Real Estate News: The Latest, Top Articles in Ontario Canada

Understanding the Role and Requirements of Real Estate Agents – Navigating the Complexities of Real Estate Agent Compensation A realtor stands as a beacon of guidance in the complex labyrinth of real estate transactions. They assist buyers and sellers alike, offering insights into the market, advice on property values, and support during negotiations. Furthermore, realtors […]

Real Estate Agent Fees and Commissions – Understanding Realtor Fees and Commissions Unraveling the complexity of realtor fees and commissions can feel overwhelming for both first-time buyers and seasoned property investors. However, it is an essential part of the real estate process that we cannot ignore. In this article, we will guide you through the […]

Luxury Property Sales and Marketing – The Power of Elegance The world of luxury real estate is a unique realm that requires specific expertise. Sales and marketing in this sphere go beyond the usual aspects of property transactions. It’s an arena where property features blend with lifestyle elements, where aspirational value meets tangible assets, and […]

Realtor Selection and Relationship – Creating a Successful Partnership Choosing a realtor is more than a simple decision – it is a strategic maneuver in the journey of real estate. An adept realtor holds the power to simplify the perplexing process of buying or selling a home, to ensure you get the best deal possible […]

Question: What Does Having a Guarantor Do? Answer: Having a guarantor increases the likelihood of loan or rental approval by providing the lender or landlord with additional security, ensuring the debt will be paid even if the primary borrower defaults. What Role Does a Guarantor Play in a Loan Agreement? Having a guarantor can significantly […]

Question: Why Would Someone be a Guarantor? Answer: Someone would be a guarantor to help a friend or family member secure a loan or rental agreement, especially if the primary borrower has insufficient credit or financial history. Why Would Someone Agree to Be a Guarantor? The decision to become a guarantor is not one to […]

Question: Is a Guarantor a Cosigner? Answer: A guarantor is not the same as a cosigner; a cosigner shares equal responsibility for the debt from the start, while a guarantor only steps in if the primary borrower defaults. Guarantor vs. Cosigner: Understanding the Key Differences When someone you care about needs help securing a loan […]

Question: What Does it Mean to be a Guarantor? Answer: Being a guarantor means agreeing to take on the financial responsibility of someone else’s debt or obligation if they fail to meet their payment or contractual terms. Should You Be a Guarantor? Weighing the Risks and Rewards Being a guarantor can be a big decision. […]

Question: What is a Guarantor in a Mortgage? Answer: A guarantor in a mortgage is a person who agrees to be responsible for the mortgage payments if the borrower defaults, providing additional security for the lender. Demystifying the Role of a Mortgage Guarantor The path to homeownership can be exciting, but it also involves navigating […]

Question: What is a Guarantor? Answer: A guarantor is a person who agrees to be responsible for someone else’s debt or obligation if that person fails to pay or meet their commitments. What is a Guarantor? Understanding Their Role in Financial Agreements Guarantors play a crucial role in securing various financial products, from loans to […]

Question: How Do You Price a Short Term Rental Property? Answer: Pricing a short-term rental property involves considering factors such as location, seasonality, local demand, amenities, and competition. Hosts often use market research and platforms like Airbnb’s pricing tools to set competitive rates. How Do You Price a Short Term Rental Property? A Guide for […]

Question: Do Airbnb Guests Have Tenant Rights in Ontario? Answer: In Ontario, Airbnb guests do not have the same rights as tenants under the Residential Tenancies Act. Their rights and the terms of their stay are typically outlined in the Airbnb agreement with the host. Do Airbnb Guests Have Tenant Rights in Ontario? Airbnb Stays […]

Question: Is Airbnb Considered Self-Employment in Canada? Answer: Yes, operating an Airbnb rental is generally considered self-employment in Canada. Hosts are responsible for reporting their Airbnb income on their tax returns and may be eligible to claim expenses related to their rental property. Is Airbnb Considered Self Employment Canada? Airbnb Income in Canada The rise […]

Question: What Happens if an Airbnb Guest Refuses to Leave? Answer: If an Airbnb guest refuses to leave after their reservation ends, the host may face challenges in removing them, as Airbnb bookings typically do not establish a landlord-tenant relationship. Hosts should communicate clearly with guests, contact Airbnb for assistance, and if necessary, seek legal […]

Question: What Happens if Someone Gets Hurt in an Airbnb? Answer: If a guest gets injured while staying at an Airbnb, the host’s liability may depend on various factors, including the circumstances of the injury and local regulations. Airbnb provides Host Protection Insurance, which may offer coverage for liability claims arising from certain incidents, but […]

Question: Does Short Term Rent Count as Income in Ontario? Answer: Yes, income generated from short term rentals, including Airbnb, is considered taxable income in Ontario. Hosts are required to report their earnings from short term rentals on their tax returns. Does Short Term Rent Count as Income in Ontario? Tax Time The short term […]

