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Industry News
Let's Review Something Important
The past six months have started to see the property/casualty insurers place an increasing emphasis on attempting to get a better handle on the validity of the insured values that owners are insisting on using, when negotiating renewals.
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CAPREIT Acquires Landmark Olympic Village Property in Montreal
Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR.UN) announced today that it has completed the acquisition of the landmark Olympic Village property in Montreal.
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BILD launches new RenoMark website
Today the Building Industry and Land Development Association (BILD) revealed a redesigned renomark.ca - the increasingly popular website that identifies professional renovators across Canada.
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International Tenants Day Summit to assess Fairness for Tenants
On Saturday September 29th, The Federation of Metro Tenants’ Association (FMTA) will be teaming up with tenants and affiliated tenant advocacy groups to hold its second annual International Tenants Day Summit. This year’s summit focuses on Fairness for Tenants, and the FMTA will be launching the Fair Lease Campaign.
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Greenwin Inc. Partners with International Pay it Forward Movement
Greenwin Inc. recently announced a partnership with the international Pay it Forward Movement (PIF), a worldwide non-profit organization that aims to celebrate the kindness and gratitude of individuals.
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Ontario Places New Limits on Allowable Rent Increase
Inflation could bring added budgeting woes for Ontario’s rental housing landlords beginning in 2013 when the annual allowable rent increase will be capped at 2.5 per cent. This arises from a new amendment to the Residential Tenancies Act that the recently re-elected provincial government introduced in December 2011, much to the surprise of rental housing industry advocates.
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Professional Property Managers Reduce Rental Vacancy Rates
All Property Management recently conducted a survey to determine how professional property managers can help investors with their ROIs.
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BOMEX2012 to be held in Ottawa - A Capital Place to Gather
BOMEX2012, Canada’s leading national conference for the Commercial Real Estate industry, will be in Ottawa from September 11th to 13th at the Westin Ottawa Hotel.
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Bed Bug Concerns Addressed in North American Summit
BedBug Central, a leading educational resource for bed bug services, is set to provide property managers, housing directors and landlords with information on effective bed bug management at the third annual North American Bed Bug Summit.
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One can only wonder...
The year is not going well. There is no point in pretending that there’s a recovery occurring, or that we are “over the worst part”, nor that things can only go “uphill from here”. Optimism is a wonderfully uplifting attitude that can invigorate us and provide the energy and motivation to move forward. But there is nothing gained by ignoring reality and, as far as North America goes, the realities are not pleasant.
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CAPREIT Announces $455 Million Acquisition
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) recently announced it has entered into an agreement to acquire 3,562 apartment suits throughout 14 properties across Canada. As well as the acquisitions in Ontario, Montreal, Quebec City and Halifax, CAPREIT will sell roughly 6,850,000 units at a purchase price of $22.75 per unit for a proceed of $155.8 million to partially finance the acquisition.
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Residential Building Permits in Canada
The value of residential building permits in Canada declined to $3.9 billion in February, 5.3 per cent less than in January 2012. The decrease was mainly due to lower construction intentions for single-family and multi-family dwellings in Ontario. Declines were also seen in five other provinces, whereas the largest gains were observed in Alberta, Quebec and British Columbia.
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Multi-Family Investment Volume Reaches $377 Million in BC
Avison Young recently released its Winter/Spring 2012 BC Multi-Family Investment Report, outlining the rental market in BC in 2011. Metro Vancouver saw multi-family assets remain in high demand as low-cost financing allowed primarily private buyers to reach those few assets that became available.
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Opening of affordable housing building in Vancouver for adults with mental health challenges
The governments of Canada and British Columbia gathered on August 31 to celebrate the official opening of an 18 unit rental building which provides housing for low-income individuals with mental health challenges in Vancouver.
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Verdiroc and Greenwin Celebrate the Fifth Anniversary of 121 Parkway Forest Drive
On August 17, Verdiroc Development Corp.and Greenwin Inc. celebrated the fifth anniversary of The Harold Green Building (121 Parkway Forest Dr., Toronto).
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Call for housing proposals for Summit Action fund in Saskatchewan
The Saskatchewan Housing Corporation (SHC) is seeking proposals for the Summit Action Fund (SAF).
