Condominiums – 15 Things To Know Before Buying – Part 2

15 Things To Know Before Buying A Condominium Continued…

4. What is the Condominium Act, 1998?
When you purchase a condo unit, you automatically become subject to the provisions of the Condominium Act, 1998, which governs all condominiums in Ontario. The current Act includes provisions that, among other things provides for penalties for non-payment of common expenses or violations of Corporation Rules and Regulations. The Act ensures that the condominium has sufficient funds to operate, that everyone pays their fair share of that cost and obeys the rules.

5. What are Declarations, By-Laws and Rules? (Should you care?)
The Declaration is a document that will contain certain mandatory provisions as legislated by the Condominium Act 1998 such as:

  • specifications of the boundaries of your unit
  • the percentage use to calculate monthly common expenses for your unit
  • other restrictions and obligations that may affect the use of your unit

By- Law’s set the basic organizational and administrative functions of the Corporation, including the duties of its Board of Directors and officers. The by-laws also make provisions for calling owners’ meetings and for the election and qualification for the Board of Directors.

All condominium corporations have rules which form the standards of behavior for the community. These govern the day-to-day use of your unit and the common elements.

You have the right to insist that the Declaration, By-laws and Rules be complied with by all other unit owners, tenants or other residents of the condominium complex and, yes, you should care because the other owners can insist that you abide by them as well.

6. Who are the Board of Directors and what is a “Property Manager”?
The majority of condominiums in Ontario are governed by an elected Board of Directors. The board members are usually other owners in the condominium. They are responsible of administrating the condominiums’ business and financial affairs.
All condominiums are administered by an elected board of directors. However, many condominiums hire professional property management companies to assist them. The Manager’s role, among other things, is to oversee the day to day operation of the Corporation, see to the collection of common expenses, advise the Board of Directors, assist in the preparation of budgets, and attempt to enforce the Rules.

Stay tuned to read more about what to know before buying a condo!

For further inquiries, contact Terra Firma Real Estate at 613-721-7434!
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Condominiums – 15 Things To Know Before Buying – Part 1

1. Are you ready for the condominium lifestyle?
While some people may be concerned about restrictions that sometimes apply to the condominium lifestyle, there are many advantages as well, including

  • relief from maintenance and repairs
  • enjoyment of recreational facilities
  • security
  • a sense of community
  • ability to exercise some control over your living environment by utilizing your voting privileges

2. Knowledge is Key!
Finding a realtor who is experienced and knowledgeable in condominiums is extremely valuable. Retain a realty lawyer who is also familiar with condominiums before you make an offer. You will only have a matter of days to firm up a conditional offer and you can waste precious time searching for one who can help you.

3. Know what kind of condominium you are buying
The new Act now recognizes 5 different types of condominiums which are briefly described as follows:

1. Common Elements Condominium: this is a condominium where there are no “units”. Instead an interest in the common elements is attached to an adjoining, piece of land referred to as a “Parcel of Tied Land” (POTL). The POTL is usually a freehold detached home.
2. Vacant Land Condominium: this is a condominium in which there are both common elements and “units” however, the units are actually created as a piece of vacant land, similar to buying a vacant lot in a subdivision, upon which the owner will have a house constructed. The “unit” would then include all of the land in its boundaries as well as any dwelling units or other structures constructed on it.
3. Leased Condominium: this is the condominium in which the ownership of the land upon which the condominium buildings are constructed will remain with a developer or be owned by investors. The owner then lease the land and building to the condominium corporation for a minimum initial term of 40 years. Purchasers will then acquire a leasehold interest in their unit. The corporation will pay rents to the owner form the common expenses.
4. Phased Condominium: is a condominium corporation that is built in stages. When stage one is complete, a condominium corporation is then registered to include the units that have been constructed. The developer can then build the next stage. Once it is completed, it is then merged into the original corporation and so on until all of the condominium units are completed.
5. Standard Condominium: essentially, a standard condominium refers to all condominiums other than the ones noted above.

