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Your property manager is the person you work with to rent out your home. The relationship between owner and property manager is important, so understanding how much it costs to hire a good one can help you make a more informed decision. Itemized List of Services Property managers should offer an itemized list of services. […]

Many non-residents who own property in Canada find it challenging to understand how the Income Tax Act applies to their situation. There are three basic things you need to know about – requirements, withholding taxes and reporting income.  Requirements You need to have either a Social Insurance Number (SIN) or an Individual Tax Number (ITN). Canadian […]

For Canadian residents, the process for reporting income on the sale of a property is quite simple. You report the capital gain or business income on your T1 personal tax return.For non-residents, it’s a little more complex – the reason being that the Canadian government doesn’t want to chase after a non-resident to pay taxes. […]

It’s sometimes challenging to find a property manager who will take care of your property’s management professionally and responsibly. Hiring the right property management firm is crucial for your overall financial situation as well as your mental well-being. Imagine how much money you will lose when you hire a property manager who doesn’t have the […]

If you have decided to invest in your property and give it for rent, you will need to have an accounting system to be able to handle rental income and expenses. A rental property can be a source of regular income and will ensure financial well-being, but for this, first, you will need to understand […]

When you are a landlord in Canada, you need to be sure that the unit that you rent out is aligned with the regulations and rules regarding maintenance, safety, and health. You may ask, “As a landlord, what are my rights?” The Residential Tenancies Act outlines the obligations that come with leasing a home to […]

Can you inherit the real estate? It is definitely possible to inherit a house in Canada, and it’s not surprising that you may not be the only one inheriting property from your parents. Your anxiety and stress are multiplied when you not only try to manage the death of your loved one but also need […]

The Ontario government has proposed making it easier for municipalities to enforce penalties against developers who break the province’s ethics code. Developers in Toronto, Ontario are required to adhere to a strict set of ethical and professional standards, as well as abide by construction regulations in Ontario. Cause of Penalties to Condo Developers in Ontario […]

Tenant retention is perhaps the most important aspect of your property management. It doesn’t matter whether you own 10 or 1,000 units; the cost for acquisition and vacancy is significant for any property. That’s why tenant retention should be a key component in your overall property management plan. Plus, when you can retain renters, not […]

If you’re thinking of buying rental property in Toronto, there are many things to consider. Buying a rental property in Canada can be a great way to earn passive income, but it’s important to consider the costs and responsibilities of being an owner-occupier before jumping into the market. So what are some tips about buying […]

You may be a great landlord or property owner, but that doesn’t mean you need to manage your rental properties yourself directly. It’s likely that you don’t have the time to successfully rent out your vacant units and keep up with all of their expenses and upkeep. This is why it’s important to choose a […]

There are plenty of reasons to rent property in Canada. Given the relatively high cost of buying a home, renting is the most affordable way for many people to live comfortably. If you’re planning to rent a property or already have one, there are some taxes that you need to consider. The good news is […]