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Updated almost 2 years ago on . Most recent reply

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Lily Scanlan
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Can a vacant property be considered a rental or short-term rental?

Lily Scanlan
Posted

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!

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