitation period within which to file an application does not apply. “Section 48 has now been amended to insert additional protections and remedies for tenants who move in response to a ‘landlord’s own use’ notice.” In circumstances where the designated person does not occupy the rental unit “within a reasonable time” after the tenant vacated, or if the landlord lists the unit for rent or the building for sale during the one year period, there is a new provision in the legislation that creates a presumption that the landlord has acted in bad faith and at a hearing the landlord will have to lead evidence to prove good faith. The effect of the section is to impose a “freeze” on transactions involving the building for at least 14 months (60 days’ notice plus one year), although the “presumption of bad faith” is rebuttable (ie: death, or life’s vagaries can be used to displace the ‘reverse onus’). If the landlord does not comply with the “freeze” period, or the designated person does not occupy at all, then the tenant has a menu of harsh financial penalties to apply for as against the landlord (rent differentials, moving expenses, abatement of rent, and an administrative fine of up to $25,000, plus a breach is a Provincial Offence subject to a $25,000 fine.

“Purchaser Own Use” Changes If the property is a “residential complex” with no more than 3 residential units, then a Landlord (vendor) may give Notice of Termination on behalf of a prospective purchaser of the rental unit or the residential complex (s. 49 RTA). The agreement of purchase and sale must be in place before the Notice of Termination is given and must be effective on the last day of a term or rental period. The Notice is to be given for occupation of the rental unit or “residential complex” by the landlord or member of the family or designated caregiver. Prior to the recent changes to the RTA, a prospective purchaser and vendor would sometimes improperly give the notice in bad faith; secure possession of the rental unit; renovate the unit (or units); and, either flip the property or rent it out for a much higher market rent. In other cases, a vendor landlord may have given the notice in good faith only to learn after the fact that the purchaser never moved in and instead rented the vacant unit out for a higher rent. Under the RTA changes, it is the vendor landlord who can be seriously penalized even though the purchaser may be the one who made the false representation that possession was required for personal use. Unlike the situation where a landlord seeks possession for own use, where the notice is served on behalf of the purchaser, there is no requirement to pay one months’ rent compensation to the tenant or that the purchaser reside in the rental unit for at least a year; however, if the purchaser or designated person does not move in within “a reasonable time”, then a former tenant may apply for an order against the vendor landlord within one year of the date the tenant vacated. The remedies that may be ordered against the vendor landlord are the same as those against a landlord under s. 48. Landlords should ensure that if they give a notice on behalf of a prospective purchaser, there is a provision in the agreement of purchase and sale which survives closing to

theANNUAL Ottawa – 49


Rental Legislation protect the vendor from liability if the purchaser or designated person does not move in within a reasonable time.

Substantial Renvoations and the Tenant’s “Right of First Refusal” Before the RTA changes, if a landlord gave a tenant notice to vacate at the end of a rental period or term based on the landlord’s intention to renovate the rental unit so substantially as to require vacant possession, then the Notice of Termination (Form N13) required the landlord to pay compensation for the time the tenant was out of possession (maximum 3 months) and give the tenant the right to re-occupy the rental unit after renovations with rent payable at the old rent. Any time prior to the tenant vacating, the tenant was required to notify the landlord of the tenant’s intention to re-occupy after the renovations were completed.

“The liability and remedies are subject to a one year limitation period from the time the tenant vacates the rental unit.” The Notice of Termination form made it clear the tenant has the right to re-occupy the rental unit at the old rent following renovations; however, some landlords failed to notify the vacated tenant that the unit was ready for reoccupation at the old rent. The result was that the tenant was unable to exercise the right of first refusal to re-occupy and the landlord rerented the unit for a much higher rent. New penalties and remedies have now been enacted to address situations where the Board determines that a landlord has “failed to afford the former tenant a right of first refusal”. There are also new remedies for tenants if the landlord fails to “renovate or demolish or convert use… within a reasonable time” of the tenant vacating the rental unit. The liability and remedies are subject to a one year limitation period from the time the tenant vacates the rental unit. On the issue of payment by the landlord of up to three months’ rent compensation due to renovation, demolition

50 – theANNUAL Ottawa

or conversion of use, there is no limitation period for recovery because of a new provision in the RTA removing the limitation for recovery of such payments. Investors in recently renovated rental units should require a warranty that survives closing, confirming that there are no tenant compensation payments outstanding.

