Toronto Foreclosure

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Pi Beta Phi TAAC at Gatsby Garden Party

Pi Beta Phi TAAC at Gatsby Garden Party
Join TAAC for a real throw back, as we attend the annual Spadina Museum Gatsby Garden Party. The event features live music, 1920s costumes, and fantastic themed food and drinks. With dancing, a photo booth and blast from the past to 1920s high glamour and fashion, this event is sure to be the highlight of the season. RSVP with TAAC via eventbrite to confirm your attendance. Pi Phis are asked to purchase their own tickets to ensure you get them while there are still around. Ticket sales open May 9th and historically sell out very quickly!. Please see ticket link here: https://www.facebook.com/events/1077531209019454/.  For information about the Garden Party, please see below:  The annual Gatsby Garden Party has returned for another two day extravaganza. *Saturday June 24: 12pm-5pm*Sunday June 25: 12pm-5pmStep back in time with us for a summer day of 1920s music and fun on the luxurious grounds of Spadina Museum!TICKETS WILL GO ON SALE MAY 9th. Ticket link will be posted on this page.LIVE MUSICThis year we are thrilled to present "The Wintergarten Orchestra" and "Ben Harvey and his Ornamentals". Keith, our Gramophone Guy, will be on site to showcase 1920s music players and spread the music. DANCINGA dance floor will be located on the South Lawn for those of you who want to shake your tail feathers. CROQUET Try your hand at the popular croquet game on the East Lawn. "The Toronto Cricket, Skating, and Curling Club" and "The Lawrence Park Lawn Bowling Club" will be on hand to show you how it's done.  COSTUME CONTEST The ever popular costume contest is back again! Judges will be choosing the best dressed and prized will be awarded. More costume contest details will be coming soon. MUSEUMFor an extra $5 when you buy your day tickets you can explore the historic 1920s mansion on a guided tour.PHOTO BOOTHThere will be two photo booths this year. Mugshots will be returning at the Garage, and we will also be hosting a Canada 150 Photo Booth where you can participate in a photo project about what Canada means to you.FOODDelicious refreshments will be available for purchase, including a signature drink made especially for the day by Kinsip House of Spirits.PICNIC Please feel free to bring a picnic! Lay out under our lush trees, enjoy the sunshine and music, and have a swell time!TICKETSTickets will only be sold online, beginning MAY 9th. Ticket link will be posted on this page. Prices: $10.00+tax per day and $5.00+tax for a guided house tourFine Print: Limit of 6 tickets per order. Please note that the interior of the house can only be seen by guided tour. Tour tickets are limited and are only available after purchase of a day ticket. Museum Arts Passes or any discounted admissions are not accepted this weekend.
starting on 2017-06-25 12:00:00

Address:
Spadina Museum
285 Spadina Rd
M5R 2V5 Toronto
Canada

Houses In Toronto Enjoy luxurious life so buy Condominiums in Toronto

Investing on real-estate is indeed an exciting thing. If you are planning to buy property, going in for Condos in Toronto is surely a great decision. For a luxurious living, it is a smart investment as when you buy Condos in Toronto, you get many amazing facilities. Most of the condos for sale are affordable, beautiful and decked with facilities which you do not get in individual apartments or small family houses. If you are planning to buy condominiums In Toronto you should take care of some simple yet important things. Doing some research and analysis on the real estate market will for sure help you in taking the decision. So before you finalize the dream home for yourself, check out some important stuff.

Here’s a list of things you should take care of before you buy Condos in Toronto. So read on and make your investment a great one:

Cost of the Condos for Sale – There are many condos available these days. The most important thing to consider is your budget. According to your budget you should look for the condos in Toronto and decide upon the one you like the most. Make sure not to exceed your budget. It is always better to check the price first to avoid any embarrassments in future.

Down Payment – This is related to the total cost of the property. If you want to buy Condominiums in Toronto check the down payment. The more you pay as down payment, the less will be the interest on the installments

Location of the condo- It is another important factor you should consider before you make an investment and buy Condos in Toronto. If the condos for sale is far away from your work place or school of your kids, the cost of transportation will make a hole in your wallet. Before you look for new condos Toronto, you should check the location. Also check if it is near the shopping areas, hospitals, schools etc. So that there is no hassle if you want to go out.

