Do you need the services of an Independent Fire Code Inspector?

Tips to getting your possible non-compliant properties inspected by an independent fire code inspector

Today most Fire Departments are taking non-compliant cases straight to prosecution.

Compliance is now expected and failure to comply can result in fines and prison terms.

Last year the Office of The Fire Marshal starting promoting a Zero Tolerance Policy.

They are now putting on courses for fire department personal entitled "Walk Your Talk To Zero Tolerance" a one-day workshop enhancing a stronger enforcement approach towards compliance with the Fire Code. These courses are to explain the legislation, how to commence Court Proceedings and processes necessary for successful prosecutions.

This is why you need the services of an Independent Fire Code Inspector who is fully conversant with Fire Code issues. He will offer advice on the best method of attaining compliance before the authorities become involved, thereby eliminating the risk of prosecution and fines of up to $50,000.

To-day the services of a Home Inspector are considered a necessary part of any real estate transaction.
So too must the services of an Independent Fire Code Inspector be considered necessary for any transactions involving multi-unit income properties.

Other properties, such as retrofit addresses any building with 2 or more apartments, from the house with a basement apartment right up to the apartment building.

So for all your Retrofit needs remember The Fire Guy
"Who is here protecting you from Fire and The Fire Departments"

This article is courtesy of The Fire Guy

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mark@mississauga4sale.com
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Where are the World's Most Expensive Real Estate Rental Markets?

World's Most Expensive Rental Markets

Homes in Tokyo and Lndon have always been expensive, but the dollar's recent plunge has made these and other pricey markets particularly daunting for American expatriates, businesses and anyone unlucky enough to receive a salary in greenbacks.

That's what's happening in Hong Kong. There, in dollar-adjusted terms, a two-bedroom, unfurnished apartment runs $6,398 a month. By comparison, $4,000 a month for Moscow and $4,102 for Tokyo look cheap.

_________
Hong Kong$6,398 a monthPrices on the Peak and in central Hong Kong, home to much of the city's financial centers, are among the highest in the city. Due in large part to its friendly tax rates, Hong Kong attracts businesses from all over the world, with a large sector of its Class-A rental market catering to expatriates and corporate relocation. In 2006, rents were $4,898, according to Mercer.
_________

To find these and other such markets, we used data from Mercer Human Resource Consulting, which based its numbers on 2007 data for rental properties in the Class-A market. Though it means different things in different places, a Class-A designation roughly equates to a unit in high-end, unfurnished building in a good part of town. The measures are taken at the median level, so as to exclude the ridiculous costs of premium apartments in neighborhoods like London's Belgravia or on Central Park in New York.

In Depth: World's Most Expensive Rental Markets

Rents were adjusted from local currencies to dollars. In 2007, the dollar hit a record low against the euro after falling 11% in 2006. Against the pound, the dollar was at a 25-year low in 2007. Against both currencies, the greenback remains in the doldrums.

Business Burden
American companies with offices in London feel an especially painful pinch. While rental prices there increased at a modest rate, when you combine subtle rate increases with the dollar's decline, you're left with a 30% jump in rent from 2006 to 2007. Given that Americans can't seem to afford 3%-6% increases in mortgage payments, many expatriates are going to have to move into slightly cheaper digs, or perhaps consider a move to Leeds.

But the mighty London market isn't even the fastest growing. Moscow rents have jumped by 33% when adjusted for the dollar. And in a market that's still relatively cheap, such as Bangalore, India, rents have increased 87% from last year. This is the result of the dollar's position against the Indian rupee and the rapid economic growth and sophistication of the Bangalore rental market, which, like the sales market, has surged along with the overall Indian economy.

This spells trouble for businesses dealing in dollars. That's because, unlike individual international buyers who are snapping up properties in New York and Los Angeles based on the cheap exchange rate, businesses don't quickly shift countries of operation based on the home currency's purchasing power. Instead, they have to absorb inflated housing costs for executives and temporarily relocate employees.

Large, multinational companies feel the pinch less than small businesses, for whom anywhere from a few hundred to a thousand a month is a lot to fret over.

Since 2006, monthly rents in Hong Kong, as measured by Mercer, grew from 4,898 to $6,398. In Moscow, they rose $1,000, and in London they jumped about $900.

What's the rental market like where you live? Weigh in. Add your thoughts in the Reader Comments section below.

