Sync or Swim: The Multifamily Growth Show – Details, episodes & analysis

Tariffs, Interest Rates, and Canada's Rental Market

In real estate, time is money, and at a time when tariffs are ever-changing, the housing and rental market are even more unpredictable than usual! Today on the Sync or Swim Podcast, we are joined by Tu Nguyen, an economist at RSM Canada, to discuss the recent tariff changes, interest rates, and the Canadian housing market. Tuning in, you'll hear about how the new US tariffs are going to affect housing development and rent, how Canadian policy and market shifts can lessen the consequences of these tariff changes, how they will affect the rental and housing market, and so much more! We delve into the problematic nature of high construction prices before discussing the relationship between interest rates and the price-to-rent ratio. Tu even tells us what happens to the rental market when interest rates fluctuate and shares her thoughts on renting versus buying. Finally, hear about how new policies and the changing political landscape in Canada may impact the rental and housing market. Thanks for listening in! 

Key Points From This Episode:

• Introducing today's guest, Tu Nguyen.

• How the new US tariffs will affect housing development and rental prices. 

• Ways policy and market shifts can mitigate these effects. 

• How tariffs can impact the rental and housing market specifically. 

• The dangers of construction prices that are too high. 

• The relationship between the price-to-rent ratio and interest rates. 

• What happens in the rental market as interest rates fluctuate. 

• Tu shares her thoughts on renting versus buying in this market. 

• How politics and new policy may impact the rental and housing market. 

Quotes:

"There are no winners in a trade war." — Tu Nguyen [0:07:55]

"With all the tariff measures that came out yesterday, we're expecting that there could be a global recession, and Canada is also expected to enter a recession this year. — Tu Nguyen [0:08:05]

"In real estate, in construction and housing, time is money, right? Because – every minute that you are not building, you're wasting time, you're wasting money, and you're not adding supply."— Tu Nguyen [0:24:27]

Links Mentioned in Today's Episode:

Tu Nguyen on LinkedIn

RSM Canada

Rentsync

Sync or Swim Podcast

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Is the GTA housing market oversupplied or just misunderstood? In this episode of Sync or Swim, host Max Steinman takes a deep dive into the purpose-built rental market with industry leaders Chrystal LeBlanc (BGO), Michelle Calloway (Fitzrovia), and Todd Spencer (Park Property Inc.). Together, they explore how their organizations are responding to shifting renter preferences, navigating condo oversupply challenges, and redefining the rental experience in the Greater Toronto Area. Tune in for expert advice on navigating Toronto's rental market, practical strategies for adapting to evolving renter expectations, and inspiring lessons from exceptional leaders shaping the future of multifamily housing. Whether you're a property pro, a curious investor, or simply interested in where Toronto's housing market is headed, this episode will leave you informed, inspired, and ready to take action!

Key Points From This Episode:

• Purpose-built rental developments in Toronto: affordable, downsizer-friendly, and amenity-rich.
• Market insights into rental oversupply and condo saturation impacting prices and demand.
• Key distinctions between condos and purpose-built rentals (and why purpose-built is better!)
• Michelle's take on the decline in foreign student demand in Toronto rentals.
• Growing demand for flexible lease terms, dedicated workspaces, and personalized leasing.
• Insight into the customer service evolution needed to meet changing renter preferences.
• Strategies the panel has implemented to reduce "shopping around" and close deals faster.
• Hospitality-inspired practices that are key to elevating the resident experience.
• Reframing renting as a choice, emphasizing security, community, and modern amenities.
• Combatting negative stigma around renting and landlords by creating great experiences.
• New language, fostering renter dignity, and leveraging technology to change perceptions.
• The panel's reflections on the "promise of Toronto" and why they remain optimistic.
• Why collaboration and knowledge-sharing among industry peers is critically important.
• Reasons to create community "stickiness" and what it can to do reduce tenant turnover.
• Some of the most rewarding aspects of being in the purpose-built rental industry.