The amenities offered by the condos in Toronto: Before you make an investment, you should know the amenities offered by new condos Toronto. Always compare two or three condos for sale so that you are taking a good decision. Most of the condos in Toronto have facilities like gym, community halls, fully decked bathrooms, parking areas, swimming pools etc. So, ask your real estate agent for the facilities.

Are you searching for New Condos Toronto but not finding best suitable condos in your budget. Get the help of highly qualified team of Jeevan Punni team to know about Condos in Toronto.

Having a property in one of the wonderful city like Toronto is similar to a fantasy showing up. Everybody needs to proceed with a rich life and have immaculate cushions or property in the prime extents. Toronto offers lavish life styles, nourishment, rich society and distraction. There different eminent space suites available to be purchased accessible at to an extraordinary degree sensible rates. There are such a considerable number of marvelously laid out and grouped sorts’ flat suites in Toronto. One need to do a bit of examination and look at the arrangement of region executors who are specialists and pleasantly accomplished individuals in the business.

The territory chairman associates and heading you about the most recent new townhouses meanders that are heading up. They are taught with market so they know where the level suites open to be purchased are accessible. They help you to get the property inside plan. There are such endless space suites open with all the business districts that one always chase down. It is essential to know your budgetary organize before you purchase townhouses in Toronto. It is ceaselessly reasonable to check the expense of the townhouses before you development further to stay a long way from any humiliating circumstance. The manager helps you in pleasing you the right cost of the townhouses before you buy.

Reach acknowledge to an incredible degree major part while purchasing condos in Toronto. On the off chance that you are setting holdings into gaining a house you have to check its domain in light of the fact that a great package of the times the townhouses available to be purchased extent is a long way from your work put and in addition from schools. This will fuse additional hindrance your wallet. Before picking the condos Toronto, you have to check the zone. Separated from that you besides need to check unique work puts that are adjacent like private repairing business locales, shopping areas, rule work places etc.

It is incredibly essential for you to make an approach of unprecedented chairmen or handle that are accessible. Look at three four townhouses open to be obtained before you continue going it. In case you are abominable in completing up the blueprint then it generally fitting to take the help of the range executive as they will help you partially uncommon and worthwhile arrangements. Most the apartment suite suites in Toronto unite work spots like neighborhood get-together door, auto stopping areas, delight center, stops and fundamentally more. That is impulse driving why it is bearing to take heading for the range expert before you purchase loft suites in Toronto.

Are you pursuing downtown houses in Toronto however not uncovering best suitable space suites in your financial course of action. Purchase Condominiums in Toronto with the help of particularly qualified social occasion of Jeevan Punni cluster.

If you are looking for Condos For Sale
in Toronto then you can visit Buy Condominiums In Toronto and take the help of best expert team of Jeevan Punni.

Toronto Houses Blazers Mixer Ft. DJ Millhouse

Blazers Mixer Ft. DJ Millhouse
Every Wednesday Toronto's best up and coming bar talent throwdown to make the best cocktails in the city.

DJ Millhouse will keep your head bouncin' all night with the best of Indie, Dance, Deep House, Alternative with a touch of Hip Hop!
starting on 2017-06-14 19:00:00

