$9.7bn
$X.Xbn
36,499
33,731
$X.Xbn
Property managers are hired to oversee operations for apartment complexes and other rental sites. Demand for management services is countercyclical, as more consumers switch to rentals when the economy worsens and the price of home ownership increases. Managers experienced growth throughout most of the period, carried by the residential real estate market. Rental vacancy rates have declined as demand for residential rentals has been sustained by population and employment growth, high mortgage rates, and high home prices, which have limited access to homeownership for many. Consequently, property managers have experienced increased demand from the residential properties market over the past five years. However, demand from nonresidential properties has been volatile because of COVID-19 and fluctuations in interest rates. Nonetheless, revenue has grown at a CAGR of 0.9% to $9.7 billion over the five years to 2024, including an anticipated 0.4% rise in 2024.
Industry revenue has grown at a CAGR of 0.9 % over the past five years, to reach an estimated $9.7bn in 2024.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
FirstService Corporation | 275.0 | N/A | N/A | |
Jones Lang LaSalle IP Inc. | 168.5 | N/A | N/A | |
CBRE Group Inc. | 106.4 | N/A | N/A |
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Industry revenue is measured across several distinct product and services lines, including Residential property management, Nonresidential property management and Other services. Residential property management is the largest segment of the Property Management in Canada.
Record low vacancy rates fuel demand for residential property management
Industry operators manages residential and nonresidential real estate for others. Property management responsibilities relate to the overall operation of the property, including maintenance, rent collection, trash removal, security and some renovation activities. Operators may also help manage a property’s accounting, but processes relating to the transactions of properties or real estate investments are not included in this industry.
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NAICS 531310 - Property Management in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Low rental vacancy rates and rising rent prices have sustained demand for property managers. Demand from the commercial market has been volatile.
Learn about an industry's products and services, markets and trends in international trade.
Residential property owners, managing tenant turnover and 24/7 occupancies, are the largest market segment in property management. Nonresidential properties comprise offices,...
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Ontario's large population drives the growth of its property management industry. This region's robust financial services, IT sectors, along with manufacturing and natural re...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition is intense, with numerous property managers offering similar services. Companies that provide a full range of services at competitive prices have been favored by ...
Learn about the performance of the top companies in the industry.
FirstService Corporation, a property-related services provider established in 1989 in Ontario, employs around 27,000 people. The company strengthened its operations by purcha...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Vacancies are directly tied to industry success. Although having some vacancies is essential to preserving property value, too many empty rentals lessen the need for managers...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit hinges on the success of rentals. When the rental market is healthy, more is spent on management services. boosting revenue.
Including values and annual change:
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Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Property Management industry in Canada is $9.7bn in 2024.
There are 33,731 businesses in the Property Management industry in Canada, which has grown at a CAGR of 2.2 % between 2019 and 2024.
The market size of the Property Management industry in Canada has been growing at a CAGR of 0.9 % between 2019 and 2024.
Over the next five years, the Property Management industry in Canada is expected to decline.
The biggest companies operating in the Property Management market in Canada are FirstService Corporation, Jones Lang LaSalle IP Inc. and CBRE Group Inc.
Residential property management and Nonresidential property management are part of the Property Management industry.
The company holding the most market share in Canada is FirstService Corporation.
The level of competition is moderate and steady in the Property Management industry in Canada.