CMHC recently introduced a series of policy changes affecting mortgage loan insurance for multi-unit residential properties (5+ units). There is a lot of new information to digest, so I want to highlight some of the key changes.
In an effort to be more pragmatic in its approach, CMHC intends that the changes will make rental and affordable housing more accessible to more Canadians. The good news is that much of the policy transformation favours borrowers including: (more…)
CMHC has released their fall rental market reports for Edmonton, Calgary, Alberta and Canada. See full reports linked below and summary of key indicators for multi-family apartment landlords below. Contact us if you have questions on how this affects your property holdings or acquisition opportunities.
Have vacant multi-family rental properties in Edmonton? You’re not alone.
The current economic climate, combined with an oversupply of multi-family construction from starts in 2014/15 and new home construction has increased available supply and competition. It has also improved the quality of available rental stock in Edmonton’s rental housing market. CMHC forecasts an increase from 4.2% in 2015 to 7% at 2016 end and into 2017.
The REALTORS Association of Edmonton puts out semi-annual summaries of all commercial activity through the board’s MLS system. This captures a solid snapshot of overall market activity, but as we all know, does not include all commercial transactions as many are completed “off market” directly.