Address:
College Street Bar
574 College Street
Toronto
CanadaThe Boxcar Boys

The Boxcar Boys deliver a veritable gumbo of wild gypsy, Dixieland jazz, Klezmer, and folk music performed with a good time New Orleans spirit. The Boxcar Boys are the combined forces of clarinetist and tunesmith John David Williams (Jaron Freeman-Fox and the Opposite of Everything, The Roofhoppers), jazz master Karl Silveira on trombone (The Lemon Bucket Orkestra), violin whiz Laura C. Bates (Trent Severn, Del Bel) soulful accordionist Ronen Segall and JUNO nominee Rob Teehan (Heavyweights Brass Band, Saidah Baba Talibah) on sousaphone.With their first album Dont Be Blue [2011] they caught the ears of critics across the country, placing on the Ejazznews list of Best Canadian Jazz of 2011, receiving 3.5/4 stars in the Toronto Star, as well as praise in Wholenote, and Canadian Folk Music magazines.Their new album Rye Whiskey further explores their unique instrumentation as they delve deeper into both the jazz and folk genres. These 15 live-off-the-floor studio tracks showcase the band's raw acoustic sound and lively performances. Their ability to effortlessly switch from a gritty sprawling blues into a tight western swing number or an emotive tango is demonstrated in compositions by all band members. Rye Whiskey also features charming vocal renditions of folk classics Sam Hall, Rye Whiskey, and Freight Train, a joyous instrumental performance of You Are My Sunshine, and a sentimental lullaby written by composer Joe Ernewein. The band is joined by bluegrass mandolin virtuoso Adrian Gross (Slocan Ramblers) on several tracks. Rye Whiskey captures The Boxcar Boys at their finest, musicians with appreciation for old jazz and folk music who have honed a sound that is undoubtedly their own.Bandleader John David Williams reflects, We had so much fun in the studio, and this comes across on the album. Rye Whiskey really captures the spirit of our live performances. Its a celebration; musicians at play.The Boxcar Boys have preformed at The Beaches Jazz Festival, The TD Jazz Festival, the Scotiabank Marathon, Scotiabank Buskerfest, Blissfest Festival (Harbor Springs, Michigan), Rogers Tennis Cup 2012, Northern Lights Festival (Sudbury), Blue Skies Festival (Clarendon), Savour Stratford (Stratford). Previous clients of the Boxcar Boys have included The Cambridge Club, The Metropolitan Toronto Convention Centre, Ontario Place, SOCAN, and countless private parties, birthdays, garden parties, house concerts, weddings and bar mitzvahs.
starting on 2017-06-17 15:00:00

Address:
C’est What
67 Front St
M5E 1B5 Toronto
Canada

Houses In Toronto ENJOY YOUR STAY IN TORONTO WITH SCAN CANADA

We all love to travel to a new place around new people be it for work, studies or vacations and Canada is one such place which is worth spending time and money on. Canada being the World’s second largest country in the world and in a year, around 35 million tourists visit Canada. Canada has a number of famous places to visit and enjoy it rich culture, nature, adventure, sightseeing and other kind of activities. Some of the famous places you can go visit are: Art gallery of Ontario, CN tower, Central Business District, Niagara Falls, Fraser Valley, Downtown and so forth.

However, a new place also brings with it a feeling of being an odd one out in amongst the same race of people especially when you’re alone. Thus, the place you’re lodging in makes a huge impact on you your image about the place and people so, what one needs to do it choose the best place to stay where one can get all the facilities one can avail to. Moreover, with such a large number of people travelling to Canada every year, to avail a cheap but quality hotel would be almost impossible. However what on can easily do is rent a room on rent according to one’s need. Thus, these kinds of guest housing facilities are provided by a famous company called the “Scan Canada” guest house. Nothing can be better than staying in a condo which one can rent and is also not a burden on the pocket.

Moreover, Scan Canada keeps in mind the taste of their customers and as per one’s taste one can choose their required suite and depending on their convenience they can either choose to pay the rent on a daily, weekly or monthly basis. Apart from all this, they are way ahead then all the other companies by their customers with pick up facilities from the airport and even a guide to the city. This becomes so much easier for new people in the country.

Once you are done with your booking, your suite is provided with the following accommodations:

* High Speed Internet
* Television
* Washer and Dryer
* Iron and Iron Board
* Hair Dryer
* Fully furnished kitchen

Therefore, Scan Canada Guest House provides best housing facilities all over the world with their centre in Toronto. Your condo would just be minutes away from public transportation and nearby shopping centres. Moreover, if you are to settle down in Toronto they even help you apply for Social Insurance Number and Health Insurance Plans like OHIP. Thus, in short they help you settle down in Toronto. Thus you can stay and enjoy as long as you want in Canada and enjoy its rich heritage and culture without having to worry about spend unthinkable amount on hotels and guest houses. To be brief, Scan Canada is awesome when it comes to availing affordable yet quality condos for their customers and since they are so concerned about the satisfaction of their customers, they have numerous customers who always stay at their guest houses whenever they happen to be visiting Canada.

