Do Subletters pay bond?

Do Subletters pay bond?

If it is agreed that the sub-tenant will pay a bond, the head-tenant must: give the sub-tenant a receipt on payment. deposit the money with Fair Trading within 10 working days (unless the bond is paid in instalments – contact Fair Trading for more information about this).

Do you pay tax on subletting?

Income tax If you currently pay tax, then the Government’s rent-a-room scheme means that you can earn a sum of money from subletting, tax-free. This is halved if you share the income with your partner or someone else. You can either let out a room or an entire floor of your property.

What happens when a rental property is sublet?

When a rental property is sublet , the original tenant moves out of the rental property and a new tenant (the subtenant) moves in to take his or her place but the original lease stays in place. Often, the original tenant expects to move back into the unit.

How does a tenant get a sublet in BC?

Under B.C.’s tenancy laws, a tenant does have to get written approval from the landlord before assigning a sublet, but it’s very difficult for the landlord to withhold that permission.

Can a tenant sublet a condo for a profit?

Vancouver property manager David Wong is frustrated his tenant is trying to sublet a high-end condo at a profit, and there’s nothing he can do about it. David Wong rented out this high end condo in Vancouver’s Fairmont Hotel for $4,500 each month, only to find out his tenant re-rented it for a profit. (David Wong)

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