Whatever type of host you decide to be, renting your condo on AIRBNB can be lucrative. Clearly, your place has to be clean and tidy – with essentials like clean bedding, towels, and bathroom basics. Once rented, AIRBNBÂ manages all of the financials, takes their service fee from the total, and ensures that you get paid. The company has substantial insurance coverage that protects the condo and the contents. There’s also liability insurance, and of course, the option to secure extra coverage as you might from an independent service provider.
Renting your condo on AIRBNB requires a serious commitment. Needless to say, the company has established standards that address safety issues, emergency procedures, fire prevention, and even privacy concerns. But as the host, you also have relevant responsibilities – like ensuring that heating and cooling are working; notifying the neighbours about the rental; and making certain that condo rules are being followed. It’s also important to address miscellaneous things like pets, noise, parking, and any specific house rules that may apply.
AIRBNB hosts must also ensure that tax or license requirements be accounted for (like Goods and Services Tax – now referred to as HST). Â This might include special permits or zoning regulations that require attention. And while all of this may pose administrative headaches at first, doing it right may save some bigger headaches down the line. As for income tax on a rental property, this too is the host’s responsibility. In fact, if a condo has been renovated, retrofitted, or upgraded for rental purposes, there may be government cash rebates.
At Rebate4U, in house specialists can help to sort out the ins and outs of HST Residential Rental Rebates. Depending on circumstances, homeowners who have purchased a condo with a view to renting out may qualify for a rebate on the HST paid when the condo was first purchased. Here, Rebate4U can help file the HST Rental Rebate Application. As it is, many condo owners don’t even know that there’s an HST Residential Rental Rebate available from government – and this where Rebate4U can be helpful, with the right rebate specialists.
The truth is, applying for government rebates can be time-consuming and confusing, particularly when dealing with government agencies. Rebate4U has processed thousands of applications over the years, making for a process that is streamlined and stress-free. And while every situation will be different, the objective at Rebate4U is to strive for the best possible rebate for each client. The team educates CanadiansÂ about the most current rebate programs available, and services clients with the special applications and added administration.
The team at Rebate4U keeps up to date with newly introduced government rules and regulations so that clients can realize the maximum in rebates that they are entitled. Clients can be assured of transparency, communication, and service excellence when dealing with the team. Customer service is personal and attentive; service reps are skilled and experienced; and everything is done under on roof. At Rebate4U, the focus is on 100% client satisfaction.