Toronto’s condo market is still extremely strong, despite the fact a number of projects in the city have recently been cancelled, says Sam Mizrahi, developer of what will be Canada’s second-tallest building.
I’ve been asked about everything from strange smells in the area to corrupt property managers, but I’ve never been asked “can a condo burn down?” I thought it might be interesting to explore that question.
Effective Jan. 1, 2018, warranties previously offered only on newly constructed buildings now apply to residential condominium conversion projects (RCCPs) - for example warehouses or other types of industrial structures.
At a time when condos are getting older and need their money for repairs, and with utility costs rising, condo boards simply should not make discretionary spending choices – even if they think they are entitled to.
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.