RENTAL MARKET SPURRING MONTREAL HOUSING CONSTRUCTION
The Montreal housing market has seen a sharp increase in rental construction versus single-family homes, driven by simple economics. According to CMHC market analyst Francis Cortellino, it’s a trend that has been ongoing for 20 years. “Not a lot of land is available, and land is expensive, so there’s not a lot of single-family homes being started,” he said. Add to this factors like tough zoning regulations where municipalities purposely “want to increase density.” There is also less family...
read moreLANDLORD IN THUNDER BAY, ON. WHO SAID HE’S OWED $11K IN RENT CALLS FOR LTB CHANGES
Anshul Jain says he hasn’t received a single payment from two tenants at his rental property in Thunder Bay, Ont., but is most upset about the unpredictability he faces with the Landlord and Tenant Board (LTB). Jain is a physiotherapist at a long-term care home in the northwestern Ontario city. He and his wife purchased a rental property at the end of July 2023 in hopes of earning additional income. They inherited the previous owner’s tenants and he said while there have been no...
read moreELIGIBLE LOW-INCOME RENTERS TO GET ONE-TIME $430 BENEFIT, B.C. GOVERNMENT ANNOUNCES
Low-income B.C. seniors and families already enrolled in one of two rental support programs will soon receive a one-time benefit, the province announced Tuesday. Housing Minister Ravi Kahlon announced the $430 payment will be given to seniors and families who are supported through the Shelter Aid for Elderly Renters, or SAFER, program as well as those getting a subsidy through the Rental Assistance Program. “We know that seniors are facing real challenges,” Kahlon said during a...
read moreTRUDEAU’S OUT-OF-CONTROL IMMIGRATION HURTING JOBS AND HOUSING
Canada’s out-of-control immigration numbers are not only having a negative impact on housing, they are now hurting the employment situation. In the same week that Prime Minister Justin Trudeau said that we are bringing in people faster than we can absorb them in the housing market, Statistics Canada issued a warning on jobs. The March unemployment rate stood at 6.1%, a full point higher than the 5.1% recorded in March of 2023. According to StatsCan, we are bringing in people faster than we are...
read moreLANDLORD GROUP’S PUSH TO KILL WINDSOR’S RENTAL LICENSE PROGRAM DISMISSED
The Windsor city councillor who championed a residential rental licensing pilot program is “delighted” with the city’s win in a court challenge to the program made by a group of landlords. On Monday, Ontario Superior Court Justice Kelly Gorman ruled against Windsor Housing Providers, Inc.’s arguments and dismissed their application. It means the City of Windsor can continue with its Residential Rental Licensing (RRL) program in Ward 1 and Ward 2, which was first...
read moreSOME ONTARIO LANDLORDS ARE CALLING FOR ‘AUTOMATIC’ EVICTIONS FOR TENANTS WHO DON’T PAY RENT
When Zahid Mahmood bought a house in Oshawa, Ont., in 2021, he hoped rental income would help him and his wife save money to pay for post-secondary education for their three children. Walking into the house last month, Mahmood says he was faced with piles of trash, bottles of urine, rodents and dog feces — the mess left behind by former tenants. Mahmood says the tenants moved into the house in May 2022 and stopped paying rent a year later. In August, he and his wife gave the tenants an N4...
read moreFIRST WE TRIED TINY CONDOS, NOW ARE TINY HOUSE RENTALS GOING TO HELP OUR HOUSING CRISIS?
The latest is a report from the Task Force for Housing and Climate, which is made up of politicians, academics and private sector stakeholders, with over 140 policy actions they recommended for federal, provincial and municipal governments. While all of this effort is welcomed given the extent of our housing affordability crisis, it once again shows that good intentions alone are not enough when it comes to housing policy. It takes very little for policies to incentivize the wrong behaviour in...
read moreINFRASTRUCTURE OR NON-PROFIT RENTAL BUILDINGS? HOW SHOULD TORONTO SPEND PROVINCE’S $114 MILLION HOUSING “REWARD”
Following the Ontario government recently “rewarding” the City of Toronto with $114 million for exceeding its Housing Action Plan targets by 51 per cent, conversations surrounding how the money should be spent have begun. Beaches-East York Councillor Brad Bradford believes this newly available funding should go towards city infrastructure. “There are a couple things the province outlined that we could do with the money, but we need to be investing this in the infrastructure to enable growth,”...
read moreWILL RENTAL HOUSING PRICES DROP IN 2024?
An ongoing boom in apartment construction has helped slow down rental inflation — but renters shouldn’t expect prices to drop dramatically from their pandemic-padded highs. That means affordability will remain the dominant narrative in rental housing in 2024. The combination of a pandemic economic rebound, a longtime shortage of rental housing stock and high interest rates on mortgages created a perfect storm for rental prices to spike beginning in 2021 and peaking last spring, inflation data...
read moreHAMMER HEADS AND HAZELVIEW INVESTMENTS FORM INVESTMENTS TRADE APPRENTICE PARTNERSHIP
Hazelview Investments partners with Hammer Heads to formalize Trade Apprenticeship Partnership which will support under-resourced and Indigenous youth with apprenticeship career opportunities in the Greater Toronto Area. Created by the Central Ontario Building Trades (COBT), Hammer Heads is a community-based initiative that offers access to meaningful employment in the skilled trades. “Our 12-week comprehensive skills development program was designed to train and place under-resourced...
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