Canada’s one stop platform and the #1 National voice to the rental housing industry

Appraisal

Housing Market Insight: Non-individual owned real estate

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law, Tax Law

Housing Market Insight: Non-individual owned real estate

CMHC’s latest Housing Market Insight (HMI) looks at the ownership of residential property (including vacant land) in British Columbia (B.C.), Ontario and Nova Scotia. Using data from Statistics Canada, the HMI shows, specifically, how much residential property is owned by individuals and non-individuals. Who are non-individual owners? Non-individual owners fall into separate categories according to various factors, including their legal status. They can be corporations, governments, sole...

read more

Luxury homeowners renting to avoid Vancouver’s EHT

Posted in Appraisal, Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law, Tax Law, Tenancy Law

Luxury homeowners renting to avoid Vancouver’s EHT

Students and other renters in Vancouver are able to live in luxury thanks to Vancouver’s tax on vacant homes. Rather than pay the Empty Homes Tax, some owners of high-end homes are renting out their properties according to a report by Bloomberg, especially as sales have weakened. With wealthy Chinese owners pulling back and home prices impacted by the mortgage stress test, a growing number of owners are turning to the rental market where the vacancy rate has been near-zero. It’s easy to see...

read more

Do residential tenants pay property tax? Of course they do

Posted in Appraisal, Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law, Tax Law, Tenancy Law

Do residential tenants pay property tax? Of course they do

Just about everyone believes that residential rental property owners pay the property tax as part of their operating costs. It’s a universal misperception that politicians and municipalities exploit to the detriment of landlords. Every tenant in every municipality in Ontario pays property tax as part of their rent. These property taxes are a “hidden” part of each tenant’s living expense obligation to their municipality, which provides them with education, police, fire, garbage collection,...

read more

Rental Completions Reach 25-Year High in Q1-2019

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Rental Completions Reach 25-Year High in Q1-2019

Milder Rent Growth Emerges as Supply Increases The number of purpose-built rental apartments that began occupancy in the GTA in Q1-2019 reached a more than 25-year high of 1,849 units, which was nearly five times greater than the quarterly average since Q1-2016 and represented significant growth considering only 13,520 units have been built since 2005. Demand for the newly completed rental buildings was strong, with several projects leasing close to half of their units by the end of the...

read more

Even more new condo projects are stalling all over the Vancouver area

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Even more new condo projects are stalling all over the Vancouver area

Lower Mainland condos are stuck in neutral. Earlier this year, researchers at MLA Advisory predicted BC developers would hold off on launching some Metro Vancouver and Fraser Valley condo projects until the market recovers. In the first quarter, developers brought 2,950 new units to market, down 40 percent from the 4,825 condos launched same time last year, according to MLA Advisory, the research branch of condo-marketing firm MLA. “The first quarter of 2019 saw a number of project delays as...

read more

Novelty units reap premium rents

Posted in Appraisal, Communications, Development, Finance, Housing, Industry Trends

Novelty units reap premium rents

Toronto, with its myriad condominiums, is short on a very particular kind of layout that could yield incredible returns for investors—that is, if they’re lucky enough to find one of these units. Units with two master bedrooms could reap premium rents for investors because no longer will the tenant with the larger bedroom carry the larger share of the monthly rent. “These units have tremendous potential because, very often, if you’re an investor and your unit has a typical layout, one of the...

read more

Toronto Skyline Evolution: Video Shows How City Is Transforming Amid Skyscraper Boom

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Toronto Skyline Evolution: Video Shows How City Is Transforming Amid Skyscraper Boom

Torontonians probably don’t need another ego boost, but here’s one anyway: The high-rise construction boom in Canada’s largest city is set to continue, and promises to reshape the city’s appearance in the coming years. Using data from the Skyscraper Center database, real estate site Point2 Homes estimates that there are currently 81 skyscrapers either under construction or in the planning phase around Toronto. That would be more than double the current tally. The city...

read more

Starlight acquires 45 buildings in less than 60 days

Posted in Appraisal, Communications, Finance, Housing, Industry Trends, Newsworthy

Starlight acquires 45 buildings in less than 60 days

Starlight Investments is a privately held Toronto-based, full service, multi-family and commercial real estate investment and asset management company driven by an experienced team of over 150 professionals. The company currently manages over $9.0 billion of direct real estate as well as real estate investment securities. Investment vehicles include institutional joint ventures, True North Commercial REIT, Starlight U.S. Multi-Family Funds and Starlight Capital Funds. Starlight Investment’s...

read more

Vancouver city council to consider removing developer incentives for new rental housing

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy

Vancouver city council to consider removing developer incentives for new rental housing

COPE councillor Jean Swanson has submitted a motion for consideration to “suspend, as soon as possible,” the development cost levy waiver private developers are provided for building market rental housing, until a review of Rental 100 is completed. She is requesting city staff to explore ways to use the municipality’s new rental-only zoning powers to incentivize new rental housing that “truly meets the needs of low and middle-income renters” and “stop incentivizing demovictions by excluding...

read more

Here’s what you could buy with the federal budget’s housing plan

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Housing, Industry Trends, Newsworthy

Here’s what you could buy with the federal budget’s housing plan

As part of its 2019 federal budget, Justin Trudeau’s government unveiled a program that aims to address housing affordability across the country. The plan includes Canadian Mortgage and Housing Corp. (CMHC) providing funds to help reduce mortgage costs for low- to middle-income first-time homebuyers. Under the First-Time Home Buyer’s Incentive, Ottawa is setting aside $1.25 billion over three years towards so-called shared equity mortgages, which it expects will be used by 100,000...

read more