The Author is an experienced writer and he has written many articles on traveling and hoteling.He wants to share his views about traveling related topics like to Guest house in Canada,Guest house canada,Guest house in toronto,Affordable room for rent in Canada,House for rent in canada and get benefited.

Toronto Real Estate Market Exploring Opportunities In The Real Estate Market

The real estate market has a lot of prospects for new and experienced investors. It provides a wide range of opportunities for individuals who are ready to invest. No mater the type of building that you are interested in, you will find something that will suit your taste in any location you wish.

Real estate in this area has experienced a lot of activity in recent times. The increased activity in the market is due to a couple of reasons. Most people who buy properties do so in order to take advantage of the good prices and rates that are available. A booming city has maintained a steady growth in this industry which has witnessed a lot of downturn in several parts of the world.

Foreign investors continue to take positions in the real estate market because of the great potential that it has. The market has shown a high level of stability and establishment. The massive influx of foreign investment is moving the market into a higher level of recognition around the world.

The social tolerance that exists in Canada is one of the factors responsible for this foreign investment trend. It is has been consistently ranked as one of the best places to live in the world. It is a society that has very low levels of discrimination in all areas of social interaction. Canadians are generally known for their welcoming nature. This culture has attracted people from as far away as Russia, Greece and several Asian countries.

Real estate has become very popular in North America. You can decide to invest in commercial property or buy a new condo. You might also want to check out some of the beautiful family houses that are available. If you decide to purchase a home, you will be living in a city that has excellent facilities and amenities.

This city has witnessed a population growth of more than one million in the past ten years. This influx is largely due to the foreign investment and low interest rates. The continuous movement of more people into the city creates a need for the development of more housing units. The housing market has been growing rapidly as investors try to meet increasing demands.

The existing housing market is experiencing a lot of action and the demand for new condos is also on the increase. Condos for sale are very attractive to a lot of individual investors. Most first time buyers are encouraged to start their venture into real estate by buying a condo. People who have limited funds find it easier to enter the market by purchasing condos.

The real estate is also attractive because of the quality and the design of the buildings. The high-tech approach to property development produces buildings that are comparable to those that are found in the best places in the world. This has been achieved by the combination of local and foreign investment. Investors can also take advantage of the different types of incentives that are provided by the government.

Find condos for sale in Toronto that meet your requirements by checking out Toronto real estate listings where in you can discover various properties available

There are plenty of steps that should be taken when tapping into the real estate market. Individuals who are unfamiliar with the process should employ every tool available so that they can locate the very best deal. The market is constantly fluctuating, which means that individuals must plan and act quickly before the top deal is taken right out from under them. Look into this particular guide, and see how easy the entire process can be, even for the first time buyers.

When it comes to real estate, there are options for both residential and business properties. Individuals who are currently looking into the market will need to determine what type of property they want to invest in. In most cases, people are shopping around trying to find houses for sale to buy and there are plenty of options to look into. Take the time to consider some of the options, and move onto the next step.

Each property is going to come with a number of different features. Buyers will be responsible for thinking about what they want to come within the location, and should make a simple list to keep track. It is important to keep in mind, that a single place might not come with all of the features wanted, so try to find something that meets in the middle.

After the list has been created, take the time to look into the amount of money that is currently available. Most of the buyers out there already have a certain amount of money set aside for this purchase. Come up with a buying budget, and be sure to stick to that for the best results. If the place purchased is simply too expensive, the individual could be faced with foreclosure.

In most cases, special financing is required to take care of the rest of the costs. The new buyers will provide the actual down payment, while the lender will put up the higher amount of money. Buyers will need to take time to talk with different lenders to find out about the rates offered, as well as the monthly payments.

Shopping around for properties can easily be done right from the buyers own home. Most of the time, people will tap into real estate listings that offer full color pictures and even videos. This type of help will certainly help the buyer save time, and pinpoint which neighborhoods currently have the most affordable homes on the market.

