Tyler Suchan

RE/MAX River City

Cell 780-945-1318

Email: tylersuchan@gmail.com

Canadian Real Estate Wealth

Tuesday, April 22, 2025 5:35:12 PM UTC
BC Scales Back No-Fault Eviction Notice Period from Four to Three Months

In a recent legislative update, British Columbia has shortened the no-fault eviction notice period available to landlords from four months to three months when they, or their close family members, wish to move into the property.

Individuals who move into a unit following a personal-use eviction are required to occupy the premises for at least 12 months. Failure to meet this requirement, or engaging in bad-faith eviction practices, may result in penalties for landlords.

Landlords must use the online system to generate Notices to End Tenancy for personal occupancy. This requirement ensures that necessary details about the intended occupant are provided upfront and facilitates compliance reviews through systematic audits.

Restrictions 

Specific rules restrict the use of no-fault evictions in larger, purpose-built rental buildings, including those with five or more units that are not strata-titled or where a single owner holds a significant number of the rental units. These restrictions are in place to protect tenants in multifamily housing arrangements.

Background

Following a July 2024 measure that extended the notice period from two months to four months, which was aimed at affording tenants greater time to secure alternative housing, BC has now rebalanced its approach by reducing the notice period again – this time to three months. The goal was to provide property owners with greater flexibility while addressing concerns that the lengthier notice period was discouraging some from renting out properties.

The change reflects a policy recalibration intended to cater to both tenant needs and landlord considerations; it also aligns more with the three-month notice required in the case of homebuyers where there are existing tenants.

Broader Legislative Context and Related Amendments

In August 2024, amendments to British Columbia’s Residential Tenancy Regulation were made, affecting evictions related to homebuyers. Landlords acting on behalf of purchasers who intend to occupy a unit now must also provide a minimum of three months’ notice when ending an existing tenancy. 

This adjustment addresses concerns that a four-month notice period was causing difficulties for first-time homebuyers, particularly those requiring insured mortgages that demand vacant possession at closing.

For notices served under the homebuyer context, the window for tenants to dispute the eviction has been reduced from 30 days to 21 days. These changes aim to streamline the process while accommodating the needs of buyers and ensuring a smoother transition.

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Legal Requirements for Secondary Suites in Canadian Provinces

Secondary suites – self‑contained living units within a home – are growing in popularity as an affordable, gentle‑density option across Canadian communities. They can be an excellent way to generate additional income. However, property owners need to be aware of relevant regulations and restrictions. The provincial or territorial building codes, which set the technical safety and construction standards, and the municipal zoning bylaws, which dictate where and under what conditions suites may exist need to be followed. 

Navigating these overlapping requirements can be daunting, so homeowners are strongly encouraged to engage early with municipal planning staff, architects or code consultants to interpret the rules that apply to their property.

A Common Technical Foundation

Virtually every province and territory in Canada has adopted some version of the National Building Code of Canada (NBC), often with local amendments, thereby establishing a baseline of technical requirements for any secondary suite project. At its heart, the code ensures that each suite is self‑contained (with its own kitchen, sleeping area and washroom), provides adequate fire resistance, maintains safe egress (doors or properly sized windows), and incorporates hardwired smoke and carbon monoxide alarms. Plumbing, electrical and mechanical systems must comply with the safety code standards, and ceiling heights generally cannot fall below a minimum of 2.0m in most living areas, although Ontario permits a height of 1.95m in basement suites.

British Columbia

In British Columbia, the BC Building Code carves out specific provisions for secondary suites, recognizing them as an “accessory” use within a principal dwelling. Certain key provisions apply:

  • A suite must be a complete living unit, under the same title as the main dwelling.
  • Fire‑resistance assemblies (walls and ceilings) must meet specific requirements.
  • Egress windows must meet minimum sill height and opening size requirements.
  • Smoke and carbon monoxide alarms must be hardwired into the building’s electrical system and interconnected.
  • Building, plumbing, electrical and mechanical permits are mandatory.

Once code compliance is assured, each municipality’s zoning bylaw determines exactly which residential zones may host suites, often single‑detached and certain attached dwellings, and whether parking stalls or other site controls are required.

Alberta

Alberta follows the same two‑tier approach. The NBC – Alberta Edition mandates that every secondary suite be fully self‑contained, including separate heating and ventilation systems (for example, two furnaces or dedicated ductwork solutions), and meet fire‑resistance, egress and alarm‑system standards under the Alberta Safety Codes Act. 

Municipal land‑use bylaws then decide where suites are authorized. In Edmonton, for instance, any house zoned RF1 may accommodate one secondary suite if floor plans satisfy egress‑window dimensions and a separate entrance is provided; Calgary’s Land Use Bylaw offers similar provisions for zones, requiring a building permit regardless of when the suite was constructed.

Ontario

Ontario’s provincial policy tools (the Planning Act and the Provincial Policy Statement) actively encourage municipalities to permit second units in detached, semi‑detached and rowhouse neighbourhoods. 

The Ontario Building Code defines a second unit as a subordinate, self‑contained dwelling with its own kitchen, bathroom and sleeping space, and sets out detailed standards: minimum room and window sizes, one‑hour fire separations between units, interlinked smoke/carbon‑monoxide alarms, and separate water‑shutoff valves. 

Municipal zoning bylaws then specify exactly which neighbourhoods may host these units and often require a pre‑application review to confirm parking, lot coverage and heritage overlay requirements.

Québec

In Québec, self‑contained accessory units, or logements accessoires, must satisfy Québec’s Construction Code, which references the NBC for fire separations, egress and alarm requirements. Municipal zoning bylaws in Montréal, Québec City and other municipalities then govern which residential districts allow accessory units and set size or owner‑occupancy rules.

