I wish there were proper guidelines to follow in Ontario! 

I have seen clients reduce tax bills by very large percentages through proper planning.Let me know if you have any questions or would like to talk in a bit more detail. 

- Guest Insurance – Do you require guests to carry their own insurance, or do you use a service like Safely, Proper Insurance, or another option to cover damages?

Your emphasis on proper property management is a key takeaway, and I’m committed to educating myself in areas like tenant screening, lease enforcement, and proactive problem-solving.

Structuring your rental income properly can help you qualify for additional financing while maximizing your cash flow and tax benefits.Final ThoughtsWhile DSCR loans are a powerful tool for real estate investors looking to grow their portfolios without using personal income for qualification, they aren’t completely invisible when it comes to future financing.

In return they can show you exactly how they structure the deal and all the proper paperwork.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊https://www.biggerpockets.com/member-blogs/3094/91097-why-you-should-screen-a-pm-company-like-you-screen-for-tenantshttps://www.biggerpockets.com/member-blogs/3094/91878-how-to-screen-a-pmc-better-than-a-tenant-part-2-communication-and-documhttps://www.biggerpockets.com/member-blogs/3094/91879-how-to-screen-a-pmc-better-than-a-tenant-part-3-the-management-contr

Even if the work was done years ago, an open permit still appears in city records until the proper paperwork is filed and approved.Open permits can create major obstacles in a transaction.

You need to terminate the tenancy with proper notice.

If he signs away his interest in the property without the loan being paid off or being properly assumed, the lender can call the loan due.