CRA Confirms No Tenant Liability for Foreign-Owned Property Income Taxes Earlier this year, a case was decided that had tenants trying to find out if they lived in a foreign-owned property or not when the Canada Revenue Agency found a tenant liable for paying withholding taxes that their landlord had not remitted. Recently, the CRA …
CRA Confirms No Tenant Liability for Foreign-Owned Property Income Taxes Read More »
Evicting a Family Member in Ontario We all want to help people, and especially family. But sometimes that desire to help can turn into a situation where you need to evict a family member. How can you go about it legally in Ontario? The first step is to determine if the family member qualifies as …
Becoming a landlord can sometimes feel like stepping into a regulatory minefield. It’s not enough to have a well-situated, well-maintained apartment – your property also has to meet certain building standards and codes. Overlooking these crucial details could mean extensive renovations, losing tenants, or even incurring fines. What regulations do Toronto landlords need to know? …
With home prices rising out of reach for many Canadians, eager buyers are exploring other options. Co-ownership has become a growing trend, according to a recent survey from realtors Royal LePage, and most of those who buy property with family or friends are doing so because they can’t afford to go it alone. “In an …
If you’re a landlord, there will inevitably be times when you’re sitting on an empty unit. You might be in between tenants, preparing for a renovation, pushing the pause button on your rental career – whatever the reason, you need to make sure your property is protected. Homes that aren’t lived in quickly start to …
Property Maintenance for Vacant Units – Tips for Toronto Landlords Read More »
Given the recent volatility of Toronto’s real estate market many would-be property investors have been biding their time, waiting for prices to slump. Last month, they got their wish. The February report from the Toronto Regional Real Estate Board (TRREB) shows a big drop in average home prices across the GTA as the market corrects …
Looking to Invest in Toronto Real Estate? Now’s The Time to Buy Read More »
Homeowners in Toronto have until the end of the month to declare if their property is occupied. After that, anyone sitting on a vacant unit will face a hefty fine as the city cracks down on absent investors. The annual Vacant Home Tax, set at 1% of the property’s current value, will be levied on …
Escape the Vacant Home Tax by Becoming a Toronto Landlord Read More »
The holidays are a time to decorate, get together, and celebrate the advent of a new year. They’re also a time to practice good fire safety. Candles, Christmas trees, even the holiday dinner, are all potential fire hazards so it’s a good time of year to share some fire safety tips with your tenants. Holiday …
There’s a lot that can go wrong in a rental, but heading into winter, a broken or malfunctioning furnace is one of the worst. If your heating fails, you’ll be left with very disgruntled, shivering tenants so it’s best to be proactive. Give your furnace a maintenance check at the start of the season, paying …
Is It Time To Replace The Furnace In Your Rental Property? Read More »
House sales across the GTA may be dropping but prices are staying flat, according to the Toronto Regional Real Estate Board’s (TRREB) latest forecast which indicates that affordability remains an ongoing challenge in the market. There were 5,627 home sales in Toronto this August – a 34.2% drop since the same period last year. Prices, …
Latest TRREB – Sales Dive But Prices Remain Mostly The Same Read More »
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