Can International student do property rental business?

[RAymondm]

Hi. Folks.

I wonder if I can do property rental business in Ontario with my study permit visa. (will graduate in this Aug and will apply for work permit visa)
I do have enough budget to purchase the apartment only for rental business purpose.
My concern is since study permit visa allows max 20h of parttime, would my rental business consider as a formal business that requires work permit visa?

My wife has work permit visa, so if my visa status doesn't allow to do rental business then should I buy apartment under my wife's name?

Thank you.

 

[aircanada]

Hi. Folks.

I wonder if I can do property rental business in Ontario with my study permit visa. (will graduate in this Aug and will apply for work permit visa)
I do have enough budget to purchase the apartment only for rental business purpose.
My concern is since study permit visa allows max 20h of parttime, would my rental business consider as a formal business that requires work permit visa?

My wife has work permit visa, so if my visa status doesn't allow to do rental business then should I buy apartment under my wife's name?

Thank you.

You can still buy it to your name but have your wife rent out the apartment, I don't see an issue with that.

I know you need a license to do real estate work but if it's your personal property... should be ok.

I am not sure if renting out a property you own is active work, so you should be fine (especially if you're buying a single unit and not a whole building with multiple dwellings) but I'd ask a lawyer before getting into an investment like that.

 

[canuck78]

Also you will need to look at the tax implications and the downpayment needed for a rental property. Also things like insurance, etc. Depending on your home country the requirements might be very different.