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HST backtrack could create headache for BC rental housing providers
Advocates for British Columbia’s rental housing industry want to see the harmonized sales tax (HST) retained even though landlords aren’t eligible for the rebates most corporate taxpayers receive.
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Federation of Canadian Municipalities supports Toronto Community Housing’s wind turbine study
Berry Vrbanovic, president of the Federation of Canadian Municipalities (FCM) and councillor for the City of Kitchener, Ont., recently announced a Green Municipal Fund (GMF) grant contribution for Toronto Community Housing.
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Rental housing included in the eco-energy retrofit incentive program for homes
The Canadian Federation of Apartment Associations (CFAA) applauded the Federal Government for extending the eco-Energy Retrofit Incentive Program for Homes in a way which supports energy efficiency in rental housing.
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Ontario Fire Marshall makes recommendation regarding hoarding by tenants
The Ontario Fire Marshall has completed its investigation into a fire at 200 Wellesley Street, a 30 storey, 711-unit residential apartment building in Toronto.
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FRPO announces that Ontario's 2012 rental increase guideline will be 3.1 per cent
FRPO announced June 29 that the Ontario rent control guideline for 2012 will be 3.1 per cent, up from the 2011 guideline of 0.7 per cent. The 2012 guideline is calculated using CPI data from June 2010 to May 2011.
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Important information for landlords regarding rental ads
The Ontario Human Rights Commission has announced that it has written to media and housing websites regarding discriminatory housing advertisements.
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Announcing the launch of LandlordWebsites.ca
Landlord Web Solutions is proud to announce the launch of landlordwebsites.ca - a website that offers landlords the opportunity to build their own rental website using a unique website builder with pre-designed themes.
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Announcing the launch of ApartmentJobs.ca
Landlord Web Solutions is proud to announce the launch of Apartment Jobs – the industry’s first employment website dedicated to the apartment industry.
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Rents lag inflation
The national vacancy rate declined from 2.9 per cent in April 2010 to 2.5 per cent in April 2011. The
average availability rate also declined from 5.4 per cent to 4.3 per cent. However, this still indicates a good
availability of apartments for prospective renters.
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Unique property slated for multi-family residential use in the desirable Edmonds neighbourhood of Burnaby
VANCOUVER, May 25, 2011 /CNW/ - Canada Safeway Limited is marketing a 42-acre property in the Vancouver area that is close to major transportation and transit hubs, shopping and schools and is designated as multi-family in the Edmonds area Official Community Plan.
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A caution on Bell employee access to your building
It has come to FRPO’s attention that Bell Canada employees/agents in the Toronto area have been entering rental buildings on the false premise that they are tending to existing telephone equipment on the site.
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OEB announces increase in electricity prices
Starting May 1, 2011, prices for property owners who buy their electricity through their utility will increase about 6.1 per cent in total for residential units who use an average 800 kWh of electricity a month.
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Spring Hope Food Drive is a success
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Largest apartment complex sale in Canadian history - Tenant satisfaction key to deal
LONDON, ON, March 3 /CNW/ - ESAM Construction sold Cherryhill Village in London, Ontario to the Minto Group Inc. for $215 million, in the largest sale of an apartment complex in one location in Canadian history. Brokered by Derek Lobo of Burlington-based Rock Advisors Inc., this blockbuster deal included 2,326 apartment units in 13 buildings, the 150 thousand square foot Cherryhill Village Mall and a 30 thousand square foot office building.
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Canada’s largest multi-unit food drive’s aim is to collect 500 thousand pounds of food
March 4, 2011 - Rental housing owners, managers and residents will start collecting 500 thousand pounds of food for the 2011 Spring H.O.P.E. (Housing Owners and People Everywhere) door-to-door food drive on Tuesday, April 5, 2011.
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Greenwin Inc. announces further expansion of management portfolio into Atlantic Canada
Canada’s rental apartment investment sector continued to register healthy market characteristics over the last year. Investors enjoyed attractive yield results and stable income performance.
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New guide benefits homebuyers and builders across B.C.
VICTORIA – A new Residential Construction Performance Guide is the latest information tool to protect buyers of new homes and enhance the quality of construction in British Columbia, announced Rich Coleman, Minister of Public Safety and Solicitor General and Minister Responsible for Housing.
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