Navigating Economic Shifts: Insights for Property Owners

As your trusted property management company, we are committed to keeping you informed of important economic developments that could impact your property investments.

📉 Unemployment on the Rise

A recent report from the National Bank of Canada (NBF) warns that the national unemployment rate may rise from 6.6% to as high as 7.5% in the coming months, representing an increase of up to 190,000 unemployed individuals. This is due to a sharp decline in consumer confidence and spending, despite recent population growth.
Read the full article

🏘️ What This Means for Property Owners

The economic climate may present some challenges, but also opportunities. Here's what to keep in mind:

• Rental Stability: Increased unemployment may lead to financial pressure on tenants, potentially impacting their ability to pay rent on time or in full.

• Occupancy Rates: There may be upward pressure on vacancy rates in some markets, depending on demand and affordability.

• Tenant Retention: Maintaining strong, respectful relationships with your tenants is more important than ever.

🛠 Tools for Navigating This Period

To support stable rental income and strong tenant relationships during uncertain times, we recommend:

• Promptly responding to tenant concerns: Addressing issues quickly builds trust and encourages tenants to stay longer.

• Regular property maintenance: Keeping your units in excellent condition not only preserves your investment but also attracts and retains quality tenants.

• Avoiding rent increases where possible: In a softening market, maintaining current rent levels can reduce turnover and vacancy risk.

• Providing flexibility: When possible, consider offering payment plans or short-term lease options for tenants facing financial strain.

🤝 We're Here to Help

Our team is actively monitoring these trends and will continue to provide strategic guidance. We’re here to help with:

• Market updates and pricing recommendations

• Communication strategies for tenant retention

• Maintenance scheduling and vendor coordination

• Budgeting advice during uncertain times

Please don’t hesitate to reach out with any questions or if you’d like to review your property strategy.

Source: “Canadian Unemployment To Rise 190k People Within Months: NBF” – Better Dwelling, March 26, 2025