Why Millennials are Buying Income Properties & Becoming Landlords

Date Posted
21 August 2018
Real estate is crazy out there – right from the one bedroom condo that sells for $600 a square foot to the unaffordable starter home that starts at $750,000. And that’s why millennials are becoming landlords - buying an income property and benefiting from the investment and income.In fact, recent polls suggest that those who own a rental property can generate an income stream, cover their monthly costs, and even reduce their own housing costs. For these reasons alone, the idea that millennials are becoming landlords makes sense. And it can also be a profitable invest.
Why Millennials are Buying Income Properties & Becoming Landlords

Young Canadians are realizing the benefits of an income property

Clearly, there are a number of tax benefits that make an income property worthwhile (as long as you understand all the tax implications). And while the number crunching can take you in various directions, the bottom line paints a rewarding outcome. Which is why millennials are becoming landlords and benefiting from the very strong supply and demand dynamics of today’s market. Real estate statistics point to millennial Canadians as more likely to be landlords than other age groups. Indeed, the overall statistics express quite a bit about current trends and future trends.
  • practically half of millennial homeowners are either already landlords or plan to be
  • almost three-quarters of homeowners believe that real estate can provide an income
  • twice as many millennials as boomers would choose to buy a rental income property
  • more than half of all landlords believe that an income property is well worth the “pain”
Amongst other reasons, the growing interest in buying an income property has much to do with offsetting housing costs, while building equity at the same time. And for a majority of landlords, even a “negative cash flow” scenario can offer tax deductions that make the income property a good investment. All this, of course, must be valid and lawful, and in compliance with CRA rules.

Understanding rental property income and CRA tax implications

Regardless of age, it’s important for an income property owner to understand the various tax implications of ownership. And that includes everything from deducting capital expenses, to deducting operational expenses, to benefitting from various government tax rebates. Here, it’s wise to get advice from a knowledgeable realtor, lawyer, and even a reputable tax specialist.

Getting familiar with the New Residential Rental Property Rebate

Since more millennials are becoming landlords, it’s wise to get familiar with the New Residential Rental Property Rebate. This rebate is open to landlords who rent out their newly purchased real estate property. The NRRP Rebate is available right after the real estate transaction has closed. The rebate is offered to new landlords who paid HST on a property purchase that will be slated for rental. There is a registration process and there are specific guidelines. And as a government backed rebate, the application must be submitted correctly, on time, and with backup documents. Like other incentive programs, the regulations can quickly get confusing. In fact, an improper or misfiled application can potentially jeopardize the entire rebate. Beyond any other guidelines, landlords must remember that “renting out” means at least one full one-year of signed tenancy.

Working with the tax rebate specialists at Rebate4U

The fact that millennials are becoming landlords also means that there’s a learning curve. And with real estate tax rebates, that learning curve could be steep. At Rebate4U, our in-house experts have years of expertise dealing with a wide range of government backed rebate programs. With the experts at Rebate4U, application paperwork is submitted properly and on time. There are no loose ends. Whatever the type of rebate, our people manage the complete process - from application, to follow-up, to rebate cheque. We do our best to get the highest possible rebate. When you work with Rebate4U, everything is streamlined and straightforward. It’s particularly beneficial for first time landlords who are getting familiar with everything. Learn more by calling our toll free number at 1-800-610-4510 or by visiting our company website at .

Contact Us

Rebate Calculator

Please enter the total value of your renovation including tax.

Total construction cost
(including taxes)
Search Our Blogs

More of our Blogs

30 April 2024

What to Do When You've Been Contacted By the CRA for Your HST Rebate

Being thorough, accurate, and honest in your application is essential for a successful HST rebate claim. To ensure that it is accurate, contact Rebate4U. Our team has successfully secured millions of dollars in rebates for our clients, for over a decade.

View Full Post
15 April 2024

How to Cash in on Your Spring Renovations with the Ontario Rebate Program

Learn more about how you can cash in on your spring renovations with the Ontario rebate program!

View Full Post
26 March 2024

Tips to Ensure Your Renovation is Substantial Enough for the HST Rebate on New Homes

The Harmonized Sales Tax (HST) Rebate on home renovations is a significant financial incentive for homeowners in Ontario, providing a golden opportunity to recoup a portion of the expenses involved in upgrading and enhancing their living spaces. This rebate is offered via Canada Revenue Agency, and it aims to encourage property owners to invest in their homes, not just for personal satisfaction...

