Canada’s apartment sector needs to engage in more data-sharing activities, says a leading multi-family property specialist.

Michelle Calloway, senior vice-president of operations at Minto Group, told Connect that more data sharing will benefit individual companies, their employees and the industry as a whole

“I think a lot of people are fearful to have a wrong answer,” she said in an interview. “And, I think it’s important you take a risk and ask that question in a group of people and not to hesitate or be fearful of being judged, and just continue to collaborate with other folks in the industry. So important.”

Based in Toronto, Colloway shares her views regularly while participating in panel discussions at industry events and in her day-to-day duties with Minto, where she seeks to expand data-sharing across the company through increased use of AI and other technologies.

“I’m all about making progress through transparency,” she said. “When we stay accountable to measure outcomes and share what works, we create a roadmap for the entire industry to improve. It’s been about being open consistently for me.”

Calloway sits on the board of the Federation of Rental Providers of Ontario and finds that sharing data at its conferences and other industry events is the best way to share data across the industry at this time. She would like to see companies open their doors so that executives can tour each other’s buildings, and also have meetings and coffee chats, to learn more about what does and does not work.

Calloway also favours increased use of AI so that building operations and maintenance system can share metrics on such matters as HVAC systems, energy and water use, ideas and experiences with new products. FRPO will hold a session on AI at its annual general meeting in Toronto in May.

“At Minto, we’re big advocates of the use of AI,” she said, adding that the company is constantly trying out new software and other technologies.

“We need to lean in as an industry,” she said, adding that AI can make a big difference in people’s daily lives.

“It can be used as a very powerful tool to streamline things. So, I definitely advocate for it. It’s changed so fast and significantly since we’ve all been introduced to it. The joke in the beginning was: When do I get my ROI on that utilization of that AI tool? But it doesn’t always translate that way. But the data is providing our teams [with many benefits.} It has been wildly effective, and we continue to just keep leaning into the programs.

Minto uses AI on both the rental-apartment and home-ownership sides of the business. Calloway noted that her revenue-management and leasing team use Microsoft CoPilot extensively as she constantly adds data. Minto will always maintain a boots-on-the-ground approach to operations management, but AI allows for better fact-checking of the collected data, she added.

“An AI tool is a real nice-to-have at no cost,” she said. “That’s one way [to benefit], but we’re really leaning in heavily with our partners at Yardi, which is our software [provider] that we utilize, and their upcoming launch of their platform platforms called Virtuoso.

“That being linked will not only help our teams with that ROI question that I mentioned earlier.”

Residents can also use Yardi to figure out how much they owe for rent and how they can pay it, among other matters. The technology can also be used for such matters as submitting a work order. Other uses could include finding ways to solve big-picture concerns, such as generating cost savings related to unit turnover or better ways to market a suite that has sat vacant for an extended period.

“So, we’re really looking forward to that launch of that product,” said Calloway.

Ottawa-based Minto is a fully integrated real estate investment, development and management company. Minto also controls and operates Minto Apartment REIT. Founded in 1955, Minto has built more than 100,000 new homes. It owns and manages residential and conventional commercial rental properties in Canada and the U.S.\

Minto is in the process of merging with Toronto-based Crestpoint as part of a take-private transaction. The proposed deal is well-advanced, according to recent statements by Minto.

Pictured: Michelle Calloway, senior vice-president of operations at Minto Group

Photo: Minto