• Home
  • Team Members
  • About Us
  • Contact Us
  • Privacy Policy
  • Editorial Policy
  • Cookie Policy
Tricity Daily
No Result
View All Result
  • Home
  • Business
  • Politics
  • Education
  • Law and Order
  • Technology
Monday, March 20, 2023
  • Home
  • Business
  • Politics
  • Education
  • Law and Order
  • Technology
No Result
View All Result
Tricity Daily
No Result
View All Result
Home Business

Royal York Property Management offers financial aid to property owners during these interest rate hikes from the Bank of Canada.

mm by Anil Awasthi
November 10, 2022
in Business
0
Royal York Property Management offers financial aid to property owners during these interest rate hikes from the Bank of Canada.

At a time when the Canadian Real Estate has never been less affordable, Royal York Property Management offers financial aid to property owners who are not able to make ends meet.

Canadian real estate has never been less affordable, according to Canada’s largest bank, RBC. Despite falling home prices, affordability is still eroding due to rising interest rates. Though banks have said that they see home prices falling further to adjust to higher rates, affordability has not improved.

Canadian housing affordability has reached the worst point it’s ever been. A household now requires 60% of its income just to service a mortgage in Q2 2022. It surpasses the previous record of 57% hit in the 90s, and that’s just at the national level. The bank warned it’s even worse in Canada’s largest cities.

One of the largest leasing and property management companies in Canada, Royal York Property Management, calculates rental income for an average one-bedroom condo in Toronto to be approximately $2,145/month. By comparison, the average “caring cost” for a property owner is reckoned to be $2,500, including mortgage.

Starting at $69 a month, Royal York Property Management will fund the shortfall for up to $500 for as long as they manage the property.

How does it work? You send all your monthly expenses to the Accounting Department of Royal York Property Management and after auditing everything accordingly, Royal York will fund you for the shortfall and you see the amount as income to your statement.

This scheme has been around for a couple of months and Mr. Levinson, the President of Royal York Property Management, reports that the feedback from thousands of clients has been “wholly positive”.

Previous Post

Why Thousands of People Trust Eric Oberembt With Their Roofs and Their Life Goals

Next Post

Get to Know Katanna Clarke, an Actress and a Comedy Content Creator

mm

Anil Awasthi

Anil Awasthi founded Tricity Daily with an aim to bring relevant and unaltered news to the general public with a specific view point for each story catered by the team. He is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research. With ample knowledge about the business industry, Anil also contributes his knowledge for the business section of the website.

Next Post
Get to Know Katanna Clarke, an Actress and a Comedy Content Creator

Get to Know Katanna Clarke, an Actress and a Comedy Content Creator

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

Avoiding Legal Pitfalls: What Every Entrepreneur Needs to Know About Getting Sued

Avoiding Legal Pitfalls: What Every Entrepreneur Needs to Know About Getting Sued

March 9, 2023
Wearing Your Thoughts: Introducing Mighty Expressions!

Wearing Your Thoughts: Introducing Mighty Expressions!

March 2, 2023
What Can You Expect From Professional Pool Maintenance Services?

What Can You Expect From Professional Pool Maintenance Services?

March 2, 2023
Create the Perfect Custom Pillow for Your Bedroom Oasis

Create the Perfect Custom Pillow for Your Bedroom Oasis

February 24, 2023
Common Sectors That Make the Most Use of Temporary Buildings

Common Sectors That Make the Most Use of Temporary Buildings

February 14, 2023
How ChatGPT Can Benefit Your Business

How ChatGPT Can Benefit Your Business

February 11, 2023
E-Books Are Convenient While Printed Books Score On Giving Authentic Experience

As a Book Publishing Company, Reviews Matter.

January 18, 2023
Making the Most of Your Ski Trip This Winter

Making the Most of Your Ski Trip This Winter

January 16, 2023
Owing to their Fast House Sale Procedure without Commission, Home Buying Companies are Enjoying a High Demand

More and More Real Estate Investors Are Urging Landlords To Consider Section 8 Tenants

January 9, 2023
Guillermo del Toro, The Mexican Filmmaker Winner of the Oscar for His Animations, now with Pinocchio / Olmo Cuarón: A Whole Legacy to Build

Guillermo del Toro, The Mexican Filmmaker Winner of the Oscar for His Animations, now with Pinocchio / Olmo Cuarón: A Whole Legacy to Build

January 4, 2023
Lab-Away: Bringing the Lab Home

Lab-Away: Bringing the Lab Home

December 31, 2022
Best Hotel Stocks in India to Buy Before The End Of 2022

Best Hotel Stocks in India to Buy Before The End Of 2022

December 29, 2022
The Impact of Music by Dr. Chandra in the society

The Impact of Music by Dr. Chandra in the society

December 29, 2022
Advantages Of Buying Stocks Over Fixed Deposit

Advantages Of Buying Stocks Over Fixed Deposit

December 27, 2022
The history of Balsamic Vinegar

The history of Balsamic Vinegar

December 20, 2022
How Alfredo Barulli Became an Instagram Influencer with More Than 1 Million Followers

How Alfredo Barulli Became an Instagram Influencer with More Than 1 Million Followers

December 28, 2022
Find Your Unique Style With Bespoke Furniture

Find Your Unique Style With Bespoke Furniture

December 12, 2022
Builford Trailblazer Backpack For Bushcraft Camping

Builford Trailblazer Backpack For Bushcraft Camping

December 11, 2022
Mahogany Bay Village: A Hidden Gem in Belize

Mahogany Bay Village: A Hidden Gem in Belize

December 10, 2022
Iranian Danish Singer-Entrepreneur, Arvin Niknia, Releases Another Soulful Hit, Borracho

Iranian Danish Singer-Entrepreneur, Arvin Niknia, Releases Another Soulful Hit, Borracho

December 7, 2022
Learn About Armon Adibi’s Background, Age, And Family

Learn About Armon Adibi’s Background, Age, And Family

December 6, 2022
Jamila Davis — Empowering black incarcerated women

Jamila Davis — Empowering black incarcerated women

December 3, 2022
Travel Influencer Mary Andaya Talks About Her Latest Visit To Belgium

Travel Influencer Mary Andaya Talks About Her Latest Visit To Belgium

November 29, 2022
Introducing Enzo Zelocchi

Introducing Enzo Zelocchi

November 26, 2022
The Ultimate Guide to Planning Your Oahu Wedding

The Ultimate Guide to Planning Your Oahu Wedding

November 24, 2022
  • Home
  • Team Members
  • About Us
  • Contact Us
  • Privacy Policy
  • Editorial Policy
  • Cookie Policy

© 2020. Tricity Daily.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Education
  • Law and Order
  • Technology

© 2020. Tricity Daily.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In