Ford Government to Revert to Old OMB Rules

by Ray Kar, May 16, 2019 The following changes will effect you, if you renovate, flip, or develop property, as all of these scenarios could involve variances to zoning or by-laws, or greater changes in order to receive approval to construct.  Typically in these scenarios you would have ended up at the OMB (now the... Continue Reading →

The Big Business of AirBnB in Toronto

by Ray Kar, April 25, 2019 According to insirdeairbnb.com there are more than 20,000 short-term rental operators in Toronto.  Approximately 13,000 of these properties are for entire homes.  Over 1700 operators operate more than one property. The Star profiles several AirBnB operators in Toronto.  These operators are as diverse as the city itself and paints... Continue Reading →

The State of AirBnB Toronto

by Ray Kar, Feb 12, 2019 FairBnB, a group initially funded by hotel workers' labour organizations that has worked with condo boards and residents' associations in the city, recently issued a report in January demanding the Province implement province-wide regulations on short-term rentals hosted by companies such as Airbnb as part of any plans to... Continue Reading →

OSFI under pressure by banks, industry lobbyists to ease mortgage stress test: sources

by Ray Kar, Feb 7, 2019 In January 2018, The Office of the Superintendent of Financial Institutions (OSFI), Canada’s main financial regulator, introduced mortgage stress testing for almost all mortgages issued by Federally regulated financial institutions.   The test requires banks to test borrowers’ ability to repay mortgages at an interest rate 200 basis points above... Continue Reading →

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