Of course, American companies that pay their overseas employees in local currencies are relatively immune. This is the case with Coca-Cola's overseas facilities, which are locally run and operated. If foreign subsidiaries are making money, the exchange rate doesn't hurt them.

"We make our money locally," says Crystal Walker, a company spokeswoman, explaining that Coke employees affected by currency swings represent "a drop in the bucket," as a small proportion of the company's 71,000 employees are based overseas.

For a company with less static international operations, like Exxon Mobil, the problems associated with currency rates can prove difficult, whether it's the yen, the dollar or the next decade's slumping currency.

"Our business is such that foreign exchange is always an issue," says spokesman Alan Jeffers. "Sometimes you win, and sometimes you lose."

Rental Properties in Mississauga and the GTA

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• Interest Rates


• Power of Sale Properties


• Price Trends


• or Search the MLS and more at my website

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
›mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?


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Rental Market Report Greater Toronto Area from CMHC

Rental Market Report Greater Toronto Area

Report Highlights

• The average apartment vacancy rate in the GTA was unchanged at 3.2 per cent in October 2007. Average same-sample two-bedroom apartment rents increased by 1.2 per cent.
• Market conditions remained similar to 2006 because new renter household formation was offset by a movement of existing renter households into homeownership.
• The rental market will experience little change in 2008, with the average apartment vacancy rate at 3.5 per cent and average rents growing by less than the rate of inflation. Rental Market Report - Greater Toronto Area - Date Released: 2007
• Canada Mortgage and Housing Corporation 2 ment vacancy rate and same-sample rents grew below the rate of inflation. It is important to note that there was variation in rental market conditions across the different sub- markets of the GTA. Market Conditions in Line With 2006

Rental market conditions in 2007 remained in line with those experienced in 2006. There was no change in the 3.2 per cent average apart-

Several factors contributed to stability in vacancy rates in 2007. Increased home ownership demand, especially from the first-time buyer segment of the market, resulted in a substantial number of households vacating their rental accommodation

Rental Market Report - Greater Toronto Area - Date Released: 2007 Canada Mortgage and Housing Corporation 3 to the CMHC Renovation and Home Purchase Survey undertaken in the first half of 2007, 60 per cent of households who had already purchased a home or were planning to do so this year were buying for the first time. On net, the pool of first- time buyers has grown in comparison to 2006.

Positive local labour market conditions in the GTA, including steady growth in jobs and earnings, coupled with low borrowing costs and a greater diversity of borrowing products contributed to the increase in first-time buyer activity. In addition, a greater supply of affordable housing types both low-rise and high-rise has provided more options for first time home buyers. Overall, housing remained affordable for many home buyers, including those making the move from rental to home ownership. On average, the required income to carry a mortgage remained below the average 2007 household income in the GTA. to move into a home of their own. Growing youth employment and sustained immigration into the GTA continued to attract individuals and families to the rental market, serving to moderate the impact of the increased movement to home ownership. In addition, fewer condominium apartment completions kept some first time buyers in their rental units for longer than expected.

Factors both diminishing and contributing to rental demand are discussed below. Strong Ownership Demand

Strong sales of existing homes and new homes in the GTA in 2007 were a drag on rental demand over the past year. Existing home sales will reach a record of 95,000 in 2007 and new home sales will remain strong at over 40,000. First-time buyers were the key factor underlying the strength in the home ownership market. According Condo Completions Cooled in 2007

While the increase in demand for ownership housing was the key factor keeping vacancy rates in the GTA elevated this year, a dip in condominium apartment completions did temper the movement of first-time buyers into home ownership.

In addition, fewer investor-held condominium apartments than expected came on line to compete with purpose-built rental apartments for tenants.

While strong condominium apartment starts in 2005 and 2006 resulted in a record level of units under construction, very few apartments reached the completion stage this year. Through September, condominium apartment completions reached only half the level achieved through the first three quarters of 2006.

Youth Employment Increased

An important factor tempering the impact of home ownership on rental demand in 2007 was an increase in youth employment (individuals aged 15 – 24). This demographic tends to rent initially upon gaining employment and leaving their parental home.

