Buildings for Sale in Toronto

Toronto’s new by-law for Apartment Buildings

The city of Toronto introduced new by-laws yesterday for apartment buildings where apartment buildings with more than 10 units will be required to be registered and licensed with the city of Toronto.  Here are the main details of the by-law for your review:

  • Yearly registration of rental buildings with 3 or more storey and 10 or more units
  • Annual registration includes details regarding building owner and manager as well as their contact information
  • Annual registration fee of $10.60 per unit
  • Each Building must have tenant request process
  • Urgent requests require a response within 24 hours
  • Non-urgent requests require a response within 7 days
  • Pest Management Program and details are required
  • New set of “administrative cost recovery’ fees including a flat fee of $1800 if a full building audit is required.

While this is just another cash grab for the city, there are some good services that will help neighbors get rid of absent landlords and slumlord too.  I don’t like the fact that this is all going to cost the owners more money as the city is downloading all their responsibility onto the owner and tenants.

What the politician writing these laws are failing to realize that the deterioration of our rental assets is in part because we don’t have enough units available to be rented.  The units that are in good condition are also in higher demand and some owners just can’t justify spending extra money due to the rents that are being collected.  Further, there haven’t been many new buildings added to our rental pool causing lower than 1% vacancy in the city and having schemes such as these implemented allow the politicians to pander to the tenant base for votes.

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36 Unit building for sale in Hamilton

I just posted a 32 Residential, 4 Commercial Building for Sale in Hamilton in our Properties tab.  You can find more information and video on the property here

If you would like more information or to schedule a visit, please reach out as soon as possible.

First and Exclusive Access to Toronto’s newest project: Time and Space Condos

If you have been thinking of purchasing or investing in downtown – you do not want to miss out on this opportunity. Introducing Time & Space Condos located at the corner of Front & Sherbourne in the St. Lawrence neighbourhood.

Why Time and Space Condos?

  • With a 99 Walk Score, 100 Transit Score – Time & Space Condos are perfectly situated to everything you will need. You are in close proximity to the Gardiner Expressway, George Brown College, The Distillery District, Toronto’s Waterfront, Toronto’s Business & Entertainment Districts and more.
  • Building 1 of 4 in a Master Planned Community with over 1400 suites in the highly coveted St. Lawrence Neighbourhood.
  • Extended Depos… READ MORE
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