Sole proprietor landlords in Canada - anyone use a business name?

[Kate H.]

I just bought my first property in Canada, a duplex with 5 tenants, and for various (most tax related) reasons, I have decided to operate the rental as a sole proprietor.

I'm considering whether to register a business name to operate my rentals under, mostly to have a greater degree of privacy and professionalism. I came from the US, where I felt most comfortable operating my rentals under an LLC I owned, but that option is not available here in Canada and for various reasons, I don't want to form a corporation.

Do any of you sole proprietor Canadians operate your rentals under a business name, or do you just use your real name? What are the advantages and disadvantages?

I'm in Ontario if that matters. Some drawbacks to using a business name that I am noticing are that one must pay $80 for each registration or renewal, and the name must be renewed every 5 years. And maybe one would need to get a Master Business Licence??

https://www.ontario.ca/page/business-information-g...

https://www.ontario.ca/page/registering-your-busin...

http://www.forms.ssb.gov.on.ca/mbs/ssb/forms/ssbfo...

[Alison Qin]

Originally posted by @Kate H.:

Originally posted by @Alison Qin:

I use an “assumed name” which sounds like a PM to deal directly with tenancy issues, even if the property is purchased under my legal name as individual.

Did you have to officially register your assumed name with your province?

 Nope