Prairies and Atlantic Canada

Similarly, Saskatchewan and Manitoba adopt NBC‑based provincial codes for unit safety and construction, while municipalities—through land‑use bylaws—define permitted zones, parking ratios and maximum suite sizes. In the Atlantic provinces (New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland & Labrador), provincial building regulations set the technical bar, and local planning authorities regulate siting and occupancy.

Practical Steps Toward Compliance

Because secondary suites straddle provincial code and municipal zoning domains, it is important to be clear on all requirements that affect your property.

Early Engagement

Contact municipal planning and building departments with draft site and floor plans to verify zone permissions, parking requirements and any heritage or environmental overlays.

Professional Collaboration

Retain architects, designers or building code consultants who understand both the technical code provisions and local bylaw intricacies. They can provide permit‑ready drawings and specifications for a smooth approval process. Consult with legal professionals as required.

Permitting

Secure all required permits—building, electrical, plumbing and mechanical—before breaking ground. Inspections at the foundation, framing, fire separation and final stages ensure all work meets the code.

Detailed Documentation

Keep fire‑separation assemblies, egress‑window sizes, ceiling height measurements and alarm installation details on record to demonstrate compliance, particularly if questions arise during an inspection.

By consulting with professionals and carefully complying with common technical requirements of the National Building Code (and its provincial iterations), as well as the relevant municipality’s tailored zoning rules, property owners can create safe, legal secondary suites that expand housing supply while respecting community plans. For site‑specific guidance, from registration processes to heritage overlays and parking waivers, it is critical to always get input from municipal authorities and qualified professionals before proceeding.

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Ottawa’s Planning Primer: Land-Use Planning Education Sessions for Property Owners, Developers, Real Estate Agents, and Other Stakeholders

Ottawa’s Planning, Development and Building Services Department has launched an innovative, free educational service designed to empower residents with in-depth knowledge of the city’s land-use planning process. The new Planning Primer sessions provide an accessible platform for individuals interested in understanding and engaging with the complexities of urban planning. 

Anyone looking to buy, sell, renovate, or develop property in Ottawa will find these sessions particularly valuable. They’re also beneficial for individuals living or working near development sites who want to better understand how proposed projects may affect their community. With a comprehensive curriculum that delves into the legislative and policy framework governing land-use decisions, these sessions serve as an essential resource for both newcomers and seasoned professionals in the field. 

The core course at the heart of the Planning Primer offers a detailed explanation of how planning policies are formulated and amended. Participants learn about the various legislative requirements and policies in Ottawa that shape development applications and influence everyday urban growth decisions. This in-depth exploration of planning regulations is particularly beneficial for homeowners, prospective buyers, real estate agents, and developers who seek clarity on the processes that impact property transactions, renovations, and new construction projects.

Offered as virtual workshops, the sessions are scheduled to occur four times a year, ensuring ongoing access and engagement for the community. Interested participants can register to ensure they receive the latest updates and notifications about future primers. Registration operates on a first-come, first-served basis and opens two weeks prior to the session date.

Led by experienced planning staff, each workshop not only presents the core materials but also encourages an interactive dialogue through dedicated question and answer periods. Electronic copies of the course materials are emailed to participants after the sessions, further supporting continued learning and reference. 

In addition to the main course, the department occasionally offers elective workshops that focus on specialized planning topics such as Development Charges, Residential Intensification and Infill, Heritage Planning, Secondary Planning Processes, Natural Systems, and Planning for Healthy Communities. These electives allow residents to dive deeper into specific areas of interest, broadening their understanding of the many facets of urban development.

By offering these free educational sessions, Ottawa aims to build and maintain a strong, collaborative relationship with its communities while equipping stakeholders with key tools and insights. Whether individuals are directly involved in property development or simply curious about the factors influencing their surroundings, the Planning Primer sessions can help interested stakeholders stay better informed. 

For more detailed information, visit the City’s Planning Primer webpage.

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Toronto Defers Development Charges on 3,000 Condo Units to Stimulate Construction

Toronto City Council has approved a program to defer development charges on up to 3,000 near–show–ready condo units, providing an immediate fiscal reprieve for developers and aiming to stimulate housing construction in a cooling market.

This deferral of development charges could provide a modest, short-term relief measure that may improve the financial profiles of near–shovel-ready condo projects. By delaying tax costs, estimated to save roughly $19,000 per unit upfront, developers might have greater liquidity to advance construction, which could help stabilize market activity. However, it is important to note that the savings are deferred rather than eliminated, with the full charges due at a later date without interest. 

Affordable Housing Requirements

Under the new initiative, qualified developments must include a modest percentage of affordable housing, with projects incorporating a higher proportion of affordable units receiving priority. City staff estimate that, on average, the deferral will save developers approximately $19,000 per condo unit. This saving is achieved by postponing the payment of development charges, which normally range between $52,000 and $80,000 per unit depending on the number of bedrooms. No interest will accrue on these deferred charges.

Scope

The program specifically targets projects that are already well advanced in their development process (“near-shovel-ready”), ensuring that the initiative directly contributes to releasing stalled projects. City officials hope this measure will accelerate construction, thereby helping to mitigate further declines in Toronto’s housing starts, which have seen a significant downturn.

Financially, the plan represents a commitment by the city to absorb more than $180 million in deferred revenues. Additionally, by waiving the interest that would normally be generated on these funds, the city anticipates a potential revenue loss of up to $28 million over the course of four years. 

Bolstering Against Uncertainty

The approved measure comes at a time when the local housing market is facing heightened uncertainty. With the slowdown in housing starts raising concerns about meeting the demands of current and future residents, the program is viewed as a strategic intervention to unlock new development. In doing so, it directly supports the creation of owner-occupied homes, bolstering both the housing supply and the local economy. There has also been discussion that measures like this could provide some protection against the impacts of tariffs.

