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Canadian investors shop abroad for data centres

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Canadian investors have been actively shopping abroad for data centres over the past three years. New analysis from MSCI shows that 40 per cent of outbound capital for commercial real estate flowed to that asset class during the 11 quarters from Jan. 2023 to Sept. 2025 — a dramatic upward surge from roughly 2 per cent of cross-border investment during the period from 2015 to 2022.

That occurred while office properties dwindled to just a 4 per cent quotient of Canadian expenditures on foreign commercial real estate during the Q1 2023 to Q3 2025 period, down from 26 per cent over the preceding eight years. Meanwhile, the United States continues to be the most prominent destination for outbound Canadian capital, but its dominance was more muted than usual during the first nine months of this year.

MSCI charts a roughly CAD $25.6 billion (USD $18.3 billion) outflow to the 10 top global destinations for Canadian investment during the first three quarters of 2025. About 30 per cent or CAD $8.2 billion (USD $5.8 billion) was channelled to purchase U.S.-based assets, lagging behind the 56 per cent share the U.S. has historically captured since 2007.

Approximately CAD $3.7 billion (USD $2.65 billion) worth of investment in the United Kingdom represents a slight increase over the historical norm, while CAD $3.15 billion (USD $2.25 billion) of investment in Hong Kong is a significant uptick for a region that more typically accounts for about 1 per cent of foreign property purchases. Similarly, Canadian investors purchased about CAD $2.4 billion (USD $1.7 billion) worth of Malaysian assets, equating to nearly 9 per cent of foreign expenditure over the first three quarters, but, historically, less than 1 per cent of outbound capital has flowed there.

Nevertheless, there’s little likelihood that the U.S. will lose favour to the degree that office properties have. The MSCI analysis underscores its global dominance as the home base for nearly 43 per cent of all investable assets in the global commercial real estate markets. It’s currently one of the most developed markets for the data centres Canadian investors are seeking but, beyond that, they have a long familiarity with all U.S. asset classes.

“With such a high concentration of assets, Canadian and other global investors looking to deploy capital worldwide have simply needed to continue targeting U.S. investments,” the analysis reasons. “The political changes in the U.S. may be troubling to these investors, but, so far, asset availability trumps the political situation.”

Dire state of GTA, GGH new home market may intensify

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The struggling new home market across the Greater Toronto Area (GTA) and Greater Golden Horseshoe (GGH) is poised to worsen before conditions improve, according to a new comprehensive report commissioned by the Residential Construction Council of Ontario (RESCON).

The analysis, conducted by the University of Ottawa’s Missing Middle Initiative, reveals that housing starts in the first nine months of 2025 are down substantially compared with the same period over the previous three years, while residential construction job losses continue to mount.

“We are staring into the abyss,” said RESCON president Richard Lyall. “The new home market has tanked. It is a particularly dark time for those who work in residential construction. There have been significant job losses across the board. Projects are being shelved, and this will have a significant trickle-down effect on Ontario’s economy. We must act quickly to stem the bleeding.”

The report draws on data from the Canada Mortgage and Housing Corporation and Altus Group, assessing 34 municipalities across nine metro areas in the GTA and GGH. It is RESCON’s second analysis this year; the first, released in September, covered the first six months of 2025.

Key findings from the new report include:

  • Housing starts are down 34 per cent in the first nine months of 2025 compared with 2021–2024;
  • Condo apartment starts plunged 51 per cent over the same period; and
  • Purpose-built rental starts rose 42 per cent, offering a rare bright spot in the market.

The research also graded municipalities on housing starts and sales. Seventeen of the 34 municipalities received an F, nine a D, and the remaining eight scored a C or higher. Average grades have improved slightly from the earlier report, but researchers warn the trend could deteriorate in future analyses.

The decline in construction activity is having a noticeable impact on employment. The report estimates that lower housing starts in the first nine months of 2025 translate into 35,377 fewer person-years of employment compared with the same period in the previous three years.

“The person-years of employment in the industry are down which shows the effect that the lack of housing starts and sales is having on the industry and the economy,” said Mike Moffatt, an economist and founder of the Missing Middle Initiative. “The negative trend in employment has continued and there is significantly less work in the residential construction sector.”

The report comes at a critical time. Both the federal and Ontario governments have pledged to increase housing starts significantly, but experts say these targets may be out of reach.

High taxes are a major factor. Fees, levies, and taxes account for roughly 36 per cent of a new home’s cost, meaning a $1-million home includes about $360,000 in taxes. RESCON has called on both levels of government to eliminate sales taxes on all new homes, beyond the exemptions already offered to first-time buyers.

“This report is an eye-opener, as it notes we are trending in the wrong direction and the situation could get even worse,” added Lyall. “Builders need to be able to build homes that people can afford. Steps must be taken to get the industry back on track. Our economy depends on it.”

How does scent affect perceived restroom hygiene?

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Hygiene has become a critical component of restroom cleanliness in recent years, but what role does scent play? While it may seem like common sense to try to offer fresh-smelling restrooms, knowing which scents improve the users’ impression of your business can help you offer a better customer experience.

