That’s because the central bank’s October 23 policy announcement in which it slashed its overnight lending rate by 50 basis points to 3.75%, and in doing so, achieved neutral territory was an emphatic statement intended to stoke consumer confidence.

But while it will take some time for the conventional housing market to build momentum, the luxury market is poised to rebound, notwithstanding a glaring issue: scarcity of product.

“There has been so much uncertainty in the economy that conditions haven’t necessarily been fertile to launch luxury projects, but our team includes expert analysts and we’ve determined 2025 is going to be the right time,” said Yoav Bohbot, vice president & director of acquisitions at Brightstone, a developer based in the Greater Toronto Area.

There aren’t too many projects slated to go on sale next year in the luxury segment of the housing market, and that’s why Brightstone is taking advantage of the market by launching five projects across the GTA.

Those projects are SchoolHaus Towns and Mackenzie Park, both in Oshawa; OG Urban Towns in Mississauga; The Elms in Thornhill Woods in Richmond Hill; and Kerr Village Towns in Oakville, which was designed by world-renowned architect Richard Wengle.

Mackenzie Park is a mix of townhouses, semi- and single-detached homes, and located near schools, making it the perfect community for young families. Along with SchoolHaus Towns, which will see 159 stacked townhouses built on three acres adjacent to one of the GTA’s most sought-after schools, the developments are already making noise locally.

And Bohbot says these projects are located near schools for a reason.

“Many of the buyers grew up in the neighbourhood and now with children of their own, they want to come back, but there’s a lack of new housing in the area,” he said. “The character of the neighbourhood allowed us to build these beautiful luxury homes. The site has an elevation of nine metres on one end and it makes it feel like you’re in your own community.”

In addition to a 36-townhome project in Thornhill Woods, OG Urban Towns will be a uniquely situated luxury infill project in Mississauga. Located near Cooksville GO Station, the 101-unit stacked townhouse projects will have a large internal park and amenity space itself unusually large for a project like this.

The development is also fairly close to Mississauga’s city centre, which boasts Square One Shopping Centre and a slew of restaurants, but it’s also blocks away from the Hurontario LRT, which will stretch from Lakeshore to Bramalea in Brampton.“In this market there isn’t anything new today, even in that neighbourhood,” Bohbot said.

He added that new Canadians should find OG Towns, which will have up to three bedrooms, desirable.

“It will have an underground garage, and with a project like this, we’re targeting, primarily, the first-time homebuyer.”

In one of the most coveted neighbourhoods in Oakville, Brightstone is developing Kerr Village Towns, which will be a 48-unit townhouse project near Lake Ontario, with two commercial spaces as well. Originally purchased from SmartCentres, Brightstone has brought a whole new vision to the project, including store frontage on Lakeshore that will fit seamlessly with the character of the neighbourhood.

“The typical buyer here is someone who appreciates the neighbourhood,” Bohbot said. “They appreciate the walking distance to amenities like parks, shopping and, of course, schools. It’s location, location, location here; it’s second to none.”

Brightstone first burst onto the scene with two projects, The Briar on Avenue in Toronto and Fairfield Towns in Etobicoke. The former used the brilliant Wengle, while the latter, which with switch subway access, has a very interesting story behind it.

Brightstone decided to build all 14 units at Fairfield during the COVID-19 pandemic and then released them to the market only after they had been completed.

“It helped us achieve an even greater sale price because they were turnkey,” Bohbot said. “That’s another decision our team made, even though it was our very first project. Our team of experts understands the GTA’s markets better than anybody else in this industry and we know what the market can bear at any given time.”

CREW Editorial

www.canadianrealestatemagazine.ca

Sales 

Quarter-over-quarter, there was a significant increase of 8.9% in sales in the first quarter of 2024, indicating a reasonable demand for housing. However, the year-over-year growth was more modest at 0.6%, which may indicate a slowdown in the housing market compared to the previous year.

Listings

Quarter-over-quarter for the first three months of 2024, there was a significant rise of 5.7% in new listings. The year-over-year growth in new listings was even more substantial, at 32.2%.

For active listings overall, there was also an increase. Both quarter-over-quarter for Q1 2024 and year-over-year, there’s a positive trend in active listings, indicating a growing inventory of available homes for sale. The quarter-over-quarter increase for Q1 2024 was 6.3%, while the year-over-year increase was a notable 25.6%. This increase in supply could have an impact on housing prices, offering more options for potential buyers.

Months of Inventory

The months of inventory number, which measures how long it would take to sell existing homes on the market given the current pace of sales, increased from 5.4 months in Q4 2023 to 5.6 months in Q1 2024. 

Sales-to-New Listings Ratio 

The sales-to-new listings ratio dropped from 51.5% in Q4 2023 to 46.2% in Q1 2024, showing a relative decrease in demand compared to supply. This might mean some better opportunities for buyers.

Price 

There was a slight decrease of 1.7% in prices quarter-over-quarter in the first quarter of 2024. However, year-over-year, the prices have risen by 4.4%. While there may be some current downward pressure on prices, the year-over-year price average, as well as average prices over the past several years, have been trending upwards.

Construction

Both quarter-over-quarter and year-over-year, there’s growth in the number of properties under construction, indicating some investment in housing development and future increases in supply. The Q1 2024 increase in under-construction properties was only a slight rise of 2.8% quarter-over-quarter, however, although the year-over-year increase of 19.5% was more significant.

Economic Indicators

Population Growth

BC’s population has been increasing, with a slight growth of 0.5% quarter-over-quarter in Q1 2024, and 3.3% year-over-year. This suggests a potentially continued demand for housing because of this population growth to support the market.

Unemployment Rate 

The unemployment rate remains unchanged at 5.5% in both Q4 2023 and Q1 2024. This suggests a certain, consistent level of economic activity and stability, which can increase consumer confidence and a willingness to enter the housing market.

Mortgage Arrears 

There’s a slight increase in mortgage arrears from 0.13% in Q4 2023 to 0.15% in Q1 2024. While this increase is relatively small, it does indicate financial strain among homeowners, potentially impacting their ability to maintain mortgage payments and raising concerns for the stability of the housing market.

CREW Editorial

www.canadianrealestatemagazine.ca

According to RBC, in the Toronto area, ownership costs amount to 84 per cent of median household income. The situation is even worse in the Vancouver region where the figure is 103 per cent.