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Palm View at Coral Golf Resort: Combining Lifestyle, Location, and Investment Potential

A new development which will be set within the serene beauty of Cabeza de Toro in Punta Cana, Palm View at Coral Golf Resort represents a rare convergence of luxury, investment potential, and an unparalleled lifestyle. Occupancy is expected for June 2027.

Developed by a trusted company, the Entorno Group, with a history of delivering high-quality communities across the Dominican Republic, this contemporary development offers an unmatched opportunity. With competitive pricing, exceptional amenities, and strategic tax advantages, Palm View appeals to investors, residents, and travellers alike.

Strategic Location at the Heart of Punta Cana

I have personally invested in properties in Punta Cana, because of its tourism-driven high demand and other benefits that the Dominican Republic offers real estate investors, including favourable tax policies.

Palm View is perfectly positioned within the master-planned Coral Golf Resort, just 10 minutes from Punta Cana International Airport. This ideal location makes it convenient for property owners and renters, while enhancing its appeal to international visitors. 

Proximity to downtown Punta Cana ensures access to urban conveniences, including shopping, dining, and nightlife, while the development itself provides a haven of tranquillity with lush golf course views and pristine natural surroundings. For beach lovers, the popular Pearl Beach Club and Coral Golf Resort’s exclusive beach club are just minutes away, with shuttle services providing easy access.

Palm View at Coral Golf Resort: Combining Lifestyle, Location, and Investment Potential

Why Palm View Stands Out

Affordable Entry Points

Palm View differentiates itself in several key ways. First, units are priced well below comparable resale properties. Similar one-bedroom units in the area that are completed are selling for approximately $250,000, which is significantly more than Palm View’s $146,000 entry point. This gives buyers immediate equity and positions their investment for a significant potential appreciation.

Tax Advantages

The Confotur Law in the Dominican Republic adds to this unique advantage. This government initiative offers significant tax incentives, including a 15-year exemption from property taxes and no land transfer fees. Additionally, buyers benefit from zero closing costs apart from legal fees, making Palm View an attractive proposition for international investors. 

Hotel-Managed, Turnkey Property

Perhaps most appealing is that all units come fully furnished, and are managed by a trusted hotel management company. This turnkey approach not only saves owners the hassle of furnishing and managing their properties but also ensures consistently high standards for rental guests, enhancing long-term returns and ease of ownership.

Amenities that Cater to Every Lifestyle

Designed to meet varied needs, Palm View will offer an impressive range of amenities. 

Within the community, residents and guests can enjoy the newly redesigned 18-hole golf course by world-renowned architect P.B. Dye, offering both challenging play and amazing scenery. For those seeking relaxation, an adults-only pool, spa, and sauna provide the perfect escape. Families are equally well-catered to, with a dedicated children’s pool and playground. 

Sports enthusiasts will appreciate facilities for tennis and pickleball, while a fully equipped fitness center ensures residents can maintain an active lifestyle. Hiking trails further add to active living options. The private beach club, with its crystal-clear waters and sandy shores, offers the quintessential Caribbean experience, complete with shuttle access to and from the resort.

Dining and entertainment are part of the Palm View experience. A full-service restaurant and bar provide on-site convenience and luxury, adding to the development’s appeal as a self-contained community.

Palm View at Coral Golf Resort: Combining Lifestyle, Location, and Investment Potential

Modern Units Built for Comfort and Style

Every unit in Palm View has been thoughtfully designed with high-quality finishes that blend modernity with functionality. Options include one-bedroom units priced at $146,000 and two-bedroom options starting at $248,000. For those seeking added indulgence, some units feature jacuzzis and private swim-up pools.

Palm View at Coral Golf Resort: Combining Lifestyle, Location, and Investment Potential

Tourism Fuels Growing Rental Demand

Punta Cana’s thriving tourism industry adds another layer of appeal for potential investors. In 2024, the Dominican Republic hosted over 4.4 million visitors, representing a 9.5% increase from the previous year. Hotel occupancy rates in Punta Cana remain high, averaging above 83%, creating strong demand for rental properties that offer a mix of convenience and modern amenities. This surge in tourism, combined with Palm View’s proximity to major attractions and its own high-end features, meets the growing demand for desirable rental options.

Rental performance projections for Palm View reflect this demand. For example, one-bedroom units, priced at $125 per night, could generate approximately $12,000 in annual income even with conservative occupancy rates of 25%. Larger two-bedroom units, suitable for families or groups, project higher annual returns of $20,000 or more. Cap rates are estimated at around 9%.

 

Learn More About Palm View, Cabaze de Toro

Vibrant Community

Palm View offers a vibrant community that caters to a wide range of people, from retirees to families, and investors to vacationers. Its combination of comprehensive, high-quality amenities, affordability, and other features make it an ideal property for a wide range of people looking for long-term living or short-term stays. 

The Future of Palm View

Palm View at Coral Golf Resort offers a modern investment in a growing market. With its affordability, strategic location, upscale amenities, and favourable financial incentives, it appeals to investors and residents seeking a balance of leisure, lifestyle, and profitability. Whether as a vacation destination, a permanent residence, or a high-performing rental property, Palm View stands out as a remarkable opportunity in the Dominican Republic. Palm View offers an appealing investment opportunity, blending the draw of the Caribbean with the potential for notable returns.