Studies show that 76 per cent of people associate bad odours with dirt and germs, and a bad smell in a restroom can negatively affect the overall experience a user has with your business. Restroom experience can also impact your business internally, as more and more employees are concerned with the indoor air quality at the workplace. Focusing on providing a positive, hygiene-focused experience can leave a lasting impression on guests and staff.

“Scent is one of the fastest ways users form an impression of cleanliness and care, especially in washrooms where hygiene expectations are high,” said Matt Wonnacott, Founder of Ennovamark. Wonnacott’s recent research provides insight into how restroom scent influences the perception of a company’s hygiene and helps shape the impression users form about your business.

Users don’t trust overly sweet or synthetic scents: Floral or heavy perfume-like scents often create the suspicion that they are trying to mask poor smells.

Scent can reduce restroom complaints: Companies with low-volume, continuous scent diffusion received an average of 22 per cent fewer cleanliness complaints, with users reporting higher confidence in maintenance, ventilation, and air quality.

Scent is associated with hygiene: Clean-coded scents like citrus, herbal-green, and light mineral improve the impression of cleanliness by up to 40 per cent, without any change to cleaning routines.

Scent influences user behaviour: When restrooms smell clean, users treat their surroundings better, becoming less likely to litter, leave waste, or behave carelessly. Beyond the perception of hygiene, this suggests scent can help define user behaviour and benefit staff workload.

This research provides evidence that restroom scent is an important part of cleaning and maintenance, affecting user experience and the perception of your business. Facility managers and cleaning staff should focus on selecting a successful scent and avoid over-scenting to improve perceived cleanliness, efficiently manage labour, and provide a positive restroom experience.

H&R shrinks retail holdings via pending sales

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H&R Real Estate Investment Trust (REIT) will offload most of its retail holdings and three office properties through $1.5 billion worth of pending sales to multiple unnamed buyers. The deals align with the REIT’s intention to focus primarily on industrial and residential properties, while also reducing its debt load.

The retail sell-off includes 27 Canadian properties and the REIT’s one-third, non-managing interest in ECHO Realty L.P.’s retail portfolio in the United States, which encompasses 45 multi-tenant retail centres located in eight states. Meanwhile, H&R’s previous plan to develop a large mixed-use project at 145 Wellington Street West in downtown Toronto is unequivocally dead with the looming sale of the office building on that site.

The other office sales include: the Hess Tower in downtown Houston, which faces 33 per cent vacancy with the scheduled departure of its marquee tenant, Hess Corporation, in June 2026; and 88 McNabb Street in Markham, Ontario, a 75,000-square-foot office building on a 3.5-acre site.

“These sales accelerate the REIT’s portfolio simplification strategy,” says Tom Hofstedter, H&R REIT’s executive chair and chief executive officer. “In June 2021 when we announced the strategy, our residential and industrial segments amounted to 35 per cent of our total portfolio. After these sales, our residential and industrial segments will amount to 83 per cent of our total real estate assets. We will begin to market a number of other properties to aggressively accelerate this strategy.”

The REIT will apply $1.1 billion of the sales proceeds to reduce its corporate debt. As well, the purchaser of H&R’s share of the ECHO retail portfolio will assume $369 million of the vendor’s debt.

Once the transactions close, H&R’s sole retail property will be roughly 342,000 square feet in a mixed-use development in Miami, equating to about 3 per cent of its total inventory. The quotient of office properties will dip to 14 per cent, from the current 16%, and the REIT has reported that negotiations are in progress for two other Toronto office properties.

Those deals aren’t expected to be announced before the end of this year, but they include a three-building complex on Toronto’s Front Street, which the REIT had previously eyed to redevelop for residential uses, and the 21-storey Nestlé Building at 25 Sheppard Street West in Toronto’s North Yonge corridor.

VRCA 2026 student bursary application open

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The Vancouver Regional Construction Association (VRCA) is now accepting applications for its 2026 Bursary Program, which provides up to $3,000 to students pursuing careers in the construction sector. Designed to support the next generation of builders, the program helps bridge the industry’s growing workforce gap and empowers students to attain high-demand, hands-on careers. 

Eligible applicants include full-time post-secondary students, as well as Grade 12 students exploring careers in trades such as carpentry, electrical, flooring, and plumbing – as well as fields like construction and project management.

“Since 2023, the VRCA has been proud to support emerging construction professionals through our Bursary Program,” said Jeannine Martin, President of the VRCA. “This financial support helps students stay focused on their training and opens doors to meaningful, long-term careers in one of B.C.’s most essential industries.”

VRCA’s Bursary Program is just one of the ways that the association helps to shape and inspire the next generation of builders. VRCA’s Bring Trades to Schools (BTS) program gives students hands-on experience with carpentry, masonry, electrical, mechanical, ironwork, and heavy equipment operation simulation with guidance from industry experts. In just a few short years, the program has grown from just 15 students to over 580, connecting youth, schools, industry partners, and post-secondary institutions.

“Programs like the VRCA Bursary and Bring Trades to Schools are critical to strengthening the talent pipeline,” added Martin. “By giving students real exposure to the trades and the confidence and resources to pursue these career paths, we’re helping to build a resilient workforce and ensuring the construction industry continues to thrive.”

