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Drake Property Management:

Focused on trust, service, and community By David Gargaro

At RHB Magazine, we appreciate the numerous privileges of covering the rental housing industry. We get the opportunity to build relationships with industry leaders as they grow into their roles and define industry trends. We also get to watch companies evolve over time: sometimes loudly, sometimes quietly, but always in response to the pressures and possibilities of Canada’s volatile rental housing market. Some organizations emerge as disruptors, others rely on scale, and a few carve out their identity over years by staying close to the needs of their communities. Drake Property Management (Drake PM) is one of those companies that have managed to maintain a low profile—they haven’t appeared on our radar until recently. Their work isn’t always public facing, but their footprint across the Greater Toronto and Hamilton Area (GTHA) has grown steadily. And we expect things will change. That’s thanks in part to industry veteran Hero Mohtadi, who recently joined the company as Executive Vice President of Property Management. We’ve covered her leadership journey for several years. And that’s why it’s the right moment to take a closer look at the property management firm and the reason for her move.

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Background Drake PM has been in business for about 15 years, although its foundation goes much deeper. Their portfolio is backed by more than 50 years of ownership and management experience. The Brampton-based firm has developed operating partnerships with rental property owners across the GTHA. Founded in 2009, the company started out by managing a modest portfolio of small multi-family buildings. From the beginning, they’ve established a clear direction: build a property management platform that prioritizes resident stability, operational consistency, and long-term value creation. This approach has continued to fuel their growth, as they currently oversee over 6,000 units in more than 60 buildings and 17 communities, supported by more than 70 employees. They are also on track to manage more than 10,000 units within the next two years. From the outset, ownership has focused on managing older purpose-built rental properties. They believed this segment of the rental housing market would benefit from a property manager that could provide institutional-quality operations while also maintaining their community-focused character. To achieve these goals, they developed structured property management systems, set clear service expectations, and followed a longterm stewardship mindset. They also prioritized long-term stability over short-term gains. “What led me to Drake was the opportunity to take my experiences of team creation, operational excellence, DEI-driven leadership, cross-border insight, and a deep understanding of the current market, and help build a best-in-class, adaptive property management platform that can grow with the portfolio, especially in secondary markets where the need and opportunities are strong,” said Hero.

Operating with an owner’s mindset includes three key elements: 1. Structure and accountability: They run every building (both newly added and longstanding) through the same structured onboarding process. They follow the same standards for inspection, service, staffing, and reporting. This provides ownership with a clear understanding of what to expect, while residents experience the same level of responsiveness. 2. Predictability: They focus on reducing turnover, improving building performance, and driving operational efficiencies. They employ disciplined practices rather than cost-cutting measures to produce stability of results. 3. Long-term thinking: Being an owner means pursuing long-term value over short-term gain. Capital improvements are geared to benefit building owners and residents for years and decades. They take a measured approach to ensure asset viability, resident impact, and lifecycle planning. This mindset resonates with owners and their residents. Being consistent in delivering operational excellence produces loyalty from both groups. That means being proactive, reliable, and solutions oriented, communicating clearly, and identifying efficiencies and value creation strategies to enhance the resident experience. “People stay when they feel their homes are cared for and their concerns are taken seriously,” said Hero. “That is how you build long-term stability and strong communities.”

Even with their growth, the property management firm has managed to maintain a relatively low profile. They’ve focused on doing the work: stabilize older buildings, support residents, and manage assets for long-term stability and growth.

An owner’s mindset

Older buildings face numerous challenges:

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Managing aging rental housing stock As stated earlier, the property manager has targeted older purpose-built rental buildings, which were built between the 1960s and 1980s. These assets form the backbone of the more affordable rental housing stock across the GTHA. These types of properties tend to be home to diverse, multigenerational communities. However, they also require a high level of care and management.

Drake PM has grown by establishing longterm partnerships with building owners. They operate with an owner’s mindset, treating every building under management as if it were part of their portfolio, adhering to an owner’s level of discipline, care, and commitment to the long term. This approach has driven their growth, rather than the pursuit of opportunistic expansion.

