Six factors to consider when buying a condo in Toronto

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Do you wish to purchase a condo unit? Well, most buyers just focus on the price and forget all the other factors that they should put into consideration. Price is a significant issue, but that doesn’t mean that its the only issue. Below are some of the pointers that you should put into consideration when choosing a condo unit in Toronto.

Location

When purchasing a condo unit, the location is a significant factor that should top your list. The location of a condo will significantly influence its price if you wish to sell it after purchase. For instance, condos located along the beach have always proven to be worth investing in because of the enormous returns. In simple terms, the location will determine essential issues like accessibility, convenience just to mention a few.

The reputation of the builder

gdgd6d4If you are contemplating to buy a condo that is still under construction, then the reputation of the developer matters a lot. For instance, if you pick a terrible developer then the chances are that the condo might not be completed on time. In worst cases where the condos are not completed getting back, your cash would be a challenging task.

To ensure that you will get a good deal, pick the best builder. You can visit their official website and check out what they have to offer.

Parking

Check the parking space that is available before purchasing any condo. Gone are the days when you had to part with lots of cash buying a condo unit with less or no parking space at all. Parking is essential mainly if you own more than one vehicle. For that reason, dont mind parting with more cash for a property with ample parking.

Amenities

Some condos might be expensive because of the amenities that it provides. Standard amenities include a gym, swimming pool, children’s playground just to mention a few. You must make sure that the money that you are parting with is equal to the amenities that you get in return. If many people live in the condo that you have chosen, then the chances are that you won’t enjoy using the amenities as you wish. In short, if you pick an overpopulated condo then you will experience lots of inconveniences because you will be forced to share the facilities with many people.

Service fee

When you choose to buy a condo then its worth noting that you will incur additional expense each month. For instance, you will have to part with money for hared costs incurred by all other condo owners like water used in swimming pool, electricity in common areas, wages for guards and maintenance workers and the likes. So, before choosing to purchase a condo unit you need to find out more about the service fee that you will have to part with each month.

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Rules and regulations

All condos have rules and regulations that should be followed to the latter by the buyers or tenants. For instance, some condos don’t allow the residents to keep pets or animals. And that is not all. Some also prohibit tearing down your unit or changing its color, using amenities like the swimming pool during odd hours. Know the condo rules before buying to avoid nasty surprises in the end.

Reference:

http://the1yongecondo.ca/

Management of Canadian real estate homes

There are several reasons why many people resolve to relocate from one real estate to another. One of it is that they find the management in the current real estate not good for them. In fact, one of the things that you should consider when looking for a rental home is the management. When the management of the real estate is perfect, then the chances are that everything in that home will be perfect. Here are some the characteristics that are associated with Canadian real estate management.

Professional property managers

Canadian real estate is normally characterized with professional property managers. These are people who know what is expected of them and they will, therefore, do anything at their disposal to ensure that every tenant is well taken care of. If there is a conflict amongst the tenants, there are proper mechanisms that have been put in place to ensure that the conflict is solved amicably. When everything in the estate is handled professionally, then there will be fewer issues within the estate.

Technology-oriented

Everybody will agree that we are living in a technological era. What this means is that for life to be smooth and comfortable, technology should be given the top priority. Nowadays, there are modern software that are used to manage the Canadian real estate homes. One of the advantages of this is that every process that is undertaken during the management of the estate is not only smooth but also effective. Communication is very important when it comes to the management of any property. Recording and proper storage of information is what is needed to solve problems that might arise shortly.

Handle tenants appropriately

If you set out to find out why most tenants are not satisfied with their management, you will find out that they are never handled in the right way. Professional property managers should be in a position to solve any issues however difficult they might be in an amicable manner. Discriminating against some of the tenants based on various issues including their races is something that you will never get in the Canadian.

Keeping the property in good shape

If you find a real estate where the condition of the property is not promising, then it simply means that the management of that real estate is not working properly. In fact, one of the ways you can tell on the effectiveness of the management is simply looking at the condition of the property.

