Appraisal Institute of Canada

Find an
appraiser

Advocacy and Public Policy

The Appraisal Institute of Canada (AIC) is Canada’s leading real property valuation association with over 5,500 Members across the country and around the world. AIC’s Advocacy Committee works to support and promote our Members on a national and provincial level, and advocates for them on issues that impact the valuation profession and the real estate industry.

To learn more about our advocacy efforts, please contact André Hannoush, Director, Public Affairs at or 613.234.6533 x236.

Our recent advocacy activities:

October 2020
FSRA Proposed 2021-2022 Statement of Priorities
Read More
August 2020
AIC 2021 Pre-Budget Submission
Read More
July 2020
Alberta Passes Legislation Impacting Appraisers
Read More
June 2020
AIC-BC made submissions for the Public Beneficial Ownership Registry, the Mortgage Brokers Act, and the future of housing
Read More
May 2020
AIC-Quebec Calls for Property Tax Appeal Extension
Read More
May 2020
AIC Makes Submission to Finance Committee
Read More

Ongoing advocacy efforts and public policy positions:


Syndicated Mortgage Regulations

Friday March 15, 2019 Canadian Securities Administrators Update on Syndicated Mortgages Regulations

In March 2018, the Canadian Securities Administrators (CSA – umbrella organization of the country’s provincial securities regulators) published for comment proposed changes to harmonize the regulatory framework for syndicated mortgages in Canada.

On March 15, 2019, the CSA announced that they are implementing most of the new rules that were initially proposed, which includes “introducing a condition that issuers of syndicated mortgages must deliver property appraisals prepared by an independent, qualified appraiser”.

They also announced that revisions were being proposed and are now seeking a second round of feedback. One of the revisions being the following:

“Given the rapid change of the real estate market in some jurisdictions, the proposed revisions include a requirement that a property appraisal take place within six months before an appraisal is delivered to a purchaser.”

This was one of the recommendations the AIC made in its submission to the CSA in June 2018.

To read the CSA’s latest proposals, please click here.

As AIC prepares its submission to the CSA on its latest proposals, we welcome comments and feedback from Members to /" target="_blank" rel="noopener"> by May 1, 2019.

Friday March 15, 2019 Canadian Securities Administrators Update on Syndicated Mortgages Regulations

In March 2018, the Canadian Securities Administrators (CSA – umbrella organization of the country’s provincial securities regulators) published for comment proposed changes to harmonize the regulatory framework for syndicated mortgages in Canada.

On March 15, 2019, the CSA announced that they are implementing most of the new rules that were initially proposed, which includes “introducing a condition that issuers of syndicated mortgages must deliver property appraisals prepared by an independent, qualified appraiser”.

They also announced that revisions were being proposed and are now seeking a second round of feedback. One of the revisions being the following:

“Given the rapid change of the real estate market in some jurisdictions, the proposed revisions include a requirement that a property appraisal take place within six months before an appraisal is delivered to a purchaser.”

This was one of the recommendations the AIC made in its submission to the CSA in June 2018.

To read the CSA’s latest proposals, please click here.

As AIC prepares its submission to the CSA on its latest proposals, we welcome comments and feedback from Members to /" target="_blank" rel="noopener"> by May 1, 2019.

Sunday July 01, 2018 New Syndicated Mortgages Regulations in Ontario came into effect on July 1, 2018

On July 1, 2018, new syndicated mortgages regulations came into force in Ontario that stipulate that an appraisal for a syndicated mortgage (other than a qualified syndicated mortgage) must be prepared by a member of the Appraisal Institute of Canada who is independent and who holds the designation of Accredited Appraiser Canadian Institute. Mortgage brokers must follow this stipulation and use Financial Services Commission of Ontario specific forms that can be viewed here.

As a reminder, these new and expanded requirements for syndicated mortgages forms only a portion of the entire regulation which can be accessed here.

The regulation makes a distinction between two types of syndicated mortgages:

1)      “qualified syndicated mortgage” which includes property that is used primarily for residential purposes, includes no more than a total of four units, and if used for both commercial and residential purposes, includes no more than one unit that is used for commercial purposes, and not for incurring debt on construction or development of property.

2)      “syndicated mortgage” which is essentially a “non-qualified” syndicated mortgage and is everything other than what is defined under a “qualified syndicated mortgage”. These are specifically for non-residential properties – often larger, mix used types of properties and generally are used in the “pre-construction” phase.

For qualified syndicated mortgages (i.e. those for residential properties), the regulation does not specify any particular appraisal designation so both CRA and AACI members can complete those assignments.

For syndicated mortgages other than qualified syndicated mortgages (i.e. those for non-residential or development properties), the regulation states that an AACI must do these assignments.

For more information on the new regulations, please click here. For questions or comments, please contact us at .

Wednesday June 06, 2018 AIC submits comments on syndicated mortgages to the Canadian Securities Administrators

In a previous communique, we informed Members that on March 8, 2018, the Canadian Securities Administrators (CSA – umbrella organization of the country’s provincial securities regulators) published for comment proposed changes to harmonize the regulatory framework for syndicated mortgages in Canada.

Under this proposal, issuers of syndicated mortgages would be required to deliver property appraisals prepared by an independent, qualified appraiser. A copy of the entire proposal can be found here.

As AIC prepared its submission to the CSA, we sought comments from Members. On June 5, 2018, the AIC sent its submission to the CSA and it can be viewed here.

Friday March 30, 2018 AIC advocacy efforts help shape government regulations

Over the past year, the AIC Advocacy team has been collaborating with the Ontario Ministry of Finance and the Financial Services Commission of Ontario regarding regulations that govern syndicated mortgages investments. In early March 2018, the Government of Ontario published new regulations that govern syndicated mortgages investments within its jurisdiction. Under Ontario Regulation 188/08 Mortgage Brokerages Standards of Practice of the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA), mortgage brokers will have to comply with new and expanded rules as of July 1, 2018.

The AIC’s message of our Designated Members being unbiased, trained and qualified professional appraisers resulted in the new regulations stipulating that an appraisal for a syndicated mortgage other than a qualified syndicated mortgage must be prepared by a member of the Appraisal Institute of Canada who is independent and who holds the designation of Accredited Appraiser Canadian Institute. It must also be prepared in accordance with the Canadian Uniform Standards of Professional Appraisal Practice.

The regulation makes a distinction between two types of syndicated mortgages:

1)         “qualified syndicated mortgage” which includes property that is used primarily for residential purposes, includes no more than a total of four units, and if used for both commercial and residential purposes, includes no more than one unit that is used for commercial purposes, and not for incurring debt on construction or development of property.

