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 
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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. 

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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!



 

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I really lucked out when a friend of mine recommended Rachel to help me find my perfect property. Rachel is a pleasure to work with and she is always a few steps ahead when thinking of all of the things you need to think about when putting an offer on a home. I will definitely use her for my next house purchase!
• Anne