Stay tuned to read more about what to know before buying a condo!

For further inquiries, contact Terra Firma Real Estate at 613-721-7434!
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Ottawa; This Weekend!

Has all this rain put a damper on your mood? Check out these awesome events happening this weekend!

Rock for the Public

Rock for Public Services is a FREE concert at TD Place to celebrate and promote the importance of public services. The line-up this year celebrates the 10th anniversary by bringing back a couple favourite artists to open the night – The Cooper Brothers and Kathleen Edwards.

Christmas Craft Shows
Click this link to guide you to all the Christmas crafts you can imagine!

Ottawa Wine & Food Festival
Do yourself a favor and attend one of the most anticipated Ottawa fall events. Join hundreds of Canadians to discover, sample and discuss the Market’s newest in wine, craft beer, spirits and food.
Find this event at the EY Centre.

The Baby Show
Get ready to learn all about taking care of yourself and your baby from preconception to toddler-hood participating in great giveaways and sampling new products. Meet Peppa Pig! Watch a live Care Bears Dance Party!
Show times: Saturday 9am to 5pm, Sunday 10am to 5pm at the EY Centre.

Children’s Storytelling Festival
From traditional tales to fabulous fantasies, this will be a FREE day of storytelling magic that kids won’t want to miss!
Saturday November 4 at the Nepean Centrepointe Library .

Ottawa Antique & Vintage MarketImage result for antiques
Discover the best antiques, vintage & retro all in one venue! If you’ve never been to the show before,  you WILL be surprised at the amazing inventory that you just don’t see anywhere else. Explore over 30,000 sq./ft. of one-of-a-kind finds for you, your home, condo or cottage! The Fieldhouse at Carleton University on November 4 & 5, 2017.

Take advantage of all these events happening this weekend!

 

 

 

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Spring Forward!

 

Thankfully, February is behind us, and warmer weather is on the horizon!  Before we get to April showers and May flowers we need to deal with the spring thaw.  Whether you are looking at purchasing a new home, or you simply want to maintain your existing one, you should inspect the following areas annually. The tail end of every the winter brings a lot of water with it.  As the snow melts that water can find its way into your house.   There are a few areas you will want to keep an eye on during the spring thaw.

Grading

Be sure to keep an eye on your basement, especially if you have noticed water pooling in the yard, as this is a clear sign of a grading problem.  Proper grading creates a slope that carries water away from your home.   If not done properly, you may find the water coming into your house through the foundation.  To help alleviate this problem, make sure that you extend downspouts to discharge the water at least 2 meters from your foundation.  You can also use rain barrels to capture the water coming from your roof. The long-term solution bring in a landscaper to re-grade your property.

Backflow

Backflow is another problem you want to avoid.  Backflow can occur when too much storm water or melted snow causes the city’s sewage system to back up into your house.  The resulting sewage mess can be costly to clean up and is very unpleasant to deal with.   Save yourself the trouble and make sure you have installed backflow preventers.  If you don’t have one, not to worry, because backflow preventers can be purchased from stores like Home Depot for as little as $16.

Roof

The roof can be particularly vulnerable during the winter, especially if it is older and not insulated properly.  One of the more common causes of roof damage is ice dams, which is a wall of ice that forms at the edge of the roof. When heat from inside melts the snow on the roof, water runs down and refreezes at the roof’s edge. Eventually, the ice builds up and blocks water from draining off the roof. This, in turn, forces the water into your home and can cause thousands of dollars of damage.

If you have attic access, the easiest way to track a potential leak is to go up there with a flashlight and look for the evidence.  To minimize the chances of a leaky roof, clean out gutters by removing leaves, sticks and other debris so that melting snow and ice can flow freely. Install gutter guards to prevent debris from entering the gutter. Make sure your attic is well ventilated. If the attic is cold, there will be less melting and refreezing on the roof.

Proper care and maintenance will keep your home in good shape and ensure that you can get the best price when and if you choose to sell.  It will also save you from having large and unexpected repair issues that insurance will not cover, giving you that piece of mind.  So put away the winter mats and boot trays and get ready to enjoy warmer weather in a well-protected and dry house.

