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Legislation

MPAC Multi-Residential Property Assessment Information Sessions

Posted in Association News, Bylaws / Regulations, CMHC, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy

MPAC Multi-Residential Property Assessment Information Sessions

Date and Time: Jan 16, 2017 8:30am to Jan 26, 2017 2:30pm Location: Various Locations (see below)       Recently, MPAC made changes to modernize multi-residential property assessments. While FRPO advocated for and supports these changes, we all recognize the assessment system can be challenging to navigate. To help understand the changes, the data inputs used and the opportunities available to you to minimize your costs and resources, FRPO and MPAC are hosting seven multi-residential property...

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Canada could be headed towards decades of deficits: Finance Department

Posted in Employment, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy

Canada could be headed towards decades of deficits: Finance Department

Jan 5, The Canadian Press   Finance Minister Bill Morneau   OTTAWA — Federal numbers released quietly by the government late last month are painting a bleak picture of Canada’s financial future — one filled with decades of deficits.   The report, published on the Finance Department website two days before Christmas, predicts that barring any policy changes the federal government could be on track to run annual shortfalls until at least 2050-51.   The document says that if...

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Serendipitous Jobs, Trade Data Help Canada Shake Off Doldrums

Posted in Employment, Finance, Housing, Legal, Legislation, Media Releases, Newsworthy

Serendipitous Jobs, Trade Data Help Canada Shake Off Doldrums

by Greg Quinn, @quinngreg More , January‎ ‎6‎, ‎2017‎ ‎12‎:‎51‎ ‎PM Canada is turning the page on the oil crash. From trade numbers to jobs to the stock market, evidence is beginning to mount the commodity producing nation is emerging from a lingering slump, after struggling through a cocktail of hurt that included collapsing oil prices, slow global growth and an aging population. Data released Friday showed the country recorded its best half-year of job gains since 2007. The merchandise trade...

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Four reasons home prices keep soaring in Vancouver and Toronto

Posted in Appraisal, Association News, Broker Sales, Bylaws / Regulations, CMHC, Housing, Industry Trends, Legal, Legislation, Media Releases, Newsworthy, Tax Law

Four reasons home prices keep soaring in Vancouver and Toronto

There are four key reasons housing prices have soared in Vancouver and Toronto over the last two decades, according to a report released by RBC on Friday. And foreign investment is not one of them.   The report estimated that since 1999, home prices in Toronto have increased 162 per cent in Vancouver and 140 per cent in Toronto. There have been many theories as to why this has happened, but according to RBC, there isn’t one singular factor to blame. Here’s a breakdown quantifying the main...

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A look at key Canadian housing measures unveiled in 2016

Posted in Association News, Broker Listings, Broker Listings Atlantic, Broker Listings GTA, Broker Listings Ontario, Broker Listings Quebec, Broker Listings West, Broker Sales, Broker Sales Atlantic, Broker Sales GTA, Broker Sales Ontario, Broker Sales Quebec, Broker Sales West, CMHC, Development, Housing, Industry Trends, Legal, Legislation, Media Releases, Newsworthy, Real Estate Law, Tax Law

A look at key Canadian housing measures unveiled in 2016

It has been a busy year for government intervention into the Canadian real estate market, and not just the hottest Toronto and Vancouver regions as many of the policy changes impact homebuyers across Canada. Below, BNN looks back at the highlights of 2016 Canadian housing policy.   Feb. 15 – Down payment hike – Announced in December of 2015, Ottawa raised the minimum down payment requirement for homebuyers to 5 per cent of the purchase price up to $500,000 and 10 per cent of any amount...

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Trudeau secures national climate plan despite opposition from Saskatchewan, Manitoba

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

Trudeau secures national climate plan despite opposition from Saskatchewan, Manitoba

Story by: The Canadian Press Prime Minister Justin Trudeau is claiming victory in his campaign to craft a national “framework” agreement on climate change — even though Saskatchewan and Manitoba remains provincial holdouts. Saskatchewan Premier Brad Wall’s full-throated opposition to the plan, which includes imposing a price on carbon, was fully expected going into today’s day-long first ministers meeting. But surprise resistance from British Columbia’s Christy...

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Inclusionary Zoning Legislation Passes Into Law

Posted in Association News, Bylaws / Regulations, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy, Real Estate Law

Inclusionary Zoning Legislation Passes Into Law

The Ontario legislature has passed Bill 7 into law, the Promoting Affordability Act, which includes the enabling provisions to give municipalities the option of requiring affordable housing units as part of new residential developments. While this new legislation does not require Ontario municipalities to require developers to offer rental units, condos, or houses at less than market level, it is expected that some municipalities such as Toronto would give serious consideration to making use...

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Regulatory By-Law for Apartments recommended by Licensing Committee

Posted in Association News, Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy

Regulatory By-Law for Apartments recommended by Licensing Committee

Story by: GTAA On Wednesday, November 30, 2016 Toronto’s Licensing & Standards Committee approved the staff recommendation to create a new regulatory by-law for rental apartment buildings that requires property owners to: register the building with the City of Toronto and submit required information; have a process for receiving, tracking and responding to tenant repair requests; notify tenants of service disruptions, property standards appeals, work orders and cleaning plan, install...

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Ontario court clears way for mortgagees to set aside sham tenancies

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

Ontario court clears way for mortgagees to set aside sham tenancies

Story by: Matt Maurer The Ontario Court of Appeal has ruled that a provision of the Mortgages Act, which allows lenders to set aside tenancy agreements for the purpose of taking possession of real property, does not conflict with the Residential Tenancies Act, 2006 (RTA) and can be used by lenders to set aside “sweetheart” tenancy agreements that are designed to discourage the lender from taking possession or adversely affecting the value of the lender’s interest in the property. In the case,...

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Ontario allows victims of sexual or domestic violence to end tenancy early

Posted in Bylaws / Regulations, Communications, Health & Safety, Housing, Industry Trends, Legal, Legislation, Newsworthy, Professional Services, Real Estate Law, Tenancy Law

Ontario allows victims of sexual or domestic violence to end tenancy early

Story by: Martin Rumack Effective Sept. 6, the Ontario government implemented changes to the Residential Tenancies Act 2006, which impacts both landlords and tenants in an important – and perhaps surprising – way. What has changed? The Sexual Violence and Harassment Action Plan Act, 2016, amends the legislation to benefit tenants who are victims of sexual or domestic violence, by allowing them to abridge the normal rules around giving notice to end a lease, as a means of facilitating their...

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