The “Standard Form of Lease” Under the RTA, a tenancy agreement “means a written, oral or implied agreement between a tenant and a landlord for occupancy of a rental unit…”. There used to be a requirement that the landlord provide written notice to a new tenant, within 21 days of commencement of a tenancy, of the “legal name and address of the landlord to be used for giving notices and other documents”. Tenant advocacy groups contended that the lease forms were confusing and contained “illegal clauses” and that oral or implied tenancy agreements left tenants open to abuse. They also complained that the font size was too small and the lease was too long (four pages “legal size” paper in most cases). Demands were made for a “standard form of lease” which would govern all tenancies in Ontario; would be easy to read; and which would prevent landlords from incorporating “illegal terms and conditions” in their leasing documents. The Province amended the RTA (s. 12.1) to include a requirement that all landlords use a “prescribed form” of lease (it is 13 pages long!) making it mandatory for landlords of most kinds of “rental units” (i.e. condos, houses, apt buildings, secondary suites) to use the “Standard Form of Lease”. It must be used for residential tenancies entered into on or after April 30, 2018, except for for “Care Homes”, Mobile Home/Land Lease tenancies, tenancy agreements for member units in non-profit housing cooperatives, and tenancy agreements which are generally governed by “social housing” exemptions in the RTA. The Standard Lease Form must be signed on or before the day Tenant is entitled to occupy the rental unit and applies to tenancy agreements “entered into” on or after April 30. Any tenancy agreements that were entered into prior to that


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Rental Legislation

date, even if the commencement date of the tenancy was long after April 30, 2018, and even if the tenancy agreement is “oral or implied”, are “grandfathered”. The Standard Form of Lease has a permissive provision which allows landlords to add “Terms and Conditions” but it is up to individual landlords as to whether they choose to add terms and conditions. A signed copy of the lease must be given to the tenant within 21 days of the tenant signing it and the agreement must be signed before the tenant is entitled to occupy the rental unit. The London Property Management Association has drafted standard terms to be added to the mandatory government form and the terms are leased to regional landlord associations and landlords throughout Ontario. If the Standard Form of Lease is not used for a tenancy agreement that is entered into on or after April 30, 2018, then the tenant of the affected rental unit may demand “in writing” a signed copy that complies with RTA from the landlord (only once during tenancy). If the landlord does not give a signed copy within 21 days, the tenant may withhold rent payments “that become due” after expiry of 21 days (ie: the next month’s rent), the tenant may withhold a maximum of one month rent. If the landlord complies within 30 days of the date rent is withheld, then the tenant must repay the withheld rent but if there is no compliance, then after 30 days the tenant can keep the rent that was withheld. In addition, if the landlord does not provide the Standard Form Lease within 21 days after the tenant’s written request for same, the tenant has the option to give a 30 day notice to vacate,

52 – theANNUAL Ottawa

regardless of what the fixed term of the lease is. If the landlord does provide the signed Standard Lease, then the tenant still has the option, within 30 days of receipt of same, to either sign the document or refuse to sign and give 60 days’ notice to terminate, again regardless of the lease term. If the tenant is given the document and does nothing within the 30 day time frame, then the tenant is bound by the previous non-standard tenancy agreement which may be “written, oral or implied”. Note that if a tenant and landlord properly entered into the Standard Form of Lease, and a signed copy was given to the tenant within 21 days of occupancy, then the landlord is not required to respond to the tenant’s written demand for same at a later date (although it is recommended that the landlord do so anyway). The bottom line is that landlords who are very disorganized and operationally (or out of ignorance of the law) incapable of producing a signed Standard Form of Lease in timely response to a tenant’s written demand for same, stand to lose one months’ rent and have the tenant break a fixed term lease on 60 days written notice. It is not an “offence” for a landlord to fail to use the Standard Form of Lease.

Removal of “New Construction” Exemption From Guideline Rent Control Units that were in a building which was not occupied for residential purposes prior to November 30, 1991 were exempt from most rent control provisions of the RTA, including the restriction on giving notices of rent increase by an amount that was no more than


Joe Hoffer Partner, Cohen Highley LLP the annual “Guideline”. Notices were to be given on the Notice of Rent Increase Form N2 and could be for any amount of increase. The principle behind the new construction exemption was to allow landlords to quickly lease up a new building to “take out” the more expensive construction financing and put long term financing in place. Low rents were used to achieve sufficient “lease up” status to secure less expensive long term financing and the exemption from the Guideline restriction would then allow the operator to achieve market rent levels over time through annual rent increases. The problem with the rent control exemption was that some Landlords would use it to secure an “economic eviction” of tenants so that the unit could be re-rented for a higher amount in a rising market. Now, all rental units which are subject to the RTA are subject to the rent control Guideline.

