In response to rising housing costs, the Canadian government has implemented various measures, including Prime Minister Trudeau's pledge of $15 billion CAD for apartment construction and the introduction of a federal "Renters Bill of Rights." As a result, CIC News has created a guide for readers to compare rental prices in Canada's major cities.

This article will compare rental costs in Canada's largest metropolitan areas as of April 2024. Rental prices will be averaged from various sources including the Canadian Housing and Mortgage Corporation (CHMC), municipal and provincial sources, settlement agencies, online housing platforms like rentals.ca and zumper.ca, and news sources such as CTV and Global News. It will focus on bachelor, one-bedroom, and two-bedroom apartment units, providing averages as an indication of market trends. These averages may vary depending on location within a city and the landlord/rental company. The selection of metropolitan areas will be based on Statistics Canada's data from the 2021 census, ordered from most to least populous.

Toronto, Canada's most populous city, has high rental costs, with average monthly rents for bachelor, one-bedroom, and two-bedroom apartment units at $1,727 CAD, $2,507 CAD, and $3,356 CAD respectively.

Montreal, another major metropolitan area, offers comparatively more affordable rents, with average monthly rents for bachelor, one-bedroom, and two-bedroom apartment units at $1,471 CAD, $1,775 CAD, and $2,281 CAD respectively.

Vancouver, the largest city in British Columbia, has the highest rental costs in Canada. Monthly rents average $2,331 CAD for bachelor units, $2,679 CAD for one-bedroom units, and $3,668 CAD for two-bedroom units.

Ottawa, Canada's capital, sees average monthly rents of $1,620 CAD for bachelor units, $1,990 CAD for one-bedroom units, and $2,465 CAD for two-bedroom units.

Calgary, Alberta's largest city, offers average monthly rents of $1,578 CAD for bachelor units, $1,885 CAD for one-bedroom units, and $2,274 CAD for two-bedroom units.

Edmonton, also in Alberta, has lower rental costs with average monthly rents of $1,046 CAD for bachelor units, $1,349 CAD for one-bedroom units, and $1,635 CAD for two-bedroom units.

Quebec City, the capital of Quebec, has average monthly rents of $1,048 CAD for bachelor units, $1,353 CAD for one-bedroom units, and $1,713 CAD for two-bedroom units.

Winnipeg, Manitoba's capital, offers average monthly rents of $971 CAD for bachelor units, $1,349 CAD for one-bedroom units, and $1,735 CAD for two-bedroom units.

Hamilton, Ontario, has average monthly rents of $1,459 CAD for bachelor units, $1,781 CAD for one-bedroom units, and $2,116 CAD for two-bedroom units.

Kitchener, part of the Waterloo metropolitan area in Ontario, sees average monthly rents of $1,210 CAD for bachelor units, $1,833 CAD for one-bedroom units, and $2,436 CAD for two-bedroom units.

London, a city in south-west Ontario, offers average monthly rents of $1,425 CAD for bachelor units, $1,799 CAD for one-bedroom units, and $2,163 CAD for two-bedroom units.

Halifax, the capital of Nova Scotia, has average monthly rents of $1,684 CAD for bachelor units, $1,971 CAD for one-bedroom units, and $2,585 CAD for two-bedroom units.

Comparing rental costs across Canada | CIC News

When you start a business, you only have a few financing options. You’ve got the angels, friends and family and some bank and credit loans. But not a lot to work with, because there is nothing already there. On the other hand, when you get into a business that already exists, you have tremendously more financing options. We have identified many of them that by taking them, you also have brand recognition, you do not need to build up a brand from scratch because people would know a business that’s been around for a long time. It also has its own customers, sales, which means it already has profits as well.

There is another misconception that people have about acquiring with no money out of pocket or no money down out of pocket.

They already have profitable businesses that a lot of them are run by baby boomers. Most of these businesses are already profitable and if you are like that well, I don’t want to own a Carwash or a Restaurant or mortar businesses, baby boomers own a lot of Tech businesses too. They own software as a service, E-commerce businesses, they own E-learning businesses and Information businesses. So, you get all of that sales profits, the contacts they’ve already got, the systems and the employees they’ve already got.

1️⃣ Is the Seller Authentically Driven? A seller with genuine motivation is inclined to engage in fair negotiations and explore alternative payment arrangements beyond immediate cash transactions.

2️⃣ Is the Business Generating Profit? Verify that the business yields returns sufficient to offset the debt incurred during acquisition. Profitability stands as your financial backbone.

3️⃣ Is Seller Financing an Option? Explore the possibility of seller financing to bypass the intricacies associated with traditional bank processes and government loan procedures. This avenue offers a smoother transition toward realizing your entrepreneurial aspirations.

Strategic inquiries pave the way for prudent investments! 📈

Firstly, you can acquire assets or businesses below their market value. This may prompt the question of why someone would sell their business for less than its perceived worth.