 

 

*The financials/returns provided are taken from Investor’s Playbook; these are forecasts only and are based on historical assumptions and are for informational purposes only. It should not be considered or relied upon as advice by Playbook Media Corp. and its affiliates (collectively, “Playbook”) and should also not be considered as a substitute for professional advice or recommendation on real estate investing. Playbook Media Corp. and its affiliates (collectively, “Playbook”) shall not accept any responsibility or liability of whatsoever nature for or in connection with any use of or reliance on the forecasts and/or historical assumptions for this or any real estate development project. Nothing here is or shall be considered as any recommendation or offer or solicitation to offer of any investment product

 

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Tips for Buying a Recreational Investment Property

Investing in a recreational property, like a vacation home or a cottage, can offer the potential for rental income as well as provide a personal getaway location when it is not rented out. To maximize a vacation home’s investment potential, consider these key tips:

Choose a High-Demand Location

Location is critical. Choose an area that attracts tourists and has strong demand for vacation rentals. Is the property close to natural attractions and amenities? Is it easily accessible? These are factors that can influence the property’s appeal and rental income potential. Look for locations with a mix of seasonal and year-round attractions to maximize occupancy throughout the year.

Assess Rental Potential

Evaluate the rental potential of the property by analyzing similar rentals in the area. Look at occupancy rates, rental prices and guest reviews to gauge how much rental income you can realistically expect, and assess whether the property is a viable investment. Online rental platforms and local property managers can provide data on rental performance and demand.

Prepare for Seasonal Variations

Recreational properties often experience seasonal fluctuations in demand. Be aware of how different seasons affect occupancy and rental rates. The owner of a mountain property near a ski resort can charge more during the winter, while the peak season for lakefront properties is summer. Research historical rental data and adjust prices accordingly. Take advantage of higher income potential during peak seasons to compensate for periods of low demand, and use lower prices during off-seasons to attract visitors. Be aware that you will have fluctuating income from a vacation rental property, and budget accordingly.

Check Zoning Laws

Ensure that the property is zoned for rental use and that there are no restrictions on short-term rentals in the area. Some regions have specific regulations governing vacation rentals, including licensing requirements and occupancy limits. Compliance with these rules is essential in order to avoid legal issues.

Consult with local zoning authorities and a real estate attorney to verify that the property meets all legal requirements for rental use.

Prioritize Proactive Maintenance

Recreational properties often require more maintenance than traditional investment properties, especially if they are located in remote or rural areas. Factor in the cost and logistics of maintaining the property, including cleaning, repairs and managing utilities. Be proactive, as deferring maintenance can lead to more costly issues down the road. Developing a comprehensive budget helps ensure necessary work is completed promptly.

Establishing agreements with local service providers for routine maintenance and ensuring timely, dependable repairs are completed when needed can be highly beneficial.

Shop Around for Financing

Lenders usually require larger down payments or impose higher interest rates on loans for vacation properties. A mortgage broker with experience in recreational property financing may be able to find you better loan terms. Explore different financing options thoroughly before making a decision.

Consider Tax Implications

Rental income from recreational properties and proceeds from sales have tax implications. Understand how rental income is taxed and what deductions you can claim for expenses like mortgage interest, property taxes and maintenance. Consult with a tax advisor to optimize your tax strategy and have an accurate estimate of what you will pay in annual taxes. 

Be sure to keep detailed records of all income and expenses related to the property to simplify tax reporting and maximize deductions.

Plan Ahead

As with any investment, planning ahead, evaluating your goals and performing thorough due diligence is crucial. Assess all aspects of buying and managing a recreational investment property before committing, to ensure the property meets your financial and personal goals. If you intend to use the property for personal vacations, not just for rental purposes, plan how this will affect your income. Consider using it only during the low season or when it is not booked, as this will maximize the property’s income potential.

Benefit from Trusted Expertise

A recreational property is a significant investment and requires thoughtful planning. The guidance of experienced professionals can make all the difference. RLP InvestorsEdge™ is a real estate investment platform by Royal LePage®, designed specifically to support Canadian residential real estate investors. Agents receive exclusive and in-depth Masterclass Series training by Broker’s Playbook™, so you know they have the tools and insights needed to deliver detailed analysis and personalized advice.

Investors can expect to receive valuable support throughout the process. Backed by strong negotiation skills and proven marketing strategies, RLP InvestorsEdge™ experts can help you secure favourable terms and stay competitive in any market. Exclusive access to early listings gives you a further critical edge. Recreational properties require a nuanced investment strategy. With their unique considerations, having a knowledgeable partner is key. RLP InvestorsEdge™ connects you with experts who understand these distinctions, so you can invest with greater confidence, clarity and purpose.

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Victoria Q1 2025 Residential Real Estate Market Update

The first quarter of 2025 saw Greater Victoria’s residential real estate market regain momentum. While single‑family homes continued to command premium values, condominiums emerged as the fastest‑growing segment by sales volume, and townhouses displayed signs of stabilization after a period of price softness. 

Pricing

Price trends in Q1 2025 varied significantly by housing type. The median sale price for single‑family homes rose 6% year‑over‑year to $1,199,900, suggesting sustained demand for detached properties despite elevated price levels. By comparison, condominium prices increased by 2.8% to a median of $560,000. Townhouses and row units bucked the upward trend, with median prices dipping 0.8% to $779,900. 

Bar chart comparing median prices of single family, townhouse, and condominium homes in Victoria for Q1 2024 and Q1 2025, showing percentage changes for each housing type.

Source: VREB

Regional Price Variations for February 2025

In the context of the broader Vancouver Island region, as reported by the Vancouver Island Real Estate Board (VIREB), in February 2025, VIREB’s board‑wide MLS® Home Price Index benchmark price for a single‑family home reached $773,200, representing a 2% increase over February 2024. Condominiums across the VIREB area saw their benchmark rise by a similar 2% to $404,600, while townhouses recorded a 1% gain to $541,800.

Bar chart showing benchmark prices for single-family homes in Feb 2025 by region, with North Island having the highest year-over-year increase at 13%.