Quotes:

"We need to be better at saying why purpose-built rental is different [to condos]. We think about our residents – 24/7 – We need to work harder in the sales pitch to highlight what that means: that our service levels are higher [and] our systems are better." — Todd Spencer [0:10:26]

"You can spend all the money on marketing in the world, but if you don't step in that front door and have a consistent experience with what you see – online, it can fall flat really quickly." — Chrystal LeBlanc [0:13:46]

"What I always say is we don't have 500 suites. When a prospect walks in the door, we have three suites for you based on your budget, your family, what's important to you, [and we only show] suites that are right for that prospect." — Chrystal LeBlanc [0:19:37]

"If we want to be recognized as world cities, we need to behave like world cities. In the rest of the world, renting is not a stigmatized activity. It's actually the dominant housing ecosystem in most major cities in the world." — Todd Spencer [0:25:19]

"We need to be better at sharing insights with each other in the industry. I invite everybody to come tour my assets not because they're new and shiny but [because] I want to hear what you're doing too. That's going to raise us up altogether." — Michelle Calloway [0:35:28]

"The [purpose-built rental] industry is changing since I joined 10 years ago. That – excites me. We still have a long way to go. We're not there yet, but I can't wait to see where we go." — Michelle Calloway [0:40:39]

Links Mentioned in Today's Episode:

Toronto Rentsync User Roadshow 2024

Chrystal LeBlanc

BentallGreenOak (BGO)

Chrystal LeBlanc on LinkedIn 

Michelle Calloway

Fitzrovia

Michelle Calloway on LinkedIn

Todd Spencer

Park Property Management Inc.

Todd Spencer on LinkedIn

Elm-Ledbury by Fitzrovia

Sloane by Fitzrovia

Waverley by Fitzrovia

Max Steinman on LinkedIn

Rentsync

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Technology is becoming a vital aspect of the rental space as, for one, it provides the opportunity for accurate property visualizations before they've been built; without having to view the actual building. As a leading PropTech company that develops and deploys innovative tech solutions for properties and residents, Gryd is one of the reasons that many landlords and renters are willing to embrace this new digital era. Today we are joined by the Vice President of Sales at Gryd, Josh Donen, who explains what his company is all about and what his role in it entails. We learn about Gryd's impressive technologies, how it works, and why the industry is clamouring to embrace it. Then, we look back at the pandemic as we discuss how the market reacted to it, how COVID swayed Gryd's new innovations, and how the pandemic inadvertently set new trends for the rental industry. We also discuss what a boost in rental supply may mean for the industry moving forward, why multi-market conferences matter, and the exciting work that Gryd has planned for the near future.   

Key Points From This Episode:

• Josh Donen's background and what his role as Vice President of Sales at Gryd entails.
• The ins and outs of Gryd, and why there's an increasing need for its technology.  
• How Gryd's technology works.
• The way COVID changed what Gryd prioritized in its innovations.
• How renters have become accustomed to digital renderings as a result of the pandemic.
• More on the increasing value of Gryd's technology offerings.
• Assessing how a major boost in rental supply may affect the markets.
• Why it's wise to attend rental conferences in other markets.
• Industry trends that Gryd is taking notice of, and what it has planned for the future.

In our rapidly evolving world, prospecting tenants expect more than just a place to live or work. They seek vibrant, all-encompassing communities that offer convenience, choice, and a sense of belonging. On this episode of Sync or Swim, we are joined by Dimitri Kritikos, Director of Property Management at Rhapsody, who offers us a unique perspective on the promise of mixed-use developments and how they satisfy the needs of today's discerning residents. Listening in, you'll gain insight into Toronto's exciting new master-planned community, The Well, which is one of the most ambitious mixed-used projects of its kind in Canada. You'll also learn about the benefits of the geothermal well the development takes its name from, the various amenities that residents will be able to take advantage of, and how The Well not only offers an incredible place to live but is even changing the stigma of renting. For a sneak peek into the future of purpose-built rentals, tune in today!

Key Points From This Episode:

• A high-level overview of Dimitri's role at Rhapsody.
• Why he believes mixed-use developments are the future of purpose-built rentals.
• How the expectations of prospecting tenants have shifted in recent years.
• Insight into FourFifty The Well, a mixed-used development managed by Rhapsody.
• The benefits of the geothermal well that the development takes its name from.
• A look at the design of the residential suites: The Residences and FourFifty The Well.
• Amenities that are on offer for residents at The Well.
• How luxury mixed-use developments like these challenge the stigma of renting.
• The various demographics that The Well caters to.
• What Dmitri means when he refers to "peace of mind living."
• Where you can learn more about this exciting development!

Rentsync's Director of Sales and Business Development Matt Livingstone joins us in conversation today to explore recent innovations in Multifamily Marketing, why they are necessary, and what we might expect from the future. To kick off our conversation, we discuss the current climate in multifamily investment, the emergent needs and how they could be fulfilled. Exploring use cases and the development of the Floor Plan Navigator, we speak to increasing sophistication in condo development and the role and integration of interactive tools in the Canadian and US market. We touch on future plans for FPN based on the various ways in which it is currently being adopted, why there are so many possibilities arising from the advent of this tool, and potential benefits for corporate contexts, landlords, and renters. Join us today to hear all this and more! 

