Thanks everybody. My tenants decided to get the fire extinguishers themselves (in fact, they like the idea of taking care themselves). I contacted the Ottawa fire departments and yes, they do expect the fire extinguishers to be in good conditions... I cannot guarantee that (by tagging and...

Thanks Shannon

I have a townhouse and my new tenant is asking if there is a fire extinguisher. I have no problems providing one except that since I do not visit the property every month I would have problems inspecting the extinguisher. In some places I have found that this could be a potential liability...

Thanks Thomas!

Just to have a rough idea. Assuming everything is OK... Does anybody know based on his/her experience more or less how long it takes to get the HST Rebate once the form is submitted to CRA along with the supporting documents? Regards Alex

Thanks TJ for your reply! (I was wondering why you hadn't answered point number 3 :-) ).

I'm very familiar with Quickbooks for bookkeeping my IT consulting services (incorporated). However, I have some questions as far as how to categorize certain rental expenses (T776). I just don't want to "catch-all" too many expenses as "Line 9270 - Other expenses" if they fit some other more...

I just want to validate these definitions as well as the convenience of getting someone to sign as a co-signer vs guarantor in Ontario. Co-signer: a person who signs a tenancy agreement along with the tenant and agrees to be responsible for the obligations of the tenant. For example: the...

Thanks Thomas, At least they should allow reporting these "attached" appliances in a separate track-able class 1 so once they stop working a terminal loss could be claimed (similar to the way can done for Class 8 appliance costing more than $1,000). Of course, I am talking about fairness and...

I know that appliances like washers, dryer, etc... are class 8. If I buy a house and later I decide to add a central air conditioner... Would this addition be considered under the class 8 category? or should it be Class 1? CRA mentions that air conditioners (which are not window units) are...

Thanks Thomas!

I am buying a new property and considering offering some discount/incentive while the builder finishes the driveway, the lawns and to mitigate any other inconvenience associated to the first year of any new house (construction, noise, etc...). My preference is to have the rent paid in full and...