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Hero Mohtadi Hero Mohtadi has more than 20 years of experience in the multi-residential sector across institutional, private, and public platforms in Canada and the U.S. She built her career from the ground up, starting out as a leasing consultant. Because she began in customer-facing roles, Hero developed a strong foundation in service, communication, and resident experience before moving into senior leadership positions that involved overseeing multi-family portfolios in major national markets. Her work has included launching purpose-built rental communities and building and leading high-performing teams. Prior to joining Drake Property Management, she worked with Bentall Kennedy, Hazelview Properties, Timbercreek Properties, and Dream Unlimited. Hero has earned multiple industry accolades, including several FRPO MAC Awards for product, property, and team excellence. In 2024, she received the National Women in Real Estate (WIRE) Award, recognizing her leadership and contributions to the sector. Hero’s involvement in tenant advocacy, industry associations, and community-focused initiatives has further shaped her leadership lens. She serves on the Board of Directors of the Greater Toronto Apartment Association (GTAA) and on the Board of WomanACT, which reinforces her dedication to advancing equity, inclusion, and long-term community building within the housing sector. “What’s driven me throughout my career is building strong, empowered teams and creating operating platforms that are scalable, disciplined, and resident-focused,” said Hero. “Team development, mentorship, and inclusion have always been central to my leadership style. As the market has shifted and vacancy rates tightened, rental demand outpaced new supply, and PBRs began to consistently outperform condos on stability and rent levels, my work increasingly centred on designing platforms that can thrive in a tougher environment, balancing affordability pressures, regulatory complexity, and high resident expectations.”

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seasonal programs, and system checks to detect and treat issues before they escalate. They also engage in proactive capital planning, building multi-year capital plans that focus on asset preservation and resident safety. The company maintenance requests through a centralized platform that tracks responsiveness, completion times, resident communication, and escalation. Real-time dashboards and regular inspections ensure building conditions remain stable and predictable. Key performance indicators (KPIs) allow owners to track performance, covering factors such as: • Service response times • Building inspection results • Elevator uptime • Vacancy and days-on-market • Reporting timeliness • Progress on capital projects • Regulatory compliance Management takes a practical approach to achieving sustainability across environmental, social, and governance (ESG) pillars. To help improve energy efficiency and sustainability, as well as extend building life while reducing utility costs, they have invested in: • LED lighting retrofits • Low-flow plumbing fixtures • Enhanced building envelope work • Mechanical system upgrades • Waste diversion initiatives

Community-focused service Two key tenets of managing their day-to-day operations are “building community” and “trusted service.” Building community involves clear communications, consistency of operations, and compassion for residents. Residents want to feel heard and supported. This is essential in older rental communities due to the number of daily challenges. The management team emphasizes: • Early engagement • Fast response to maintenance issues • Empathetic conflict resolution • Transparent communication Some challenges are unexpected, such as loss of income, medical emergencies or sudden hardships, which can lead to difficulties paying rent. Drake PM's Rental Support Program (RSP) provides temporary relief for residents experiencing unforeseen financial difficulties. Upon approval, residents may receive partial

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or full forgiveness of rent increases or a onetime rent credit, with no obligation to repay. The management team handles each situation confidentially and reviews them individually, reinforcing their commitment to supporting residents during times of need. The second tenet—trusted service—involves delivering on commitments with discipline. Management upholds structured service standards, rigorous inspection routines, strong emergency protocols, and clear communication channels. This ensures residents know what to expect from their buildings’ management team. The company’s management philosophy combines institutional rigour with communityfocused service. Their principles include maintaining accountable operations, transparent communication, KPI-driven performance, and consistent, respectful resident engagement. They train staff to deliver predictable service, resolve issues quickly, and maintain open lines of communication with residents and owners. With more than 70 employees, the company operates as a fully integrated management platform. Their team includes regional managers, on-site staff, maintenance technicians, CRM and resident-services support, 24/7 emergency response, AI-enabled leasing, and accounting and compliance functions. This structure allows the company to deliver institutional consistency across its expanding portfolio. They also provide new employees with onboarding and ongoing training, and supports them with standard operating procedures, field audits, and leadership engagement.

