Radha Guduru - Realtor

Buying or selling a property is one of the most important financial decisions you’ll ever make.

At Not a Dream Realty, we believe clients deserve clarity, transparency, and expert guidance—without pressure, gimmicks, or conflicts of interest.

No algorithms. No shortcuts. Just real market knowledge, strong negotiation, and full-service advocacy.

Whether you’re planning your next move now or simply thinking ahead, the right decisions today shape your future tomorrow.

This holiday season and into the new year, choose clarity. Choose confidence. Choose experience.

🎄✨ Merry Christmas, Happy Holidays✨🎄

Bill 60, Building Faster Act, 2025, has officially passed, and is now awaiting Royal Assent. Once fully enacted, it will introduce several key changes that impact Ontario landlords at the LTB:

Reduced “rent arrears” notice-period
Under the current law, when a tenant fails to pay rent, a landlord issues an N4 notice and the tenant typically has ~14 days before a formal LTB application for eviction can be filed. Bill 60 proposes reducing that time to 7 days. A shorter window may reduce risk of arrears growing too large.

Limits on tenant defences at LTB hearings
Changes under Bill 60 propose that at rent arrears hearings:
Tenants may not be allowed to introduce new issues (such as maintenance/repair claims) unless they first pay 50% of the claimed arrears. This can reduce the scope of delay tactics or procedural challenges and enable faster adjudication.

Shorter appeal/review window
Presently, parties can request a review of LTB orders within ~30 days. Bill 60 aims to cut this to around 15 days.

Evictions for landlord’s own-use (N12/N13) – compensation changes
For evictions where you are moving into the unit (or a family member is) under the “landlord’s own-use” grounds, Bill 60 proposes eliminating the requirement to provide one month’s rent compensation (or an alternative unit) if proper notice is given.

Faster enforcement and streamlined LTB process
The Bill emphasises reducing delays at the LTB, giving the province greater ability to set rules/forms, restricting the LTB’s ability to review certain decisions, and making decisions more accessible/public. Means less waiting time for application processing, hearings and orders enforcement.

Public access to LTB decisions/orders
The Bill increases transparency: LTB decisions and orders may be more publicly accessible. You might use the published decisions as precedent or insight for your cases. Also, must ensure your filings are clean and properly documented because they become part of a public record.

Fighting Delays, Building Faster Act, 2025 Bill 60 from Parliament 44 Session 1 of the Legislative Assembly of Ontario: Fighting Delays, Building Faster Act, 2025.

HVAC Leasing Class Action
If you are a homeowner in Canada (except Quebec) and are or were at any time party to a lease agreement for HVAC or HVAC-related Equipment with Crown Crest, Sandpiper Energy Solutions, Simply Green Home Services, or HCSI Home Comfort , between July 17, 2013 and January 15, 2025, you could be affected by these class action lawsuits involving certain alleged breaches of consumer protection legislation and other claims.

The class actions apply to all individuals in Canada, with the exception of residents of Quebec, who are or were at any time, directly or indirectly, party to a consumer agreement to lease HVAC or HVAC-Related Equipment involving the Settling Defendants, regardless of the identity of the vendor that originated the consumer agreement, between July 17, 2013, and January 15, 2025.

This settlement provides both monetary and non-monetary elements such that there is no fixed individual payment and the payment will vary depending on the ultimate take-up rate. Individuals who paid the defendants a buyout or termination fee are eligible for a cash reimbursement no larger than the actual amount that they paid.

Only individuals who paid any of the Settling Defendants a buyout or termination fee may be eligible for cash compensation. Individuals in active leases automatically benefit from some of the lease modification benefits of the settlement.

Please check the link to apply https://veritaconnect.com/hvacleasingsettlement

Just a moment...

Effective January 14, 2025, historical sale data for properties listed in the ITSO system will be accessible on REALTOR.ca®. This new functionality addresses consumer demand for greater transparency and ensures that the platform remains competitive amid increasing pressures from foreign entities in the market. (Source)

Now on historical information will appear on REALTOR.ca®:

Required: Consent to Advertise

To comply with privacy regulations, publicly advertising sale prices will require consent from both the buyer and the seller. To streamline this process, ITSO has introduced a “Consent to Advertise” flag that REALTORS® can set when reporting transactions. If a listing has this flag set to “Yes”, the property's information will remain visible on REALTOR.ca after the status is marked as “Pending Sold”. While the listing is pending, the sale price will not be displayed; however, once the listing has moved to “Closed” status, the reported sale price will be shared with CREA for inclusion on REALTOR.ca.

The scheduled dates for the interest rate announcements for 2025 are as follows:

Wednesday, January 29
Wednesday, March 12
Wednesday, April 16
Wednesday, June 4
Wednesday, July 30
Wednesday, September 17
Wednesday, October 29
Wednesday, December 10

Government announces 30 year amortizations for insured mortgages to put homeownership in reach for Millennials and Gen Z for insured mortgages for first-time homebuyers purchasing new builds.