View Full Post
13 March 2024

How to Claim the HST Rebate on Rental Properties

The HST rebate on rental properties or the New Residential Rental Property Rebate is an excellent opportunity for new condos and homeowners who are not planning on occupying the property to get some money back that was invested in the purchase of the new home. Choosing to rent a property is an effective secondary passive income. When paired with the HST Rebate in Ontario, a rental property can be...

View Full Post
26 February 2024

How to Find a Tenant Ahead of Your HST Rental Rebate Application

If you’re renting out a new residential property, the HST Rebate in Ontario is a great opportunity to get back some of the money you’ve invested into purchasing the condo. Available via Canada Revenue Agency, the New Residential Rental Rebate Program can mean thousands of dollars back. To qualify for this rebate program in Ontario, you must meet the criteria set out by Canada Revenue...

View Full Post
10 February 2024

3 Stand-Out Benefits of Applying for HST Rebate on Home Renovations

Home renovations are a great way to revitalize your existing property to transform it into your dream home. Working with the best contractors you can make large-scale upgrade plans that rebuild your home from the ground up. With programs like the New Home HST Rebate in Ontario, the cost of these significant upgrades can be mitigated. By working with the experts at Rebate4U you can assess your...

View Full Post
31 January 2024

Why Turn Repairs into Renovations with the Home Renovation HST Rebate

Whether you’ve recently purchased a new home that needs a lot of work or are ready to upgrade your existing home, renovations and remodels can rack up quite the bill. But for homeowners in Ontario, the HST rebate on home renovations is a viable option that can help you get more return from your investment. Read on for more information!

View Full Post
18 January 2024

Which Part of Your Home Renovations Are Subject to HST in Ontario?

Like with the transaction of any good or service in the province, there is a 13% tax (Harmonized Sales Tax) added to every purchase, including the sale properties. When buying a home, this tax can add up to a substantial amount. In Ontario, the HST Rebate program is offered to residential property buyers as a way to offset the cost of new home purchases.

View Full Post
15 December 2023

What to Do When You're Not Ready to Move Into Your New Condo

If you’ve bought a new condo and want more insight into your rebate options, from the HST Rebate on new homes to the New Residential Rental Property Rebate, contact the experts at Rebate4U for more insight and personal guidance.

View Full Post
27 November 2023

So You Built a New Home, Now What?

If you’ve recently finished building your new property in the last two years, you may be eligible for money back with the HST rebate in Ontario. The program allows homeowners to recover a portion of their HST spent on construction.

View Full Post
Homeowners, obtain an HST rebate of up to $30,000 today!
get started

Why Choose Rebate4U?

Experienced Specialists

For over 10 years, the Rebate4U team has the knowledge and expertise to help residential property owners throughout Ontario successfully apply for regional HST Rebate programs.

Free Consultations

Our specialists offer complimentary consultations where we review your eligibility to determine whether you qualify for an Ontario HST Rebate so you can proceed with your application confidently.

Millions Awarded

We are able to expertly navigate rebate opportunities, staying up-to-date on the most recent rebate developments and changes in the HST Rebate program to maximize returns. To date, we’ve successfully acquired millions of dollars for clients in total.

Customer Commitment

The Rebate4U team is dedicated to delivering the highest level of customer service, we are here to answer your questions and help you navigate the intracises of your application easily and efficiently.

Cashing-In on the HST Rebate is as Easy as 1-2-3
Contact REBATE4U

Set up a quick, free consultation with the Rebate4U team to explore your HST Rebate options.


Submit your required documents to Rebate4U, and we'll handle your application.


Apply for the rebate and receive thousands in rebates in just weeks with Rebate4U.


We are proud to be working with top Canadian companies

Recent Posts view all posts

What to Do When You've Been Contacted By the CRA for Your HST Rebate

Being thorough, accurate, and honest in your application is essential for a successful HST rebate claim. To ensure that it is accurate, contact Rebate4U. Our team has successfully secured millions of dollars in rebates for our clients, for over a decade.

Read More

How to Cash in on Your Spring Renovations with the Ontario Rebate Program

Learn more about how you can cash in on your spring renovations with the Ontario rebate program!

Read More
We Are Based

101-3185 Bathurst St
Toronto ON
M6A 2B2


Connect With Us

Please, enter a valid value

We are sorry...

But the values you entered are invalid


In celebration of our 3 year anniversary at Rebate4u Inc, we have decided to reduce our fee structure for all new home and renovation rebates including the New housing rental rebate.  

Don't waste your time looking for anyone else to take care of this because we will not be under sold.
Please fill out the form below or call us at 1-800-610-4510

Please, enter a valid value