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Rental Housing Business Newsreel

SUDBURY, ONT. LANDLORD SAYS HE’LL NEVER RENT AGAIN AFTER UNIT DESTROYED

Posted in Legal, Newsworthy, Tenancy Law

SUDBURY, ONT. LANDLORD SAYS HE’LL NEVER RENT AGAIN AFTER UNIT DESTROYED

One chapter is now closing in a Sudbury senior’s nightmare after renting out his property for the last four-plus years while another one has just begun. Merle Smith knew there was going to be damaged to his home when the Landlord and Tenant Board (LTB) had finally granted him entry but he never imagined it could have been this bad. “This has been a total nightmare that I wouldn’t wish on anybody,” said Smith, surveying the damage within the first 24 hours. “When I...

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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...

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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...

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TENANTS CALL ON LANDLORDS AND PROVINCE TO STEP UP, OFFER RENT RELIEF PROGRAMS

Posted in Coronavirus, Industry Trends, Newsworthy

TENANTS CALL ON LANDLORDS AND PROVINCE TO STEP UP, OFFER RENT RELIEF PROGRAMS

A group of disgruntled tenants held a peaceful demonstrations outside the offices of MetCap’s Parkdale office calling for a negotiated resolution that would see neighbours remain in their homes without fear of eviction. “We know there’s going to be more lockdowns, we know more businesses are going to close, people are going to lose their jobs and a lot of people are taking a hit this year financially. I don’t think landlords should be exempt from that,” said Parkdale resident Matt Whittman,...

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ADVOCATES TURN TO COURTS TO STOP EVICTIONS AMID GROWING DISTRUST OF ONTARIO TENANCY TRIBUNAL

Posted in Coronavirus, Industry Trends, Legal, Newsworthy, Tenancy Law

ADVOCATES TURN TO COURTS TO STOP EVICTIONS AMID GROWING DISTRUST OF ONTARIO TENANCY TRIBUNAL

By the time Stephanie Cox turned to a Hamilton divisional court earlier this month to protect her client from imminent eviction, she says she’d tried and failed 28 times to deliver a legal document to Ontario’s Landlord and Tenant Board (LTB). With barely more than a week to appeal the decision and little hope of reaching the board in time, the legal clinic lawyer bypassed the tenancy tribunal’s review process and went to court. Within 36 hours, she’d won a stay,...

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HAPPY HANUKKAH FROM RHB!

Posted in Events, Newsworthy

HAPPY HANUKKAH FROM RHB!

Best wishes for a wonderful holiday season and a new year filled with peace and happiness. Happy Hanukkah!!

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WHAT DOES THE FALL ECONOMIC STATEMENT MEAN FOR RENTAL HOUSING PROVIDERS

Posted in Finance, Housing, Industry Trends, Newsworthy

WHAT DOES THE FALL ECONOMIC STATEMENT MEAN FOR RENTAL HOUSING PROVIDERS

Finance Minister Freeland delivered the Fall Economic Statement on November 30. The main areas on which the Statement affects rental housing providers are the following: Rental Construction Financing Initiative (RCFI) Energy subsidies A small expansion of the First Time Homebuyers incentive No new taxes on rental investments Rental Construction Financing Initiative (RCFI) The government has announced another $12B of loan support for new rental construction under the Rental Construction...

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SKYLINE GROUP OF COMPANIES LAUNCHES MASSIVE COMMUNITY INITIATIVE IN HOMETOWN, BENEFITING 24 LOCAL NON-PROFITS

Posted in Industry Trends, Media Releases, Newsworthy

SKYLINE GROUP OF COMPANIES LAUNCHES MASSIVE COMMUNITY INITIATIVE IN HOMETOWN, BENEFITING 24 LOCAL NON-PROFITS

Real estate management, investment and development firm Skyline Group of Companies has launched a year-long community campaign in its home region of Guelph & Centre Wellington, ON, donating free radio advertising space and airtime on a local radio station to multiple non-profit organizations. Each month, starting November 2020 through to October 2021, Skyline is donating ad space on Centre Wellington radio station The Grand 101.1 FM to two special non-profit organizations for the entire...

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BROKEN SYSTEM AFFECTS LANDLORDS AND TENANTS

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy, Tenancy Law

BROKEN SYSTEM AFFECTS LANDLORDS AND TENANTS

We all know that there is a housing crisis in Peterborough, and that the main issue is that there is not enough housing, plus rents have become unaffordable. There is another factor, however, which almost no one is talking about, which is that the Landlord/Tenant Act which gives a framework of law around landlord/tenant contracts is broken. Landlords and tenants are discovering that the basic contracts we thought we were working within, around payment of rent in return for maintenance of...

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WHY HOUSING AFFORDABILITY WILL CONTINUE TO DECLINE IN CANADA

Posted in Affordable Housing, Coronavirus, Development, Housing, Industry Trends, Newsworthy, Vacancy Rates, Zoning

WHY HOUSING AFFORDABILITY WILL CONTINUE TO DECLINE IN CANADA

In the turmoil of 2020, a crucial issue — housing affordability in cities such as Toronto and Vancouver — has fallen somewhat off the radar. But the fundamental problem remains. Housing supply growth is failing to keep pace with housing demand. This interpretation of the facts shouldn’t be controversial. Yet it is. Why? Because some analysts focus on “supply side” factors such as how much housing is being built while others focus more on demand. Curiously, no matter how much “supply” advocates...

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