CMHC considers housing to be affordable if it takes up about 30 per cent of income, so we are trending in the wrong direction. The rental market doesn’t look any better with steep rent hikes.

To restore housing affordability to the market, we need an all-hands-on-deck approach. Ontario, for example, has set a target of building 1.5 million homes by 2031. We need to build at least 150,000 new homes annually, but we built less than 90,000 in 2023 and are nowhere near that target. The number of new homes being built this year is expected to decline even further.

The point, of course, is that we need to get down to business. Time is running out quickly. We need to embrace out-of-the-box thinking and crank up the dial on housing.

Staff review expected by end of year

In cities like Toronto, for example, help is available right under our feet – or should I say our wheels. The city is looking at converting a number of its Green P surface parking lots into sites for housing, which could unlock more than 100 new parcels of property for thousands of new units. Council voted 21-1 recently to have staff review all off-street, municipally-owned parking lots that could serve as future housing sites and identify priorities and timelines by the end of 2024.

All in, there are 130 parking lots with suitable designations. The sites are already designated under the Official Plan as areas for mixed-use structures, neighbourhoods and apartment buildings. Even better, 74 of these lots are near major transit station area zones. Many of these sites could be repurposed to include a mix of grade-level retail, with above-ground parking if needed, and housing on top.

The idea makes so much sense on so many levels. Instead of spending tens of millions of dollars to acquire new land, the City of Toronto can make use of the existing parking lot properties it already owns to boost much-needed housing stock.

Strategy aligns with policy objectives

Financially, allowing the parking lots to be converted to sites for housing makes perfect sense.

Strategically, it’s also the right move.

We are in the midst of a housing crisis, not a parking crisis. Considering the present situation, the land would be better used for housing.

However, presently we are choosing parking over housing. It should be the other way round. The opportunity is being wasted.

As Mayor Olivia Chow noted during council’s discussion on the matter, “The people of Toronto need us to leave no stone unturned when it comes to building desperately needed affordable housing.”

Repurposing parking sites aligns with current planning policy objectives.

For example, the City of Toronto Official Plan gives direction to redevelop surface parking lots on city-owned land. A provincial policy statement in 2020, meantime, also gives direction to identify appropriate locations for transit-supportive development to accommodate a significant supply of housing options through intensification and redevelopment.

City staff stated in a report to council that “the shift away from parking accommodation to housing and community service accommodation at these parking lots could provide a significant pipeline of city-owned lands to meet the city’s housing and other goals.”

All solutions must be on the table

New housing is already taxed to death. The exorbitant taxes, fees, levies and development charges imposed on new residential construction is roughly 31 per cent of the cost of a new build. Effectively repurposing parking lots for housing would make the best use of the city resources.

The supply of land ready for building is a critical issue and has been ignored on so many levels. Along with the excessive taxes, fees and levies that have expanded beyond any real growth in incomes, housing that is affordable has become painfully inaccessible to most people.

It is all taking an incredible toll on the well-being of people. This is not the hallmark of a healthy metropolis. As Coun. Brad Bradford, vice-chair of the city’s planning and housing committee, has so rightly pointed out, a surface parking lot is not always the best use of land.

There is no single solution to the housing crisis that we are facing. However, we must look at all available solutions. Converting parking lots into property that can be used for housing is a start.

Richard Lyall is president of the Residential Construction Council of Ontario (RESCON). He has represented the building industry in Ontario since 1991. Contact him at media@rescon.com.

CREW Editorial

www.canadianrealestatemagazine.ca

Benefits of Owning Multiple Rental Properties

Increased Passive Income

Your primary goal with rental properties is most likely to generate income. With multiple rentals, you’re not just increasing your income, you’re also setting up a stable flow of passive revenue. Each property contributes to the overall income, which can significantly exceed what you’d earn from a single unit. For instance, if one property nets $1,000 per month, owning five could mean a monthly income of $5,000—before expenses, of course. This kind of earning potential is substantial when building wealth or planning for retirement.

Diversification of Risk

Relying on a single property for rental income can be risky. Tenant turnover, unexpected maintenance, or regional economic downturns can drastically affect your cash flow. However, when you own multiple properties, you spread out your risks. A vacancy in one property has less of an impact because you have others to fall back on. Balanced across various locations and property types, your investment portfolio can weather local market fluctuations that may otherwise jeopardize a single-property investment.

Potential for Appreciation

Real estate is a unique investment that it often appreciates over time.

With a diverse portfolio of properties, you’re not just looking at one chance for your investment to increase in value but multiple opportunities. As property values rise, so does the potential net worth of your portfolio. This increase allows you to leverage more equity, which can be reinvested into further properties. It’s a positive cycle that can lead to significant wealth accumulation for diligent investors who understand market trends and make informed decisions.

Challenges of Managing Multiple Rental Properties

Time Management

Managing a portfolio of rental properties demands considerable time commitment. Your role extends far beyond the signing of lease agreements; it includes ongoing interactions with tenants, scheduling maintenance, and keeping up with the financial aspects of each property. For individual landlords, tasks accumulate quickly, potentially leading to a time crunch.

• Balancing Priorities: Juggling multiple tenants and properties often means that urgent issues can arise simultaneously, forcing you to prioritize on the fly.
• Efficiency is Key: The more properties you handle, the more streamlined your processes need to be to ensure nothing falls through the cracks.

Tenant Turnover

High tenant turnover is both a symptom and a source of challenges. Each change of tenant necessitates a series of time-consuming tasks such as marketing the property, screening potential tenants, and preparing the unit for its new occupants.

Turnover Costs: Frequent changes in tenants can lead to:

• Interruptions in your cash flow
• Additional costs for cleaning, repairs, and advertising
• Time lost during the screening and move-in processes

Stabilizing Tenure: One of your aims should be to enforce policies that encourage longer stays to minimize turnover and its associated costs.

Maintenance and Repairs

Maintenance and repair issues are as inevitable as they are varied. The complexity increases with the number of properties you own.

• Preventive Measures: Regular inspections and preventive maintenance can help reduce emergency repair situations.
• Rapid Response: When urgent issues do occur, a swift response can prevent further damage and maintain tenant satisfaction.
• Resource Allocation: Ensuring you have the right vendors and service personnel on hand is vital to addressing maintenance efficiently. Failure to do so can have detrimental effects on both the condition of your property and your relationship with tenants.

Strategies for Efficient Property Management

When you’re tasked with the oversight of several rental properties, it’s imperative that you execute efficient property management strategies. Addressing this area effectively can prevent potential issues and smooth out operations, resulting in a more profitable investment.

