2022 Property Management Insurance Forecast

Emerald Management & Realty Ltd. is proud of our insurance program that has been customized for the properties we manage.  With close to 50 years of property management service, Emerald has successfully leveraged its buying power and track record to obtain best in class preferred rates and robust coverage for its valued clients and property owners. As highlighted in 2021, the insurance market has been incredibly challenging for the real estate sector. 


2022 Property Management Outlook

As early as 2018, the insurance market started to experience a dramatic shift with reduced capacity creating a “hard market” that our team at Emerald Management & Realty Ltd. continues to navigate for our valued stakeholders.  The “hard market’ experienced since has been characterized with substantial rate and deductible increases, declined renewals along with reduced capacity and/or restrictions on renewals.

The 2022 Q1 predictions made in Q4 of 2021 indicate that the market is to transition and stability to some degree, and the market is now showing signs of this transition with increased capacity and some broader appetite from insurers.  Moving into 2022, the general consensus is that markets are still looking to hold their rates with concerns the 2021 claims results are to some degree artificial due to the impact on activity globally with COVID-19.   This in addition to impact on claims costs due to global inflation and labor challenges still has many cautious.  While the market is transitioning, the outlook on some residential property remains tight especially where  the prior rate was before hard market as insurers are not providing any flexibility for rates below their required system rate.  The main concern is the impact of inflation on claim costs, as this has major effect as could appreciate looking at 15 to 45% increase on claims.

Despite these challenges, the forecast remains positive for real estate investors and condominium corporations.  This is good news as insurance companies continue to advise that market conditions are starting to improve and that there is a return to profitability necessary for the market to soften.1

What to Expect

In this current environment, even though insurers are cautiously optimistic and forecast a softer market in comparison to the past couple of years, they are still forecasting that where there is an increase in rates, mainly due to the impact of inflation on claims costs and capacity restraints, it should be between 5% and 15%.  In addition, it is anticipated that insurance companies will be seeking higher water damage deductibles and even where there is new capacity — it will be limited and expensive.

What are Key Factors Driving Insurance Costs

Key factors that continue to impact insurance rates for rental investment properties and condominium corporations are:

  • Increase in property values
  • Impact and the cost of record-high water and fire claims
  • Cost to insurers have increased from severe weather losses, market disruption and impact of COVID-19
  • Increase of building materials and construction due to disruption of supply chains, labour and inflation
  • New regulations from the national solvency regulation is being monitored as it has the potential of impact insurer capacity and drive up costs.
  • Increased focus on older buildings properties for detailed information on what insurers have identified as risk elements and opt not to renew without upgrades being undertaken.

How to keep property insurance costs down?

As the hard market continues to soften and property owners and condominium corporations adjust to the influences impacting pricing, you can impact insurance costs by2:

  1. Complete preventative maintenance and improvements to buildings and property
  2. Monitor your claims history and take steps to prevent future losses.
  3. Invests in a risk management program and loss prevention planning.

Emerald Management & Realty Ltd. continues to focus on the current insurance environment and taking steps to minimize the impact of this shift on the pricing and coverage term for our clients.  As we head into Q2 of 2022, our team continues to negociate and advocate for our stakeholders. Part of our proprietary process includes our focus on achieving stability and retain loyal insurers for our stakeholders on our program.

Contact our team today to learn more about Emerald Management & Realty Ltd.’s practice and process that includes a program dedicated to achieving: low corporate rates, reasonable deductible levels, prompt claims management, coverage during vacancy, and rental revenue loss coverage in the event of an approved claim. 

The team at Emerald Management & Realty Ltd. is thrilled to share the news that they have received the PLATINUM CommunityVotes Calgary Award for Best Property Management 2021.  This is the 2nd year that the team at Emerald has received this prestigious award. More information about the award can be found under Media. 


  1. Lloyd Sadd | The Gap Between Hearing & Seeing (November 2021)
  2. CapriCMW | 2022 Strata Insurance Outlook 

Now Renting: Sundance Apartments

Your next rental home at Sundance Apartments is right around the corner!


Located in Downtown Calgary, the Sundance is conveniently situated in Calgary’s West End Core, just 2 blocks from River Valley pathways at 836 – 5 Avenue SW, Calgary.

ASK ABOUT INCENTIVES! Move-in ready 1 & 2 bedrooms available.

  • 1 bedrooms starting at $962/month (net incentives)
  • 2 bedrooms starting at $1146/month (net incentives)

*Prices are net incentive & all prices, availability and incentives are subject to change. Conditions apply.

Schedule a tour today of your next rental home and check out the urban rental lifestyle of living above it all in Downtown Calgary! Call Emerald Management & Realty Ltd. today at 403-237-8811 to book a tour of your next rental home!




