10/09/2026
Keeping your old house and renting it out sounds simple. It’s manageable — but five things change the day a tenant moves in, and every one of them is easier to handle before than after.
🏦 Your lender — most mortgages were approved on the basis that you’d live in the home. Tell your lender first, and check whether renting it out needs their consent.
🛡️ Your insurance — a home you don’t live in needs a separate policy, and an undisclosed tenant can void the coverage you think you have.
📋 Your condo corporation or strata — in most provinces, bylaws can restrict or ban rentals, set minimum lease terms, or require approval.
🔑 Your tenant — screening, a proper lease, deposit rules that vary by province, and your province’s rules on notice, repairs, and ending a tenancy.
⏰ Your time — a few hours a month in a quiet stretch, and whole days when something breaks or someone moves out. The 2 a.m. water heater call is real.
Nothing on that list is a reason not to do it. All of it is a reason to do it on purpose.
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