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Condos Allowing Short Term Rentals DT Core

Tuesday Oct 27th, 2020

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People who are interested in living in or investing in DT condos are often asking which building do, and which once don’t allow short term rentals. The truth is the majority of the condos don’t permit short term rentals and it is stated in their bylaws, of the buildings who are not allowing them there are some who enforce it strictly, and others that don’t. City of Toronto at the end of 2019 implemented new rules and regulations for short term rentals, there are certain... [read more]

Is The Condo Preconstruction Deposit Safe?

Saturday Mar 28th, 2020

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I have already written about condo project cancellations and there have been a number of them in the last few years. Every time a unit is purchased a deposit is made, are these funds safe? There are number of safeguards in place to protect the buyers and their deposits. Tarion offers condo deposit protection up to $20,000, but as we know most deposits would exceed this amount by a large margin. The developer of the new condominium project must be Tarion registered and must enter into... [read more]

Status Certificate 101.

Saturday Mar 7th, 2020

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The below write up concentrates on Ontario rules but some elements and principals can be applied anywhere. What is a Status Certificate. Status certificate is a document that provides essential information regarding the financial status of the unit and the condo corporation. What’s included in the Status Certificate. Financial statements, budgets, special assessments, liens, arrears, lawsuits, condo declaration, by-laws, reserve fund study, insurance policy and claims,... [read more]

Buying Resale Condominiums - Things To Consider

Saturday Jan 25th, 2020

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    I have already written a blog about buying preconstruction condos, in this blog I would like to point out certain details of purchasing a resale condominium, in some aspects buying precons and resale are the same, and differ quite a bit in others. For the most part the approach of the investor and owner occupier will be very similar as well. I will be addressing number of points, some more important than others, all worth considering. Location. This applies to... [read more]

101 of Preconstruction Condominium Buying

Sunday Oct 27th, 2019

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You are thinking of buying a preconstruction condominium, you hear people talking about making a fortune by buying them and you want the piece of the pie. Facebook is full of advertisements for new launches and the graphics look spectacular, so you decide to wait for the next official opening to go in without an agent because you know what you want, right? In this blog I will try to explain as much as possible (and the topic is extensive) about the process and key factors when buying a... [read more]

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