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CEBA Deadline Extended to October 31

2020-08-31T14:24:18-04:00

CEBA Deadline Extended to October 31 The government announced today that the deadline to apply to the Canada Emergency Business Account (CEBA) has been extended until October 31. Read the full press release here. CFAA will seek clarification of the application of CEBA to rental housing providers, and promote broader availability of that relief for rental owners and operators. For those corporations and businesses which qualify and apply, CEBA provides a loan of up to $40,000. The loan comes from your bank, but is guaranteed by the federal government. No interest is charged until December 31, 2022. If the [...]

CEBA Deadline Extended to October 312020-08-31T14:24:18-04:00

Last chance for CEBA is TODAY – August 31, 2020

2020-08-31T09:18:22-04:00

Last chance for CEBA is TODAY – August 31, 2020 As of today, the last date to apply for a Canada Emergency Business Account loan is today. For those corporations and businesses which qualify and apply, CEBA provides a loan of up to $40,000. The loan comes from your bank, but is guaranteed by the federal government. No interest is charged until December 31, 2022. If the loan is repaid by then, 25% of the loan is forgiven (usually $10,000). If repayment is not made by December 31, 2022, the loan begins to bear interest at 5%, and needs [...]

Last chance for CEBA is TODAY – August 31, 20202020-08-31T09:18:22-04:00

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

Congratulations to the CFAA 2020 Rental Housing Awards winners!

2020-07-06T18:10:21-04:00

Congratulations to the CFAA 2020 Rental Housing Awards winners! Earlier today, CFAA announced the winners of the 5th annual Rental Housing Awards. All the finalists and winners were outstanding rental housing providers, employees, suppliers and rental developers. We congratulate them all, and especially our winners! To view the complete list of winners and finalists, click here or visit the CFAA website. To view the video of the awards presentation, including a CFAA Update from CFAA Chair, Geoff Younghusband, click the link below. CFAA Awards Presentation CFAA asks for your feedback To help CFAA assess our awards presentation, and possibly bring you [...]

Congratulations to the CFAA 2020 Rental Housing Awards winners!2020-07-06T18:10:21-04:00

CMHC’s New Use Of Funds Rule For Insured Borrowing

2020-06-18T15:54:40-04:00

CMHC’S NEW USE OF FUNDS RULE FOR INSURED BORROWING Background On May 28, CMHC issued a notice to rental owners who have pending applications for CMHC mortgage insurance for re-financings under CMHC’s Multi-Unit Mortgage Loan Insurance (5+ units). Prompted by an acceleration in applications for refinancing, CMHC imposed a new restriction prohibiting the use of upward re-financings for equity take out. Under these new rules, upward refinancing proceeds can only be used for a permitted purpose which supports the provision of housing in Canada. See https://cfaa-fcapi.org/cmhcs-may-28-announcement/ for more details. CMHC’s clarifications On June 5, 12 and 15, CFAA met with senior [...]

CMHC’s New Use Of Funds Rule For Insured Borrowing2020-06-18T15:54:40-04:00

CFAA Rental Housing Awards Presentation only 1 week away!

2020-07-09T10:52:38-04:00

CFAA Rental Housing Awards Presentation only 1 week away! Just a reminder that if you have not yet registered for CFAA's Rental Housing Awards Presentation 2020 on Thursday, June 25 at 2:00pm EDT (11:00am PDT, 12:00pm MDT/CST, 1:00pm CDT, 3:00pm ADT), you only have one week left to do so! The awards presentation is free to view live, but you must register in advance. To register, please click the link below. Register to View the Awards Presentation Note: After you register through the CFAA website, you will be sent a link to the Zoom event. You must also register [...]

CFAA Rental Housing Awards Presentation only 1 week away!2020-07-09T10:52:38-04:00

Watch the CFAA Awards Presentation Live

2020-06-10T10:55:34-04:00

Watch the CFAA Awards Presentation Live CFAA will be holding an awards presentation via Zoom to celebrate the finalists and winners of the CFAA Awards Program 2020. CFAA Awards Presentation Date: Thursday, June 25, 2020 Time: 2:00pm EDT* *11:00am PDT, 12:00pm MDT/CST, 1:00pm CDT, 3:00pm ADT The awards presentation is free to view live, but you must register in advance. To register, please click the link below. Register to View the Awards Presentation Note: Please use the same email to register as you use for Zoom, to avoid needing to register twice. [...]

Watch the CFAA Awards Presentation Live2020-06-10T10:55:34-04:00

Access the recording of “CFAA Presents: Benjamin Tal”

2020-06-04T15:42:15-04:00

Access the recording of "CFAA Presents: Benjamin Tal" CFAA recently presented Benjamin Tal's economic update for May 27, 2020. The state of the economy is important for rental housing providers. Factors such as unemployment, immigration and non-permanent residents, and consumer spending, impact directly on rental demand, and thus on vacancies and rent levels. Interest rates affect the value of rental properties for any given level of net income. The presentation ends with comments about the varying impacts of COVID-19 across Canada's rental markets going into the future. Landlords can expect different impacts in Toronto and Vancouver from the impacts in [...]

Access the recording of “CFAA Presents: Benjamin Tal”2020-06-04T15:42:15-04:00

CMHC’s May 28 Announcement

2020-07-09T13:55:46-04:00

CMHC’s May 28 Announcement On Thursday, May 28, CMHC issued a notice to rental owners who have pending applications for CMHC insurance for re-financings in relation to CMHC’s Multi-Unit Mortgage Loan Insurance (5+ units). Prompted by an acceleration in applications for refinancing, CMHC imposed a new restriction on use of funds as a condition of insurance for market refinance loans. Under the new rule, refinance proceeds must be used for a permitted purpose in relation to residential housing. This could include one or more of the following: purchase, construction, capital repairs/improvements (including for increased energy efficiency and accessibility), securing [...]

CMHC’s May 28 Announcement2020-07-09T13:55:46-04:00

CFAA-FRPO Lobbying Success for Mixed-Use Landlords

2020-05-25T17:18:43-04:00

CFAA-FRPO Lobbying Success for Mixed-Use Landlords Canada Emergency Commercial Rent Assistance (CECRA) Of interest to landlords with ANY commercial tenants anywhere in Canada The federal government created the CECRA to help small businesses pay their commercial rents. With costs divided between them, the federal government and each provincial government will provide forgivable loans paid to qualifying commercial property owners to cover 50% of the April, May, and June rent payments for eligible small business tenants. The relief can be applied retroactively. Under the program, the tenant would pay at most 25% of rent, and the landlord must forego at [...]

CFAA-FRPO Lobbying Success for Mixed-Use Landlords2020-05-25T17:18:43-04:00
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