Toronto mayor John Tory is looking to combat the housing shortage in Toronto. His three-point plan is being implemented to try and create 40,000 new social housing units over the next twelve years. The plan unveiled is as follows: First, the city has identified 10 more sites where it owns land that can be redeveloped…
In This Issue: Changes Coming to The Ontario Real Estate Act & April 2019 Sales See Significant Upswing
CEO of the Ontario Real Estate Association, Tim Hudak, introduces a new program to modernize the current real estate act. (REBBA)
In This Issue: Paul’s Ten Tips for Buying an Income Property in Toronto
During 20+ years in Real Estate Paul has worked with hundreds of clients to buy, sell and lease duplexes, triplexes and multiplexes all across town. Here are his top tips for buying an income property.
In This Issue: Should all prices be disclosed in a real estate bidding war? & 2019 Ontario Rental Increase Guideline
The Ontario government recently announced that the allowable increase that landlords can charge their tenants this year is 1.8% of the base rent. Some years have seen larger increases, and some smaller, but this figure seems to be right in line with increases that we have seen over the past few years. Rental increases are…
The Toronto real estate market has been plagued with a lack of supply for some time now. This had led to a sellers’ market where there is often more than one bid on a property that is listed for sale. Multiple offers are commonplace and are often expected by sellers on many downtown properties.
Spacious Open-Concept Wychwood Gem with Income Potential Large, recently renovated one bedroom basement apartment will provide plenty of off-setting income Many recent upgrades include: Exposed brick with high ceilings and built-in surround sound. Modern kitchens and bathrooms. Cedar deck with pot lights at front. Front roof and skylights new in 2019. Recently waterproofed. Large Storage…
In This Issue: How to Get as Much Rent as Possible for your Suite & TREB Market Statistics for January 2019
The Toronto Real Estate Board (TREB) has just released the overall sales numbers for January 2019. There were 4,009 sales in January 2019, up 0.6% compared to January 2018.On a seasonally adjusted basis, sales were up 3.4% compared to December 2018. There was a total of 9,456 homes listed in January 2019, up 10.5% per cent year-over-year. The average selling price was $748,328. On a…
When your tenants vacate your rental suite that is the ideal time to make changes and improvements so that you could potentially charge more rent to the new tenants. You are allowed to charge whatever the market will bear so you should do everything possible to maximize this income. These maintenance and renovation tips will…