Rental property owners can typically deduct property taxes, insurance, interest, condo fees, repairs, utilities and other related costs. A rental property can even run at a loss allowing the taxpayer to claim deductions against their other sources of income. Rental properties: Current vs capital expenses There is a distinction between repairs and renovations for a…
Rent Out Property
Choose the right property. Not all properties are created equal when it comes to renting them out. You’ll want to choose a property that is in a good location and that is well-maintained. This will help ensure that your tenants are happy and that they stay for a long time.
Hamilton’s short-term rental bylaw halted so city staff could focus on plans to stop renovations
The City of Hamilton has hit pause on enforcing its short-term rental tires. The new bylaw was supposed to go into effect Thursday, which would’ve made it illegal for property owners to rent out homes for less than 28 consecutive days on sites like Airbnb if they don’t actually live there. The Council passed the…
US Rent Growth Slows, Providing Relief for Millions of Renters
Apartment rental price growth is experiencing a significant decline, leading to a shift in the rental market in favor of tenants. The average of six national rental-price measures, which includes data from rental-listing and property data companies, indicates that new-lease asking rents have risen by just under 2% over the 12 months ending in May….
Should I Rent Out My Home Before Listing It For Sale?
Here is a case study for you. ???? You want to sell your property and it’s vacant, and you’re wondering if you should put tenants in there for a year while they pay off your mortgage while it’s sitting on the market, and then you try to sell it with them in it . ????????…
Buying a second home: How it works in Canada
Can you afford a second home? Familiarizing yourself with the mortgage rules for second properties is step one. Eventually, you’ll have to answer the question, “Can I afford it?” If you’re able to buy the property outright without borrowing any funds, the process is pretty straightforward. However, if you expect to apply for a second…
Thinking about renting out your Seattle-area house? Read this first
What goes up must come down. That old saw is true of the Seattle area’s housing market. After years of pandemic-fueled growth, high mortgage rates and cooling home prices have forced buyers and sellers alike to take a pause and consider alternatives. For would-be sellers, this scenario has turned some into accidental landlords. “The financial…
Here Are 10 Tips for Buying Vacation Property
Pgiam / Getty Images/iStockphoto You’re ready to own a home in paradise. This might mean a property on the water, in the desert or tucked into the mountains, but regardless, it’s a dream come true. Be Aware: These Are the 10 Most Overpriced Housing Markets in the US — 5 Are in FloridaRead: 3 Things…
Opportunities In The Property Maintenance Sector
The rising costs of rental properties could signify an opportunity for savvy investors. With CBC reporting up to an 18% increase in the cost of renting a property [1], many property investors are likely to be purchasing property or seeking to rent out any vacant properties that are in their books. However, to do so…
LaSalle woman allegedly scams families out of thousands in rental house fraud
A 43-year-old LaSalle woman has been arrested in connection to a home rental scam. According to the police, two groups of people simultaneously arrived on Wednesday to a house on the Huron Church Line under the impression they were moving in. Both gave the landlord the initial and final month’s rent. LaSalle Police conducted an…
Watch out for these property scams when buying or renting
Moving house can be stressful enough without having to deal with property scams. The most common types of scam can include conveyancing fraud, as well as coming up against fake buyers and fake landlords. We take a closer look at what is involved, and how you can potentially avoid being a victim of property fraud…