Retirment Asset Allocation RRSP Graphing Calculator RRSP Tax Savings Calculator After-Tax Returns Calc. According to a June 2000 study by N. Barry Lyons Consultants, nearly one-quarter of all condominium apartments in the GTA are rented. Condo developers dislike investors flipping new condo units they don't own. Any breach gives developers the unilateral right to kill the deal. This ban also extends to renting units until title changes hands.
Some developers give investors an out in their contracts.
Occasionally investors can rent their units during interim occupancy, provided the developer controls the rental process. While not perfect, it's far better than a total prohibition. Most new homes and condos today are sold for one all-inclusive price, builders paying the GST and collecting the GST New Housing Rebate transferred by purchasers. However, the rebate only extends to buyers who acquire properties as the primary place of residence for themselves or a relation. Finally, selling tenanted condo units after condo registration is no simple task, despite recent legislative changes.