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Update on CMHC’s New Use Of Funds Rule For Insured Borrowing

2020-08-04T08:49:40-04:00

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 [...]

Update on CMHC’s New Use Of Funds Rule For Insured Borrowing2020-08-04T08:49:40-04:00

Canada’s new Housing Supply Challenge

2020-07-08T16:29:22-04:00

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 [...]

Canada’s new Housing Supply Challenge2020-07-08T16:29:22-04:00

CFAA-RHC 2020: Building Innovations Tour

2020-03-18T11:08:39-04:00

CFAA-RHC 2020: Building Innovations Tour CFAA Rental Housing Conference 2020, taking place from June 8 to 10 in Halifax, will begin with the Building Innovations Tour, in the afternoon of Monday, June 8, 2020. The Building Innovations Tour will tour some exceptional new rental buildings in downtown Halifax. Maple by Southwest Properties Maple by Southwest Properties, winner of the 2018 Rental Development of the Year at the CFAA Rental Housing Awards, will be featured on the CFAA Building Tour this year. This newly built piece of the Halifax skyline, located in the downtown core, is home to 300 rental [...]

CFAA-RHC 2020: Building Innovations Tour2020-03-18T11:08:39-04:00

Housing spending under the National Housing Strategy

2020-03-05T10:10:43-05:00

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 [...]

Housing spending under the National Housing Strategy2020-03-05T10:10:43-05:00

CFAA Awards Program 2020 – Open for Applications

2020-03-30T15:20:57-04:00

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: [...]

CFAA Awards Program 2020 – Open for Applications2020-03-30T15:20:57-04:00

Proposed interest limitation rules could devastate rental housing

2020-07-08T16:29:00-04:00

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 [...]

Proposed interest limitation rules could devastate rental housing2020-07-08T16:29:00-04:00

CFAA Building Tour Spotlight

2020-01-10T15:48:03-05:00

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 [...]

CFAA Building Tour Spotlight2020-01-10T15:48:03-05:00

A Key New Risk Facing Rental Housing Providers

2020-07-08T16:26:12-04:00

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 [...]

A Key New Risk Facing Rental Housing Providers2020-07-08T16:26:12-04:00

Join CFAA’s Direct Membership

2019-12-17T15:08:33-05:00

After the October 21 election, CFAA will have a critical window to build key relationships with the new or renewed government. As the voice of Canada’s rental housing providers, it is critical that CFAA maintains constant communication with the federal government and CMHC about landlords’ needs and interests, as well as the value that rental housing provides to the economy and people of Canada. CFAA is now engaged in a direct membership drive to increase the work we can do for the rental housing industry at this critical time. Along with the continued involvement of member associations, CFAA will consult [...]

Join CFAA’s Direct Membership2019-12-17T15:08:33-05:00

CMHC Housing Conference – presenting progressive views

2020-07-08T16:24:17-04:00

As well as continuing to provide mortgage insurance and rental market reporting, CMHC is reorienting its work and operations to focus more on affordable housing. CMHC’s new goal is that “by 2030, everyone in Canada will have a home they can afford and that meets their needs.” In November 2018, CMHC held a large two day Housing Conference, covering a broad range of housing topics, including numerous speakers who offered progressive views on many important issues related to rental housing. Many for-profit rental housing providers would take issue with some of the ideas the invited speakers put forward, or [...]

CMHC Housing Conference – presenting progressive views2020-07-08T16:24:17-04:00

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