I am a Property Owner who would like to list my property for rent. How does it work?
Before contacting the office, make sure to have a look at our service descriptions. If you find you have more questions, please don't hesitate to contact us or call our office at 604-736-5611 and tell us more about your property. A Rental Property Manager will contact you promptly to provide more descriptions of our services.
As a property owner, am I required to carry insurance on my unit even though it is tenanted?
Owners are expected to maintain insurance on their properties, even if tenanted. It is important to check with your insurance broker and Property Manager to ensure that you are sufficient coverage. In addition, tenants are asked to insure their belongings and maintain liability insurance. While we strongly recommend all tenants carry insurance, this request cannot be enforced by law.
What determines the value of my rental property?
Ultimately, the rental market dictates the value of your rental property. It fluctuates depending on current market conditions and availability. We offer a detailed market analysis and work with you to optimize your rent based on your goals.
I am a Non-Resident of Canada and own an investment rental property. What are my tax implications?
If you are classified as a “non-resident” of Canada and own investment properties in Canada, 25% of your annual income generated by your rental properties is remitted to Revenue Canada.
Macdonald Property Management can assist with the preparation of and filling remittance of taxes for non- residents.
Who is responsible for filing income taxes?
You are responsible for filing your own income taxes in relations to your rental properties. You will need to hire an accountant to take care of this for you. Our company will provide to your annual income statements.