Brad Prince

If you're buying land in Laval that was decontaminated before 2022, not triple checking your environmental reports could cost you hundreds of thousands. We've purchased land for a 40+ multi-family development in Laval. The current owner assured us the land was already decontaminated back in 2020 and they had a clean rehab report. We decided to double check anyways. Good thing we did. The decontamination was done to commercial standards in 2020. But Laval changed their zoning regulations in 2022, shifting that area from commercial to residential. Here's the problem: Commercial usage allows you to leave B-C soil on site after decontamination. But not for residential use. In residential, this land is still considered contaminated. If you don't catch these things, you could be looking at decontaminating thousands of cubic meters of soil. At +- $45 metric ton for disposition of B-C soil, this adds up fast. Even if this experience helps one person purchasing land in an area with recent zoning change. Always check the decontamination date against current zoning requirements, not just the zoning at the time of remediation. This small detail could save you hundreds of thousands.

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How to buy a dip in real estate street knowledge 101. I learned this by asking a few clients we sold deals to during the GFC. Example 1 *Sold High: How did you know to sell all your entitled land developments in 2007? Response: “Developers shifted to condo developments or condo conversions of old apartment complexes. I knew that we’d hit peak affordability because consumers could only afford condos. So I sold.” Example 2 *Bought the dip: How did you decide the right time to start buying and acquire over 200 units of distressed multifamily? Response: “I saw deals for sale between $25K-$40K a door, just a PERMIT alone to build them is $50K a door. These are just 2 examples amongst many others that bought the decline. No charts, no graphs, no analytics just street knowledge. Hopefully this saves some folks $5-$10K in seminar fees, teaching you when & how to buy the dip.

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Another big news for BC REALTORS®! Last year, OFFERLAND's market rent valuation tool (OfferRent) helped support over 60,000 mortgage applications for major banks across Canada. Now, we’re bringing that same rental insight directly to BC’s licensed REALTORS® through AUTOPROP. Starting today, licensed REALTORS® can instantly generate rent estimate reports for any residential property, from condos to basement suites. These insights are backed by real-time comparable properties and can play a key role in real estate decisions. #CanadianRealEstate #PropTech #BCRealtor #BCRealEstate

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🧭 Time to Rethink Gross Rent: Why "Net" Apartment Leases COULD Build Trust and Better Housing! In Manitoba’s purpose-built apartment market, gross leases have long been the default by law. One bundled rent payment, covering everything from heat to taxes to water to grass cutting. Simple? Maybe. Transparent? Not even close. Tenants don’t know what they’re paying for. Landlords don’t know what they’re recovering. And neither party can hold upstream providers accountable. It’s time to think about shifting the model! 🔍 What Is a Net Lease—and Why It Matters? A net lease separates base rent from variable costs. Tenants pay for what they use—utilities, services, fees—with full visibility. Landlords charge rent for the space itself, not the noise around it. This isn’t about passing costs down. It’s about clarity, fairness, and better relationships. 📈 Benefits for Tenants ** Know what you’re paying for: No more guessing how much of your rent goes to hydro, taxes, or inflated service charges. ** Spot the inefficiencies: When costs spike, tenants can see whether it’s the cleaner, the utility, the municipality, or the service provider driving it. ** Add value to your community: report slack performers and deadweight suppliers as they occur to minimize building expenses. ** Use less, pay less: Energy-conscious tenants benefit directly. 📊 Benefits for Landlords ** Cleaner financials: Base rent is rent and tenants contribute to increasing overall operational efficiencies. ** Reduced friction: No more disputes over “what’s included.” It’s all spelled out in a net lease signed by landlord and tenant. ** Shared accountability: When costs rise, landlords and tenants can advocate together—whether it’s a municipal tax hike or a water surcharge. Better relationships: Transparency builds trust. Trust builds retention. 🧠 The Bigger Picture Gross rent is a legacy model. It hides inefficiencies, masks inflation, and erodes trust. Net leases for apartments would shine a light on the full cost of housing—and empower tenants and landlords to challenge what’s unfair. If governments and utilities are overcharging, let’s make it visible. If landlords are being squeezed by rising costs, let’s stop pretending rent is the problem. Transparency isn’t a threat—it’s the foundation of better housing. 🧾 BUT, the Definition of Rent under the Residential Tenancies Act in Manitoba defines "rent" as: “The consideration paid or required to be paid by a tenant to a landlord for the right to occupy a rental unit and includes any amount paid or required to be paid by the tenant to the landlord for services and facilities related to the occupancy of the rental unit.” This broad definition means that any charges for services or facilities—such as utilities, maintenance, or property taxes—are considered part of rent if paid to the landlord; as such, net leases are likely not permitted under the current RTA. Should we start the dialogue to have this amended?

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