The Sundance Apartments overs a variety of spacious and affordable layouts with spectacular views of downtown Calgary and the beautiful landscape of the north west.

  • Electricity is a flat monthly rate is $50 per month (1 bedrooms) and $75 per month (2 bedrooms)
  • Enjoy incredible views to enjoy while living and/or working above all that downtown Calgary has to offer
  • Close proximity to several green spaces
  • Conveniently located by the C-Train, Bow River bike and pedestrian pathways
  • Public transit and proximity to major traffic routes makes it easy to access grocery stores, local shops, nightlife, restaurants and coffee shops
  • Outstanding shopping at the CORE, TD Square, Kensington & 17 Avenue SW
  • Prince’s Island and Eau Claire Village is nearby and accessible for the health enthusiast seeking to take advantage of the bow river pathway
  • Fitness a top priority? … you are just minutes from outdoor tennis courts, golf, REPSOL Sports Center … AND endless walking/jogging/biking opportunities
  • Close proximity to SAIT, University of Calgary, Bow Valley College,  Mount Royal University and Western Canada High School

The Sundance Apartment Features:

Sundance Apartments is located in Calgary’s West End Core, conveniently located 2 blocks from River Valley pathways. Easy access to pubs, great restaurants, art galleries and shopping malls. In addition to the great location and close proximity to everything Downtown Calgary has to offer. In addition:

  • The building has a positive atmosphere
  • Friendly on-site resident management, and larger updated and renovated suites
  • Onsite Manager available during business hours
  • Utilities included: Heat, Water AND Electricity
  • Smart Card laundry access
  • Underground and covered parking available starting at $50/month
  • In-suite storage
  • Restaurants and convenience store located in the building 
  • Private balcony
  • Elevators
  • Welcoming lobby
  • Spectacular City views

Your next rental home at The Sundance Apartments is just around the corner! Contact our friendly team at Emerald Management & Realty Ltd. by calling 403-237-8811 and book your personal tour today!


Understanding the Responsibilities of Renting Out Your Condo Unit

Renting out your condo property comes with many responsibilities, and without having a clear understanding of what you are committing to, it could be a costly endeavour.

The Residential Tenancies Act legally oversees rental property obligations, which helps govern the rights of both the landlord and the tenant.  When renting out a condominium unit you are also governed by the Condominium Property Act and its responsibilities.

We have compiled some of the most crucial information for landlords listing their condos for rent.


Understanding Maintenance Responsibilities

As the property owner or landlord, your list of responsibilities is far greater than the tenants. Not only are you legally obligated to ensure that your condo meets all the requirements, but you are also financially responsible for them as well.

You must ensure your condo meets the following standards, both at the beginning and through the duration of occupancy:

  • Structurally sound and maintained, including windows, doors, walls, roofs, ceilings, floors, and stairs
  • Sanitary and safe
  • Includes a working fridge and stove
  • Working heating, plumbing, and electrical
  • Properly sealed so rain, wind, and snow can’t enter
  • Meets the minimum housing, fire, building, and health standards

The tenant has some maintenance responsibilities, however. They must repair any damage they cause to the condo, unclog drains and toilets, replace light bulbs, and of course, keep the property clean. The tenant must also inform the landlord of any repairs required within a reasonable amount of time. 

Repair requests in writing help ensure both the tenant and the landlord understand the nature and the timeline of the repair to minimize inconvenience, expense, or further damage.

Of note, some of these responsibilities may fall under the control and management of the condominium corporation and its condominium board.  Don’t forget to review your condominium bylaws to make sure that you understand your associated condominium owner responsibilities.


Understanding Legal Responsibilities

The legal responsibilities of a rental property protect the health and safety of the occupants and surrounding properties. To rent out your condo, it must meet all Public Health Laws ensuring there is no risk of mold, gas leaks, or unsanitary conditions.

The condo must also comply with all zoning bylaws, local building codes, municipal property standards, and the condominium bylaws, and is not limited to the unit’s interior. The exterior and common areas are subject to the same regulations, and as a landlord, you must ensure they are clean, free of debris, and easy to access. 

These areas include:

  • Hallways
  • Elevators
  • Stairs
  • Parking lots

You must also make sure that you and your tenant understand your legal obligations when it comes to your condominium bylaws.  Often, your condominium community will have rules when it comes to your rental tenant and information around disclosures etc..,

Landowners who don’t abide by their legal responsibilities could be in for a rough and very expensive experience, the least of which are maintenance costs. Lengthy and costly lawsuits can drastically impact your pocketbook and stress levels. 


Understanding Tenant Privacy

Your condo is an enormous investment of time and money, and one you are likely going to protect. Some landlords are so protective that they breach the privacy rights of their tenants, intentionally or not.

Of course, in some cases, a landlord must access the property immediately, such as in the case of an emergency. The rest of the time they must comply with Tenant Privacy laws.

