Financial Management

HASCAP low-interest loan rollout now underway

Canadian Property Management

HASCAP low-interest loan rollout now underway

Loans of $25,000 to $1 million will be available through the Highly Affected Sectors Credit Availability Program (HASCAP), fully guaranteed by the Business Development Bank of Canada.
sustainability plan

CondoBusiness

Creating a condo sustainability plan for 2021

A sustainability plan and budget should be made with the mindset of plan and prevent, instead of react and pivot.
Ontario insolvencies drop in 2020

Canadian Property Management

Ontario extends ban on commercial evictions

Commercial evictions are still on hold in Ontario for qualifying tenants experiencing pandemic-related financial stress. A new regulation, enabled through 2020 budget legislation, extends the protections.
More electricity price adjustments for Ontario

Canadian Property Management

More electricity price adjustments for Ontario

For now, residential and small business customers enrolled for either time-of-use (TOU) rates or tiered pricing under the provincial regulated price plan will be charged the off-peak TOU rate of 8.5 cents per kilowatt-hour for all electricity consumption.
Electrical Safety Authority advised to redeploy resources

Canadian Facility Management & Design

Safety body advised to redeploy resources

Ontario’s Electrical Safety Authority (ESA) has been advised to place greater priority on the scrutiny of complex installations and adopt technologies to better support efficient, cost-effective service delivery.
COVID-19 related investment announced in fall economic statement

Canadian Property Management

COVID-19 related investment unveiled

The commercial real estate, facilities management and construction/retrofit sectors appear poised to capture a share of the spending announced in the Canadian government’s fall economic statement.
Grocery-anchored retail stands out positively among other retail investment properties

Canadian Property Management

Grocery-anchored retail deemed a best buy

Beyond stores selling essential goods, bricks-and-mortar retail is reeling from COVID-19-triggered public health controls and watching its already gaining competition grow even faster than projected.
CERS draft legislation outlines new commercial rent relief program

Canadian Property Management

CERS draft legislation awaits adoption

CERS will deliver direct rent support to qualifying tenants without the need to work though their landlords. As a direct subsidy, unlike CECRA, no loan agreement is required.
insurance

CondoBusiness

Canada’s condo insurance crisis

Impacts of the hard insurance market are trickling into condominium corporations across Canada, challenging boards and managers in their wake.
commercial evictions

Canadian Property Management

Ontario wires commercial evictions on/off switch

A proposed amendment to the Commercial Tenancies Act, included in Ontario's budget bill, would allow the Minister to impose future COVID-19-related prohibitions on commercial evictions via regulation.
Ontario budget promises to shift some locked-in hydro costs to general provincial expenditures

Canadian Property Management

Ontario to shift some locked-in hydro costs

The roughly $433-million annual allocation for the relief measure will cover a small portion of the total global adjustment, which surpassed $1 billion in every month from January to September this year.
property tax ratios lopsided against commercial ratepayers

Canadian Property Management

Property tax ratios epitomize commercial burden

The commercial property tax rate is at least double the residential rate in eight of the 11 surveyed cities, with commercial ratepayers in Montreal, Toronto and Quebec City shouldering the most disproportionate shares.
reserve fund

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.
small businesses eligible for up to $5,000 to cover COVID-19-related expenditures

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.
reserve funds

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.
Ontario promises property tax and utility cost relief in step with public health controls

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.
Throne Speech pledges to build back better from COVID-19

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.