Smoke Alarms and Landlords' Responsibilities

Have you ever wondered who is responsible maintaning smoke alarms in Ontario?

Well, in Ontario, as in many other provinces if not it all, the landlords are legally obligated to install and maintain smoke alarms. Furthermore, it’s not only prudent but also advisable to inspect each rental unit completely at least once a year. As the fines for the failure to comply with the Fire Code are enormous up to $50,000 for individuals or $100,000 for the corporations. And it should be high as the human lives are at stake, the statistics shows most fatal fires occur at night when people are peacefully asleep and very often victims of fire never wake up. Properly working fire alarm and carbon monoxide detectors will sound an alarm and give a family a precious time to save their lives.

Every year, usually on the anniversary date of their rental agreement, I remind my clients/landlords to perform an annual inspection of their rental properties. During this inspections, landlords should test smoke alarms, carbon monoxide detectors and other equipment for proper maintenance.

In addition, I totally recommend my clients/landlords when they test smoke alarms or carbon monoxide detectors, replace batteries or replace the units, they are best to have the tenant sign a form acknowledging the action taken. Moreover, the landlord should keep records of the dates of alarm testing, inserting new batteries or replacement.
Please do remember, according to the Fire Code every home in Ontario must have a working smoke alarm on every storey and outside all sleeping areas.

Worth to let you know that because smoke alarms are so important in ensuring safety, in Ottawa the Ottawa Fire Services will often perform proactive inspections. The fire department can inspect properties to ensure smoke alarms are installed and operational. When smoke alarms are absent, lack batteries or do not work, the fire department can impose fines on either landlords or tenants, depending upon which party has breached their obligation.

#SmokeAlarms #SmokeDetectors #OlesaIslamova


Property Purchasers Beware!

If you buy a property from a non-residents of Canada, you can be liable to pay HST and taxes on capital gains if you don't due your due diligence.
Because collecting taxes from someone living abroad, could be practically impossible. That’s why the Canadian tax system, frankly like any other tax systems around the world, has developed a special rule: If there is a gain from the sale of domestic real estate by a non-resident vendor, the purchaser of the property may be responsible for the capital gains tax.
How to avoid this trap, read the article, consult with your lawyer and make sure your realtor does a full due diligence.

Real Estate Lingo or What Does POTL mean?

The real estate industry lingo is full of abbreviations and special vocabulary reading which for many uninformed is like reading a foreign language. I will try to periodically write about some abbreviations which are incomprehensible to many even if they were written in simple English. Just yesterday, I was showing my clients a seemingly freehold property that has a POTL with a specific monthly fees associated with it. And for many this is where confusion starts since a freehold is not commonly thought of as having maintenance fees, correct? Not really!
In Ontario, we have a number of different types of arrangements for condominiums. One of those arrangements is called a “common elements condominium,” where there is a Parcel of Tied Land (POTL). With this type of condominium, each owner typically owns a piece of land and the building on it, but also has a partial ownership in the common elements. These common elements can include parking areas, access roads, sidewalks, parks, playgrounds, trails, beach, docks, etc.
As in a traditional condominium, owning a POTL means you’re responsible for your share of the expenses related to the operation and maintenance of the common elements. And your use of the common elements or amenities is also shared with other owners.
Remember: your property in this condo is permanently “tied” to the land of the common elements condominium, meaning your property cannot be sold separately from its interest in the condo corporation.
Best wishes,
Olesa Islamova, Real Estate Sales Representative | Realtor®

New Pre-Construction Projects

One of the many benefits working in a big and successful brokerage is having access to all pre-construction projects. Royal LePage Your Community Realty works only with reputable builders who value their reputation and stand by their promises.


Currently, I have a VIP access to the following pre-construction projects:

 Erin Square by Pemberton Group, Mississauga
 Television City Condos, Hamilton
 Ellie Condos by G Group Development, Toronto
 Sugar Wharf Condos by Menkes, Toronto
 Aqualuna Condos by Tridel, Toronto

Contact me for the information about prices, floor plans and other details.


Best wishes,

Olesa Islamova, Real Estate Sales Representative | Realtor®

Royal LePage Your Community Realty, Brokerage

Direct: 647.467.9477


New Construction on Eglinton Ave East, Toronto,

Welcome to CARDIFF on 492 Englinton Ave East! A 12-Story, 95 unit Condo Project.

