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WHAT IS CONFIRMATION OF RENTAL INCOME?
Confirmation can be proven three different ways:
- T1 General (amount claimed on taxes)
- Signed current lease agreement
- Economic rent letter
WHY DO LENDERS REQUIRE A CONFIRMATION OF RENTAL INCOME?
Lenders require confirmation that the rental income declared on the application is accurate.
WHERE CAN I FIND MY CONFIRMATION OF RENTAL INCOME?
Your confirmation can be obtained from your tax documents for your T1 General by scanning your current lease agreement. If you require an economic rent letter, I would be happy to obtain that on your behalf.
The information and services offered on this Site are provided with the understanding that neither Dominion Lending Centres Inc., nor its suppliers or users are engaged in rendering legal or other professional services or advice. Although we strive for accuracy, timeliness and completeness, information quoted is not guaranteed and may change at any time and the information you obtain at this site is not, nor is it intended to be, legal advice. If you require specific advice regarding your own situation please contact me for consultation.