Recipients of the VRCA Bursary will be announced publicly in February at the VRCA Annual General Meeting, where they will receive their awards in person.

 

Construction labour shortage increasing costs

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Labour shortages in the residential construction sector are contributing to the rising cost of housing and increasing insurance claims costs, according to a report released by The Conference Board of Canada (CBoC).

“Building Under Pressure – Skilled Trades Shortages and Rising Construction Costs” finds that unless urgent action is taken by governments, the labour shortages will get worse, drive-up inflation and cost Canadians close to an extra $8 billion annually by 2045.

“The construction sector will continue to face challenges as it deals with an aging workforce and an increased demand in housing, among a variety of other factors,” stated Tony Bonen, executive director, Economic Research, at CBoC. “Stakeholders and all orders of government will need to work collaboratively to ensure Canada has the skilled workforce necessary to meet the growing need for housing.”

Key findings in the report include:

  • Job vacancies among skilled trades in the residential construction sector have grown at an average rate of 11% per year and that number is expected to increase to 13% per year between 2026 and 2045.
  • By 2045, the shortage of skilled trades could reach 32,000 people, which would likely cause prices in the sector to increase by 2.3% and add $7.9 billion to the annual cost of residential renovations and repairs.
  • The rising frequency and severity of natural catastrophes, as well as increasing demand for housing, is adding to the strain on the labour supply.
  • Skilled-labour shortages contribute to insurance claims cost pressures by increasing construction labour costs and by lengthening timelines for rebuilds and renovations. These factors go into insurers’ calculations for premiums.

“Insurance Bureau of Canada (IBC) has been raising concerns about labour shortages for years, as they have a significant impact on insurers’ ability to help Canadians recover in a timely manner after a natural catastrophe,” said Maximilien Roy, vice-president, Strategy, IBC. “At the same time, we are seeing governments across Canada rush to tackle the ongoing housing crisis and, too often, planning decisions are being made that place new housing in areas at high risk for flooding, fire or hail.”

IBC recently released its Three-Point Resilience Plan to Better Protect Canada from Natural Disasters, which outlines key priorities for governments aimed at better protecting communities across the country.

 

 

Empirio Capital expands Edmonton footprint

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Vancouver-based Empirio Capital is deepening its presence in Alberta’s capital city with the acquisition of a second multifamily property, a 133-unit rental property known as McConachie Villas. The newly built and fully leased rental townhome community in northeast Edmonton was purchased from Impact Properties for $47.14 million.

The deal adds to Empirio’s growing portfolio in the city, where it already owns Arcadia Place, a 159-unit property located just a block away.

McConachie Villas, situated at 17620 65 Street NW, is located in a rapidly expanding residential district. The homes average 1,508 square feet, with the majority—about 83 per cent—configured as three-bedroom units.

In addition to expanding in the area, Empirio Capital announced it will bring property management in-house for both McConachie Villas and Arcadia Place, ending its reliance on third-party operators. The move signals the firm’s intent to strengthen operational control, enhance tenant services, and build efficiencies as it scales up in the Edmonton market.

“By consolidating management under our own team, we can better align operations with our long-term investment strategy and deliver a consistent resident experience,” the company said in a statement.

Financing for the deal was arranged by GreenBirch Capital Inc., while Institutional Property Advisors (IPA) provided advisory support.

The expansion comes amid rising interest in Edmonton’s rental market, driven by affordability relative to other major Canadian cities and strong absorption of purpose-built rental units. The firm’s decision to cluster assets in the same neighbourhood reflects a deliberate strategy to achieve economies of scale and operational synergies.

With two sizable properties now under its direct management, Empirio Capital is positioning itself as a growing player in Western Canada’s multifamily investment landscape.

Push to ‘buy Canadian’ boosts winter property market

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Canada’s favourite ski spots are seeing a comeback among recreational properties, as sales and prices have climbed in 2025 after last year’s downturn.

The Royal LePage Winter Recreational Property Report, which analyzed data from the first nine months of this year, found the median price of a detached home rose 3.8 per cent year-over-year to $982,000.

“Modest interest rate relief and a growing ‘Buy Canadian’ mindset helped reignite demand for slopeside chalets and mountain retreats,” notes Phil Soper, president and chief executive officer, Royal LePage. “While economic uncertainty continues to weigh on many urban markets, buyers seeking winter escapes are pushing ahead – demonstrating once again the resilience and enduring appeal of Canada’s recreational regions.”

Recreational property markets have shown greater resilience than major cities, buoyed by steady demand and firmer sales activity across the country. Most of the markets covered in the report recorded a year-over-year increase in sales activity and more than three quarters recorded an increase in the median price of single-family homes.

“An early blast of winter across Southern Ontario, Quebec and Atlantic Canada has already energized recreational property owners and winter sports enthusiasts. The early snowfall has set a strong tone for the season ahead,” said Soper. “Canada’s recreational markets remain remarkably strong, driven by steady demand for ski and mountain properties and the growing desire for seasonal homes that offer relaxation, adventure, and connection to nature. With resorts gearing up for what’s expected to be an active season, momentum in these markets is expected to build.”

