Management/Letting company in Canada to lookafter my condo while I am in UK
Nov 14th 2012, 7:51 pm
#1
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Management/Letting company in Canada to lookafter my condo while I am in UK
Hello all,
planning on moving back to the UK in 2013 (due to personal circumstances). I have a mortgaged apartment in Canada which I would like to rent out. I'm unable to sell it right now (the mortgage term is till 2015) so I'm looking for a management letting in Canada (or leasing as they call it here in Canada) that is happy to manage/collect rent.
if you know any please let me know.
many thanks in advance
Sarah
planning on moving back to the UK in 2013 (due to personal circumstances). I have a mortgaged apartment in Canada which I would like to rent out. I'm unable to sell it right now (the mortgage term is till 2015) so I'm looking for a management letting in Canada (or leasing as they call it here in Canada) that is happy to manage/collect rent.
if you know any please let me know.
many thanks in advance
Sarah
Nov 14th 2012, 8:14 pm
#2
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Location: Upstate South Carolina
Posts: 30,768
Re: Management/Letting company in Canada to lookafter my condo while I am in UK
Might be as well to ask in the Canada area too...
As I said in the other thread though, if you sell it after you leave Canada then there will likely be a big tax hit as its no longer your primary residence.
You either pay the mortgage company interest between now and 2015 anyway, or you pay the interest penalty to pay off the loan early, so I dont see it makes any difference in that respect, but the capital gains hit could be significant.
http://www.cra-arc.gc.ca/E/pub/tg/t4...tml#P175_18656
As I said in the other thread though, if you sell it after you leave Canada then there will likely be a big tax hit as its no longer your primary residence.
You either pay the mortgage company interest between now and 2015 anyway, or you pay the interest penalty to pay off the loan early, so I dont see it makes any difference in that respect, but the capital gains hit could be significant.
http://www.cra-arc.gc.ca/E/pub/tg/t4...tml#P175_18656
Last edited by iaink; Nov 14th 2012 at 8:17 pm.
Dec 10th 2012, 1:36 pm
#3
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Re: Management/Letting company in Canada to lookafter my condo while I am in UK
Many thanks for your help, much appreciated.