Changes To Rules Permitting “Above Guideline Rent Increases” (“AGI’s) Landlords who made major capital investments in their rental buildings or who incurred “extraordinary operating cost increases” in utilities or property taxes/municipal charges could previously qualify for AGIs if they met prescribed criteria set out in the RTA and regulations. The policy behind permitting AGIs for qualifying capital work was to encourage ongoing investment into rehabilitation of existing rental housing stock to ensure it remained in a good state of repair. The policy behind permitting AGIs for “extraordinary” operating cost increases for utilities such as water rates; hydro; natural gas, etc. was based on the recognition that certain vital services consumption charges were beyond the control of the building operator: the same policy principle applied to property tax increases. The ability to increase the rent above the Guideline encouraged investment in housing stock through qualifying capital expenditures and helped offset substantial increases to vital utility services and municipal charges so that ultimately rental revenue would pay for the increases. The inability to pass on all or part of such costs would, for all practical

purposes, result in a substantial deterioration ofhousing stock and other forms of cost cutting measures by landlords (ie: maintenance and repairs or the supply of vital services) to offset losses. The Province has now repealed provisions of the RTA which permit a landlord to apply for an AGI based on “extraordinary operating cost” increases, with the exception of extraordinary increases in municipal property taxes and “municipal taxes and charges”, (ie: landlord licensing fees). The effect of the change is that substantial increases in hydro, water and fuel costs will have to be absorbed by the landlord. One positive effect of this may be to encourage landlords to install energy conservation components or to transfer the cost risk to tenants by sub-metering electricity and water consumption and passing payment obligations on to new tenants under new tenancy agreements. There are, however, strict RTA rules around submetering electricity and there is virtually no ability to transfer responsibility for payment of same to existing tenants. The Province has also amended the RTA to provide the LTB with expanded jurisdiction to disallow capital expenditures which under the old rules would have qualified for an AGI. The expanded jurisdiction is based on “prescribed circumstances” and as of the date of writing this article, the regulation listing the prescribed circumstances has not yet been enacted. With a new government now in power, there may be no implementation of further restrictions on the definition of capital expenditures, which is a small bright spot for landlords following the change in government.

Summary The RTA amendments introduced over the past year by the Province will affect both large and small operators of multi-res housing and small investor landlords, including condo rental investors, who are particularly vulnerable to financial risk. Small landlords should familiarize themselves with the RTA rules that are designed to set them up for financial failure if they fail to comply.

theANNUAL Ottawa – 53


54 – theANNUAL Ottawa


5 things you should know

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theANNUAL Ottawa – 55


5 things you should know Factors to Consider When Choosing Your Rental Property Insurance Policy When looking for an insurance policy for your rental property, you need to be alert to more than just the bottom line price. Many policies may be able to save you a few dollars, but when you need the policy the most – in the event of a claim – those policies may not be able to help you due to limitations or exclusions.

Prices

To help you with the process of finding the most suitable policy for your investment at a reasonable price, here is a list of 5 items you should consider when choosing the policy that is the best fit for you.

Look for Value in the policy and not the cheapest price because the cheapest policy many result in a lot of exclusions. Asking about policy fees and payment terms can reveal additional fees or higher

“Full coverage” may not be true to its word. Always read the fine print and check for things like the sublimits for items like the sewer backup coverage or equipment breakdown coverage.

Co-Insurance is a penalty you’ll pay in the event you report a value for your property that is less than the actual cost to rebuild the property. Make sure to advise your insurance broker of all specifics of your property as

Multi-policy discounts

accurately as possible to avoid paying a penalty in the event of a claim.*

Make sure to ask if there are any discounts for combining, your home, auto, business or investment property with the same company.

Exclusions & Extensions

Co-Insurance

Sub-limits

interests that increases cost in the long run.*

Review and educate yourself with what claims will not be covered by your policy, if you are willing to pay for these losses yourself, and what extensions are included in the policy in the event of a claim. Typically, extensions are included for no additional premium and could provide some extremely valuable coverage compared to other policies. Statistics and information provided by: Acumen Insurance Group

56 – theANNUAL Ottawa


Insurance, Windows & Doors Aluminum

Fiberglass

Important Things Owners Should Know about High Rise Windows and Doors Aluminum thermally broken windows are window frames that provide a thermal break preventing the penetration of heat/cold through the material of the frame itself. They have high durability allowing for a longer life span.

Fiberglass windows obtain a high R-value and low U-value (Insulation) and provide savings of approximately 20-40% in heating/cooling/energy costs over other window frame materials.

The most modern aluminum windows and doors for high rise apartments come with insulated sealed units. The thermal break of rubber or Styrofoam creates an insulation barrier from the exterior portion of the frame to the interior and enables Low-E and argon gas fills.

Unlike other frame materials, fiberglass framed windows can withstand and accommodate triple glazed sealed units.