Attracting investors and partners The company’s growth strategy focuses on positioning the company as a modern housing provider. Their goal is to strengthen portfolio stability and drive performance above targets. These principles guide their approach to attracting investors that seek operational consistency, financial clarity, and a proactive leadership team. “When investors see that we operate with discipline, maintain strong resident communities, and manage assets thoughtfully, it reinforces confidence in the long-term potential of the portfolio and encourages future investment,” said Hero. To engage new or existing investors and partners, they focus on three core principles: 1. Understand what success looks like for them: Every investor or partner has different objectives (e.g., long-term value

creation, stabilization, revenue growth, ESG performance). Others may want to navigate municipal approvals or major capital programs. 2. Communicate clearly and set strong expectations: Investors expect disciplined operations, defensible NOI growth, and a clear strategy for responding to market shifts. Provide transparent reporting, proactive risk mitigation, and consistent communication. Demonstrate how decisions protect capital, enhance long-term value, and position the assets or portfolio for sustainable growth. 3. Offer practical solutions: Apply expertise in purpose-built rentals, value-creation strategies, capital planning, and strategies focused on efficiency and sustainability. Understand the nuances of federal immigration policy, provincial housing goals, and municipal approvals to develop actionable operating plans. “Investors and partners seek assurance that we can anticipate challenges, navigate uncertainty, and deliver a strategic, forward-looking path,” said Hero. “Across all relationships, the goal is the same: lead with understanding, communicate with clarity, and provide experience-driven solutions that support both individual assets and the longterm vision for the portfolio.”

State of the industry and opportunities for growth Costs continue to increase across the rental housing industry, including operational costs. There is growing demand to implement technology and automation to improve efficiencies and reduce costs. Population growth is still strong, which has helped to keep rental demand high, while vacancy rates have gradually eased from historic lows. It is difficult to pursue new development due to elevated construction and borrowing costs, which has increased pressure on property managers and owners to perform more efficiently and protect financial outcomes. While the need to control costs and improve financial performance is high, there is continued interest in pursuing environmental, social, and governance (ESG) strategies, community engagement, and improving the resident experience. Ownership believes it is positioned to do well in this type of environment as it has focused on building a platform that emphasizes

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efficiency, rather than retrofitting existing systems. “Our culture is grounded in accountability, entrepreneurship, and an ownership mindset, which is critical when investment teams and ownership groups require flexibility, transparency, and a clear path to value creation,” said Hero. “Our ability to customize our operating model across purpose-built rentals and vintage assets is a significant advantage. The strength of our internal culture, our commitment to inclusion, and our focus on growing strong leaders ensures we attract and retain the right talent to deliver consistently strong results.”

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Ownership has identified several key opportunities for growth: • Secondary and tertiary markets: These regions outside core major cities have clear provincial housing targets, growing populations, and limited access to sophisticated property management options. • Specialized asset classes: There is long-term demand to develop or repurpose purpose-built rental properties, co-living developments, mixed-income communities, and other purpose-designed rental formats. Being successful requires creating a flexible operating platform that can adapt across these different opportunities. • Technology, data, and AI integration: The industry has often lagged in technological integration. There are opportunities to improve leasing, operations, maintenance, and resident services. Data-driven decision-making, efficient systems, and AI-powered software can improve operational performance and support long-term asset value. •

ustainability and community-focused S development: Projects that incorporate low carbon systems, resilient infrastructure, and thoughtful community programming can create long-term differentiation. These approaches are attractive to both investors and residents.

“One of the largest opportunities continues to be people,” said Hero. “Building diverse, high performing teams, investing in leadership development, and empowering staff to think with an ownership mindset is a major competitive advantage. Strong teams drive strong assets, and that is especially important in a complex market.”

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