Want to chat more about preparing your house for spring? Leave a comment below or get in touch with me anytime.

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FEATURED OTTAWA NEIGHBOURHOOD SERIES: Sandy Hill

Photo credit: Parks Canada

The Ottawa neighbourhood of Sandy Hill is located just south-east of Ottawa’s downtown core.  It is bound by Rideau Street, Besserer Street, and Daly Avenue to the north, Highway 417 and Nicholas Street to the south, the Rideau River to the east, and the Rideau Canal to the west.

Historically, Sandy Hill was a logging site that belonged to some of Ottawa’s major landowners, including Colonel By and Louis Besserer.  They subdivided the land, and Sandy Hill officially became the home to most of Ottawa’s lumber barons, while their blue collar labourers lived in the communities just to their west.

When Ottawa was tapped as the capital, Sandy Hill became home to senior public servants and to the prime minister, who lived at Laurier House (previously known as Stadacona Hall).  For over fifty years, this Victorian mansion in Sandy Hill was at the heart of Canadian political life, serving as the residence of both Sir Wilfrid Laurier and the Rt. Hon. William Lyon Mackenzie King.  Sandy Hill was also the historic home of “the College de Bytown”, which is now the University of Ottawa.

Many homes in Sandy Hill are large residences from the late 19th and early 20th centuries that have now been subdivided into apartments, or have become embassies or headquarters for nonprofit organizations. The growth of the University of Ottawa has attracted many students to the area, who live, work, and play in the neighbourhood.

The benefits of having the University in the community are enormous, as it offers many facilities and programs that have special rates specifically for Sandy Hill residents. This includes access to the Montpetite fitness health and lifestyle centre, the uOttawa Minto Sports Complex squash courts, and so on.   Additionally, the University hosts a wide varety of sports camps, spanning from dancing and swimming to fencing and soccer.

Beyond the university, there are many other restaurants, bars, cafes, shops, and other services that make the neighbourhood a great place to live.

Sandy Hill is truly an eclectic community due to the diversity of its residents and housing types.  As a result, the neighbourhood has established Action Sandy Hill (ASH), a community association that “strives to represent the diversity and interests of the community it serves”.

If you would like to learn more about what Sandy Hill has to offer, get in touch with me. I’d be happy to show you around!

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FEATURED OTTAWA NEIGHBOURHOOD SERIES: Vanier

The Ottawa neighbourhood of Vanier is located just east of the Rideau River, bounded by Beachwood Avenue to the north, St. Laurent Boulevard to the east, and McArthur Avenue to the south. The community is surrounded by New Edinburgh, Rockliffe Park, Lindenlea, and Manor Park.

Originally the area was actually made up of three smaller villages; Clarkstown, Clandeboye, and Janeville.  In 1908, the three villages were amalgamated into Eastview, which eventually became “the City of Eastview” in 1963.

In 1968, the Government of Ontario (under the leadership of Premier John Robarts) amalgamated Eastview with the Ottawa-Carleton Regional Municipality.   One year later, in 1969, Eastview was renamed after Major-General Georges-Philéas Vanier, who died at his post in 1967.

Finally, in 2001, Vanier completely amalgamated with the City of Ottawa.

Historically, Vanier was a low-income working class neighbourhood, much another historical Ottawa neighbourhood recently featured on this blog, Mechanicsville. Over the years, Vanier developed a reputation as a “rough” part of the city where many were reluctant to venture.  This reputation has slowly been changing in recent times as crime statistics in the neighbourhood continue to decline.

Today, given the ongoing gentrification and investment in the neighbourhood, Vanier has become an incredible investment opportunity for those looking to purchase real estate.  The value of Vanier comes from its relative proximity to downtown, and its affordability compared to other comparable neighbourhoods (examples include Old Ottawa South, Westboro, Wellington Village, and Little Italy).   Vanier is one of the last affordable inner-greenbelt neighbourhoods undergoing gentrification, so now is truly the time to buy.

