- 3 Bedrooms
- 2 Bathrooms
- 1 Parking Space
Prior to April 2017, rent control only existed for buildings built before 1991. Most of the new condos being built were not under rent control. According to Urbanation, a third of condo rental stock comes from individual investors, domestic & foreign, who have purchased condos and have rented them out. 27,219 units were leased on MLS in 2017. 50% of the new condo buildings are used as rentals. Prior to April 2017, Landlords were given free rein to increase rents on an annual basis.
Here’s the new residential tenancy agreement that comes into effect later this year.
Last week, Canada’s Competition Bureau came out with a ruling against the Toronto Real Estate Board; TREB. It meant that TREB is supposed to allow its members to release sold data and other information about listings online. TREB is unhappy with this ruling and wants the right to appeal this decision yet again. Continue Reading
Year after year, I hear many people tell me that their plan is to save a little bit more in order to afford that bigger, better condo or house the following year. Continue Reading
Last week, I had the opportunity to attend the Toronto Real Estate Board’s Annual General Meeting. Benjamin Tal, the chief economist for CIBC, was the guest speaker. I heard him speak before and have always been impressed with what he had to say. This time was no different and he didn’t disappoint. He blew my mind with his facts, figures and insights and I literally tried to take as many notes as my hand would allow. In fact, by the time he finished speaking, my hands hurt. Continue Reading
The new mortgage rules and stress test come into effect soon. How can it be beneficial to help someone find a mortgage to invest in property?