Katie Steinfeld on LinkedIn: Development charges are costs imposed on developers to help pay for the… | 12 comments (2024)

The City of Toronto's balance of reserve funds for development charges has increased by 10x since 2009. These funds are received from R/E developers to offset the capital cost of providing growth-related infrastructure. Why are these funds not being spent?

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Snow removal has long been assumed to be a landlord responsibility. This recent case shows that a snow removal provision in a lease requiring the tenant to remove snow does not contradict the RTA and can be enforced.https://lnkd.in/ghcbGXm4

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Great article by John Lusink, MBA explaining the impacts of the upcoming capital gains tax increase. It’s important to remember what this change really means and John explains it well in this article:“Many people get confused about what these percentages actually mean. They do not mean sellers are forking over up to two-thirds of their profits. What they do mean is that up to two-thirds of their profits are subject to tax — at an individual’s tax rate — in that year. It’s also important to remember that sellers can deduct most expenses from that final taxable number.”

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Murder, death, suicide, haunted houses - these are all considered stigmas in real estate and many people assume that home sellers need to disclose the existence of a stigma (ex: a death that happened in their home). This is not the case for the most part so it’s important to do the proper due diligence as a buyer and buyer agent if a particular stigma would cause the buyer not to want to purchase a home. Internet searches, asking neighbours, asking the seller or seller’s agent, or adding in a representation and warranty into the agreement that a stigma doesn’t exist are all examples of ways to ensure you are purchasing a home that doesn’t have a stigma.

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Is renting becoming the go-to option for Canadians? This report analyzed the census data for 2021 vs 2016, which showed that renters have increased twice the rate of homeownership between 2021 and 2016 and make up 33.4% of Canadian households. What do you think?https://lnkd.in/gTYvmj6X

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Just listed for $315,000 at 3460 Keele St 🤯ℹ️ one bedroom | one bathroom📏 690 square feet☀️ spacious, west facing balcony🤍 updated kitchen and bathrokm 🅿️ one exclusive use parking space included 🧳 one large storage locker on the same floor as the unitCo-operative units are a good option to consider if you’re looking to get into the market at a more affordable price.Co-operative units are a different form of ownership opportunity where you become a shareholder in a corporation that owns a property. As a shareholder, you’re entitled to the exclusive use of one unit in that property.There are financing differences to this sort of arrangement and approval from the Board of Directors is required in order to purchase into a co-operative building. Reach out for more information about this unit! It could be a great opportunity for you! 🙌

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Ontario is taking significant steps to protect homeowners and homebuyers from unethical practices for rental contracts for equipment such as water tanks, furnaces or air conditioners.Recent years have seen an alarming number of consumers falling prey to deceptive rental contracts and misleading sales tactics, especially seniors.Last year, a class-action lawsuit was filed against 12 companies for allegedly scamming homeowners through aggressive door-to-door sales tactics. Consumers were tricked into signing misleading rental agreements, resulting in those companies registering Notices of Security Interest on title.The Homeowner Protection Act, 2024, would ban the registration of Notices of Security Interest (NOSIs) for consumer goods on the Land Registry and deem NOSIs for consumer goods currently registered on title to be expired. In addition, Ontario intends to consult on regulations under the New Home Construction Licensing Act, 2017, to implement a 10-day cooling-off period for buyers of new freehold homes, which would align protections with those of purchasers of new condos who already benefit from a cooling-off period.More information to come.

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A reminder to register for RECO’s AGM. Deadline to register is May 29th at 9am. Register here https://lnkd.in/gBk4292zHope to see you there!

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