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 ...
Continue ReadingFailure 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 ...
Continue ReadingCan a buyer work with multiple real estate agents? Yes, a buyer can work with multiple agents as long as they don’t have a written exclusive (buyer representation) agreement with an agent or an agreement for same services from multiple REALTORS®. The most common service agreement would state that a ...
Continue ReadingThe Canadian Centre for Housing Rights (CCHR) is Canada’s leading non-profit organization working to advance the right to housing. For the first 35 years of our existence – from 1987 until 2022 – CCHR was called the Centre for Equality Rights in Accommodation (CERA). The Canadian Centre for Housing Rights ...
Continue ReadingUnder the Real Estate and Business Brokers Act, 2002 (REBBA 2002), REALTORS® cannot provide any form of compensation to an unregistered third-party for activities that would be considered to be in furtherance of a trade. This restriction is explained in the Registrar’s Bulletin entitled Referral fees. However, a rebate or ...
Continue ReadingThis one is for agents…. Published by Kartik Subramaniam, founder, Adhi Schools Introduction: In the competitive world of real estate – sometimes, it’s in their best interest to walk away from a potential deal. Aspiring agents are often eager to take on any listing, assuming it’s a stepping stone to success. In ...
Continue ReadingWhen REALTORS® use commission reductions, it is essential to create an appropriate agreement in order to comply with the Trust in Real Estate Services Act, 2002 (TRESA 2002). In a commission reduction agreement, the listing brokerage agrees with the seller to reduce commission that was previously agreed to. The following are ...
Continue ReadingThere are nearly 40,000 real estate agents in Toronto; that is one agent for every 140 Torontonians! In Vancouver, the numbers are even more staggering – one agent for every 61 Vancouverites. It helps, of course, that the market is sizzling hot, but across Canada, the competition among realtors is ...
Continue ReadingThe report from the Ontario Real Estate Association’s Presidential Advisory Group on Diversity, Equity and Inclusion. The overarching goal of the PAG is to identify where systemic racism occurs in the real estate and housing sectors… Over the past two years, a racial reckoning has taken place, triggered by a ...
Continue ReadingThis post deals with the topic of REALTORS® receiving and/or paying referral fees to third parties who may not be directly involved in a real estate transaction. Depending on the specific situation, this may not be permitted under the Real Estate and Business Brokers Act, 2002 (REBBA 2002) and in other situations written ...
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