For instance, according to the Canadian Mortgage and Housing Corporation (CMHC), landlords must not:

  • Interfere with the reasonable enjoyment of the premises by the tenant, household members, or guests
  • Harass, obstruct, coerce, threaten, or interfere with the tenant
  • Seize, without legal process, a tenants property for rent default or any other break of obligation

When access to the property is required, adequate notice must be given and agreed upon between the landlord and tenant.  


Renting Your Condo Made Easy

Take the hassle out of renting your condominium with a professional property management company, such as Emerald Management & Realty Ltd. 

With Emerald Management & Realty, you can leave the details of your property management, tenant care, and maintenance in their capable hands. 

INQUIRE TODAY online or by calling 403-237-8600.


Hidden Costs That Eat Up Your Rental Property Profits

Owning rental property is an excellent investment, but with great profits and investment growth, comes the potential for significant expenses. Unfortunately, property owners can be unaware of the costs involved and become overwhelmed as bills stack up.


To learn more about protecting your rental property profits, read about the tips and pitfalls that successful owners use to avoid losing more money than they make.


Consider Fees, Property Tax, and Insurance


Property tax accumulates whether a rental property is occupied or vacant. While owners factor tax costs into the monthly rental rate, they pay out of pocket without tenants to cover the expense.  We recommend that you review your property tax assessments for any opportunity to appeal.


Property insurance is another necessary expense to protect the owner’s investment. However, rental property insurance costs more than typical homeowners’ insurance, and getting the right policy is crucial. If the policy costs more than the owner estimated in the rent, it takes another chunk out of their profits.  To learn more about what you should consider when it comes to placing insurance on rental investment properties, visit: Emerald Management & Realty Ltd.’s Blog Category – Insurance.


Legal services and matters are part of rental property management. Those expenses can quickly add up should a tenant’s legal matters escalate.  


Other miscellaneous expenses include credit check fees and potentially (depending on the type of rental property) condominium corporation fees and contributions. 


The Reality of Maintenance Issues


The happier the tenant, the longer they stay, and the smoother it goes when issues arise, resulting in more profits for the owner.  Maintenance is a very real pain point for tenants!


Indoor and outdoor maintenance includes:


  • Electrical, plumbing & heating
  • Windows and doors
  • Roof, siding, and trim repair
  • Pest control and prevention
  • Yard landscaping
  • Sidewalk repair & cleaning
  • Flooring, cabinets, counters & fixtures
  • Appliances
  • Wall, door, and trim paint


Maintenance is a reality and without regular upkeep, a minor issue can quickly escalate into a big one with the large price tag to go with it. Preventative maintenance also assists to grow your real estate investment by preserving and protecting your equity.


Owners should update and renovate the property before occupancy, ensuring that any issues that arise afterward are minor. Not only is it more affordable to repair, but it is less hassle for the owner and the tenant in the long run.


Hiring Incompetent Contractors or Service Providers


No one wants to pay more than necessary, and it is tempting to take the lowest bid or pay the lowest fees in an attempt to protect profits.


However, this backfires when the lowest price comes with inadequate services, hassles, and mistakes that end up costing more in the end. 


By doing the homework of checking reviews and qualifications, owners and property managers create a network of reliable and trustworthy professionals they can turn to time and again.


Here is a list of professionals a property owner needs:


  • Real Estate Agent
  • Licensed Property Management Company
  • Property Maintenance Company
  • Real Estate Attorney
  • Professional Accountant 


It also saves time and money if you find a licensed property management company that offers several services.


The Cost of Vacancy


The vacancy can end up costing property owners more than they make. In addition, unreliable tenants who damage property or are late paying rent are expensive and lead to evictions. 


An extended vacancy in a rental property is a costly issue that every owner wants to avoid. So, they consider researching market rental rates, and when applicable, offering promotions or rental incentives such as one month free to attract potential renters. 


These promotions may solve vacancies, but they can attract less-than-ideal tenants and create more problems in the long run. You can also ask for feedback from prospective tenants.   Maybe the issue isn’t rent but the condition of your rental investment property: is it clean? Are repairs necessary? Maybe a freshening up with some paint or new flooring will help you compete against other properties in your area for rent.


Eliminate Unnecessary Costs With Professional Property Management Services


With a professional and licensed property management company, owners can hand off the hassle of maintenance, rent collection, credit checks, viewings, and revolving tenants. 


Emerald Management & Realty Ltd. offers Calgary and area property owners multiple services to keep profits high and task-load low to help you achieve peace of find. Handling all forms of residential and commercial property rentals, Emerald Management & Realty Ltd. brings almost 50 years of expertise to service rental property owners.


CONTACT Emerald Management & Realty Ltd. by calling 403-237-8600 or CLICK HERE.

1 2 3 37