Hello Hamilton Real Estate Investors!
Today is a good day as I am proud of the two organizations I belong to: Realtors Association of Hamilton-Burlington (RAHB) and the Hamilton District Apartment Association (HDAA) who have done some seriously excellent work in researching a solution to the City of Hamilton’s redundent, big government, proposal of rental licensing which would eliminate 30% of the city’s rentals (imagine how many families and students would be forced out into the streets).
You can read the submission to the planning committee here: http://www.hamiltonapartmentassociation.ca/events/upcoming-events/stop-licensing-in-hamilton/submission-to-planning-committee/
- The RAHB and HDAA met with City staff and the staff pointed out Section 19 of Hamilton’s zoning by-law that converstion of accessory units does NOT require a re-zoning application but rather a building permit (this is news to me, no one at the city has ever mentioned this in our meetings and according to the submission this section seems to have been “lost” to city staff, Realtors, landlords and the public)
- If you’ve read the zoning requirements for a secondary suiting, you’ll know they’re next to impossible due to parking requirements, ceiling height requirements, the % the unit that must be above grade, square footage requirements. E.g. each dwelling unit must be just under 700 square feet and ceilings of 6’9″. Really? There are condos being built in Toronto that are under 400 square feet. And find me a basement in the lower city with a basement with 6’9″ ceiling height. They basically don’t exist unless the owner has spent tens of thousands to dig a basement.
- They recommend adopting the minimum floor area requirements of the Ontario Building Code: 145 square feet for studios; 223 square feet for one-bedroom units, 298 square feet for two-bedroom units and 373 square feet for three-bedroom units.
- lower minimun clearing height to 6’2
- remove minimum lot size or reduce to 120 square meters
- For student housing:
- Create a noice response team: the largest single issue and a graduated fine schedule for the tenants. It’s a good idea to teach your students are respect. We point out the neighbours near our properties that are not student rentals and let them know the consequences of disturbing the neighbours
- Develop What the Neighbourhood Demands: allow for purpose built student rentals. This sounds a bit more challenging as the land values in these areas are not cheap…
- Implement an Off-Campus Student Code of Conduct: already implemented by Mohawk and McMaster should be encouraged to do the same.
Finally, I hope to see you at City Hall on June 18th at 9:30 am! I’ll be there tweeting (@MrHamiltonDotCA) updates and pictures. Past meetings have been heated and us investors have done a great job so far in being present and getting involved.
Hope that helps and Happy Hamilton Investing!
Till next time – Happy Hamilton Investing Everyone!
Erwin | MrHamilton.ca
PS: If you are just starting out investing or a senior investor, it’s always great to hang out and talk real estate with like people. Register today for Mr Hamilton’s next Inner Circle meeting by clicking here
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