Buyers who are stuck, and do not know where to turn may want to seek help from a professional. Professional real estate firms are everywhere, and house some of the top representatives out there. Buyers will need to take a bit of time to talk with different firms, and make appointments with professionals that have a clear schedule.

Investing in real estate does not always have to be such a challenge. There are plenty of different ways to find the perfect property, and those who save and plan wisely will be able to get the very best deal. Browse the market as soon as possible and find a few houses to put a bid or two on.

If you want to search for houses for sale in Toronto, do make sure to get access to Toronto real estate listings where. in you can find a variety of properties available.

Homes In Toronto How much do you think a house on Toronto Islands costs?

How much do you think a house on Toronto Islands costs?

Dina and Kevin talk about the houses on the Toronto Islands for National Real Estate Day.

Emery Homes – Model Home and Decor Centre – Toronto Video Production

Video Produced by Unikron Studios

Starter Homes in Toronto’s East End | www.torontorealtyblog.com

Starter Homes in Toronto’s East End | www.torontorealtyblog.com

I get a lot of questions about “starter homes” in Toronto, and exactly what that entails in 2014. I also get a lot of buyers who come to me with a pre-determined budget and ask, “Can I actually get a HOUSE for that amount?”

It all depends…

I’m of the opinion that most of the starter homes in Toronto these days are on the east side, and while there are some smaller semi-detached, 2-bedroom homes in Bloor West Village (think Priscilla Ave, for example), most of the starter homes I’m showing today are clustered around Danforth Avenue.

Finding a house under $500,000 these days is difficult, but finding a house under $500,000 that actually SELLS for under $500,000 is damn near impossible.

I usually tell my new buyers, “You have to start around $600K.”

Today, we’ll look at five houses currently available for sale, ranging in list-price from $499,900 to $599,900. But what they sell for in the end is an entirely different story.

1) 33 Roseheath Ave | $499,900
2) 65 Bastedo Ave | $529,000
3) 237 Leslie St | $579,000
4) 30 Walpole Ave| $599,900
5) 689 Rhodes Ave | $599,900

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About the author:
David Fleming is a Top Realtor with Bosley Real Estate in Toronto, Ontario, Canada. He created www.torontorealtyblog.com in 2007 to share his experiences and insights as a realtor and it has since become one of the most popular Real Estate blogs in Toronto and across Canada. David is a regular guest on televisions, radio and news networks and writes a regular column on www.thegridto.com

Custom Homes in Toronto

For over 30 years, RS Homes has been one of the leading custom home builders in Toronto and the Greater Toronto Area (GTA). A professional “one-stop-shop”, RS Homes’ fully managed services include real estate, design, planning, demolition, and construction for new custom and luxury homes, as well as major renovations, additions and exterior remodelling. RS Homes’ projects vary in size – from condos, semis, and town houses to detached single family homes. They can be found in the down town core, North York, Richmond Hill, Markham, Vaughan, Etobicoke, Mississauga, Newmarket, King City, Aurora, Bolton, Caledon, Stouffville and more.
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Toronto Property 15 McMurrich Street, Unit 310, Toronto – Property Film

15 McMurrich Street, Unit 310, Toronto – Property Film

An exquisite top-to-bottom transformation by Estee Design, this two-storey Yorkville condo with two bedrooms, three bathrooms, office and two terraces has been completely renovated to the highest of contemporary standards and with luxurious finishes.

On the first floor of the unit, the dream kitchen was created by removing walls and reconfiguring the layout to allow for a more open design. The kitchen features custom cabinets with soft-closing hardware and plenty of storage, Nuvolato Grigio marble counters, Blanco double bowl under-mount granite composite sink with Blanco Posh faucet, plus a superb combination of contemporary wood-paneled walls and backsplash of whimsical hand-painted Italian tile. The new island that opens to the dining area is topped with Caesarstone and boasts Beat Lighting by Tom Dixon overhead.

