Monday, January 29, 2018

Canada among best for real estate wellness

Putting people’s health at the centre of design, creation and redevelopment is the next frontier of real estate according to a new global report.

The Global Wellness Institute has analyzed the global market for wellness lifestyle communities and says that there is high demand for healthy homes, with the global market growing at 6% annually.

Canada ranks in the top 10 markets for wellness real estate market size; 9th with a U$2.2 billion market. It also ranks 6th for projects in the pipeline (17). The US leads with a U$52.5 billion market size and 355 projects.

“Collectively, we must shake up our thinking: healthy homes are as important as immunizations; parks, paths, and plants are as beneficial as prescriptions; friends and neighbors are far more important than Fitbits,” said Katherine Johnston GWI Sr. Research Fellow. “All the industries that create our home environments - real estate investors, urban planners/designers, architects, transportation planners, the construction industry – play a massive role in human health. And they need to partner to meet the desperate need – and fast-rising demand – for healthier homes and communities.”

The trends for the wellness real estate market’s future GWI sees include: a blurring of the lines between home, work and leisure; making healthy homes more affordable; and increasing multigenerational and diverse neighbourhoods.









Source: https://www.canadianrealestatemagazine.ca/market-update/canada-among-best-for-real-estate-wellness-236916.aspx

Thursday, January 25, 2018

Can residential landlords restrict cannabis activity in rental units?

The legal rules which apply to the growing of cannabis for personal use have changed significantly in recent years, driven in part by politics but also by decisions of the courts (R. v. Parker [2000] O.J. No. 2787; Allard v. Canada2014 FC 280).

The rules are expected to evolve further with the legalization of cannabis, including a proposal that people should have the right to grow up to four cannabis plants for personal use. Currently, the Access to Cannabis for Medical Purposes Regulations apply to permit limited cannabis growing by an authorized person (one with a prescription); however, the right to grow is not absolute, nor is it likely to be so in future.

Under current regulations, an eligible grower must comply with applicable provincial and municipal laws relative to health and safety, including applicable building, fire and electrical codes. Upon legalization of cannabis, it is expected similar rules will apply, but it is unlikely that those rules will operate without regard to the legal interests of rental property owners and other occupants of rented residential premises. An assumption that cannabis regulations will “trump” residential lease provisions should be tempered by practical considerations and the law of contract, subject always to issues of compliance with human rights legislation.

In Ontario a landlord may prohibit cannabis growing in apartment units through terms of a lease, subject to the requirements of the Ontario Human Rights Code (the code). The fact that an individual holds a prescription for medical cannabis does not mean that they are entitled to grow plants in their rental unit, particularly if they have agreed in their lease not to do so. If the person cultivates cannabis and relies on the code and existing regulations as grounds to break the lease, a landlord can challenge the position by invoking regulatory policies applicable to accommodation of individuals with disabilities.

A person with a disability is obliged to disclose their needs to the landlord and to work co-operatively to ensure the need is met, while also respecting the rights of other people who may be adversely affected by the accommodation  (Ontario Human Rights Commission policy on human rights and housing). Ultimately such issues are determined based on specific facts of each case.

There is no legal rule or statute that says a person with a cannabis reliant disability must grow it in a multi-residential rental building, particularly when the lease prohibits it. People who hold prescriptions can purchase the product, grow plants off site, have someone else grow plants on their behalf, or grow them in a designated area.

A person’s interest in growing cannabis must be balanced with the interest of the landlord to ensure that the health and safety of other residents and the physical integrity of the property are not put at risk by the activity of cannabis growth in a rental unit. Excess humidity (mold), excessive electricity consumption (if hydro is “included in the rent”), and alterations to the electrical system increasing a fire risk are legitimate concerns for landlords and other tenants. There are security issues if cannabis production in a unit is known to third parties and finally, insurers may refuse to provide coverage for “grow-ops,” regardless of their size.

If there are no human rights code issues, landlords and tenants have a right to contract to prohibit cannabis production in a rental unit and to enforce that right at the Landlord and Tenant Board by way of an order for compliance with the lease, failing which the tenancy will be terminated. Successful enforcement will depend on the quality of evidence led at a hearing as the advocate must persuade the board member that the breach of the lease is sufficiently “serious” to warrant enforcement.

