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

Condo Real Estate Market Update 2019 Q2

Condo Real Estate market statistics for 2019 2nd quarter reported by the Toronto Real Estate Board.

Condo Market Report

TREB Releases Q2 2019 Condo Market Statistics

Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,038 condominium apartment sales through TREB’s MLS® System in the second quarter of 2019. This result was up by 3.2 per cent compared to Q2 of 2018. Source: Toronto Real Estate Board

Are You Serious? Volume 4.

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.

Working with Condo Boards that Want to Manage

In previous blog entries, we reviewed Advice for New Condominium Managers, and How to Successfully Transition to a New Property.  So you’ve started your career (or are still advancing it) and you’ve set yourself up for success in your new property. Source: Lyndsey McNally RCM, Malvern Condominium Property Management, ACMO

Condo Board Disclosure

Some interesting issues have cropped up recently around “Candidate Disclosure” requirements for candidates running for positions on condominium boards of directors. Source: Sarah Morrey, Lash Condo Law

Call to condo lawyer would have saved corporation time, money

A condominium management team that objected to a Jewish condo owner attaching a mezuzah to the doorframe of his residence highlights the importance of seeking legal advice before taking action, says Toronto condominium lawyer Audrey Loeb. Source: Kirsten McMahon, Managing Editor

What is Arbitration?

Whenever I am Asked to Explain Arbitration, I Start With Judge Judy Source: Marc Bhalla, CCI Toronto and Area Chapter

Condo boards can ban balcony barbecues: Mackey

Residents will struggle to challenge condo-imposed bans on balcony barbecuing, says Toronto condominium and commercial litigator Megan Mackey. Source: Staff

How Much is Your Condo Worth? The Lowdown on Pricing a Condo

Wondering how much your condo is worth?

Determining the value of a condo is generally easier than valuing a house because there are likely identical or nearly identical comparable sales in your building. In determining the value of a condo, real estate agents and appraisers will determine the price per square foot of recent sales and use that as a basis to determine the value of your condo. For example, a 750 sqft condo may be worth $900 PSF (per square foot) or $675,000. Source: the BREL Team | Toronto Realtors