Rental Proeprty Management
If you're the owner of residential rental property in the Greater Vancouver area then we can be of service to you. We offer full property management services to property owners on an ongoing basis for the long term. As a result many of our clients have been with us for more than ten years.
Our primary service is rent collection. We will act as a rental agent to collect your tenant's rent, pay repair bills, mortgages, strata payments/condo fees, property taxes, non-resident taxes, and any other payments that you instruct us to make. As a provincially licensed real estate company we maintain a trust account for clients funds in strict compliance with the Real Estate Services Act of British Columbia. A condition of licensing is a yearly audit for the Real Estate Council of British Columbia.
We will send you monthly statements of account, including all bills that have been deducted from your account. We do not add any sort of surcharge to repair bills. At tax time we provide an annual statement of income and expense.
We can manage property for investors from anywhere in the world. We have clients in North America, South America, Europe, Asia, Australia and Africa. We communicate and do business globally each and every day.
Off shore owners of Canadian real estate may be required to remit non-resident tax to the Canadian government if they are deemed to be non-residents for income tax purposes. This status has nothing to do with immigration status. A Canadian citizen could be a non-resident for income tax purposes just as easily as a non-Canadian could.
Compliance with the tax laws are simple, although not easy. Its very important to comply. If the property is sold in the future its very likely that the non-resident status will become obvious.
Non-compliant owners will face burdensome paperwork, as well as potentially crippling penalties and interest charges. The solution is to have a Canadian agent who is willing to sign an undertaking to remit taxes on behalf of the non-resident. Coronet Realty Ltd. provides this service.
Non-residents pay 25% of their rental income in tax, and must remit this monthly, but if you make use of our service you pay 25% of net rather than 25% of gross. This makes a huge difference to cash flow. Without an agent the owner of a cash flow neutral property will be required to contribute a monthly top up of 25% of the gross income and see that it is remitted to the CRA.
A cash flow negative owner is even worse off. By making use of our service the remittance is reduced to 25% of net, which translates to zero. In that case all that is required is that the paperwork be filed with CRA in a consistent manner.
Our primary service is rent collection. We will act as a rental agent to collect your tenant's rent, pay repair bills, mortgages, strata payments/condo fees, property taxes, non-resident taxes, and any other payments that you instruct us to make. As a provincially licensed real estate company we maintain a trust account for clients funds in strict compliance with the Real Estate Services Act of British Columbia. A condition of licensing is a yearly audit for the Real Estate Council of British Columbia.
We will send you monthly statements of account, including all bills that have been deducted from your account. We do not add any sort of surcharge to repair bills. At tax time we provide an annual statement of income and expense.
We can manage property for investors from anywhere in the world. We have clients in North America, South America, Europe, Asia, Australia and Africa. We communicate and do business globally each and every day.
Off shore owners of Canadian real estate may be required to remit non-resident tax to the Canadian government if they are deemed to be non-residents for income tax purposes. This status has nothing to do with immigration status. A Canadian citizen could be a non-resident for income tax purposes just as easily as a non-Canadian could.
Compliance with the tax laws are simple, although not easy. Its very important to comply. If the property is sold in the future its very likely that the non-resident status will become obvious.
Non-compliant owners will face burdensome paperwork, as well as potentially crippling penalties and interest charges. The solution is to have a Canadian agent who is willing to sign an undertaking to remit taxes on behalf of the non-resident. Coronet Realty Ltd. provides this service.
Non-residents pay 25% of their rental income in tax, and must remit this monthly, but if you make use of our service you pay 25% of net rather than 25% of gross. This makes a huge difference to cash flow. Without an agent the owner of a cash flow neutral property will be required to contribute a monthly top up of 25% of the gross income and see that it is remitted to the CRA.
A cash flow negative owner is even worse off. By making use of our service the remittance is reduced to 25% of net, which translates to zero. In that case all that is required is that the paperwork be filed with CRA in a consistent manner.
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Learn more about Residential Property Management. Stop by Oswaldo Taggart's site where you can find out all about Rental Management and what it can do for you.
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