2)         “syndicated mortgage” which is essentially a “non-qualified” syndicated mortgage and is everything other than what is defined under a “qualified syndicated mortgage”. These are specifically for non-residential properties – often larger, mix used types of properties and generally are used in the “pre-construction” phase.

For qualified syndicated mortgages (i.e. those for residential properties), the regulation does not specify any particular appraisal designation.

For syndicated mortgages other than qualified syndicated mortgages (i.e. those for non-residential or development properties), as mentioned above, the regulation states that an AACI must do these assignments.

We believe this is a step in the right direction to ensure consumers obtain sufficient information when making investment decisions.

More information here.

Mortgage Lending Guidelines

Friday November 01, 2019 CMHC Releases New Information on Residential Mortgage Industry

The Canada Mortgage and Housing Corporation (CMHC) recently released new information on the residential mortgage industry including the market share of different lender types and key highlights.

To view this CMHC dashboard, .

Friday March 23, 2018 Quebec financial institutions regulator updates mortgage underwriting standards

Over the past few years, the AIC Advocacy team has been calling on the federal government to encourage its provincial counterparts to apply the Office of the Superintendent of Financial Institutions Residential Mortgage Underwriting Practices and Procedures (B-20 Guidelines) and Residential Mortgage Insurance Underwriting Practices and Procedures (B-21 Guidelines) to non-federally regulated financial institutions to ensure consistent lending practices across the country and a more stable marketplace. This includes established appraisal requirements.

During the last year, AIC Provincial Association Advocacy teams have also been encouraging their respective provincial governments to do so. In early February 2018, AIC-Quebec sent a pre-budget submission to the Quebec Finance Minister which included the recommendation to apply the above mentioned guidelines to all provincially regulated financial institutions. On March 15, 2018, the Quebec Financial Institutions Regulator, the Autorité des Marchés Financiers, updated its mortgage lending guideline to reflect the OSFI B-20 guidelines.

AIC Advocacy efforts have contributed to governments applying these guidelines or at the very least giving consideration to applying these guidelines. We will continue to advocate to the federal and provincial governments. For any feedback or questions on this, please don’t hesitate to contact us at 

Monday October 30, 2017 New final B-20 Guidelines released

The Office of the Superintendent of Financial Institutions (OSFI) released draft B-20 Guidelines (Residential Mortgage Underwriting Practices and Procedures) over the summer and sought feedback from individuals and organizations where we took the opportunity to make a submission. On October 17, 2017, OSFI released the final guidelines which amongst other things, does the following:

  • In the draft guidelines, OSFI proposed a stress test for uninsured mortgages (down payment of more than 20%) where consumers would need to qualify based on the rate on their contract plus two percentage points. The final guidelines now require the minimum qualifying rate for uninsured mortgages to be the greater of the five-year benchmark rate published by the Bank of Canada or the contractual mortgage rate plus two percentage points.
  • The draft guideline proposing that LTV ratio limits are reflective of risk and are updated as housing markets and the economic environment evolve remained intact.
  • The draft guideline proposing placing restrictions on certain lending arrangements that are designed, or appear designed to circumvent LTV limits also remained intact.

The final guidelines also included a new process where they encourage Federally Regulated Financial Institutions to maintain and implement a framework for reviewing and challenging assumptions and methodologies underlying valuations and appraisals. We will continue to advocate with OSFI that appraisers need to be included in this process. For more information on the new guidelines, please click here.

Wednesday November 21, 2018 AIC Attends Inaugural CMHC’s National Housing Conference

The AIC attended the Canadian Mortgage and Housing Corporation’s (CMHC) Inaugural National Housing Conference to hear from government departments and agencies such as Statistics Canada and the CMHC as well as lenders, academia, brokers, municipalities on various housing related issues such as data access, mortgage financing and affordable housing.

 

Saturday August 05, 2017 Comments to OSFI on draft B-20 Guidelines

The Office of the Superintendent of Financial Institutions released draft changes to Guideline B-20 (Residential Mortgage Underwriting Practices and Procedures) for public consultation. Interested stakeholders and the wider public were asked to submit comments. AIC submitted its paper on August 17, 2017 and a copy can be found HERE.

Federal and Provincial Budgets

Tuesday August 11, 2020 AIC 2021 Pre-Budget Submission to House of Commons Finance Committee

AIC 2021 Pre-Budget Submission to House of Commons Finance Committee

In June 2020, the House of Commons Standing Committee on Finance invited individuals and organizations to submit their comments for the 2021 Pre-Budget consultation process. The AIC submitted its paper on August 7, 2020, and a copy can be found here.

If you have any questions for the AIC Advocacy team, please email us at 

Friday May 01, 2020 AIC Makes Submission to Finance Committee

Over the last several weeks, the House of Commons Finance Committee has been hearing testimony from organizations, associations and individuals from across the country in terms of how the federal government has responded to the COVID-19 Public Health Crisis.

As the AIC often does, we took this opportunity to make a submission to the Committee to inform them of what AIC members have done to adapt to the current realties all while continuing to meet the needs of Canadians. It also speaks to how important valuation fundamentals are, especially with such market uncertainty and volatility.

The submission can be viewed here.

Questions or comments? Please send them to  

Friday August 23, 2019 Update: Canada Mortgage and Housing Corporation’s First Time Home Buyer Incentive Program Appraisal Requirements

On August 16, 2019, the Canada Mortgage and Housing Corporation (CMHC) launched the Operational Policy Manual for the First Time Home Buyer Incentive Program (announced in the 2019 Federal Budget).

As you may recall, the AIC has been advocating to both Finance Canada and CMHC that appraisals should be made mandatory as part of the new program.

AIC is pleased to see that the operational policy manual states that appraisals will be required in the following instances:

  • In the event of a repayment triggered by the sale of the property, the Incentive amount must be based on the market value of the property at the time of sale, which generally would be supported by the purchase price as stated in the purchase and sale agreement. In the case where the sale is non-arm’s length to the borrower, an independent third-party appraisal performed by an appropriately qualified real estate appraiser must be obtained.
  • In the case of an early voluntary repayment, the Incentive amount must be determined using the fair market value of the property. An independent third-party appraisal performed by an appropriately qualified real estate appraiser must be obtained at time of repayment.
  • Where the repayment is triggered by the expiry 25 years, the Incentive amount must be determined using the fair market value of the property. An independent third-party appraisal performed by an appropriately qualified real estate appraiser must be obtained at time of repayment.

For more information, please refer to the entirety of the policy manual here: Operational Policy Manual

If you have any questions for the AIC Advocacy team, please email us at 

Friday August 02, 2019 AIC 2019 Pre-Budget Submission to House of Commons Finance Committee

AIC 2020 Pre-Budget Submission to House of Commons Finance Committee

In June 2019, the House of Commons Standing Committee on Finance invited individuals and organizations to submit their comments for the 2020 Pre-Budget consultation process. The AIC submitted its paper on August 2, 2019, and a copy can be found here.

