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

What a Realtor Does For You Many people use the terms “real estate agent” and “Realtor” interchangeably. While the terms are related, they hold a key distinction. Understanding the Role and Requirements of Realtors helps you choose the right professional for your property journey. Every home buyer and seller should know who they are working […]

Understanding Real Estate Agent Fees and Commissions 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 intricate web of these fees and […]

Effective Strategies for High-End Property Sales Selling a high-value home requires a distinct and sophisticated approach. The standard methods used for typical properties are often insufficient for the premium market. A successful transaction depends on a deep understanding of the affluent buyer, impeccable presentation, and a precisely executed plan. Effective luxury property sales and marketing […]

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 process of buying or selling a home, to ensure you get the best deal possible, and to convert […]

The Guarantor Role in Real Estate Securing a rental property or a mortgage can be a challenge. Landlords and lenders need assurance that you can meet your financial obligations. If you have a limited credit history, a lower income, or are new to the country, you may need extra support. This is where understanding what […]

Question: How Do You Price a Short Term Rental Property? Answer: To price a short term rental property, research local comparables and use dynamic pricing for seasonality and events. Your base rate must cover all costs, including cleaning, taxes, and municipal licensing fees, to ensure your investment is profitable and compliant with local bylaws. Determining […]

Question: Do Airbnb Guests Have Tenant Rights in Ontario? Answer: No, Airbnb guests do not have tenant rights in Ontario. Ontario’s Residential Tenancies Act (RTA) exempts accommodation for the travelling public. This means most Airbnb guests are licensees, not tenants, and are not covered by RTA protections regarding things like evictions or rent increases. Their […]

Question: Is Airbnb Considered Self Employment Canada? Answer: Whether Airbnb is considered self employment in Canada depends on several factors. The Canada Revenue Agency (CRA) typically considers it rental income. However, if you provide significant additional services like meals or daily cleaning, it is considered business income, making you self-employed for tax purposes. Your Airbnb […]

Question: What Happens if Airbnb Guest Refuses To Leave? Answer: If an Airbnb guest refuses to leave, the guest becomes a trespasser. Do not change the locks. Contact Airbnb support immediately, then call your local police service for assistance in removing them. You may also pursue a claim for damages and any lost rental income. […]

Question: What Happens if Someone Gets Hurt in an Airbnb? Answer: What happens if someone gets hurt in an Airbnb is the host may be liable for injuries due to negligence. Airbnb provides Host liability insurance (AirCover), which is often the first line of defence. The injured person can make a claim through Airbnb or […]

Question: Does Short Term Rent Count As Income in Ontario? Answer: Yes, in Ontario, income from short-term rentals are considered taxable rental income by the Canada Revenue Agency (CRA). This income must be reported on your tax return, and you can claim eligible expenses to reduce the amount of tax you owe. Is Your Short-Term […]

Question: Do You Need a License To Run an Airbnb in Ontario? Answer: Whether or not you need a license to run an Airbnb in Ontario depends on your municipality. There is no single provincial license; regulations for short-term rentals are set by local by-laws. Cities like Toronto and Ottawa require a license or registration. […]

Question: Who Regulates Short-Term Rentals in Ontario? Answer: Short-term rentals in Ontario are primarily regulated at the municipal level. Cities and towns create their own specific bylaws for licensing, zoning, and principal residence requirements. Condominium corporations can also enforce their own rules, which may further restrict or prohibit short-term stays in their buildings. Short-Term Rental […]

Question: How Do I Manage My Short Term Rental Remotely? Answer: To manage my short term rental remotely start by using smart home technology like keyless entry and noise monitors. Hire a reliable local team for cleaning and maintenance. Automate guest communication with software and ensure you comply with your municipality’s specific bylaws for licensing […]

Question: Do People Really Make Money With Airbnb? Answer: Yes, people really make money with Airbnb. It can be very profitable when treated as a business, not passive income. Success depends on location, managing expenses, and adhering to crucial municipal licensing and tax laws, which significantly affect your bottom line. The Profitability of Short-Term Rentals […]

Question: What Percentage Does Airbnb Take? Answer: Airbnb uses a split-fee model, charging hosts a 3% service fee while guests pay a fee around 14.1% – 16.5%. Some hosts use a host-only model, where the entire 14-16% fee is deducted from the host payout. Airbnb’s Commission Structure Potential hosts often ask what percentage does airbnb […]

Question: How Do I Attract More People to My Airbnb? Answer: To attract more people to my Airbnb, boost bookings with professional photos, a compelling description, and smart pricing. Earn stellar reviews by providing exceptional cleanliness and communication. Offering sought-after amenities like fast Wi-Fi and easy self-check-in will make your listing stand out to travellers. […]

Question: What Adds the Most Value to an Airbnb? Answer: What adds the most value to an Airbnb are high-demand amenities and increased guest capacity. Features like a hot tub or sauna, a modern kitchen, or an extra bedroom can dramatically boost your nightly rate and occupancy, providing a significant return on your investment. Maximizing […]

Question: What Are the Pros and Cons of Hosting on Airbnb? Answer: Pros of hosting on Airbnb include high income potential and scheduling flexibility. Cons involve inconsistent revenue, significant management effort, property wear, and navigating complex municipal bylaws and licensing requirements, which vary by city. Exploring the Advantages and Disadvantages of Airbnb Hosting The rise […]

Question: How Do You Calculate ROI on Short Term Rental Property? Answer: You calculate ROI on short-term rental property by dividing your annual net profit by the total cash invested. Net profit is the gross rental income after subtracting all expenses: mortgage, taxes, utilities, cleaning, and booking platform fees. Total cash invested includes your down […]

Evaluating and Operating Vacation Rental Investments Investing in real estate offers many paths to building wealth. One popular strategy involves purchasing and running short-term and vacation rentals. This venture attracts investors who see the potential for high returns and the appeal of owning a property in a desirable location. The model seems simple: buy a […]

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 […]

Question: What are the Taxes on Buying Property in Canada? Answer: When buying property in Canada, you may encounter various taxes such as the Goods and Services Tax (GST) or Harmonized Sales Tax (HST) on new construction, land transfer tax (in provinces like Ontario), and property taxes. What are the Taxes on Buying Property in […]

Question: Do I Need a Lawyer to Sell My House in Canada? Answer: While it’s not a legal requirement in Canada to have a lawyer to sell your house, having one can provide valuable legal guidance, ensure all documents are in order, and facilitate a smooth and legally sound transaction. Do I Need a Lawyer […]

Question: What Role Does a Lawyer Play in Buying a House? Answer: A lawyer plays a crucial role in the home buying process by reviewing legal documents, conducting title searches, ensuring the property’s legal status, facilitating the transfer of ownership, and overseeing the closing process to ensure all legal requirements are met. What Role Does […]