Are You Serious? Volume 5.

Aggregating the real estate of condominium commentary, opinion, tragedy and truth being told to the public. Buy into the author’s thought or sell your own. For legal advice, consult a professional condominium lawyer.

Fastest growth in Toronto condo prices is actually not in the downtown

In Toronto, the neighbourhoods with markedly lower condo inventories are seeing faster growth in average unit price. Source: Ephraim Vecina, Key Media Pty Ltd

Kitec: What buyers and sellers need to know

Kitec piping was sold and used between 1995 and 2007. It was used in new home construction and in renovations of some existing homes as a piping system for carrying water throughout the house, and for supplying water to radiant heating systems for both the home and for flooring and heated towel racks.  Source: Martin Rumack, REM Real Estate Magazine

Email Messages Are Not Condominium Records

In the case of Yeung v. MTCC 1136, the Applicant owner in the condominium applied to CAT for access to email correspondence relating to the condominium corporation’s renewal of a gas contract. The email correspondence in question was referenced in Board minutes. Source: James Davidson, Davidson Houle Allen LLP

How a semi-retired photographer lives in 330 square feet

Dave, a former financial services administrator, decided to downsize his life so he could pursue his passion for street photography full time. This spring, he sold his detached two-bedroom house in the Upper Beaches, where he’d been living on his own for the past 31 years, and found a 300-square-foot rental in a 1970s Regent Park building. Source: Jean Grant, Toronto Life

Ontario Property Tax Rates: What You Need to Know When Buying a Home

If you’re considering buying a home, property taxes are an important element to plan for. As a homeowner, you will pay property taxes annually, even after your mortgage is paid off, so it’s important to properly account for them in your budget. Source: Zoocasa Realty Inc.

Can New Condominium Corporations Get Out of Their Cost-Sharing Obligations for Shared Facilities?

In some instances where a condominium has a shared facility (shared with another party), the condominium developer enters into a Shared Facilities Agreement before the condominium corporation is declared. The Agreement then appears on title to each unit at the condominium with the intention that the Condominium Corporation would assume the contractual obligations even though it was never a signatory to the Agreement. Source: David Lu, Davidson Houle Allen LLP