Contact me for more information about floor plans & prices.
Deadline: April 28-29, 2018. 
Occupancy: Fall 2020

Developed by: Sierra Building Group. Interior Designer: Bryon Patton & Associates. Architect: RAW 
• Units range from 1 Bedroom to 3 Bedroom Plus Den 
• Townhomes from 2 Bedroom to 3 Bedroom + Den 
• Amenities: 24-hour concierge, party room, beautifully landscaped outdoor terraces, gym. 
• Maintenance fees range from $0.51 - $0.56 per sq. ft.
• Platinum Broker discounts: 
          $10,000 for 1 Bdr.+Den, 
          $20,000 for 2 Bdr. & 3 Bdr.,
          $30,000 for Townhomes.
• Capped development charges
• $10,000 discount for parking
• Free assignment (legal fees extra)
• Free right to lease during occupancy period. 
ATTENTION: We guarantee to find you a tenant for FREE.

 

 


Average Sales Prices for February 2018

It’s time for the Market Watch and for those who are betting on the real estate market and its ups and downs, here are your February sales prices.

The prices have not risen, the number of sales have fallen, the inventory of house is up.

What the Spring will bring us we’ll know pretty soon, so far it’s a BUYERS Market. What will the year bring us, we can predict with a slightest certainty. What will the future be for the real estate market in the GTA only charlatans know.

The economy of the GTA is pretty resilient and pretty diverse. Will the price collapse, I doubt. Will they continue their irrational escalation? No economical fundamentals behind it except for foreign buyers who despite new 15% foreign tax will still favour Canada for its relatively cheap currency. Let’s wait and see. My advice to those who need to sell-SELL. My advice to those who need to buy and can afford to buy—BUY. For others, gear your attention toward other financial needs.

 

CITY of TORONTO

Toronto-Central: Average Sales Price $892,378; Average Days on the Market 22; Number of Total Listings 1,994; Number of Sales 982

Toronto-East: Average Sales Price $742,410; Average Days on the Market 23; Number of Total Listings 831; Number of Sales 470

Toronto-West: Average Sales Price $709,850; Average Days on the Market 23; Number of Total Listings 987; Number of Sales 561

 

YORK REGION:

Markham: Average Sales Price $947,647; Average Days on the Market 28; Number of Total Listings 759; Number of Sales 184

Richmond Hill: Average Sales Price $977,885; Average Days on the Market 35; Number of Total Listings 689; Number of Sales 131

Vaughan: Average Sales Price $952,776; Average Days on the Market 25; Number of Total Listings 836, Number of Sales 223

Aurora: Average Sales Price $938,260; Average Days on the Market 28; Number of Total Listings 265; Number of Sales 57

Newmarket: Average Sales Price $744,316; Average Days on the Market 27; Number of Total Listings 343; Number of Sales 81

King City: Average Sales Price $1,100,750; Average Days on the Market 36; Number of Total Listings 151; Number of Sales 12

Stouffville: Average Sales Price $875,705; Average Days on the Market 28; Number of Total Listings 173; Number of Sales 39

East Gwillimbury: Average Sales Price $777,423; Average Days on the Market 47; Number of Total Listings 209; Number of Sales 30

Georgina: Average Sales Price $504,412; Average Days on the Market 27; Number of Total Listings 222; Number of Sales 48

 

PEEL REGION

Caledon: Average Sales Price $1,014,685; Average Days on the Market 29; Number of Total Listings 209; Number of Sales 58

Brampton: Average Sales Price $677,951; Average Days on the Market 24; Number of Total Listings 1,081; Number of Sales 485

Mississauga: Average Sales Price $655,804; Average Days on the Market 23; Number of Total Listings 1,036; Number of Sales 481

 

SIMCOE COUNTY

Innisfil: Average Sales Price $541,444; Average Days on the Market 41; Number of Total Listings 259; Number of Sales 31

Bradford: Average Sales Price $666,265; Average Days on the Market 31; Number of Total Listings 188; Number of Sales 48

Essa: Average Sales Price $564,833; Average Days on the Market 42; Number of Total Listings63; Number of Sales 15

New Tecumseth:Average Sales Price $568,147; Average Days on the Market 48; Number of Total Listings 160; Number of Sales 48

Adjala-Tosorontio: Average Sales Price $965,125; Average Days on the Market 83; Number of Total Listings 32; Number of Sales 8


MARKHAM SQUARE EAST TOWER has finally arrived!

MARKHAM SQUARE EAST TOWER has finally arrived!