Question: Do You Need a License to Run an Airbnb in Ontario? Answer: Yes, in some municipalities in Ontario, hosts may need to obtain a license or permit to operate a short term rental like Airbnb. The specific requirements vary depending on the local regulations set by municipal governments. Do You Need a License to […]

Question: Who Regulates Short term Rentals in Ontario? Answer: In Ontario, short term rentals are regulated by municipal governments. Each municipality may have its own bylaws and regulations governing short term rentals, including rules related to zoning, licensing, taxation, and safety standards. Who Regulates Short term Rentals in Ontario? Understanding Short term Rental Rules in […]

Question: How Do I Manage My Short Term Rental Remotely? Answer: To manage your short term rental remotely, you can utilize technology such as smart locks for keyless entry, security cameras for monitoring, and property management software for handling bookings, communication with guests, and coordinating cleaning services. How Do I Manage My Short Term Rental […]

Question: Do People Really Make Money with Airbnb? Answer: Yes, many people make money with Airbnb by renting out their properties to travelers. However, the profitability can vary depending on factors such as location, property type, demand, pricing strategy, and management. Do People Really Make Money with Airbnb? The Airbnb Income Stream: Myth or Reality? […]

Question: What Percentage Does Airbnb Take? Answer: Airbnb typically takes a service fee from hosts for each booking, which can range from 3% to 5% of the booking subtotal. Additionally, Airbnb charges guests a guest service fee, which varies depending on the total reservation amount. What Percentage Does Airbnb Take? Understanding Airbnb Fees Airbnb offers […]

Question: How Do I Attract More People to my Airbnb? Answer: To attract more guests to your Airbnb, focus on optimizing your listing with high-quality photos, a compelling description, and competitive pricing. Additionally, offer attractive amenities, provide exceptional customer service, and actively engage with potential guests through social media and other marketing channels. How Do […]

Question: What Adds the Most Value to an Airbnb? Answer: Adding value to an Airbnb property can be achieved through high-quality amenities such as comfortable bedding, modern appliances, fast Wi-Fi, and thoughtful touches like local recommendations or a welcome basket. Additionally, providing excellent customer service and maintaining a clean and well-maintained property can enhance guest […]

Question: What are the Pros and Cons of Hosting Airbnb? Answer: Hosting Airbnb can generate additional income, provide flexibility in scheduling, and offer opportunities to meet new people. However, it also requires time and effort for property management, carries the risk of damage to the property, and may face regulatory challenges depending on local laws […]

Question: How Do You Calculate ROI on Short Term Rental Property? Answer: To calculate ROI on short-term rental property, subtract the total investment costs (including purchase price, renovations, and furnishings) from the total rental income, then divide by the investment costs and multiply by 100 to get the ROI percentage. How Do You Calculate ROI […]

Question: Purchasing and Running Short Term and Vacation Rentals Answer: Purchasing and running short term and vacation rentals involve finding suitable properties in desirable locations, ensuring compliance with local regulations and zoning laws, furnishing and maintaining the properties to attract guests, marketing them effectively on rental platforms, managing bookings, providing excellent guest experiences, and handling […]

Question: What Are A Seller’s Obligations In A Real Estate Transaction? Answer: In a real estate transaction, sellers have several obligations, including providing accurate information about the property, disclosing known defects, maintaining the property until the closing date, and adhering to the terms of the sales contract. They must also allow inspections and fulfill any […]

Question: What Does 24-hour Irrevocable Offer Mean? Answer: A 24-hour irrevocable offer in real estate means that the seller agrees to keep the offer open for acceptance by the seller for a period of 24 hours. During this time, the buyer cannot withdraw the offer, providing the seller with assurance that the offer will be […]

Question: What Happens if the Buyer Does Not Remove Contingencies? Answer: If the buyer does not remove contingencies within the agreed-upon timeframe, the seller typically has the right to cancel the contract, and any earnest money or deposits provided by the buyer may be forfeited. What Happens if the Buyer Does Not Remove Contingencies? Missed […]

Question: What Contingency is Most Risky in Real Estate? Answer: In real estate, one of the riskiest contingencies is the financing contingency, where the sale depends on the buyer securing a mortgage. If the buyer fails to obtain financing within the specified time frame, the deal may fall through, causing inconvenience and potential financial loss […]

Question: Do I Pay Tax If I Sell My House And Don’t Buy Another? Answer: In Canada, if you sell your primary residence and don’t buy another, you generally won’t have to pay tax on any capital gains from the sale, as the primary residence is exempt from capital gains tax. However, if the property […]

Question: Who Pays Closing Costs in Canada? Answer: In Canada, closing costs are typically paid by the buyer and may include expenses such as legal fees, land transfer taxes, title insurance, home inspection fees, and adjustments for property taxes and utilities. Who Pays Closing Costs in Canada? Closing Costs in Canada The home buying process […]