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

Rent Control

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,...

read more

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...

read more

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...

read more

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...

read more

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...

read more

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

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

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...

read more

Landlord Licensing Fees Result in Whopping Rent Increase

Posted in Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Legal, Legislation, Maintenance, Ministry Of Labour, Real Estate Law, Rent Control, Restoration, Retrofit, Suite Renovations, Tax Law, Tenancy Law

Landlord Licensing Fees Result in Whopping Rent Increase

The City of Waterloo is by far the greediest of all municipalities when it comes to the charges levied under its Landlord Licensing By-law.  Waterloo’s licensing fee and mandatory charges (the bulk of which go to its bureaucratic “cousin”, the Electrical Safety Authority) amount to over $1,000 per townhouse unit and are imposed on a “per bedroom” basis (the more bedrooms the higher the fee).  The fees are imposed on “converted residential dwellings”...

read more

Ontarians Are Quickly Losing Access To Affordable Housing

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

Ontarians Are Quickly Losing Access To Affordable Housing

Ontario’s vacancy rate is at the lowest level in 17 years, and there’s no relief for us on the horizon. It’s official. Ontario’s vacancy rate is at its lowest level in 17 years, and there’s no relief on the horizon. The most recent report by Canada Mortgage and Housing Corporation (CMHC) painted a grim picture of the province’s rental market, revealing that Ontario’s purpose-built vacancy rate dropped from 2.1 per cent to 1.6 per cent in the last year....

read more

Is rent control making Toronto’s vacancy squeeze worse?

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

Is rent control making Toronto’s vacancy squeeze worse?

There are other business complications in developing rentals that would loosen the vacancy squeeze. If developers were allowed to add 10 floors to every building proposal this year, there would be thousands of new rental units on the market in a short time, says Joseph Feldman, director of development for Camrost Felcorp. “Ten storeys — that takes an extra 10 weeks on the construction cycle. A new 10-storey building takes a couple of years,” he said. “By just allowing a couple more floors, the...

read more

Rental vacancy rates lowest in 16 years

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

Rental vacancy rates lowest in 16 years

National Vacancy rate decreases to 3.0% According to CMHC, the average rental vacancy rate in major centres across Canada decreased from 3.4% in October 2016 to 3.0% in October 2017. Vacancy rates remain low in Ontario and BC, and elevated in Alberta and Saskatchewan. CFAA President, John Dickie, says, “Despite low vacancy rates in Ontario and BC, the turnover and availability rates show that there is adequate access to rental housing in some form in almost all centres.” New rental supply in...

read more