Edmonton-based Mayfield Administration Group Ltd., a property administration firm for rental flats and condominiums, continues to develop its footprint in Alberta because it prepares to broaden into different provinces, together with Ontario.
The corporate’s President and CEO AJ Sliwinsky defined that RENX Mayfield lately launched in Ontario.
“We’re exploring and taking our mannequin to Ontario and we are going to ultimately transfer to BC as nicely,” he stated.
Mayfield, which started operations in 1991, manages condominium buildings and condominium buildings in Edmonton and Calgary, the place it has roughly 3,500 flats and 4,000 condominium doorways. The corporate doesn’t personal any of those property.
“With inflation on gasoline and meals, we’re beginning to see a completely new migration to Alberta – Calgary and Edmonton. And lots of people want to these A-class, purpose-built condominium buildings,” Sliwinsky stated. That stated, including to the housing price in locations like Vancouver can also be holding individuals shifting to Alberta.
“We’re seeing a demographic on the market that’s Millennials, Gen Z after which empty nesters who’re leaving the suburbs and re-establishing themselves in these purpose-built A buildings.”
Roundabout Journey in Property Administration
Slivinsky’s journey to advance the Mayfield operation is an attention-grabbing one.
After incomes a commerce diploma at Lakehead College in Thunder Bay, he started working for Maple Leaf Meals in 1987 and was promoted to Calgary the place he ultimately grew to become a regional supervisor for Western Canada. He was later transferred to Toronto and dealt with Walmart and Costco accounts in North America.
“In 2001, I began investing in actual property. The explanation I began investing in actual property was due to a technical accident in 2001. I misplaced half my RSP cash within the inventory market and I believed ‘what am I going to do to take management of my well being?’ Slivinsky stated.
“I discovered that most individuals made their first million of their lives by investing in actual property. So I taught myself to spend money on actual property, beginning shopping for condos throughout Canada.
In 2003, Slivinsky grew to become the vice chairman of enterprise growth for a web-based gaming firm. 9 months later, the corporate requested him to maneuver to Cyprus to construct a contact middle.
“Individuals have been seeking to make on-line gaming unlawful and Europe was embracing on-line gaming and licensing, so we would have liked a extra bodily presence in Europe,” he stated of the transfer.
The operation started with two individuals, he stated, and inside three years there have been 127 individuals in a 24/7 operation working with clients in 12 languages.
Swap from Condos to Rental Flats
Whereas he was in Cyprus, he continued to spend money on actual property. He offered his condominium funding and commenced shopping for condominium buildings in Edmonton.
“Because the saying goes, I traded in these 4 inexperienced homes for a purple resort and in our fifth 12 months in Cyprus we grew to become the #1 contact middle on the planet in customer support,” he stated.
“We beat FedEx and Carnival Cruise Strains within the ultimate. One thing particular occurred on that island.
“I retired at 45 and went again to Calgary.”
In search of a hotter local weather to stay in, Slivinsky stated he and his spouse moved to Panama in 2010, “purchased a spot there and continued to spend money on actual property and develop my condominium portfolio.
“(I) has additionally written a e book, management code, It talks about values and inculcates a value-based tradition in a company. I really imagine that in such a brief span of time contact middle has made us No. 1 in a really established business.
“I believe the property administration enterprise may be very boring, complacent, not very technically sound and coming from a web-based background, and love actual property and spend money on actual property and handle in actual property I puzzled if I might purchase a property administration firm. I needed to see if I might disrupt the business and rework and construct a very world class asset administration firm.
Slivinsky had a number of corporations in Edmonton on the time that managed his portfolio.
Considered one of them was Mayfield. She contacted the proprietor and authentic founder and requested her if she would promote it. In 2016 he did, and Sliwinsky got down to present asset administration from an proprietor’s perspective — as a result of he owned the property.
Deal with high-end, feature-rich buildings
He stated that he’s additionally attempting to include the values that he has embodied in Mayfield in his e book.
“About two and a half years in the past . . . I might see that folks have been taking a look at leases in another way. They have been taking a look at them as a long-term answer to their housing wants, not as a short-term one,” he defined. “That is once we obtained into one of many purpose-built condominium buildings.
“That is an condominium constructing that’s model new, with the very best finish, but in addition extraordinarily opulent.
“We reinvented ourselves as an organization . . . the condominium business has actually dried up over the previous 5 or 6 years and condominium builders have been shifting into the purpose-built A property house, however with the intention of constructing an A-class. It’s totally totally different in the best way you construct a condominium and promote it, versus an condominium constructing and maintain it.
“There was a void for MMG to supply that experience on tips on how to construct these A-class properties. And that is the place we fell in and we have actually resonated with builders. We’re right here nearly each month to a number of builders. Which actually will depend on the experience we’ve got in managing these A properties.”
Slivinsky stated Mayfield is a totally licensed, registered and bonded actual property brokerage specializing in property, condominiums and asset administration. It supplies 24/7 on-call upkeep and certified managers for buildings.
Just lately, two new condominium properties being managed by Mayfield introduced that leasing has begun.
The Eleven Constructing is in Calgary’s Beltline neighborhood, with Intergulf Growth Group because the developer.
Rundle at Riverview Crossing is in Edmonton’s Beverly neighborhood and is being developed by boutique funding agency Ayrshire Group.