Develop a Solid Screening Process

A stringent tenant screening process is a cornerstone of successful property management. By meticulously reviewing each applicant, you reduce the likelihood of future rent defaults and property damage.

• Begin with a detailed rental application form that gathers comprehensive information, including employment history and previous tenancies.
• Conduct credit checks to assess financial reliability and confirm the capacity for regular rent payments.
• Seek out references, especially from former landlords, to gauge the applicant’s tenancy record.
• Verify identity and income to avoid fraud and confirm the tenant can afford the rent.

Implement Effective Communication Strategies

Clear and responsive communication forms the backbone of property management, especially when handling multiple units.

• Use dedicated email addresses and phone numbers for each property, facilitating targeted and streamlined interactions.
• Schedule regular updates and check-ins to proactively handle maintenance requests and address tenant concerns.
• Implement a clear protocol for emergencies, ensuring quick and effective responses to urgent matters.

Utilize Property Management Software

The rise of technology has greatly benefited the realm of property management. Here’s why you should consider integrating property management software into your operations:

• Real-time access to financial records, tenant information, and maintenance schedules from anywhere streamlines management tasks.
• Automated features for rent collection, lease renewals, and property listings reduce manual workloads.
• Insights from data analytics can inform decisions on property investments and enhancements.

Financial Considerations

Assessing Cash Flow

When managing multiple rental properties, cash flow is your financial lifeline. You’ll want to forecast the potential return on each property to ensure sustainability and growth in your portfolio. The use of analytical tools can aid in this process; by entering property-specific data, you can view projected ROI metrics such as net operating income (NOI) and cash-on-cash return. For example, with a rental property’s annual NOI at $6,000 and a purchase value of $100,000, your cap rate would be 6%.

Metric

Calculation

Example

Net Operating Income (NOI)

Cash Flow – Mortgage Payment

$6,000

Cap Rate

NOI / Property Value

6%

Cash on Cash Return

Pre-Tax Cash Flow / Total Cash Invested

10%

Tracking Expenses and Income

Efficiently managing the financial aspect requires diligent tracking of both expenses and income.

• Rent Payments: Set and collect the correct rent amount punctually.
• Mortgage Payments: Ensure these are sustainable and paid timely.
• Insurance: Vital to be paid on schedule and within budget.
• Property Taxes: Factor this annually into your financial planning.
• Utilities: Handle these in accordance with your lease agreements.
• Fees/Fines: Avoid additional costs by meeting all regulatory requirements.

Tax Implications

Dealing with taxes can be complex; however, understanding tax implications like depreciation can be significantly advantageous. Residential property can depreciate over 27.5 years, potentially lowering your taxable income. If you own a property worth $150,000, this could amount to an annual deduction of $5,455.

Keep in mind the necessity of accurate reporting on rental income taxes. As your portfolio grows, so do potential tax benefits. You may find that your cumulative depreciation expenses could lower your overall tax bracket, underscoring the need for meticulous expense tracking and tax preparation.

Conclusion

Efficiently managing multiple rental properties requires a keen eye on finances and a strategic approach to planning. By diligently tracking your cash flow and using analytical tools, you’ll be better equipped to forecast returns and maintain a robust revenue stream. Remember, meticulous record-keeping and understanding the tax implications of your investments are paramount. With these strategies in place, you’re set to navigate the complexities of property management and maximize your investment potential.

CREW Editorial

www.canadianrealestatemagazine.ca

In Toronto, for example, it takes 908 days or two and a half years for site plan approval, up from 21 months two years earlier, and 713 days or nearly two years for a zoning bylaw decision. Presently, the city ranks last among 20 Canadian cities in terms of speed for approvals.

It’s a baffling figure. Seriously. 

Waiting for approvals costs builders time and money. Each year a project is delayed adds between eight and 14 per cent in construction-related costs, or between $9 and $19 per square foot.

Bottom line here is that these delays are only making housing more costly to build – adding to the price tag on new housing to consumers at a time when supply and affordability are key issues.

Study pinpoints the problem

A study published recently by Toronto Metropolitan University’s Centre for Urban Research noted that one of the reasons for widening housing unaffordability in the Greater Golden Horseshoe (GGH) over the past 20 years is the introduction of additional planning layers to municipalities. Fragmented municipal governments and land use planning policy are other reasons.

The study examined housing affordability in Toronto and Ottawa areas and delved into why Toronto is worse off than the nation’s capital.

While provincial policy frameworks have contributed to the discrepancy, the report notes that the land use planning regimes of municipalities in the GGH are also to blame as the Toronto census metropolitan area encompasses multiple tiers of government. This leads to the imposition of additional planner layers in the Toronto area but not in metropolitan Ottawa.

According to the study, the additional planner layers in Toronto, and not in Ottawa, have played a role in the widening affordability gap between the two when it comes to single-family housing. Adding more planning layers, just adds to the timeline for getting shovels in the ground.

System needs an overhaul

For an example, one only has to look to Toronto council’s decision to refuse development applications for a residential tower on a heritage site at 1117 Queen St. W. There is a two-storey postal station on site that was built in the early 1900s. The developer wanted to keep the existing structure and redevelop the site with a 29-storey, mixed-use residential tower, but city staff recommended the application be refused because it didn’t preserve the heritage value of the existing building. Nor did it conform with land use policies or local guidelines.

This was an insane, time-wasting exercise, and came at a time when we’re in such dire need of housing. It was yet another prime example of what’s wrong with our system – too many planning layers and too many people with their fingers in the pie. The system is in need of an overhaul.

We are hoping that the Toronto Housing Action Plan and new development and growth division in the city will lead the way. We must make sure that approvals are not held up unnecessarily.

Problem is taking a toll

Young people are moving away from our cities and province because they can not afford to buy a home here. 

According to Statistics Canada, 14,100 Ontarians in their 20s moved away from the province last year, mainly to Alberta, continuing a three-year trend of extra-provincial migration from Ontario exceeding inflow from other regions of the country. 

We have to make it easier – and less expensive – to build housing by reducing red tape and cutting taxes, fees, levies and development charges on new housing. Presently, they account for 31 per cent of the cost of a new home.

Lack of housing has social cost

The lack of affordable housing has a social value cost. A report prepared recently by the Canadian Centre for Economic Analysis (CANCEA) showed that the social value cost attributed to housing unaffordability in the Greater Toronto Area is about 1.75 times greater than that of cancer.

