PROPERTY MANAGEMENT SERVICES
Non-Resident Property Management
Not a resident and want to buy and rent property in Toronto? Property Management Toronto can help. We help overseas investors find the ideal investment property in Toronto and then manage it for them.
The reality is that the Toronto real estate market is one of the fastest-growing in the world. It's also one of the most competitive and difficult to navigate. Thankfully, we're experts.
With 25 + years of experience buying and selling here, we know the turf. We'll find you the investment, secure the deal, find you A+ tenants, and then manage the property for you. We know that buying an investment property in Ontario can be confusing, and we’re here to make things more clear.
Property Management Toronto offers non-resident services in Toronto to help you navigate a foreign real estate market and Ontario's often confusing tax laws.
Buying Property in Canada
as a Non-Resident
- Apply for an individual tax number:
If you don’t have a SIN number and would like to buy a property in Canada, you will need to apply for an individual tax number with the Canadian Revenue Agency (CRA). - Open a non-resident tax account with the CRA:
When you work with Property Management Toronto, we will open a non-resident tax account with the CRA on your behalf. - Pay 25% withholding tax by 15th day of each month:
As a property manager, Property Management Toronto can open a non-resident account on the behalf of the holder, remitting the monthly withholding tax - NR4 SLIP:
An NR4 slip outlines a property owner’s total revenues collected and withheld, and tax remitted during the year. You can request an Nr4 from the CRA yourself, but this will take much longer than if you work with a property management company like Property Management Toronto who can outline this slip for you faster, and more efficiently.
The NR4 slip can be used to file your annual tax return net of any expenses associated with your rental property. This will lower your final tax liability, or can provide you with a refund on some of the withholding tax already paid.
Frequently Asked Questions
Can I buy property in Canada as a non-resident?
How can you buy an investment property as a non-resident in Toronto?
As a non-resident, we can help you buy an investment property in Toronto. We will open an account under your name with the Canadian Revenue Agency and deposit 25 percent of rental revenue in an account on a monthly basis according to CRA rules and regulations.
At the end of the financial year, you'll get an NR4 Slip so that you can process income tax on your rental revenue. It’s that easy.