The finishing touches in the kitchen include a wall-mounted pot-filler faucet above the cooktop, a swiveling wall-mounted TV, and wall-mounted herb garden for fresh seasoning. The high-end appliances consist of a Fisher & Paykel counter-depth fridge with bottom freezer, ice-maker and water dispenser; Fulgor ceramic cooktop with European-style stainless steel hood vent; Fulgor 30” convection wall oven; Panasonic microwave with trim kit; Bloomberg dishwasher; and Scholtes built-in coffee system with water supply.

The living room boasts a wood-burning fireplace and a new TV wall with built-in storage, completed by LED pot lights. The dining room features a beautiful chrome and glass lantern chandelier, a wall of built-in storage cabinets and display shelves, with a walk-out to the first of two terraces.

On the second floor of the unit, the master bedroom layout has been reconfigured to enlarge the custom walk-in closet that now includes a make-up desk. The second terrace is accessed via the master bedroom. The spa-inspired ensuite bathroom consists of a six-foot acrylic soaker tub, oak cabinets and panels, marble counters, large medicine cabinet, ambient lighting options, and heated floors.

The original second bedroom has been divided into two separate rooms, divided by sliding pocket doors to better optimize the space that now makes room for a good-sized bedroom in tandem with an equally good-sized home office or den. The office has two big built-in closets and a built-in office desk with shelves. The laundry area has a new Whirlpool Energy Star front-loading, stacked washer and dryer, and is finished with white ceramic tiles, a smart shelving unit, counter for folding and baskets for storage.

The list of extensive improvements also includes: European white oak engineered hardwood floors from Torlys with cork underlay throughout; tile floors in the bathrooms; 100% wool runner from ELTE on the stairs; smooth ceilings with new pot lights, track lighting and hanging fixtures, solid core interior doors with laminated white glass and high-end polished chrome egg-shaped doorknobs; new solid wood 5~1/2” baseboard and 3” door trim sprayed with low VOC high gloss paint from Benjamin Moore; and all walls have been either primed and painted with two coats of low VOC paint from the Benjamin Moore Aura collection or tastefully appointed with stylish wallpaper.

The unit also has two terraces with new outdoor flooring, two parking spaces (tandem) and locker. Amenities of the building include 24-hour concierge, visitor parking, rooftop deck, exercise room and party room. Situated near Yonge and Davenport, 15 McMurrich Street is an exclusive boutique building in a highly desirable location, with a high ratio of owner-occupancy. It’s just steps to the Rosedale and Yonge & Bloor TTC subway stations, not to mention all of the world-class shopping, cafes, restaurants and nightlife for which Yorkville is famous. And with a Walk Score of 98, this building has the best of what urban living in Toronto has to offer.

64 Arlington Avenue, Toronto – Property Film

A magnificent back-to-the-bricks renovation by LionFish Developments, this 4 bedroom and 4 bath Wychwood home embodies up-to-the-minute contemporary design and the finest of finishes. Designer touches abound, including lighting by Artemide, Flos, Verner Panton and Iacoli & McAllister, plus Robert Allen linen drapery, Missoni carpet runners, Patricia Urquiola tiles in the powder room and foyer, and hip wallpaper in the bedrooms.

The main floor features a fully open concept layout that is perfect both for entertaining and for family living. The Aya custom kitchen has a centre island with Lee Broom crystal bulb pendants overhead, counters topped with Caeserstone quartz and backsplash of Caesarstone Calacatta Nuvo. The high-end appliances include a Wolf stove, Fisher & Paykel fridge, Bosch dishwasher and Panasonic microwave. Walk out through the Marvin sliding doors to a large wood deck, hardscaped walkway and driveway.

The living room boasts the Red Dot Award-winning Norwegian Jotul freestanding gas fireplace, viewable from three sides. The dining room’s Big Bang chandelier by Foscarini provides a burst of exuberant personality. There is even a main floor powder room with sliding door and backlit mirror.

The master bedroom comes complete with a full wall of custom built-in closets and drawers, second storey balcony and spa-inspired marble ensuite bathroom. Both of the other bedrooms on the second floor are a good size with closets and potlights, and the third floor teenager retreat has a three-piece ensuite bathroom.

