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A market leasing assumption (MLA), sometimes known as a speculative rent profile (spec rent) or market rent, is an accounting method used in commercial real estate to produce budget predictions and valuations. It is a sort of template, or standardized lease, that is applied to rental units for periods in the future when there is no contracted ...
The definitions of 'affordability' and 'affordable housing in Canada' are varied depending on whether the term is used by banks and mortgage providers, real estate agencies in regards to market-based issues, consumers who may or may not be left out to the market, and advocacy organizations supporting the under-housed and unhoused populations.
In response to The Ontario Committee on Taxation Report, the Provincial Government assumed responsibility for property assessment in 1970 to create a uniform assessment system for all Ontario municipalities. The Government introduced market value assessment and the new system was offered to municipal governments on a voluntary basis. [6]
Some definitions include maintenance costs as part of housing costs. [24] Canada, for example, switched to a 25% rule from a 20% rule in the 1950s. In the 1980s this was replaced by a 30% rule. [7] India uses a 40% rule. Some ways to achieve these ratios are to live with roommates and split rent or to have a cheap lease-by-room agreement.
The buying and selling of property is normally done through a real estate agent who work on a financial commission and act as a broker between buyer and seller. As well as brokers, the sale of property can be done with the aid of a lawyers (commercial sales), notaries (Quebec), surveyors, title insurers or third party consultants. [2]
Rent regulation was first briefly introduced in Ontario under the National Housing Act 1944.After lobbying by business it was repealed in under a decade. The modern history of rent controls began in July 1975 when the Residential Premises Rent Review Act 1975 was enacted after the demand for rent controls became a major issue in the period leading to the 1975 provincial election. [2]
the full rent of a property, including both land and improvements as if it were subject to an immediate open-market rental review. [1] The second definition is equivalent to the economic rent of the land plus interest on capital improvements plus depreciation and maintenance—the normal market rent of a property—and is not inherently ...
Real estate economics is the application of economic techniques to real estate markets. It aims to describe and predict economic patterns of supply and demand . The closely related field of housing economics is narrower in scope, concentrating on residential real estate markets, while the research on real estate trends focuses on the business ...