North York, Ontario – (Newsfile Corp. – May 7, 2022) – A Toronto-based property management company operating in Ontario and Europe, Royal York Property Management, has announced a supplement of up to $ 500 per month for “troubled owners.” Global founder and CEO Nathan Levinson said the offer was aimed at relieving the stress of real estate investors amid a worsening economic environment.
Nathan Levinson, founder and CEO of Royal York Property Management
Mr. Levinson said: “It has been a very difficult time for most homeowners. Homeowners are worried that interest rates will rise significantly in the next 18 months. This will lead to an inevitable fall in the real estate market, with many homeowners not to make the mortgage payment “.
Royal York Property Management offers assistance to homeowners who are unable to reach the end of the month. Royal York estimates put the average rental income for a one-bedroom apartment in Toronto at about $ 2,145 a month. In comparison, the average “cure cost” for a homeowner is estimated to be $ 2,500 a month.
Starting at $ 39 a month, Royal York Property Management will personally fund the deficit up to $ 500 while managing the property. The measure aims to eliminate financial difficulties as well as concerns about whether or not homeowners will get their investment properties.
When asked about the intent of the initiative, Mr. Levinson responded: “I see it as a means of stimulating the investment market. Real estate investors can continue to acquire real estate without worrying about reaching equilibrium. Our rental guarantee scheme is already unmatched. This L “Guaranteed financing offer simply consolidates our market dominance.”
In the long run, Mr. Levinson is an advocate of economic reform. He explained: “The Ontario government should allow landlords to submit an N2 form compared to an N1 form, allowing for an increase in rent for properties built before 1991 as it was before the former Prime Minister of Ontario. Ontario, Kathleen Wynne’s announcement at Queen’s Park on April 20, 2017. If this is not adjusted, landlords will only be able to increase the rent by 1.2% according to the Ontario 2022 Rental Increase Guidelines With what we are seeing, homeowners will not be able to keep pace with rising inflation and rising interest rates, and although the cost of living, gas and mortgage rates have risen, the rental market being the same, this requires a change “.
While the scheme is in its infancy, Mr. Levinson reports that the reviews from thousands of customers have been “totally positive.” He and his team anticipate a large number of requests over the coming weeks.
Contact: Royal York Property Management – Canada
Contact person: Nathan Levinson
Address: 789 Don Mills Rd. Suite 801, North York, ON M3C 1T5, Canada
To view the source version of this press release, visit https://www.newsfilecorp.com/release/123149