Canadians look to vacation at home amid U.S. trade tensions

Canada’s housing market stalled in the third quarter of 2025, with national home prices barely rising—up just 0.1 per cent year-on-year to $816,500—and slipping 1.2 per cent from the previous quarter, according to the latest Royal LePage House Price Survey and Market Forecast. Recreational property markets have held up far better, supported by financially flexible buyers and limited supply. Nearly half of property experts say lower interest rates have boosted demand this year.

Political and economic tensions with the U.S.—and the resulting “Buy Canadian” push—are reshaping how Canadians vacation. Statistics Canada reports a year-over-year drop in Canadians’ return trips to the U.S. by car each month this year. The shift is spilling into recreational real estate: 47 per cent of Royal LePage experts report increased interest from domestic buyers, while 27 per cent say inquiries from American buyers have also risen.

Soper explained how a favourable exchange rate is drawing more interest from American buyers, especially since recreational properties are largely exempt from Canada’s foreign-buyer rules.

Region by region

In the first nine months of the year, the average price of a single-family detached home in British Columbia’s popular ski regions increased 1.8 per cent year-over-year to $1,796,000, while the median price of a condominium increased 9.5 per cent to $528,500. In the province’s recreational market, the median price of a single-family detached home is forecast to rise 3.5 per cent over the next 12 months.

In Whistler, B.C., the average price of a single-family detached home was essentially flat, decreasing just 0.2 per cent year-over-year to $3,563,300, while the average price of a condominium increased 20.3 per cent to $702,000. Those looking to buy a house or condo slopeside or at a mountain base, will find prices typically starting at $3,000,000 and $450,000, respectively. Frank Ingham of Royal LePage Sussex said the condo market has regained momentum there, with rising demand and prices—especially for units usable year-round or those offering fractional ownership, which lets several buyers share a vacation property at lower cost.

For recreational properties in Ontario’s Southern Georgian Bay Area, which encompasses Collingwood, Meaford and Thorbury, the median price of a detached home rose 3.9 per cent to $886,000, while condos fell 6.1 per cent to $589,000. Slopeside homes and base-area condos start at around $1.5 million and $500,000, respectively, with total sales up 18.8 per cent year-over-year.

“Buyers from communities within the Greater Golden Horseshoe remain our largest source of demand,” relayed Desmond von Teichman, broker, Royal LePage Locations North. “This past season also brought more consistent natural snowfall, which has helped attract buyers drawn to the region’s skiing, snowmobiling, and resort offerings.”

In Alberta, specifically Canmore, the median price of a detached home rose 9.5 per cent to $1.86 million in the first nine months of 2025, while condos fell 1.3 per cent to $754,700. Homes near the Nordic Centre start at $1.1 million with total sales down 7 per cent year-over-year. “Most of our buyers come from Alberta’s major cities, such as Calgary, Edmonton, and Red Deer, though we do see occasional interest from Saskatchewan and Manitoba,” said Brad Hawker, associate broker, Royal LePage Solutions. “There’s also been a modest uptick in inquiries from U.S. buyers exploring opportunities given the favourable exchange rate.”

The region’s two largest developers have kicked off a major multi-phase housing project, featuring a new resort village, as other builders expand commercial and residential developments across the town.

“Together, these projects signal an exciting period of growth and transformation for the community,” said Hawker. “As inventory levels continue to rise and buyers take more time to find the right property, we expect to see more moderate price growth in the coming year. Uncertainty stemming from ongoing tariff tensions and 51st state rhetoric south of the border will continue to create a mix of hesitation and motivation among buyers as well.”

 

Housing market forecast signals easing conditions

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The Canadian housing market may be poised for a modest rebound heading into 2026, with buyer confidence and a projected 3.4 per cent rise in home sales next year. REMAX Canada’s latest Housing Market Outlook follows a noticeable uptick in buyer interest this fall.

Figures from brokers, agents and local real estate boards show that home sales fell year-on-year in 19 of the 33 markets reviewed between January 1 and October 31, 2025, The downturn followed a sharp shortage of listings in 2024, however, conditions have shifted this year. Listings rose across 75.8 per cent of regions, easing pressure on buyers and contributing to a drop in average prices, with a further moderation of – 3.7 per cent expected in 2026.

A new Leger survey for REMAX Canada of 1,537 Canadians, conducted between October 24 and 26, 2025, suggests renewed interest among prospective homebuyers. One in 10 respondents said they intend to purchase a property in the next year. Half of them are first-time buyers. The poll also found that nearly a quarter of respondents would consider entering the market if interest rates were to fall by a further 0.5 to one percentage point. Those aged 18 to 35 are more hopeful, with 21 per cent feeling the economy will fare better next year.

Analysts say softer prices and signs of easing on the interest-rate front could point to gradual market improvement. “Amid looming economic clouds, Canadians are maintaining their interest in homeownership,” added Don Kottick, president of REMAX Canada. “The resilience that began to emerge in the fall is anticipated to continue into 2026, with first-time buyers in particular finding creative ways to save and enter the market.”

Potential impacts of return-to-office mandates

First-time homebuyers expressed concern about a rise in return-to-office mandates. While nearly half of respondents overall do not believe this will impact their situation, respondents aged 18 to 34 and those planning to buy in the future are thinking more about how this might affect their search and 17 per cent of Canadians are concerned about such’ mandates.

