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Renting out house in Canada

Renting out house in Canada

Old May 3rd 2009, 7:44 pm
  #1  
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Default Renting out house in Canada

Has anyone left an unsold house over in Canada whilst they return to the UK?

We are aware of tax implications but my questions is, have you left it empty whilst trying to sell, or rented it out? We have never rented out a property before and are concerned about getting a troublesome tennant when really we want to just get shot of the house therefore leaving no ties over here.

We're hoping a buyer will come along soon, but as time is ticking along, we're not too hopeful.
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Old May 3rd 2009, 9:31 pm
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Default Re: Renting out house in Canada

Originally Posted by wareeswally
Has anyone left an unsold house over in Canada whilst they return to the UK?

We are aware of tax implications but my questions is, have you left it empty whilst trying to sell, or rented it out? We have never rented out a property before and are concerned about getting a troublesome tennant when really we want to just get shot of the house therefore leaving no ties over here.

We're hoping a buyer will come along soon, but as time is ticking along, we're not too hopeful.
My worry about doing this is that any unscrupulous tenant may decide to take a loan out secured on your property - if he can get one-and take off.

I know the safeguards are better now against this type of fraud with identity insurance and the true owner wont be saddled with the new criminal debt but these are desperate times for some people with the economy tanking so
i would sell the place and be done with it.
Even with all the legal safeguards who needs the risk and some of these criminals are pretty sophisticated.
Get the best price you can because this economy is only going to get worse in my opinion
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