CFAA Congratulates the Winners and Finalists in its 2022 Awards The CFAA Awards Dinner was attended by 265 people, a CFAA record. Attendees enjoyed the review of the finalists and announcement of the winners in almost 20 awards categories. CFAA congratulates all the winners and finalists! View the full list here.
Only 2 weeks left to apply for CFAA Awards! Time is running out to submit your application for CFAA's Rental Housing Awards Program. If you haven't already, start preparing and submitting your applications to receive recognition for excellence in Canada's rental housing industry. Applications close in two weeks! Submissions are due Thursday, March 10, 2022, at 11:59 midnight PST. CFAA's awards are open to rental housing providers and suppliers that are members of CFAA (either directly or as rental provider members of CFAA- member associations). For more details about the eligibility criteria, our 10 awards categories, or to submit your application, click on the [...]
UPDATE ON CMHC’S NEW USE OF FUNDS RULE FOR INSURED BORROWING Background As CFAA reported on June 2 and June 17, CMHC ruled on May 28 that its mortgage insurance cannot be used for upward re-financing to take out equity from rental properties of 5 units or more. Generally, equity can only be taken out (using insured funds) on the first insured financing of a new residential rental building, or after a purchase closed with uninsured funds and equity. In all situations, uninsured funds (“conventional funds”) can be used to take out equity, but that is more costly than [...]
Canada’s new Housing Supply Challenge CMHC is currently developing Canada’s first Housing Supply Challenge, a $300M competition announced in Budget 2019 to seek and to help implement new ideas to reduce the barriers associated with the creation of additional housing, and especially affordable or mixed income housing. The program is likely to be divided into several categories. Possible categories include intensification while enhancing quality of life,Northern housing, housing data and others. The ability to replicate proposals will likely be an important criterion in the competitions. The first round of the competition is expected to be announced in June 2020, with [...]
CFAA Rental Housing Conference Oops! The CFAA Rental Housing Conference Link has changed. Please visit www.cfaa-fcapi.org/events-awards/cfaa-rhc/ for the most up-to-date information on CFAA-RHC.
Housing spending under the National Housing Strategy The new Minister of Families, Children and Social Development is Ahmed Hussen, who was formerly the Minister of Citizenship and Immigration. Broadly speaking, he is mandated to deal with three main housing policy areas. Building and renovating housing under the NHS Minister Hussen is to continue to build and renovate housing through the National Housing Strategy (NHS). That includes the repair and expansion of community housing, supportive housing and shelters, and low-cost financing for new rental construction, with some affordability component. For rental developers, the value of housing subsidies and low-cost financing delivered [...]
CFAA Awards Program 2020 – Open for Applications CFAA is proud to announce that the 5th annual Rental Housing Awards Program is open for applications. Awards finalists and winners will be announced at the CFAA Awards Dinner on June 9, 2020, at CFAA-RHC in Halifax. CFAA is continuing its simplified and expanded eligibility rules and the application portal that were both introduced in 2020. Awards CFAA is offering 10 awards categories in 2020. CFAA Suppliers Council members, direct landlord members and landlord affiliate members (landlord members of one of CFAA’s 11 member associations) are invited to apply for these awards: [...]
Proposed interest limitation rules could devastate rental housing By John Dickie, CFAA President In the two most recent issues of National Outlook, CFAA warned readers of the risk of an increase in the capital gains inclusion rate, based in part on the potential influence of the NDP. Now rental housing providers face a new, even more serious risk, from a different source. The Liberal Party election platform proposed to expand the application of the limit on the interest that corporations can claim on borrowings to finance their operations. According to well-known economist Jack Mintz, Finance Department officials have been eyeing [...]
At CFAA-Rental Housing Conference 2020 in Halifax, Nova Scotia, CFAA’s Building Innovations Tour will tour a number of exceptional new builds in Halifax’s booming rental market. One of the exceptional buildings featured on the tour will be the 2019 CFAA Development of Year finalist, the Alexander, from CFAA Direct Member, Killam Apartment Properties. Built on Historical Brewery Square, The Alexander is 22-storey, 239 unit rental development that was completed in Fall 2018. The Alexander blends old and new with its use of an ironstone base, a material used in many of the buildings around it, and an elegant and [...]
Canada’s rental housing providers now face a new challenge because of the October 21 election, and the campaign promise of the Liberal Party and the NDP. Currently 50% of capital gains are included in income for tax purposes. (The other 50% are not subject to income tax.) Fifty per cent is the capital gains inclusion rate (“CGIR”). That rate has applied since 1972, except for the period from 1988 to 2000 when the CGIR varied between 66.67% and 75%. In their election platform in September, the Liberals promised “a comprehensive review of government spending and tax expenditures to ensure [...]