Government announces 30 year amortizations for insured mortgages to put homeownership in reach for Millennials and Gen Z - Canada.ca Government announces 30 year amortizations for insured mortgages to put homeownership in reach for Millennials and Gen Z

The Bank of Canada has reduced the policy rate by 25 basis points to 4.5%. For more information, read the BOC's Monetary Policy report for July 2024: https://www.bankofcanada.ca/2024/07/mpr-2024-07-24

Policy interest rate The Bank carries out monetary policy by influencing short-term interest rates. It does this by adjusting the target for the overnight rate on eight fixed dates each year.

Bank of Canada reduces policy rate by 25 basis points

The Ontario government is introducing the Homeowner Protection Act, 2024, a groundbreaking piece of legislation designed to provide stronger protections for homeowners and buyers of new freehold homes.

Key highlights of this proposed legislation include:

Banning Notices of Security Interest (NOSIs): The act would ban the registration of NOSIs for consumer goods on the Land Registry and deem existing NOSIs for consumer goods as expired. This will put an end to the exploitation of our elderly and most vulnerable residents by unscrupulous actors.

10-Day Cooling-Off Period: New homebuyers will have a 10-day cooling-off period to cancel agreements without penalties, giving them the time and information needed to make confident decisions.

Stronger Consumer Protections:

Public Disclosure: Ensuring transparency with builder cancellations of purchase agreements for new freehold homes.
Crackdown on Illegal Home Building: Consulting on proposals to combat illegal home building and selling.
Condominium Authority Tribunal: Expanding its jurisdiction to cover more disputes, offering condo owners better resolution options.
Heritage Property Conservation: Proposed amendments to the Ontario Heritage Act will ease administrative pressures on municipalities, prioritizing properties most important to communities and supporting future housing construction.

Protection Act, 2024

Details on NRST

Non-resident Speculation Tax (NRST)
In 2017, the Ontario Government introduced the Non-resident Speculation Tax (NRST). The NRST is a tax on the price of homes bought anywhere in Ontario purchased by people who aren’t citizens or permanent residents of Canada or by non-Canadian corporations. This new tax is in addition to Ontario’s land transfer tax payable.

Effective October 25, 2022 this tax is 25%.

The geographical areas covered in the GGH include:

City of Barrie
County of Brant
City of Brantford
County of Dufferin
Regional Municipality of Durham
City of Guelph
Haldimand County
Regional Municipality of Halton
City of Hamilton
City of Kawartha Lakes
Regional Municipality of Niagara
County of Northumberland
City of Orillia
Regional Municipality of Peel
City of Peterborough
County of Peterborough
County of Simcoe
City of Toronto
Regional Municipality of Waterloo
County of Wellington, and
Regional Municipality of York.
The NRST is not applied to the purchase of homes where the Agreement of purchase and sale was entered into on or before April 20, 2017.

Real estate matters involve large sums of money and complicated legal issues. To get help, ask a lawyer now.

Individuals and entities subject to the NRST
The NRST applies to foreign nationals, foreign entities and taxable trustees.

1. Foreign nationals: Individuals who are not Canadian citizens or permanent residents of Canada

2. Foreign corporations:

– Corporations incorporated outside Canada

– Corporations incorporated in Canada that are:

controlled by a foreign national, or
controlled by a corporation incorporated outside Canada; or
corporations that if all the shares of the corporation which are owned by a foreign national or by a corporation incorporated outside Canada were owned by a particular person would be controlled within the meaning of section 256 of the Income Tax Act
3. Taxable trustees: A trust with at least one trustee that is a foreign entity, or if a beneficiary is a foreign entity.

Types of property covered by the NRST
The NRST only applies to the purchase of land with at least one and not more than six single family residences, such as:

detached and semi-detached houses
townhouses
condominium units
duplexes, triplexes, fourplexes, fiveplexes and sixplexes.

The NRST does not apply to the purchase of multi‑residential buildings with more than six units, or to agricultural, commercial or industrial land.

How is the tax calculated?
The NRST is calculated on the purchase price of the residential property. For example, if a single family detached home sold for $800,000, the NRST would be $120,000. If the purchase includes a residential property covered by the NRST as well as an excluded type of property, such agricultural land, the NRST only applies to the portion of the purchase price that relates to the residential property. For more information on the NRST, visit the Ontario Ministry of Finance website.

Underused Housing Tax
The Underused Housing Tax took effect on January 1, 2022. It is an annual 1% tax on the value of any residential property in Canada considered underused or vacant by the Canada Revenue Agency (CRA). While the tax usually applies to non-resident, non-Canadian owners, there are situations where it also applies to Canadian owners.

The penalties for failing to file an Underused Housing Tax return when it is due are serious:

individuals are subject to a minimum penalty of $5,000
corporations are subject to a minimum penalty of $10,000
For more information, visit the CRA.

