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Cannabis Legalization & How It Affects Homeowners

Wednesday Oct 17th, 2018

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On October 17, 2018 cannabis was officially legalized throughout Canada. The legalization of recreational cannabis is one of the largest policy changes in Ontario as of late. Here's what you need to know: Individuals of age are permitted to possess up to 30 grams of cannabis Tougher drug-impaired driving laws including zero tolerance for young and novice drivers Up to 4 plants may be grown per household including in apartments. Note that it is per residence, not per... [read more]

Kitec Plumbing - What You Need to Know

Monday May 15th, 2017

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What is Kitec? Kitec plumbing is a type of pipe that's vulnerable to premature failure which may damage a home and result in costly repairs. It was commonly used in homes built between 1995 and 2007, and otherwise for general plumbing repairs or renovations. The Kitec system was sold under a number of different brand names and in a variety of colours. In 2005, it was recalled because the pipes and fittings were found to have a tendency to corrode quickly and can fail entirely, which can... [read more]

Ontario's New Measures To Cool Our Scorching Hot Real Estate Market

Friday May 12th, 2017

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Rental Market Currently, buildings built before 1991 were exempt from rental increase guidelines. Ontario plans to expand rent control to all private rental units, including new condos Standardized leases and other changes to the Residential Tenancies Act Multi-residential apartment buildings will be taxed at similar rates to other residential properties More funding to encourage construction of new rental apartment buildings Foreign Buyers & Real Estate... [read more]

New Tax Rules For Home Sellers 2016-2017

Tuesday Apr 04th, 2017

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If you sold your home any time from January 1, 2016 or after, you now have to declare it on your income tax return.  If your home was a primary residence, you are still exempt from capital gains taxes. Failing to report the sale could cost you up to $8,000 in penalties. This new rule is meant to reduce tax evasion and to close a loophole exploited by real estate speculators. Without a requirement to disclose the sale of a primary residence, house flippers bought and sold properties... [read more]

Landlords & Condos vs. Airbnb

Thursday Mar 23rd, 2017

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The evolution of technology has positively changed the way businesses operate as well as how we live our daily life - but it can also operate as a double-edged sword. From an owner's perspective, Airbnb can be great. Short-term rentals can be profitable each time you host but what happens when you find out your tenant is listing your condo unit without your permission? In major metropolitan cities like Toronto, it is becoming increasingly common. Each condo corporation varies in their... [read more]

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