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What Every Homeowner Needs to Know About Toronto’s New Vacant Home Tax
All homeowners will need to declare the status of their property as part of an effort to crack down on real estate investors and improve housing Letting a home sit empty in the middle of a housing crisis will now cost you, with the introduction of Toronto’s vacant home tax on ...
Continue ReadingFlipping a House? Your Gain Could be Fully Taxable Under This New Rule
Don't forget, the new residential property flipping rule, introduced in Budget 2022, is now law. This rule was included in Bill C-32, which received Royal Assent on December 15, 2022. The new rule deems profits from a “flipped residential property” as business income to target individuals that misclassify these profits as ...
Continue ReadingWhat Do You Need to Know Before Buying Multi-Family Real Estate?
Buying a multi-unit, meaning a building with five or more units, can be a great opportunity for investing in real estate. But before diving in, it’s important to know everything that’s involved with such a purchase, and the requirements that come with it. Here’s my advice if you’re interested in ...
Continue ReadingResidential Rent Increase for 2025
Rules for rent increase In most cases, the rent for a residential unit can be increased 12 months after either: the last rent increase the date the tenancy begins The landlord must give a tenant written notice of a rent increase at least 90 days before it takes effect. The proper forms for this notice are available from ...
Continue ReadingWhy the Next Few Months are the Best Time to Put Homes on Sale
Timing is a crucial consideration when selling a home. A recent market study indicated it is ideal to put properties on sale during the months of February, March, and April. While the weather is not ideal during February, the month allows home sellers to gain exposure before the spring rush. The normally ...
Continue ReadingThe Seller Representation/Listing Agreement
Congrats, homeowner! You’re ready to sell your house, and you’ve picked a real estate agent you trust to get the job done. That’s a big step toward your end goal. But before you can put your home on the market and show it off to the world, you need to ...
Continue ReadingCan I Sell a Property Without a REALTOR® ?
Yes. Just like a Buyer can represent themselves, so can a Seller. If you are involved in a real estate transaction and are not a client of a real estate brokerage, you are considered a Self-Represented Party. There are significant risks to representing yourself in a real estate transaction if you ...
Continue ReadingHow to Interview a Realtor in a Brief 15 Minute Phone Call
How to Interview a Realtor in a Brief 15 Minute Phone Call You’re about to face one of the largest financial transactions of your lifetime. You need to hire a real estate agent and you need them to know their stuff. But who’s got the time to spend hours and hours ...
Continue ReadingRadon Gas and other Environmental Concerns
Failure to identify and address such issues may result in parties unknowingly assuming substantial liabilities. Environmental issues routinely arise in all types of real estate transactions, from the sale of individual residences to the transfer of large commercial and industrial facilities. Managing the associated risks is almost always possible. The bigger ...
Continue ReadingCommercial Real Estate Acquisition: 5 Tips for Success
Buying real estate is a costly undertaking, and business owners need to exercise due diligence every step of the way. Without proper planning, entrepreneurs can face a host of problems, including inadequate financing, unexpected construction costs, inefficient layout and environmental lawsuits. Although real estate costs have shot up in recent decades, entrepreneurs are still ...
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