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Transforming a property from the perspective of a property manager
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By Eugene Bussoli

As a property manager, my job is to maximize return on investment while meeting the owner’s objectives. As a property manager in a priority neighbourhood, this means changing the face of a complex by re-claiming it entirely.

The Oaks at 160, 170, 180 and 200 Chalkfarm Dr. in Toronto was notorious for being an area plagued with crime, vandalism, thefts, break-ins and high tenant turnover. In the midst of it all, though, were four great buildings, sprawling green grounds, an accommodating neighbourhood and a community desperate for change. 

 

 

 

My goals were simple: clean up the buildings and find the right tenant mix. With a high vacancy and turnover rate, the first order of business was to get these suites ready to rent. I started by building a team environment where the staff was on-side, sharing the vision of the new direction for the complex. With the unwavering support of my site staff, which includes cleaners, maintenance personnel, supers, the leasing team, administrative support and a fearless security squad, The Oaks was on its way to becoming an award-winning property.

Since September 2009, we have implemented social programs supported by head office and spearheaded by a social development team comprised  The Oaks Revitalization Association (a registered charity set up by Greenwin) and Doorsteps Neighbourhood Services, an onsite community development organization. The revitalization initiative has had a ripple effect: FoodShare sponsored our community gardens, The Black Creek Conservation Project taught tenants and their kids how to build birdhouses, Earth Day Canada and Sobey’s planted trees on the property, Black Creek Community Health Centre produced our incredible mural, Eska supplied us with bottled water for all of our events and TD Securities has donated a basketball court, which will be up and running this summer.

We built a security committee that works closely with the Toronto Police Service, Intelligarde Security and neighbouring businesses. In this time, the amount of police visits has gone from several to minimal. Today, the site functions more like a town. Tenants have taken ownership of their home, engaging one another and staying actively involved in programming. It’s an environment where children want to play and parents feel secure allowing them to do so.

Suffice it to say, people who were once afraid to step outside are writing letters to thank us not only for cleaning up the property, but for ensuring that the new standard of safety and overall well-being of our tenants is maintained. In other words, the initial transformation is essential, but the follow-up is paramount. We develop and improve as we go, but the bottom line is giving people a living environment that they deserve and desire. A true testament to that is our vacancy rate, which has dropped from the double digits to below market, earning our Senior Leasing Manager Tracey Fisher FRPO’s 2010 award for Leasing Professional of the Year.

All this was achieved by building a foundation centred on one very simple principle: earn the trust of our tenants by rolling up our sleeves and doing whatever it takes to meet the social needs of the community. Once you build a certain level of trust, you’ve got lifetime tenants. This is what I do. This is what Greenwin is creating. And it’s a model that can and will be duplicated.

Eugene Bussoli is a Property Manager with Greenwin Inc.

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