Source: VREB

Sales

Residential sales in Victoria climbed 11% in Q1 2025 compared to the same period in 2024. Single‑family home sales rose by 4.7% year‑over‑year, while townhouse and row‑unit transactions increased by 4.4%. However, the most pronounced growth occurred in the condominium sector, where sales jumped 23.1% over Q1 2024. 

Sales growth was not uniform across price ranges. In the single‑family category, entry‑level homes priced below $800,000 saw a 27.5% decline in sales compared to the previous year, while the $800,000 to $1 million segment contracted by 13.5%. By contrast, homes in the $1.2 million to $1.4 million range recorded a remarkable 44% increase in sales, and properties above $1.4 million rose by 15.6%, showing an apparent demand for higher-end properties. 

Townhouses and row units also exhibited mixed performance by price band. Units under $700,000 enjoyed a modest 3.8% sales gain, and those between $700,000 and $800,000 rose by 10.4% year‑over‑year. In contrast, the $800,000 to $900,000 bracket saw a 16.2% drop in sales, while the $900,000 to $1 million segment surged 66.7%. Properties above $1 million experienced an 18.5% decline in transactions. 

Condominiums recorded the broadest-based growth across all price ranges. Sales of condos under $500,000 rose 13.9%, those in the $500,000 to $600,000 range increased by 15.4%, and units priced $600,000 to $700,000 climbed by 22.4%. Even the $700,000 to $800,000 segment posted a healthy 30% gain, while luxury condos above $800,000 led the pack with a 58.7% jump in sales. 

Inventory

Inventory levels in Victoria edged upward across all segments in Q1 2025, offering buyers a somewhat broader selection of homes than a year earlier. At the quarter’s end, single‑family homes had 4.2 months of inventory, up from 3.7 months in Q1 2024—a 13.5% increase. Townhouses and row units recorded 3.2 months of supply, a 14.3% rise from 2.8 months, while condominiums reached 4.1 months of inventory, up 7.9% from 3.8 months. 

Time on the market also shifted slightly. The median days on the market for sold single‑family homes fell from 25 days in Q1 2024 to 22 days in Q1 2025. In contrast, townhouses and row units saw median days on the market tick up from 21 to 23.5 days, while condominiums experienced a small reduction from 28 to 26 days.

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Airdrie, Cochrane, Chestermere, and Okotoks: Hidden Gems for Real Estate Investors

As Calgary’s urban core continues to see fierce competition and soaring prices, investors are increasingly turning their attention to the communities on its doorstep. Four such markets – Airdrie, Cochrane, Chestermere, and Okotoks – are emerging as hidden gems, each with its own unique appeal and promising growth outlook. With strong population growth, constrained inventory, and evolving local economies, these communities offer diversified opportunities for both residential resale and rental investments. 

Rise of Secondary Markets

As Jesse Davies, leader of the Jesse Davies Team with Century 21 notes, “Investors in 2025 are increasingly turning to Canada’s secondary markets. These smaller cities and towns just beyond major urban centres help them capture stronger yields, diversify geographically, and avoid the steep entry prices seen in core markets.” 

Alberta led the country in net interprovincial migration in 2024. This is resulting in increased numbers spilling into adjacent communities, where more affordable land and housing prices create opportunities for both rental and resale investments.

Secondary markets also offer geographic diversification benefits. By spreading investments across multiple fast‑growing corridors, investors reduce exposure to policy shifts or demand shocks in any single metro. Towns like Airdrie, Cochrane, Chestermere, and Okotoks provide excellent opportunities to implement this strategy, combining commuter access to Calgary’s employment base along with unique local amenities such as lakeside living, mountain‑view recreation, and others, for sustained demand. For a balanced portfolio seeking both cash flow and long‑term appreciation, secondary markets have become essential components rather than niche plays, making now the ideal time to explore these hidden gems.

Airdrie: A Growing Suburban Powerhouse

Just north of Calgary, Airdrie is known for its energetic local culture, close-knit community, and distinctive identity. Over recent years, the city has transformed from a bedroom community into an investment hotspot, driven by a steady influx of new residents and increased economic activity. In January 2025, the CREB reported a benchmark price of approximately $537,300 with an inventory that has improved compared to previous years, showing around 2.63 months of supply.

Inventory Improvement

Jesse Davies observes, “After years of extremely tight supply, Airdrie’s market is beginning to show signs of balance. The recent rise in new listings has increased the inventory, offering more entry points for investors.”

Population Growth

With a rising population, the demand for housing continues to grow. Airdrie’s population rose 6.39% in 2024 compared to the previous year. By 2025, the city is projected to surpass 91,000 residents, with steady growth expected to push the population to 132,120 by 2033. This demographic shift is expected to sustain both rental demand and long-term appreciation.

Proximity to Calgary

Airdrie is just a short drive away from Calgary’s urban amenities, providing a more affordable alternative to the city while still being accessible to top employment centers and cultural attractions.

Davies comments, “For investors, these factors create an opportunity to acquire properties at a reasonable price with strong potential for future capital gains and healthy rental yields.”

Airdrie, Cochrane, Chestermere, and Okotoks: Hidden Gems for Real Estate Investors

Cochrane: Scenic Charm Meets Steady Growth

Enjoying the beautiful backdrop of the Rocky Mountains, Cochrane offers stunning natural beauty and small‑town charm. It attracts buyers looking for a lifestyle that blends outdoor recreation with easy access to Calgary. Cochrane’s benchmark price has been trending upward; the Calgary Real Estate Board (CREB) reported that for January 2025, the detached‑home benchmark for Cochrane is $658,300, with a rise of 4.3% year‑over‑year.

Quality of Life

With abundant outdoor activities such as hiking, skiing, fishing, and biking, Cochrane appeals to families, retirees, and professionals who value a balance between nature and modern living. This lifestyle appeal translates into strong buyer and tenant interest.