At least one Landlord and Tenant Board member has ruled that, even if the tenant’s growing of cannabis in the rental unit was “illegal” due to the failure to comply with applicable regulations, the “illegal act” was found by the member to not be “serious”; consequently, eviction was refused. The board member noted, however, that no evidence was led to suggest that there would be damage to property or risk to other residents if the illegal activity continued.

As for the smoking of cannabis in the rental unit, many landlords prohibit the smoking or burning of any substance in the rental unit, including cannabis or cigarettes, subject to the code. Where a tenant relies on the code to justify a breach of the smoking prohibition in the lease, the specific facts of a case will dictate enforceability: for example, cannabis need not be consumed by smoking.

Even if the person demanding the right to smoke the product establishes that consumption by smoking is most appropriate to accommodate the disability, there is still usually no reason why the person can’t be required to smoke outdoors in the same manner that smoking of cigarettes is prohibited in buildings.









Source: Joe Hoffer https://www.thelawyersdaily.ca/articles/3779

Monday, January 22, 2018

Homebuyers want automation, still want human agent

There’s a careful balance to be found between automation and humans in the real estate buying process.

Buyers want the ability to track the progress from making an offer through to the deal closing but are far from ready to do so without tapping the valuable insights that a real estate agent offers.

A survey conducted by US online real estate platform Move found that knowledge of the market and neighbourhood, together with unique perspectives from a human agent is valued by homebuyers.

Automation must be used for the right processes; for example just 14% of homebuyers said they were likely to respond to a communication that appeared to be automated.

"This is a critical time for real estate professionals," said Luke Glass, executive vice president, industry platforms for Move. "The emergence of technology and automation onto the scene has greatly improved the real estate process in some ways, yet these findings reveal that many agents are failing to leverage technology or to use it properly at key points along the journey, to the detriment of the agent-client relationship."

The survey highlights five key factors that buyers use to decide which real estate agent to choose: Honesty, local market expertise, likeable personality, personal connection, and client recommendations.












Source: https://www.canadianrealestatemagazine.ca/market-update/homebuyers-want-automation-still-want-human-agent-236602.aspx

Thursday, January 18, 2018

CREA: home sales up 4.5% in December

Home sales ended 2017 with a rise in sales ahead of the mortgage stress test which came in at the start of the New Year.

The Canadian Real Estate Association says that there was a 4.5% increase in nationwide home sales in December compared with November, marking their fifth consecutive monthly rise.

Activity increased in almost 60% of local markets with the GTA, Edmonton, Calgary, the Fraser Valley, Vancouver Island, Hamilton-Burlington and Winnipeg leading the gains.

Actual (not seasonally adjusted) activity was up 4.1% year-over-year. Annual gains were strongest in the Lower Mainland of British Columbia, Vancouver Island, Calgary, Edmonton, Ottawa and Montreal. The GTA saw a decline.

“National home sales in December were likely boosted by seasonal adjustment factors and a potential pull-forward of demand before new mortgage regulations came into effect this year,” said Gregory Klump, CREA’s Chief Economist. “It will be interesting to see if monthly sales activity continues to rise despite tighter mortgage regulations that took effect on January 1st.”

New supply of homes in the GTA pushed new listings nationwide up 3.3% but inventory remained subdued at 4.5 months of supply.

CREA’s aggregate home price index was up 9.1 year-over-year in December, the smallest increase since February 2016 and the 8th consecutive slowdown of price increases.















Source: https://www.canadianrealestatemagazine.ca/market-update/crea-home-sales-up-4-5-in-december-236333.aspx

Monday, January 15, 2018

Canadians are financially confident says CIBC poll

Canadians are generally confident in their finances but they are concerned about interest rates and saving.

A CIBC poll reveals that overall confidence in finances is lower in 2018 than it was a year ago with 70% saying they are confident in their current financial position nationally, down from 72% in 2017.

Confidence is highest in Quebec (76%) and Ontario (70%) and lowest in Atlantic Canada and Alberta (64%).

Nationally, 77% think they will achieve their financial goals in 2018 but 59% say their financial confidence will be dampened if interest rates rise again.

Seven in ten say they are not saving enough and the same share have lost some of their financial confidence due to rising food costs and other household expenses.

"This poll offers a glimpse into the financial psyche of Canadians who say they feel confident about their finances, but are actually very worried about bumps in the year ahead that could derail their goals," says Jennifer Hubbard, Managing Director, Financial Planning and Advice, CIBC. "Given that household debt remains at record highs, it's no surprise that Canadians are concerned about even the slightest change that might affect their finances.









