Additional Services for Non-Resident Owners
At Paradigm Management we take care of all government regulations, rent collection and tax deductions for non-resident owners. We also assist in completing and filing all necessary forms to the CRA.
Taxation For Non-Resident Owners
if you are a non-resident landlord renting out property in Canada, you are required to withhold and remit non-resident tax of the gross rental income each month. Taxes can be deducted on net renal income once an NR6 is submitted and approved by CRA. The payer has to pay the tax on or before the 15th day of the month, following the month the rental income is paid.
We at Paradigm Management offer the complete solution for non-resident owners as their Canadian agent. We deduct the withholding tax and submit to CRA each month, we file the NR6 and get it approved from CRA in order to deduct withholding taxes at the net income. Paradigm Management will provide you with an NR4 slip that shows the gross rental income, and non-resident tax withheld for the year. We can also assist in filing the section 216 return at the end of the year through our accountants at a small fee if you choose to do so.
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Why should I choose Paradigm Management Inc.?Our office is centrally located in Downtown Toronto at 102-270 Wellington St. W, close to most of the properties we manage for our clients. We are highly experienced in property management with over 100 properties in Downtown Toronto.
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What kind of properties do you manage?Paradigm Management specializes in rental condominiums in Downtown Toronto. We do also manage rental homes and condos in and around the GTA as well.
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As an owner, how often will I get my monthly check? Can you use direct deposit?"Not only can we, but we prefer to pay owners through direct deposit. Your account is credited within 5 business of our receiving the rent payment from the tenant.
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Do you handle maintenance requests?Yes! We coordinate and follow-up on all maintainance and repair requests through our approved trades people at very competitive rates.
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Do owners and tenants ever interact directly, or is all communications handeled through the property manager?"We handle all communications with the tenants, which includes serving of notices in extention of lease. Tenants are not given access to the owners information without express permission from the owner.
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What kind of lease do you use?We use the Standard Form Lease, as directed by the Landlord & Tenant Board. We do include additional conditions to protect both the owners and the tenants.
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Does your property management agreement give you the exclusive right to sell my property?Absolutely not! But if you do decide to sell, we can certainly assist you on that matter.