Legalization of Cannabis and Its Possible Impact on Real Estate
As we approach the legalization of home cannabis cultivation and recreational use, there are many questions around the impact that it may have on the real estate market. Concerns revolve around the influence it could potentially have on property values. Most mortgage companies were unwilling to insure homes that were formerly used as cannabis grow operations. […]
Understanding the New Ontario Standardized Lease Agreement
The new standardized lease agreement was created by the Ontario government for private residential leases of various property types including single and semi-detached houses, apartment buildings, condos and secondary units. Effective April 30th, 2018, all leases used by a landlord in Ontario must be drawn up on the new standardized lease. For any lease that is […]
Tax Time Advice
While the sale of your principal residence has not had any tax implications in the past, 2016’s changes to reporting should be taken seriously. If you don’t report the sale on your income tax return, you could be subject to a fine up to $8,000. While the CRA may reassess your tax returns going back […]
Real Estate Market Update – What’s Happening Around the GTA?
On May 1st, Team Masterson attended a real estate market update session with guest speaker Phil Soper, President & CEO of Royal LePage and Brookfield Real Estate Services Inc. Before I share his insights, you might want to know a bit about the man behind the presentation and the company behind the man. Phil Soper […]
Landlord Licensing in Toronto?
A proposal to the Toronto City Council will be made regarding landlord licensing. It concerns approval of a new regulatory by-law for rental apartments, which would require that all buildings are registered with the city. Additionally, the proposal looks to have a process in place for tracking tenant repair requests, installation of a notification board, implementation of a […]
Passive income from a rental property can be a rewarding experience. It does not have to be hard work, if you are well prepared. There are many resources, which outline the rights of the landlord as well as those of the tenant. The rules around entry to the rental unit is the question that I […]