Home improvements and repairs are necessary investments for maintaining and increasing the value of your home. But did you know that these expenses can also provide potential tax deductions? Understanding the difference between home improvements and repairs, and the requirements and restrictions for deducting these expenses on your taxes, can save you money in the…
The Landlord Tenant Board (LTB) is a government agency in charge of resolving disputes between landlords and tenants in the province of Ontario, Canada. Non-payment of rent is a common issue brought before the LTB, where a tenant fails to pay the agreed-upon rent amount to their landlord. This can result in financial and legal…
Introduction to Owning a Rental Property Owning a rental property can be a lucrative investment, providing a steady stream of income and potential for long-term financial stability. However, it is important to consider all the costs associated with owning a rental property before making the decision to invest. In this article, we will discuss the…
Interac e-transfer is a popular electronic payment service offered by Interac, a Canadian payment network. It allows users to send and receive money securely and instantly using their email address or mobile phone number. With the rise of digital payment options, many landlords are considering using Interac e-transfer for rent collection. In this article, we…
Many individuals view their rental property as simply a means of generating passive income, however, it is important to recognize that it is also a business. Whether you own one property or multiple, treating your rental property as a business can bring numerous benefits and improve overall success. At its core, a business is an…
A security deposit is a set amount of money that a landlord collects from a tenant before the tenant moves into a rental property. This deposit acts as a form of protection for the landlord in case of any damages or unpaid rent by the tenant. In Canada, security deposits are a common practice in…
A rental lease is a legally binding contract between a landlord and a tenant outlining the terms of a rental agreement. It specifies the rights and responsibilities of both parties during the tenancy period. Tenants are expected to fulfill the terms of the lease, which usually includes paying rent on time and taking care of…
A lease clause is a contractual provision in a rental agreement that outlines the rights, duties, and obligations of both the landlord and tenant. It serves as a legal document that protects both parties and sets the terms and conditions for the tenancy. As a landlord, including specific and effective lease clauses in your rental…
Introduction to Renters With Pets Renting with pets has become increasingly popular in recent years, with statistics showing that over 60% of American households own a pet. However, finding a rental property that allows pets can be a challenge for pet owners. Landlords may have concerns about potential property damage, disturbances to neighbors, and liability…
Introduction: Renting out a property can be a lucrative business, but it can also be a headache if your rental remains vacant for an extended period. In today’s competitive rental market, it is essential to have a solid strategy to attract and retain tenants. If your rental property is still vacant despite your efforts, here…
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