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Communications

Relief for Some Landlords in the Latest Changes to the Pending CCPC Tax Reforms

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

Relief for Some Landlords in the Latest Changes to the Pending CCPC Tax Reforms

By John Dickie, President, Canadian Federation of Apartment Associations On December 13, 2017, Finance Minister Morneau released further changes to the tax reforms planned for Canadian Controlled Private Corporations (CCPCs). The latest changes will provide relief to some landlords. The federal tax reforms were first announced on July 18. After intense pressure from business people and business and professional groups, the reforms were then revised in the three announcements during the week of...

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Happy Holidays!

Posted in Communications, Events, Newsworthy

Happy Holidays!

May all your endeavours be met with huge success and appreciation. We would like to wish our readers, colleagues and the entire RHB family, a Happy New Year!

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Toronto Sets Tough New Rules On Airbnb Rentals

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

Toronto Sets Tough New Rules On Airbnb Rentals

Most of the city’s downtown Airbnbs only accept short-term rentals. Toronto city council has approved regulations for short-term rentals in the city that would apply to such services as Airbnb. The rules allow the rental of a principal residence only and homeowners won’t be allowed to list secondary suites, such as a basement apartment, for short-term rental. Entire home rentals will be capped at 180 days a year. The city will create a registry of short-term rental landlords who...

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Is rent control making Toronto’s vacancy squeeze worse?

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

Is rent control making Toronto’s vacancy squeeze worse?

There are other business complications in developing rentals that would loosen the vacancy squeeze. If developers were allowed to add 10 floors to every building proposal this year, there would be thousands of new rental units on the market in a short time, says Joseph Feldman, director of development for Camrost Felcorp. “Ten storeys — that takes an extra 10 weeks on the construction cycle. A new 10-storey building takes a couple of years,” he said. “By just allowing a couple more floors, the...

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Developers building more condos than ever before

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

Developers building more condos than ever before

Canadian real estate developers are on a tear, starting construction on a record number of multiple-unit projects. A November surge in everything from semi-detached homes to condos has brought the number of housing starts over the past 12 months to the highest on record in data going back to 1959, according to figures released Friday by the Canada Mortgage and Housing Corp. The jump surprised policy makers and analysts particularly given the softening that has taken place in the Toronto resale...

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How a zoning bylaw could transform 500 apartment sites across the city

Posted in Appraisal, Bylaws / Regulations, Communications, Development, Exterior Building, Finance, Health & Safety, Housing, Industry Trends, Legislation, Newsworthy, Recreational

How a zoning bylaw could transform 500 apartment sites across the city

Sabina Ali has seen what can happen when high-rise communities are transformed into community hubs. As chair of the Thorncliffe Park Women’s Committee, she helped revitalize the tower-heavy East York neighbourhood’s local park and playground from a sub-par gathering space into a hot spot with new swings, a splash pad, and a tandoor oven. But doing so, Ali said, meant navigating city hall — a tricky process. Now, she’s among the many Toronto residents hoping a new zoning...

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HAPPY HANUKKAH

Posted in Communications, Events

HAPPY HANUKKAH

As you celebrate the Festival of Lights, may your home be bright with happiness and love. From all of us to your families. Best Wishes and Happy Hanukkah!

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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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New initiative to boost purpose built rental development

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

New initiative to boost purpose built rental development

Ontario is encouraging developers to build purpose-built rental housing by offering millions in rebates. The province is offering rebates for development charges on new, purpose built rental housing, it announced Wednesday. “We believe everyone deserves a place they can call home. Building more rental housing not only helps individuals and families find places to live, it creates strong, vibrant communities,” Peter Milczyn, Minister of Housing and Minister Responsible for the Poverty Reduction...

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Red-Hot Jobs Market Gives Unexpected Boost to Canada’s Economy

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

Red-Hot Jobs Market Gives Unexpected Boost to Canada’s Economy

Canada’s economy is showing unexpected resiliency as the year ends with the strongest job market in a decade offsetting slumping exports. A sharp rise in new positions cut the jobless rate to 5.9 percent in November, Statistics Canada said Friday, one of the lowest readings ever in the past four decades and the first time the rate has fallen below 6 percent since 2008. Employers added 79,500 workers during the month, bringing gains over the past 12 months to nearly 400,000. Increased...

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