Think about that for a moment. It’s a stark indication of the severity of the housing affordability crisis.

In the study, CANCEA researchers looked at demographic, economic, financial and personal well-being levels across the population and explored how well-being levels in the GTA might improve if unaffordability were addressed. From the statistics, they calculated the monetary cost of housing unaffordability and compared it to the social value costs of major chronic diseases.

The results are staggering and showed a clear decrease in well-being due to housing unaffordability. 

Which brings me back to my original point.

We must speed up the approvals process if we are to have any hope of getting out of the current housing crisis.

Time is running out.

Richard Lyall is president of the Residential Construction Council of Ontario (RESCON). He has represented the building industry in Ontario since 1991. Contact him at media@rescon.com.

CREW Editorial

www.canadianrealestatemagazine.ca

Although it’s common to shop around for rates when purchasing, most people are busy, and only research the big bank rates, consistently renew with the same provider for convenience, and don’t watch for improving rates to refinance at a better one. These oversights will have financial repercussions, but a skilled mortgage broker offers a solution, saving time and money.

Beyond the Bank: The Advantages of Working with a Mortgage Broker 

A mortgage broker serves as a middleman between borrowers and lenders, assisting individuals in obtaining mortgage loans tailored to their specific needs and financial situations. Unlike lending agents who work for the institutions they represent, brokers work directly for borrowers, offering them access to a wide range of mortgage products and competitive interest rates from multiple lenders. This broader selection provides borrowers with more options and flexibility in choosing a loan that suits their requirements.

Moreover, mortgage brokers collaborate closely with borrowers to understand their financial circumstances and preferences. Leveraging their relationships with lenders, brokers negotiate favourable terms and rates on behalf of their clients. This personalized approach is particularly helpful to individuals who may not meet the strict criteria of traditional lenders, as brokers can often find alternative solutions or lenders willing to accommodate their unique circumstances.

While traditional lenders offer a limited selection of loan options based on predetermined criteria, mortgage brokers provide personalized guidance and access to a broader spectrum of financial solutions, making it easier for borrowers to qualify for suitable loans and secure better rates.

Minimizing the Challenges of High Interest

In a high-interest rate environment, the ability to explore various lenders and mortgage products becomes increasingly important. Mortgage brokers’ access to an extensive network of lenders, including banks, private lenders, and credit unions, allows them to shop around on your behalf, comparing rates and terms to identify the most favourable options. When rates are higher, every percentage counts, but it is difficult to scour all of the options available to find that better rate.

Excluding other costs, a modest $400,000 house, with a 20% downpayment, over 20 years at 5.0% will have an actual cost of $506,846.01 including interest. At 5.1%, with just a 0.1% increase, it increases to $511,098.19, for a difference of $4,252.18. In markets of uncertain, fluctuating, and high interest rates, a mortgage broker can often find you significantly lower rates compared to the ones that banks offer.

Elevated interest rates, falling real estate values, and government stress tests may lead to a looming mortgage crisis for Canadians.2 Many could face higher payments and qualification challenges when renewing mortgages. Refinancing through traditional banks may become difficult, exacerbating the situation. According to Ringo So, Mortgage Agent and Managing Partner of 360Lending, “There are going to be thousands of Canadians going into their banks in the next few months to look for a solution to keep their payments affordable or to seek approval for refinancing… many of them will be turned away, but there are mortgage brokers who can offer advice and solutions to these very real problems.” 

Ringo So also notes that “The major banks have no solutions for tens of thousands of Canadians whose mortgage payments are going to skyrocket or need to refinance. This is a critical time for homeowners to understand their finances in detail, and learn how the mortgage industry works outside of the Big 5 banks.” If you’re self-employed, have trouble securing financing due to stricter requirements, or otherwise looking to minimize the impacts of high interest, a broker can assist in finding loans tailored to your situation.

Personalized Guidance and Advice

Each borrower’s financial situation is unique, and there is no one-size-fits-all approach to securing a mortgage. Mortgage brokers provide personalized guidance, taking the time to understand their client’s financial goals, preferences, and constraints and offering tailored advice.

Extended Ratio Loans

When individuals find themselves unable to secure suitable mortgage options through traditional banks, mortgage brokers step in to offer tailored solutions. One such avenue is through extended ratio loans, which go beyond conventional debt-to-income considerations. These loans take into account a borrower’s entire financial profile, including their credit history and employment stability, to ensure a comprehensive assessment of their repayment capacity.

Unlike the stringent criteria imposed by major banks, alternative lenders, often referred to as B lenders, adopt a more flexible approach. The Gross Debt Service (GDS) and Total Debt Service (TDS) ratios play pivotal roles in determining the allocation of income towards debt payments. Major banks adhere strictly to prescribed limits, capping these GDS/TDS ratios at 39/44, so no more than 44% of pre-tax household income can be allocated to mortgage, taxes, heating, and debt payments. B lenders are willing to accommodate a broader spectrum of financial circumstances, and may permit higher ratios up to 50/50, with rare exceptions to include ratios as high as 60/60. These extended ratio loans enable borrowers who have higher debt levels, but who also demonstrate responsible financial management and a clear ability to meet repayment obligations, to receive the financing they need.

Access to Preferred Rates

When it comes to securing a mortgage, Ringo So notes, “Brokers have access to preferred rates, which are usually significantly better than lenders’ posted rates.” Posted rates are the standard mortgage rates advertised by banks or lending institutions, often higher than what could be negotiated. On the other hand, mortgage brokers have the advantage of accessing a wider variety of lenders, including those that do not deal directly with the public. This network allows brokers to negotiate rates that are more competitive than the posted rates, potentially saving borrowers thousands over the term of their mortgage. By leveraging the expertise and connections of a broker, individuals can unlock access to exclusive deals and rates that are not available to the general public, aligning their mortgage more closely with their financial goals. 

Loans for Self-Employed People

Those who are self-employed often have challenges fitting traditional income requirements in the process of mortgage refinancing. Major banks use only reported or taxable income to qualify, which is disadvantageous to self-employed individuals because of tax-deductible write-offs. As these write-offs lower taxable income, this lowers a self-employed person’s borrowing capacity with a bank.

However, specialized loan programs exist, enabling alternative documentation such as bank statements, contracts, invoices, or tax returns to be used. These loans allow self-employed individuals with irregular income to prove income using these documents, instead of T4s and employer documents which the banks favour. Mortgage brokers can guide borrowers through these options to secure suitable financing solutions.

