Does the new Vacant Property Bylaw apply to you?

Dearest Friends,

This summer, Ottawa introduced a new policy aimed at increasing the local housing supply. The city council approved a residential vacant unit tax with hopes it will spur landlords to quickly rent out their units. This new policy, called the Vacant Property Bylaw, requires owners to obtain a license if a property (that is not their primary residence) has been unoccupied for 120 consecutive days. Anyone completing renovations on a property that is not their principal residence will be assessed the $1,507/year licensing fee.

The new bylaw applies to freehold residential properties (up to a sixplex) and commercial properties. If the vacancy period stretches passed 184 days, the owner will receive a 2nd tax equal to 1% of the assessed value of the property. You can read more about the new policy in the Recommended Reading below.

This policy is intended to increase the available housing supply for renters and take pressure off of Ottawa's competitive real estate market. If you own investment properties or are considering investing as a landlord, we'd be happy to discuss your plans and how the new bylaw may impact you.

Sincerely,

The entire team at rachelhammer.com

Forward

Committee moves to improve accountability for vacant property owners

The City’s Community and Protective Services Committee approved a new by-law that would hold property owners accountable for managing their vacant buildings and lands through a new permit system. The Vacant Property By-law would require owners of properties unoccupied for 120 consecutive days to obtain a permit and to follow regulations for identifying, managing and visiting their sites.

Read More

24 Coldstream Drive

Updated from top to bottom: come see this contemporary 5 bed, 3 bath home with a truly amazing backyard!

Read More

534 Stargazer Crescent

This three bed, three bath end unit in the heart of Riverside South is full of elegant touches on all three levels. Take a closer look inside:

Read More

59 Hyannis Drive

Not to be missed, this 4 bed, 4 bath family home sits on one of the very best lots in Riverside South. Plus, it offers an enviable 3-car garage!

Read More

2 Ridingview Crescent

This six bed, five bath family home offers a beautiful lower-level in-law suite and lots of outdoor space to roam.

Read More

401 Pine Grove Road

Located only 10 minutes to Carleton Place and 15 minutes to Perth, this home offers country living with easy access to everything you need and so much more.

Read More

919 Nokomis Place

This new Westlynn model by Mattamy offers four bedrooms, three bathrooms, and over 2800 square feet of living space.

Read More

253 Deerfox Drive

This three bedroom, four bathroom Basswood model by Tartan has been updated from top to bottom by original owners.

Read More

34 Raftus Square

This family home sits on an exceptionally wide lot -- nearly 62 ft width in the backyard, which has been maximized for fun.

Read More

684 Melbourne Avenue

This two bedroom, one bathroom bungalow sits on an exceptionally deep lot on a quiet street, with plenty of space to garden.

Read More

This Month's Question:

The month of July was named after which historic figure?

The first five individuals to respond correctly will win a $10 Starbucks gift card! Email your answers to info@rachelhammer.com

(Only one winner per household will be awarded a gift card and all previous winners must wait a minimum of 30 days before being able to win this trivia question)

Last month's question: Who chose the name British Columbia?
Answer: Queen Victoria

Congratulations to:

Chris B., Lindsay U., Melanie D., Steven B., and Isabelle S. who won last month's trivia!

Copyright © 2022 Royal LePage Team Realty, Hammer & Associates, Brokerage Inc., All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list