How do I sell my property if I’m a non-resident?
If you’re a non-resident, in order to sell your property you’ll need to partner up with a mortgage broker who is qualified, and whom has lots of experience working with sellers from overseas. The brokers at AKAL Mortgages have years of experience and we’re the right firm for the job.
Do I have to pay taxes when selling my property?
It’s best to consult with a professional accountant, as they’d be the right person to advise you on the tax you’ll be required to pay once you sell your property. You should also know that the government will withhold a portion of your gross selling price (approximately 25 percent), until you’ve completed your tax forms. However, if you complete a “Certificate of Compliance” and submit this as proof, it can reduce (or even eliminate) the tax withholdings.
If I want to rent my property, what is involved?
In order to rent your property you first need to find the right property management company to manage your property and then find good tenants to rent your unit(s). Once you’ve done this, you’ll need to know and understand what else is involved, such as:
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Setting the rental price(s)
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Marketing the property
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Property viewings to prospective tenants
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Tenant screening
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Lease negotiations
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Collecting the rental deposit(s)
If you hire a property management company, they’ll help you to maintain and repair the property when required, as well as help you in maintaining a good relationship with your tenant(s).
Are you able to manage my property?
Although we do not manage properties for our clients, we have over 16 years of experience within the industry and can refer you to a few great property management companies for your consideration. Their monthly fees may vary, depending on your property type, and your needs.
If you have more questions about buying, selling or renting a property we’d love to hear from you, and provide you with the answers you need. We’ll be your support on the path to Canadian home or property ownership. Call to speak to one of our mortgage brokers today.
When we say Yes! We stand behind our promise.