Here is some information for landlords, to help them manage their long-term rental properties.
Did you know that in Ontario, if landlords don’t increase the rent, tenants are owed interest on their deposits? Source: Ontario Landlord Tenant Board.
Did you know that the cost of improvements are not tax deductible the same way repair and maintenance expenses are? Owners should track them separately or they might face reassessment from the taxman.
Did you know that some equipment rental agreements put the onus on you, the property owner, to maintain the equipment? Even though you don’t own it, you might be on the hook to repair a piece of equipment if something goes wrong. So, make sure you maintain the rental equipment on your property, or at least schedule the maintenance calls with the rental company.