Fiberglass window and door frames experience minimal expansion and contraction - Fiberglass frames reduce the likelihood of unit failure and caulking cracks and maintains superior performance with regard to air/water infiltration

The performance of a double glazed window/ insulated door significantly increases the energy efficiency and level of sound transmittance over a single glazed window.

Fiberglass windows and doors are highly recognized by those intending to reduce energy costs, increase the energy efficiency of a building or improve the sustainability of a building envelope.

Most existing apartment buildings today do not have these features.

FACTS TO KNOW 1. When replacing apartment windows and doors, it is important to address problems that may have been unforeseen to strengthen the building envelope's weather resistance (water and air) and maximize the functionality of the windows and doors themselves. 2. New window and door purchases might be eligible for government rebates depending on your area or recoverable in other ways. Make sure you ask your supplier to explain and go through all options available. 3. Life span of any new window and door is an opinion. Building owners may believe that the life span is 40 years, but in reality a window frame loses its efficiency after about 25 years.

4. Newly installed windows and doors will show improvement over previous units. Improvements can be experienced almost immediately after installation, when installed properly. Better room temperature comfort, less noise from outside and less drafts can be felt instantaneously. Other possible improvements are a reduction in heating/ cooling costs, which for some depending on area, could take some time to appear but over time can reduce energy costs.

Statistics and information provided by: Fibertec High Rise Aluminum Windows & Fibertec Fiberglass Windows

theANNUAL Ottawa – 57


5 things you should know Protect your real estate investment with thorough tenant inspections Statistics and information provided by:

5 risks that regular inspections mitigate

CTI Services

Any one of these is a warning signs for property managers and owners to watch for and prevent fires: These important things will help extend the life of your dryer, reduce replacement costs, help prevent fires and eliminate mold issues.

15:00:32 DONE

Machine is hot to touch

Clothes have a moldy smell after a dry cycle

Dryer repeatedly stops during a cycle

No lint visible on lint screen

Statistics and information provided by: Dryer vent Wizard of Southwestern Ontario

58 – theANNUAL Ottawa


Tenant Inspection, Dryer Vents & Lighting Brighten up your building, make it last with LED lighting Similarities Offered in variety colour of temperatures Effective for cycling on/off Easy to dim Renders colours well

INCANDSCENT

LED

Great CRI Ratings Maintains strong luminescence Cheaper to buy than LEDs Highly adaptable

Considerably longer life span No warm up time Much more diverse lighting system Energy efficient

“By taking advantage of local incentive programs, you can reduce the cost of your project by about 50%, and with an LED replacement, you can see overall savings of up to 70%. Also, by going further and ensuring that the colour temperature is correct for each room, your tenants will have greater enjoyment of the unit”

Statistics and information provided by: All Professional trades Inc,

theANNUAL Ottawa – 59


5 things you should know Roofing As-needed Approach v.s Preventative Approach

Makes patch repairs

Over a 20 year period, an as-needed approach will cost an average of $458,484* more in repairs •

Visual survey every spring & fall

Non-destructive moisture test every 2-5 years

Minor repairs based on findings

1,000,000

Conclusion

800,000

600,000

Over the course of a 20-year period, maintaining an aggressive preventative maintenance approach will cost an average of $367,500* whereas a fix-it-as-it-happens approach will cost an average of $825,984 in the same amount of time.

400,000

200,000

Statistics and information provided by:

0

*Cost based on a 100,000 sq. ft. building

60 – theANNUAL Ottawa

I.M.L. ROOFING & SHEET METAL SYSTEMS INC


REWARDING RETROFITS

Incentives up to

$100,000

Incentives of up to $100,000 Looking to cut your operating costs? Why not look at upgrading your building’s equipment? You can lower energy costs and improve resident comfort. Enbridge Gas Distribution provides cash incentives of up to $100,000 for a wide range of energy saving measures, from installing high-efficiency boilers to control upgrades. Free in-suite incentives like low-flow showerheads and heat reflector panels are also available for qualified buildings.

Let’s get started.

Here are just some of the measures we support: • High Efficiency Boilers • Variable Frequency Drives on Make-Up Air and Air Handling Units • Heat Reflector Panels • Low-Flow Showerheads • Control Upgrades • Heat Recovery • And numerous operational improvements

There are solutions and retrofit rewards for all budgets. For more information about this FREE service, contact: Cam Black, Enbridge Energy Solutions Consultant energyservices@enbridge.com (416) 758-4748 energyretrofits.ca


INC. Canada’s One-Stop Source for the Rental Housing Industry

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theANNUAL Ottawa 2018  

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theANNUAL Ottawa 2018  

theANNUAL, theANNUAL Ottawa, Ottawa, EOLO

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