Archives for rental property

Investment Properties and Tax Benefits

Investment Properties and Tax Benefits As tax season is upon us, here is what you need to know. Being a landlord requires a lot of thought and care, and comes with risks attached, but it can also pay big dividends as a source of supplemental income or a way to subsidize the purchase of investment properties. When people think of becoming a landlord, they often think of earning money from the rent paid by tenants or saving money on the mortgage for an investment property. However, some landlords may not be aware that they can also save money on their
Read More

CMHC announces new rules to make it easier for homeowners to rent out property

In this Financial Post article, Garry Marr discusses the impact of upcoming changes from Canada Mortgage and Housing Corp (CMHC) that will permit homeowners to count 100% of the income from their secondary units when qualifying for a loan.  Currently, homeowners with legal units can only count 50% of the income from legal rentals.  By making it easier to borrow money, Marr suggests CMHC will be bringing more people into the market, and that is expected to boost affordable housing, especially in hot markets like Vancouver where secondary units make up almost 20% of the city’s rental stock.  To read
Read More