The front and back yards are professionally landscaped, and the property has more than ample parking via laneway access to the private drive for one or more cars, plus a renovated garage. It’s just steps to Wychwood Barns, Hillcrest Park, TTC streetcar route #512 and bus route #126, plus the shops, restaurants, cafes and all that the rejuvenated St. Clair West neighbourhood has to offer.

The extensive list of upgrades also includes new doors and windows, including Ridley front door and Marvin sliding doors; new soffits, gutters and downspouts; Iko Cambridge asphalt shingles and cedar shakes; smoked white oak floors throughout; and heated bathroom floors. The new systems are comprised of a Navien Combi Boiler with hot water on demand, Purmo radiators, three ductless air conditioning units, all new plumbing done with permits and all new electrical wiring with an ESA certificate.

Toronto Real Estate Market GTA real estate agents notice turn in housing market

GTA real estate agents notice turn in housing market

Reporter Cristina Howorun talks to real estate agents who say there’s been a shift since the Ontario Liberals announced their plan to cool the GTA housing market. Prices in some neighbourhoods have dropped and bidding wars have eased.

Is Toronto’s real estate marking cooling?

Realtor says ‘a lot of buyers are pulling back because they think the market might fall’ To read more: http://cbc.ca/1.4096043

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Toronto Property High Residential Leasing Commissions in Toronto restrict the growth of the industry.

The Clear Case Against High Leasing Charges of One Month’s

Toronto is famous not only for very expensive real estate but also for incredibly high leasing and property management fees. Compared to the West Coast for example, leasing fees are double and property management fees are at least 30% higher on average.

We decided to take a closer look at this phenomenon and examine the state of the Property Management industry in general. Considering that in the past 2 years nearly 50,000 condos were completed (and mainly sold) in the GTA, and at least 3 major property management companies brought its business to the city, the property management industry is bound to change quickly.

Before we examine Toronto rental property management firms, it is worth taking a look at Vancouver where the so called “Condo Culture” has taken deep roots- well in advance of the Toronto’s condo boom. The foreign investment has fuelled the construction of thousands of units in the past years and that resulted in a major supply to the rental market. This translated into plenty of new business for the property managers. This formula stands behind the many property management companies currently thriving in Vancouver.

So if there are comparable numbers of condos being built in Toronto, why is the industry so under-developed with a handful of management companies in place and very few agents competing for the business. The answer to that ought to be sought in the real estate industry which customarily engages in both sales and leasing of rental properties. With over 40,000 realtors on hand in the GTA, not every single one of them is a top producer and leasing with its high fees seems like the next best way to make a living. And even the Top Producers do not have too many reliable options where to send their clients.

Realtors who by definition are programmed to chase fat commissions from sales will not work for
“free” hence the high price tag on tenant placement service. The average tenancy in Canada is estimated to be 11 months and the percentage representation of one month’s rent is no more and no less than 9% of the total rental income. Lets look at that expense from the perspective of an investor:

With a mortgage of about 300K (on 100K down) the payment is about 1200 per month. Then there are condo fees, taxes, insurance and the “rainy day fund” for when the dishwasher kicks the bucket. We are nearing the $ 1,800 in monthly costs. Assuming that the property can rent for $ 1800 per month-unfurnished), one is able to break perfectly even. The leasing fee of one months rent ,however, is exactly $ 2023 with taxes or $ 169 per month which represents the monthly loss on the property. It is worth noting that no ongoing management is included in the leasing fee and out-of-town investors will likely spend another 10% on the administration of the lease, unless they take the big gamble and attempt to do it themselves.

Therefore it is no surprise that those who can’t afford to carry a loss on their investment will not use a realtor and instead rent the property themselves. Until now there was no clear third option in form of a specialized property management company who due to volume is able and willing to slash leasing costs by half when compared with those of realtors. While a couple of older property management companies are trying to cash in on the same pricing as realtors, the newer ones adjusted their prices already seeing a great opportunity in expanding their services to those who are turned off by realtors’ high fees. And the market is huge indeed.

In summary, expect fees for leasing and property management to be reduced in the future and it is fair to say that realtors will eventually go back to selling properties as smaller leasing fees will require a highly specialize operation for which realtors have neither the time or incentive.

Martin Schoenberg of Toronto Luxury Rentals