Conveniently located in the heart of Markham & Unionville, one of GTA’s most coveted neighbourhoods! 

  • Perfect for Investors! Right across from the future home of York University’s New High-Tech Markham Campus! Over 4,000 students will be able to concentrate in eight different fields of study, including Arts and Media, Education, Information Technology, Engineering, Liberal Arts, Environmental Studies and Business.
  • Steps to Unionville GO Station, VIVA, YRT
  • Walk Score of 74 – Very walkable, most errands can be accomplished on foot (average Walk Score in Markham is 47).
  • Rouge National Urban Park, public and private schools, theatres, shopping and so much more!
  • Average Rental Rate in the Area: $2.38 psf (Source: Urbanation Rental Report)
  • Exclusive Amenities Include: 24-hour concierge, party room with gas fireplace, indoor-outdoor bar, lounge and dining area; beautifully landscaped outdoor terrace with barbecues; multimedia room with stadium seating; fitness club with spin studio and yoga/meditation room; furnished guest suite; and Wi-Fi throughout all amenity areas. 
  • Average Floor Premium: $1,000 per floor

 

Maintenance Fees

Approx. $0.52 psf + Internet

(Excludes Hydro, Water, Heat/Cooling,)

Parking Approx. $48.00/month

Locker Approx. $18.00/month

Occupancy Date

August 2021

Deposit Structure

$5,000 on Signing

Balance to 5% in 30 Days

5% in 120 Days

5% in 270 Days

5% on Occupancy

International Deposit

$5,000 on Signing

Balance to 10% in 30 Days

10% in 120 Days

10% in 270 Days

5% on Occupancy

PARKING INCLUDED*

(Valued @ $35,000)

*For Suites 582 sf and larger

LOCKER INCLUDED*

*For Suites 577 sf and smaller

LOCKER $4,500

(limited Supply)

Property Taxes Estimated at approximately 1%

Type Size                                        Range Approx. SQ. FT            Price Range
One Bedroom, Incl. Locker                 446 to 523                   $329,900 to $369,900
One Bedroom + Den, Incl. Locker      556 to 577                    $400,900 to $407,900
One Bedroom + Den, Incl. Parking     582 to 649                    $426,900 to $493,900
Two Bedroom, Incl. Parking                622 to 799                    $471,900 to $613,900
Two Bedroom + Den, Incl. Parking     798 to 931                    $591,900 to $711,900
Three Bedroom, Incl. Parking             1,157 to 1,198                 $796,900 to $826,900

 Best wishes,

Olesa Islamova, Real Estate Sales Representative | Realtor®

True Estate Team

Royal LePage Your Community Realty, Brokerage

Direct: 647.467.9477 /Office: 905.731.2000

Email: OlesaIslamova@gmail.com


New Listing MLS #N3940626

"Olde Town" Newmarket Jewel! Chic & Upgraded 3+1 Brm. House Overlooking Natural Forested Ravine in the Private Cul-De-Sac.

Features: Dark Maple Hardwood, Cork Floor in Kitchen, Brazilian Quartz C-Tops & Fireplace Mantel. Custom-Made Blinds, Maple Staircase, Custom-Made Railings, 2 Decks W/Custom-Made Wrought Iron & Glass Railings, Heated Floor in Master Ensuite, W/Jacuzzi, Jet Stream Shower, Cedar Sauna In Basement, No Sidewalk, Double Door, Modern Appliances, Custom Build-In Shelves & Wardrobe

Close distance to the Southlake Regional Health Centre, modern shopping area, 404, Go Transit and several parks.

http://www.homesbyolesa.com/755-john-cole-crt-n3940626

Contact Olesa Islamova for more information and viewings! 

 


GO.2-The Village of Maple

Living at GO.2 means never having to live without connectivity, culture and convenience. Connect with neighbouring urban style amenities, shopping centres, parkland and restaurants.

Located in the heart of the historic Village of Maple, residents can connect to downtown Toronto or towns across the GTA with walking distance to Maple GO station, YRT/ViVa Transit and easy access to the new subway line (currently under construction).

GO.2 Condominiums embody relaxation and rejuvenation, but excitement and adventure are never far in the Village of Maple. The beautiful architecture and thoughtful design make GO.2 stand out as an exquisite collection of condominiums, and the convenient location seals the deal.

Situated adjacent to the Maple GO station and minutes from highway 400, you can easily access all areas of the GTA. However, local amenities may have you staying closer to home. From the lush parks to the fine dining and shopping, why would you ever want to leave?

