December 2019

short term rentals

Important: Update for Short Term Rentals City of Toronto

On December 7, 2017, and January 31, 2018, City Council approved regulations for short-term rentals in Toronto. The new rules, which require short-term rental companies to obtain a licence and short-term rental operators to register with the City and pay a Municipal Accommodation Tax (MAT) of 4 per cent, were set to come into effect on June 1, 2018. However, the City’s zoning bylaw amendments to permit...

mortgage rates

Bank of Canada’s overnight lending rate

The Bank of Canada’s overnight lending rate will end the year exactly where it started—unchanged at 1.75%. As was widely expected, the Bank of Canada decided once again to leave rates on hold as it continues to assess the need for monetary policy easing given a strong domestic economy against a background of global headwinds. The BoC’s Governing Council noted that the Canadian economy continues to...


Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,090 sales through TREB’s MLS® System in November 2019 – a 14.2 per cent increase compared to November 2018. On a GTA-wide basis, sales were up year-over-year for all major market segments. Annual sales growth in ground-oriented home types, including detached houses, led the way. New...

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