Source: https://www.canadianrealestatemagazine.ca/market-update/canadians-are-financially-confident-says-cibc-poll-236232.aspx

Thursday, January 11, 2018

How to Know Your Roof Needs Repair

No matter the material used, a roof is an investment. Some roofing materials can last for many decades. Others will break down within several years and require replacement. Proper roof maintenance calls for regular attention to the roof, and scheduling repairs as needed. These signs help homeowners know when they need to have a professional inspect the roof and plan for repair.
Missing or Broken Shingles
One of the earliest and most obvious signs that a roof is having a difficult time is the condition of the shingles. Shingles could break, curl, or even be blown off the roof completely during a heavy windstorm. Although it may not seem like a few missing shingles is a big deal, it is important to keep in mind that the roofing protects the home structure underneath. Gaps between shingles can leak and eventually ruin the underlayment or decking under the roof. In many cases, replacing a handful of errant shingles or tiles is not a huge expense. It also helps to preserve the condition of the roof for at least a few more years. Furthermore, missing or broken shingles can really hurt your curb appeal if you're trying to sell your home anytime soon.
Leaking or Damaged Flashings
There are many components to a roof, and the flashings are pieces that help to connect joints. For example, a chimney has flashings that connect the chimney to the roof. A skylight will have flashings surrounding it to prevent leaks around the glass. Flashings are typically made of metal or plastic, and the material can affect how well it functions and its lifespan. Flashings that are worn or broken need to be replaced, or they will cause leaks. Although water dripping into a home is unpleasant, leaking water into the home’s exterior structure could cause even more serious problems.
Damaged Underlayment
The underlayment of the roof is essentially the last barrier between the elements and the decking underneath. Homeowners want to keep the roof and the underlayment in ideal condition, simply because the decking is typically made of wood and often cannot be repaired. Rotted roof decking might require replacement of the entire roof, so maintaining its condition is vital. If whatever situation that removed some shingles or tiles has also damaged the underlayment, there may be nothing protecting the exterior structure from rain, ice, and snow.
Sagging Roof
While many roof issues can be fairly minor, there are others that may demand immediate attention. A sagging roof is a good example. A sudden shift in the pitch of the roof indicates that there is a serious issue with the structure of the home. A sagging roof may have sustained long-term weather damage and be to the point of collapse. Homeowners who see this kind of problem should schedule an on-site evaluation as soon as possible.
Speak With an Expert
After an inspection and a consultation over the extent of the damage, homeowners need to decide if they want to replace the roof or have it repaired. This depends on the type of damage, any effects to the exterior structure of the home, and the lifespan of the roofing material. A roof that is only five years old might sustain repairs more readily than one that has had a good 25 years on the house. An expert can help homeowners figure out which is the ideal investment.

Repairing a roof can often mean the difference between a happy, sealed home, and one that is constantly leaking during a rainstorm. With these tips, homeowners have a better understanding of when they should arrange for roof repair. Prompt attention to roof problems can help to preserve the home’s value for years into the future.



Source: Ryan Tollefsen

Monday, January 8, 2018

Near-record sales for this Ontario market

Home sales were just 1% short of the record high in the Kitchener-Waterloo region of Ontario.

There were 6,549 homes sold during 2017 by members of Kitchener-Waterloo Association of Realtors, following the record-smashing 2016.

December sales continued the trend with 301 sales, 1% above a year earlier and 13% above the five-year average.

“There was a definite push by some buyers to purchase a home prior to the new mortgage stress test kicking in January of 2018,” noted Tony Schmidt, President of KWAR. “While we appreciate the intent of these additional changes, ultimately they will make it harder for some consumers to purchase the home they want.”

He added that the demand was strong enough to have set a new record for the year but supply issues meant that wasn’t achieved.

Schmidt said that the psychological impact of the Ontario Fair Housing Plan on buyers and sellers in the region had a greater effect than the policy itself.

“For Waterloo Region these impacts were not yet as acute as in other areas of the GGH, but we are certainly concerned that any additional restrictions will further impede consumer affordability for homes,” he concluded.









source: http://www.canadianrealestatemagazine.ca/market-update/nearrecord-sales-for-this-ontario-market-235918.aspx