Real Estate

New mortgage stress test could make homes less affordable

The government’s attempt to cool the hot housing market may actually prevent some people from being able to buy a new home, Toronto real estate lawyer Matthias Duensing writes in The Lawyer’s Daily . Read more

Forcing owners to carry pets may contravene condo rules

A condo’s rules — including those around pets — must be deemed reasonable and can't be inconsistent with the Condominium Act or the building's declaration, Toronto real estate lawyer Daniel Bernstein tells AdvocateDaily.com . Read more

Condo Act amendments 'significant': Kleiner

Amendments to the Condominium Act that took effect in November 2017 marked the most significant changes to the condominium industry since its inception, writes Toronto condominium lawyer Warren Kleiner in Condo Voice . Read more

Anonymous tip line not ideal for tackling systemic real estate issues

Although British Columbia’s real estate regulator is aiming to boost consumer protection via its new anonymous tip line to report alleged misconduct by agents and brokers, an initiative that attaches names to the complaints may be more effective at fixing errors in the system, Vancouver corporate lawyer Jonathan Reilly tells The Lawyer’s Daily . As the article notes, the B.C. Real Estate Council tip line, launched in mid-March, allows people to call in or submit an online form detailing alleged wrongdoing. Council investigators review the anonymous tips and will conduct an investigation if they feel there is sufficient evidence of misconduct. Read more

Vancouver rules for short-term rentals to ease city's vacancy rate: mayor

VANCOUVER — The city of Vancouver is moving to legalize short-term rental accommodation but operators will only be able to advertise their principal residence. Vancouver Mayor Gregor Robertson says the move is to protect and free up rental housing in response to a critically low vacancy rate. There are roughly 6,600 short-term rentals posted online, and more than 80 per cent will remain legal under the program. Operators will be required to apply for a business licence by Sept. 1 and include the number in their listing, which one popular company has agreed to make as a requirement on its platform. The cost of the license is $49 annually, and operators must have permission from their landlord or condo board and adhere to fire and safety standards. There are about 1,000 units currently listed that are not an operator's primary home and Robertson says they should go back on the rental market or be subject to a $1,000-a-day fine. “Housing here is for homes first and be used as a business after that and be taxed as a business appropriately,'' Robertson says. Read more

Warranty coverage for condo conversions a boost to the industry

New warranty coverage will provide long-overdue protection for purchasers of converted condos, Toronto condominium lawyer Armand Conant tells AdvocateDaily.com. Read more

Conant to speak at CCI information session

Toronto condominium lawyer Armand Conant will be speaking at an upcoming condo information session in London, Ont. Read more

Berkovitz to discuss changes to condo legislation at upcoming conference

Toronto condominium and business lawyer Joel Berkovitz will join a panel of legal professionals to discuss new legislation and current issues facing condo boards and corporations at the upcoming Springfest conference. Read more

Howden to discuss legislative changes affecting condo corps at Springfest

Toronto condominium lawyer Deborah Howden will offer her insights on the key issues that will face condo boards and corporations in 2018 at the upcoming Springfest conference. Read more

Mackey to offer insights on changes to Condo Act at Springfest

Toronto condominium and commercial litigator Megan Mackey will join a panel of legal professionals to discuss key issues facing condo boards and corporations in 2018 at the upcoming Springfest conference. Read more

Non-resident tax may not cool Ontario’s hot housing market: Duensing

With housing costs on a “runaway trajectory,” it remains to be seen whether the province’s attempt to stabilize the market will be successful, Toronto real estate lawyer Matthias Duensing writes in The Lawyer’s Daily . Read more

Condo boards can legally ban cannabis use

Although cannabis is expected to be legalized this summer, condo dwellers shouldn’t count on being able to spark up in their homes, Toronto condominium lawyer Deborah Howden tells NOW magazine. Read more

New rules for accessing condo records

Changes to the Condominium Act will affect the ability of condo owners to access records from corporations, Toronto real estate lawyer Joel Berkovitz writes in Condominium Manager magazine. Read more

Pre-construction builds privy to market correction

Toronto’s softening housing market is a good reminder that pre-construction homes and condos are also vulnerable to price fluctuations, Toronto real estate lawyer Daniel Bernstein tells AdvocateDaily.com. Read more

Proposed CSA amendments to protect small investors

Proposed rules around syndicated mortgage investments (SMI) will help “weed out” those who are taking advantage of unsophisticated investors, Toronto corporate and commercial lawyer Marlin Horst tells The Lawyer’s Daily . Read more