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Newsworthy

HOMELESS WINNIPEGGERS OPTIMISTIC ABOUT RAPID AFFORDABLE HOUSING PLAN

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

HOMELESS WINNIPEGGERS OPTIMISTIC ABOUT RAPID AFFORDABLE HOUSING PLAN

Some members of Winnipeg’s homeless community are cautiously optimistic about a federal plan to spend $1 billion over the next six months to create new affordable housing units across the country. The Liberal government is making the cash available to municipalities, provinces and non-profit organizations for the purchase of land and property that have become vacant during the COVID-19 pandemic. The funding can also be used to cover the construction of modular housing. The program is...

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WALL STREET’S NEW SUBURBAN SUBDIVISION IS FULL OF RENTERS

Posted in Affordable Housing, Coronavirus, Housing, Industry Trends, Newsworthy, Rental Rates

WALL STREET’S NEW SUBURBAN SUBDIVISION IS FULL OF RENTERS

Wall Street won big buying up homes during the foreclosure crisis and renting them out. Now, it’s headed back to the suburbs in hopes of scoring again. With the pandemic driving demand for larger living spaces, institutional investors are pouring money into single-family rentals. In addition to buying houses on the open market, they’re bankrolling subdivisions — inventing a new kind of suburban living that’s easier to afford, but where the financial benefits of homeownership go to Wall...

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PEEL LOAN PROGRAM FOR SECOND UNIT AND BASEMENT RENOVATIONS LOOKS TO CREATE AFFORDABLE HOUSING

Posted in Affordable Housing, Development, Finance, Housing, Industry Trends, Newsworthy, Rental Rates, Suite Renovations

PEEL LOAN PROGRAM FOR SECOND UNIT AND BASEMENT RENOVATIONS LOOKS TO CREATE AFFORDABLE HOUSING

The Region of Peel announced it will be launching their ‘My Home Second Unit’ renovation pilot program in October 2020 to help residents repair their existing “illegal” or unregistered basements and second units. The program approved in February 2020 following a motion moved by Regional Councillor Gurpreet Singh Dhillon, was delayed due to the Covid-19 pandemic. The program will allow eligible homeowners to secure a 10-year interest-free loan to upgrade and renovate their existing unregistered...

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RENTAL HOUSING AND EVICTIONS

Posted in Affordable Housing, CMHC, Housing, Industry Trends, Newsworthy, Rental Rates, Vacancy Rates

RENTAL HOUSING AND EVICTIONS

The Globe and Mail, in partnership with Canada Mortgage and Housing Corporation (CMHC) hosted a virtual event on September 16 to discuss the path forward for Canada’s rental housing market. Here are some of the highlights from the discussion: Rentals are key to affordable housing CMHC has set a goal to provide all Canadians with housing they can afford by 2030, said Romy Bowers, senior vice-president of client solutions with CMHC. In cities such as Toronto and Vancouver home ownership is less...

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TIPS ON MAINTAINING YOUR BUILDING’S LAUNDRY ROOM

Posted in Coronavirus, Laundry, Maintenance, Newsworthy, Security

TIPS ON MAINTAINING YOUR BUILDING’S LAUNDRY ROOM

A clean, well-lit laundry room is a valuable amenity for your apartment building. Not only does an inviting laundry area make a positive first impression on potential renters, it gives current residents a sense of security when laundry day arrives. Here are a few ideas to help you make your apartment building the rental of choice with a welcoming, community-focused laundry room. Communicate COVID-19 guidelines During these times, most residents are likely concerned for their health. Keep a...

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TORONTO TENANTS RENT INCREASES AFTER $100 GIFT CARDS HANDED OUT FOR LOCKDOWN HARDSHIPS

Posted in Coronavirus, Newsworthy, Rent Control, Rental Rates

TORONTO TENANTS RENT INCREASES AFTER $100 GIFT CARDS HANDED OUT FOR LOCKDOWN HARDSHIPS

Early in the COVID-19 lockdown, a Toronto apartment rental company was praised for offering $100 grocery gift cards to tenants and donating funds to local charities. In addition to the generous donations, Greenrock Real Estate Advisors also offered flexible rent payments when many laid-off residents worried about making April 1 rent payments. So it came as a surprise when some Greenrock tenants in 40 and 50 Alexander Street and 55 Maitland Street learned they owed a lump sum of more than...

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HAS COVID REALLY RESULTED IN TORONTO RESIDENTS FLEEING TO THE SUBURBS?

Posted in Coronavirus, Housing, Industry Trends, Newsworthy

HAS COVID REALLY RESULTED IN TORONTO RESIDENTS FLEEING TO THE SUBURBS?

Fed up with crowds, fearful of elevators and sick of inadequate space for a home office … is the COVID-19 pandemic pushing urbanites to ditch the city for a house in the ‘burbs, or even as far away as cottage country? The latest figures from the Toronto Regional Real Estate Board (TRREB) numbers seem to back up the trend, with overall sales growth in the 905 area (near Toronto) higher than in the city’s 416 centre. But the reality is more complicated, experts say. That’s because moving to the...

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COVID-19 IS EXPOSING FUNDAMENTAL FLAWS IN THE CANADIAN HOUSING MARKET

Posted in Affordable Housing, Coronavirus, Finance, Housing, Industry Trends, Newsworthy

COVID-19 IS EXPOSING FUNDAMENTAL FLAWS IN THE CANADIAN HOUSING MARKET

Provincial eviction bans across Canada have begun to end. The bans were initially adopted as a response to the economic shut-down induced by COVID-19. These bans, along with income support from the Canadian Emergency Response Benefit (CERB), have maintained the integrity of the housing market during the pandemic. But with COVID-19 still in full swing and eviction bans being lifted, it could spell bad news for low-income renters and potentially the Canadian economy. While the U.S. was plunged...

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MAJOR ZONING MOVE COULD BRING MORE MULTI-UNIT LOWRISES TO OTTAWA’S CORE

Posted in Bylaws / Regulations, Development, Industry Trends, Newsworthy

MAJOR ZONING MOVE COULD BRING MORE MULTI-UNIT LOWRISES TO OTTAWA’S CORE

Older neighbourhoods in Ottawa could soon see more lowrise apartment buildings popping up between houses as the city updates its zoning rules in an attempt to encourage more rental units. The changes to what are known as R4 zones are four years in the making, and stem from the city’s earlier issues with illegal rooming houses in neighbourhoods such as Sandy Hill and Old Ottawa South. City staff closed a loophole allowing the rooming houses a few years ago, but also saw them as a symptom...

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RENTAL SECTOR NAVIGATES PERILOUS TIMES

Posted in Coronavirus, Housing, Industry Trends, Newsworthy, Rent Control, Rental Rates, Vacancy Rates

RENTAL SECTOR NAVIGATES PERILOUS TIMES

It’s been a year fraught with uncertainty and challenges for landlords and tenants, and it’s far from over. The data has yet to come in on the exact vacancy rates, or the number of tenants who haven’t been able to pay rent since the pandemic began. And the landscape changes yet again as government lifts a ban on evictions and rent increases. As of Sept. 1, landlords were able to evict tenants for failure to pay rent. And on Dec. 1, the freeze on rent increases will be lifted, which means many...

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