Marnie's Market Update: Checking out properties in Kanata
We are giving you a look at three properties on the market in Kanata in our Bennett Real Estate Rundown.
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CTV News
15 minutes ago
- CTV News
B.C. landlord must pay evicted tenants $65K, court rules
A B.C. landlord who sold a rental property failed to convince a judge the buyers – who never moved into the home – should be on the hook for compensating wrongfully evicted tenants, according to a recent decision. Justice Anita Chan ruled on the dispute Friday, upholding a decision of B.C.'s Residential Tenancy Branch awarding $65,000 in compensation to the former renters. In 2022, Mohan Sull, the landlord, was renting the North Vancouver home to Thomas and Rozette Trevitt for $5,650 a month, the court heard. Sull entered into an agreement to sell the property and served the tenants with a two-month notice of eviction because 'the buyers intended to occupy the property,' according to the decision. But the buyers never moved in. 'The buyers undertook extensive renovations. The city in March 2023 issued a stop-work order. The buyers did not obtain the proper permits until May 2024. I understand the property is still fully gutted with no one residing there currently,' the judge wrote. The ousted renters successfully challenged their eviction on the grounds that the 'stated purpose of the notice to end tenancy was not accomplished,' the decision said. Buyers were not 'purchasers;' sale was conditional Sull was seeking a judicial review of the arbitrator's decision on a number of grounds, including that it was the buyers – not him – who should have to pay. 'The buyers had possession of the property and did not occupy it. The landlord argues he has no control over the property and he ought not to be held liable,' Chan wrote, summarizing the crux of Sull's submission on that point. The judge's decision explained that the arbitrator had already considered and dismissed this argument, finding that the buyers did not 'meet the definition of purchasers' in the Residential Tenancy Act. The legislation defines a purchaser as someone who has agreed to purchase 'at least half of the full reversionary interest in the property' and the arbitrator found that criteria was not met in this case, according to the judgment. That was because the deal was a five-year 'option to purchase' agreement. The buyers put down $100,000 and agreed to pay a monthly interest fee of $5,800 for the next five years or until they decided to complete the purchase of the property. 'If there was an agreement to terminate the contract, the down payment and any additional payments were to be returned to the buyers,' the decision explained. Even if the buyers were 'purchasers,' the arbitrator found the landlord was not legally entitled to evict the tenants. A landlord who has sold a property can end a tenancy but only if 'all the conditions on which the sale depends have been satisfied,' the decision explained. Because of the nature of the agreement, the sale of the property was 'at its core' a conditional sale unless and until the option to purchase was exercised. 'The arbitrator emphasized that the wrongful act was not that the buyers had not occupied the property, but rather that the tenants ought not to have had their tenancy terminated in the first place,' the decision said. The judge agreed on this point. 'The landlord was not entitled to provide the two-month notice to end tenancy, as there was no unconditional sale of the property,' Chan wrote. Unenforceable clause Sull also argued to the arbitrator and again to the judge that the eviction was legal and justified because of a clause written into the lease that read 'tenant and owner both agree to give two full calendar months written notice, when they plan to end the lease.' The problem with that argument, the judge noted, was that it was an 'impermissible opting out of the mandatory provisions of the (Residential Tenancy Act) because 'a landlord cannot end a tenancy by providing two months' written notice for any reason.' The legislation lays out specific circumstances in which a landlord can end a tenancy and leases which 'attempt to avoid or contract out' of those legal obligations are 'of no effect,' according to the decision. 'The arbitrator found that (the) clause was an attempt by the parties to increase the circumstances by which the landlord can end the tenancy,' the decision said. The judge agreed with this assessment and found the arbitrator's decision, as a whole, was reasonable in the circumstances. Wrongfully evicted tenants in circumstances like these are generally entitled to compensation equivalent to 12 months of rent. In this case, that worked out to $67,800 but the judge noted an award of $65,000 as the maximum allowable for a dispute settled by the Residential Tenancy Branch.
Globe and Mail
15 minutes ago
- Globe and Mail
Seven stocks with growing dividends that will benefit from rate cuts
What are we looking for? Canadian dividend-growing stocks that will benefit from future Bank of Canada interest rate cuts. The screen After holding its policy rate steady at 2.75 per cent in June, the Bank of Canada may be compelled to cut rates later this year. With inflation cooling and economic growth under threat from U.S. tariffs, some major banks such as Toronto-Dominion Bank (TD-T) are forecasting two rate cuts by year end. Falling rates tend to boost demand for income-generating assets, making this an opportune moment to revisit dividend stocks. Lower bond yields push investors toward equities that pay steady and growing dividends. Using FactSet's screening tool, I identified Canadian dividend growers with a proven track record by applying the following criteria: The seven companies that passed were ranked by their dividend yield. What we found CT Real Estate Investment Trust (CRT-UN-T), a Canadian REIT with a portfolio of essential properties that includes Canadian Tire, ranked first on our screen with a 6-per-cent dividend yield and a conservative payout ratio of 49.6 per cent. Its properties maintain a strong occupancy rate above 99 per cent, adding a layer of predictability to its robust cash flows. Recent financing moves, including a $200‑million debenture offering, help support further development initiatives. With long-term leases, minimal tenant turnover risk and rates poised to drop, CT REIT is well positioned as a dependable income name in a lower-rate environment. Investors should stay tuned for further updates on CT REIT's earnings call on Aug. 6. Cogeco Communications Inc. (CCA-T), a telecom and broadband provider that operates across Canada and the United States, offers a 5.6-per-cent dividend yield and low payout ratio of 43.4 per cent. Despite reporting a recent 2.7-per-cent decline in quarterly revenues year-over-year, the company delivered a 63-per-cent surge in free cash flow driven by lower capital expenditures and restructuring costs. That said, Cogeco's core business is cable, which is in a long-term decline. It's a steady, income-focused name that may appeal more to conservative investors in a falling-rate environment. The information in this article is not investment advice. The author assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained above. Arjun Deiva, CFA, is an MBA Candidate at the University of California, Berkeley, Haas School of Business.
Globe and Mail
15 minutes ago
- Globe and Mail
Oncolytics Biotech® Regains Compliance with Nasdaq Trading Rules
SAN DIEGO and CALGARY, AB, July 22, 2025 /CNW/ -- Oncolytics Biotech ® Inc. (Nasdaq: ONCY) (TSX: ONC) ("Oncolytics" or the "Company"), a leading clinical-stage company specializing in immunotherapy for oncology, received a formal letter (the "Compliance Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") dated July 22, 2025 informing the Company that it has regained compliance with the minimum bid price requirement under Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). The Company is now in compliance with all Nasdaq listing standards, and its common shares will continue to trade on the Nasdaq Capital Market under the ticker "ONCY."
