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RPR? What is it!

One of the most common questions I get from buyers and even some homeowners is, “What’s an RPR?”

In this blog we will go over what an RPR is, what purpose it serves, and when it needs to be updated.

What is an Real Property Report (RPR)?

A RPR is a detailed survey of a property done by a land surveyor. It maps out the property boundaries and shows where structures like the house, garage, decks, sheds, and fences are located. It also highlights things like easements, rights-of-way, and any encroachments. If everything follows municipal rules, the city will give it a compliance stamp.

An RPR is important because it ensures that all structures on the property meet local regulations and aren’t crossing into a neighbor’s land. This helps buyers, sellers, and lenders avoid legal headaches by making property boundaries and potential issues clear.

Keeping an up-to-date RPR with municipal compliance helps prevent surprises, like finding out a fence is actually on your neighbor’s property or that a garage was built too close to the lot line. Most lenders and lawyers require one for real estate deals, but if an updated RPR isn’t available, title insurance can sometimes be used instead.

When Should you Update an RPR?

You should update your RPR whenever changes are made to the property that affect structures, boundaries, or municipal compliance. This includes:

  • Adding or removing a deck, garage, shed, or fence
  • Building an addition to the house
  • Making changes to a driveway or walkway that extends to property lines
  • If the municipality updates zoning or bylaw requirements affecting compliance

If you’re selling a home, it’s a good idea to check if your RPR is still valid. Many buyers, lenders, and lawyers require an RPR with a current compliance stamp before closing a sale. If it’s outdated, you can either update it or opt for title insurance as an alternative.

What is Title Insurance?

Title insurance is a type of protection for homeowners and lenders that covers potential issues with a property’s title or legal ownership. It’s often used in real estate transactions when an updated RPR isn’t available or when there are risks related to the property’s title.

This insurance can cover a variety of issues, such as encroachments (when a structure like a fence or shed crosses property lines), fraud or forgery involving the title, and zoning problems if the property doesn’t comply with municipal rules. It also helps with survey defects, unregistered easements, or unexpected liens tied to the property.

Title insurance is commonly used when an RPR is outdated, to meet a lender’s requirements, or to give buyers extra protection against potential legal headaches after purchasing a home. Unlike an RPR, it doesn’t confirm municipal compliance, but it provides financial coverage if problems come up. The best part? It’s a one-time cost (usually a few hundred dollars) and stays valid for as long as you own the property.

Why is it Important?

Selling your house with an up-to-date RPR is important because it shows the property is in compliance with municipal rules and there are no boundary issues. If the RPR is outdated, buyers may get worried, which could slow down the sale. Plus, some lenders require a current RPR to close the deal.

An up-to-date RPR avoids surprises, builds buyer confidence, and helps protect you from future disputes and it usually costs between $500 and $1,200, depending on the property’s size, location, and any complexities like municipal compliance or legal descriptions, however the price may vary depending on the surveyor.

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MLI Select Program – What You Need to Know!

Back in 2022, Canada Mortgage and Housing Corporation (CMHC) rolled out the MLI Select program to helps finance multi-unit rental housing. It gives better loan terms—like higher loan amounts, longer repayment periods, and lower premiums— which was based on a points system that rewards affordable, energy-efficient, and accessible projects. Since then it has undergone some changes to the program, however it is a go to for any investor looking to gain some doors at an affordable upfront cost.

Previous Key Features:

The MLI Select program is designed to encourage the development and preservation of affordable, accessible, and energy-efficient rental housing based on the key features below:

  1. Incentive-Based System
    • Borrowers earn points based on affordability, energy efficiency, and accessibility.
    • Higher points = better financing terms (higher loan-to-value, longer amortization, lower insurance premiums).
  2. Eligible Properties
    • New construction, acquisitions, and refinancing of rental properties.
    • Must have five or more residential units.
  3. Financing Benefits
    • Up to 95% Loan-to-Value (LTV) for eligible projects.
    • Up to 50-year amortization for high-scoring properties.
    • Reduced premiums or premium refunds based on affordability and sustainability criteria.
  4. Affordability Component
    • Points awarded for maintaining rents at below-market levels for at least 10 years.
  5. Energy Efficiency
    • Incentives for projects that reduce greenhouse gas emissions or meet high-efficiency building standards.
  6. Accessibility
    • Additional points for buildings that meet or exceed universal design and accessibility standards.
Based off these key features, the MLI Select program was able to provide better financing for higher scores making rental projects easier to fund, manage, and cash flow. Over time, the program has evolved with updates that enhance financing flexibility, sustainability, and due diligence in multi-unit housing development.
 
