How much do rental, leasing, and property management firms make?

How much do rental, leasing, and property management firms make?

How much do rental, leasing, and property management firms make?

Canadian residential and non-residential leasing and property management firms generated operating revenues of $115 billion in 2018, the latest year of stats released.

Statistics Canada revealed the figures Friday showing that residential leasing generated $46.6 billion, up 5.6% year-over-year with operating expenses up 4.8% to $30.7 billion.

Ontario had the largest share of residential rental income at 37.5%, followed by Quebec (25.9%), British Columbia (15.7%) and Alberta (11.5%).

Non-residential lessors’ revenue was $61 billion, up 5.4% from the previous year while operating expenses rose 6.9% to $39.2 billion.

Nova Scotia saw the highest increase though (7.2%) as rents grew 2.1% amid tighter inventory of rental units to a vacancy rate of 2%, a historic low.

Ontario had the largest share of non-residential rental income at 42.4%, followed by Quebec (18.9%), British Columbia (15.7%) and Alberta (14.5%).

However, it was BC that saw the highest growth among all provinces, at 7.3% year-over-year, along with the highest economic growth at 4%.

Real estate property management firms generated revenues of $7.4 billion, up 5.8% year-over-year. Operating expenses totaled $5.9 billion, up 5.9%.