Investor-Friendly Programs

It is not just homeowners that can benefit from a broker; they can help investors find programs that cater specifically to real estate investors. This includes specialized loan products such as portfolio loans, fix-and-flip financing, or rental property loans. While banks and traditional lenders may have limited investment-friendly options, rates may not be competitive, and you may not have the complete guidance you need to make optimal choices. Brokers offering these services are likely to have a deeper understanding of the unique needs and challenges faced by investors to provide expert advice throughout the loan process.

Equity-Based Lending

Equity-based lending involves using the equity in an existing property as collateral for a loan. This can be useful for borrowers who have substantial equity but may not meet traditional income requirements. Brokers can connect borrowers with lenders offering equity-based lending solutions and assist with structuring the loan to meet their needs.

Certain investors may find themselves excluded from traditional avenues, such as those outside the Greater Toronto Area (GTA) and major urban centers, as B lenders typically don’t extend their reach to lend in these areas. However, other alternative or equity-based lenders can bridge this gap.

Additionally, individuals who may not meet the requirements set by traditional A/B lenders, often because of a decrease in income, can benefit from a home equity loan. This loan can settle various debts such as credit card balances, auto loans, and student loans, amongst others. For many in this situation, a home equity loan can lead to potential reductions of up to 50% in monthly interest payments. Furthermore, by promptly clearing their debts, they are also able to rebuild their credit score within 60 to 90 days.

Collaborating With a Broker 

A skilled mortgage broker offers advice, guidance, and access to alternative lending options, such as finding willing lenders or alternative solutions, including loans based on alternative documentation or non-traditional income verification methods, as well as extended ratio or equity-based loans. Brokers understand non-standard lending guidelines and can direct clients to suitable options.

Effective cooperation with a broker, honesty in disclosing financial standings, and providing comprehensive financial documentation enable personalized loan plans, increasing the likelihood of success in mortgage approvals and favourable terms.

Navigating the complexities of the mortgage market requires expertise, diligence, and strategic planning. Using a reliable mortgage broker agency like 360Lending, borrowers have the advantage of a skilled team with expertise and access to a wide range of competitive lenders and products, to help you combat rising interest rates. 

CREW Editorial

www.canadianrealestatemagazine.ca

As a property manager in Ontario or Quebec, you navigate a landscape filled with unique challenges and opportunities. From tenant screening to lease management and maintenance, your role is central to the success of real estate investments.

The Importance of Property Managers in Real Estate Investment

Ensuring Effective Property Management

Playing a pivotal role in the Canadian real estate scene, property managers bridge the chasm between property ownership and consistent profitability. You have a sizable investment in your property, and a top-tier property manager takes charge of the day-to-day operations, streamlining processes that might otherwise be overwhelming. Tenant screening, rent collection, maintaining the physical state of the property, and handling eviction proceedings when necessary are key aspects of their remit.

Maximizing Investment Returns

Investing in a property manager can significantly boost the financial performance of your assets. Data furnished by the National Association of Residential Property Managers (NARPM) showcases a stark contrast in rental income growth between professionally managed and self-managed properties: an average annual increase of 4% compared to just 2% for those going it alone.

Additionally, while the average property owner invests about 30 hours per year managing a single rental property, a property manager affords you the luxury of hands-off oversight, ensuring tasks are completed swiftly and more efficiently. This level of management expertise not only secures higher initial rental income but also fosters a steadier escalation of that income over time.

Roles and Responsibilities of Property Managers

Tenant Acquisition and Retention

As a property manager, your ability to attract and keep tenants is crucial. Your efforts in marketing the property, showing it to potential renters, and screening candidates are indispensable in maintaining a steady income for the owners. The art of tenant retention involves building relationships and addressing concerns to encourage lease renewals. Given the competitive nature of the rental market, especially in urban centres across Canada, this aspect of your role directly impacts property profitability.

Property Maintenance and Repairs

Keeping properties in top condition is not only a matter of compliance but also a strategic move to sustain property value. As a property manager, you’re tasked with regular inspections and timely repairs. This includes everything from routine landscaping to emergency plumbing issues. With harsh Canadian winters, seasonal maintenance such as snow removal can’t be overlooked. Collaborating with reliable contractors and service providers is part of your day-to-day activities to ensure that tenants have safe and habitable living conditions.

• Effective property maintenance includes:
• Prioritizing urgent repairs to prevent further damage
• Scheduling seasonal maintenance checks
• Updating safety and security features regularly

Rent Collection and Financial Management

A fundamental responsibility you have is to collect rent and manage the finances related to property management. This ensures a consistent cash flow, which is vital for the property’s financial health. Utilizing modern software solutions, you can streamline rent collection processes and provide convenience to tenants, increasing on-time payment rates.

Legal Compliance and Risk Management

Navigating the complex legal landscape of landlord-tenant laws in Canada is a significant element of a property manager’s role. You must be well-versed in both provincial legislation and municipal bylaws to shield owners from legal risks. Whether it’s adhering to Quebec’s strict landlord-tenant framework or ensuring all properties meet the Policy on Fire Protection, your expertise minimizes the potential for legal disputes and non-compliance penalties.

• Key aspects of legal compliance include:
• Understanding and enforcing lease agreements
• Keeping up to date with changes in housing laws
• Mitigating risks through proactive management policies

Your work in risk management involves implementing strategies that prevent issues before they arise. It’s about being proactive rather than reactive, which not only protects the property owner’s investment but also maintains a positive relationship with tenants.

Qualities to Look for in a Property Manager

Experience and Expertise in Real Estate

When you’re entrusting someone with your investment, it’s essential that they possess a background that inspires confidence. Property managers with a spectrum of experience across different property types bring valuable insights and a nuanced understanding of the rental market. Their expertise can prove pivotal in situations that demand swift, informed decision-making. Look for a track record that includes:

• Successfully managed properties, akin to your portfolio
• Adaptability in handling both residential and commercial assets
• Experience in tenant negotiations and lease preparations

Strong Communication and Interpersonal Skills

Property management is not just about bricks and mortar; it’s equally about the people within. Effective communication stands at the core of tenant retention, conflict resolution, and the maintenance of professional relationships. You should seek a property manager who:

• Can articulate issues and solutions clearly to all stakeholders
• Demonstrates empathy and patience in tenant dealings
• Maintains transparent dialogue with you as the owner

Interpersonal skills also extend to nurturing connections with a network of reliable contractors and legal professionals, which can significantly streamline property operations.

