Financial Management
CondoBusiness
Reserve fund budgeting: A fan coil unit retrofit
One of the most under addressed issues in aging condos is the fan coil unit. Residents often take an “out of sight, out of mind” approach.
Canadian Facility Management & Design
New grants for COVID-19-related expenditures
Small business operators could receive up to $5,000 to be used for physical modifications to comply with public health requirements, PPE or upgrading digital/e-commerce capabilities.
CondoBusiness
How is COVID-19 impacting reserve funds?
Many reserve fund projects have not been able to proceed this year. Even now as construction has “opened up,” contractors have backlogs that will allow them to complete only some of the previously planned projects.
Canadian Property Management
Ontario to defray costs of public health controls
Further details are promised soon on a $300-million fund to help defray property tax and utility costs for businesses forced to curtail or shut down operations due to COVID-19 concerns.
Canadian Property Management
Throne Speech pledges to build back better
Infrastructure investment and climate risk mitigation are key to the Canadian government’s goal to create one million jobs and rebound from the economic slump of COVID-19.
CondoBusiness
Budgeting the unknown amid a pandemic
Condo corporations are facing new budgeting challenges in 2020. Planning for unexpected and increasing expenses is difficult to anticipate.
Canadian Property Management
Ontario capital markets set for rule revamp
Proposals address a range of issues that are likely to be of interest to listed real estate entities and their investors, as well as start-up ventures and other publicly traded service providers to the industry.
Canadian Property Management
Stop-gap September CECRA coverage offered
Canada Emergency Commercial Rent Assistance will be offered for a sixth month. The announcement comes eight days after the portal for new applications for the relief program appeared to be closed.
CondoBusiness
A condo tax refresher
Although condo corporations in Canada are non-profit, there are still tax implications and annual filings that are often overlooked.
CondoBusiness
Ontario Electricity Rebate applied unevenly
Many hydro accounts specifically tied to the common areas of multi-residential buildings will no longer qualify for the 31.8 per cent rebate beginning in November 2020.
Canadian Property Management
Feds suggest CECRA sets Canada apart from peers
About $221 million in Canada Emergency Commercial Rent Assistance had been disbursed as of July 3, Finance Minister Bill Morneau reported in the 2020 Economic and Fiscal Snapshot he released today.
CondoBusiness
Accommodation costs unnerve younger households
Financial uncertainty related to COVID-19 appears to be weighing more heavily on younger households than other homeowners and renters.
Canadian Property Management
Ontario to amend Commercial Tenancies Act
Following similar actions in B.C. and Alberta, the Ontario government will temporarily halt evictions of tenants eligible for Canada Emergency Commercial Rent Assistance (CECRA).
Canadian Property Management
Commercial landlords decry blame shifting
REALPAC characterizes the landlord-tenant dynamic as a chain of economic stress, with many commercial landlords likewise suffering a drop in revenue and financially beholden to their lenders.
REMI Network
B.C. invokes terms for CECRA-eligible landlords
The move is in step with one of three recommendations the Canadian Federation of Independent Business is promoting to support businesses dealing with COVID-19-triggered financial stress.
Canadian Property Management
CECRA applicants urged to prepare documentation
Potential participants can begin to prepare ahead of registration opening next week, following instructions that have been posted on Canada Mortgage and Housing Corporation’s website.
REMI Network
Think tank offers blueprint to guide housing market policies
A new report provides a blueprint for policymakers and regulators in the housing market to address threats to financial stability.
