[vc_row][vc_column][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column width="5/6"][vc_column_text][/vc_column_text][vc_empty_space][vc_column_text] Canada Economic Outlook: A Rapidly Changing Landscape   The report, released by CBRE Canada Research on April 7th, discusses the following: Canadian GDP Forecast - GDP growth revised downwards in 2020; Canadian Employment Forecast - Significant job loses expected in Q2 & Q3; Canadian Unemployment Forecast - Unemployment rate to spike to recede; Canadian Oil Industry - Canadian WCS Oil at $14 per barrel, half of US WTI pricing; Canadian Debt Markets - Debt markets responding to global reset in pricing; Canada's Massive Fiscal Stimulus Measures; Canada's Economic Landscape - Risks, uncertainties & silver linings [/vc_column_text][vc_btn title="Read the Full Report Here" color="peacoc" link="url:https%3A%2F%2Ff.tlcollect.com%2Ffr2%2F120%2F90832%2FCBRE_Canada_Economic_Outlook_Apr_7_Final.pdf||target:%20_blank|"][/vc_column][vc_column width="1/6"][/vc_column][/vc_row]

[vc_row][vc_column][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column width="5/6"][vc_column_text][/vc_column_text][vc_empty_space][vc_column_text] Property Tax Guidance for the COVID-19 Pandemic    Altus Group has prepared a summary of the status of deferral programs for each of the 11 major Canadian cities covered in their annual Canadian Property Tax Rate Benchmark Report.   Vancouver, BC Last update: March 29, 2020 (1) Tax Payment Dates Deferred and/or (2) Interest  & Penalty Charges on Late Payments Suspended: YES City extending Property Tax due date by 60 days from July 2, 2020 to September 1, 2020 50% reduction in school taxes for most non-residential properties. Savings will vary across tax jurisdictions but will equate to an average property tax reduction of 20%. Source: https://vancouver.ca/home-property-development/covid-19-coronavirus-within-vancouver.aspx   Click here to Review Property Tax Information for Other Municipalities [/vc_column_text][/vc_column][vc_column width="1/6"][/vc_column][/vc_row]

[vc_row][vc_column][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column width="5/6"][vc_column_text][/vc_column_text][vc_empty_space][vc_column_text] COVID-19: ECONOMIC IMPACT & SECTOR UPDATE   These views reflect our current thinking of the macroeconomic impacts of COVID-19, which call for a sharp downturn through Q3 of this year before improvements towards the end of the year into 2021. If the macroeconomy experiences a different type of recession and recovery, the timing of these short and long-term effects may differ from our current outlook but should eventually play out in the market.   Watch the Full Presentation Here   Download Flash-Call Slides Here [/vc_column_text][/vc_column][vc_column width="1/6"][/vc_column][/vc_row]

[vc_row][vc_column][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column width="5/6"][vc_column_text] [/vc_column_text][vc_empty_space][vc_column_text] Supporting renters, landlords during COVID-19   To support people and prevent the spread of COVID-19, the Province is introducing a new temporary rental supplement, halting evictions and freezing rents, among other actions. The new rental supplement will help households by offering up to $500 a month towards their rent, building on federal and provincial financial supports already announced for British Columbians facing financial hardship. “With lost jobs and lost wages due to COVID-19, many tenants are worried they can’t make the rent. It’s a challenging time for landlords too,” said Premier John Horgan. “Nobody should lose their home as a result of COVID-19. Our plan will give much-needed financial relief to renters and landlords. It will also provide more security for renters, who will be able to stay in their homes without fear of eviction or increasing rents during this emergency.” The funds will support renters experiencing a loss of income by helping them pay their rent and will be paid directly to landlords on their behalf, to ensure landlords continue to receive rental income during the pandemic. CONTINUE READING ON THE BC GOV WEBSITE HERE. [/vc_column_text][/vc_column][vc_column width="1/6"][/vc_column][/vc_row]

[vc_row][vc_column][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column width="5/6"][vc_column_text][/vc_column_text][vc_empty_space][vc_column_text] March 25th Government Announcement Regarding Residential Tenancies and COVID-19   What Landlords Need to Know   The announcement made by Premier John Horgan, Housing Minister Selena Robinson, and MLA Spencer Chandra-Herbert outlined several initiatives and policy changes that will occur to address the unique challenges landlords and tenants are facing in the time of COVID-19. The plan from government has a broad scope, touching on rent increases, evictions, access to common areas, methods of service, and landlords’ access to rental units. With that said, a core message delivered by the Premier is that tenants should still be paying their rent and the Province of BC, in partnership with other provincial and federal aid programs, will be there to ensure they are.   Read the Full Article HERE   Additional Resources For Landlords: Breakdown of Federal and Provincial Aid Plans Example Letter to Tenants, Building Owners & Managers [/vc_column_text][/vc_column][vc_column width="1/6"][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text][/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column width="5/6"][vc_empty_space][vc_column_text] COVID-19 preparedness tips for landlords Best practices for preventing a building-wide outbreak   All businesses are impacted by the COVID-19 virus, but rental-housing providers play a unique and critical role in the battle to mitigate the spread of this highly communicable disease. As several Canadian provinces declare a state of emergency and the federal government imposes new and extreme measures to contain the virus, apartment building owners are facing unknown futures with tenants and frontlines staff not only at risk, but potentially headed for quarantine as the virus continues to spread. In the face of this unprecedented health crisis, how are rental property managers coping? What are the current best practices for keeping people safe? According to multiple industry sources, much of it comes down to preparedness, communication and engaging in hyper-vigilant cleaning practices. “At Greenwin, we care deeply about our employees, our communities and our residents, and take the COVID-19 situation very seriously,” said Kris Boyce, CEO of Greenwin. “Right now, our focus is on ensuring they have the information, resources and support they need to stay healthy and safe. At this point we are fortunate in that there has not yet been a confirmed case of COVID-19 in any of our buildings, but in the event that this happens we are confident in our level of preparedness.” Continue reading the article on REMI Network HERE.[/vc_column_text][/vc_column][vc_column width="1/6"][/vc_column][/vc_row]

[vc_row][vc_column][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column width="5/6"][vc_column_text]Over 15,000 of CBRE's clients and colleagues dialed into the March 18 Flash Call on COVID-19 Impacts to Commercial Real Estate. CBRE specialists, along with an equity market analyst from Citi, examined the impacts on the macro economy, specific real estate asset classes, capital markets, publicly-traded securities as well as key operational issues. Listen to the recording below:   [/vc_column_text][vc_empty_space][vc_column_text] Download the Presentation Here [/vc_column_text][/vc_column][vc_column width="1/6"][/vc_column][/vc_row]