If you have any questions for the AIC Advocacy team, please email us at 

Tuesday March 19, 2019 2019 FEDERAL BUDGET

On March 19, 2019, the Government of Canada released its 2019 Budget – the last one before the next federal general election slated for October 21 – and the Appraisal Institute of Canada attended its third straight federal government budget lock up on the invitation of Finance Canada.

This allowed AIC to review the budget documents before it was tabled and made public by the Federal Finance Minister in the House of Commons.

The budget included several initiatives focused on first time home buyers and addressing the lack of housing supply for both ownership and rental purposes.

While we will continue to look into the details of each initiative, here are the highlights:

  • First Time Homebuyers Incentive: The Incentive would allow eligible first-time home buyers who have the minimum down payment for an insured mortgage (5%) to apply to finance a portion of their home purchase through a shared equity mortgage with Canada Mortgage and Housing Corporation (CMHC).
    o CMHC would offer qualified first-time home buyers a 10 per cent shared equity mortgage for a newly constructed home or a 5 per cent shared equity mortgage for an existing home.
    o The Incentive would be available to first-time home buyers with household incomes under $120,000 per year. At the same time, participants’ insured mortgage and the Incentive amount cannot be greater than four times the participants’ annual household incomes.
  • Home Buyers Plan Withdrawal Increase: Proposal to increase the Home Buyers’ Plan withdrawal limit from $25,000 to $35,000 of their RRSP. Budget 2019 also proposes that individuals that experience the breakdown of a marriage or common-law partnership be permitted to participate in the Home Buyers’ Plan, even if they do not meet the first-time home buyer requirement. This measure would be available for withdrawals made after 2019.
  • Increasing Housing Supply:
    o Help build 42,500 new housing units across Canada, with a particular focus in areas of low rental supply, through an expanded Rental Construction Financing Initiative. Budget 2019 makes available an additional $10 billion in financing over nine years, extending the program until 2027–28.
    o Invite communities and other groups to propose initiatives that break down barriers limiting new housing. This new Housing Supply Challenge will run through the Impact Canada Initiative, with funding of $300 million.
    o Creation of Expert Panel on the Future of Housing Supply and Affordability, jointly established by the Government and the Province of British Columbia. CMHC will invest $4 million over two years to support the Panel’s work, and $5 million over two years for state-of-the-art housing supply modelling and related data collection.
  • Tackling Tax Non-Compliance and Money Laundering in the Housing Market:
      o Creating four new dedicated real estate audit teams at the Canada Revenue Agency to monitor transactions in the real estate sector.
    o Strengthening the enforcement framework by improving monitoring of private sector partners and collaborating with government leads in order to deter financial crime in real estate, including mortgage fraud and money laundering.
    o Exploring opportunities to improve data sharing on real estate purchases between the federal government and British Columbia to inform enforcement efforts on tax compliance and anti-money laundering. As part of this initiative, the Government will provide up to $1 million to Statistics Canada starting in 2019–20 to conduct a comprehensive federal data needs assessment to further streamline data sharing and monitoring of purchases of Canadian real estate.

Additional details on each of these measures can be found in the 2019 Federal Budget by clicking here.

We will continue to follow each of the housing related measures and will communicate any additional relevant information to our Members.

As always, please don’t hesitate to contact us if you have any questions or comments at /" target="_blank" rel="noopener">

Tuesday January 29, 2019 AIC Makes Federal Budget Submission to Finance Minister

Federal Finance Minister Bill Morneau launched Pre-Budget Consultations in November 2018. We asked Members to provide their comments to us via the January 2019 communique as we prepared our submission. On January 29, 2019, we sent in our submission that addressed mortgage lending guidelines and home cultivation of cannabis. Click here to view the submission.

For any questions or comments, please don’t hesitate to contact us at /" target="_blank" rel="noopener"> 

Monday September 24, 2018 The Appraisal Institute of Canada’s BC Association appears before the BC Legislature’s Select Standing Committee on Finance and Government Services

On Monday September 24th, 2018 the Appraisal Institute of Canada – BC Association appeared before the BC Legislature’s Select Standing Committee on Finance and Government Services.   Remarks and testimony were provided by AIC-BC 1st Vice-President, Terry Dowle.  Committee questions focused on secondary lending and data access.  Click here to read the testimony.  Parliamentary committee appearances are an important means for AIC to advance appraisal industry interests with government.

Friday August 03, 2018 AIC 2019 Pre-Budget Submission to House of Commons Finance Committee

In early June 2018, the House of Commons Standing Committee on Finance invited individuals and organizations to submit their comments for the 2019 Pre-Budget consultation process. After received feedback and comments from Members, the AIC submitted its paper on August 3, 2018, and a copy can be found HERE.

Monday June 04, 2018 Federal Finance Committee Launches 2019 Pre-Budget Consultation – Have Your Say!

On June 4, 2018, the House of Commons Finance Committee launched its 2019 pre-budget consultation process and is inviting individuals and organizations to submit their recommendations. The process will result in a report to be tabled in the House of Commons in December 2018, and this report will be considered by the Minister of Finance as the 2019 federal budget is developed. The deadline for submissions to the Committee is no later than Friday, 3 August 2018. The release can be found here.

As the AIC Advocacy Team prepares a submission, we would like to hear from Members as to what they believe should be sent to the Finance Committee. Here are a few topics to help guide the conversation:

  • How have the changes to the Office of Superintendent of Financial Institutions B-20 underwriting guidelines affected the behaviour of borrowers/lenders/brokers? Have you noticed a particular trend?
  • How, if at all, do you see yourself being impacted by the federal government’s national housing strategy?
  • What are your concerns regarding cannabis legalization as it relates to property appraisals?

Please send us your comments and suggestions to by July 23, 2018.

Thursday March 22, 2018 2018 Provincial Budgets

In March 2018, most provinces tabled their 2018-2019 budget commitments. On the invitation of their respective provincial governments, AIC representatives were invited to attend a session reviewing the budget before it was made public in Alberta, Saskatchewan and Ontario.

This was an opportunity for Provincial Associations to know what aspects of the budget could affect its Members before it was made public. It also provided some networking opportunities and visibility.

Tuesday February 27, 2018 2018 Federal Budget

On February 27, 2018, the Government of Canada released its 2018 Budget and the Appraisal Institute of Canada attended its second straight federal government budget lock up on the invitation of Finance Canada.

