Key takeaways
What property managers can take from Michael’s approach
- Set the pace with communication. Not every job can be done right away, but tenants and investors feel better when you keep them updated on where things stand.
- Plan capital across the whole portfolio. Mapping roofs, paving, and HVAC work over 10 years shows where spending spikes, so you can smooth it out and avoid surprises.
- Use service requests to prevent the next call. One of Michael’s managers noticed the same Monday paper complaint every week and changed the cleaning schedule to fix it.
- Ask your people how they feel, then act on it. Canadian Urban runs anonymous surveys and town halls, shares the results, and reports back on its action plans.
- Don’t pick a janitorial bid on price alone. Compare cleanable hours, wages, equipment, and how the company treats its people, because those people will face your tenants every day.
About the guest
MC
Michael Caricari
Senior Vice President, Property Management, Canadian Urban Limited
Michael leads property management at Canadian Urban Limited, an investment management firm that has managed real estate for pension funds, institutions, and families for more than 50 years, from Vancouver to Halifax. He studied geography, got his start in facility management, spent 10 years at Oxford Properties, and joined Canadian Urban in 2021.
Episode summary
In this episode
Jared Sarbit talks with Michael Caricari, Senior Vice President of Property Management at Canadian Urban Limited, an investment management firm with a mostly industrial portfolio across Canada. Michael studied geography, took a temporary job typing operating manuals for a facility management firm, and built his career through 10 years at Oxford Properties and later Crown Property Management.
Michael explains the mindset property management takes, what Canadian Urban means by pace, and how his team plans capital spending across an entire portfolio. He shares how thinking like an owner and studying service request data help prevent problems, how AI could change building automation, and how anonymous surveys and town halls keep a national team engaged.
He also talks about learning through industry associations, his advice for aspiring property managers, and exactly how he wants his team to evaluate janitorial bids.
Chapters
- 0:00Episode preview
- 1:20Introducing Michael Caricari
- 1:46Who Canadian Urban Limited is
- 3:20From a geography degree to property management
- 6:56The mindset property management needs
- 8:39Pace and customer service
- 10:42Capital planning across a portfolio
- 12:51Thinking like an owner
- 14:22Using service request data
- 18:13AI and building automation
- 21:13Employee engagement and town halls
- 25:56Industry associations and learning
- 28:02A Calgary café with a purpose
- 30:40Getting involved with BOMA Toronto
- 31:52Advice for aspiring property managers
- 33:08How to evaluate janitorial bids
- 37:15The property he would love to manage
- 40:05Book recommendations
Jump to a chapter (18)
- 0:00Episode preview
- 1:20Introducing Michael Caricari
- 1:46Who Canadian Urban Limited is
- 3:20From a geography degree to property management
- 6:56The mindset property management needs
- 8:39Pace and customer service
- 10:42Capital planning across a portfolio
- 12:51Thinking like an owner
- 14:22Using service request data
- 18:13AI and building automation
- 21:13Employee engagement and town halls
- 25:56Industry associations and learning
- 28:02A Calgary café with a purpose
- 30:40Getting involved with BOMA Toronto
- 31:52Advice for aspiring property managers
- 33:08How to evaluate janitorial bids
- 37:15The property he would love to manage
- 40:05Book recommendations
From the conversation
Transcript excerpts
I think if you take care of people they’ll take care of your customers.
Michael CaricariPlay from 0:07
A word to all the young people out there… don’t ever say no to a temporary potential opportunity that could open a whole new door.
Michael CaricariPlay from 4:23
It’ll always boil down to okay well are they taking care of their people.
Michael CaricariPlay from 35:52
Comparing janitorial bids for your building?
We’ll walk your building with you and send a written cleaning scope and price. Free, no obligation.
Read the conversation
Full episode transcript
Show transcript
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FAQ
Questions about this episode
What is Canadian Urban Limited?
Canadian Urban Limited is an investment management firm that has managed real estate for pension funds, institutions, and high net worth families for more than 50 years. Michael Caricari says the portfolio is about 70% industrial, 15% office, 10% retail, and 5% multi-family, from Vancouver to Halifax.
What does pace mean in property management?
At Canadian Urban, pace means responding to tenants, investors, and colleagues in a timely way. It doesn’t mean rushing. It means keeping people informed about the status of a project, even when you don’t have the final answer yet.
How should property managers compare janitorial bids?
Michael says the lowest bid is rarely the right one. Start with a clear scope of work, then compare cleanable hours, staff wages, equipment, and employee engagement, since the cleaning team will be face to face with your tenants every day.
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