This gentrification has also brought an influx of interesting new businesses, including furniture and home accessories retailers Zuffa Home and Vanier Moderns.

If you would like to learn more about what Vanier has to offer, get in touch with me. I’d be happy to show you around!

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FEATURED OTTAWA NEIGHBOURHOOD SERIES: Old Ottawa South

Photo Credit: OSCA.ca

 

Old Ottawa South is bounded by the Rideau Canal to the north, the Rideau River to the south, Bronson Avenue to the west, and Avenue Road to the east. For those already familiar with Ottawa’s various communities, this neighbourhood can be found just south of the Glebe.

Like the Glebe, the historic neighbourhood of Rideauville (Old Ottawa South) can be traced back to the 1800s.   Its most historic feature is the Rideau Canal, which was actually a barrier to its growth in its early days, as there was only a wooden swing bridge prior to the extension of Bank Street south of the Canal.   South of Rideauville was a rural community known as Billings Bridge, which remains – although it is no longer a rural part of the city.

The City of Ottawa annexed Rideauville in 1907. Shortly after the purchase, the city brought public transit across the Rideau Canal via the Bank Street Bridge, which had a positive impact on the growth of Old Ottawa South.

Today, Old Ottawa South is a vibrant community that is home to roughly 8400 residents.  Twenty-one percent of the homes are rented versus seventy nine percent owner-occupied.  Many of the tenants are either Carleton University students or professors who are renting in the area.  The balance of the population is middle to upper-income families living in single, Craftsman style homes originally built in the 1920s and 1930s.

Old Ottawa South has many stores and restaurants along Bank Street, but it is particularly famous for its Antique Stores. Some notable examples include Yardley’s Antiques, Ottawa Antique Market, and Champagne dit Lambert Antiques Ltd.  In addition to the antique stores, Old Ottawa South is also famous for the Mayfair Theatre which was built in 1932 and still exists today.   The House of Targ is a newcomer to the neighbourhood, offering drinks, pinball, perogies, and live entertainment in a nod to the 1970s and 1980s.  Of course there are also many other restaurants, bars, cafes, and entertainment options to choose from as well.

To learn more about what Old Ottawa South has to offer, please visit the Old Ottawa South Community Association website, or get in touch with me. I’d be happy to show you around!

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FEATURED OTTAWA NEIGHBOURHOOD SERIES: Mechanicsville

Photo: Ottawa Innovation Centre – Ottawa.ca

If you have ever been on the transit way between the Ottawa Parkway and downtown, you’ve passed by Mechanicsville and probably didn’t even know it.  In fact, you may have even thought that you were in the community of Hintonburg, which is actually directly south of Mechanicsville.

Mechanicsville is located along Scott Street, just north of Hintonburg .  According to The Mechanicsville Community Association website, its boundaries are the Parkway to the North, O-train to the East, Scott Street to the South, and Parkdale Avenue to the West.

Mechanicsville is perhaps one of the smallest neighbourhoods I’ve written about so far in my Featured Ottawa Neighbourhoods Series, as it encompasses roughly only 8 streets in total.  However, what makes this neighbourhood so compelling is its position relative to downtown and its enormous potential for development.

Historically, Mechanicsville was first settled around 1875 as a subdivision of Nepean. It grew when displaced residents moved in after the 1900 Hull-Ottawa Fire, which destroyed two-thirds of Hull and one-fifth of Ottawa.  By 1911, the City of Ottawa annexed Mechanicsville from Nepean, and it became home to many of Ottawa’s blue collar workers.

The houses in Mechanicsville were small and modest, as you would expect of a working class neighbourhood.  When the National Capital Commission (NCC) began building the Ottawa River Parkway, a large portion of Mechanicsville that was located along the waterfront was destroyed to accommodate this new road, reducing the overall size of the community.

