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Tenancy Law

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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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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Preparing your Condo for Marijuana Legislation

Posted in Bylaws / Regulations, Communications, Health & Safety, Housing, Industry Trends, Insurance, Interior Building, Janitorial, Legal, Legislation, Newsworthy, Real Estate Law, Tenancy Law

Preparing your Condo for Marijuana Legislation

A recent CBC article discussed tools that some Ottawa condo corporations are using to address the upcoming legalization of marijuana. You can read the full article here: CBC: Gloucester Condo Marijuana Smoking Ban Each condominium community is different. Some condo corporations may not feel any new rules are necessary, while others may want to impose restrictions on marijuana use. Each Board should consider their own community and whether new rules are needed to promote the safety, security...

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Rent rates in Toronto shot up significantly last year

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

Rent rates in Toronto shot up significantly last year

In a new report, the Toronto Real Estate Board announced that the average rents for one-bedroom and two-bedroom condos in the GTA noticeably went up on an annual basis in Q4 2017, based on transactions reported by the metropolitan area’s brokers through the Board’s MLS® System. The average rent for one-bedroom condo apartments in TREB’s jurisdiction went up by 10.9% on a year-over-year basis in the 4th quarter, up to $1,970. Meanwhile, the average two-bedroom condom apartment rent increased by...

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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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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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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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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...

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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”...

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