bert07

I appreciate this is different for everyone but would really benefit from hearing peoples experiences with this

OH will be the only earner, earning $110,000 - basic calculators suggest this will be approx $6900 take home each month (Alberta, 3 kids and a wife). Would that be a fair approximation or are there more deductions to come that we have missed?

Based on this, what would be a reasonable amount to allow for rental property - I have been looking around $2000 but have no real idea of whether that is a financially sound!

Company car is included in the package but we may have a 2nd run around if needed/money allows.
No debts to pay.
Reading up across the forum, it would seem about $2k is a reasonable amount to allow for day to day costs, groceries etc.

Aviator

If he takes tom company car home, uses it to get to work and it is for his personal use as well, there will be tax on that as a benefit.

Automobile and motor vehicle benefits

Your calculation sounds close. Depends how up to date the calculator is that you used. CRA online calculator shows approx $6200 a calendar month. Maybe a bit less with other taxable benefits or more depending what is claimed on the personal allowances.

JamesM

I'd think $2k would cover your day to day costs comfortably.

Remember when you make offers on places to rent that you can low ball.

I've never paid asking in Canada. Always 15 to 20 percent less. My advice is look at places for rent at $2200 to $2300 and make offers of $2000. People are always nervous about vacancy periods so play on that.

BristolUK

Depends on vacancy rates I guess. You'd get short shrift from me.

Even higher than usual vacancy rates have never caused a vacancy period for me.

The only 'negotiation' anyone ever tried was to have heating included at a higher rent.

rivingtonpike

No expert but $6900 take home a month seems very high to me for a salary of $110,000. My OH earns more than that and takes home about $1000 less. She has deductions for pensions, healthcare etc etc, but for her these are unavoidable. I would try a few more calculators before taking $6900 as the correct figure.

BristolUK

I see this was moved from the Maple Leaf, but should it have gone into immigration? I thought that was more about entry and residency issues as opposed to cost of living which is usually in the main forum - Maple Leaf too

JamesM

I'd just move on to the next property after giving you an even shorter shrift back

The only time I'd pay asking would be if I was purchasing and I could see clear value.

As a renter I squeeze my landlord and constantly apply pressure the moment anything breaks. if it is not fixed within the legal periods I'm all over them for compensation.

christmasoompa

Oops. I meant it to go to the main forums (where all cost of living/salary/life in Canada questions should go), but obviously didn't quite hit the wrong thing on the drop down menu!

I'll try again...........

Hemi Dave

I also think 6900 is a bit high. Probably closer to 6000 in my opinion.

Aviator

We just got back into renting. Asking a higher rent allows one to be more discerning who one allows in as a renter. There are no guarantees, but for the most part it works.

We ask what we expect to get, if someone does not want to pay that they are free to look elsewhere. I have no problem losing a few month rent to get a good tenant.

There are those that want cheap and expect five star service in return, they are a pain in the arse. Then there are those that break something and expect the landlord to pay to fix it!

If negotiating becomes the norm, the asking goes up, after negotiating the landlord gets what they want and the tenant thinks they got a deal.

Supply and demand has something to do with it, how picky the landlord is also a factor.

R I C H

I agree and use a similar philosophy with my rentals. If people don't like the price it's a free market to look elsewhere.

rivingtonpike

Just popped $110,000 into a simple pay calculator found on Google and for BC the net pay is coming up as $2,879.81 bi weekly.

bert07

Thanks for the info so far - its really useful to hear it from the real world!

I suspected there would be extra deductions to include so its really good to get my head around what they are. I was looking at the alberta.ca tax deductions webpage I think. I would definitely rather work with the lowest figure and be comfortable than the highest figure and find ourselves short - I will have a uk wage coming in for a few months after the move which is the short term buffer zone but I'd rather not need to be touching that for every day living.

For the renting - we rent in the UK currently and have always made an offer for an extended contract/ready to move quickly type trade off so am more than happy to discuss with landlords. We will be looking to move in in Nov/Dec so the savings made by having someone in before christmas and avoiding a dead few weeks is often more than the reduced rent rate losses.

withabix

For BC with the same salary figure, company vehicle (Ram 1500) and 5% pension contribution deducted, for me gives an actual monthly take-home of just under $6300, averaged over both halves of the year to account for MSP.

It will be a lower figure for Alberta iirc.

BristolUK

I've heard many a case of awkward or worse tenants in Ontario.

It's mostly worked for me too. Where I'm more likely to negotiate - and have done so - is on the deposit and accepting it by instalments.

It's not every tenant who can rustle up a month's rent, deposit, moving costs and/or any furniture/electricals needed and deposits/installation costs for cable/phone/power etc even if they've already got a previous deposit available.

If they seem "right" enabling a move-in by taking instalments is a good idea in my book.