Key Updates:

Over the last year, the program has undergone several key features:

  • Refinancing Flexibility: CMHC removed restrictions on how refinance proceeds can be used.
  • Energy Efficiency Scoring Adjustment: Lowered maximum points for energy efficiency to prioritize affordability.
  • Extended Amortization: New construction projects can now qualify for up to 50-year amortization under MLI Standard.
  • Submission Protocol Change: Only CMHC Approved Lenders can submit multi-unit applications.
  • Mandatory Appraisals: All applications now require appraisals to ensure accurate property valuation.
  • Rental Achievement Holdbacks: Higher loan requests require proof of rental income performance.
  • Updated Accessibility Criteria: Standards now align with CSA B651:23 and Rick Hansen Foundation Certification 4.0.

The 2024 updates to the MLI Select program are all about making things easier and more flexible for investors. They’re focused on tackling housing challenges by boosting affordability, energy efficiency, and accessibility, while also improving due diligence. With changes like mandatory appraisals and updated accessibility standards, the goal is to promote sustainability and market stability. The updates also make the application process smoother, helping investors feel more confident about long-term rental property investments.

Before the 2024 changes, investors and developers had to meet a minimum net worth to show they could handle the risks of multi-unit rental projects. But with the new updates, there’s no longer a strict net worth requirement. Now, the focus is more on financial stability, cash flow, and the investor’s ability to meet debt service ratios. It’s all about making sure the project is financially sound and sustainable, rather than just checking off a net worth box.

Benefits of Getting into an MLI Select:

The MLI Select program offers some solid perks for investors. You can get up to 95% loan-to-value, meaning you need less cash upfront, plus longer amortization (up to 50 years) for lower monthly payments. CMHC also cuts your insurance premiums, saving you even more. With these benefits, it’s easier to keep your cash flow positive, and since the program is government-backed, it helps ensure your properties stay profitable. The lower payments and longer terms make it easier to manage long-term, pay off loans, reinvest, and keep things running smoothly.

The program also promotes sustainable development by rewarding energy-efficient and accessible housing, which benefits both the environment and local communities. It helps tackle housing shortages by offering financial incentives to build rental properties, especially in areas where demand is high. Investors get better financing with lower premiums, longer terms, and higher loan-to-value ratios, making it easier and cheaper to develop or maintain properties. This boosts cash flow, ensures long-term profitability, and brings both public support and private investment into the mix.

Conclusion:

In short, MLI Select makes financing easier, cheaper, and more sustainable, helping you grow and maintain successful rental properties. As for when the program ends, it’s ongoing for now, with no set end date. It’s a long-term initiative for promoting sustainable rental housing development, but changes could come depending on government priorities or policy updates. So, it’s a good idea to get in while the program’s still available!

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Calgary VS Toronto – What’s the Better Pick for 2025

If you’re wondering why so many Ontarians are heading to Alberta, especially with no signs of it slowing down this year, the numbers tell the story. In the third quarter of 2024, nearly 23,000 people left Ontario for other parts of Canada, while just under 19,000 moved to Ontario from other provinces. That left Ontario with a net loss of over 4,200 people. But why are so many choosing Alberta?

In this blog we will go over the difference between the markets and why Calgary, in particular, is thriving.

Calgary: Canada’s Next Real Estate Hotspot?

Calgary has been on the up and up, mainly due to the significant growth in the past years, while the job market has stayed relatively strong compared to the rest of Canada, the biggest draw for outsiders is affordability. While home prices in Ontario continue to climb, Calgary offers a much more affordable lifestyle, making it an attractive option for those looking to escape the high costs of living and find better opportunities, and here are a few reasons why:

  1. Energy Sector Resurgence: Calgary leads Canada’s energy shift, attracting investment and skilled workers seeking affordability and stability as Ontario’s costs rise.
  2. Tech Industry Boom: Calgary is growing as a tech hub, attracting investment and top talent while diversifying Alberta’s economy for long-term stability.
  3. Affordability Advantage: Calgary’s housing is far more affordable than Toronto’s, costing nearly half as much. This draws buyers from Ontario and B.C., where homeownership is out of reach.
  4. Explosive Population Growth: Calgary’s population is surging as young professionals and families move west for affordability, jobs, and a better quality of life.