Attention to Detail and Organization

The day-to-day running of properties requires a meticulous eye. Every detail, from the clauses in a lease agreement to the fine print in contractor quotes, can have significant implications. Organizational prowess is equally important, given the multitude of tasks a property manager juggles, including inspections, repairs, and lease renewals. It’s imperative to have a manager whose organisational skills mitigate any risks of oversight or error, ensuring nothing falls through the cracks.

Knowledge of Local Laws and Regulations

Property managers in Canada must stay abreast of the continually evolving landscape of local and federal laws. This is particularly pertinent in regions like Quebec, where regulatory bodies such as the OACIQ govern real estate practice. A property manager well-versed with the legal nuances specific to your property’s location can safeguard you from potential liabilities and enhance compliance. This expertise is not just preventative; it can also be leveraged to navigate the complexities of zoning laws, rent control, and other statutes that may impact your property’s profitability.

Conclusion

Navigating the complexities of real estate investments in Canada demands a keen eye for detail and an understanding of the market. Your choice in a property manager can make a significant difference in the performance of your investment. 

By taking the time to thoroughly vet candidates and draft a comprehensive partnership agreement, you’re setting the stage for a fruitful collaboration. Remember, the right property manager is more than a service provider; they’re a pivotal part of your investment strategy, ensuring your assets are well-maintained and yielding the best possible returns. With these steps, you’re well on your way to bolstering your real estate portfolio’s success.

CREW Editorial

www.canadianrealestatemagazine.ca

As tourist numbers swell, fueled by Canada’s rich tapestry of culture and nature, the hospitality real estate sector is riding the wave of this growth. Your investment opportunities are expanding, and the economic landscape is transforming before your eyes.

The Impact of Tourism on Local Real Estate Markets in Canada

Tourism’s role in shaping Canada’s real estate landscape is undeniable. As you delve into the trends, it’s clear that the synergy between these industries creates substantial ripples across the market. Growing tourist arrivals are magnetizing investments into hospitality real estate, a sector that benefits directly from visitors seeking diverse accommodation experiences.

Regional Market Dynamics

Canada’s hospitality real estate landscape isn’t uniform; it’s a mosaic of regional markets each with their own pulse.

In Ontario, prominent cities such as Toronto and Ottawa serve as hubs for business and leisure, driving demands for a variety of lodging facilities. Whether it’s the luxury hotels or the budget-friendly motels, investors and developers eye Ontario for its consistent flow of travelers and robust occupancy rates.

Conversely, British Columbia epitomizes the pull of natural beauty on real estate. Places like Vancouver, Victoria, and Whistler are not just tourist hotspots; they’re catalysts for hospitality sector growth. The province’s picturesque range from forested coastlines to mountainous panoramas underpins a strong demand for accommodations that blend with the locale.

Economic and Government Intersection

Here’s how economic stability and government intervention are underpinning the market:

• Canada’s Economy: With steady GDP growth and low unemployment, there’s a conducive climate for robust investment.
• Government Involvement: Initiatives for infrastructure development and sustainable tourism are paralleled by eased regulations, beckoning both domestic and international investors.

Consumer Preferences and Market Expansion

Changing travel desires are reflected in the evolution of real estate offerings. Travelers now seek accommodations that offer cultural authenticity or remote tranquility. This shift has given rise to novel property developments, especially in upcoming tourist regions like the northern territories and indigenous cultural sites, where demand for unique lodging experiences is sparking new real estate ventures.

Factors Affecting the Local Real Estate Market

Population Growth

You’ve likely noticed bustling property development in areas experiencing a surge of newcomers. This is no coincidence; Population Growth is a crucial market driver in real estate, particularly in places like Canada’s Kootenay region where the lure of natural beauty and community pulls in retirees and remote workers alike. 

Demographic shifts are key; as people flock to areas for their appealing lifestyle, real estate demand invariably follows. In Kootenay, for example, you’ll find:

• Increased interest in single-family homes, particularly in smaller communities
• Demand for housing complexes catering mainly to retirees

Real estate developers need to stay attuned to these trends. They must understand the specific needs of incoming residents to optimally align with the demand.

Infrastructure Development

Infrastructure plays a pivotal role in shaping local markets, especially so when considering the real estate sector. Well-connected and easily accessible areas often experience a boost in property values, thanks to the amenities they provide. Investments in infrastructure development aren’t just about roads and utilities; they’re about opening up regions that were previously considered inaccessible.

In Canada, government investments ensure that public funds are being channelled into:

• Transportation networks, improving access and convenience for travellers
• High-speed internet and mobile networks, which are critical in today’s digital age

Positive Impacts of Tourism on Local Real Estate

Increased Property Demand

When you consider the influence of tourism on local real estate markets, you can’t ignore the significant boost in property demand this sector brings. Growing tourist arrivals often translate into a heightened need for accommodation, spawning a variety of rental opportunities. From short-term holiday lets to long-term leases, property owners find themselves with a multitude of options for maximizing their investments.

Rise in Property Values

Tourism doesn’t just amplify demand; it also fuels a rise in property values. With sustained demand comes an appreciation of property worth, as seen in localities enriched with tourism. This can be particularly pronounced in Canadian hubs known for their tourist draw, where the consistent flow of visitors bolsters the real estate markets with robust and resilient investment opportunities.

The advent of new businesses—attractions catalyzed by tourism—can transform neighborhoods and reinvigorate the market. Unique accommodations such as boutique hotels or glamping sites crop up, inherently driving property values northward.

The influence of platforms like Airbnb has shifted the focus towards high-quality short-term rentals. The initiative ‘Beyond by Airbnb’ promises luxury experiences, drawing high-end travellers who might traditionally opt for bespoke retailers. Increased interest in Airbnb properties can result in a discernible hike in residential real estate prices in sought-after areas.

Negative Impacts of Tourism on Local Real Estate

Increased Competition for Housing

One of the most pressing concerns is the Increased Competition for Housing. As tourism flourishes in Canadian locales, so does the demand for accommodations, pushing property prices upward. This increase is especially pronounced in tourist hotspots, where investors flock, seeking lucrative returns on short-term rentals.

