Being A Landlord In Canada Compared To U.S?
Ifanybody could please explain the advantages/disadvantages of being a landlord for both single and multi-unit properties in Canada compared to the United States in terms of taxes, laws etc. it would be greatly appreciatted.
Also, say you own a rental property for many years with tenants lvining in it, but you never living in it yourself, do you still pay capital gains tax in Canada when you sell it?
Thanks in advance.
I would be mostly interested in Ontario, I also live in Ontario.
Thanks for the response.
I use a service that runs credit AND calls the employer and landlord. Calling the landlord and verifying income are very important parts of screening IMO.
Also, make sure you call the last two landlords. The current one may be wanting to be rid of a bad tenant and will tell you what you "want" to hear. The landlord before the current one will most likely tell you the truth.