9 weeks until NEW CFAA Awards entry deadline – April 13 (INSTEAD OF MAY 13) CFAA is proud to announce that the 6th annual Rental Housing Awards Program is now open! Take a look through CFAA's Awards Brochure for 2021, to prepare the applications you'll want to put forward this year. Apply Today Please note: The application deadline has changed from what was previously released in the Awards Brochure. The NEW deadline is Tuesday, April 13, 2021, at 11:59 pm PDT. CFAA is continuing its simplified and expanded eligibility rules and application portal that were introduced in 2020. To [...]
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News Release Recent changes temporary - Governments need to make the tax and development climate better for rental investment According to CMHC, the average rental vacancy rate in major centres across Canada increased from 2.0% in October 2019 to 3.2% in October 2020. According to CFAA’s members, vacancy rates generally increased in the city centres and university towns, while staying flat in suburbs and in smaller centres which do not serve universities or colleges. CFAA President, John Dickie, says, “Despite the increase in vacancy rates due to COVID-19, there remains an underlying shortage of rental housing, especially in Greater Toronto [...]
CFAA Awards Program 2021 Coming Soon! CFAA is proud to announce that the 6th annual Rental Housing Awards Program will be opening for applications soon. Take a look through CFAA's Award Brochure for 2021, to start thinking about what applications you'll want to put forward this year. Awards Brochure CFAA is continuing its simplified and expanded eligibility rules and application portal that were both introduced in 2020. To confirm your eligibility before starting your application, please email CFAA at email@example.com or by taking the Eligibility Self-Assessment. Stay tuned, as the Application Portal will open soon! [...]
Everyone at CFAA wishes you and yours a wonderful holiday season and a happy New Year! Please note that our office will close for the holidays at 4:30pm EST on Friday, December 18 and will re-open at 8:30am EST on Monday, January 4. What is coming up in 2021? Webinars CFAA plans to host a webinar series in Spring 2021 (from mid-March to early June), but dates are still to be finalized. If you are interested in participating in, or sponsoring, one or more of CFAA's webinars, or if [...]
International Day of Persons with Disabilities – what rental housing providers can do Today is International Day of Persons with Disabilities, a day when we, as rental housing providers, should reflect on the important role we have to play in ensuring the rights and well-being of persons with disabilities. For-profit rental housing provides much of the housing for people with disabilities in Canada. Besides bearing in mind our legal responsibilities under the Human Rights Code of each province, we should remind ourselves how much people with disabilities rely on our support, whether it be for unit repairs or renovations, or [...]
What does the Fall Economic Statement mean for rental housing providers? Finance Minister Freeland delivered the Fall Economic Statement on November 30. The main areas on which the Statement affects rental housing providers are the following: Rental Construction Financing Initiative (RCFI) Energy subsidies A small expansion of the First Time Homebuyers incentive No new taxes on rental investments Rental Construction Financing Initiative (RCFI) The government has announced another $12B of loan support for new rental construction under the Rental Construction Financing Initiative (RCFI) over the next seven years. That is [...]
Future proofing your business with effective energy and water management strategies On Tuesday, November 24, starting at 3:00pm Eastern Time, CFAA will be presenting a very knowledgeable panel, consisting of two prominent rental housing providers, and three leading industry suppliers. Register Now The rental providers: are at the forefront of monitoring, managing and minimizing the use and cost of electricity, heat and water, have seen it all (well almost all), and together have more than 50 years experience doing it. The rental housing suppliers: are at the forefront of enabling rental providers to monitor, manage and minimize the use [...]
Register for "Technology Updates for COVID-19 and beyond" The fifth webinar in CFAA’s Fall 2020 Webinar Series, Technology Updates for COVID-19 and beyond, is next Wednesday (November 18)! The webinar will take place for one hour starting at 3:00 pm EST (12:00 noon PST, 1:00 pm MST, 2:00pm CST, 4:00 pm AST). The COVID-19 pandemic has undeniably caused tremendous shifts in operations, strategy and service in the residential real estate sector. Companies have undertaken spectacular efforts to protect residents and staff and forge ahead with leadership vision and the unwavering focus on safety, efficiency and service. So, what now? [...]
Take care NOW to maintain your access to CMHC-insured funds As a result of CMHC’s mortgage insurance changes announced on May 28, rental housing providers need to take new steps if they want to maintain maximum access to CMHC insured funds. The new rule is that CMHC insurance can no longer be used to insure funds which include equity take out from rental housing, except for the first insured financing for a newly constructed rental building. Generally, insured funds must be used for permitted purposes, which include the purchase of rental housing, capital repairs to rental housing, and construction of [...]
CFAA's current lobbying As you know, CFAA’s main lobbying issues are housing policy and tax policy as they affect rental housing property, at the federal level. CFAA is meeting with the new Finance Minister’s office about both key policy areas. We are also to make a presentation to the federal Finance Committee about Budget 2021. Key areas under the Finance Minister include: COVID-19 RELIEF 1: Accelerate the delivery of the Canada Housing Benefit (CHB) or other forms of rent subsidy, especially to deal with arrears built up due to COVID-19 2: A tax credit to help badly affected rental housing [...]