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Finance

Ontario sheds 59K part-time jobs as new $14 minimum wage begins

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

Ontario sheds 59K part-time jobs as new $14 minimum wage begins

Ontario shed some 59,300 part-time jobs in January — the same month the province hiked minimum wage some 20 per cent to $14 an hour, but experts say it may be too soon to know how much the two are correlated. The province shed 50,900 jobs total from December 2017, according to the Statistics Canada report. It gained approximately 8,500 full-time positions but lost roughly 59,300 part-time gigs, according to data provided by the agency, which noted the figures are rounded. That means...

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Trump to unveil US$1.5 trillion infrastructure plan

Posted in Communications, Development, Employment, Finance, Health & Safety, Housing, Industry Trends, Newsworthy

Trump to unveil US$1.5 trillion infrastructure plan

President Donald Trump is unveiling his long-awaited infrastructure plan, a US$1.5 trillion proposal that fulfills a number of campaign goals. But it relies heavily on state and local governments to produce much of the funding. The administration’s plan is centred on using US$200 billion in federal money to leverage local and state tax dollars to fix America’s infrastructure, such as roads, highways, ports and airports. Trump has repeatedly blamed the “crumbling” state...

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Province Releases Mandatory Lease Form. Implementation Date: On and After April 30, 2018

Posted in Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Legal, Legislation, Maintenance, Newsworthy, Payments Processing, Professional Services, Real Estate Law, Tenancy Law

Province Releases Mandatory Lease Form.  Implementation Date: On and After April 30, 2018

As expected, Ontario has introduced the mandatory “Prescribed Lease” to be used for all standard apartment rental units and tenancy agreements which are entered into on and after April 30, 2018.  This means that Landlords will have a very short time frame within which to change their administration process and implement the new form for new tenancies.  Here is a link to the “Standard Lease” form for your review: Standard Lease Agreement You may download a fillable...

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Calgary’s housing market in store for a “bumpy recovery” in 2018

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

Calgary’s housing market in store for a “bumpy recovery” in 2018

Although Calgary has emerged from its two-year economic slump, it might not be smooth sailing for the city’s housing market this year. In fact, the path to recovery is expected to be bumpy, according to the Calgary Real Estate Board’s (CREB) 2018 forecast, published today. With the market facing stricter mortgage regulations and higher interest rates, CREB predicts that these headwinds will likely offset the impact of the economy’s modest improvements this year, thereby prolonging the city’s...

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Renters pushed to the 905 as vacancies hit 16-year low: Report

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

Renters pushed to the 905 as vacancies hit 16-year low: Report

Tenants eye 905 region as average rent in downtown Toronto hits $2,392 in final quarter of 2017. The squeeze on Toronto-region rentals is approaching strangulation with a constrained supply and climbing rents. Condo rents, which rose 9 per cent across the region in the last quarter of 2017 to $2,166 on average, are pushing tenants out of the downtown and into buildings in the 905 area, according to a report from market research firm Urbanation. Its data on rentals leased through the Multiple...

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Rent rates in Toronto shot up significantly last year

Posted in Appraisal, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Tenancy Law

Rent rates in Toronto shot up significantly last year

In a new report, the Toronto Real Estate Board announced that the average rents for one-bedroom and two-bedroom condos in the GTA noticeably went up on an annual basis in Q4 2017, based on transactions reported by the metropolitan area’s brokers through the Board’s MLS® System. The average rent for one-bedroom condo apartments in TREB’s jurisdiction went up by 10.9% on a year-over-year basis in the 4th quarter, up to $1,970. Meanwhile, the average two-bedroom condom apartment rent increased by...

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Can marijuana dispensaries enhance home values?

Posted in Appraisal, Bylaws / Regulations, Communications, Condo Conversions, Finance, Housing, Industry Trends, Newsworthy, Tenancy Law

Can marijuana dispensaries enhance home values?

A report last week shed light on the surprisingly positive impact marijuana dispensaries have had on Denver, Colo. properties, raising their values US$27,000. But as Canada prepares for the legalization of pot, will dispensaries have the same effect on real estate in the Great White North? Christopher Alexander, executive vice president and regional director of REMAX Integra, thinks they will. For one, he expects crime rates to drop—provided the government doesn’t overprice the...

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This historically affordable Canadian city is now home to the country’s fastest rising rents

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

This historically affordable Canadian city is now home to the country’s fastest rising rents

Renters looking for an affordable alternative to Toronto and Vancouver have long looked to this city for relief — but they may soon have to look elsewhere. According to rental website PadMapper, Montreal now has the fastest rising rent in Canada. In January the average rent for a one-bedroom jumped a whopping 15.9 per cent year-over-year to $1,310. The increase in price makes Montreal the city with the fourth most expensive rent in Canada, though it still falls well below the top three cities...

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Canada Sold $1.2 Billion Of Weed To The World Last Year, StatCan Says

Posted in Bylaws / Regulations, Communications, Finance, Health & Safety, Industry Trends, Legal, Legislation, Newsworthy

Canada Sold $1.2 Billion Of Weed To The World Last Year, StatCan Says

The domestic pot industry is as large as tobacco, beer and wine combined. A new, provisional estimate by Statistics Canada suggests $1.2 billion worth of cannabis produced in Canada last year was illegally sold outside the country. The federal agency is releasing fresh cannabis-related figures as it tries to assess the magnitude of the black market in preparation for Ottawa’s expected plan to legalize recreational weed later this year. The report says about 20 per cent of the pot...

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Vancouver is world’s 3rd least affordable city – report

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

Vancouver is world’s 3rd least affordable city – report

Vancouver is the least affordable city in Canada and the third least affordable in the world, according to the Demographia International Housing Affordability Survey. The annual report ranked Hong Kong first – for the eighth consecutive year – followed by Sydney. Auckland and Melbourne rounded out the top five. Vancouver was the only Canadian city in the top ten. On the other hand, Ireland was ranked as the most affordable city. Rankings were based on the ratio of a city’s median housing price...

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