This allowed the AIC to review the budget documents before it was tabled and made public by the Federal Finance Minister in the House of Commons. The following commitments and statements relating to our industry were made:

  • Investment in Affordable Housing: To encourage a stable supply of affordable rental housing across the country, the Government proposes to increase the amount of loans provided by the Rental Construction Financing Initiative from $2.5 billion to $3.75 billion over the next three years. In total, this measure alone is expected to spur the construction of more than 14,000 new rental units across Canada.
  • Holding the Course on Mortgage Regulations: Housing market pressures are easing following the rapid growth in prices and sales in recent years; housing market conditions have become more balanced in Toronto and Vancouver, and their surrounding regions. Going forward, housing demand across the country should continue to be supported by solid job and income gains, but tempered by rising interest rates and recent changes to mortgage underwriting Guideline B-20 for federally regulated lenders (including a mortgage rate stress test for uninsured mortgages)
  • Economic Outlook 2018 Indicates that Household Debt is a Vulnerability: High household debt remains a key domestic vulnerability for Canadian consumption and housing activity in the case of a large shock to income, house prices or interest rates.
  • Changes to Passive Income Rules for Small Business Owners: If a corporation earns more than $50,000 of passive investment income in a given year, the amount of income eligible for the small business tax rate would be gradually reduced (from 10.5% to 9%). It is proposed that the small business deduction limit be reduced by $5 for every $1 of investment income above the $50,000 threshold (equivalent to $1 million in passive investment assets at a 5-per-cent return), such that the business limit would be reduced to zero at $150,000 of investment income (equivalent to $3 million in passive investment assets at a 5-per-cent return).
  • Better Access to Government Procurement: The Government will establish a new electronic procurement platform. This will help Canadian small and medium-sized businesses better access opportunities to work with the Government. Budget 2018 proposes to provide $196.8 million over five years, beginning in 2018–19, to Public Services and Procurement Canada to establish this platform.

Additional details on each of these measures can be found in the 2018 Federal Budget by clicking here. As always, please don’t hesitate to contact us if you have any questions or comments at .

Friday January 26, 2018 Federal Pre-Budget Submission

Federal Finance Minister Morneau launched Pre-Budget Consultations in November 2017. We asked Members to provide their comments to us via the December 1 communique as we prepared our submission. On January 26, 2018, we sent in our submission that addressed OSFI B-20, B-21 Guidelines, Affordable Housing, Financial Literacy, Mandating Valuation Fundamentals for Investment Portfolios that Include Real Estate and Data Access.

Saturday December 30, 2017 Finance Canada releases Pre-Budget Report

In August 2017, the AIC made a submission to the House of Commons Finance Committee in the context of their 2018 Pre-Budget Consultation. In September 2017, AIC’s President-Elect and Chief Executive Officer appeared before the Committee to present the submission and answer questions. In early December 2017, the Committee tabled its report in Parliament and follows over 400 written briefs being submitted. The AIC’s recommendations were reiterated in the report as part of what measures would help Canadians be more productive and can be read here. These steps ensure federal regulators are aware of our position on certain public policy matters, ensures we are on the radar in terms of real estate issues and continues to build relationships with federal officials.

Wednesday September 20, 2017 Testimony before House of Commons Finance Committee

On August 4, 2017, the AIC made a submission to the House of Commons Finance Committee in the context of the 2018 pre-budget consultation process. We are pleased to announce that the AIC was invited to appear before the Committee to present and discuss our recommendations. Peter McLean, AIC president-elect, and Keith Lancastle, AIC CEO, appeared before the committee on September 20, 2017. Click here to watch the video.

Friday August 04, 2017 Submission to House of Commons Finance Committee

The House of Commons Standing Committee on Finance invited individuals and organizations to submit their comments for the 2018 Pre-Budget consultation process. AIC submitted its paper on August 4, 2017, and a copy can be found HERE.

Thursday April 13, 2017 Report from the Finance Committee on the Canadian residential real estate market

We are proud to announce that the Appraisal Institute of Canada (AIC) played a role in the development of public policy through the House of Commons Standing Committee on Finance’s (FINA) study on the Canadian residential real estate market.

As previously mentioned, FINA adopted a motion to undertake a comprehensive study of issues surrounding the Canadian residential real estate market with a focus on the impact of the housing market on the Canadian Financial System and challenges surrounding access to residential home ownership. April 13, 2017, the Committee tabled their report in the House of Commons, making it available to the public.

We’re pleased to let you know that the AIC is quoted multiple times in the report. One statement is as follows:

“In order to ensure that no mortgage lender poses undue risk to Canada’s financial system, the Appraisal Institute of Canada advocated the application of Guidelines B-20 and B-21 regarding mortgage and mortgage insurance underwriting practices to all institutions that provide mortgage financing. Furthermore, regarding mortgage fraud, it proposed both that all organizations involved in lending should work together to detect potential fraud, and that on-site appraisals by qualified professionals should occur more often.”

News Release: House Finance Committee Releases its Report on Canada’s Housing Markets

Report: Canada’s Housing Markets: Benefits, Barriers and Bringing Balance

AIC will leverage this position and continue to advocate for our members and help shape public policy in the housing market.

Wednesday February 08, 2017 Testimony before House of Commons Finance Committee

The House of Commons Finance Committee adopted a motion to undertake a comprehensive study of issues surrounding the Canadian residential real estate market with a focus on the impact of the housing market on the Canadian Financial System and challenges surrounding access to residential home ownership.

On February 8, 2017, AIC testified before this committee. To watch it, please click here.

Promoting Members

Friday November 01, 2019 Federal Election Highlights

By: Impact Public Affairs

Background

Canadians went to the polls on October 21, 2019 and gave a minority mandate to Justin Trudeau and the Liberal Party with 157 seats in the House of Commons. The Conservatives came out with 121 seats, a 21-seat gain from the 2015 election. That result is driven primarily by where the votes were concentrated, with the Conservatives winning by huge margins across the Prairies and the Liberals spreading their support across different regions, with a strong showing in and around Toronto.

The breakdown of seats looks to give the Liberals enough strength that they will not have to establish any formal coalition to govern. It appears that with the expensive toll of the campaign, and limited fundraising, the NDP will have very little incentive to fight another campaign in the near future.

Over the past 40 days campaigns jockeyed for position in 338 ridings from coast-to-coast-to-coast. Parties on the left and the right offered voters starkly different versions of what the future of our country can and should be. Billions of dollars were committed for national programs, millions of Canadians voted, thousands of candidates put their names on the ballot, hundreds of policies were proposed, and dozens of scandals changed the course of the campaign.

The momentum that the Bloc Quebecois had had over the past several weeks resulted in them having the greatest gain this election, with 32 seats. The NDP, despite last minute momentum driven by Jagmeet Singh, fell back to being the fourth largest party in the legislature, with 24 seats.

The main policy areas discussed during the election included climate change, affordability, pharmacare and the economy. In the weeks ahead, Members of Parliament will be sworn in, as well as a new Cabinet chosen by the Prime Minister.