Today, Mechanicsville is joining Ottawa’s plans for intensification.  It is an eclectic mix of all types of housing – from freeholds and towns to apartment buildings.  Like the surrounding communities of Wellington Village, Hintonburg and Westboro, you can see evidence of infills and renewal throughout the neighbourhood.

One of the biggest projects in Mechanicsville is the plan for Bayview Yards. Bayview Yards is a 16 acre piece of land that is currently home to a derelict city workshop and a massive area designated for a snow dump.  The city is planning on building an innovation centre to house a 46,000 square foot complex that will house entrepreneurs, new companies, and more established firms.  To learn about the plans and see the design concept click here.

Mechanicsville has all the right ingredients to be the next big thing in Ottawa real estate: it’s five minutes from downtown by car (8 minutes by bicycle), is located along the LRT line, and is adjacent to the Ottawa River and its bike paths.   Mechanicsville truly is a place where you can live, work, and play all within minutes from the downtown core.

To learn more about what Mechanicsville has to offer, please visit the Mechanicsville Community Association or get in touch with me. I’d be happy to show you around!

 

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Isn’t all Real Estate the same?

Often people assume that I practice and sell all types of real estate, everything from a quaint Cape Cod home to a sprawling 100 acre family-owned farm.

The thing is technically, they’re right. I can ‘sell’ any type of real estate across Ontario. My licence allows me to sell from Windsor to Elliot Lake and everything in between. In my opinion, having an agent who believes they can practice any type of real estate and anywhere their licence allows is not serving the public’s interest.

Firstly, I’d like to point out that I ‘practice’ real estate and not ‘sell’ real estate. I feel the difference is in how the real estate professional chooses to hone their skills:

‘Selling’ Real Estate: This approach, comes from the belief that houses are a commodity (which they are!) and like any commodity they are ‘sold’ to the public/party who wishes to acquire them. I see this as an adversarial approach, and one that is constantly fighting upstream. I have no issue with it, just see it as always looking for the ‘next one’ without focusing on the client.

‘Practice’ Real Estate: I chose this style of real estate for one main reason. I don’t sell. Nothing fancy, I just don’t believe in ‘selling’ to my clients, peers or the public. I believe if I offer value and support to my industry, clients and others that I will attract clients and have a successful career, not a job. I believe my role is as a facilitator, negotiator and to provide solutions and options.

I point out the above to bring attention to how real estate business is done, and the reason goes back to the title of this Blog: Isn’t all real estate the same?

I’ve listed below the different types of Real Estate, what they mean and their differences: (*note: descriptions courtesy of the Ottawa Real Estate Board website: www.ottawarealestate.org)

Residential:  The residential property class includes detached, semi-detached, multi-unit (townhouse/stacked/apartment) and duplex/doubles (two separate living units in the same building, on the same title) properties that are NOT registered as condominiums. The property owner holds freehold title to the dwelling unit and accompanying block of land.

Condominium:  The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares.

Lot:  A piece of property which is typically without buildings or structures. (A structure may exist on the property but the property is being sold for the land value only.) The property does not have a commercial zoning designation.

Commercial: Commercial property class refers to buildings or land intended to be used either for the operation of a business enterprise or to generate a profit either from capital gains or rental income. Businesses intended to generate a profit are also included in the commercial property class.

Multi-Family (Residential): Multi-Family (Residential) is a property which is a double (side by side), duplex (up and down), triplex or a fourplex. In the case of doubles and duplexes, they may also be listed in the Residential property class and cross referenced. Properties which have 5+ units must be listed under the Commercial Property Class.

Farm:  A farm, ranch or agribusiness.

Rental:  Any Residential property that is available for rent.

In reviewing the list, it’s clear there is a lot of information to be aware of which would lead to needing to constantly be updated on the latest in federal, provincial and municipal laws that can and do affect real estate transactions and real estate law.

I chose to focus my business model on the following four areas, as that’s how I view organized real estate and I only practice real estate within the Ottawa Real Estate Board and surrounding Boards:

Residential: First-time home buyers, re-locations, down-sizing and life-status changes.

