As the demand for office real estate falls globally, converting offices into luxury residential apartments could be an attractive solution for investors. Many companies are reducing the office space they are using to cut overhead costs. Meanwhile, demand for residential real estate has climbed in many markets, which is what makes converting offices to residential
Like many cities throughout North America, Toronto is suffering a housing shortage, particularly in affordable housing. In the face of climate change, there is a demand for sustainable housing as well. In response to this, developers in Toronto have become creative. One of the new developments in progress is Quayside, which will be located near
So far in this Building the Right team series, we have covered intrapersonal skills in Part 1, and in Part 2 we discussed interpersonal skills needed to build a successful team. In the final part of this series, we talk about soft skills that have both intrapersonal and interpersonal aspects. 6. Problem solving Being able
In the first part of this series, we talked about the intrapersonal skills personnel need for a team to be successful. In Part 2, we will talk about interpersonal skills. Interpersonal skills refers to the soft skills used to relate to other people. Many of these are intrinsically linked to intrapersonal skills, like having an
Over 1 million new immigrants and non-permanent residents (most of whom are international students) came to Canada last year. This contributed to the demand for rental housing, particularly near universities and colleges, while the growth in rental supply has been insufficient to meet the demand. Rental increases are making it harder for students to find
Building loyal and trusted relationships with business partners, providers, and clients is critical to the success of any organization. Those relationships facilitate being able to break down complex issues to identify accurate and timely solutions. Having someone who has technical expertise in a particular area is critical for that process, but soft skills and qualities
The Canadian ban on foreign homebuyers has been amended to address some of the pitfalls of the legislation. Previously, the wording of the ban kept businesses with 3% foreign ownership or more from purchasing and developing land for residential and mixed use purposes. This held back home developers that were partly owned by non-Canadians. The
Yardi Spreadsheet Reporting (YSR) is a powerful tool that generates high quality reports. Users are able to benefit from an array of formatting and graphing features through programs like Word and Excel. This allows for the creation of excellent reports that can be vital for business success. As with all tools, there are best practices
The weakening of the commercial real estate sector is causing speculation that banks could be headed for trouble. An increasing number of large properties are going into default, and more are being added to watchlists for loans that may be in jeopardy. Quickly rising interest rates are causing concern that investors who are up for
AI is becoming increasingly prevalent across industries, including commercial real estate. Currently, AI tools like ChatGPT help check grammar and tone in marketing materials, property descriptions, letters of intent and right of first refusal contracts. Although it is a helpful tool, there can be issues regarding AI picking up incorrect information, and plagiarization. Despite these