Platform Promises

Below are promises from the four major political parties as it relates to appraisal profession. All of the promises should be considered despite the results of the election.

Liberal Party of Canada

  • Expand the First-time Home Buyer Incentive for people in Victoria, Vancouver and Toronto. The value of a qualifying home will go from $500,000 to nearly $800,000
  • Add a one per cent annual tax on residential properties owned by those who are not Canadians and who do not live in Canada
  • Help people buy newly built homes that are certified zero-emissions by giving them a Net Zero Homes Grant of up to $5,000
  • Create a low-cost national flood insurance program
  • Complete all flood maps in Canada and develop an action plan to assist home owner relocation for those at highest risk or repeat flooding

Conservative Party of Canada

  • Increase amortization periods on insured mortgages to 30 years for first-time homebuyers
  • Launch inquiry into money laundering in real estate
  • Remove stress test for mortgage renewals

New Democratic Party of Canada

  • Double the Home Buyer’s tax credit to $1,500 for first time buyers
  • Increase amortization periods on insured mortgages to 30 years for first-time homebuyers
  • Add $5 billion to spending on affordable housing in first 18 months in office
  • Create 500,000 units of quality, affordable housing in the next 10 years

Green Party of Canada

  • Cancel the first-time home buyer grant
  • Legislate that housing is a legally protected fundamental human right for all Canadians and permanent residents
  • Increase the National Housing Co-investment Fund by $750 million for new builds, and the Canada Housing Benefit by $750 million for rent assistance for 125,000 households
Thursday October 31, 2019 AIC Named to Financial Services Regulatory Authority of Ontario Stakeholder Advisory Committee

Over the last few years, AIC and AIC-Ontario have been working with the Financial Services Commission of Ontario, the Ontario Securities Commission as well as the Ontario Ministry of Finance on regulations around syndicated mortgage investments.

In June 2019, the Financial Services Regulatory Authority of Ontario (FSRAO) assumed the regulatory duties of the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario.

As part of their new structure, FSRAO will have Stakeholder Advisory Committees that are to serve as consultative bodies to the FSRA Board of Directors on FSRA’s priorities, budget and other matters as the Board deems appropriate.

Recently, AIC was informed that our application to be on a committee has been accepted and are formally on a FSRA Stakeholder Advisory Committee.

For any comments or questions, please contact the Advocacy Team at  

Sunday September 30, 2018 AIC Attends Canadian Real Estate Association Political Action Committee Days

The Canadian Real Estate Association (CREA) had their annual Political Action Committee (PAC) days in early October 2018 in Ottawa. As in previous years, the AIC attended this event as it is a great opportunity to network with CREA and its Members and to discuss top of mind issues facing the real estate industry. This event also includes speakers from different players within the Parliament Hill scene including Members of Parliament, political journalists and political pundits. It is a great opportunity to hear firsthand about issues at the federal government level and advocate on behalf of the membership.

AIC Meetings with Federal Government

Friday July 03, 2020 Federal Government COVID-19 Programs Webinar

As part of AIC’s webinar series, the Parliamentary Secretary to the Minister of National Revenue, Francesco Sorbara, had a conversation with AIC President Jan Wicherek and AIC CEO Keith Lancastle about the different federal government programs available to manage the impact of the COVID-19 pandemic.
 
Thank you to the many members who registered and watched the webinar. In the event you were unable to watch, the webinar can we be viewed here.
 
For any comments or questions, please don’t hesitate to contact the advocacy team at 

Wednesday July 01, 2020 A Thank You Message from the Minister Responsible for the Canada Mortgage and Housing Corporation

As part of this years AIC Annual General Meeting (virtual), the advocacy team invited Federal Minister of Families, Children and Social Development and Minister responsible for the Canada Mortgage and Housing Corporation, the Honourable Ahmed Hussen, to say a few words to AIC members. In case you weren’t able to watch the AGM, here is the Minister’s message to members.

 

A Thank You Message from the Minister Responsible for the Canada Mortgage and Housing Corporation

Thursday February 27, 2020 Hill day

On February 27, 2020 the Appraisal Institute of Canada’s advocacy committee representatives from across the country met with nearly 25 Members of Parliament and federal government officials on Parliament Hill in Ottawa.

This was another great opportunity for AIC Members to meet with MPs to introduce AIC and the important role appraisers play in the real estate industry and in the Canadian economy.

It also proved to be an excellent platform to get in front of federal legislators to ensure appraisers are included in discussions related to real estate as well as to create relationships that could be beneficial for AIC Members and the protection of the public.

 

Our 2020 federal pre-budget submission was also a point of discussion – it can be viewed here.

Finally, the full day of meetings was preceded by a roundtable discussion with the Parliamentary Secretary to the Minister of Finance and the Minister of Middle Class Prosperity, Sean Fraser, which resulted in a good and in depth policy discussion on housing in Canada.

To view pictures from some of the meetings that occurred, please visit our Twitter page @AIC_Canada or Facebook page.

As always, you can send your feedback or comments to 

Monday February 03, 2020 AIC Recommendations Reflected in Federal Government Ministerial Mandate Letters

In mid-December, the Federal Government released their ministerial mandate letters (can be read here).

As you may recall, the AIC’s recommendations to political parties heading into and throughout the last federal election were the following:

– Updating flood maps across Canada

– Exempting Mortgage Renewals from the Application of the Stress Test under B20 Guidelines

– Combatting Money Laundering Through a Beneficial Ownership Registry

Upon review of the ministerial mandate letters, we are pleased to see that the government has made all three of the recommendations priorities for government ministers:

  • Innovation Minister: Work with the Minister of Finance and interested provinces and territories and communities to establish a national approach to beneficial ownership so that law enforcement and the Canada Revenue Agency have the tools to crack down on financial crime in real estate while respecting Canadians’ privacy rights. With the support of the Minister of Finance, conclude consultations with the provinces and territories on the creation of a pan-Canadian public registry for beneficial ownership and prepare legislation reflecting the outcome of those consultations.
  • Natural Resources Minister: Work with the Minister of Public Safety and Emergency Preparedness and with the provinces and territories and Indigenous Peoples to complete all flood maps in Canada.
  • Finance Minister: Review and consider recommendations from financial agencies related to making the borrower stress test more dynamic.

With the Advocacy Committee meeting in late February 2020 in Ottawa, we will meet with Members of Parliament from all political stripes to reiterate the above mentioned public policy priorities and continue to articulate the importance that progress be made on these files.

