A home is usually the single largest investment that most people make in their lives. Achieving your dream can be made easier by taking advantage of various Government Programs for home buyers and property owners. Some of the programs are targeted to first-time buyers, while others apply more generally. Other ...
Continue ReadingOn Sunday, February 4, 2024, Finance Minister Chrystia Freeland announced the federal government’s intention to extend the Prohibition on the Purchase of Residential Property by Non-Canadians Act (foreign buyer ban), which was first introduced in 2023, by two years to January 2027. The Canadian Real Estate Association (CREA) believes the federal government’s intention to extend ...
Continue ReadingAll homeowners will need to declare the status of their property as part of an effort to crack down on real estate investors and improve housing Letting a home sit empty in the middle of a housing crisis will now cost you, with the introduction of Toronto’s vacant home tax ...
Continue ReadingDon’t forget, the new residential property flipping rule, introduced in Budget 2022, is now law. This rule was included in Bill C-32, which received Royal Assent on December 15, 2022. The new rule deems profits from a “flipped residential property” as business income to target individuals that misclassify these profits ...
Continue ReadingRules for rent increase In most cases, the rent for a residential unit can be increased 12 months after either: the last rent increase the date the tenancy begins The landlord must give a tenant written notice of a rent increase at least 90 days before it takes effect. The proper forms for this notice ...
Continue ReadingEffective Dec. 1st, 2023 – Significant changes for real estate services in Ontario Trust in Real Estate Services Act, 2020, S.O. 2020, c. 1 – Bill 145 (TRESA, 2020) On March 4, 2020, the Ontario Trust in Real Estate Services Act, 2020 (TRESA) received Royal Assent, amending the Real Estate and Business Brokers ...
Continue ReadingWhen charging for services in relation to a trade in real estate, a brokerage can use an agreed fixed amount, a percentage of the sale price, or a combination of the two. Before working with clients or customers, it is important that REALTORS® clearly communicate the fee structure and rate they will charge, ...
Continue ReadingWhen you are looking to buy or sell a property or business with a registered real estate salesperson or broker, you may be asked to sign a buyer or seller agreement. Simply put, a buyer’s representation agreement is a contract signed between a prospective real estate buyer and a real ...
Continue ReadingCan a buyer work with multiple real estate agents? Yes, a buyer can work with multiple agents as long as they don’t have a written exclusive (buyer representation) agreement with an agent or an agreement for same services from multiple REALTORS®. The most common service agreement would state that a ...
Continue ReadingThe Canadian Centre for Housing Rights (CCHR) is Canada’s leading non-profit organization working to advance the right to housing. For the first 35 years of our existence – from 1987 until 2022 – CCHR was called the Centre for Equality Rights in Accommodation (CERA). The Canadian Centre for Housing Rights ...
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