It is an odd shape, the zoning is rf3. Fortunately the existing house is about 10ft set back from from both the Ave and street leaving about 35 feet of space to build on on the inside....so although the lot is oddly shaped there is still quite a lot of space left over.

I am living on a 75 x 75 corner lot near the U of A in Edmonton. I am considering building a second house on the lot. The existing property is just under 2000sq ft so the new property would likely have to be a "skinny" house. One potential snag is that I don't have a back alley and I don't...

Also my accountant has advised me not to include depreciation of 4 % as it will add capital gains if and when I go to sell the house.

Sorry but do you mean most aren't paying tax on rental income if you have a mortgage ? I must have missed something.

Thanks for the responses. My accountant blew through everything rather quickly leaving me with a decent Lump to pay into an RRSP account. I am wondering if it is possible to write off any vehicle expenses as I did use my truck to transport tools and materials while doing maintenance/renovations...

It is my first Tax season as a landlord and Property owner. I bought my first property this year. It is divided into three units, one per floor. I live in the basement unit and rent out the other two. I spent a couple of months and a few thousand dollars renovating the basement and have kept my...

Hi I just recently became a landlord for the first time and would like to use an accountant. I previously filed my own income tax returns but don't want to take any chances with the extra income and write off's etc.

Excellent information. Thank you. It's a tricky situation as I have inherited the tenants mid lease. It's a 1 year lease that expires in August. I'm probably going to let them break the lease at the end of May, also forfeiting the damage deposits if they can't find new tenants. Essentially...

Alberta.

Hi I just purchased my first rental property a month ago. It is a triplex and I am living in one of the suites. I have assumed the leases of the sitting tenants and the lease is up at the end of August. The tenants in one of the suites have decided that they want to move out at the end of...

The one in Bonnie Doon would be close but the Allendale would not. Yea the high vacancies is worrying I suppose it just means the rental units will have to be to a good standard.

I am considering buying live-in rental properties in Bonnie Doon and in Allendale. I'm wondering which area would be preferable both in terms of a rental investment and as a place to live. Any advice is welcome. Thanks.