COVID-19 has quickly circled the globe and is causing havoc across the planet. The flu spread through China, Europe and now has hit the United States. Here in Canada, the virus has started to spread in several provinces, and non-essential businesses have begun to shut their doors. Employment insurance applications are in the millions, and hundreds of thousands of Canadians are already facing down rent and bills they might not be able to pay.
Real estate has long held a reputation as being a prime investment vehicle, with rental properties serving as a key subsidiary within the investment class. But when people contemplate purchasing real estate as a rental property, they often hear horror stories involving renters who fail to pay the rent, refuse to be evicted, cause extensive damages, or otherwise create assorted problems for their landlords.
Condo construction continues to explode in Ontario’s major cities like Toronto, Ottawa and Hamilton, as rising downtown populations force more vertical development. While apartment building-style residences remain the most numerous condominium type, there are actually a variety of different formats recognized under Ontario’s 1998 Condominium Act. In this article, we’ll be walking prospective owners through the different condominium types available in the province to give you a better idea of each one’s characteristics, and the legal obligations involved in ownership.
As of October 17, 2018, the possession, sale and consumption of marijuana was legalized in Canada. In most provinces, it is legal to grow up to four plants per residence and smoke marijuana at home. But what are the implications for landlords? Hydroponics is an expensive business. Who will foot the bill?
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