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Rent Control

Court cases, rent strikes…are Toronto tenants rising up?

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

Court cases, rent strikes…are Toronto tenants rising up?

Unlike many tenants in Toronto, Jim McCarthy isn’t mad about yet another tall tower that’s popping up in his backyard. He has lived in an apartment at 45 Dunfield Ave. for nearly 20 years, and when Shiplake Properties Ltd. came up with a proposal two years ago for two new purpose-built rental towers in the area, he and other tenants figured they had to fight back. “The height of the buildings, the fact that they were going to be in our backyard, essentially taking away our visitors parking and...

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Winners and losers from Ontario’s Fair Housing Plan, one year later

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

Winners and losers from Ontario’s Fair Housing Plan, one year later

It’s been one year since the Ontario Fair Housing Plan changed the rules of the real estate game in the Toronto region, and it’s a dramatically different market 12 months later. Some 40 per cent fewer homes are changing hands year-over-year, according to the latest figures from the Toronto Real Estate Board. And the average Greater Toronto Area home price has slumped 15 per cent from frenzied peak of April 2017. While the year-over-year figure is alarming, the price correction was actually...

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Affordable Housing In Canada In Crisis As Rental Rates Climb, Supply Dwindles

Posted in Bylaws / Regulations, Communications, Health & Safety, Housing, Legislation, Maintenance, Newsworthy, Real Estate Law, Rent Control

Affordable Housing In Canada In Crisis As Rental Rates Climb, Supply Dwindles

VANCOUVER — Joanna Fletcher lives in a one-bedroom apartment on Vancouver’s east side with her 10-year-old son. The building has mice and mould, and her new landlord is threatening eviction. While she has plenty of reasons to leave, Fletcher says she’s fighting to stay for as long as possible because she can’t afford anything else in the area and leaving would mean disrupting her son’s school year. “It’s not just like I can pick up and go, there isn’t...

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Condo owners make big gains, but nearly half aren’t making enough rent to cover costs

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

Condo owners make big gains, but nearly half aren’t making enough rent to cover costs

About half of the newly completed condos in the GTA last year were bought as rental investments and these investors likely realized a return of about 155 per cent before closing costs Nearly half of all investors who bought condominiums completed in the Toronto area last year aren’t making enough rent to cover their holding costs, despite chalking up exceptional gains on the value of their properties, a new study finds. No less than 44 per cent of investors who took possession of new units in...

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CFAA Rental Housing Conference – Executive Roundtable now set

Posted in Association News, Bylaws / Regulations, CMHC, Communications, Development, Employment, Events, Finance, Housing, Industry Trends, Interior Building, Legal, Legislation, Maintenance, Marketing, Newsworthy, Professional Services, Real Estate Law, Rent Control, Senior Housing, Student Housing, Tax Law, Technology, Tenancy Law

CFAA Rental Housing Conference – Executive Roundtable now set

Join CFAA and landlords from across Canada in Vancouver this May 14 to 16. Hear what other rental housing leaders think is The Future of the Rental Housing Industry. Find out how other companies are solving new problems and seizing opportunities. Early registration closes this week! Book by Thursday, March 29 to save! Read on, or visit www.CFAA-RHC.ca for more information or to register! Education Sessions Sessions include: Economic Update – by keynote speaker Benjamin Tal Deputy Chief...

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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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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...

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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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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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