A Landlord’s Guide for Accounting & Bookkeeping for Rental Property
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 […]
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What Are the Landlord’s Responsibilities in Ontario?
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 […]
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What Are the Average Property Management Fees For Rentals
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. […]
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How to Report Income from Selling Your Property as a Non-Resident in Canada
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. […]
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