In short, Calgary’s growing energy and tech sectors, its affordability, and rapid population growth are all key factors driving the upward trend in its real estate market. Recent stats also show that Calgary’s rental market is still very competitive, with vacancy rates staying under 2%, showing there’s lots of demand due to the steady flow of people moving from other provinces, which is pushing that demand up, which is making rent prices rise and creating more competition for available places.

Toronto: The Downfall?

In January 2025, the average home price in the GTA dipped to $1,040,994—down 2.5% from December. If you’re wondering what happened, here’s the few reasons on why the Toronto market has been on the downturn as of late.

  1. Home Prices Dropping: Prices for both condos and single-family homes have continued to decline, with some areas seeing double-digit percentage drops compared to last year.
  2. Surge in Listings: Active listings have increased significantly, leading to more inventory and giving buyers more negotiating power.
  3. Rising Vacancy Rates: The rental market is experiencing higher vacancy rates, with landlords offering incentives to attract tenants.
  4. Interest Rate Impact: High borrowing costs due to elevated interest rates are keeping many potential buyers on the sidelines, leading to slower sales.
  5. Government Policy Changes: New measures, including reduced immigration targets and potential housing regulations, are affecting investor confidence.

The Toronto Real Estate market is struggling due to high interest rates, more homes available, and affordability issues, leading to lower demand and falling prices. Meanwhile, interprovincial migration from Ontario to Alberta is expected to continue, driven by lower living costs, a strong economy, and a better quality of life. Alberta’s affordable housing, thriving energy and tech sectors, and tax-friendly environment make it an appealing choice for Ontarians, especially with the rise of remote work.

Conclusion:

Calgary’s Real Estate market is continuing to thrive, with prices expected to keep rising due to low inventory and high demand. Now’s the time to invest, before prices climb even higher. In fact, prices for detached homes and townhouses have nearly doubled in the last five years and show no signs of slowing down. Meanwhile, Toronto’s market is facing challenges, with high interest rates, an oversupply of homes, and affordability issues causing prices to drop. As a result, more Ontarians are heading to Alberta, drawn by its lower cost of living, strong economy, and better quality of life. With affordable housing, a growing energy and tech sector, and a tax-friendly environment, Alberta is becoming the go-to place for those looking to make a move before it’s too late.

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Capital Tax Gains – On Hold

As of February 1, 2025, the Canadian government’s planned changes to the capital gains tax are on hold. Originally introduced in Budget 2024, the proposal aimed to raise the inclusion rate from 50% to 67%—but only for individuals with over $250,000 in annual capital gains, as well as all corporate and trust gains. The changes were initially set to take effect on June 25, 2024, but have now been pushed back to January 1, 2026.

What is the Capital Gains Tax?

Capital gains tax is what you pay when you sell an asset—like stocks, rental properties, or a business—for more than you bought it for. In Canada, only part of that profit is taxed. Right now (2025), 50% of the gain is added to your taxable income, but the government has proposed raising that to 67% for big gains over $250K and for businesses. The actual tax you owe depends on your income, since it’s taxed at your regular rate.

Why the Delay?

The Canadian government has pushed back the capital gains tax changes to January 1, 2026, mainly due to political roadblocks. The plan was to raise the taxable portion of capital gains from 50% to 67% for businesses and individuals with over $250,000 in gains, but it faced pushback from various sectors worried it might scare off investors. On top of that, with Prime Minister Trudeau stepping down and Parliament being put off, the process to pass these changes has stalled. As a result, the CRA hasn’t given any new guidance, and tax experts are advising people to stay prepared for possible increases while keeping an eye on further updates.

“Given the current context, our government felt that it was the responsible thing to do,” LeBlanc said in a press release. “I look forward to further conversations with Canadians on how we can ensure Canada’s fiscal policy encourages robust and sustained economic activity in every region of our country.”

Liberal Party leadership candidate Chrystia Freeland, who introduced the policy as federal finance minister, recently said she would nix the capital gains tax hike if elected.

Conclusion:

The delay in the capital gains tax changes is a win for people in real estate. It gives them extra time to sell properties before the tax hike kicks in. If they were planning to sell and make a big profit, the current tax rules (where only 50% of the gain is taxed) still apply until the end of 2025. This means they’ve got a few more years to avoid the proposed increase to 67%, which could lead to a higher tax bill. Basically, it’s more time to sell at a lower tax rate before the changes happen.

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.