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CSA TRAVEL INFORMATION GUIDE
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Are you planning to insist on the unit passing a home inspection, performed by a registered
professional home inspector of your choosing, as a condition of sale/purchase?
Regulations
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What are the rules concerning pets, flags, satellite dishes, clotheslines, patios, parking and
various other bans?
Restrictions
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Are there any restrictions on renting out your unit?
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Does the association have to approve any individual that you wish to rent to?
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If the community is designed for those aged 50+, are there any restrictions regarding renting
your unit to someone under 50, and/or have your under-50 family visit for an extended
holiday?
Reason for Sale
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Why is the home or condominium for sale – owners moving, serious illness, bankruptcy, etc?
Safety
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What is the crime rate in the general vicinity outside the condominium or gated community?
Noise
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What is the noise level in the area on a weekday during the day, a weekday in the evening as
well as on a weekend? Check all three times because visiting a great property on a weekend
may not reflect what the noise level will be on a regular work day.
Leasehold/Freehold
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Is the unit you are looking to purchase a freehold or leasehold property on title?
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If you wish to sell are you obliged to sell it back to the association at a prescribed price or are
you free to sell it to anyone you wish without any outside approval of the new purchaser?
Renting out your Property
For those people considering purchasing a seasonal property with the notion of renting it out for the
remaining months of the year, it will be important to check any local zoning restrictions (as well as
park management rules if living in a planned community) that may limit or even prevent you from
renting out your seasonal property for the time you are absent.
It is also important to check with your home insurance broker to ensure that you have adequate and
appropriate insurance coverage. Most homeowner insurance policies do not provide coverage in cases
of a third-party rental arrangement. It may be necessary to change or upgrade your coverage.
Remember that any foreign rental income you received is fully taxed as income in that country. See
the separate section Renting Out Your Property While You Are Away.
Purchasing a property is a major decision and ongoing commitment, speak to a qualified lawyer
as well as accountant or income tax preparer about your possible tax liability and any allowable
deductions you can claim.