MPM Blog

THE NUMBER OF RENTERS IN CANADA REACHES HISTORIC HIGH

The number of renters in Canada has risen to 33% of households, the highest percentage ever recorded. Financialpost experts have researched the rental market and concluded the following:   Twenty-eight out of the 50 largest cities in Canada have a higher proportion of renters than the national average. The proportion of renters in the country has steadily increased over the past decade,...

PREPARING YOUR HOUSE FOR SPRING: WHAT TO CHECK

Winter is over and it's time for a spring refresh and maintenance. To make the process easier for you, we have prepared a spring screening checklist. Here's a list of things to check, both indoors and outdoors. OUTSIDE SCREENING. Roof and tile. Cold weather, strong winds, and temperature extremes can cause damage to your roof and tile. Make sure that the surfaces are intact and undamaged. If...

Eco-Friendly Mold Removal Methods

Mold is an unwelcome guest in our premises, especially in damp and cold environments such as bathrooms, basements, and attics. This unpleasant attribute not only ruins the appearance of the places but can also seriously harm your health. Stale air, dry cough, headaches, and allergic reactions are just some of the possible consequences of living in a mold-contaminated environment.   Despite mold...

STUDENT RENTAL INSIGHTS: BENEFITS AND CHALLENGES

Renting property to students can be beneficial, but certain aspects should be considered before taking this step. Here are some advantages and disadvantages of this type of rental:   Advantages:   High Demand: Property located near universities and colleges often finds its tenants among students.   High Profit Potential: Owners can earn more through higher rents for students or...

PROPERTY UPGRADES THAT ARE WORTH IT

Repairing and upgrading a rental property requires a careful approach.  We have researched the impact of the most common types of upgrades on rental pricing and income.   Types of Repairs:   It’s worth understanding the different types of repairs or renovations a rental property can undergo. The main types include:   Routine Maintenance: This type of repair focuses on...

Housing crisis is raging across the province of Newfoundland and Labrador.

All across our beautiful island, worsening housing conditions, a shortage of affordable housing, and housing security issues are observed.   A study conducted jointly by the Municipalities of Newfoundland and Labrador and the organization Choices for Youth analyzed housing conditions in 11 communities across the province through interviews with key figures and focus groups including municipal...

City of St. John’s Receives over $10.4 Million from Housing Accelerator Fund

The city of St. John’s is set to invest $10.4 million in programs aimed at addressing the housing crisis. According to estimates, the city currently needs between 1025 and 1335 new housing units, with this need potentially rising to 3610-5310 units by 2033.   Funding for these initiatives will be provided by the Housing Accelerator Fund (HAF). It is planned to allocate these funds to construct...

HOW MUCH TO SPEND ON PROPERTY MAINTENANCE TO SAVE EFFECTIVELY

Investing in the maintenance of your property is similar to supporting the health of a living organism. Whether it's residential real estate, commercial property, or personal assets, timely and regular maintenance can prevent serious issues and help avoid unexpected expenses in the future.   Property ownership comes with expenses, but is it always necessary? Let's explore how to optimize them...

RESIDENTIAL DEVELOPMENT IN MOUNT PEARL: ACTION PLAN

The Canadian government continues to implement initiatives to improve housing accessibility for its citizens. Housing remains a key focus area for the government, and collaboration with municipalities and other stakeholders is crucial to achieving this goal.   On February 26, 2024, an agreement was announced between the Canadian government and the city of Mount Pearl to expedite housing...

ACCELERATING UNIT TURNOVER: A PROPERTY MANAGEMENT GUIDE

Vacant units are more than empty spaces—they're missed opportunities for property managers. Turning over a unit efficiently after a tenant vacates is critical since each idle day equates to lost income. Therefore, crafting a solid strategy to reduce vacancy duration is essential. Below you'll find actionable advice to shorten the turnover time—the period between the departure of one tenant and the...

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