Responsible property investing and property management

This paper explores the impact of fair labour practices on property performance, and assesses the applicability of RCPs in the Canadian property industry by exploring the use of such policies by real estate investors and managers in the United States. [...] Given that construc- tion and maintenance of commercial properties are vital components of the property supply chain, and that la- bour accounts for a significant portion of the cost of developing and maintaining properties, labour and human capital issues are key aspects of responsible property ownership and management, and may carry material risks and opportunities for property investors. [...] To do this, we first address the growth of precarious labour in the Canadian context and the consequences of this growth for workers, the businesses for which they work, and the investors and property managers that rely on those services. [...] The Impact of Precarious Work on Business and Investment The adverse social and economic impacts of this downward pressure on wages and working conditions within the property services industry can have important consequences for property investors, owners, and managers in terms of workforce stability, the quality of property services, and building security. [...] As Bill Atwood, state treasurer of Illinois, explained, “Responsible Contracting policies support sustainable and equitable employment practices within the context of fiduciary duties to maximize return and minimize risk, and within the context of the moral and ethical framework of the body politic.” “Responsible Contracting policies support sustainable The CalPERS Model and equitable employment p