The surge in housing demand often leads to a scarcity of long-term rentals, making it challenging for locals to find affordable housing. Data from municipalities across Canada show marked increases in rental prices, particularly in areas with high tourism activity. For instance, property values in cities like Vancouver and Toronto have skyrocketed, making headlines nationwide.

Displacement of Local Residents

The competition for housing due to tourism can often lead to the displacement of local residents. As landlords and property owners opt for the more profitable short-term tourist market, they might convert long-term rentals into vacation spots. Consequently, the locals, especially those on lower incomes, find themselves edged out of their neighborhoods, a phenomenon termed ‘touristification.’

In some cases, entire communities in Canada’s most visited regions have transformed, with areas like Whistler and parts of Quebec’s Charlevoix region experiencing noticeable shifts in their demographic profiles. Studies have shown that the rental market’s redirection towards tourists displaces residents, fundamentally altering local character and community structure. Consider these points:

• Long-term residents are forced to move to more affordable areas.
• Community cohesion suffers as transient tourist populations replace stable local families.
• Services tailored for residents may pivot to cater to the needs of tourists, further alienating locals.

This displacement not only affects the social fabric of Canadian communities but also raises ethical considerations about the rights of residents versus the benefits reaped from tourism.

Conclusion

You’ve seen how tourism’s surge can reshape Canada’s real estate landscape, often with a double-edged sword. While it brings innovation and economic growth, it also presents challenges that demand smart, sustainable solutions. It’s clear that balance is key—preserving the vibrancy of local communities while welcoming the world. As stakeholders work together to harmonize the interests of tourists and residents alike, the future of Canada’s real estate in tourist hotspots looks to be as dynamic as it is promising. Remember, the goal is to ensure that the places you love to visit remain wonderful places to live.

CREW Editorial

www.canadianrealestatemagazine.ca

“Calgary offers unique opportunities for residents and investors. Business-wise, it’s home to the headquarters of many large businesses as well as many local ones, and it actively encourages entrepreneurship. Recreationally, it’s perfect for outdoor adventures, dining, and entertainment. So it’s no wonder it is a popular city for people to move to and buy investment property in,” Jesse Davies, a noted top Calgary realtor with Century 21 comments.  

Overview of Calgary and its Neighbourhoods

Calgary is the largest city in Alberta and provides the benefit of big-city living and outdoor adventure with natural spaces. 

Its diverse neighbourhoods cater to various lifestyles and preferences. Beltline, Kensington, and Mission feature urban living with trendy cafes, boutique shopping, and cultural hubs like galleries and theatres. These areas tend to appeal to young professionals and creatives.

On the other hand, neighbourhoods like Aspen Woods, Signal Hill, and Cranston offer traditional suburban living with spacious homes, well-manicured parks, and access to schools, playgrounds, and community centres, making these popular with families.

Moreover, Calgary’s communities like Inglewood and Bridgeland feature a mix of heritage buildings with contemporary dining and entertainment. 

Each neighbourhood in Calgary has its own feel, offering different benefits, and attracting different types of owners. There is something for everyone, so sellers just need to market to the right audience, and buyers need to find the right neighbourhood fit for their personal style.

Housing Options

Calgary’s real estate market offers a full range of housing options to suit different preferences and budgets. Detached housing, condominiums, townhouses, semi-detached homes, and even pre-construction properties are all available.

Detached housing appeals to those seeking privacy and space; Calgary single-family homes range from cozy bungalows to luxury, premium homes. Condominiums offer a low-maintenance lifestyle, ideal for busy professionals or those looking to downsize, and may offer amenities such as fitness centers, concierge services, and communal spaces. Townhouses and semi-detached homes offer a balance between the privacy of detached housing and the affordability of condos, making them popular choices for families and first-time buyers. Pre-construction properties present an opportunity for buyers to customize their homes according to their preferences and potentially benefit from appreciation upon completion.

Tips for Successful Buying and Selling in Calgary

Whether you’re buying, selling, or investing in a property, identifying its true potential and value requires seeing beyond the physical building and can sometimes take a little imagination. Understanding the lifestyle and flexibility a home can offer helps you see a home’s value more accurately,” notes Jesse Davies.

Calgary’s real estate market is complex, and requires strategic planning with informed decision-making. Working with a leading Calgary realtor who has experience in the type of transaction and property involved will make the real estate deal much simpler and more successful.

For sellers, staging your home effectively to highlight its features, avoiding a cluttered look, and allowing buyers to imagine it as their home is essential. Professional photography, videos, and marketing materials can further enhance your property’s visibility in the market. A strong digital presence is essential now; as many as 97% of home buyers conduct at least part of their search online.5 A good pricing strategy that considers current market conditions, takes into account what features a house offers, and which is in line with similar properties in the neighbourhood needs to be determined.  

In recent years, the real estate market has undergone several shifts. Finding a real estate agent who knows the market trends and understands what buyers want is important. They can help highlight your property’s features that match what buyers are looking for and create a customized plan to sell your property for the best exposure and value.

Buyers, especially those considering investment properties, should conduct thorough market research and seek guidance from a realtor. Identifying emerging neighbourhoods, analyzing rental demand and potential appreciation, and understanding market trends are crucial for making informed investment decisions. Reviewing listings online is a good start to see what is available, but a property search is more complicated than a simple search. Be sure to set a firm budget, and clarify what your needs are. A list of prioritized wants is helpful, too. If buying with another person, make sure to come to an agreement on what your wants and needs are, before starting the search.

A realtor who knows what neighbourhoods will meet your needs and price range is invaluable; they can offer insights that cannot be simply researched on the internet. They can also assist with bidding strategies to help you make successful bids at a reasonable price.

When purchasing a property for yourself or for investment purposes, focus on location. Properties in walkable areas, close to amenities, transit, schools, and employment opportunities, will make a big impact on your enjoyment of your property or its desirability for renters. You can make upgrades to a home, but you can’t change the neighbourhood. If buying a condo, look into the condo fees carefully and investigate whether changes are planned. Finally, look into future development plans in the neighbourhood to gauge potential impacts on property value.

A knowledgeable investment realtor can provide valuable insights and assist investors in identifying lucrative opportunities that align with their investment goals. Calgary is a thriving city for investment properties. An investor-friendly realty team like the Jesse Davies team can also offer a variety of additional services to help clients navigate the investment process, such as property management, rental income analysis, and access to a network of trusted contractors and professionals. 

Current Market Update

The real estate market is always in a state of flux and change, making it difficult for home buyers, sellers, and investors alike, to make decisions.

