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Coronavirus

NOW IS THE TIME TO LEVERAGE TECHNOLOGY AND COMMUNICATION FOR A BETTER, SAFER EXPERIENCE

Posted in Coronavirus, Industry Trends, Interior Building, Laundry, New Products, Technology

NOW IS THE TIME TO LEVERAGE TECHNOLOGY AND COMMUNICATION FOR A BETTER, SAFER EXPERIENCE

We are all ready to move on from COVID-19. However, one need only step outside and see the number of masks people are wearing or see the numbers on the nightly news to be reminded that we’re not there yet. So, the bottom line is we are all quite concerned with safety and will be for the foreseeable future. The question for those in the multi-housing world of apartments and condominiums is what steps can you take in the laundry room to ensure residents feel safe? One simple way to turn the...

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HOW TECH CAN HELP YOU STREAMLINE YOUR WAY TO A LARGE PROPERTY PORTFOLIO

Posted in Coronavirus, Industry Trends, Newsworthy, Technology

HOW TECH CAN HELP YOU STREAMLINE YOUR WAY TO A LARGE PROPERTY PORTFOLIO

Starting small and building a property empire: that’s the dream for many landlords across the world, whether they’re investing in commercial buildings or securing their futures through residential rental opportunities. Fortunately for prospective landlords with the capital to get started, technology has afforded them a number of ways to streamline this process, helping them to build a large property portfolio faster than ever before. Let’s take a look at how tech can help you streamline your...

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NO RECOURSE WHEN TENANTS USE COVID AS EXCUSE NOT TO PAY RENT

Posted in Coronavirus, Evictions, Industry Trends, Landlord and Tenant Board, Newsworthy

NO RECOURSE WHEN TENANTS USE COVID AS EXCUSE NOT TO PAY RENT

Ryan Sills rented out his one-bedroom Etobicoke condo for the first time in December of 2019. He said his tenant was “OK” for the first couple of months — until COVID hit. When the tenant said he didn’t want to pay his $2,050-a-month rent, Sills told him he was happy to defer it until he could pay. The offer was refused. To date, Sills is owed more than $20,000 — despite his belief that his tenant has been collecting CERB. “I kind of got into renting at the worst possible time,” he said this...

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HERE’S WHAT TO EXPECT FROM VANCOUVER’S RENTAL MARKET THIS YEAR

Posted in CMHC, Coronavirus, Development, Industry Trends, Newsworthy, Rental Rates, Vacancy Rates

HERE’S WHAT TO EXPECT FROM VANCOUVER’S RENTAL MARKET THIS YEAR

Vancouver’s rental market in the first half of 2021 will not be significantly different from what landlords and tenants experienced during most of last year, according to a new report. “We don’t see many changes to the average monthly rental rates in the first half of 2021,” said Brock Lawson, Manager, Rental Data for British Columbia, Urban Analytics. “We’re still facing the same challenges in today’s landscape as we were in 2020.” Lawson said those challenges include a continuing state of...

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$7.6M IN RENT ARREARS PILE UP ON LONDON TENANTS AS WORKING POOR STRUGGLE

Posted in CMHC, Coronavirus, Industry Trends, Newsworthy, Rental Rates, Vacancy Rates

$7.6M IN RENT ARREARS PILE UP ON LONDON TENANTS AS WORKING POOR STRUGGLE

With $7.6 million in unpaid rent and thousands of units in arrears last year, the London area nearly topped a list of Ontario communities where people fell behind, second only to Toronto. Rental arrears were part of the Canada Mortgage and Housing Corp.’s annual rental report for the first time, and London clocked in with 8,130 units where tenants had fallen behind on rent. That’s about 16 per cent of all units in the London census metropolitan area (CMA), which covers London, St. Thomas,...

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LANDLORD FRUSTRATED WITH SLOW PACE OF LTB DURING COVID

Posted in Coronavirus, Evictions, Industry Trends, Landlord and Tenant Board, Newsworthy, Tenancy Law

LANDLORD FRUSTRATED WITH SLOW PACE OF LTB DURING COVID

A Hamilton landlord who has 20 homes in his portfolio says about 25% of his tenants have “taken advantage” of the COVID situation in the past year by collecting the Canadian Emergency Response benefit (CERB) and not using it to pay rent. David, who preferred that his last name not be used, said those who fail to pay know they can’t be evicted for non-payment of rent both because of edicts from the province and the painfully slow pace of hearings before the Landlord and Tenant Board (LTB). The...

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FORD GOVERNMENT VOTES AGAINST YEAR-LONG BAN ON RESIDENTIAL EVICTIONS

Posted in Bylaws / Regulations, Coronavirus, Evictions, Housing, Industry Trends, Landlord and Tenant Board, Newsworthy

FORD GOVERNMENT VOTES AGAINST YEAR-LONG BAN ON RESIDENTIAL EVICTIONS

The Ford government has voted against an NDP bill that would have extended the temporary ban on evictions until one year after the pandemic is declared over by the chief medical officer of health. The province moved to temporarily ban evictions while the stay-at-home order came into effect on Jan. 14. As some regions moved out of the emergency order on Tuesday, and Toronto, Peel  and York Regions are expected to move out on Feb. 22, critics argue that thousands of people could potentially be...

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TRREB PREDICTS SURGING GTA REAL ESTATE MARKET FOR 2021

Posted in Broker Listings, Broker Listings GTA, Broker Sales, Broker Sales GTA, Coronavirus, Industry Trends, Newsworthy

TRREB PREDICTS SURGING GTA REAL ESTATE MARKET FOR 2021

The Toronto Regional Real Estate Board (TRREB) released its annual Market Year in Review & Outlook Report for 2021, projecting optimism for a booming Greater Toronto Area (GTA) real estate market in 2021. The report forecasts near-record sales numbers of 100,000 units, with average selling prices expected to break records and exceed the $1 million mark. 2020 market activity was negatively affected by the onset of the global COVID-19 pandemic, though booming late-year demand turned the...

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APARTMENT RESIDENT RETENTION GETS MESSY

Posted in Coronavirus, Housing, Industry Trends, Maintenance, Newsworthy

APARTMENT RESIDENT RETENTION GETS MESSY

After a decade when apartment resident retention gradually got better and better, it’s now harder for property owners and operators to hold onto renters in some metros and some apartment product segments. Influencing that shift, the world has simply changed over the past year. Many households have experienced income disruptions, and sometimes challenges in employment have led to shifts in household composition. Even if there are no significant changes in household finances, more people working...

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OVER 100,000 CANADIAN RENTERS AT HIGH RISK OF DEFAULT: IS A HOUSING CORRECTION COMING?

Posted in CMHC, Coronavirus, Finance, Industry Trends, Newsworthy, Rental Rates, Vacancy Rates

OVER 100,000 CANADIAN RENTERS AT HIGH RISK OF DEFAULT: IS A HOUSING CORRECTION COMING?

The data released by the Canada Mortgage and Housing Corporation (CMHC) regarding rent in arrears at purpose-built rentals in 2020 doesn’t look good. In October 2020, 125,200 Canadians were behind on rent. The figure represents nearly 6.11% of private rental stock, while the total past-due rent is around $156.79 million. This new development might impact the Canadian real estate market, which has defied gravity, despite the national lockdowns and the global pandemic. Will growth return to more...

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