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Finance

Ontario’s Fair Housing Plan: New rules for buying a property with a tenant

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

Ontario’s Fair Housing Plan: New rules for buying a property with a tenant

If you’re interested in buying a property, but it has a tenant, make sure to extend the closing date because the required notice days in Ontario have now doubled in length. In the past, only 30 days written notice was required to terminate a tenancy. Now it’s 60. Another glitch: the date the tenancy ends must coincide with the end of term or rent period. This could result in a full year passing before your client can move in. For example, if the tenant’s lease ends Dec. 1, 2018, your...

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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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40% of Canadians want Morneau out as finance minister: Survey

Posted in Communications, Finance, Newsworthy

40% of Canadians want Morneau out as finance minister: Survey

It’s gone from bad to worse for Finance Minister Bill Morneau. A new Nanos survey released Monday shows four out of every 10 Canadians want to see a new finance minister as public opinion sours over Morneau’s handling of controversial small business tax changes and the handling of his personal finances. Twenty-nine per cent said he should continue in his role, while 31 per cent are unsure. The critical stance is most pronounced in the Conservative-bastion of the prairies, where more than half...

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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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This Toronto building shows why developers are converting rentals to condos

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

This Toronto building shows why developers are converting rentals to condos

This week, a major new development’s condo units sold out, just days after they went on sale. But those same units had originally been designated as rental, before the new rent control legislation led the developers to have a change of heart. On Tuesday, RioCan and Allied Properties announced that the condo units at the downtown Toronto King Portland Centre — 133 units which went on sale just a few days before, on October 14 — where substantially sold out. “The strong response to the sales...

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Montreal residential sales up for the 14th straight quarter

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

Montreal residential sales up for the 14th straight quarter

The Montreal Census Metropolitan Area (CMA) saw a 9% year-over-year rise in total home sales during the third quarter of 2017 (up to 8,845), according to new data from the Greater Montreal Real Estate Board (GMREB). This represented the best Q3 sales result in Montreal since 2009 and the 14th straight quarter of increases, according to the Board, which derived the statistics from the Centris® provincial database. In terms of asset classes, condominiums posted the largest sales increase (+18%)...

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GWL Realty Advisors No. 1 on sustainability benchmark

Posted in Development, Finance, HVAC / Mechanical, Industry Trends, Newsworthy, Technology, Utility Management, Waste Management

GWL Realty Advisors No. 1 on sustainability benchmark

The Global Real Estate Benchmark (GRESB), which evaluates and ranks the sustainability practices of real estate companies, has named GWL Realty Advisors No. 1 in Canada. The benchmark is used by the investor community to better understand real estate companies’ environmental, social and governance activities and the sustainability performance of their portfolios. “We view the management of environmental, social and governance factors as part of our duty to our clients, being important to...

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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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