Key Points From This Episode:

• Context for this conversation: the housing crisis, rapid fluctuations, and more.
• Needs emerging from the current climate including cohesion and innovation. 
• Floor Plan Navigator (FPN) an interactive tool used to showcase unit availability. 
• Landlord and renter benefits that arise from using this tool.
• How sophistication has increased on the condo development side.
• Prevalence of interactive tools in the US market.
• Future plans for FPN with its beginnings in mind. 
• Use cases for FPN in a client context.
• The Point of Sale Device that has been developed.
• Why there are so many possibilities with this particular tool and how they might unfold.
• Potential corporate benefits of using the system.
• What is next for Rentsync beyond this model.
• How software can support safety and trust.

Links Mentioned in Today's Episode:

Matt Livingstone on LinkedIn

Rentals.ca

Rentsync

Sync or Swim Podcast

Housing affordability in Canada is a major concern for anyone hoping to purchase a home amid the current climate of increasing prices. For the same amount as a two-bedroom property in Toronto, prospective home buyers could purchase lake-facing castles in Europe or even entire private islands, according to content creator Millennial Moron, who has noted these absurdities in a series of viral videos. In today's episode of Sync or Swim, the Millennial Moron himself joins us to share his humorous yet insightful take on the Canadian real estate market, the housing bubble we find ourselves in, the need for more purpose-built rentals, and the impact that rising interest rates are having on mortgages, plus so much more! This conversation not only offers a well-informed perspective and valuable insights, but it also injects some much-needed humour into what many might consider a dire situation. For the Millennial Moron's guide to Canadian real estate in 20204 and beyond, be sure to tune in today!

Key Points From This Episode:

• What inspired the Millennial Moron to voice his opinion on the housing industry in Canada.
• Insight into his strategy to use humour to illustrate the serious topic of rising interest rates.
• Canada's housing bubble: how we ended up here and where we're going.
• The need to correct a long-term deficit in purpose-built rentals.
• Why owning property isn't always better than renting.
• What the cap on international students means for Canada's housing shortage.
• Millennial Moron's market predictions for the next 12-18 months.
• Correlations between the situation in Canada and the 2008 mortgage crisis in the US.
• The impact that rising interest rates and inflation are having on mortgages.
• Market sentiment versus cashflow and why the success of Canada's real estate markets in 2024 hinges on interest rates.

Housing is a hot topic in Canadian mainstream media and we couldn't be more grateful, because even though steps are being taken to improve the state of housing in the country, there is still much work to be done. Joining us today to speak about Canada's rental landscape is a journalist with her finger on the pulse – Toronto Star's Business Reporter, Clarrie Feinstein. After explaining what drew her to journalism and business reporting and real estate, Clarrie walks us through the current trends of the housing market, why many buyers are tentative and overwhelmed, what the HST removal could mean for developers and new developments, and how the housing crisis has negatively affected the general mood of Canadians. Then, we take a closer look at how the mass exodus from big cities is shaping smaller neighbouring towns, how housing costs influence Canada's international reputation, the ins and outs of short-term rentals, and our guest's vision for the future of the Canadian housing market.    

Key Points From This Episode:

• Introducing Toronto Star's Business Reporter, Clarrie Feinstein. 
• How Clarrie decided on journalism and what drew her to business reporting and real estate.
• Notable trends that she's witnessed in the current housing market. 
• Why now is a confusing time for buyers, and why most are waiting for lower interest rates. 
• What the removal of the harmonized sales tax (HST) could mean for developers.  
• The looming shadow of bankruptcy and the nationwide gloom of the housing crisis.
• How the cost of housing is affecting Canada's reputation as an ideal home destination.
• The trickle effect of the mass big-city exodus on smaller towns and suburbs. 
• Taking a closer look at the short-term rental market. 
• How the economy and other social factors have impacted Canada's rental market as a whole. 
• Clarrie's predictions for the future of Canada's housing market.

Joining us in conversation are Rentsync CEO and VP of Technology and Data, Max Steinman and Michael Mottola. We are also joined by two members of the Building Stack community, CEO Jonathan Margel, and COO, Pablo Menghini. Tuning in, you will hear our guests offer their insights on the recent merger between Rentsync and Building Stack and how it was approached. Hear how Building Stack came to be, what motivated the merger, and how it supports property managers and the many hats they are required to wear. Learn about each business, what to expect from the future, and the biggest benefits that are set to unfold in the coming year. Thanks for tuning in!

