I’ve come across details regarding the Prohibition on the Purchase of Residential Property by Non-Canadians Act, and it seems there are exceptions for buyers with a valid work permit or for properties outside Census Metropolitan Areas (CMA) or Census Agglomerations (CA).Do you know if certain types of work permits are more favorable for this purpose?

And yes, you are still responsible for wiring earnest money to the closing attorney/title company when you put the property under contract.

I guess they are holding you ultimately responsible for pricelabs raising rates.

@Cedric Ferrell appreciate the response.

How was their responsiveness and flexibility?

I also wonder if this unconventional STR would pass the criteria for the STR test for tax purposes.

The property tax savings are going to be in the ball park of 40-60%, but to be safe you should double your expected repairs budget when calculating the NOI.If you have any other questions, or want a more in-depth response, I would love to help!

This tenant currently lives in my property with a roommate and they are both equally responsible for the rent.

I have voiced several concerns with no responses.

Lau, generally if you are financing with a commercial lender- we lend for business purpose only and a rental property would fall under that category.