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U.S. will get ‘hammered’ in global trade war: Barton

Posted in Communications, Finance, Industry Trends, Newsworthy

U.S. will get ‘hammered’ in global trade war: Barton

The chair of the Prime Minister’s economic advisory council says the United States could be one of the biggest losers in the event of a global trade war. “Hopefully, [that] common sense prevails, because trade wars don’t help anyone, particularly the United States,” McKinsey global managing partner Dominic Barton told BNN Bloomberg on Friday. “The United States is going to get hammered. You’ve heard the United States Chamber of Commerce and what they’re saying on this. This is like...

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Rent Increase Guideline for 2019 is 1.8%

Posted in Appraisal, Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Maintenance, Newsworthy, Real Estate Law, Rent Control, Suite Renovations

Rent Increase Guideline for 2019 is 1.8%

The rent increase guideline is 1.8% for increases between January 1 and December 31, 2019.  This is the maximum a landlord can increase most tenants’ rent during a year without the approval of the Landlord and Tenant Board. The guideline applies to most private residential rental units covered by the Residential Tenancies Act. In most cases, the rent for a unit can be increased 12 months after: the last rent increase a tenant first moves in A tenant must be given written notice of a rent...

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What are tenants’ rights under proposed marijuana laws?

Posted in Bylaws / Regulations, Communications, Fire Safety, Health & Safety, Housing, HVAC / Mechanical, Industry Trends, Insurance, Interior Building, Janitorial, Legislation, Maintenance, Newsworthy, Real Estate Law, Utility Management

What are tenants’ rights under proposed marijuana laws?

With the federal government’s announcement to legalize recreational marijuana by October 2018, landlords across Canada have been raising concerns about marijuana use in rental units. Many landlords want to prohibit tenants from growing and smoking marijuana on their properties, but one lawyer says it may not be so easy. Bob Aaron, a Toronto-based real estate lawyer, said that just like with cigarette use, landlords may not be able to prevent all tenants from smoking marijuana inside their...

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Got $2,166 a month? — you’ll need it to rent a condo in Toronto, if you can find one

Posted in Development, Finance, Housing, Newsworthy

Got $2,166 a month? — you’ll need it to rent a condo in Toronto, if you can find one

Renting an apartment in Canada’s biggest city has become a losing battle as vacancy rates hit all-time lows. The feat is getting even harder, with supply tight and prices showing no sign of retreating. The vacancy rate in the fourth quarter was among the lowest ever, at 0.3 per cent, according to Urbanation Inc. The average monthly rent for a condominium rose by 9.1 per cent to $2,166 from a year earlier. That’s the second-largest increase since 2010, when Urbanation began tracking the number,...

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Starlight Investments and Blackstone Announce Canadian Multi-Family Partnership with Acquisition of Six Urban Toronto and Montreal Buildings Comprising 746 Units

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

Starlight Investments and Blackstone Announce Canadian Multi-Family Partnership with Acquisition of Six Urban Toronto and Montreal Buildings Comprising 746 Units

Starlight Investments (“Starlight”) and an affiliate of Blackstone Property Partners (“Blackstone”) are pleased to announce the formation of a joint venture to acquire a portfolio of six multi-family buildings comprised of 746 units (the “Portfolio”). The Portfolio is strategically located in the urban core of Canada’s economic hubs with five properties located in desirable Toronto neighbourhoods and one in Montréal. The partnership marks Blackstone’s first investment in Canadian multi-family...

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Rosenberg: U.S. recession coming in 12 months, S&P 500 has peaked

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

Rosenberg: U.S. recession coming in 12 months, S&P 500 has peaked

The January high in the S&P 500 will prove to be the peak of the bull market and a U.S. recession may start in the next 12 months, said David Rosenberg, chief economist and strategist at Gluskin Sheff & Associates Inc. “Cycles die, and you know how they die?” Rosenberg told the Inside ETFs Canada conference in Montreal on Thursday. “Because the Fed puts a bullet in its forehead.” The S&P 500 reached a record on Jan. 26 and has since dropped about 4 per cent. The market is in a...

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Toronto housing chill may soon extend to high-flying condo market

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

Toronto housing chill may soon extend to high-flying condo market

The chill that has crept over some segments of the Toronto housing market may soon extend to one of its persistent hot spots: condominiums. Evidence of a slowdown is emerging as new rules make it tougher to get a mortgage and borrowing costs rise for the first time in almost a decade. That’s reducing the appeal of Toronto condos, whose average price now exceeds $560,000. Projects are taking longer to sell and, in some areas, developers are using incentives to move units. “There are cash...

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Justin Trudeau announces date for legal marijuana

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

Justin Trudeau announces date for legal marijuana

Prime Minister Justin Trudeau announced Wednesday that marijuana will be legal in Canada starting Oct. 17, 2018. Justin Trudeau confirmed the long-awaited start date during Question Period in Ottawa, ending months of speculation surrounding when, precisely, Canadians will be able to purchase and consume the drug legally. The Liberals had initially aimed for July 1, Canada Day, but procedural issues and delays prevented them from reaching that target. The legislation outlining the federal...

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Tighter mortgage rules continue to take their toll on BC’s deteriorating housing affordability

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

Tighter mortgage rules continue to take their toll on BC’s deteriorating housing affordability

Similar to the rest of the country, stricter mortgage regulations that came into effect in January continued to weigh on BC home sales in May. Last month, a total of 8,837 homes changed hands across the province, a roughly 29 per cent decline from the 12,402 units sold a year ago, according to the latest data from the British Columbia Real Estate Association (BCREA), published Friday. “Across the country, the biggest hits [in demand] were in the higher priced markets, so Toronto and Vancouver...

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How can Doug Ford fix Toronto-area housing?

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

How can Doug Ford fix Toronto-area housing?

Premier-designate Doug Ford must make housing affordability a priority, say builders, realtors and urbanists. “This really is a generational challenge. The challenge of the folks who are going to live in the GTA over the next 25 years is something that needs to be the central focus of the provincial government,” said David Wilkes, CEO of the Building Industry and Land Development Association (BILD). He was among seven experts who told the Toronto Star how a new Ontario Progressive Conservative...

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