Key Points From This Episode:

• Welcoming this episode's four guests; Max Steinman, Michael Mottola, Jonathan Margel, and Pablo Menghini.
• The story of how Building Stack came to be. 
• Factors behind the decision to merge Rentsync and Building Stack. 
• The resident lifecycle and how Rentsync and Building Stack intend to move down the funnel. 
• Some of the many areas in which property managers need to be experts in the present landscape. 
• How the integration will improve Rentsync's services. 
• Rentsync's core competencies.
• The biggest benefit of the merger, including seamlessness reporting capability.
• What the merger hopes to achieve and how it will affect customers in the short term. 
• How things will change in the long term and how each of our guests feels about the collaboration.

Listen to the episode wherever you get your podcasts, Apple, Google Podcasts, or Spotify.

In this episode, we take a look back at 2023 and the rental trends reported by Rentsync and Rentals.ca. The Canadian housing market seems to be setting and breaking records each day, but does the good outweigh the bad? To help us make sense of Rentals.ca and Urbanations's report, we are joined by three of its influential contributors; the Product Manager of Data Services at Rentsync, David Aizikov, the CEO of Rentsync, Max Steinman, and the President of Urbanation, Shaun Hildebrand. The trio is here to walk us through their findings, which include the steady of flow new rental trends that have played out throughout the year, supply and demand numbers, the undeniable national crisis relating to the cost of living, and the possible impact that reduced housing may have once it enters the market from 2024 onwards. We also learn about the hidden opportunities of affordability, the fears that most prospective homeowners share, the communal relief that rent and housing is top-of-mind for mainstream media and policy-makers, and what renters and landlords can expect from the market in 2024 and beyond. 

Key Points From This Episode:

• Introducing three key compilers of Rentals.ca and Urbanations's annual rental report, David Aizikov, Max Steinman, and Shaun Hildebrand.
• Assessing the consistency of new rental trends that we've witnessed throughout the year.
• Supply and demand numbers, and the factors that affect them.
• The cost-of-living crisis. 
• Exploring the possible impact of reduced housing's addition to the supply in 2024. 
• Whether the softening of demand and leveling of rents is closer than we may realize. 
• Community upliftment and other opportunities of affordability.
• The fears of a prospective homeowner.
• What it means for housing and rent to be at the top of policy-making agendas. 
• How landlords and renters ended up understanding the other's perspective.
• What renters and landlords can expect from the market in 2024 and beyond. 

Listen to the episode wherever you get your podcasts, Apple, Google Podcasts, or Spotify.

Canada is in the grips of a housing crisis as the people who need homes far outnumber the available residential units. At the same time, Canada is also experiencing a vacancy problem after the steep decline in office space demand post-COVID. It would make sense, then, to convert the empty office spaces into residential units, but as today's guest, Steven Paynter explains, this process is far from simple. Steven is the Global Leader of Building Transformation and Adaptive Reuse at Gensler – an elite global architecture, design, and planning firm. Steven and his team developed an algorithm to rapidly assess project viability for office-to-residential conversions, and he explains how this helped Gensler form a successful relationship with Calgary Economic Development. Our guest details the challenges that he comes across in other parts of North America, as well as the areas of opportunity to mirror the success of the work done in Calgary. We also discuss why offices will never be the same post-COVID, how "trash" office spaces can turn into diamond residential units, why most buildings are not suitable for office-to-residential conversions, and the costs of converting versus construction. To end, we gain a better understanding of the true value of Gensler's algorithm, and what the future may hold for this game-changing initiative. 

Key Points From This Episode:

• Introducing the Global Leader of Building Transformation and Adaptive Reuse at Gensler, Steven Paynter. 
• Steven details his professional background and explains how he fulfils his role at Gensler. 
• The ins and outs of his algorithm for assessing potential office-to-residential conversions. 
• How Gensler formed a relationship with Calgary Economic Development.
• Exploring the challenges and opportunities that Steven sees in other parts of North America after Calgary's success. 
• The way offices are changing and why they will never be the same as pre-COVID. 
• How some features of an unpleasant office space are actually ideal for a family home.  
• Why the percentage of buildings that are viable for conversions is so low. 
• The costs of office-to-residential conversions versus new constructions. 
• Understanding the true value of Steven and Gensler's algorithm.

Listen to the episode wherever you get your podcasts, Apple, Google Podcasts, or Spotify.