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Appraisal

REIT buys Edmonton mixed-use rental portfolio for $205M

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

REIT buys Edmonton mixed-use rental portfolio for $205M

A three-complex, high-rise apartment portfolio with a total of 832 rental suites, plus commercial space, sold for $205 million, reports Marcus & Millichap. Property type: Multi-family Locations: Oliver Place: 10130 117 Street NW; Grand Central Manor: 10904 102 Avenue NW, 19094 109 Street NW, and 10903 103 Avenue NW; Riverside Towers: 8610/20 Jasper Avenue NW, Edmonton Number of units: 832 rental suites combined Commercial property size: 38,702 square feet (approx.) Built: Oliver Place,...

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Edmonton rental market sees vacancy rate decrease despite growing supply

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

Edmonton rental market sees vacancy rate decrease despite growing supply

The rental market got a little tighter over the last year in Edmonton with the vacancy rate falling to 4.9 per cent from 5.3 per cent in 2018, even though supply was on the rise. “The overall vacancy rate has decreased due to greater demand from a growing population supported by migration,” says Pershing Sun, Canada Mortgage and Housing Corp. market analyst. Despite growing demand, the market still remains favourable to renters in the city as supply continued to grow with “more than half of...

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Rents up 4.3% in Canada, Rentals.ca report says

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

Rents up 4.3% in Canada, Rentals.ca report says

Average monthly rents for 3 largest cities led surge in 2019: Toronto at 9%; Montreal at 25%; Vancouver at 11% The average monthly asking rent for Canada rose 4.3 per cent year over year at the end of December, according to the January National Rent Report from Rentals.ca and Bullpen Research & Consulting. The nation’s three largest cities experienced significant rent increases in 2019 for all property types listed on Rentals.ca: Toronto at 9 per cent; Montreal at 25 per cent and...

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GTA Rental Supply Pipeline Reaches Nearly 70,000 Units

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

GTA Rental Supply Pipeline Reaches Nearly 70,000 Units

Urbanation’s quarterly rental survey collects data for new purpose-built rental projects under construction and in the pre-construction development stage, as well as for every new purpose-built rental apartment project that has been completed in the Greater Toronto Area (GTA) since 2005. At the end of 2019, the number of purpose-built rentals under construction in the GTA reached 12,367 units — the highest level since the 1970s when modern rent controls were enacted. The number of rentals that...

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Go Big: Multi-family and commercial projected for continued strong growth in 2020 says new report

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

Go Big: Multi-family and commercial projected for continued strong growth in 2020 says new report

Earlier this month, Mississauga, Ontario-based real estate management company Morguard Corporation released its Economic Outlook and Market Fundamentals report. In its exploration of the trends driving Canada’s commercial, industrial, office, retail and multi-suite residential sectors, the report paints a decidedly positive picture of the prospects facing Canada’s non-residential investors. Heading into 2020, the office and purpose-built multi-family spaces are both expected to reward...

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Big city rental blues: a look at Canada’s rental housing deficit

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

Big city rental blues: a look at Canada’s rental housing deficit

A new report on Canada’s rental market argues for a new policy approach in favour of building new rental supply. Learn what this means for Canada’s biggest cities. Canada’s largest cities have a rental housing deficit. Strong demand has pushed rental vacancy rates to historically low levels and rents are now reaching uncomfortable highs. In the coming years, rental demand is only set to go up—way up in the case of Toronto and Vancouver, where high home prices have crushed some...

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Airbnb’s $30 Billion Listing Must Do More for Cities

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

Airbnb’s $30 Billion Listing Must Do More for Cities

Which would you prefer: cheaper rent or a cheaper holiday rental? I’d wager heavily that most people would answer “rent.” It’s a bigger slice of personal spending. Short-term accommodation accounted for just 1% of U.S. household budgets in 2016, compared to the 16% spent on housing, according to analysis from the Economic Policy Institute, a think tank based in Washington, D.C. The rise of the sharing economy means the prices of both are linked more than ever. Airbnb Inc., which revolutionized...

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2020 Canadian Property Assessment Appeal Deadlines

Posted in Appraisal, Bylaws / Regulations, Communications, Finance, Housing, Newsworthy

2020 Canadian Property Assessment Appeal Deadlines

Take the time to review your property assessment when it arrives and download the 2020 Canadian Property Assessment Appeal Deadlines to track key deadlines in your region. Why should you review? Property taxes can be a significant cost to your business. The only way to ensure your taxes are fair and equitable is to review your assessment notice. You will then have a limited amount of time to appeal the assessed value of your property which can, in turn, lower the amount of property taxes owed....

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2020 rents will increase to start decade of tighter rental market

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

2020 rents will increase to start decade of tighter rental market

Experts call for creative, collaborative solutions to rising rents, affordability, lower vacancy rates Rents will continue to climb in 2020 in major metropolitan areas in Canada, but while the increases won’t be as much as the last few years, finding the right rental will continue to be a challenge, according to housing experts from around the country.  The average rental rates will increase by 3 per cent year over year on a national basis in 2020, according to the December National Rent...

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RHB TV: Interview with Benjamin Tal

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

RHB TV: Interview with Benjamin Tal

Don’t miss our exclusive interview with Benjamin Tal as we discuss the current state and future trends of the rental housing market. WATCH NOW!

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