Canada's Condominium Magazine

Author Archives: Josephine Nolan

Toronto staff recommend keeping Bloor bike lane: 92% of cyclists, 57% of drivers and 51% of local businesses support the move

Toronto staff recommend keeping Bloor bike lane: 92% of cyclists, 57% of drivers and 51% of local businesses support the move

According to Census (2009), 1.7% of Torontonians bike to work, an increase from 2006 of 30%. This number likely increased since the last census report due to more bike-friendly lanes and an increase of urban density. This signals Toronto is moving in the right direction with bicycle lanes — especially now with the density of… Continue Reading

Short supply of rentals pressures rent higher: average $2,219; 3 bedroom breaks $3,000 average

Short supply of rentals pressures rent higher: average $2,219; 3 bedroom breaks $3,000 average

The ongoing short supply of rental units — expected to only get worse as purpose-built development dries up under new Ontario rules — has driven the average rent for an apartment over $2,200 for the first time. With 2 bedrooms averaging nearly $2500 and 3 bedrooms breaking $3,000 it is not good news for families… Continue Reading

Purchasing Your Condo: Out with the Old, In with the New? Pros and cons of pre-build condos, as they surge in popularity

Purchasing Your Condo: Out with the Old, In with the New? Pros and cons of pre-build condos, as they surge in popularity

Especially now, with the move towards condominiums as a buyer-preference in the Greater Toronto Area — and a shortage of available listings — deciding between new pre-build and resale is often the first decision to be made. Especially for families, who require 2 or 3-bedrooms, there are typically more choices in pre-build condos. Many modern… Continue Reading

Google’s Sidewalk Labs teams up with Waterfront Toronto to create urban community “lab” of the future at Portlands

Google’s Sidewalk Labs teams up with Waterfront Toronto to create urban community “lab” of the future at Portlands

Toronto’s worldwide reputation as a technology hub was bolstered by an announcement from Google’s Sidewalk Labs, who will partner with Waterfront Toronto (and all levels of government). The goal is to transform the last remaining undeveloped waterfront land in Toronto, at Quayside into the urban smart city of the future — a technology-optimized, environmentally-friendly mixed-use… Continue Reading

What every condo resident should know about automatic fire sprinklers; why they’re important; how to prevent expensive water damage

What every condo resident should know about automatic fire sprinklers; why they’re important; how to prevent expensive water damage

Newer high-rise condominiums are equipped with automatic sprinkler systems. But most condo owners and residents, don’t understand how this vital life-saving system works. This lack of understanding could result in inadvertently damaging a sprinkler system reducing its overall effectiveness — or in the worst case, it could cause thousands of dollars in water damage to… Continue Reading

New mortgage rules could strip buyers of 25% of their buying power and targets uninsured mortgages

New mortgage rules could strip buyers of 25% of their buying power and targets uninsured mortgages

With Ontario Fair Housing Plan rules already impacting the Toronto market, putting some prospective buyers in “wait and see” mode, new mortgage rules could further test the market’s resilience.The “Nanny” provisions — which will make it more difficult to borrow, with the goal of “protecting” people from themselves — will reduce the amount of the… Continue Reading

A good time to be a condo landlord: despite record high rent, up 10.3% year-over-year, intense tenant competition makes it a “landlord’s market”

A good time to be a condo landlord: despite record high rent, up 10.3% year-over-year, intense tenant competition makes it a “landlord’s market”

The average vacant condo is rented within 10 days, at an average rent of $2,219. Ontario’s new rent controls, expanded to include newer buildings, is partially to blame for record high rent being asked by landlords across the city. With caps on rental increases for renewing tenants, landlords are making sure their initial rent is… Continue Reading

Condominium Act or Residential Tenancies Act: which takes precedence in a tenant issue? Can a condo landlord deny permission to sub-lease or have pets?

Condominium Act or Residential Tenancies Act: which takes precedence in a tenant issue? Can a condo landlord deny permission to sub-lease or have pets?

Today, there seems to be little incentive for condo owners to “lease” out or rent their condos. In doing so, the condo owner (as a Landlord) places him/herself between the Tenant (who has rights under the Residential Tenancies Act) and the Condominium Corporation (governed by the Condominium Act.) This difficult relationship was highlighted recently by… Continue Reading

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