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Commercial Rent Deferment Agreements In Light Of COVID-19

In a typical commercial lease the tenant is required to continue paying rent, "without abatement, set-off or deduction," throughout the lease term, except in circumstances of material damage or destruction. That continuous rental obligation usually extends to circumstances where the leased premises, and/or the project of which it forms a part, is closed by governmental shutdowns. This has happened in several provinces in order to address the COVID-19 pandemic.

UPDATED: Member COVID-19 FAQ - Provincial Shutdown & Real Estate

NEW Q: Are home inspectors and property appraisers considered an essential service and are they still operating?

Luxury home prices jump in some parts of Canada-as-boomers-young-execut

Prices of luxury homes in the main cities of Eastern Canada rose during the past year while they fell in Western Canada, in part reflecting regional disparities and overheated markets, according to real estate company Royal LePage.
Limited supply in high demand areas such as Greater Montreal drove the median price of a detached luxury home there by 8.5 per cent over the 12 months to Jan. 31 to $1.85 million. The corresponding amount was a 1.2 per cent gain in Greater Toronto to $3.63 million and a 6.7 per cent drop in Vancouver to $5.39 million.

Toronto to explore tax targeting vacant storefronts

A busy 2.3-km section of Queen Street East is home to 44 vacant stores.
Not just stores. There are lots of empty buildings, but typically the rents landlords were asking for are above what would be reasonable.
One needs to make a ton of money in order to put that kind of investment into a property.
Some of the property owners are simply holding out for a tenant willing to cough up rent well above market value. 

Real estate market during the SARS crisis ...

The coronavirus panic is affecting many businesses, businesses area et.
The vita question for our industry, clients, and customers is the one regarding the market situation in GTA.
For the results - we will have to wait.

Ii the meantime - I am attaching the real estate market situation in GTA during the SARS crisis and panic:

 

FINTRAC Terrorist Properties Lists Unavailable

 Gov. Rel. News   

The Office of the Superintendent of Financial Institutions (OSFI) has ceased publication of two lists that are used by REALTORS® to determine whether their clients are terrorists or terrorist groups for the purposes of satisfying their FINTRAC Regime obligations. 

Suspicious Buyer Lead

 Member Alerts   

Malls for sale by Ivanhoe Cambridge

Real estate is changing with business models changes ...
Besides a sale, the Caisse's real-estate unit, Ivanhoe Cambridge, will consider transforming malls with everything from residential housing to logistics space.

Canada’s second-biggest pension manager is preparing to sell a third of the shopping centres it owns in its home market as e-commerce finally starts to bite the country’s brick-and-mortar retailers.

Toronto housing crisis

Oops - the politicians screwed it up again:
We have a housing crisis because there aren’t enough houses. It’s that simple, though policymakers don’t seem to understand that.
Unfortunately, they have misdiagnosed the problem. They have attacked only the demand side of the housing crisis when the real problem is a lack of supply.
Supply has not kept up with the GTA’s rapid population growth.

Toronto - The Great

When Cyril Borovsky bought a 16-foot-wide strip of land in Toronto sandwiched between two bungalows, he knew the only way to fit more than one bedroom on the tiny footprint was to think cubically. Using a steel frame and performing much of the work himself- with just a boom lift and makeshift pulley-, he went up four floors.

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