In January 2024,1 more homes were sold in Calgary, around 1,650 of them, as more (2,137) were put up for sale. However, even with more homes for sale, there still isn’t enough to keep up with the demand. This has led to the average price for a home rising to $572,300, 10% more than last year. Because of fewer homes and rising prices, rent is increasing; in 2023, the average rental cost increased by a significant 14.3%.

For people looking to buy a home, this means fewer options and possibly higher prices because of the competition. If you’re selling, you may be able to sell faster at a competitive price. For investors, it may be difficult to find suitable properties, but potential rent income could be lucrative. 

The average price for a detached home in January was $702,200, while for semi-detached homes, the average price was $625,000. Row houses averaged $426,400, with apartments hitting an average price of $324,000. These prices for all categories showed an increase in price, with a lack of supply.

On the plus side, unemployment rates are falling, which helps with a healthy real estate market.

“When unemployment decreases, consumer confidence in our real estate market goes up and people are more confident to buy homes and investment properties,” says Jesse Davies of Jesse Davies Real Estate. Calgary has seen an increase of 9,200 jobs; the unemployment rate showed a 9.7% decrease from the lows seen in June 2020, which is also lower than the long-term average. 

The Importance of a Top Calgary Realtor

Calgary has a competitive real estate landscape that is particularly subject to rapid change; having a trusted advisor and the best by your side can make all the difference. Having one who is knowledgeable about the area and experienced in the type of transaction you are planning, such as a certified condo realtor, investment realtor, or pre-construction realtor, is a huge advantage. The best Calgary real estate agent will bring extensive experience, market knowledge, and negotiation skills to help you.

Whether you’re buying your dream home, selling a property, or seeking investment opportunities, a top realtor can streamline the process, offer valuable guidance, and ensure a smooth transaction from start to finish. 

The Jesse Davies Team has won several industry and client-based recognition awards, including the 2021 and 2022 #2 Calgary Real Estate Agent by rate-my-agent.com, Top 100 Canadian Agents 2021 and 2022 by RankMyAgent.com, and the Top Realtor for 2020, 2021 and 2022 at Century 21 Elevate Real Estate. The team knows Calgary completely, staying up to date on all the latest market trends, and has expertise in buying and selling detached homes, condos, pre-construction properties, investment properties, and more.

CREW Editorial

www.canadianrealestatemagazine.ca

This trend is reshaping demand, as you’re now seeking more than just a place to live; you’re after a sanctuary that caters to remote work, at-home learning, and a desire for green spaces. The suburbs are not just about affordability—they’re becoming the heart of the Canadian dream.

Understanding Suburban Real Estate Markets

Definition of Suburban Real Estate Markets

Suburban real estate markets refer to the residential and commercial zones that lie on the outskirts of major cities. These areas are characteristically less dense than urban cores but more populated than rural settings. Residential properties in these zones usually offer more space and a quieter lifestyle, making them suitable for those who desire comfort without disconnecting from the conveniences of city life. Commercially, suburban markets are often home to shopping centres, small businesses, and office parks, catering to the local population’s needs without the hustle and bustle of city centres.

Factors Driving Growth in Suburban Real Estate Markets

Several catalysts are propelling the attractiveness of suburban real estate markets in Canada. Here are the key drivers:

• Remote Work Trends: As remote work becomes a mainstay, daily commutes to city centres are less of a constraint, leading many to prioritize space over proximity to an office. This shift is evident in the surge of suburban homebuyers who relish the bonus of home offices and less congested environments.
• Affordability: Suburban properties often come with a lower price tag compared to their urban counterparts. With city centre real estate experiencing sky-high prices, these areas offer a more feasible entry point into homeownership.
• Quality of Life: The promise of a better work-life balance, access to parks, and less crowding contributes to the appeal of the suburbs. These qualities resonate with individuals seeking a sanctuary that caters to both personal well-being and professional commitments.

• Family Dynamics: Larger living areas and the presence of schools and recreational facilities make suburban markets attractive to growing families.

The interplay of these factors is leading to a reshaping of demand, with the suburbs increasingly seen as not just affordable, but desirable places to live and work. The trend is also pushing prices upward, adding to the competitiveness of these markets.

Challenges Faced by Canadian Suburban Real Estate Markets

With the increased interest in suburban areas, several challenges emerge:

• Supply Shortages: As the demand escalates, the existing housing stock in suburban areas is hard-pressed to meet it, leading to a shortage in supply.
• Infrastructure Strain: The suburban infrastructure, not originally designed for high-density living, may struggle to support the sudden population influx, which could affect transportation, schooling, and healthcare services adversely.
• Price Escalation: High demand with limited supply can result in inflated property prices, which may eventually push the affordability of suburban homes beyond the reach of typical buyers.

Opportunities in Canadian Suburban Real Estate Markets

Advantages of Investing in Canadian Suburban Real Estate

The suburbs offer compelling incentives for both live-in owners and real estate investors. Affordability stands out, with a substantial suburban discount evident when comparing housing costs in city centres and outlying areas. 

How to Identify Profitable Suburban Real Estate Investments in Canada

To pinpoint profitable investments in the suburban landscape, start with extensive research. Analyse demographic shifts, construction activity, and property values to identify regions poised for growth. The Greater Toronto Area, for example, has been singled out for its vibrant market despite high construction costs.

Real estate assessments should also factor in balanced market conditions, as reported for major city centres, indicating a structured growth environment. The Bank of Canada’s findings suggest that closures of downtown services during the pandemic (even if they have reopened since) and the quest for more living space have bolstered suburban demand, adding an extra layer of resilience to these markets.

To venture profitably, consider the property type and local amenities, recognizing that today’s buyers value more than square footage—they’re looking for a lifestyle upgrade. It’s vital to strike a balance, choosing areas where the cost of commuting and infrastructure does not overshadow the lifestyle benefits of suburban dwelling.

Conclusion

You’ve seen the myriad opportunities that Canada’s suburban real estate market holds. With the right approach, you can navigate this landscape successfully. 

Remember, your ability to conduct thorough research and forge strong local connections will set you apart. Harnessing the power of targeted marketing and the latest real estate technology will further enhance your prospects. By focusing on the unique appeal of each suburb, you’ll be well-equipped to capitalize on the potential that lies in these burgeoning communities. As you move forward, keep these strategies in mind to thrive in the dynamic world of suburban real estate.

CREW Editorial

www.canadianrealestatemagazine.ca