Property Management in Canada - Industry Market Research Report

Moving in: Low interest rates will boost investment in new construction, to the benefit of the industry

Property management is expected to marginally decline over the five years to 2023. Operators provide a variety of services related to the management of residential and nonresidential properties, which include collecting rent, screening tenants and general maintenance. As a result, the industry relies on Canadian residential and nonresidential construction. During most of the period, investment has driven demand for industry services. While the value of nonresidential construction has been muted over most of the five years to 2023, sustained growth in the value of residential construction and other favourable trends during have supported the industry. Property managers were able to navigate pandemic-related disruptions without seeing substantial declines in profit. A swift economic recovery further supported revenue in recent years. Over the five years to 2023, industry revenue is expected to drop at a CAGR of 0.3% to $8.9 billion, including an estimated drop of 3.2% during the current year as rental markets cool. Industry operators manages residential and nonresidential real estate for others. Property management responsibilities relate to the overall operation of the property, including maintenance, rent collection, trash removal, security and some renovation activities. Operators may also help manage a property’s accounting, but processes relating to the transactions of properties or real estate investments are not included in this industry. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.