How much do rental, leasing, and property management firms make?

by Steve Randall16 Mar 2020

Canadian residential and non-residential leasing and property management firms generated operating revenues of $115 billion in 2018, the latest year of stats released.

Statistics Canada revealed the figures Friday showing that residential leasing generated $46.6 billion, up 5.6% year-over-year with operating expenses up 4.8% to $30.7 billion.

Ontario had the largest share of residential rental income at 37.5%, followed by Quebec (25.9%), British Columbia (15.7%) and Alberta (11.5%).

Non-residential lessors’ revenue was $61 billion, up 5.4% from the previous year while operating expenses rose 6.9% to $39.2 billion.

Nova Scotia saw the highest increase though (7.2%) as rents grew 2.1% amid tighter inventory of rental units to a vacancy rate of 2%, a historic low.

Ontario had the largest share of non-residential rental income at 42.4%, followed by Quebec (18.9%), British Columbia (15.7%) and Alberta (14.5%).

However, it was BC that saw the highest growth among all provinces, at 7.3% year-over-year, along with the highest economic growth at 4%.

Real estate property management firms generated revenues of $7.4 billion, up 5.8% year-over-year. Operating expenses totaled $5.9 billion, up 5.9%.

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