“Return-to-office mandates are beginning to weigh on first-time buyers’ decisions, prompting many to reconsider not just where they want to live, but how their daily routines, commute times, and lifestyle needs will fit into an in-person work environment,” said Kottick. “Transit access is becoming an increasingly important factor for younger Canadians seeking their first home. Many are weighing commute times and workplace flexibility more carefully in their search, while sellers continue to adapt to a market that’s still finding its footing in this new reality.”

The evolving buyer

Families, new Canadians, and retirees drove a larger share of sales in 2025 compared to 2024. While 17 per cent of Canadians said they plan to purchase a home at some point, brokers are hearing that many buyers continue to watch the market closely for the right moment to make their move. Those planning to purchase their first home are more likely to be aged 18 to 34 and with kids under age 18.

Regional market outlooks

A review of local markets from January 1 to October 31, 2025, underpins the 2026 outlook. About a third of markets are expected to be balanced, with 18.2 per cent favouring sellers and 15.2 per cent favouring buyers, while the rest show mixed conditions.

Ontario

Ontario’s housing market shows a mix of buyer-friendly and balanced conditions, shaped by regional differences. Northern markets like Kenora, Sudbury, and Sault Ste. Marie remain stable with modest price growth, while mid-sized cities such as London and Kitchener-Waterloo are seeing more inventory, slower price growth, and opportunities for buyers to take advantage of lower interest rates, particularly for single-detached homes.

In the Greater Toronto Area, falling prices and rising listings are easing conditions, although affordability remains a challenge for first-time buyers. Year-over-year, GTA home prices declined 3.5 per cent, from $1,127,525 to $1,088,166. Across the province, rental pressures and limited inventory are prompting buyers to plan strategically, with technology helping streamline property searches.

Western Canada

In Vancouver, high-end prices fell 6.3 per cent year-over-year to $2,483,000, giving buyers more leverage, while entry-level homes remain in demand. Calgary and Edmonton show balanced conditions, driven by suburban single-detached homes, whereas Regina and Winnipeg still favour sellers due to low inventory and steady demand.

Across the region, single-detached homes dominate. First-time buyers seek value and convenience and move-up buyers are targeting larger homes. New construction is modest in Vancouver but stronger in mid-sized cities. Declining interest rates and favourable financing are expected to boost buyer activity in 2026.

Atlantic Canada

Steady in-migration, moderate price growth, and rising new-home construction, are contributing to more balanced conditions. Average home prices are expected to increase 3 to 5 per cent, with single- and semi-detached homes most in demand. First-time buyers are returning, prioritizing affordability and low-maintenance homes, while move-up buyers focus on larger, energy-efficient properties. Retirees are seeking downsized, accessible housing or low-maintenance condos in communities that offer healthcare access and amenities.

Sales were highest in St. John’s Metro, up 4.4 per cent year-over-year. Rising rents are prompting more renters to buy, and investor interest remains strong.

 

Unitech announces new leadership roles

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Unitech Construction Management has announced new leadership roles.

Brad Stevenson has been promoted to president from chief operating officer, reflecting his outstanding leadership, operational focus, and commitment to clients and teams. He has played a key role in strengthening Unitech and driving continued growth.

He has been with Unitech for 15 years in a number of different roles including operations, finance, human resources, safety, business development, and information technology.

After founding the company in 1988 and serving 37 years as president, Rick Boates transitions into the role of the Traction/EOS system based title of Visionary, as well as retaining the position of chairman of the board. He will focus on long-term strategy, industry partnerships, and continuing to guide Unitech’s vision and values.

According to Unitech, this leadership evolution strengthens the company’s foundation for the future, ensuring the continued delivery of exceptional, collaborative and transparent construction management services to partners and that support the company’s goal of becoming recognized as Western Canada’s collaborative construction leader.

Based in Delta, Unitech provides construction management services for major education, recreation, institutional, commercial and multi-family residential projects in many urban, rural and remote communities throughout British Columbia and Alberta.

 

Are condo boards ready for post-rate-cut pressures?

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For the first time in years, Canadians are seeing interest rates go down. The Bank of Canada’s decision to lower borrowing costs has been framed as a relief for homeowners, but its impact goes far beyond monthly mortgage payments. Rate cuts change how people feel about the market, and psychology is powerful in real estate.

Buyers, once waiting for stability, are starting to return to the market. For condo boards and property managers, this renewed activity brings pressures: more resale requests, increased owner inquiries, and higher expectations for transparency.

When interest rates fall, optimism tends to follow, but that doesn’t automatically lead to trust. People base their confidence on what they can see. When they can monitor a transaction, they feel their investment is handled carefully.

Condo boards operate under the same principle. When owners understand how their corporation is managed — how projects are planned, funds are allocated, and decisions are made — they’re more likely to stay engaged and confident, even in uncertain markets. But when information is scarce or vague, trust can quickly erode.

The iPro brokerage collapse showed what can happen when transparency breaks down, resulting in confusion, lost money and shaken confidence that will take years to restore. For condo boards, the takeaway is simple: in a post-rate-cut market, transparency means going beyond mandatory disclosures and creating a sense of stability in an otherwise unpredictable environment.

