REAL ESTATE INSIDER: OCTOBER 2020
Posted on October 22nd 2020 by Lalovich
Real Estate Insiders: have we got some treats for you! The pandemic has brought its share of tricks to the world of real estate, so we’ve compiled a list of articles covering what we think are the most important. Rental properties, tax season prep work, how to keep your tenants happy, and more informative topics await your eyes. Enjoy!
Rural vs Urban Living
Did the spring shutdown have you rethinking which direction to head on your next move? If it has you considering rural communities over urban towns then you’re not alone! Whether it’s price, space, or lifestyle you’re after, many people are choosing to ditch the hustle and bustle of city cores for the laid back, affordable areas outside of major cities. Is this trend is here to stay?
Movin’ On Up
It’s a good thing the average lifespan is increasing—so is the average age of homeownership! Get yourself a home sooner with advice on how to beat the average and read why the average age continues to rise.
Watch out: this blogger is talking about taxing capital gains on primary residences! The best part? He actually makes some valid points! After reading this article, all struggling first time homebuyers just might have some second thoughts. Would you be ok with a home equity tax?
Is It Really A Good Idea?
If you’ve ever considered a rent-to-own property, this is the article for you. Learn what it is, why people do it, and why it might not be as easy as it seems.
Missing the floral shirts? If the cold weather usually has you heading down to the Sunshine State, then this article is for you. What should Canadians with properties in the U.S. do while being unable to cross the border? Read here to get your options!
Amidst the pandemic, the government needs to do more in the way of helping everyday Canadians get back on the feet. A new bill could be a good start! The Ontario Real Estate Association (OREA) has pitched a land transfer tax “holiday” and other growth friendly policies to stimulate recovery. Read more about it here—let’s get the ball rolling!
Ontario is implementing a rental increase “freeze” for 2021. Rents cannot be raised more than 1.5% in an effort to help struggling Canadians get back on their feet. Read more about why this is a good temporary measure while they work to upgrade the Canada Emergency Commercial Rent Assistance.
Taxing & Relaxing
If this pandemic has forced you to work from home, you probably have some questions about your upcoming tax season. Read here to see what you can and cannot write off now that you’re working from home
Feeling tempted to set up a corporation to buy additional properties? Beware high taxes and annual costs that might make it detrimental to your portfolio’s success. Make sure you know all the ins and outs before you move forward with setting up your corporation—the best place to start is right here!
Cherries On Top
“The days of the student ghetto are over.” This blogger believes the pandemic won’t hurt the student rental market for investors who supply their renters with nice, clean units. Will it only increase the demand for high quality student rentals? Those who offer options where distancing and isolation are possible might come out better than before.
A disturbing trend is plaguing the Toronto real estate market. Buyers are failing to deliver deposit cheques after their offers get accepted! This leaves the Seller in an awkward and—more often than not—losing position. Read why this trend is on the rise and how this realtor proposes to stop it.
Read here for tips on how renovating your cottage could reduce the capital gains tax you have to pay down the road.