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Finance

B.C. economy to slow down, but real estate expected to maintain activity levels

Posted in Appraisal, Development, Employment, Finance, Housing, Newsworthy

B.C. economy to slow down, but real estate expected to maintain activity levels

In its annual economic report released last week, the Chartered Professional Accountants of British Columbia (CPABC) predicted a provincial GDP decline from 3.7 per cent in 2016 to 2.9 per cent in 2017, and further down to 2.0 per cent in 2018. Among the leading drivers of this development would be trade and investment uncertainty, along with the recent wildfires. The report quickly added, however, that “the construction industry and other real estate related industries will remain busy” for...

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Apartment due diligence: Unglamourous, but vital

Posted in Appraisal, Bylaws / Regulations, CMHC, Finance, Housing, Insurance, Legal, Newsworthy

Apartment due diligence: Unglamourous, but vital

The excitement and stress of negotiations have reached their peak as initial negotiations are concluding for your apartment acquisition. Now the realities of due diligence are rearing their ugly head. Due diligence is an unglamorous but vitally important part of any deal. At face value, it involves the careful review of a mountainous amount of documentation. But if done right it also requires discussions with a diverse array of employees, vendors, lenders, government agents and the current...

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Montreal residential sector surging to record highs

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

Montreal residential sector surging to record highs

Montreal’s hot real estate market continued to sizzle last month with record August sales and rising prices. The Greater Montreal Real Estate Board says booming condo sales drove an eight per cent increase in residential sales across the Montreal region. There were 2,899 sales, with condo transactions surging 19 per cent. Single-family homes that account for more than half of sales rose four per cent. The Island of Montreal led the way with a 12 per cent rise in sales. In an interview with The...

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Lower your energy bills

Posted in Appraisal, Communications, Finance, Housing, HVAC / Mechanical, Industry Trends, Maintenance, Retrofit, Utility Management

Lower your energy bills

  Upgrading to more energy-efficient natural gas equipment is easy and cost effective. Add in incentive programs, and your company can see an accelerated payback on your investment. Here’s an example of how Ontario multi-unit residential property managers are able to earn a return on investment and reduce their natural gas bill through incentive programs. The Situation A property management company in Ontario wanted to increase the energy efficiency of three multi-unit residential...

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Province Unlocking Land for New Affordable Housing in Toronto

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

Province Unlocking Land for New Affordable Housing in Toronto

This morning, Mayor John Tory was joined by Ontario’s Minister of Housing Peter Milczyn and other municipal and provincial representatives in Toronto’s West Don Lands, to announce the initiation of a process to secure a developer for several surplus provincially-owned land sites across the city. The development of the properties with mixed-income residential will include over 2,000 new rental housing units, with a minimum 20% of these units to be below market rents, while the...

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Marijuana legalization issues moving to the provinces

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

Marijuana legalization issues moving to the provinces

On September 13, CFAA President John Dickie appeared before the House of Commons Standing Committee on Health. While the committee recognizes that some tenants will be disturbed by tenants who are smoking or cultivating marijuana in their apartments, it was clear that any solutions to that problem are going to have to come from the provinces. For example, Quebec apparently intends to prohibit home growing. CFAA made the following points: Smoking marijuana should be banned anywhere that smoking...

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SKYLINE APARTMENT REIT SELLS $173M MULTI-RESIDENTIAL PORTFOLIO IN HAMILTON, ON 

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

SKYLINE APARTMENT REIT SELLS $173M MULTI-RESIDENTIAL PORTFOLIO IN HAMILTON, ON 

Skyline Group of Companies is pleased to announce the sale of $173M in multi-residential real estate assets from the Skyline Apartment REIT to Toronto-based Q Management LP. The sale consisted of 9 properties which comprised 11 buildings (total of 1,036 apartment units) located primarily in the city of Hamilton, ON. Skyline Apartment REIT had acquired the properties between 2009 and 2015, and has owned and managed them since. The disposition of these assets was completed on Wednesday,...

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While Toronto’s housing market melts down, Montreal’s sizzles

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

While Toronto’s housing market melts down, Montreal’s sizzles

The Greater Montreal Real Estate Board says booming condo sales drove an eight per cent increase in residential sales across the Montreal region. Montreal’s hot real estate market continued to sizzle last month with record August sales and rising prices. The Greater Montreal Real Estate Board says booming condo sales drove an eight per cent increase in residential sales across the Montreal region. There were 2,899 sales, with condo transactions surging 19 per cent. Single-family homes that...

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Resurgent London-St. Thomas housing segment posts record numbers

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

Resurgent London-St. Thomas housing segment posts record numbers

The London-St. Thomas housing market of southwest Ontario has posted its best numbers in over a decade, according to the region’s real estate professionals’ organization. “If you look at the historical data, last month turns out to be the best August for our members since 2005,” according to Jim Smith, 2017 president of the London and St. Thomas Association of REALTORS® (LSTAR). Data collated by the group indicated that 892 homes have been sold in the region in August 2017 alone. The number of...

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Can’t rule out anything: Economist reaction to the Bank of Canada’s rate decision

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

Can’t rule out anything: Economist reaction to the Bank of Canada’s rate decision

The Bank of Canada raised its key interest rate for the second time this year on Wednesday after what many analysts saw as a coin-flip decision. Here’s a round-up of how Bay Street is reacting to the central bank’s move up to one per cent: “The Bank of Canada took the fast lane in returning rates to 1.0%, hiking 25bp when most were expecting a hold until October. And there were maybe fewer hints of a prolonged pause in hikes from here than we would have expected, now that rates are...

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