Category: Latest Industry Changes

Short-term rentals and Airbnb: What you need to know

What are the rules for Airbnb? Every city will set its own rules for renting out all or part of a property on Airbnb or other short-term rental websites. In Toronto, for example, it is expected that only a principal residence will be able to be used for Airbnb. You can either rent out up to three of your bedrooms, or you can rent out the entire home, up to 180 days per year. You will also have to pay $50 to register the unit with the city and charge a four-per-cent tax. Are guests considered t

Ontario alternative sector activity boosts private lender’s numbers

Alternative mortgage borrowing in Ontario propelled First National Financial Corporation’s Q1 figures, the company announced last month. First National’s new mortgage originations during the first quarter stood at $3.0 billion, a marked decline from the $3.4 billion during the same time last year ago. Among the most significant declines were in new single-family originations, which fell from $2.2 billion in 2018 to $1.8 billion this year. On the other hand, total mortgage renewals w

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