Best Canadian Property Management Software

The Ultimate Guide to Tenant Credit Checks for Landlords

Mi Property Portal — Wed, 07 Aug 2024 14:23:06 +0000

Landlords must find renters they can trust. Empty apartments cost money, and late or unpaid rent can wreck your finances. Background checks on renters are a great way to lower these risks. Looking at a potential tenant’s credit history can reveal a lot about how responsible they are with money. A good credit report shows […]

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Capital Gains Tax in Canada

Mi Property Portal — Tue, 30 Jul 2024 22:51:44 +0000

In 2024, changes were made to capital gains tax in Canada. For gains over $250,000, the inclusion rate changed to two-thirds, while the rate for gains under $250,000 stayed the same at 50%. This change aims to make the tax system more fair by distributing the tax load more evenly among different types of income […]

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Freehold vs Leasehold in Canada: What You Need to Know

Mi Property Portal — Mon, 29 Jul 2024 13:06:17 +0000

Are you not sure what “freehold” and “leasehold” mean when it comes to Canadian real estate? You’re not by yourself. There are two types of property ownership: freehold and leasehold. Freehold property means you own both the land and the building, while leasehold property means you only own the building and rent the land. We’ll […]

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Everything You Need to Know About Land Transfer Tax in Ontario

Mi Property Portal — Mon, 29 Jul 2024 12:44:06 +0000

The Land Transfer Tax (LTT) is one of the costs of owning a property in Ontario. This article acts as a roadmap, explaining the LTT’s complexities and providing clear methods to navigate its complications. Dreamers from Ontario, take a moment to center yourself. When you use this article as your compass, you will be able […]

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A Breakdown of Property Management Fees in Canada

Mi Property Portal — Mon, 29 Jul 2024 09:13:49 +0000

Property owners in Canada who are considering hiring a management company need to know how much it costs. These fees cover the daily activities that the company does to manage its rental property. Most of the time, property management fees are between 8% and 12% of the rent you get each month. This system, based […]

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Can Landlords Ask for Your SIN Number in Canada

Mi Property Portal — Mon, 15 Jul 2024 13:57:16 +0000

It can be fun to look for a new place to live, but the application process can be hard to understand. There is a chance that the Social Insurance Number (SIN) will be asked. A SIN is a unique nine-digit number that the Canadian government gives to people who work and get social benefits to […]

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Guide to Security Deposits in Alberta

Mi Property Portal — Sun, 14 Jul 2024 12:50:20 +0000

Security deposits are a common requirement for tenants in Alberta. But what exactly are they, and how are they handled? This guide will provide a comprehensive overview of security deposits in Alberta, covering the rules, interest earned, and the return process. We’ll begin by explaining a security deposit and the regulations landlords must follow, as […]

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Why Use Software for Affordable Housing Management?

Mi Property Portal — Sun, 07 Jul 2024 13:01:32 +0000

Affordable housing is a significant issue in Canada, with over 1.7 million households spending more than 30% of their income on housing (2021). Implementing property management software can help Canadian affordable housing providers operate more efficiently and better serve their residents. This article will dive into the challenges of affordable housing management in Canada, examining […]

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Everything You Need to Know About Security Deposits and Damage Deposits in BC

Mi Property Portal — Tue, 02 Jul 2024 23:28:59 +0000

In this guide on Security Deposits and Damage Deposits in British Columbia, we will learn about legal matters, the initial deposit amount, return at the end of your tenancy and many more. We will go over the basics of security deposits, the ins and outs of pet damage deposits, and the consequences of paying more […]

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Security Deposits vs. Last Month’s Rent in Ontario

Mi Property Portal — Tue, 02 Jul 2024 22:02:54 +0000

No matter how familiar the name “security deposit” sounds, it’s not allowed in the province. Tenants are more likely to hear the phrase “last month’s rent.” But what makes this different from a security deposit? What are the rules in Ontario for this? This guide will explain the main differences between last month’s rent and […]

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