Insights from Mike McGahan: How this Leader Cultivates his Hamilton Real Estate Team
Mike McGahan is the President and CEO of CLV Group Inc., a property management company that has one of the largest and most diverse selections of residential rentals in Ontario and Montreal. He is also the CEO and Trustee of InterRent REIT.
With over 30 years of experience in real estate, Mike McGahan has successfully led CLV Group to become one of the top property management companies in Canada. To date, the management company has bought, sold, financed and managed properties of over 3 billion dollars, with the company continuing to impact the rental market in Hamilton, Ontario and its surrounding areas.
Part of CLV Group’s success can be attributed to McGahan’s core values and the appreciation and dedication he has for not only his clients, but also the team around him. His ethics were inspired by his own father, Don, who touched lives through his commitment to community service. McGahan watched his father change lives and it inspired him to do the same. As a result, he has included community involvement as a pillar in the culture of CLV Group and InterRent REIT.
What makes working at CLV Group different from other real estate or property management companies?
Mike McGahan: Our organization is all about our people. Our people are the ones who make the difference. We specifically look for people who will fit within our culture. We want people who display that entrepreneurial spirit, who have a passion for the space and a passion for real estate, who love a challenge and love working in a collaborative environment.
In your opinion, what can leaders do to cultivate their employees and encourage them to do their best work.
Mike McGahan: Keep the lines of communication open. Allow employees to present their ideas to senior management or to anybody in the company and actually have those ideas acted on. Company leaders need strong employees who radiate with determination in order to succeed. Management can offer things like mentorship or professional growth programs that provide employees with new opportunities for advancement. A good employee needs to be challenged. They need not to remain stagnant in their current position or they will grow bored and uninspired.
A combination of higher interest rates and home prices across Canada have dramatically increased the number of people looking for rental accommodations in Hamilton and the suburbs of Toronto. What is CLV Group doing to keep up with the demand?
Mike McGahan: Luckily in Hamilton, the area's rental vacancy rate is still below the 10-year average despite an increase in supply. At CLV Group, we have a portfolio of properties that are available for rent and range in affordability depending on the number of bedrooms and amenities. A lot of people are turning to the suburbs in search of rental properties in their price point that they can no longer find in Toronto. That’s boded well for Hamilton, so I think that is kind of exciting.
Briefly speak to what community service means to you and your team at CLV Group.
Mike McGahan: It’s a very important thing to get together as a community and as a company so we can all flourish together. We are very proud to be a community driven organization. We take pride in giving back to our specific communities that we manage but also to the community as a whole. To date we’ve raised over 5 million dollars for various charities throughout Ontario and Quebec.
At the end of the day it’s what you leave behind. It’s trying to make your community a much better place for everybody.