Toronto Real Estate Board Opposes Investor Tax

“A speculation tax could primarily impact small-scale ‘mom and pop’ investors who also happen to be a key source of supply for an already tight rental market,” said TRREB president Kevin Crigger, painting a quaint picture of the investors bidding up prices in the Toronto real estate market. The average price for a home was $1,163,323 in November, with detached 416 homes averaging $1,807,983. “Experts, including TRREB, agree that policies aimed at the demand side of the market will not have any sustainable long-term benefits.”

“The best option would be for City Council to accelerate implementation of its Expanding Housing Options in Neighbourhoods initiative to facilitate a greater diversity and number of housing units in existing neighbourhoods,” says TRREB CEO John DiMichele”.

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Considering Changing Property Management Companies?

Community property management companies can assist the Home Owners Association (HOA) in finding contractors and with collection of fees and assessments, and also offer training and seminars for the HOA board and its members. They provide education about maintaining the residential areas and offer guidance on how to run an effective HOA. They can also help answer the questions HOAs have about the bylaws and local regulations that may affect them.

How do you know when your community property manager is becoming a liability? Make sure you don’t miss any of these warning signs. You always have the option to fire community managers or address the issue in some other way. Whichever the case, swift action is a must if you see any of the following.

However, in my experience, it’s time to change your management company if your property manager exhibits any of the following signs:

The following article explains in more detail how to find your best property management company: CLICK HERE.

• DOES NOT COMPLY WITH MANAGEMENT AGREEMENT;
• UNBECOMING BEHAVIOR OR OUTRIGHT DISRESPECT;
• LACK OF COMMUNICATION;
• RECEIVING FEES OR KICKBACKS FROM VENDORS;
• LACK OF FINANCIAL TRANSPARENCY.