Condos for Rent | Tenant Beware : Home or Problem? Vol 1.

Shelter Costs Increase

The rate of maximum rent increase for 2020 is based on the Ontario Consumer Price Index compiled by the Federal Government in Ottawa. The statistics are by province and national. The August cost increase in shelter year over year between the nation (2.4%) and Ontario (3.1%) is a 29% increase.

Condominium Corporations with a financial year (fiscal) beginning in January may already have their Boards of Directors directing property managers to keep condo fee increases reasonable in relation to current shelter costs.

For renters however, the province has set the year over year rent increase from 1.8% to 2.2% which is a difference of 22% and the largest since 2013. In the article below are the exceptions to the guidelines and a table of past increases.

Rent increase guideline

The guideline is the maximum a landlord can increase most tenants’ rent during a year without the approval of the Landlord and Tenant Board. Source: © Queen’s Printer for Ontario

Are You Serious? Volume 13.

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.

Condominium Landlords Can Be Held Responsible for their Tenants 

Can a condominium corporation hold a unit owner financially responsible for legal proceedings initiated against the corporation by his/her tenant, even in cases where the owner did not authorize the lawsuit? In the recent case York Condominium Corporation No. 187 v. Sandhu, the Ontario Superior Court of Justice answered this question in the affirmative. Source: Mohiminol Khandaker, Davidson Houle Allen LLP

Fire Safety for Condos and the Implications of Short-Term Rentals

Fire safety in Ontario is governed by the Fire Code O. Reg. 213/07, which is a regulation made under the Fire Protection and Prevention Act, 1997. The Fire Code establishes minimum requirements for fire safety in buildings and facilities, including condominiums. Source: Danielle Swartz, Lash Condo Law

Property managers: Social worker for tenants?

Being in the business of owning and managing residential real estate has with it the advantage that there will always be customers because people will always need a place to live, but along with that comes the challenge that the product is very personal in nature: it’s somebody’s home. Source: Brandon Sage, LandLord Property & Rental Management, Inc., Key Media Pty Ltd

Who’s winning the Toronto condo market?

More than one third of Toronto’s condo units are owned by people who don’t live in them, according to new numbers from Statistics Canada. Who are all these condo investors and how much money are they making? We found a few and asked them. Source: Josh Dehaas, Toronto Life

Elevator Ups and Downs

Users of the approximately 19,900 residential and institutional elevators in Ontario take approximately 655,000 elevator trips in a single day, according to Delta Elevator. And elevators are essential to the mobility of many of these users, who include residents and guests of condominium corporations. Source: Courtney Cartmill, Condominium Manager , Wilson, Blanchard Management Inc.

b-LOG: CONDO FEES: The 2 Questions You Should Ask

We often hear from people (the general public and REALTORS® alike) who have concerns with condo fees. By concerns we mean good ol’ fashioned “no thanks!” hesitation. Source: THE bTEAM

Are You Serious? Volume 12.

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.

Condo Trademarks

It is not uncommon for owners to associate and identify their condominium with the marketing/project name the developer provided for the condominium project. Knowledge and use of the condo corporation’s legal name (for example, Toronto Standard Condominium Corporation No.1234) is often not used by owners.  The author of this post sheepishly admits that he only recently learnt the legal name of his condo corporation, four years after ownership! Source: Joseph Salmon, Lash Condo Law

Like Little Towns

Like Little Towns. In speaking with friends who serve on municipal Councils and Boards, I am struck by the utter disbelief they display upon hearing of the lack of accountability of our Boards of Directors and Property Management Companies and of the baffling lack of “enforcement” on the part of the Ontario Government. Each and every one, without exception, has stated that if the antics of some Directors, Officers and Property Managers of some condominium Corporations were to occur in the sphere of “municipal governance”, those responsible would be facing the scrutiny of the Ministry of Municipal Affairs and Housing, the Ministry of the Attorney General and investigations by provincial auditors and regional and provincial police services. Source: CAFCOR, Canadian Alliance for Condominium Owners Rights

Tips for Managers, Boards or Both

Some Helpful Thoughts to Help Everybody to Get Along Source: unknown, CCI – Canadian Condominium Institute

Artificial Intelligence for Condominium Managers

Artificial intelligence technology may soon be ready to improve on management of condo buildings. Source: Toronto Condo News

Demystifying condominium reserve fund studies

An expert shares common financial planning problems as well as possible solutions

Even before 2001, when the current Condominium Act started to require reserve fund studies at least once every three years, the industry was grappling with how to make the best use of this financial planning tool. In broad strokes, a reserve fund study is prepared to identify reasonably foreseeable repairs or replacement of the physical assets of the corporation and create a funding plan that can accommodate the associated expenditures. Source: Bruce Davidson, MediaEdge Communications Inc.

Down Payment for a Condo How Much Do You Really Need?

Toronto housing market has witnessed a large population buying condos either for settlement in attractive neighborhoods of the city or to invest in property. There are several things to consider before purchasing one. The most basic of these factors include- locality of the development, transport, interiors, amenities, and most importantly, the budget range of the condo purchase. Source: Jordan, Precondo