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Canadian cities expected to become 2018’s commercial hotspots

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

Canadian cities expected to become 2018’s commercial hotspots

The Canadian commercial property segment came into the new year flush with the record-high successes of 2017, and a new report from Morguard predicted that five metropolitan markets in particular will enjoy robust strength in 2018. “There is a high supply of capital ready to be invested and Canadian commercial real estate is a proven performer. We are predicting another very busy and competitive market environment across the country in the coming year,” Morguard director of research Keith...

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The real ‘Manhattanization’ of Toronto’s housing market

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

The real ‘Manhattanization’ of Toronto’s housing market

When people talk about the Manhattanization of Toronto, they usually mean the myriad new skyscrapers and exorbitant price points. But the term might actually have more to do with how people live than how much they pay. New York has a relatively equal measure of renters to homeowners, but in Toronto the number skews heavily in favour of the latter. Yet with escalating pricing, there’s an emergent cohort of renters that’s only expected to grow. Heidi Schweichler, a broker with REMAX West Realty,...

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Canada’s RioCan Sets Its Sights on High-Value Tenants

Posted in Appraisal, Communications, Development, Employment, Industry Trends, Marketing, Newsworthy

Canada’s RioCan Sets Its Sights on High-Value Tenants

Retail isn’t dead. In fact, it’s key to Canada’s RioCan Real Estate Investment Trust as the REIT tries to grow its way out of the sector’s decline. Canada’s biggest retail landlord expects growth of 2 to 3 percent in net operating income from long-held properties this year, Chief Operating Officer Raghunath Davloor said on an earnings call Wednesday morning. Growth was 2.1 percent last year. While some tenants “have failed to adapt or disappeared, many others are thriving and eager to expand...

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Canada’s Pot Industry Is Hungry for Real Estate

Posted in Appraisal, Bylaws / Regulations, Communications, Development, Health & Safety, Industry Trends, Legislation, Newsworthy, Real Estate Law

Canada’s Pot Industry Is Hungry for Real Estate

Canada’s industrial real estate sector is as hot as it’s ever been and the legalization of recreational pot will only add to the demand. The country’s eight biggest weed companies will require more than 8 million square feet of space for growing marijuana by 2020, up more than fivefold from current levels, according to a report from brokerage Jones Lang LaSalle Canada. The estimate, which excludes logistics and distribution centers, would be about the size of Amazon.com Inc.’s Seattle...

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Bay Street calls on Morneau for plan to balance the budget

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

Bay Street calls on Morneau for plan to balance the budget

Bay Street wants Morneau’s budget to avoid tax hikes, new spending: BNN survey Federal Finance Minister Bill Morneau needs to hold the line – or even cut – federal taxes and get spending under control in his upcoming budget, according a BNN survey of Canadian economists, portfolio managers and corporate executives. “If they hike taxes they may as well shut down the country, we are done,” said Greg Taylor, portfolio manager at Redwood Asset Management, in the online poll conducted earlier this...

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Relief ahead for Vancouver’s tight housing market by late 2018, experts say

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

Relief ahead for Vancouver’s tight housing market by late 2018, experts say

The British Columbia Real Estate Association says home builders are responding to a lack of available homes by dramatically increasing multi-family housing starts. A real estate association watching Metro Vancouver’s tight and costly housing market predicts conditions should begin to ease by the third quarter of 2018. The British Columbia Real Estate Association says home builders are responding to a lack of available homes across the region by dramatically increasing multi-family housing...

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Visions of Pot Fumes and Steamy Grow-Ops Spook Canada’s Landlords

Posted in Bylaws / Regulations, Communications, Fire Safety, Health & Safety, Housing, Industry Trends, Insurance, Interior Building, Legal, Legislation, Maintenance, Newsworthy

Visions of Pot Fumes and Steamy Grow-Ops Spook Canada’s Landlords

Canadians will soon be able to add marijuana to their collection of household herbs, and that’s creating a nightmare for the country’s landlords. With Prime Minister Justin Trudeau set to legalize recreational weed in July, apartment owners are concerned about safety and potential damage to their buildings if tenants grow plants and smoke up in their units. Landlords are lobbying provincial governments for legislation that would ban marijuana use in rental units or allow them to add...

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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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