Dean Holmes joins us today at the Canadian Apartment Investment Conference. He is Senior Vice President, Residential Operations at QuadReal, and will be talking in-depth about apartments in this episode.
We hear about the contrasts between the Canadian and US market from Dean, particularly regarding rent control and tenant turnover. He’ll also talk about the incorrect approach some developers take towards amenities, plus how rent control can be positioned as an amenity.
Topics covered include:
- What skills Dean learned in the military that translate into real estate.
- QuadReal’s core mission to produce returns for BC pensioners.
- The impacts that rent control has in BC and Ontario.
- Why Dean thinks Toronto is a low transaction market compared to US cities.
- Resident turnover in Canada versus the US.
- Wondering if tenants are aware that new buildings don’t have rent control.
- The potential of using rent control as an incentive for tenants.
- Where the roughly 10,000 suites in QuadReal’s domestic portfolio are distributed.
- Catering to renters-by-choice; people who can afford a home but choose not to buy.
- Which amenities Dean sees are being used the most.
- How to make sure that people actually want to use a building’s amenities.
- Interesting amenities that Dean has seen in the US which may come to Canada.
- Staggering rental growth rates in Vancouver.
- Uncontrollable expenses that have been increasing.
More about our guest…
Dean Holmes is responsible for the management and operations of QuadReal Property Group’s national residential portfolio. Joining the company in January 2018, Dean brought with him over 25 years of experience in the North American multi-family industry. Prior to joining QuadReal Dean was the Senior Vice President of Operations for Campus Apartments; a national student housing operator based in Philadelphia, PA. Previous to that Dean was the Chief Operating Officer for Madison Apartment Group where he oversaw the private equity firm’s 25,000 unit national multifamily platform. Dean also spent 10 years as a Division Vice President at Berkshire Group overseeing a 21,000 unit national portfolio. Dean is a veteran of the U.S. Air Force. He is a Certified Property Manager Candidate and a member of the Multifamily Advisory Board for TransUnion and the National Multi-Housing Council.
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