Tight Inventory

Although new listings have begun to rise, the supply remains relatively low. With about 2.6 months of supply in early 2025, the limited availability of homes, along with demand, continues to support price growth.

Steady Price Appreciation

The market has seen annual increases of approximately 5% to 6%, a testament to the community’s growing desirability. 

Davies sums up the appeal of this untapped gem, “Cochrane not only offers a picturesque setting to ensure ongoing demand, but also a resilient market where steady price gains and low inventory levels combine to create long‑term value.”

Chestermere: Lakeside Living with High Demand

Chestermere stands out among Calgary’s surrounding communities due to its lakeside location. The town’s crown jewel, Chestermere Lake, creates an exceptional quality of life. Current market data from January 2025 suggest that Chestermere’s benchmark price is approximately $694,300, reflecting a healthy upward trend in property values.

Lakeside Lifestyle

The lake supports boating, fishing, and year-round recreational activities, significantly enhancing the lifestyle appeal of surrounding properties. 

Strong Community Amenities

Chestermere has developed robust community infrastructure, including parks, shopping centers, and recreational facilities that attract families and retirees alike. This in turn supports steady demand in both resale and rental markets.

Rising Demand and Price Growth

With strong demand driving sales, property values have seen significant appreciation. Investors can benefit from a rising market fueled by limited supply and high desirability.

According to Davies, “Chestermere presents an opportunity to capture both capital growth and attractive rental returns, especially as more buyers are drawn to the lakeside charm and community spirit.”

Airdrie, Cochrane, Chestermere, and Okotoks: Hidden Gems for Real Estate Investors

Okotoks: A Seller’s Market with Record Price Growth

Okotoks, located to the south of Calgary, is starting to gain attention for its consistently strong price performance and highly competitive market conditions. Recent reports indicate that Okotoks’ benchmark price ended 2024 at around $612,400, reflecting an 8.5% increase over the previous year. This remarkable appreciation is primarily driven by persistently low inventory levels.

Future Development

Okotoks has strategic plans for local economic development initiatives, which are expected to attract further investment and spur job creation, which in turn supports the housing market.

Record Price Milestones

The market has repeatedly set price records, with the benchmark price in Okotoks hitting new highs multiple times in 2024. This demonstrates strong buyer demand and an investment environment that favours appreciation.

Quality and Community

Okotoks offers a charming small-town atmosphere with excellent community amenities, making it attractive to families and professionals who are willing to pay a premium for quality of life. The town’s aesthetic appeal and historical character further enhance its desirability.

“Okotoks represents a market where well-chosen properties are likely to continue appreciating due to sustained demand and a long‑standing supply crunch. Despite the fierce competition, the potential for significant capital gains makes Okotoks a compelling opportunity.”, says Davies.

Airdrie, Cochrane, Chestermere, and Okotoks: Hidden Gems for Real Estate Investors

Strategies for Investing in These Gems

Investors looking to diversify their portfolios can consider different strategies.

Rental Investments

In areas like Chestermere and Okotoks, where demand remains high and supply is constrained, rental properties can yield attractive returns. With strong tenant demand driven by lifestyle benefits and community appeal, these markets offer the potential for steady cash flow.

Value-Add Opportunities

In Airdrie and Cochrane, where inventory improvements are gradually easing upward price pressures, investors may find opportunities to purchase undervalued properties and renovate them cost-effectively.

Long-Term Appreciation

For those with a longer investment horizon, acquiring properties in any of these communities offers the promise of capital appreciation driven by population growth, improved infrastructure, and continued economic diversification.

Navigating Challenges and Opportunities

One common thread across all four communities is the persistent challenge of limited inventory. Even as new listings are gradually increasing, the pace of new construction and the availability of pre‑owned homes remain well below historical averages. This supports ongoing price appreciation by maintaining strong buyer competition, but can make for a challenging market to buy, and investors must be prepared for rapid transactions and potentially multiple offers.

Given that each community has its own unique dynamics, a one‑size‑fits‑all investment approach is unlikely to be effective. In this complex environment, an experienced investment realtor like Jesse Davies becomes indispensable. Davies not only helps identify suitable properties quickly but also tailors investment strategies to match each community’s specific conditions, ensuring that investments align with individual goals and market realities.

The combination of economic resilience, strong community appeal, and ongoing infrastructure improvements in these hidden gems offer significant advantages to investors, but to make the most of these opportunities while navigating challenges, having Davies, a skilled investment realtor with extensive local know-how, on your side is an added competitive advantage.

 

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Annual Reporting Requirements for Multi-Family Building Owners: Vancouver’s Annual Greenhouse Gas and Energy Limits By-Law

Vancouver’s Annual Greenhouse Gas and Energy Limits By-Law impacts landlords and property owners managing multi‐family buildings and hotels across the city. It aims to ensure transparency and accountability in energy consumption and greenhouse gas emissions. Landlords and property owners of large multi‐family residences need to understand the reporting requirements and deadlines, not only to avoid penalties but also to take advantage of potential support programs.

Who Needs to Report?

For multi-family buildings 100,000 square feet (9,290 m²) or greater, the first report, covering 2024 data, is due by June 1, 2025. Multi-family buildings between 50,000 and 100,000 square feet will submit their first report by June 1, 2026.

Notably, while multi-family buildings must provide detailed data on their energy use and greenhouse gas emissions, existing ones are exempt from meeting the specific greenhouse gas intensity and heat energy limits that apply to other categories under the Annual Greenhouse Gas and Energy Limits By-law.

Types of Buildings Covered

The bylaw distinguishes between different types of multi-family buildings based on categories outlined in ENERGY STAR® Portfolio Manager. This categorization includes:

Care Occupancies (Group B3 under the Vancouver Building By-law)

These include healthcare-related facilities such as ambulatory surgical centres and outpatient rehabilitation/physical therapy clinics, as well as residential care facilities.

