Technology is transforming the way social housing providers manage properties. The technological advancements that have already transformed financials and operations are now automating resident-based transactions. The results are increased efficiencies for clients and greater empowerment for staff. Peter Altobelli, vice president of sales and general manager for Yardi Canada, explored four benefits of technology for applications and waitlists in the Ontario Non-Profit Housing Association Procurement Newsletter. Check out a sneak peek of the article below. Revolutionized Application Process Traditional social housing applicant intake processes rely heavily on in-person interviews. Those interviews run the risk of miscommunications and require a lot of time for your staff and prospective residents. “Online, self-service application workflows present each applicant with a consistent experience, conveniently available 24/7. Applicants can submit their information when it’s most convenient for them from any web browser with digital accuracy. This provides more efficient use of staff’s time when reviewing applications,” said Altobelli. Manage Waitlists in Real-Time Using conventional mail notifications, updating waitlists is a lengthy process. Convenient online user portals connect waitlisted households to leasing office staff in real-time. “Connected technology makes it possible for social housing providers to efficiently upload documents, respond to housing offers and notify staff of changes and pending approvals, in real time, and maintain updated waitlist,” explained Altobelli. Innovative technologies enable staff to meet the needs of applicants and residents while reducing administrative workloads for staff. Get the full story, including the benefits of electronic CRM, at...
Rental Market
Ontario Update
If you’re a Canadian property owner, manager or renter, here is the scoop from this year’s Ontario Rental Market Overview & Outlook. Hosted by Canada Mortgage and Housing Corporation and Federation of Rental-Housing Providers of Ontario, the market survey results were presented at the FRPO & GTAA (Greater Toronto Apartment Association) Rental Market Update Breakfast that took place on February 8, 2018. Industry leaders attend these sessions to gather key analytical data about marketing and rent trends along with policy updates for the apartment and purpose-built industry. CMHC’s Ted Tsiakopoulos, regional economist, and Dana Senagama, principal, market analysis for the GTAA, spoke about the new data released in this year’s report. While the presentations focused on Ontario, the report also includes information about other provinces. Keep reading for some key takeaways. Tightening Up Since 2015, Ontario’s economy has been growing faster compared with the rest of the country, and it’s not surprising that Ontario and British Columbia are still the tightest rental markets. Toronto is experiencing record low vacancy rates, influenced by the job market, demographics, cost gap, expectations and new rental supply. Due to lack of supply and slow building, the GTAA also reports accelerated rent growth – up 4.2%. The expectation is that vacancy rates still have room to fall – and rents will keep growing. Regarding housing types, there’s a higher domestic investment in condos, with 32.7% of condo units rented in 2017 (compared to 30.1% in 2015, and only 18.8% in 2008). Condo rentals significantly outpace apartment rentals. Rentals show a flattening out in the growth trajectory, and new building trends, there is the added challenge of lengthy construction timelines (up to three years). Shifting Demands With renter households outgrowing supply, demand in Ontario is shifting to less expensive housing....