  • Developer: Pemberton Group
  • Location: At Maple GO station North West of Major Mackenzie Dr. and Dufferin Rd.
  • Architect: Award-winning Quadrangle Architects known for their creativity and innovation shown in the remarkable design of the sleek GO.2 condos.
  • Interior Designer: Interior design firm Tanner Hill is made up of 10 brilliant designers who work together to create homes that are artful, yet comfortable; contemporary, yet timeless, as seen in the GO.2 condominiums.
  • Statistics: 307 Units, 5 townhomes — 12 storeys
  • Amenities: Lobby, Fitness centre, Party Room with Catering Kitchen & Bar, Outdoor Theater, Dog wash

Estimated Occupancy Summer 2020

Extended Deposit Program: *Also available for international purchasers with a different structure.

  • $5,000 on signing
  • Balance to 5% in 30 days
  • 5% in 120 days
  • 5% in 365 days
  • 5% at rood completion
  • 5% interim Occupancy
    • Total 25% deposit.

Special Incentives: Free assignment, levies capped at $2,500, Free parking & locker for all suites.

Prices:

  • 1-Bdr; start from $372,000 for 610 sq.ft.
  • 2-Bdr; start from $544,900 for 855 sq.ft.
  • 2 Bdr+ Den start from $688,900 fro 1,145 sq.ft.
  • 3 Bdr. +Den start from $903,900 for 1,700 sq,ft.

Maintenance:

  • Units from 510-890 sq.ft. Approx. $0.55/sq.ft.
  • Units 935 sq.ft. Approx. $0.53/sq.ft.
  • Units from 1,085-1,225 sq.ft. Approx. $0.52/sq.ft.
  • Units from 1,305 sq.ft. Approx. $0.49/sq.ft.
  • Units from 1,380-1,420 sq.ft. Approx. $0. 47/sq.ft.
  • Units from 1,455 sq.ft. Approx. $0.46/sq.ft.
  • Units from 1,770-1,890 sq.ft. Approx. $0.38/sq.ft.

Includes: Heating & Cooling, Water, Common Area Upkeep, Building Insurance, In-suite Alarm, Landscaping, Snow Removal and Security

Excludes: Property Taxes, Hydro, Cable TV, Telephone, Internet Service, Maintenance of Parking ($37.50) & Locker ($7.00)

 Property Taxes: Approximately 1.00%

Contact Olesa Islamova for more information about development, floor plans, etc.


Unit for Lease at the Ultra-Modern Home Improvement Centre!

A fantastic, completely renovated corner unit for LEASE at Improve Centre, 7250 Keele St., Vaughan ON L4K 1Z8. This is the only unit of this kind still available for lease. 441 sq.ft. of retail space close to the food court, South and main entrance. Just move in and open for business!

Location is one of the most important requirements in the residential real estate. It’s a given that price drastically depends on the location of your house or condo. However, it is the same story in the commercial real estate. Locate your business in a place without foot traffic, convenient car traffic and ample of parking space and you will have troubles attracting customers to your business. Unless you spend thousands of dollars on advertising campaign and go bankrupt selling your products or services with huge discounts.

Do you know that in Europe a concept of placing businesses serving one or two industries under one roof is very popular. Here in Greater Toronto Area, we also have such a great and convenient innovative centre. Improve, Canada’s Largest Home Improvement Centre, has been recently opened, but it’s official Grand Opening is coming this month 29-30 April.

Improve successfully combines an idea of a permanent home show with the convenience of attracting customers a year-round. It’s 320,000 sq.ft. ultra-modern facility contains 401 units of businesses related to the home improvement and real estate industries. Without driving all over the GTA, the consumers can save time and energy by coming to the centre for all their needs related to the home improvement whether it’s buying a new kitchen, new appliances, furniture, décor, doors and windows or finding other professionals.

Located just minutes from the major Hwys. 400 and 407 and Hwy 7. Improve offers the facility of no match with plenty of parking space, food court, meeting rooms, conference rooms, theater, show and stage facilities and $1,000,000 of marketing budget per year.

 

Best wishes,

Olesa Islamova, Real Estate Sales Representative | Realtor®

Royal LePage Your Community Realty, Brokerage

Direct: 647.467.9477

Office: 905.731.2000

Visit www.HomesbyOlesa.com  for my latest blog posts

Please Do Like My Facebook page!