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No relief for renters could be boon for investors

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

No relief for renters could be boon for investors

Renters in Canada’s two largest markets will still be fighting over scraps next year. The CMHC Rental Market Report on the country’s rental markets revealed Ontario and British Columbia have dangerously low vacancy rates, and that’s being exacerbated by low turnover, which itself is largely a consequence of unaffordability. The vacancy rate in Ontario decreased to 1.6% in autumn of this year from 2.1% during the same period last year, and the average rent is now $1,140, up 3.8%. However, the...

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Rental vacancy rates lowest in 16 years

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

Rental vacancy rates lowest in 16 years

National Vacancy rate decreases to 3.0% According to CMHC, the average rental vacancy rate in major centres across Canada decreased from 3.4% in October 2016 to 3.0% in October 2017. Vacancy rates remain low in Ontario and BC, and elevated in Alberta and Saskatchewan. CFAA President, John Dickie, says, “Despite low vacancy rates in Ontario and BC, the turnover and availability rates show that there is adequate access to rental housing in some form in almost all centres.” New rental supply in...

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Ontario Municipal Board Reform Update

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

Ontario Municipal Board Reform Update

Earlier this year the province introduced Bill 139. This legislation provides for significant amendments to Ontario’s land use planning system including the replacement of the Ontario Municipal Board (OMB) with a new body, known as the Land Planning Appeal Tribunal (the “LPAT”).  Bill 139 recently passed 2nd Reading in the legislature, and looks to be made into law before the holiday break. For more background on Bill 139 and its Implications click here.  To view how the Planning Approvals...

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National Housing Strategy a major step in the right direction

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

National Housing Strategy a major step in the right direction

The Canadian Federation of Apartment Associations (CFAA) applauds the federal government’s plan to improve support for low-income renters in the National Housing Strategy (NHS). In particular, CFAA applauds the plan to create a new portable housing benefit for some low-income renters in the private rental housing market, which is to be called the Canada Housing Benefit. CFAA commends the federal government for adding a portable housing benefit as a necessary pillar in its policy to reduce...

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EPIC 2017: A huge success!

Posted in Bylaws / Regulations, CMHC, Communications, Development, Elevators, Events, Finance, Housing, HVAC / Mechanical, Industry Trends, Insurance, Interior Building, Legislation, Maintenance, Newsworthy, Professional Services, Rebates, Restoration, Retrofit, Roofing, Suite Renovations, Technology, Utility Management

EPIC 2017: A huge success!

On Monday November 6th 2017 our industry was witness to the highly successful, informative, new and innovative show that brought LCD’s, Owners and trades together for a true insight on how to take advantage of industry incentive programs. RHB Magazine was the media sponsor of Energy Programs and Incentives Conference (EPIC) 2017, which showcases active energy programs within the City of Toronto, in addition to rebates and incentives that help building owners and managers, as well as engineers...

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CMHC partners to improve housing data in Canada

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Condo Conversions, Development, Finance, Housing, Industry Trends, Insurance, Legislation, Newsworthy, Professional Services, Real Estate Law

CMHC partners to improve housing data in Canada

At Canada Mortgage and Housing Corporation (CMHC), we see ourselves as Canada’s authority on housing. If we don’t have the answers or expertise in-house, we can tell you who does. That’s part of being a trusted source of information on housing. Being an authority means that we continuously work to maintain the data, tools and partnerships we need to have a complete picture of Canada’s housing markets. It also means that we need to identify the data gaps that stand in the way of bringing that...

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Federal corporate tax reform update

Posted in Bylaws / Regulations, Communications, Employment, Finance, Industry Trends, Legislation, Newsworthy, Tax Law

Federal corporate tax reform update

By John Dickie, President, Canadian Federation of Apartment Associations (CFAA) Between October 16 and 20, the Federal Government announced a decrease to the small business tax rate, and changes to its corporate tax reform proposals for Canadian-controlled private corporations (CCPCs), which were originally released on July 18, 2017. In October, the Government stated that it will not move forward with the proposed changes to restrict the use of the lifetime capital gains exemption by several...

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Rolling Out Legal Weed Comes With a High Price Tag for Canada

Posted in Bylaws / Regulations, Communications, Finance, Health & Safety, Housing, Industry Trends, Insurance, Legal, Legislation, Newsworthy, Real Estate Law, Tenancy Law

Rolling Out Legal Weed Comes With a High Price Tag for Canada

Enforcing Canada’s new legalized marijuana comes with a high price tag. The federal government will spend C$546 million ($426 million) over the next five years to implement its new cannabis laws, according to the latest budget forecast. Agencies such as Heath Canada and the Royal Canadian Mounted Police will receive a portion of the funds to license, inspect and enforce the new rules. A “cost recovery scheme” will also be implemented to reduce the overall spending on the initiative, according...

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City of Toronto- Enhanced MRAB Inspection Criteria & Reports

Posted in Appraisal, Bylaws / Regulations, Communications, Exterior Building, Finance, Health & Safety, Housing, HVAC / Mechanical, Industry Trends, Interior Building, Legislation, Maintenance, Newsworthy

City of Toronto- Enhanced MRAB Inspection Criteria & Reports

FRPO has received a copy of the City of Toronto’s Evaluation Letter, and their Evaluation Scorecard Report (provides a detailed scoring matrix including the 20 areas of review and evaluation criteria). Please click on each link below to review. RentSafeTO Building Evaluation letter  RentSafeTO Building Evaluation Report  From our ongoing discussions with the City staff, this year’s building inspections will largely focus on judging buildings relative to compliance with the old Property...

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Energy Programs and Incentives Conference (EPIC) 2017

Posted in Bylaws / Regulations, Communications, Development, Elevators, Events, Exterior Building, Finance, Housing, HVAC / Mechanical, Industry Trends, Interior Building, Legislation, Maintenance, Media Releases, Newsworthy, Professional Services, Restoration, Retrofit, Roofing, Suite Renovations, Technology, Utility Management

Energy Programs and Incentives Conference (EPIC) 2017

MINGO Rally presents: The Energy Programs and Incentives Conference (EPIC), Toronto   ONE FOCUS. ONE GOAL. Did you know that more than tens of $millions of energy incentives are available to building owners every year? Navigating the variety of energy programs and incentives available to apartment owners can be overwhelming and intimidating. EPIC – The Energy Programs and Incentives Conference, showcases active energy programs within the City of Toronto, along with their incentives...

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