Real Estate Lawyers Woodbridge, Ontario

Toronto’s rental market is dominated by low supply and high demand, which should mean rents  keep rising in future. Toronto is the most expensive rental address in the GTA, but North York, Mississauga, and Oakville are decent runners-up, well worth a look. Size-wise, bachelor units score the highest rents per square metre. 

Record-breaking immigration and temporary migration into the city continue to place pressure on what units exist, explaining why furnished  units are so popular. Urban workers and postsecondary students who fled the city in 2020 are returning too. The combination is positive for landlords, who saw what blogTO called “stratospheric” rent increases in early 2022.

Historically speaking, a RE/MAX analysis of pre-COVID condo investments (2015 to 2019), found an average 13% year-over-year gain for investors. Even with more conservative gains of 5% to 10% annually, investors stand to win by buying underpriced units, targetting transitional neighbourhoods, or following transit lines. A real estate business advisor can calculate specific returns on investment (ROI) for you.

They can and do. Second mortgages take second priority if a lender exercises their power of sale (forecloses). That’s part of the reason second mortgage interest rates are higher. Second mortgage lenders collect on whatever proceeds, if any, are left after the first mortgage, legal fees, realtor commissions, or other expenses are paid. 

Alternatively, the second mortgage holder can buy out your first mortgage, and collect the whole sale proceeds.

Get advice on dealing with mortgage default.

Buying on a busy street has advantages.

1. You could get more home for less money. Homeowners in noisy, high traffic areas may be open to offers.
2. Realtors say busy streets have less crime. Vehicle and pedestrian traffic from nearby businesses make it harder for thieves to go undetected.
3. Fewer door-to-door solicitations. Magazine salespeople and con artists may be less attracted to streets with police patrols or frequent passersby. A California realtor says her colleagues spend less time soliciting new clients on busy streets. They can make a quicker profit in a quieter location.
4. Best reason yet: Neighbours are less likely to complain about noisy children or pool parties.

Homeowners can agree to share a driveway on both or one parties’ property. That’s the best case scenario. Otherwise, short of building a fence down the middle, a prescriptive easement can be sought from an Ontario court. Proving who owns the right to use the driveway can be tricky. The applicant must show they’ve used the driveway for at least 20 years without the other party’s permission, and need an easement to enjoy continued normal use of the driveway. If the court agrees, the applicant receives a land grant. That requires both parties to share the driveway, with or without consent.