Residential Occupancies (Group C under the Vancouver Building By-law)

This category encompasses hotels, multi-family housing units, residence halls or dormitories, and senior living communities.

The classifications are intended to clarify reporting obligations based on the building’s primary function. By ensuring that each building is categorized correctly, property owners can determine their specific reporting requirements more accurately.

Steps to Comply with the Bylaw

Property owners should be familiar with the necessary steps to report energy and greenhouse gas emissions. The reporting process is consistent for both commercial and multi-family buildings.

Review the Official Guidelines

Begin by reading the Annual Greenhouse Gas and Energy Limits By-law documentation and the Energy and Carbon Reporting How-to Guide. These documents provide comprehensive instructions and detailed guidance on how to prepare your report.

Set Up Your ENERGY STAR® Portfolio Manager Account

Establish an account with ENERGY STAR® Portfolio Manager. It is essential to share a complete profile with the City’s ESPM account to ensure your building is correctly represented in the system.

Claim Your Building in the City’s BPRS

Next, use the Building Performance Reporting System (BPRS) to claim your building. This step links your energy and carbon reporting directly with the city’s records.

Prepare and Submit Your Report

With your account set up and your building claimed in the system, compile your energy consumption and greenhouse gas emissions data for the reporting period. Make sure your report is complete and submitted by the appropriate deadline to avoid any penalties.

Resources and Support

The City of Vancouver offers various support programs and incentives for existing multi-family buildings to ease the transition to regular reporting. It also provides guides and other resources, designed to help property owners navigate the reporting process effectively.

For more detailed information and access to the official bylaw document, visit the City of Vancouver’s website.

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The CMHC MLI Select Program: A Game Changer for Real Estate Investors

The Canada Mortgage and Housing Corporation (CMHC) MLI Select Program is a transformative initiative that has significantly altered financing for multi-unit residential properties in Ontario and across Canada. Created to encourage affordable, accessible, and energy‐efficient housing, the program provides investors and developers with enhanced loan terms that include high loan-to-value (LTV) ratios, extended amortization periods, and reduced mortgage insurance premiums. 

For real estate investors, whether entering the rental market or expanding an existing portfolio, the program offers an unprecedented opportunity to optimize cash flow and reduce upfront capital requirements, according to Paul D’Abruzzo, a real estate coach with Expert Investor Academy. He adds, “One of the main benefits of MLI Select is its accessibility to smaller investors; properties with as few as five units qualify, which opens multi-family opportunities up to more investors. Even those who never thought multi-family investing was within reach can now seize the opportunity. This option enables many individuals to explore, start, or diversify their portfolios while enjoying the benefits of multi-family investments.”

Background of the CMHC MLI Select Program

Launched to replace previous financing solutions such as the retired MLI Flex program, the MLI Select Program targets properties with a minimum of five units, with specific thresholds for retirement homes and other special categories. Its primary aim is to address Canada’s ongoing housing affordability challenge while advancing social and environmental objectives. By awarding points based on commitments to affordability, energy efficiency, and accessibility, the program incentivizes developments that align with key societal goals as well as a robust rental market.

This dual focus on financial innovation and social responsibility means that properties that meet or exceed the set benchmarks can secure advantageous financing terms. Additionally, even smaller-scale, multi-family properties can secure this beneficial financing, making it a key program for beginner and intermediate investors to investigate – not just large-scale investors.

Paul D’Abruzzo emphasizes the significant impact favourable financing can have on a project’s profitability. He explains, “Investors with eligible projects can access up to 95% loan-to-value financing, meaning a down payment as low as 5% may be enough for a loan. This accessibility can be a game-changer for many investors looking to enter the multifamily market. Additionally, borrowers benefit from amortization periods of up to 50 years, which significantly reduce monthly mortgage payments and enhance long-term cash flow stability.” 

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Points-Based Incentives

At the heart of the MLI Select Program is a points system that assesses a project’s commitment in three critical areas.

Affordability

Projects earn points by offering a designated percentage of units at rents that do not exceed 30% of the median renter income. This ensures that a segment of the housing stock remains affordable for lower-income households.

Energy Efficiency

Developers are rewarded for exceeding baseline energy performance standards, often measured against benchmarks such as the National Energy Code for Buildings (NECB) or other recognized standards.

Accessibility

Points are also awarded for incorporating universal design elements or meeting accessibility certifications, such as those set out by the Canadian Standards Association (CSA).

Benefits

Every extra point earned under these criteria leads to enhanced financing terms, such as reduced insurance premiums and the option for longer amortization periods. As Paul D’Abruzzo notes, “In effect, emphasizing strong social and environmental performance can now improve a project’s economic viability. Additionally, for investors with limited starting capital, these extra incentives can be the key to making a break into multi-family property investing.”

High LTV Ratios

With financing available at up to 95% LTV, investors can leverage minimal equity, preserving capital for other investments or operational needs.

Extended Amortization

The availability of up to 50-year amortization periods lowers monthly debt service, enhancing cash flow—a key metric for investors.

Reduced Insurance Premiums

By achieving high scores on the points system, borrowers benefit from significantly lower mortgage insurance premiums. This reduction translates into substantial savings over the life of the loan.

Flexible Qualification

The program accommodates both new construction and the substantial renovation of existing properties, offering flexibility for a range of project types—from standard rental buildings to supportive or retirement housing.

These features not only mitigate upfront risks but also contribute to a stable long-term investment environment. 