The transparency test

Condo boards understand the importance of reserve fund studies and maintenance plans, but few owners truly grasp them. These documents are technical by design, often written for engineers and auditors, not homeowners.

In 2025, rate cuts are making owners more confident in their ability to enter the market, but high costs of living and labour challenges will mean it will take more to motivate them to act. In this climate, owners (and potential homeowners) expect this information to be readily available. After all, if technology has brought transparency to so many areas of life, why not one of their most valuable assets?

Boards that can use digital platforms, for example, to streamline communications, can meet or exceed these expectations. It’s also crucial to present plans in plain language, clearly explain how repairs are funded, and make documents easy to find. This signals that the community is well-managed and responsive — which matters now more than ever.

Today, homeowners equate transparency with competence, expecting organizations handling large transactions to “show their work.” Visibility and process clarity have become signs of maturity, which then build trust. This expectation extends beyond the property line. Owners who track deliveries, monitor health via smart devices, and check bank accounts instantly now expect similar insight from their condo board.

But transparency doesn’t mean overwhelming people with data or documents. What really builds trust is clarity: sequencing information logically, using plain language, and showing how decisions fit into a larger plan. In a market where confidence is still rebuilding, that clarity will be what separates well-run condo corporations from those that appear uncertain or reactive. It also means you’re staying focused on clear communication rather than digitizing documents for customers to navigate.

The operational squeeze

Lower interest rates bring movement, but also workload. In 2026, property managers and board members will face a surge in requests for documents like status certificates and financial summaries. When every sale triggers the same cycle of questions about upcoming repairs, reserve fund stability and fees, having a system that centralizes and simplifies information will save time and prevent burnout.

Digital tools can help, but the bigger shift in condo boards should be cultural: treating transparency as part of day-to-day governance, not a compliance exercise. That means thinking about how information flows — who has access to it, how often it’s updated, and whether owners truly understand it.

The path forward in 2026

Heading into 2026, condo boards have an opportunity to turn these pressures into progress. A few small shifts can make a meaningful difference:

● Translate complex financial documents into clear, digestible summaries for owners.

● Communicate upcoming projects or fee changes early, with context on how they support long-term building health.

● Adopt secure, digital channels for sharing records and updates so owners can find what they need without friction.

These may sound like operational tweaks, but together they build something bigger: trust.

The post-rate-cut era will reward clarity and penalize opacity. As transactions increase, so will the expectations for accountability. Buyers and owners no longer accept “we’ll get back to you.“ They expect answers at their fingertips and decisions they can understand.

For condo boards, these administrative challenges are opportunities to lead. By embracing transparency and modernizing how information is shared, boards can strengthen confidence in their communities and ensure their buildings define what good governance looks like in 2026.

Robert Saunders is the CEO and Co-Founder of Ownright, a digital real estate law platform helping Canadians close home transactions with clarity and confidence. Since its launch in 2023, Ownright has raised over $6 million and processed over $1 billion in over 1,700 transactions.

Harsh payback on energy efficiency violations

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Underperforming and improperly labelled equipment and appliances could pose a far greater financial liability than just elevated energy costs. Proposed amendments to Canada’s Energy Efficiency Act would bring a five- to 100-fold increase to existing maximum fines, depending on the circumstances, and introduce a new slate of administrative monetary penalties (AMPs) characterized as primarily for instructive rather than retributive purposes.

A newly tabled bill in the Canadian Senate also includes the framework for proposed regulatory sandboxes that would allow new products to be tested in the marketplace in tandem with the development of rules to govern them. Other new provisions would address digital procedures and mechanisms that have emerged since the legislation was last updated.

“Modernizing the Energy Efficiency Act ensures Canadian families, homes and businesses can access higher-performing, lower-cost energy-using products that save them money and reduce greenhouse gases. This is good news for our environment and Canadians’ wallets,” maintains Tim Hodgson, Canada’s Minister of Energy and Natural Resources.

However, equipment/appliance dealers or other commercial entities that “use an energy-using product for commercial purposes” could be in line for a significant financial hit if they are found to be importing or shipping items between provinces that do not comply with applicable energy-efficiency standards or carry accurate labels. Currently, they would face a maximum fine of $50,000 if convicted of a summary (i.e. less serious) offence or a fine of up $250,000 for a serious indictable offence.

The proposed amendments would lift maximum fines to $250,000 for a first summary offence and $2 million for a first indictable offence. Subsequent convictions could yield fines of up to $500,000 for a summary offence or up to $5 million for an indictable offence.

A range of other transgressions — such as tampering with energy-rating labels, false statements/documentation or inadequate record-keeping — that can currently result in fines of up to $10,000 could become steeply more odious. Maximum fines of $500,000 for a first offence and $1 million for a subsequent offence are proposed.

Elsewhere, the amendments would establish the authority for administrative monetary penalties ((AMPs). As proposed, the Minister of Energy and Natural Resources would designate officials with the authority to issue notices of violation to individuals or other entities for contravening provisions of the Energy Efficiency Act or its regulations. In turn, recipients would have the right to request a review of the alleged violation and/or to enter into a compliance agreement for a lesser penalty. The framework for the penalties would be set out in future regulations.

