ONTARIO GOVERNMENT SETS 2025 RENTAL CAP FOR MOST UNITS
Rent for some homes in Ontario will be capped below the rate of inflation next year, the provincial government announced Friday. The Ministry of Municipal Affairs and Housing released its annual rent increase cap ahead of the long weekend, keeping landlords of some properties to increases of 2.5 per cent or less for 2025. The average rate of inflation, the government said, was 3.1 per cent. The cap, however, only applies to homes that were built and first occupied before Nov. 15, 2018. The...
read moreWEEK OF JUNE 24 2024 NEWSREEL WITH VANESSA TOPPLE
A look at Federal government regulations and policies – how they haven’t moved the needle on housing and a recent article summarizing that the solution is for government to get out of the housing industry completely. ...
read moreFOUR OF CANADA’S RED PARTY LEADERS INVESTED IN REAL ESTATE
Four of the leaders of Canada’s five parties in Parliament are landlords and/or invested in real estate (or have spouses that are), according to new data examined by The Maple. MPs are required to complete public disclosure reports that include property they own and additional sources of income and investments. These reports tell us if our elected representatives, and/or their spouses, are landlords/invested in real estate. The Maple has gone through all this data and identified which...
read moreHAMILTON TO STRENGTHEN TENANT PROTECTIONS BY ADOPTING BYLAW PREVENTING ‘DEMOVICTIONS’
The Ontario city that introduced a first-of-its-kind renoviction bylaw in the province is about to expand the protection and prevent landlords from evicting tenants so they can demolish apartments and turn the properties into condominiums. Hamilton, Ont., is a step away from implementing a Rental Housing Protection By-law that will seek to preserve its supply of existing affordable housing by adding more conditions for landlords and developers seeking to take down midsize apartment buildings...
read moreCHANGES COMING FOR TENANTS PAYING FIXED RENT IN NOVA SCOTIA’S PUBLIC HOUSING UNITS
Nova Scotia is changing the rules for those who pay a fixed amount of rent for public housing, a move the government says is aimed at achieving fairness and consistency. Housing Minister John Lohr made the announcement Thursday, saying that over the next four years, 1,445 public housing tenants — about 13 per cent of the total — will start paying rent based on their household income, which means they could be paying more or less than they are now. Lohr said the other 87 per cent of tenants...
read moreFIXING LANDLORD AND TENANT DISPUTE MECHANISMS COULD HELP ADDRESS HOUSING AFFORDABILITY
Rental housing is scarce in Canada, with demand far exceeding supply. Consequently, rents have skyrocketed over the past few years. The solution, of course, lies in rapidly increasing rental housing, which has proven to be a significant challenge. The rental supply could be boosted immediately if over-housed homeowners made their redundant space available to rent. With aging demographics and many seniors choosing to age in place, tens of thousands of surplus basements and secondary units could...
read moreWEEK OF JUNE 17 2024 NEWSREEL WITH VANESSA TOPPLE
From rent control to renoviction policies – local government are working overtime to implement new policies with little to no regard for unintended consequences and the furthering of the housing crisis. ...
read moreHUNDREDS OF RENTAL UNITS UP FOR DEMOLITION VOTE TUESDAY
About 240 rental units in Toronto could move one step closer to being torn down for new developments Tuesday, causing their tenants to be victims of a demoviction in the process. A demoviction, or demolition driven eviction, is when a landlord evicts tenants from a building so that it can be demolished and redeveloped into new apartments or condos. The applications to demolish and replace the units will be before the Toronto and East York Community Council Tuesday, which will decide whether to...
read moreEVERY NEW HOME BUILT REQUIRES $100,000 IN INFRASTRUCTURE SPENDING: REPORT
As Canada aims to build homes faster, both the public and private sectors will need to boost spending on municipal infrastructure, a new report from the Canadian Urban Institute says. The report, funded by the Canada Infrastructure Bank, estimated the average cost of infrastructure needed to support housing likely exceeds $100,000 for each newly built home. That includes funding for resources such as public transit, roads, water lines, schools, fire halls or recreational facilities. The total...
read moreCANADIAN REAL ESTATE MARKETS WON’T SEE A BIG BOOST FROM RATE CUT
Canadian real estate markets hit pause, with the theory being rate cuts would revive the market. That theory is playing out for sellers, but one of Canada’s banks doesn’t see it driving many new buyers. A new analysis from BMO argues the Bank of Canada (BoC) rate cut may boost sentiment, but won’t provide much affordability relief. In the near-term, they see the market being contained by surging inventory and a lack of affordability. Canadian Real Estate May Get A Sentiment Boost From Cuts,...
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