For questions or comments on this or any other advocacy related matter, please contact us at  

Tuesday June 25, 2019 AIC Meets with Canada Mortgage and Housing Corporation President and Chief Executive Officer, Evan Siddall

On June 25, 2019, the AIC President, Thomas Fox, Past-President, Peter McLean, and CEO, Keith Lancastle, met with the President and CEO of the Canadian Mortgage and Housing Corporation, and Senior Vice President, Client Solutions, Romy Bowers.

Among the subjects discussed were:

  • Important role AIC members play in Canada’s housing market.
  • How appraisals should be required in the new First Time Home Buyer Incentive Program. See more details on this program here.
  • Prudent mortgage underwriting guidelines being applied across the country that includes the requirement for an appraisal.
  • How appraisers can help prevent money laundering in real estate by detecting potential fraudulent activity.

If you have any questions or comments, please contact us at /" target="_blank" rel="noopener">  

Monday May 27, 2019 AIC Meets with Federal Finance Minister

On May 27, 2019, the AIC President, Peter McLean, and CEO, Keith Lancastle, met with Federal Finance Minister, the Honourable Bill Morneau.

With housing and the real estate market continuing to be a hot topic for Canadians, this was a great opportunity to relay the important role AIC members play in Canada’s housing market.

More here.

Tuesday February 05, 2019 Hill day

On February 5th, 2019, the Appraisal Institute of Canada’s advocacy representatives from across the country met with nearly 20 Members of Parliament and federal government officials on Parliament Hill in Ottawa.

This was the second ever AIC Advocacy Day on the Hill where AIC Members met with MPs to introduce AIC and the important role appraisers play in the real estate industry and in the Canadian economy.

It proved to be an excellent opportunity to get in front of federal legislators to ensure appraisers are included in discussions related to real estate as well as to create relationships that could be beneficial for AIC Members and for the protection of the public.

To view pictures from some of the meetings that occurred, please visit our Twitter page @AIC_Canada.

Friday May 18, 2018 AIC’s Submission to Finance Canada on Money Laundering Through Real Estate

As we informed Members in last month’s communique, the Department of Finance Canada is undertaking a review of the money laundering and terrorist financing legislation and regulations that currently exist. They sought input from organizations in response to a discussion paper they issued that could lead to legislative changes. The paper, which can be accessed here, included sections on “Leveraging Information in the Real Estate Sector” and on “Non-Federally Regulated Mortgage Lenders”.

As appraisers play a key role in the real estate industry, the AIC, with the feedback received by its Members, made a submission and it can be viewed here.

2018 Meetings with Federal Government

In this calendar year of 2018, several meetings have occurred at the federal level on various issues such as data access, financial literary, OSFI guidelines, syndicated mortgage regulations and more! Here is a glimpse of some of those meetings:

Prime Minister’s Office – AIC representatives met with the Prime Minister’s new economic and housing policy advisor to introduce the AIC and discuss top of mind issues.

House of Commons Finance Committee Member of Parliament Tom Kmiec – MP Kmiec tabled a motion at committee requesting a study on recent changes made by the Office of Superintendent of Financial Institutions. AIC met with MP Kmiec to state our position on the guidelines.

Additional meetings were held with Members of Parliament in February. Please refer to February 2018 activities

Monday February 05, 2018 Hill Day

On February 5, 2018, the Advocacy Subcommittee had its first ever “Day on the Hill” event where members of the subcommittee met with several Members of Parliament in Ottawa from both the governing party and the opposition to introduce AIC, deliver its position on certain matters and discuss issues. Members met MPs Dan Albas (British Columbia), Francesco Sorbara (Ontario),  Majid Jowhari (Ontario), Raj Grewal (Ontario), Sean Casey (PEI), Alaina Lockhart (New Brunswick).

Data Access

Friday August 09, 2019 New Housing Statistics Portal – Statistics Canada

On August 9, 2019, Statistics Canada unveiled a new Housing Statistics Portal that, in their words, offers users a convenient one-stop shop to find all data and products related to housing such as prices, demography, health and wellness, the labour force, construction and the economy.

This new portal will be continually updated as new information becomes available.

If you have any questions for Statistics Canada on this new portal, you can email them at the following address: 

If you have any questions for the AIC Advocacy team, please email us at 

Thursday August 23, 2018 Supreme Court of Canada Decision on Toronto Real Estate Board Appeal

On December 1, 2017, the Federal Court of Appeal upheld an April 2016 decision by Canada’s Competition Tribunal that ordered the Toronto Real Estate Board (TREB) to allow its members to share the sales histories of listed properties online.

On December 21, 2017, the Federal Court of Appeal issued an Order directing a stay of the Competition Tribunal’s Order pending the determination of TREB’s application for leave to appeal that order to the Supreme Court of Canada.

Recently, on August 23, 2018, the Supreme Court of Canada announced it had refused to hear the appeal from TREB. Essentially, this means that Greater Toronto Area realtors can now publish home sales data on their websites.

TREB is Canada’s largest real estate board, which represents more than 50,000 Ontario agents.

AIC we will be monitoring and also seeking to ensure that our members continue to be able to access the data they need to do their work.

Monday June 25, 2018 Statistics Canada Releases Second Phase of National Housing Statistics Framework

In Budget 2017, the Government of Canada provided funding to Statistics Canada to improve housing data through the Canadian Housing Statistics Program (CHSP). On December 19, 2017, Statistics Canada published its first estimates from the CHSP focusing on non-resident ownership for Vancouver and Toronto. More information can be found here.

On June 25, 2018 they published a second set of data providing information on residential properties and their owners across British Columbia and Ontario, their census metropolitan areas (CMAs) and municipalities. The additional set of data provides a profile of residential property types, estimates of non-resident property ownership, and demographic information on age and sex for individual resident owners for certain residential property types. One key finding is that single-detached houses dominate the Ontario housing market, accounting for almost two-thirds of residential properties in the province. In British Columbia, in turn, the proportion of this property type is less than half. Statistics Canada’s release can be found here.

Friday December 01, 2017 Federal Court of Appeal decision on data access

On December 1, 2017, the Federal Court of Appeal upheld an April 2016 decision by Canada’s Competition Tribunal that ordered the Toronto Real Estate Board (TREB) to allow its members to share the sales histories of listed properties online. The AIC believes this is a step in the right direction in terms of data access and paving the way for more open, transparent and reliable databases. For more information on this please click here. However, on December 21, 2017, the Federal Court of Appeal issued an Order directing a stay of the Competition Tribunal’s Order pending the determination of TREB’s application for leave to appeal that order to the Supreme Court of Canada. AIC will continue to monitor this.

December/November 2017 – Statistics Canada releases data on ownership of Canadian residential real estate

In Budget 2017, the Government of Canada provided funding to Statistics Canada to improve housing data through the Canadian Housing Statistics Program (CHSP). On December 19, 2017, Statistics Canada published its first estimates from the CHSP focusing on non-resident ownership for Vancouver and Toronto. It revealed that non-residents owned 3.4% of all residential properties in the Toronto census metropolitan area (CMA), while the value of these properties accounted for 3.0% of the total residential property value in that metropolitan area. In the Vancouver CMA, non-residents owned 4.8% of residential properties, accounting for 5.1% of total residential property value.

