New Standard Residential Lease coming into affect April 30, 2018

Starting April 30, 2018, landlords of most private residential rental units – from individual landlords to property management companies – must use the the standard lease template for all new leases.

Landlord and tenant rights and responsibilities remain the same under the Residential Tenancies Act, 2006 (RTA).

Purpose of the standard lease

The standard lease uses easy-to-understand language to help:

landlords and renters understand their rights and responsibilities

reduce illegal terms in leases and misunderstandings caused by verbal tenancy agreements

reduce the need for Landlord and Tenant Board hearings to resolve disputes

Who must use the standard lease?

The standard lease will apply to most residential tenancies in Ontario, including:

single and semi-detached houses

apartment buildings

condominiums

secondary units (for example, basement apartments)

Form Available: http://www.forms.ssb.gov.on.ca/mbs/ssb/forms/ssbforms.nsf/FormDetail?OpenForm&ACT=RDR&TAB=PROFILE&SRCH=&ENV=WWE&TIT=2229E&NO=047-2229E

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New Mortgage Rules for January 2018

People have been asking me about the mortgage changes coming January 2018. Basically means the bank will qualify you for less,  about $100,000 to $175,000 less  based on your income. This will probably start MID DECEMBER. Now is the time to purchase or sell, if you're concerned

OSFI will now put Stress Test to All Buyers

The government (OSFI: Office of the Superintendent of Financial Institutions) has decided to extend the " Stress Test" to include buyers with more than 20% down, as of January 1, 2018. What does this really mean? A small example would be that if today you qualified for a $600,000 mortgage plus your downpayment, after January 1st you would qualify for about $500,000 plus your downpayment. So if you are thinking of buying a bigger home, now is the time to do it. If you are thinking of selling your larger home and downsizing, run, now is the time to do it and you barely qualify for an area that you want to live in, run because you won't qualify after January 1, 2018. Call me for me if you have any questions or if I can help you achieve your real estate goals.

http://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/B20_dft_nr.aspx

34 Sonley Drive Whitby Ontario Canada

34 Sonley Drive Whitby Ontario Canada

263 Manvers Road Newcastle Cristian Vergara Realtor Clarington Durham R...

OPEN HOUSE. SUNDAY APRIL 9TH FROM 1 PM TO 4 PM

18 Dolby Cres, Ajax,

$1,099,000

One Of The Most Beautiful & Upgraded Homes I Have Seen. Hundreds of Thousands In Upgrades. Prestigious Imagination Neighbourhood. Designer Chef's kitchen, great for Entertaining. No Detail Has Been Left Out.Top Of The Line Appliances & Window Coverings.10'Ceilings On Main floor & Windows To Match. Incredible Trim & Crown Mouldings Throughout. Basement Recently Professionally Finished with luxury bathroom & Bar, includes separate entrance. Top Of The Line: Stainless Steel Fridge, Counter Gas Cooktop, Built-In Oven, Built-In Microwave, Front Loader Washer/Dryer, Inground Sprinkler System.