Condominium: Same as residential, but additional training to understand the Condominium Act and what that entails for my buyers & sellers.

Investment: This is a broad scope, meant to cover those clients that are purchasing either residential, condominium, lot, commercial, rentals or multi-family for investment purposes. This can be everything from renovating an old home to re-sell later to a strip mall for long-term returns.

Commercial: This and Investment are closely tied and often the same depending on the client’s needs and business plan. This also includes commercial leasing for Landlords and representing commercial tenants in securing a space for their business.

Note: I specifically chose not to trade in Farm/Agribusiness as I know that is as detailed if not more that the above. I have a great network of fellow agents who I work with in that field that I refer that business to. This allows the client to have the best representation available to them and I know that they will be taken care of.

By choosing early on to focus my business into 4 areas of service that I felt I could be of value, has allowed me to tailor my training and education to specialized courses, seminars and continuing education both within organized real estate and outside sources.

I’ve also been able to create a circle of trusted peers, co-workers and industry experts that I can reach out to and bring into the process should the client’s requirements call for it or refer to another Realtor® in another city who has the same standard of client care and commitment as I do.

I firmly believe that to be in a business where referral’s and client trust is paramount that a Realtor® needs to anticipate where the industry is going by always engaging in education, training and expanding their sphere of knowledge. I see the world of real estate demanding more of the average real estate agent, and I’m looking forward to increased expectations and standards!

Should you have any questions/comments about the above or just want to chat about the world of real estate, don’t hesitate to reach out.

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FEATURED OTTAWA NEIGHBOURHOOD SERIES: The Glebe

Photo Source: Ottawa Citizen

The Glebe has truly become one of the hottest neighbourhoods in Ottawa.  In fact, chances are if you weren’t running in The Ottawa Race Weekend last Saturday, then you were likely poking through items at the Great Glebe Garage Sale.

The Glebe is an urban neighbourhood directly south of downtown.  The community is bound along the East and South by the Rideau Canal. The northern part of the Glebe is bound by the Queensway with the West bounded by Dows Lake.  Historically, Glebe means “land belonging or yielding revenue to a parish church or ecclesiastical benefice”, which is fitting since the area was once owned by St. Andrew’s Presbyterian Church.

If you would have asked someone if they wanted to move to the Glebe in the late 1700s, you wouldn’t have been very successful.  Just ask George Hamilton, who had his grant of the area revoked in 1797 due to not one person wanting to move there after seven years.   So why did George Hamilton have such a problem?

Prior to the commencement of the Rideau Canal in 1826, the Glebe was largely a swamp. In fact, Dow’s Lake at the time was known as Dow’s Great Swamp and Patterson’s Creek, which is just north of First Avenue and was used as a dumping ground for refuse and waste materials.

Today, the Glebe is one of Ottawa’s trendiest and most sought after neighbourhoods.   Most of the houses in the Glebe are single freehold homes built before 1946; however there are plenty of options for row houses and condominiums.  Residents of the Glebe, or “Glebites” as they are often called, include young professionals, families, students, and retirees; all of whom enhance the vibrancy of the neighbourhood.

The Glebe is anchored by Bank Street (which gets its name from its starting point along the bank of the Ottawa River), which runs from North to South through the neighbourhood.  The Glebe is home to many excellent shops, restaurants, and fitness facilities – making it an ideal neighbourhood for those who want access to many amenities.

Perhaps one of the biggest attractions in the Glebe is the recently redeveloped Lansdowne Park.  The area was initially purchased in 1868 by the Ottawa Agricultural Society, who used the land as a fairground that also hosted carnivals, circuses, exhibitions, and sporting events.  Today, Lansdowne still provides the same role that it did 147 years ago.  Lansdowne is now the home of the Ottawa Redblacks, the Ottawa Fury FC, and the Ottawa 67s.  It is also host to Ottawa’s Farmers’ Market and many other unique events, including festivals and concerts.

To learn more about what the Glebe has to offer, please visit the Glebe Community Association website, or get in touch with me. I’d be happy to show you around!

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