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Legislation

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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Canada Sold $1.2 Billion Of Weed To The World Last Year, StatCan Says

Posted in Bylaws / Regulations, Communications, Finance, Health & Safety, Industry Trends, Legal, Legislation, Newsworthy

Canada Sold $1.2 Billion Of Weed To The World Last Year, StatCan Says

The domestic pot industry is as large as tobacco, beer and wine combined. A new, provisional estimate by Statistics Canada suggests $1.2 billion worth of cannabis produced in Canada last year was illegally sold outside the country. The federal agency is releasing fresh cannabis-related figures as it tries to assess the magnitude of the black market in preparation for Ottawa’s expected plan to legalize recreational weed later this year. The report says about 20 per cent of the pot...

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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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4 issues (other than NAFTA) Canadians should watch in Trump’s second year

Posted in Bylaws / Regulations, Communications, Development, Employment, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy, Tax Law

4 issues (other than NAFTA) Canadians should watch in Trump’s second year

U.S. President Donald Trump’s first year in office consisted of many surprises, Twitter rants, executive orders –  and uncertainties that still linger heading into year two. Trade was a big focal point as tensions between NAFTA partners continued to mount. In the Bank of Canada’s latest rate decision, Governor Stephen Poloz pointed to uncertainty surrounding the trade deal as “the big cloud” hanging over its economic forecast. While NAFTA may be Canada’s biggest concern involving the U.S....

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Canada Increasingly Convinced Trump Is Ready To Pull Out Of NAFTA: Report

Posted in Bylaws / Regulations, Communications, Finance, Industry Trends, Legislation, Newsworthy, Utility Management

Canada Increasingly Convinced Trump Is Ready To Pull Out Of NAFTA: Report

Negotiators are meeting for more talks in late January. LONDON, Ontario (Reuters) – Canada is increasingly convinced that U.S. President Donald Trump will soon announce that the United States intends to pull out of the North American Free Trade Agreement, two government sources said on Wednesday. The sources said they expected Trump would make his move at about the same time that negotiators from the United States, Canada and Mexico meet in late January for the sixth and penultimate...

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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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Trump’s trickle-down tax plan: What it means to the rich, the poor, and Canada

Posted in Bylaws / Regulations, Communications, Development, Employment, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy

Trump’s trickle-down tax plan: What it means to the rich, the poor, and Canada

WASHINGTON — Donald Trump promised to govern for America’s forgotten men and women; yet he promoted a tax reform plan on Wednesday that independent analysts say does the exact opposite, transferring tens of billions of dollars in wealth up the income ladder. The president claimed at a rally in Missouri that the tax plan would be great for the little guy, while clobbering rich guys like him: “It’s gonna cost me a fortune, this thing. Believe me, believe me, this is not...

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