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

Rental Rates

A NEW STUDY REVEALS THAT THE NUMBER OF VACANT MONTREAL APARTMENTS HAS ‘EXPLODED’

Posted in Coronavirus, Industry Trends, Newsworthy, Rental Rates, Vacancy Rates

A NEW STUDY REVEALS THAT THE NUMBER OF VACANT MONTREAL APARTMENTS HAS ‘EXPLODED’

A new study conducted by the Quebec Landlords Corporation (CORPIQ) reveals that Montreal’s apartment rental vacancy rate “exploded” during the pandemic. According to the CORPIQ, a high vacancy rate ought to be good news for renters looking for a new place to live. Landlords, however, might experience some difficulties re-renting their apartments during the pandemic, the Corporation says. “The pandemic and the economic crisis it is causing are particularly affecting the...

read more

INTERRENT ANNOUNCES $292.5 MILLION PORTFOLIO ACQUISITION IN METRO VANCOUVER WITH CRESTPOINT

Posted in Industry Trends, Media Releases, Newsworthy, Rental Rates, Vacancy Rates

INTERRENT ANNOUNCES $292.5 MILLION PORTFOLIO ACQUISITION IN METRO VANCOUVER WITH CRESTPOINT

InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent” or the “REIT”) announced today that, together with Crestpoint Real Estate Investments Ltd. (“Crestpoint”), it has entered into agreements to acquire 15 properties in Metro Vancouver (the “Acquisition Portfolio”) for a combined purchase price of $292.5 million. Under the arrangements, InterRent and Crestpoint will each own a 50% interest in the Acquisition Portfolio. InterRent will property manage the Acquisition Portfolio and...

read more

RENTS FORECAST TO INCREASE IN CANADA BY 3% IN 2021

Posted in Industry Trends, Newsworthy, Rental Rates, Vacancy Rates

RENTS FORECAST TO INCREASE IN CANADA BY 3% IN 2021

Bullpen Research & Consulting and Rentals.ca is forecasting rents will increase 3 per cent annually in Canada in 2021. Rents will continue trending downward in the first half of 2021 but start a slow recovery in the second half of 2021. Forecasts for average monthly rent for five Canadian cities from December 2020 to December 2021 include Toronto, up 4 per cent; Montreal, up 6 per cent; Vancouver, up 3 per cent; Calgary, flat in 2021; and Mississauga, up 2 per cent. Here’s how average...

read more

PANDEMIC CREATING A ‘NIGHTMARE’ FOR LOCAL LANDLORDS AND TENANTS

Posted in Coronavirus, Housing, Industry Trends, Legal, Newsworthy, Rental Rates, Tenancy Law, Vacancy Rates

PANDEMIC CREATING A ‘NIGHTMARE’ FOR LOCAL LANDLORDS AND TENANTS

Pandemic-related delays in landlord-tenant hearings are complicating an already stressed housing market, say those who have been waiting months for hearing dates. Ontario’s introduction of another shutdown over concerns related to the spread of COVID-19 is pushing those fears into overdrive. While many tenants have been waiting to get hearing dates before the Landlord and Tenant Board to resolve their housing issues, landlords have also started speaking out about not being able to pay their...

read more

STRESSED SMALL LANDLORDS BAILING OUT OF VANCOUVER

Posted in Coronavirus, Industry Trends, Newsworthy, Rental Rates, Vacancy Rates

STRESSED SMALL LANDLORDS BAILING OUT OF VANCOUVER

The Vancouver-based CEO of the Landlord Credit Bureau says hundreds of small landlords, such as homeowners renting a basement suite, are bailing out of Vancouver’s rental market due to a provincially-mandated rental freeze and difficulties in evicting scofflaw tenants. Larger landlords, meanwhile, are facing a “trifecta” of challenges that are driving rents down and persuading many landlords to offer incentives for the first time in years, he said. “B.C.’s rental regulation is having an...

read more

COVID-19 HAS MADE READING NEXT YEAR’S REAL ESTATE MARKET HARDER THAN EVER

Posted in Broker Sales, Coronavirus, Industry Trends, Newsworthy, Rental Rates

COVID-19 HAS MADE READING NEXT YEAR’S REAL ESTATE MARKET HARDER THAN EVER

Canadians are about to get an update on the state of the housing market and the latest resurgence of COVID-19 has only added another layer of confusion to a year of uncertainty over where real estate prices will go in 2021. On Tuesday, the Canadian Real Estate Association is expected to roll out its latest sales figures and prices for resale homes, and while most property watchers see a continuing short-term trend of weakening high-rise condo prices and increasing low-rise prices, the longer...

read more

RHBTV SEASON 2 EPISODE 16

Posted in Association News, CMHC, Coronavirus, Finance, Industry Trends, Newsworthy, Rent Control, Rental Rates, Vacancy Rates

RHBTV SEASON 2 EPISODE 16

We sit down with Rena Malkah, President of CYR Funding who details changes to CMHC’s mortgage insurance along with available private financing options. Kevin Russell, Executive Director – IPOANS, who answers questions about rent control and updates us on the Halifax market. Lastly, an Angus Reid Survey on Isolation, Loneliness and Covid-19 – how the Pandemic leads to sharp increases in mental health challenges and social woes. WATCH...

read more

RENTS ARE WAY DOWN IN TORONTO COMPARED WITH ELSEWHERE IN THE GTA

Posted in Coronavirus, Industry Trends, Newsworthy, Rental Rates

RENTS ARE WAY DOWN IN TORONTO COMPARED WITH ELSEWHERE IN THE GTA

The health crisis, its consequent economic fallout, and new regulations for Airbnbs in Toronto have had a silver lining for tenants who were suffering under the city’s exorbitant rent prices and overall high cost of living, with rents continuing to fall month-over-month and hovering drastically below what they were at the same time last year. Last month, the average rent for all residential property types in Toronto proper hit $2,150 — an astounding 17.1 per cent drop from Oct. 2019 —...

read more

NOVA SCOTIA CAPS RENT INCREASES AT 2% AND BANS ‘RENOVICTIONS’ DURING PANDEMIC

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

NOVA SCOTIA CAPS RENT INCREASES AT 2% AND BANS ‘RENOVICTIONS’ DURING PANDEMIC

In the face of what advocates say is a growing housing crisis that includes ballooning rent costs forcing people out of their homes, the Nova Scotia government is stepping in with a cap on increases and a ban on so-called renovictions. “Too many Nova Scotians are struggling to afford a place they call home,” Housing Minister Chuck Porter said Wednesday. “Now is not the time for people to be worrying about keeping a roof over their heads or being forced to find a new home for...

read more

RENT CONTROL IS NOT THE ANSWER

Posted in Newsworthy, Rent Control, Rental Rates

RENT CONTROL IS NOT THE ANSWER

Halifax is booming, which is a blessing and a curse. Even before the pandemic, population growth was straining the housing supply. I’ve lost count of the number of times I’ve heard “vacancy rates on the peninsula are less than one per cent.” Understandably, many Halifax residents are concerned and feeling the stress of high and increasing rents. Calls for rent control are getting louder and gaining traction. Last week, two Liberal Party leadership candidates in Nova Scotia, Labi Kousoulis and...

read more