“The purpose of a penalty is to promote compliance with this Act and not to punish,” the amendment states. “The maximum penalty for a violation is $5,000, in the case of an individual, and $25,000, in any other case.”

Allowance for regulatory sandboxes would be introduced under the Act’s existing authority for Ministerial regulations. Through this proposed mechanism, any person, energy-using product or class of people or products could be exempted from an existing regulatory requirement for a specified period of up to three years if it’s considered in the public interest for the purpose of testing a product, service, process or regulatory measure.

Candidates for the exemption would first have to submit and receive approval for an implementation plan, which would include assurances of monitoring and health, safety and environmental controls. Expected benefits must outweigh the risks of suspending regulatory requirements.

The Minister would have authority to extend the exemption period to up to six years once testing is underway. Alternatively, exemptions could be revoked or adjusted if it’s determined that trials are no longer in the public interest or risk management improvements are necessary.

The bill has thus far just completed the first reading stage in the Senate and still has a long process ahead before it might be adopted in the House of Commons.

ISSA State Advocacy Leaders drive growth in 2025

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ISSA’s State Advocacy Leaders (SAL) program surged forward in 2025, expanding its ranks to 31 leaders nationwide and amplifying the industry’s voice at the federal and state levels.

Launched in 2024, the SAL program strengthens advocacy for the cleaning and facility solutions industry by mobilizing ISSA members as grassroots and grass-tops champions to further impact federal and state legislation important to the industry.

This year, SALs delivered meaningful impact, including:

  • Meeting with their congressional delegations during the ISSA Clean Advocacy Summit and throughout the year
  • Securing congressional sponsorships of ISSA priority legislation
  • Supporting ISSA’s application to the U.S. Department of Labor for a Recognized Apprenticeship Program for cleaning professionals
  • Securing state and local proclamations recognizing International Cleaning Week
  • Serving as emerging and healthcare leaders for ISSA
  • Providing critical, real-time feedback to shape ISSA’s advocacy positions

“In 2025, we significantly expanded the reach and engagement of our nascent State Advocacy Leaders program,” said ISSA Senior Government Affairs Manager Stacy Seiden. “We’re grateful to our SALs for stepping up as industry leaders and driving positive change in the profession.”

This year also brought expanded program resources, including ISSA’s new Advocacy 101 video series, What is Advocacy? and Why Is Advocacy Important? “We look forward to growing both the size of the SAL program and the depth of its advocacy in 2026,” added ISSA Government Affairs Director John Nothdurft.

The current ISSA State Advocacy Leaders include:

State Advocacy Leaders are ISSA members in good standing in the United States, who demonstrate a strong commitment to elevating the built environment through advocacy.

“Being a State Advocacy Leader is a powerful opportunity to help transform our industry,” said SAL Tricia Holderman, CEO of The Germ Girl/Elite Facility Systems. “From labour shortages to janitorial work-loading challenges, the issues we face demand collective action at both the national and state levels. I’m honoured to help lead that charge for our industry in 2026.”

Interested in becoming a State Advocacy Leader?

Learn more about the program and connect with ISSA’s Stacy Seiden.

Bill 60 advances toward Royal Assent

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Bill 60 has passed its third reading in the Ontario Legislature, moving closer to Royal Assent and igniting heated debate. The legislation, if approved, would reshape landlord–tenant laws by streamlining processes for landlords and rolling back some key tenant protections—measures supporters say will cut delays and boost housing supply. Critics, meanwhile, warn that the changes will fuel evictions, deepen homelessness, and erode renters’ ability to defend themselves.

Specifically, the bill eliminates the requirement for landlords to provide one month’s rent compensation when evicting tenants for personal use and accelerates eviction timelines by permitting applications after just seven days of non-payment. In addition, tenants can no longer raise new issues during rent arrears hearings unless they gave prior notice. If passed, some changes would come into force on the day Royal Assent is granted, while others would be phased in on dates yet to be determined.

According to Kristin Ley, Partner, Cohen Highley LLP Lawyers, this staged rollout is designed to allow time for administrative and procedural adjustments before certain provisions are enforced.

“We will continue to monitor the progress of Bill 60 and provide timely updates as new information becomes available,” she said. “Once Royal Assent is granted and the government announces the effective dates for the bill’s provisions, we will issue further guidance on compliance and best practices.”

Until then, the existing legislation and Landlord and Tenant Board (LTB) procedures remain in effect, with ongoing or new disputes still governed by the current rules. Landlords are advised to begin reviewing their current practices and documentation in anticipation of the upcoming changes. Once the government sets the effective dates, Ley warns there may be a need to update notices, internal procedures, and other operational materials to align with the new standards.

Is day cleaning more practical for businesses?

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Typically, cleaning is a solitary task, beginning when office buildings have emptied for the day, but there are advantages to cleaning earlier, while offices are still occupied. Improved health for cleaners, cost savings, and lower environmental impact are just some of the benefits your business can gain from shifting your practices to day cleaning.