Opened Doors for Smaller Investors

Opportunities for smaller real estate investors are expanded, as the program offers accessible financing for multi-family properties with as few as five units. Designed to lower entry barriers, the program’s minimal equity requirements make it a rare opportunity for beginner and intermediate investors to enter the multi-family market while securing strong cash flow and high returns. Through reduced upfront capital demands, investors can scale their portfolios more easily.

Eligibility Criteria for Ontario Projects

To qualify for the MLI Select Program, a property must meet several critical thresholds.

Generally, a property must contain at least five residential units. For certain categories, such as retirement homes, the minimum is higher. If a building includes non-residential spaces, these must not exceed 30% of the gross floor area or total lending value.

For affordability criteria, a predetermined percentage of a project’s rental units must be designated as affordable. Typically, this means that between 10% and 25% of the units must be set at rental rates at a maximum of 30% of the local median renter income—a benchmark that ensures the housing remains affordable for lower-income households. Additionally, a project must commit to maintaining these affordable rates for a minimum of ten years. For developers who agree to extend this commitment to 20 years or more, the program rewards them with additional points.

To qualify under the energy efficiency requirements, projects must show measurable improvements over baseline standards by reducing energy consumption or GHG emissions by 15 to 40% compared to a reference building. Verification is through energy simulation reports from qualified professionals or third-party certifications, which help secure better financing by lowering long-term costs.

Accessibility criteria require all units to be 100% visitable, and at least 15% must meet established accessibility standards, whether via CSA standards, universal design principles, or recognized certifications. These measures ensure an inclusive environment and enhance the project’s overall economic viability.

Meeting these criteria not only qualifies a project for the program but, under the points system, earning additional points leads to even more attractive financing terms. 

How MLI Select is Helping Investors in Ontario

Through favourable lending terms for qualified projects, MLI Select offers significant advantages for investors and developers.

Enhanced Cash Flow and Lower Upfront Costs

Cash flow is a critical metric that determines long-term profitability and the ability to scale a portfolio. By reducing down payment requirements to as little as 5% and offering extended amortization periods, the MLI Select Program drastically lowers monthly mortgage obligations. D’Abruzzo comments, “The improved cash flow enabled by the MLI Select program allows investors to reinvest saved capital into additional projects or to weather market fluctuations more effectively.

Accelerated Portfolio Growth

Lower equity requirements and competitive interest rates mean that investors can finance multiple properties concurrently. The high LTV ratios make it feasible to acquire larger properties or diversify across different locations. This accelerated growth strategy is particularly beneficial in a market where rental demand remains high, and property values continue to appreciate. 

Risk Mitigation and Long-Term Stability

The program’s emphasis on maintaining a minimum debt coverage ratio (DCR) of 1.1 or higher ensures that only projects with robust income streams qualify. By linking financing to projects that are projected to generate net incomes exceeding debt costs, CMHC reduces default risk and provides investors with a greater degree of financial stability. Moreover, the inclusion of criteria focused on sustainability and accessibility not only meets regulatory trends but also aligns with evolving consumer preferences, further reducing market risk.

Empowering Socially Conscious Investors to Succeed

Investors may avoid affordable housing projects due to narrow profit margins. Furthermore, the extra expenses for energy-efficient or accessible features, while desirable, can render a project unfeasible or unprofitable. The MLI Select program aims to overcome these hurdles, enabling investors and developers to offer socially responsible housing without sacrificing profitability. By tying attractive financing options to tangible social outcomes, the program not only reduces risk but also paves the way for long-term success in a competitive market. 

Capitalizing on a Booming Market

D’Abruzzo notes, “In Ontario, housing demand persistently outstrips supply; it is clear that the demand is there. By leveraging the MLI Select lending incentives that boost profit margins, investors can tap into this strong demand to secure consistent, reliable income, while still achieving a level of profitability that makes their investment worthwhile.”

Scenario

Consider an investor acquiring a six-unit rental building in Toronto. Under traditional financing, the investor would likely be required to provide a minimum of a 25% down payment, substantially limiting their liquidity. However, through the MLI Select Program and earning a high score through commitments to affordability, energy efficiency, and accessibility, the investor secures 95% financing with a 50-year amortization period. With monthly payments significantly reduced, the investor’s cash flow improves dramatically. This freed-up capital can be reinvested into further developments, thereby accelerating portfolio growth while also addressing pressing housing needs.

Looking Forward

As the real estate market evolves, those who understand and capitalize on the opportunities presented by the CMHC MLI Select Program will be best positioned to succeed. Whether you are a seasoned investor or new to multi-unit developments, the program’s strategic advantages make it a true game changer in today’s dynamic market.

However, to fully leverage the benefits of the MLI Select program, it helps to have an experienced real estate professional and coach on your side. 

Paul D’Abruzzo is a real estate investor, developer, coach, and realtor who left a decade-long career as a Toronto firefighter to focus on real estate full-time in 2020. Since then, he has built a portfolio exceeding $45 million in multi-family, student, and short-term rental properties across Ontario. His disciplined background and direct market experience have shaped a pragmatic, investor-focused approach that he now shares through coaching and personal guidance.

For investors exploring CMHC’s MLI Select program, Paul offers clear, data-driven insights into navigating its point-based criteria. Drawing on his experience with the program, he provides practical insights that help investors navigate its requirements and benefits, enabling them to craft strategies that enhance project viability and profitability. His straightforward approach helps both new and experienced investors make informed decisions in today’s competitive market.

D’Abruzzo has also compiled his insights in a new free guide, the 2025 Canadian Real Estate Investor Playbook: The Secrets to Thriving in ANY Market. It outlines current market trends, effective strategies for maintaining cash flow in challenging conditions, and predictions for 2025. The guide also provides a clear, practical roadmap for investors at all levels on navigating fluctuating interest rates and evolving market dynamics. The playbook is designed to offer actionable advice that can help readers adapt to today’s market and plan for future success.

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