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Understanding the qualifying residential unit for NRRP Rebate

Understanding the qualifying residential unit for NRRP Rebate

Like many government incentives and rebates, the guidelines for the NRRP Rebate (also referred to as New Residential Rental Property Rebate) can be somewhat confusing and often difficult to understand. This is especially true with regard to the qualifying residential unit for NRRP Rebate, making it a challenge to prepare and submit an application.

For the typical landlord, it’s key to understand about the qualifying residential unit for NRRP Rebate so that an application can be correctly and properly submitted.

Clearly, all the conditions for the NRRP Rebate must be satisfied in order to be compliant. What’s most important for landlords is to be familiar with the different types of residential rental units that qualify for the NRRP Rebate. And it’s equally important to understand the terminology and definitions that refer to a qualifying residential unit for NRRP Rebate.

Residential Unit

A residential unit is one that is leased as a residence, or will be leased as a place of residence. In a multi-unit property (like a hotel, boarding house, or senior residence) other requirements apply. Landlords purchasing a property to rent out must occupy as a primary residence for one year.

Single Unit Complex

For the purposes of rebate compliance, a single unit residential complex is one that contains not more than two separate residential units (like a duplex). A single unit residential complex will generally include adjacent land that contributes to the enjoyment of the residential unit.

Multiple Unit Complex

This is a residential complex that would contain more than one separate residential unit, but would not include a so-called condominium complex. For the purposes of a rebate, the definition of a multiple unit residential complex would not include a duplex (as described above).

Residential Complex

This defines a building or part of a building with one or more residential units, in addition to land area necessary for the enjoyment of the building as a residence. A residential complex would not include a building or part of a building that is used as a hotel, motel, or boarding house.

Condominium Unit condo building apartment unit toronto

A residential condominium unit is defined as a residence in a building with separate units that are designated as a registered condominium. A residential condominium unit also includes any common areas as well as land that legally relates to the individual ownership of the unit.

Getting help with the qualifying residential unit for NRRP Rebate

As complex as the rebate process might appear to be, the team at Rebate4U can take the stress and pressure away from any application (particularly for those who are first time landlords).

Rebate4U has years of experience with government programs, and regular contact with various government departments. Paperwork is submitted correctly, and everything is timely.

With Rebate4U, landlords receive professional services right from the application, to the follow-up, to the refund cheque. Every effort is made to get the highest possible rebate.

To find out more about qualifying for the NRRP Rebate, contact the rebate experts at Rebate4U by calling at 1-800-610-4510 – or visit the company website at www.rebate4u.ca .

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