Perceived cleanliness

The fact that cleaners are often out-of-sight-out-of-mind can leave doubts in the minds of your staff and visitors regarding the frequency and thoroughness of your cleaning practices. Studies show that 72 per cent of employees feel safer in workplaces with visible cleaning staff. Day cleaning offers the opportunity for cleaning processes to be obvious, assuring building occupants that attention is being paid to cleanliness and hygiene.

Immediate resolution

Along with the advantage of real-time restroom inventory management, when spills or accidents happen, it’s helpful to have someone on site who can address them immediately, minimizing the inconvenience and unsightliness for staff and visitors. Four out of five Canadians are concerned about hygiene and cleanliness in public places, but only 18 per cent of public restrooms meet their expectations. Given that 68 per cent of facility managers report quicker issue resolution with on-site cleaning during the day, building operators can provide a better business experience with consistent attention to the restrooms throughout the day.

Energy reduction

Companies that aim to minimize energy use can achieve a reduction of up to eight per cent by shifting their cleaning operations to daytime hours. Companies may also be able to cut down on nighttime security and monitoring without evening personnel, as well as reducing the risk of nighttime unauthorized building access.

By scheduling cleaning crews to work during regular business hours, companies can avoid running their lights and heating/cooling systems after hours, thereby lowering their environmental impact, reducing utility bills, and working towards achieving their ESG goals.

Improved company culture

Due to the traditionally isolated nature of commercial cleaning, day cleaning offers janitorial staff the opportunity for a better work-life balance. Improved morale can also be achieved when cleaners can engage and interact with staff present during the day, and that leads to increased job satisfaction and improved productivity. This shift may even affect your brand recognition and make your company a more desirable place to work for prospective employees.

Day cleaning is an option for companies to save money, improve operations, and raise the working company culture for cleaning teams.

WorkSafeBC reports good tower crane compliance

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One year after a new tower crane regulation came into effect, WorkSafeBC is reporting good compliance across tower crane operations in B.C., although risks remain.

Since Oct. 1, 2024, employers have been required to submit a Notice of Project (NOP) to WorkSafeBC at least two weeks before any tower crane work begins, including assembly, climbing, repositioning, or dismantling. The NOP–Tower Crane requirements enable WorkSafeBC to understand who will perform the work, and when, where, and how it will be carried out.

In 2024, the crane inspection team conducted more than 1,500 inspections across B.C. and issued over 800 orders, including 75 stop-use orders and 36 stop-work orders.

In its first year, WorkSafeBC received more than 900 NOP–Tower Crane submissions. WorkSafeBC is continuing to work with employers to ensure that submissions include the right planning and safety information. Where employer NOP submissions are incomplete or reveal gaps in risk controls, WorkSafeBC officers follow up with inspections, as appropriate.

Among the information that must be confirmed in the NOP–Tower Crane regulation are names of all employers responsible for the crane activity, the nature and scope of the crane activity, safe-work procedures specific to the workplace, the qualifications of the qualified supervisor, and identification information for the tower crane.

As part of the crane strategy, risks are being addressed through a number of mechanisms, including reviewing and refining crane and rigging regulations; strengthening operator certification; enhancing inspection requirements; expanding inspection capacity and expertise; elevating workforce training and skills; and supporting the BC Association for Crane Safety in delivering certification and employer/worker support.

WorkSafeBC brought together approximately 150 stakeholders in the crane sector, including labour representatives, tower crane operators, employers, prime contractors, rental companies, and the BC Association for Crane Safety to identify and address gaps in crane safety.

 

Coronation Park Sports and Recreation Centre to open in January

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The City of Edmonton will officially open the Coronation Park Sports and Recreation Centre on January 27, 2026. The new facility, located in central-north Edmonton, will serve as a major community and recreational hub, featuring a range of sports and fitness amenities for residents and athletes.

Construction of the centre began in the spring of 2022, and despite the challenges of a large-scale project, it remains under budget and ahead of schedule,

The centre will offer a variety of facilities, including fitness centres, a training studio, an indoor running track, and a 250-metre category A indoor cycling track. It will also integrate the recently rehabilitated Peter Hemingway Aquatic Centre, which includes a 50-metre pool, hot tub, sauna, steam room, and a newly added cold plunge pool.

Additionally, the facility will house a velodrome with seating for up to 940 spectators, managed by the Alberta Velodrome Association, with events hosted in partnership with the World Triathlon Series Edmonton.

Other notable features include: a bouldering wall, ,ulti-purpose courts and an innovative urban court, a dedicated spin studio, an indoor playground and child minding space, and the Canadian Sport Institute office

Brad Badger, director of physical activity and sports centres, emphasized the significance of the facility. “The experiences that this facility offers will draw in people from the local north central area, across the city, the province and beyond, ” he said. “This facility demonstrates that Edmonton is a premier fitness and training destination for the community, triathletes and cyclists.”

With the integration of the Peter Hemingway Aquatic Centre, the Coronation Park Sports and Recreation Centre will become the first indoor triathlon training facility in North America that supports year-round training and events, offering a pool, running track, and cycling track in one location.

The Coronation Park Sports and Recreation Centre will become the first indoor triathlon training facility in North America to support year-round training and events with a pool, running and cycling track all in one location.