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Finding the best rental apartment in Toronto

If you are thinking of relocating to Toronto, then you need to have a better understanding of the Canadian real estate in Toronto. Finding a perfect rental home is not always a simple task like some tend to presume. In fact, if you are locating to a new place where you do not know much about it, then you might find even more challenging to find a perfect place to call home. Under such situations, it is always recommendable that you seek the help of Canadian real estate agents. These are the people who can help be of great help to you.

Finding the best rentals

Consider your frequent destinations

Before you set out to find a rental home, the first important thing that you need to consider is the destinations that you will be frequenting during your stay in Canada. You want to find a home that is situated next to the places that you will be traveling to most of your time. Wasting time while driving to your destinations is something that you definitely do not want as it might waste a lot of your time and resources as well.

Your family

If you are looking for an apartment that will house both you and your family members, then you will need to ensure that the apartment can perfectly accommodate the family. Depending on the size of your pocket, you can always get a house with the number of rooms that you desire. However, if you realize that you have financial constraints, you can choose an economical room that can still house you and your family comfortably.

The cost

Another thing that you need to consider when looking for a rental home is the cost. You need to understand that there are several things that can influence the cost of a rental unit. Some of those things include the location, the number of rooms and even the estate that you choose. So before you rush to get yourself a rental apartment, it is good that you get to understand some of these things. Take time to do research and get to identify the ones that perfectly suits your needs.

Hygienic levels

You also need to ensure that the Canadian real estate homes in Toronto that you are considering to move to is clean. There should be proper and modern ways of disposing of wastes. There is nothing bad like staying in a house that does not take cleanliness seriously. The good thing is that you can know the hygienic levels of an estate by simply making observations.…

Advisory Group

Independent Advisory Group on Real Estate Regulation in BC

The independent Advisory Group, chaired by the Superintendent of Real Estate, brings together experts from across a range of public and private organizations to review the conduct requirements in place for real estate licensees in BC, and to examine whether those requirements are adequate and whether they are being effectively enforced.

About the Independent Advisory Group

On February 9, 2016, the Real Estate Council of BC initiated the creation of an independent advisory group to review the Council’s handling of licensee misconduct. BC’s Superintendent of Real Estate, Carolyn Rogers agreed to Chair the Advisory Group. On February 22, 2016, Ms. Rogers named her group members and outlined the Advisory Group’s key areas of focus.

The Advisory Group is examining the current real estate regulatory regime to determine whether it adequately protects the public interest from real estate licensee conduct that is inconsistent with the duties and standards required of licensees. The group has outlined its mandate and the scope and focus of its work in comprehensive Terms of Reference.

 

The Advisory Group will provide an interim report to the Real Estate Council by April 8, 2016, and a full report and recommendations by the end of May, 2016.

Learn more:

Terms of Reference
Independent Advisory Group named; work begins to examine real estate practices in BC
Independent Advisory Group Membership

The Superintendent of Real Estate, Carolyn Rogers, is the Chair of the independent Advisory Group.

The advisory group members are:

Howard Kushner, Barrister and Solicitor, Kushner Law Group
Don Wright, President and Chief Executive Officer, Central 1 Credit Union
Audrey T. Ho, Commissioner, British Columbia Securities Commission
Bruce D. Woolley Q.C., Stikeman Elliott
Carol Geurts, Associate Broker, Century 21 Veitch Realty, Creston BC
Tony Gioventu, Executive Director, Condominium Home Owners’ Association of B.C.
Ron Usher, General Counsel, Society of Notaries Public of British Columbia
Read more about the Independent Advisory Group members

Press Releases and Media Statements

March 15, 2016: Terms of Reference Released for Independent Advisory Group
Feb 22, 2016: Independent Advisory Group Named
Feb 9, 2016: Superintendent of Real Estate To Chair Independent Advisory Group
Feb 8, 2016: Media Statement
Links and Resources

Terms of Reference
Advisory Group Members
About the office of the Superintendent
About the Real Estate Council of BC
Your Input…