March - 2020

Condo Renter Vacancies Remain High in Toronto

Toronto Housing Market is Red Hot

CMHC Fears Canadian Housing Market Plunge

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Ontario Government Issues Update to Rental Changes During COVID-19

The Ontario government issued a bulletin regarding rental issues during the COVID-19 pandemic. To read this bulletin, click here.

Landlords and Tenants Begin to Panic for April 1, 2020 Rent Deadline

As the COVID-19 pandemic continues, the public is continuing to worry about finances. Both landlords and tenants are panicking given the unknown about April 1, 2020 rent due. CBC wrote an article specifically about landlords, which can be found here. Meanwhile, tenants who are put in a financial pickle are also worrying, as they look to the government for intervention. This CBC article can be read here.

COVID-19, Unpaid Rent, Tight Wallets, and the Landlord and Tenant Board

The Ontario Government has issued an order indicating all eviction are to be stayed during the COVID-19 pandemic. In addition to this, the Landlord and Tenant Board is postponing all hearings. Unfortunately for all Ontario landlords and tenants, the majority of the province is shut down, with money becoming increasingly tight for everyone. This has led to tenants choosing to pay for essentials, such as food, over their rent. This is completely understandable given the circums

Ontario Puts ResidentEvictions on Hold

The Provincial Government has put all residential evictions on hold effective immediately. To read the order from Chief Justice Morawetz, click here.

Prime Rate Falls to 2.95%

Canada's prime rate has fallen by 50 percentage points to 2.95%. This is the second time in as many weeks that the Bank of Canada had a rate cut due to COVID-19. In addition to the prime rate falling,Canada's big banks are increasing variable premiums. To read more, click here.

CRA Pushes Tax Deadline to June 1, 2020

In an effort to help its citizens during the COVID-19 pandemic, the Canada Revenue Agency has decided to push the tax deadline to June 1, 2020. To read more, click here.

6 Canadian Banks Allow Deferral of Mortgage Payments

Bank of Montreal, CIBC, TD Canada Trust, National Bank of Canada, RBC, and Scotiabank have all said they will be helping Canadians out during the COVID-19 pandemic. They are all allowing deferral of mortgage payments for six months, while also offering an opportunity for relief on credit products. To read more, click here.

Ontario Cancels Small Claims Court and LTB Due to COVID-19

The Ontario Superior Court of Justice has indicated that effective March 16, 2020 the Small Claims Court has been cancelled indefinitely.

Ontario To Introduce Changes in LTB Law?

Ontario released a press statement indicating the potential for new, sweeping changes in LTB law. These changes would affect both landlords

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Lockwood Paralegal Firm