- Joined
- Oct 17, 2007
- Messages
- 295
I am considering turning 2 of my units in a multi family building I have into furnished rentals. A corporation has approached me to do so and are willing to sign leases.
I wanted to see if anyone on the forum was willing to share their experience and knowledge in the executive furnished rental arena.
I wanted to see if anyone on the forum was willing to share their experience and knowledge in the executive furnished rental arena.
- Do you utilize a separate lease specific to furnished rentals?
- Does CRA start treating the property as a hotel if you have too many furnished rentals? I understand you need to maintain a minimum of 3 month leases to fly under the radar?
- Do the banks or CMHC shy away from financing or refinancing these buildings?
- Do you run the full amount of the furnished lease through your property manager paying the additional manager fee?
- Any other challenges or concerns that you have run into?