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Updated over 1 year ago,
Can a vacant property be considered a rental or short-term rental?
Hi Everyone - I bought my first home 1.5 years ago without realizing that the rental cap on the building was filled. Now, I have a job in another city that I have to move for and I'm not off the wait list to rent out my condo. Am I still able to classify my property as a rental or short-term rental for tax purposes once I move although I'll be unable to rent it out until I'm off the wait list?
Appreciate any help or advice!