Toronto Real Estate: What is Retrofit?

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From time to time when dealing with income properties in the GTA or Greater Toronto Area, the question of "retrofit" comes up. What is it? What does it mean? What are the rules and regulations surrounding it? But, most important where do I find the comprehensive information to explain it. After a few frustrating hours on the City of Toronto web site....with no luck, I found what I was looking for on the Carson Dunlop & Associates Ltd. This article answers all the questions that you need to know about retrofit.

Have a good read knowing that I would estimate that the number of units in the GTA that have retrofit are way outnumbered but the number of apartments that do not.

Please note however, that when buying a rental property disclosure of Retrofit or Non-Retrofit should be part of any Agreement of Purchase and Sale.

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