Canada’s one stop platform and the #1 National voice to the rental housing industry

Housing

Immigrant demand to fuel housing activity in the largest cities

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

Immigrant demand to fuel housing activity in the largest cities

Immigrants, mostly young individuals and households, will account for a significant portion of renewed housing demand in Canada’s largest cities, according to RBC Economic Research. The millennial influx will be especially important in light of the increasingly important role that the tech industry is plating in Canadian real estate. Considering the nation’s status as a world leader in innovation, a significant portion of the demographic is expected to work in the technology sector. In 2018...

read more

World’s tallest wood tower proposed in Vancouver

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

World’s tallest wood tower proposed in Vancouver

A Vancouver developer is proposing a new 35 to 40 storey tower for the Broadway corridor, but the plan isn’t for a typical high rise. Bruce Langereis, president of Delta Land Corporation, is working with architect Peter Busby from Perkins + Will to design a mass timber building that could revolutionize the way developers build. The tower would be mostly mass timber, likely with a concrete core. The building will use a fraction of the carbon needed to build something similar in steel. According...

read more

Toronto – Vital Service Disruptions in Apartment Buildings

Posted in Association News, Bylaws / Regulations, Communications, Fire Safety, Health & Safety, Housing, Industry Trends, Insurance, Legislation, Newsworthy

Toronto – Vital Service Disruptions in Apartment Buildings

Toronto’s Planning & Housing Committee meets tomorrow to discuss a Vital Service Disruptions in Apartment Buildings report.  The City emailed the details to your designated contact in their database, so you should have already received notice. The report “provides an update on measures being undertaken by the City of Toronto to respond to Council directives on apartment building safety issues identified in the St. Jamestown catchment area.“ We have all closely followed...

read more

‘Unicorn sites’ touted to boost housing supply

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

‘Unicorn sites’ touted to boost housing supply

Rental completions in Toronto hit a quarter-century high during Q1-2019, and it’s buoying hopes that the city might finally be on its way towards solving a critical supply problem. The 1,849 units were nearly five times the quarterly average going back to the first quarter of 2016, according to Urbanation, which furthermore noted that, considering there have only been 13,250 units built in 14 years, it is a considerable improvement. “While vacancy rates surveyed within purpose-built projects...

read more

Post-graduate housing complexes to arise in Montreal

Posted in CMHC, Communications, Development, Housing, Industry Trends, Student Housing

Post-graduate housing complexes to arise in Montreal

The federal and Quebec governments have announced the first of a series of new developments aimed at the growing post-graduate student demographic in Montreal. Woodnote Co-operative is slated to be a 90-unit affordable housing project, and it will herald the construction of over 160 affordable rental units in up to three separate developments across the city. “Post-secondary students in Quebec will soon have new affordable housing options thanks to a new funding model dedicated to creating...

read more

Bank of Canada abandons rate-hike bias amid economic slowdown

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

Bank of Canada abandons rate-hike bias amid economic slowdown

Policy makers in Ottawa left their benchmark overnight rate unchanged at 1.75 per cent for a fourth straight decision Wednesday, and dropped a reference to future increases that had been in every rate statement since the end of 2017. While Poloz had been reluctant to fully discard the idea that his next step is likely higher — making him a bit of an outlier — Wednesday’s changes indicate policy makers now expect interest rates to remain on hold indefinitely as the economy copes...

read more

Tenant’s Insurance

Posted in Bylaws / Regulations, Communications, Fire Safety, Health & Safety, Housing, Insurance, Legislation, Newsworthy

Tenant’s Insurance

It’s not uncommon lately to see on the news that a fire, flood or other natural disaster has left a building uninhabitable, and tenants without insurance leaving them without a home or possessions. Statistics Canada says that less than 50% of renters purchase tenant’s insurance. Owners and managers understand the risk and are looking for ways to reduce their exposure to damage caused by tenants. The issues for owners are encouraging tenants to protect themselves and to confirm tenants maintain...

read more

1 dead, hundreds of homes evacuated as floods swamp eastern Canada

Posted in Communications, Finance, Health & Safety, Housing, Insurance, Newsworthy

1 dead, hundreds of homes evacuated as floods swamp eastern Canada

One woman has died and hundreds have been forced from their homes after spring flooding washed out parts of Quebec and eastern Canada, prompting the deployment of Canadian Armed Forced soldiers to provide assistance as waters continue to rise. A 72-year-old woman died Saturday morning after driving her car into a massive sinkhole caused by flooding in Pontiac, Que., police said. Other drivers parked nearby tried to warn the woman, identified as Louise Seguin Lortie, but she couldn’t stop in...

read more

Housing Market Insight: Non-individual owned real estate

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

Housing Market Insight: Non-individual owned real estate

CMHC’s latest Housing Market Insight (HMI) looks at the ownership of residential property (including vacant land) in British Columbia (B.C.), Ontario and Nova Scotia. Using data from Statistics Canada, the HMI shows, specifically, how much residential property is owned by individuals and non-individuals. Who are non-individual owners? Non-individual owners fall into separate categories according to various factors, including their legal status. They can be corporations, governments, sole...

read more

Luxury homeowners renting to avoid Vancouver’s EHT

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

Luxury homeowners renting to avoid Vancouver’s EHT

Students and other renters in Vancouver are able to live in luxury thanks to Vancouver’s tax on vacant homes. Rather than pay the Empty Homes Tax, some owners of high-end homes are renting out their properties according to a report by Bloomberg, especially as sales have weakened. With wealthy Chinese owners pulling back and home prices impacted by the mortgage stress test, a growing number of owners are turning to the rental market where the vacancy rate has been near-zero. It’s easy to see...

read more