Statistics Canada is now working to expand its reach to all census metropolitan areas for Ontario and British Columbia by the Spring of 2018 as well as adding other key variables such as characteristics of owners. They anticipate having data on 5000 subdivisions and aggregates by March 2022.

In late November, AIC participated in a cross-country roundtable with Statistics Canada as they obtained feedback on the CHSP.

Provincial Initiatives

Tuesday October 20, 2020 FSRA Proposed 2021-2022 Statement of Priorities

The Financial Services Regulatory Authority of Ontario (FSRA) has published its proposed 2021-22 Statement of Priorities and Budget for public consultation.

FSRA is inviting the general public and all stakeholders to review and provide feedback on the proposed 2021-22 Statement of Priorities and Budget.

The consultation period will close on November 3, 2020.

More information can be found here: https://www.fsrao.ca/engagement-and-consultations/fsra-proposed-2021-22-statement-priorities

Wednesday July 01, 2020 Alberta Passes Legislation Impacting Appraisers

In June 2020, the Government of Alberta tabled and passed amendments to the Real Estate Act in the Alberta Legislature that will result in Real Estate Appraisers no longer be required to be licensed under the Real Estate Council of Alberta (RECA). Details of the announcements can viewed by clicking here.

As expressed during the consultation process leading up to the Bill being tabled, the AIC and AIC-Alberta welcome these changes as there were limited discernible benefits to the public by being regulated by RECA, and we continue to believe that the AICs self-regulation processes and other measures adequately regulate its members and protect the public.

While the amendments have been passed in the legislature, licensing and regulation by RECA remains in effect until a “coming into force/proclamation date” that has yet to be announced.

To accommodate the transition away from regulation under the Real Estate Act, RECA has worked with the AIC-Alberta Association to balance the incoming reality with the legislated responsibilities RECA retains until Bill 20 comes into force. The agreed upon solutions are outlined below.

No Fee for License Renewals in 2020

Every year, appraisers renew their license with RECA by September 30. In light of Bill 20 possibly coming into force after the renewal deadline, RECA has agreed to waive the license renewal fee for appraisers for the 2020-2021 licensing year. These licenses will cease upon the proclamation of Bill 20.

Since RECA must continue to regulate appraisers from October 1, 2020 until Bill 20 comes into force, appraisers must still complete a renewal application through myRECA to continue working. It will simply be at no cost.

Waived Pre-Licensing Requirements for New Real Estate Appraisers

Currently, potential real estate appraisers are required to complete RECA’s pre-licensing education focused on professional obligations under the Real Estate Act. These obligations will no longer be relevant upon the proclamation of Bill 20, so the RECA Executive Director has waived the requirement to complete RECA’s pre-licensing education for appraisers prior to becoming licensed.

Potential appraisers who have completed the AIC and AIC-Alberta’s requirements, and who are currently taking or yet to enroll in RECA’s pre-licensing education, can apply for a license immediately, without completing RECA’s course. This license will be for the remainder of the 2019-2020 licensing year, ending September 30, 2020, and is reduced to $275. RECA will not be providing refunds to any potential appraisers who have begun the course.

AIC-Alberta and RECA agree that potential appraisers should continue to read the Real Estate Act and Rules, and combined with responsible supervising real estate appraisers, this will provide adequate oversight for new appraisers in the interim.

If you have any questions about this transition, do not hesitate to reach out to RECA at , or AIC at .

Monday June 01, 2020 AIC-BC made submissions for the Public Beneficial Ownership Registry, the Mortgage Brokers Act, and the future of housing supply and affordability

While the COVID-19 pandemic has consumed most of AIC-BC’s time and resources, work continues on the advocacy front in several areas. One of the areas of focus has been making submissions to the Government of BC related to ongoing consultations on the Public Beneficial Ownership Registry, the Mortgage Brokers Act, and the future of housing supply and affordability.

AIC-BC made submissions for all three over the course of the last two months and they can be viewed here:

For more information or comments, contact AIC-BC at 

For information and comments for AIC-National, please contact 

Thursday April 23, 2020 AIC-Quebec Calls For Property Tax Appeal Extension

The Appraisal Institute of Canada – Quebec Association, in collaboration with the Ordre des évaluateurs agreés du Québec (OEAQ), the Urban development institute of Quebec (UDI), the Canadian Property Tax Association (ACTF), the Canadian Institute of Assessors (ICE) and the Corporation of Landowners of Quebec (CORPIQ) joined forces to ask the Ministry of Municipal Affairs and Housing (MAMH ) to extend the deadline for filing requests for review on property assessments of the roll 2020-2022.

The group made a submission to this effect to the Ministry, and also issued a press release. These joint actions followed several emails and requests from the president of the AIC-QC, Cynthia Villeneuve, since March 24, 2020 making the request. Mme Villeneuve noted that it is the responsibility of that department to ensure fairness to Quebec taxpayers following the application of a legal restriction from the Government of Quebec by giving additional and acceptable time to assert their rights to dispute property assessments following a return to “normal” business activities. Mme Villeneuve further confirmed that New Brunswick, Ontario, British Columbia and Alberta had already made postponement arrangements to address the current situation. She indicated that AIC-QC hopes to have brought attention and motivation to postpone this deadline while the whole of Quebec has been “put on PAUSE!”

Some media across the province have covered the subject, including La Presse, 1077FM Sherbrooke, CHOI FM 98.1, and many others.

Despite all the efforts to date, this request unfortunately remains unaddressed by the Quebec government.

Tuesday February 25, 2020 AIC-Manitoba Meets with Manitoba Finance Minister

On February 25, 2020, AIC-Manitoba President, Jason Schellenberg, and President-Elect, Nicholas Ruta, met with Manitoba Finance Minister, the Honourable Scott Fielding.

In addition to introducing AIC-Manitoba and providing an overview of the important role appraisers play in the Manitoba real property landscape, it was an opportunity to discuss AIC-Manitoba’s 2020 pre-budget submission to the Minister.

Wednesday November 06, 2019 AIC-Ontario Members at Ontario Legislature

On November 6, 2019, the Appraisal Institute of Canada – Ontario (AIC-ON) advocacy representatives from across the province met with Ontario Members of Provincial Parliament (MPP) at Queen’s Park in Toronto.

This was the Second Annual Advocacy Day at Queen’s Park for AIC-ON.

Members met with nearly twenty (20) MPPs to introduce AIC-ON and the important role appraisers play in the real estate industry and in the Ontarian economy.

