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Communications

Calgary Dollars Relaunches As Canada’s First Local, Digital Currency

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

Calgary Dollars Relaunches As Canada’s First Local, Digital Currency

It’s not real money, but you can spend it like real money. Calgary is breaking new financial territory in Canada, becoming the first city to have its own local, digital currency. Sometimes referred to as complementary currencies or micro-currencies, local currencies operate alongside federal currencies — not as a replacement, Calgary Dollars manager Gerald Wheatley told HuffPost Canada. “A complementary currency has lots of benefits, from saving your federal dollars, to making...

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In scathing pre-election report, Ontario auditor general says deficit is $11.7B, not $6.7B

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

In scathing pre-election report, Ontario auditor general says deficit is $11.7B, not $6.7B

Ontario’s fiscal watchdog is warning that the province’s deficit projections are billions of dollars more than disclosed in last month’s budget. Auditor General Bonnie Lysyk, who is in an ongoing accounting dispute with Premier Kathleen Wynne’s Liberals, said this year’s shortfall is $11.7 billion, not $6.7 billion, as Finance Minister Charles Sousa forecast March 28. “When expenses are understated, the perception is created that government has more money available than it actually does,”...

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Ontario Auditor General finds serious concerns over elevator safety

Posted in Bylaws / Regulations, Communications, Development, Elevators, Health & Safety, Housing, Industry Trends, Maintenance, Ministry Of Labour

Ontario Auditor General finds serious concerns over elevator safety

A scathing report from Ontario’s Auditor General raises serious concerns about the state of elevator safety in the province, but members of the industry say the public isn’t at risk. In her report, released Wednesday, Auditor General Bonnie Lysyk slams the agency that regulates elevators, the Technical Standards and Safety Authority (TSSA) for poor oversight. She writes that in 2018, just over 80 per cent of elevators failed their TSSA inspection. “Most Ontario elevators and escalators are not...

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Average vacancy rate across Canada decreases to 2.4%

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

Average vacancy rate across Canada decreases to 2.4%

According to CMHC, the average rental vacancy rate in major centres across Canada decreased from 3.0% in October 2017 to 2.4% in October 2018. Vacancy rates declined in Quebec, Alberta, Saskatchewan and the Atlantic provinces, while increasing by various amounts in centres in Ontario, British Columbia and Manitoba. CFAA President, John Dickie, says, “Despite low vacancy rates, the turnover rates show that there is adequate access to rental housing in some form in almost all centres, but more...

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Toronto Alliance to End Homelessness

Posted in Appraisal, Bylaws / Regulations, Communications, Development, Finance, Health & Safety, Housing, Newsworthy, Real Estate Law

Toronto Alliance to End Homelessness

In November 2018, the City of Toronto released the results of its 2018 Street Needs Assessment survey.  On the night of April 26, 2018 there were 8,700 individuals and families counted as homeless and either using shelters, respite sites, 24-hour drop-ins, motels or sleeping outdoors. The Toronto Alliance to End Homelessness (TAEH) is a collective impact initiative committed to ending homelessness in Toronto.  TAEH is working with the City to rapidly find units of permanent housing and match...

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Bitter lawsuit between wealthy developers reveals delays, downsizing of Yaletown affordable housing plan was inevitable

Posted in Appraisal, Bylaws / Regulations, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy, Rent Control, Tenancy Law

Bitter lawsuit between wealthy developers reveals delays, downsizing of Yaletown affordable housing plan was inevitable

Thirty years ago, a deal between the provincial government and a private developer earmarked six large lots in Yaletown for affordable housing. Several weeks ago, the city announced affordable housing would be built on just three of the lots. Two business tycoons waged a little-known and vicious battle in and out of B.C. court over six empty Yaletown lots, assessed at a pittance because for three decades they have been designated for affordable housing. The high-stakes feud quietly escalated...

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Canadian firm Brookfield in talks to invest in Dubai property developer

Posted in Communications, Finance, Newsworthy

Canadian firm Brookfield in talks to invest in Dubai property developer

Brookfield Asset Management Inc. is in early talks for an investment in Dubai property developer Meraas Holding, according to people with knowledge of the matter, in a deal that would signal a vote of confidence in the emirate’s ailing property market. The Canadian firm is weighing options that would give it control of some retail properties from Meraas, including entering into a joint venture for those developments, the people said, declining to be identified as the deliberations are...

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Happy Chanukah!

Posted in Communications, Events, Newsworthy

Happy Chanukah!

May this festival of lights bring blessings upon you and all of your loved ones for happiness and health!

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Average vacancy rate across Canada decreases to 2.4%

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

Average vacancy rate across Canada decreases to 2.4%

Average vacancy rate across Canada decreases to 2.4% According to CMHC, the average rental vacancy rate in major centres across Canada decreased from 3.0% in October 2017 to 2.4% in October 2018. Vacancy rates declined in Quebec, Alberta, Saskatchewan and the Atlantic provinces, while increasing by various amounts in centres in Ontario, British Columbia and Manitoba. CFAA President, John Dickie, says, “Despite low vacancy rates, the turnover rates show that there is adequate access to rental...

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October 2018 Rent Report

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

October 2018 Rent Report

For the fifth time since mid-2017, the Bank of Canada raised interest rates, hiking the overnight rate by a quarter of a percentage point to 1.75 per cent on October 24th. Higher borrowing costs will continue to weigh on prospective first-time homebuyers, resulting in delayed buying, and increased rental demand. National Overview In October, the average rental property on Rentals.ca was listed for rent at $1,836 per month, with the median property listed for $1,700 per month. It should be...

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