A comparable scenario can be observed in television shows where individuals flip houses. The investors in these houses are often able to acquire them below market value due to various challenges faced by the sellers. These challenges could include issues like the need for renovations, lack of funds or time to carry out renovations, or other factors that make the seller motivated to make a deal.

By acquiring a business valued at five times its profit for only two times its profit, for example, you can create instant wealth. For instance, if a business with a $200,000 profit would typically be valued at $1 million (at five times its profit), but you can purchase it for only $400,000 (at two times its profit), you instantly gain $600,000 in wealth.

Are you considering selling your business? Whether you're ready to move on to new ventures, retire, or pursue other opportunities, listing your business for sale is a significant step that requires careful planning and execution. Just like selling a home, putting your business on the market demands strategy, preparation, and attention to detail to ensure a smooth and successful transaction.

Here are some expert tips to help you navigate the process of listing your business for sale effectively:

1. Evaluate Your Motivation: Before diving into the process of listing your business for sale, take some time to reflect on your motivations. Understanding why you want to sell will not only help you set realistic goals but also guide your decisions throughout the process.

2. Prepare Your Financial Documents: Prospective buyers will want to thoroughly examine your business's financial records to assess its viability and potential for growth. Gather essential documents such as tax returns, profit and loss statements, balance sheets, and cash flow statements. Having these documents organized and readily available will expedite the due diligence process and instill confidence in potential buyers.

3. Understand Your Business's Value: Determining the value of your business is crucial for setting an appropriate asking price. Consider factors such as revenue, profitability, industry trends, market competition, and intangible assets like brand reputation and customer relationships. Consulting with a business valuation expert can provide valuable insights and ensure that you price your business competitively.

4. Enhance Curb Appeal: Just like staging a home for sale, presenting your business in the best possible light can significantly impact its perceived value. Invest in sprucing up your premises, decluttering workspaces, and addressing any maintenance or cosmetic issues. A well-maintained and visually appealing business is more likely to attract serious buyers.

5. Develop a Marketing Strategy: To reach potential buyers effectively, develop a comprehensive marketing strategy that utilizes various channels. In addition to traditional methods such as advertising in industry publications and networking within your professional circles, consider leveraging online platforms and business-for-sale marketplaces. Crafting compelling marketing materials, including a detailed listing description and high-quality photographs, will help generate interest and attract qualified buyers.

6. Maintain Confidentiality: Confidentiality is paramount when selling a business, especially if your employees, customers, or suppliers are unaware of your plans. Implement confidentiality agreements (also known as nondisclosure agreements) to protect sensitive information and ensure that details about the sale are only disclosed to qualified buyers after they've been vetted.

7. Be Transparent and Honest: Building trust with potential buyers is essential for a successful transaction. Be transparent about your business's strengths, weaknesses, opportunities, and threats (SWOT analysis), as well as any potential challenges or risks. Honesty upfront can prevent misunderstandings and foster goodwill throughout the negotiation process.

8. Seek Professional Guidance: Selling a business involves complex legal, financial, and logistical considerations. Consider engaging a team of experienced professionals, including a business broker, accountant, attorney, and possibly a financial advisor, to guide you through the process. Their expertise can help you navigate potential pitfalls, negotiate favorable terms, and ensure a smooth transition.

9. Stay Flexible and Open-Minded: The selling process may not always go according to plan, and unexpected challenges may arise along the way. Stay flexible and open-minded, willing to adapt your strategy as needed to overcome obstacles and seize opportunities. Maintaining a positive attitude and a proactive approach can help you navigate the ups and downs of selling your business with confidence.

10. Plan for the Transition: Finally, plan for a smooth transition of ownership once you've found a qualified buyer. Develop a transition plan that outlines key responsibilities, timelines, and expectations for both parties. Providing adequate training and support to the new owner can help ensure a seamless handover and set the stage for the continued success of the business.

In conclusion, listing your business for sale is a significant undertaking that requires careful planning, preparation, and execution. By following these expert tips, you can increase your chances of attracting qualified buyers, negotiating favorable terms, and achieving a successful sale. Remember to stay patient, diligent, and proactive throughout the process, and don't hesitate to seek professional guidance when needed. With the right approach and support, you can successfully transition to the next chapter of your entrepreneurial journey.

I have sold a coffee shop at 2213 W Broadway, Kitsilano, Vancouver recently. 

Nestled in the heart of Kitsilano, Vancouver, there was a beloved coffee shop named “Cafe Livni” that served as more than just a place to grab a cup of joe. It was a community hub, a cozy corner where locals gathered to share stories, sip on artisanal brews, and find solace in the comforting aroma of freshly roasted coffee beans. However, like many things in life, change is inevitable, and recently, this cherished spot has bid its final farewell as it passed on to new ownership. As we reflect on its legacy, let's take a journey through the memories and moments that made this coffee shop a cherished part of Kitsilano's landscape.