It proved to be an excellent opportunity to get in front of provincial legislators to ensure appraisers are included in discussions related to real estate as well as to create and build on relationships that could be beneficial for AIC-ON Members and the public.

To view pictures from some of the meetings that occurred, please visit our Twitter page @AIC_Canada. As always, you can send your feedback or comments to 

Friday November 01, 2019 AIC-Ontario Attends Ontario Government Community Benefits Charge Consultation

On June 6, 2019, Ontario Legislature Bill 108 – the More Homes, More Choice Act, 2019 received Royal Assent.

It includes amendments to the Development Charges Act and the Planning Act.

Among the changes is the creation of the new community benefits charges authority in the Planning Act that, when in effect, would increase the certainty of development-related costs for community benefits.

The changes to establish the community benefits charges authority have yet to be proclaimed and require enabling regulatory amendments.

A priority area for consultation is the development of percentages on the value of land that would determine the maximum amount of a community benefits charge.

AIC-Ontario was invited to attend this consultation to provide insight and perspective from the valuation space as these regulatory amendments are being developed.

For information, please contact us at  

Friday November 01, 2019 AIC-Alberta Attends Government Liaison Days

AIC-Alberta attended the Alberta Real Estate Association Government Liaison Days that included interactions and participation from Alberta elected officials and ministers including Service Alberta Minister Nate Glubish.

AIC-AB President also participated in a panel to discuss advocacy initiatives.

Wednesday September 04, 2019 AIC Members Appear Before New Brunswick Legislative Committee

AIC members in New Brunswick made a presentation to the New Brunswick Standing Committee on Law Amendments regarding proposed changes to the assessment of machinery and equipment.

They explained how assessments and valuations are completed for special purpose properties and they were given the opportunity to explain the ethical standards of appraisers.

They also explained that many assessors are AACI and CRA designated appraisers.

Most of the other presenters addressing the proposed changes represented private sector businesses and industry associations, so it was an honour these Members to provide advice from a third party perspective.

Advocacy in Action in New Brunswick!

For comments or questions on this initiative, please contact us at 

Monday April 15, 2019 AIC-British Columbia in the News

The issue of money laundering in real estate has been a focus for the Government of BC.

Recently, in partnership with other real estate associations in British Columbia, AIC-BC offered their expertise and assistance as well as specific recommendations to the Government of BC on how the real estate industry can help tackle money laundering in the BC real estate. The release can be found here.

66 media outlets across the country such as Global, the Toronto Star, CityNews, CBC and others covered the story. In fact, the total online news audience was over 8 million people.

Furthermore, the Government of BC, by way of the Finance Minister and Attorney General, released a statement welcoming the industry’s recommendations and offer to assist the Government in tackling money laundering in real estate. The statement can be found hereand includes this quote:

“The steps being taken by the B.C. Real Estate Association, the Appraisal Institute of Canada, the BC Notaries Association, the Canadian Mortgage Brokers Association and the Real Estate Board of Greater Vancouver are practical and valuable actions that will help guard against criminals using real estate to launder funds. These actions include accepting only verified funds, introducing mandatory anti-money laundering education and making recommendations to government on better information sharing, more engagement with industry and timely and transparent reporting.

“We applaud these industry associations for their work towards stopping money laundering and ensuring public confidence in the real estate industry.”

AIC Members are steadfast in their efforts to flagging and reporting suspicious and fraudulent activity in real estate and AIC, AIC-BC and all other provincial associations will continue to advocate to governments across the country that AIC Members can help.

For more information or comments on this initiative, please contact us at /" target="_blank" rel="noopener">

Sunday December 23, 2018 AIC-Alberta Has Impact on Government Regulations

Since summer 2017, AIC-Alberta advocacy representatives have been providing input into the development of new condominium regulations in Alberta, specifically those related to reserve fund studies.

The Government of Alberta was contemplating establishing a list of professionals who would be permitted to perform reserve fund studies within the Province.

AIC-Alberta made three submissions during the consultation process, including one to the Minister responsible for the regulations, and were invited to attend two roundtable discussions.

These efforts resulted in a positive result for AIC Designated Members in Alberta.

On December 15, 2018, the Government of Alberta released these new regulations and they stipulate the following:

Reserve fund study provider qualifications

21.1(1) In this Part, subject to subsection (2), in respect of the depreciating

property, an individual is not permitted to act as a reserve fund study provider

unless the individual

  • is
    • a professional engineer,
    • a professional technologist,
    • a registered architect,
    • a licensed real estate appraiser, who is a member of the Appraisal Institute of Canada and holds the designation of Accredited Appraiser Canadian Institute,
    • a certified reserve fund planner who is accredited by the Real Estate Institute of Canada, or
    • an individual who has successfully completed training recognized by the Director or possesses qualifications that are recognized by the Director,

Only a handful or professionals are listed and it includes AACI Designated Members. These new regulations will be effective as of January 1, 2020.

It is important to note that in all of AIC-Alberta’s efforts, the case was being made to include both CRA and AACI Designated Members.

Efforts will continue to be made so that CRAs can be recognized as a professional by the Director under the Condominium Property Act that can perform reserve fund studies.

This is just another example of how national and provincial advocacy efforts are important to promote and advance the interests of AIC Designated Members.

For more information, please contact us at

Wednesday October 24, 2018 Appraisal Institute of Canada – Ontario at Queens Park

On October 24, 2018, the Appraisal Institute of Canada – Ontario (AIC-ON) advocacy representatives from across the province met with Ontario Members of Provincial Parliament (MPP) at Queen’s Park in Toronto. This was the first ever Advocacy Day at Queen’s Park for AIC-ON. Members met with MPPs to introduce AIC-ON and the important role appraisers play in the real estate industry and in the Ontarian economy. It proved to be an excellent opportunity to get in front of provincial legislators to ensure appraisers are included in discussions related to real estate as well as to create relationships that could be beneficial for AIC-ON Members and the public. To view pictures from some of the meetings that occurred, please visit our Twitter page @AIC_Canada. As always, you can send your feedback or comments to /" target="_blank" rel="noopener">.

Friday July 13, 2018 AIC-Manitoba and WinnipegREALTORS® form a partnership to assist with infill development within Winnipeg

AIC-Manitoba partnered with WinnipegREALTORS® to examine how new infill developments affect surrounding property values. Often, new infill development proposals are rejected – or met with resistance. By collecting and analysing data surrounding these developments, AIC-Manitoba Members and WinnipegREALTORS® will then be able to provide stakeholders with the information they need to make well-informed decisions regarding infill development within Winnipeg, and create transparency around these development projects. This partnership provides good visibility for AIC and its Members, and it positions them as industry experts and as Canada’s leading real estate valuation professionals.