New temporary law: Prohibition on the Purchase of Residential Property by Non-Canadians Act

The Government of Canada has passed a new law, the Prohibition on the Purchase of Residential Property by Non-Canadians Act. Beginning January 1, 2023, the Act prevents non-Canadians from buying residential property in Canada until January 2027. The ban applies to:

individuals who are not Canadian citizens or permanent residents
non-Canadian company owners

A residential property is defined as:
buildings with 3 homes or less, and
parts of buildings e.g. semi-detached houses or condominium units
Penalties: Any non-Canadian or anyone who knowingly assists a non-Canadian and is convicted of violating the Act will be fined up-to $10,000 and may be ordered to sell the property.

The ban does not apply to non-Canadians who are looking to rent. For more information, visit Canadian Mortgage and Housing Corporation (CMHC).

EXCEPTIONS CONTAINED IN THE ACT AND REGULATIONS
The Act and Regulations provide exceptions, including for the following persons:

Temporary residents studying in Canada, if they:

are enrolled in a program of authorized study at a designated learning institution as defined in the Immigration and Refugee Protection Regulations, and
have filed income tax returns for each of the 5 taxation years preceding the year in which the purchase was made, and
have been physically present in Canada for a minimum of 244 days in each of the 5 calendar years preceding the year in which the purchase was made, and
have not previously purchased a residential property in Canada while the prohibition is in effect, and
purchase a property for a price not exceeding $500,000
Temporary residents working in Canada, if they:

hold a valid work permit or are authorized to work in Canada, and
have 183 days or more of validity remaining on their work permit or work authorization at time of purchase, and
have not previously purchased a residential property in Canada while the prohibition is in effect
Refugees, if they:

have been given refugee protection or are a protected person under the Immigration and Refugee Protection Act
Refugee claimants and individuals fleeing international crises, if they:

have made a claim for refugee protection in accordance with the Immigration and Refugee Protection Act, if that claim has been found eligible and referred to the Refugee Protection Division; or
have received temporary resident status in accordance with the Immigration and Refugee Protection Act based on humanitarian public policy considerations to provide a safe haven to those fleeing conflict
Accredited members of foreign missions in Canada, if they:

hold a passport that has a valid diplomatic, consular, official, or special representative acceptance issued by the Chief of Protocol of Canada
Non-Canadians spouses and common-law partners, if they:

purchase residential property in Canada with their spouse or common-law partner who is a Canadian citizen, a person registered under the Indian Act, a permanent resident or a non-Canadian for whom the prohibition does not apply.
Section 35 Rights – Indigenous People and Communities
The Regulations clarify that the prohibition doesn’t apply if it conflicts with the rights recognized and affirmed by Section 35 of the Constitution Act, 1982.

Section 35 recognizes and affirms the existing Indigenous and treaty rights of Indigenous peoples of Canada. These may include ownership rights to land, rights to occupy and use lands and resources, land to be set aside for First Nation use only, self-government rights and cultural and social rights.

Exceptions for Certain Types of Property
The Regulations include an exception for any residential property found outside of a Census Metropolitan Area (CMA) or Census Agglomeration (CA) as identified in Statistics Canada’s Standard Geographical Classification 2021.

Both CMAs and CAs are formed by 1 or more adjacent municipalities centered on a population centre, or the core.

A CMA must have a total population of at least 100,000 of which 50,000 or more must live in the core and a CA must have a core population of at least 10,000.

Q. Does the Prohibition on the Purchase of Residential Property by Non-Canadians Act apply to temporary residents who have studied in Canada and are now working after completing their studies, if they have been physically present in Canada for several years?
The Act and Regulations provide exceptions for the following temporary residents:

Temporary residents studying in Canada, if they:
are enrolled in a program of authorized study at a designated learning institution as defined in the Immigration and Refugee Protection Regulations, and
have filed income tax returns for each of the 5 taxation years preceding the year in which the purchase was made, and
have been physically present in Canada for a minimum of 244 days in each of the 5 calendar years preceding the year in which the purchase was made, and
have not previously purchased a residential property in Canada while the prohibition is in effect, and
purchase a property for a price not exceeding $500,000
Temporary residents working in Canada, if they:
hold a valid work permit or are authorized to work in Canada, and
have 183 days or more of validity remaining on their work permit or work authorization at time of purchase, and
have not previously purchased a residential property in Canada while the prohibition is in effect
The prohibition does not apply to temporary residents that satisfy all the conditions outlined in a) or b).

Prohibition on the Purchase of Residential Property by Non-Canadians Act Effective as of January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”) prevents non-Canadians from buying residential property in Canada for 2 years.

Thank you everyone for your support.

https://www.realtor.ca/agent/1988106
http://rguduru.business.site
http://rguduru.realtor
https://mortgageoutlet.ca/radha-guduru/

Ontario has struck a deal with the federal government to proceed with the province's Highway 413 project while working together to mitigate the effects on species at risk.

Highway 413 - Process & Timeline Highway 413 Ontario map has started to develop materials required for the planning phase of the Federal Impact Assessment process