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Newsworthy

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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RTA Changes: New Legislation Introduced

Posted in Bylaws / Regulations, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Maintenance, Newsworthy, Real Estate Law, Tenancy Law

RTA Changes: New Legislation Introduced

Further to the government’s announcement last Thursday that included the elimination of the 1991 Exemption on rent controls for new rental units, this afternoon the Minister of Housing introduced legislation that amends the Residential Tenancies Act. This bill, if passed, will expand rent control to all private rental units effective as of April 20, 2017 including those occupied on or after November 1, 1991; enable a standard lease; make changes to landlord’s own use eviction provisions;...

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LTB: Application fees now higher

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

LTB: Application fees now higher

LTB application fees have increased as of January 16, 2017. Most application fees have increased by approximately 10%. Also, a fee has been introduced for two tenant applications which were previously free, bringing all tenant applications to $50. Tenant application fees have not increased since the LTB was established in 1998. Landlord application fees were last increased in 2009. This chart compares the new fees with the old ones. Offsetting the Fee Changes for People with a Low Income...

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Parametric simulations in support of integrated design processes

Posted in Communications, Development, Exterior Building, Finance, Housing, HVAC / Mechanical, Industry Trends, Interior Building, Maintenance, Newsworthy, Professional Services, Restoration, Retrofit, Roofing, Suite Renovations, Technology, Utility Management, Waste Management

Parametric simulations in support of integrated design processes

Integrated, “whole-building” energy modelling is a process in which all design options related to a building’s energy consumption and generation are simulated and mapped. It is increasingly being used in support of building energy code compliance, green building standard evaluation, and utility and government incentive programs. Recent advances in both energy modelling software and computing power have made it easier to execute what are known as parametric simulations. These types of...

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The economics of developing purpose-built rental housing

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

The economics of developing purpose-built rental housing

CMHC commissioned a research project to assess the general economics of developing purpose-built rental apartment buildings in six of Canada’s major markets. These were Vancouver, Calgary, Winnipeg, Toronto, Montréal and Halifax. The project was undertaken to provide insight on current factors that can influence investors’ and developers’ decisions to fund purpose-built rental housing. To that end, the analysis used a pro forma spreadsheet tool. This tool was used to summarize the financial...

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Toronto finally has the most expensive rent in Canada

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

Toronto finally has the most expensive rent in Canada

For years, Vancouver has had the priciest rent in Canada. But according to one rental website, another city has now claimed that dubious title. According to data from Padmapper, the average rent for a one-bedroom Toronto apartment came in at a whopping $2,020 in January, edging Vancouver out of the top spot by twenty dollars. The change represents a massive 15.4 per cent year-over-year jump, as the city’s demand for rental grows ever stronger. Toronto’s apartment vacancy rate currently sits at...

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4 issues (other than NAFTA) Canadians should watch in Trump’s second year

Posted in Bylaws / Regulations, Communications, Development, Employment, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy, Tax Law

4 issues (other than NAFTA) Canadians should watch in Trump’s second year

U.S. President Donald Trump’s first year in office consisted of many surprises, Twitter rants, executive orders –  and uncertainties that still linger heading into year two. Trade was a big focal point as tensions between NAFTA partners continued to mount. In the Bank of Canada’s latest rate decision, Governor Stephen Poloz pointed to uncertainty surrounding the trade deal as “the big cloud” hanging over its economic forecast. While NAFTA may be Canada’s biggest concern involving the U.S....

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