Frequently Asked Questions

RentYVR.ca Luxury Rentals & Property Management Company specializes in high end rentals in West Vancouver, North Vancouver, and Downtown Vancouver. Our expert rental agents answer your questions below. If you have other questions, please contact us at 778.888.8862 or [email protected]

If you are a property owner and are looking to rent your property, please see the "Landlord FAQs" below.

If you are looking to rent a property, please see the "Tenant FAQs" below.

Landlords FAQs

Non-Resident Tax FAQs

Disclaimer: this is only for reference purposes. For professional advice please consult with a qualified Tax Accountant.

What information does RE/MAX RentYVR.ca need to setup my Non-Resident Account?

Owner(s) names, Owner(s) income share percentage, Canadian tax ID (if applicable, ITN or SIN #), owner’s country of residence, Home address

Why am I being taxed?

As a Non-resident of Canada, you must pay taxes on income you receive from sources in Canada as per Canada Revenue Agency (Canada Revenue Agency) rules.

Why is the agent, RE/MAX, withholding taxes from me?

All income generated from Canadian sources are subject to Canada Revenue Agency rules for a non-resident. This rule is stated clearly in Part XIII of Canada Revenue Agency’s tax regulations. Your rental income is your source of income generated from Canada. It is the responsibility of RE/MAX to withhold this tax (25% gross) and remit this amount to Canada Revenue Agency.

Why is it 25% gross rent? Where did the 25% come from?

Canada Revenue Agency regulations, Part XIII, tax rate is 25% gross. An exception is if there exists a tax treaty between Canada and your home country.
Why am I taxed on my gross and not my net income? Why does it not factor in my expenses for the upcoming year.

In this situation, please advise the non-resident to consult with a Tax Accountant. Non-residents have the option to file a tax return. There is an option to file a section 216 tax return. Non-resident owners must file if they pay taxes and want to claim a refund for expenses.

For perspective; Much like the T1 process, we file taxes, outline expenses, etc. Canada Revenue Agency provides a notice of assessment and may or may not provide a refund.

My Accountant informed me that the remittance deducted at source by RE/MAX does not have to be 25% gross but can be 25% of net rental income. How can I do this?

This can be done by filing a NR6. The NR6 is a form that binds the Canadian payor (RE/MAX) as responsible for the owner’s remittances. The owner must be committed to filing a S216 on time. However, it carries significant risks for all parties in particular RE/MAX if the owner does not file their taxes on time. The NR6 is essentially outlining the non-resident owner’s responsibility and commitment to file a S216 return.
The NR6 is a form that must also be accompanied by estimating expenses and owner calculated net rental income . Once the NR6 is approved by Canada Revenue Agency and provides the S216 notice of assessment to RE/MAX, the agent can then remit on net 25%. Should the owner fail to file the S216 return or fail to file on a timely basis, Canada Revenue Agency will demand that the agent (RE/MAX) pay any difference owing as well as penalties and interest on the difference of the gross 25% and net 25%.

Why is there an additional 10% gross on the NR 6?

This is a RE/MAX policy for owners wanting to file a NR6. As noted above RE/MAX is at risk if an owner fails to file on time. As a result, RE/MAX instituted policies to mitigate any losses.
The gross 10% is fully refundable and acts as a ‘deposit’ to ensure owners file on time. Once an owner files on a timely basis they will receive a refund for this 10%. If an owner fails to file on a timely basis any arrears and penalties will be deducted from this 10%.

The following procedures were instituted by RE/MAX:

Annually on June 1st, RE/MAX requests that owners provide proof that the S216 was filed for the prior year (If the owner has had a NR6 submitted for a prior year). Where an owner fails to provide the S216 Notice of Assessment as proof of S216 filing, RE/MAX will begin to deduct 25% on the gross amount of income. RE/MAX will assume that 25% on gross amount was supposed to be deducted for prior period and as a results will deduct any differences from that period. Keep in mind that the prior period deductions will have been on the net amount.

I am a non-resident, have been renting my property, have not paid Non-Resident Tax, and now want to work with RE/MAX RentYVR.ca - What do I do?

There are two options to address this.

1. Setting up a non-resident account:
The other option is to file the S216 for missed months. The owner should consult a Tax Accountant unless the owner is qualified to prepare and review this on their own. They will need to prepare a S216 tax return as well as have funds available to pay required taxes on income received in prior years.
RE/MAX will need to set up the Non-Resident account with the Canada Revenue Agency as soon as possible and begin remitting. There will also be penalties and interest applied to late payments for prior months when the owner did not submit monthly remittances. The information needed to set up all new non-resident accounts is outlined in the operating policy. Please send the following information to RE/MAX RentYVR:

Owner(s) names, Owner(s) income share percentage, Canadian tax ID (if applicable, ITN or SIN #), owner’s country of residence, Home address

2. Filing S216


What if we don’t remit Part XIII taxes to Canada Revenue Agency?

There is a deadline for payment for each time we pay rental income to non-resident owner. Thus, it is crucial that we establish an account with Canada Revenue Agency to avoid the issues mentioned above. This is why it is critical to provide all required information on a timely basis and in accordance with the operating policy.
Canada Revenue Agency will apply penalties and interest that are significant to all parties based on the amounts not remitted. This is the reason for the 10% mentioned above. RE/MAX will begin to deduct the additional taxes owed from the 10% and the owner will not receive this 10% refund.

For situations where the 10% cannot satisfy the amounts of taxes owed to Canada Revenue Agency, upon sale of the property, Canada Revenue Agency can recover any amounts outstanding.

Payment is due the following month from when income was collected. For example, we receive rent on the 1st of the month. The Canada Revenue Agency remittance will be due on the 15th the following month.
Why is it important to provide non-resident information as soon as the Property Management Agreement is signed?

Why is the start date of rental tenancy important? Payment is due the following month from when income was collected. For example, we receive rent on the 1st of the month. The Canada Revenue Agency remittance will be due on the 15th the following month. Why do we need to collect non-resident information such as home address and country of residence? RE/MAX must file a NR 4 and information of this nature for all non-resident is required to complete the filing. This information is required by Canada Revenue Agency. Please see the operating policy for information pertaining to the timely submission of required information Property Managers must submit for NR 4s. For more information please go to the Canada Revenue Agency’s website.


Tenant FAQs


I am interested in renting a property, but there are not any properties available on the date I am looking to rent. What should I do?

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