Canada’s one stop platform and the #1 National voice to the rental housing industry

Payments Processing

PROPERTIES, PROPERTY MANAGERS MUST ADAPT TO RENTER NEEDS, CHANGES

Posted in Industry Trends, Interior Building, Newsworthy, Payments Processing, Technology

PROPERTIES, PROPERTY MANAGERS MUST ADAPT TO RENTER NEEDS, CHANGES

Renters are changing, and the properties and property managers of the future are going to have to be increasingly flexible to adapt to evolving renter needs, says Buildium in its 2020 Renters’ Report. Property managers are already starting to see the trends: They must adapt to more roommates, different household types, pets, and other changes that focus on renter needs. Also, higher-income renters who are professionals have become more common, along with seniors. Less about granite...

read more

AS MOVING DAY LOOMS, MONTREAL TENANTS AND LANDLORDS HEAD TOWARDS EVICTION SHOWDOWN

Posted in Coronavirus, Finance, Housing, Industry Trends, Newsworthy, Payments Processing, Rental Rates, Vacancy Rates

AS MOVING DAY LOOMS, MONTREAL TENANTS AND LANDLORDS HEAD TOWARDS EVICTION SHOWDOWN

Unpaid rent can cause friction even at the best of times. Now picture a lease going unpaid in a city that happens to be mid-housing boom, with home prices skyrocketing and near-zero vacancy rates—where many landlords are eager to end leases and raise the rent, and tenants are equally desperate to hold onto them. Then picture that happening while evictions are banned. And it’s not one rent unpaid, but roughly one in seven across the city. Montreal’s traditional citywide Moving Day this year, on...

read more

HOW MOM-AND-POP LANDLORDS ARE COPING WITH THE PANDEMIC

Posted in Coronavirus, Employment, Finance, Housing, Industry Trends, Payments Processing, Professional Services, Rental Rates

HOW MOM-AND-POP LANDLORDS ARE COPING WITH THE PANDEMIC

Thousands of tenants across the city weren’t able to pay their rent this month due to layoffs and lost work. Some mom-and-pop landlords are sympathetic: they, too are facing reduced incomes. In many cases, they can’t pay their own bills and are confronting the possibility of losing their properties. We spoke to a few about how they’re adapting to the new reality. Jeanne-Marie Robillard, 58, communications director “I’ve been a landlord for 27 years. I own a triplex with my husband, Mark...

read more

85 PER CENT OF CANADIAN TENANTS PAID APRIL RENT

Posted in Coronavirus, Finance, Housing, Industry Trends, Newsworthy, Payments Processing

85 PER CENT OF CANADIAN TENANTS PAID APRIL RENT

Approximately 85 per cent of tenants in Canada paid rent in part or full despite calls for an April rent strike during the coronavirus pandemic, says CIBC’s deputy chief economist Benjamin Tal. Those figures are in line with a similar report from rental brokerage firm SVN Rock Advisors, Inc, which found about 90 per cent of tenants paid rent in Toronto and Vancouver, while 70 per cent paid in Alberta  – where the economy was already struggling due to low oil prices – and Quebec. “Close to 75...

read more

5 Top Technologies That Renters Want

Posted in Communications, Finance, Housing, Industry Trends, Newsworthy, Payments Processing, Technology

5 Top Technologies That Renters Want

A new survey shows the 5 top technologies that renters want and that, over the last year, residents’ interest in rental technologies has grown by an average of 7 points. The 2020 State of the Property Management Industry Report by Buildium and the National Association of Residential Property Managers (NARPM), surveyed both property managers and renters. In the annual survey of 1,188 renters across the county, Buildium and NARPM found the biggest gains in interest among renters were in applying...

read more

Changes to LTB Rules, Guidelines and Forms

Posted in Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy, Payments Processing, Professional Services, Real Estate Law, Tenancy Law

Changes to LTB Rules, Guidelines and Forms

The Landlord and Tenant Board (LTB) has provided a few Holiday goodies and “lumps of coal” just in time for the Holidays! As this is an electronic Bulletin you have access to the documents by clicking on the underlined links. We have bolded some significant changes below. There are important changes to the Rules of Procedure, forms, and two Interpretation Guidelines: Guideline 6: Tenant Rights and Guideline 12: Eviction for Personal Use, Demolition, Repairs and Conversion. Here are...

read more

RentMoola and BMO announce next generation PAD solution.

Posted in Communications, Finance, Housing, Industry Trends, Maintenance, New Products, Newsworthy, Payments Processing, Professional Services, Technology

RentMoola and BMO announce next generation PAD solution.

RentMoola has launched its next generation pre-authorized debit payments (PAD) solution designed specifically for the property management industry. In partnership with BMO Financial Group (BMO), RM PAD+ digitizes the pre-authorized debit enrolment for monthly rent payments. The paperless solution eliminates the need for forms and void cheques. It works with any Canadian banking partner and allows the tenant to pay with any payment method, from anywhere. RM PAD+ combines RentMoola’s...

read more

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...

read more

First National’s mortgage investment fund to end by December

Posted in Communications, Finance, Newsworthy, Payments Processing, Professional Services

First National’s mortgage investment fund to end by December

First National Financial announced Wednesday its mortgage investment fund will be terminated by next month. Unitholders are not required to take any action, according to the fund’s manager, Stone Asset Management. Instead, the fund will pay them a special distribution before termination. The payout will be based on the amount necessary to eliminate the fund’s liability for non-refundable income tax under the Income Tax Act. The move comes as the favourable tax treatment for the forward...

read more

Dream of that single-family home in the suburbs fading fast as highrises move in

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Payments Processing

Dream of that single-family home in the suburbs fading fast as highrises move in

Story by: Garry Marr | Financial Post Hamilton builder Jeff Paikin has been in the real estate industry for almost three decades, but his days of building single-family homes may be over. He’s all but given up on detached homes and now focuses on more budget-sensitive condominiums and townhomes in what are ostensibly the suburbs of Hamilton. His latest project in Stoney Creek is the largest single-phase condominium in that city’s history at 470 units. “Hamilton didn’t even have a condo market...

read more