Overall GTA labour market conditions remained tight in 2007, with the unemployment rate remaining between 6.5 and 7.0 per cent. Young people continued to benefit from tight labour market conditions, especially through the creation of full-time jobs. Full-time jobs for More Renter Households Moving to Ownership in 2007

Read more about residential tenancies in Ontario

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• On-Line Real Estate Newsletter sign up
• See seasonal housing patterns

Rental Market Outlook for 2008 - CHMC Rental Housing Market Report Highlights

CHMC Rental Housing Market Report Highlights

• The average apartment vacancy rate in the GTA was unchanged at 3.2 per cent in October 2007. Average same-sample two-bedroom apartment rents
increased by 1.2 per cent.
• Market conditions remained similar to 2006 because new renter household formation was offset by a movement of existing renter households into homeownership.
• The rental market will experience little change in 2008, with the average apartment vacancy rate at 3.5 per cent and average rents growing by less than the rate of inflation.

Market Conditions in Line With 2006

Rental market conditions in 2007 remained in line with those experienced in 2006. There was no change in the 3.2 per cent average apartment vacancy rate and same-sample
rents grew below the rate of inflation.

It is important to note that there was variation in rental market conditions across the different sub-markets of the GTA.
Market Several factors contributed to stability in vacancy rates in 2007. Increased home ownership demand, especially from the first-time buyer segment of the market, resulted in a substantial number of households vacating their rental accommodation

CMHC Rental Market Outlook for 2008

• Demand for rental housing in 2008 will remain on par with what was experienced in 2007.


• The overall apartment vacancy rate will be 3.5 per cent.


• The average two-bedroom rent will increase by 1.5 per cent.


• The movement to home ownership will continue to be a drag on the rental market, but in a different fashion.


• While both existing and new home sales are forecast to edge slightly lower next year, first-time buyers will continue to vacate rental accommodation in favour of home ownership. This movement, however, will be based on a strong increase in condominium apartment completions in 2008. More than double the number of condominium apartment completions experienced in 2007 will occur next year.


• In addition, investor-held condominium apartments in the secondary rental market will attract some renter households out of the primary rental market, due to a higher level of finishings and amenities.


• Factors that will continue to influence the demand for rental include the following:
  
• Growth in youth employment will continue due to tight labour market conditions;


• Immigration will continue to trend upward; and


• Rental affordability will continue to improve as household earnings outstrip growth in average
  rents.

Read more about rental properties and finding a rental property

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?


• On-Line Real Estate Newsletter sign up


• See seasonal housing patterns

New Landlord and Tenant Rules in Ontario as of February 2007

New Residential Tenancy Rules Take Effect in Ontario

February 2, 2007 -- New rules regulating residential tenancies took effect on January 31, 2007. The new rules are a result of a provincial government initiative that began almost two years ago with consultations that included input from TREB.

TREB Input Achieved Results

When the provincial government began consultations on making changes to residential tenancy rules, one of the most significant changes proposed was with regard to rent control. The proposal considered eliminating the current system of vacancy de-control, which allows landlords to negotiate rent freely with a prospective tenant when dealing with a vacant unit. Once the tenant has agreed to a rent, they are then protected by the annual rent increase guideline, set by the provincial government, which stipulates how much the rent can be increased each year.

Given the high vacancy rates in recent years, TREB, and other groups, told the provincial government that the system of vacancy de-control was working, as intended, to improve availability and standards of rental accommodation. As a result of this input, the provincial government decided to maintain vacancy de-control.

New Rules

The new Residential Tenancies Act, which is now in effect, makes various changes to rules governing rents and landlord-tenant relationships. Some of the key changes include:

The annual rent increase guideline will be based on the Ontario Consumer Price Index, which will be the rate of inflation for the year running from June to May.
Landlords will be able to inspect rental units for maintenance problems, with 24 hours notice.
Landlords will have more remedies to deal with a tenant if he/she is causing willful and/or excessive damage in a rental unit or building. The new remedies will cut the eviction process approximately in half.
Improvements to processes under the Landlord and Tenant Board (formerly known as the Ontario Rental Housing Tribunal)
Interest paid to tenants on last month’s rent deposit will be the same as the Consumer Price Index

More Information

Complete background information, including highlights of the new Residential Tenancies Act, is available at a special web site established by the provincial government.

Read more about Landlord and Tenant Investment Property Issues

For more information please contact A. Mark Argentino

A. Mark Argentino Associate Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS 905-828-3434
FAX 905-828-2829
E-MAIL mark@mississauga4sale.com
Website: Mississauga4Sale.com