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To enhance your buying and selling experience, it’s our job as real estate professionals to provide you with as much valuable information as possible. It is essential that the buyer or seller be aware of all aspects of the real estate market before making a major decision.
Application Forms Now Available (Feb 14)
Today, the City of Waterloo has posted their Application forms for any class of licence.
The application and any additional forms are available on the City of Waterloo website at http://www.waterloo.ca/rhlr
Waterloo Rental Bylaw begins April 1, 2012 (Dec 20)
The City of Waterloo's Rental Housing licensing program begins April 1, 2012. Those wanting to apply for a licence on April 1, 2012 should contact the Electrical Safety Authority in advance to arrange for inspection and obtain their certificate.
Electrical Safety Authority can be contacted at www.esasafe.com or by calling 1 877-372 7233.
Applications for rental license can include passed ESA certificates completed within 6 months of submission.
If you have any further questions please contact the City of Waterloo 519-747-8587 or at rental@waterloo.ca. Information on your local Heating, Ventilation, and Air Conditioning contact will be available in the upcoming weeks.
The City of Waterloo is hosting 15 workshops to assist with those wishing to apply for a residential rental licence.
Lions Room 200, Waterloo Memorial Recreation Complex
101 Father David Bauer Drive, Waterloo
Tuesday February 14, 2012
Wednesday February 15, 2012
Thursday, February 16, 2012
Tuesday, February 28, 2012
Wednesday, February 29, 2012
Sessions run each day from 1 p.m. to 3 p.m., 4 p.m. to 6 p.m. and 7 p.m. to 9 p.m.
Space is limited to 30 participants per session. Register for the session that you'd like to attend ASAP. Registration will be on a first-come, first-served basis. You must be registered to attend.
To register, email rental@waterloo.ca.
www.waterloo.ca/rhlr
Waterloo Residential Rental Housing Bylaw (May 10 )
On Monday, May 9th, Waterloo City Council passed a revised Rental Housing Licensing Bylaw. There were few wins, fewer losses, but many compromises in what was passed. The draft bylaw continued to evolve throughout the public consultation period, and highlights of what was passed on Monday include:
- Bedroom limits for class A or B homes increased from three to four.
- Class E licenses have been extended to 36 months (originally 18 months).
- Police checks will be required of all landlords, and renewed every five years thereafter (instead of yearly).
- Block licensing available for some townhomes held under a single ownership.
- All landlords will need to complete an online education session.
- Existing lodging houses will be grandfathered.
- Council directed staff to return with a revised funding model based on the changes on bedroom limits.
Detailed information, including the May 9 report, is available here.
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KITCHENER-WATERLOO: SAFE AND SOLID INVESTMENT
From Canadian Real Estate Magazine, March 2011 Issue
With a diversified economy, a growing population, superior post-secondary institutions and low vacancy rates, Kitchener-Waterloo offers quality investment opportunities for investors at all levels.
This 10 page article discusses important factors such as:
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Kitchener's economic makeover: protected by diversifiying its economy
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Learning Waterloo: characterized as a safe haven for real estate investors because of the consistent demand in its rental market
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Waterloo's economy: many local high-tech companies recruit it's graduates
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Following young trends: young people comprise a large portion of rental demand with roughly 70% of 1st time homebuyers living in rental units before they buy a home
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Changing regulations with Waterloo's rental-licensing landscape: city-wide proposed rental licensing program currently being drafted
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Waterloo Light Rail Transit (LRT): a new project set to start in 2012 which should boost property values close to train stations and improve commuting options for all residents
"This is a fantastic market in mind for a long-term investor. We have basically seen a 6%-a-year increase in values over the last 10 years."George Patton, president of the KW Real Estate Board says. "From an investor standpoint you're almost guaranteed to be in a community where your values are going to hold as long as you take care of the property."
If you are interested in receiving the entire article in PDF format please EMAIL ME.
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TOP 5 SAFE HAVENS...
From Canadian Real Estate Magazine, December 2008 Issue
A recent issue of Canadian Real Estate Magazine names Winnipeg, Kitchener-Waterloo, Barrie, Victoria and Moncton as the top five Canadian havens for real estate investors. The magazine article quoted experts as saying the top five factors needed to establish a "safe haven" were a diversified economy, increasing home prices, population growth, demand for rental properties and demographics that promote economic stability. It further quoted figures from the Canadian Real Estate Association showing these five locations have shown steady appreciation in home values with low volatility. In short, says one related article, people who buy homes or income properties in "safe havens" are pretty much guaranteed to make money.
If you’d like to know more about buying a secondary property for investment purposes or selling your existing investment property, then just give me a call. You’ll be glad you did!
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