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The real estate agent service provided through REOCA is free for buyers.
In Ontario, the commission for real estate agents is typically paid by the seller when a property is purchased.

Mortgage brokers may charge a fee depending on the type of mortgage you receive.

As of now, Canada’s Foreign Buyer Ban has been extended until January 1, 2027.
Originally set to expire in 2025, this regulation prohibits non-Canadians from purchasing residential property in Canada — including in Ontario and Toronto — until the new deadline.

There are some exceptions to this rule.
For more details, we recommend speaking with a REOCA-certified real estate agent or a licensed lawyer.

The required down payment depends on your income and the price of the home.

• For homes under $500,000, the minimum down payment is 5%.
  Example: For a purchase price of $499,999:
  $499,999 × 0.05 = $24,999.95
• For homes between $500,000 and $999,999, you need to pay:
  5% on the first $500,000 and 10% on the remaining amount.
  Example: For a purchase price of $999,999:
  $500,000 × 0.05 + $499,999 × 0.10 = $25,000 + $49,999.90 = $74,999.90
• For homes $1,000,000 or more, the minimum down payment is 20%.

The required documents for a mortgage can be prepared with the help of a REOCA-certified mortgage broker.
Our brokers will guide you through the process and help you gather the documents needed for the mortgage program that best fits your situation.

온In Ontario, buyers must pay the Ontario Land Transfer Tax (OLTT) when purchasing a property. The tax is calculated as follows:

• Amounts up to and including $55,000: 0.5%
• Amounts over $55,000 up to and including $250,000: 1.0%
• Amounts over $250,000 up to and including $400,000: 1.5%
• Amounts over $400,000: 2.0%
• Amounts over $2,000,000, for properties with one or two single-family residences: 2.5%

In Toronto, an additional Municipal Land Transfer Tax (MLTT) also applies.
You can find more details about both OLTT and MLTT through the links below:

• Ontario Land Transfer Tax Info
• Toronto Municipal Land Transfer Tax Info

We recommend speaking with a REOCA-certified lawyer to calculate the exact amount based on your purchase price and location.

Property tax in Ontario varies depending on the municipality, property value, and local tax rates.

On average, residential property tax rates range between 0.5% and 1.5% of the assessed property value per year.

For example:
If your home is assessed at $800,000, and the local rate is 1%, your annual property tax would be $8,000.

We recommend checking with your local municipality or a REOCA-certified real estate agent for an accurate estimate based on your target property’s location.

In Canada, capital gains tax is exempt when selling your primary residence.
However, if the property was purchased as an investment, capital gains tax will apply upon sale.

• If your profit is $250,000 or less, 50% of the gain is taxable.
• If your profit is over $250,000, 66.67% of the gain is taxable.

We recommend consulting with a REOCA-certified accountant for personalized advice based on your tax situation.

When selling a property, a standard 5% commission fee applies for real estate professional services.
Additionally, capital gains tax may apply depending on the profit made from the sale.

For more details, we recommend downloading the REOCA app and submitting a Realtor Inquiry through the platform to get personalized guidance.

Yes, it is possible to purchase a property using gifted funds, such as financial support from family.
However, the lender may require a gift letter confirming that the funds are not a loan and do not need to be repaid.

A REOCA-certified mortgage broker can help guide you through the process and ensure all required documentation is properly prepared.

When using gifted funds to purchase a property, most lenders will require the following:

• A gift letter signed by the donor, confirming the funds are a gift and do not need to be repaid
• Proof of transfer, such as a bank statement or wire confirmation
• Identification from the donor (in some cases)

A REOCA-certified mortgage broker can help you prepare these documents and meet lender requirements.

Tenants do not pay a broker fee when renting through REOCA.
Once a lease is finalized, the landlord covers the real estate agent’s commission.
This reduces financial burden for tenants and ensures the agent works to secure the best possible terms for you.

In Canada, rental agreements typically begin with a one-year lease.
While two-year or short-term rentals may exist, they are relatively uncommon.

Standard tenant requirements include:

• Income: Ideally, monthly income should be 3 to 4 times the rent amount.
  For example, if the rent is $2,000, a monthly income of $6,000 to $8,000 is preferred.
• Credit Score: A score of 700 or higher is ideal.
  If your credit score is 700+, landlords typically do not require advance rent payments.

These criteria help ensure that tenants have the financial stability to maintain the lease and the property responsibly.

Advance payment is not a mandatory requirement.
However, if a tenant does not meet standard qualifications — such as income or credit score — advance rent may be considered as a last resort to strengthen their application.

While offering advance payment can increase your chances of securing a rental, it may also lead some landlords to decline the offer, depending on their policies.
For this reason, we recommend discussing this option carefully with a REOCA-certified agent before proceeding.

When moving into a rental property, you should be prepared to cover the following costs:

• Security deposit
• First and last month’s rent
• Key deposit

If advance payment is required based on your application, a REOCA-certified real estate agent will explain the details.
This helps you understand and prepare for all expected costs before signing the lease.

If you are a student, the following documents are typically required when applying for a rental:

• Student visa
• Letter of Acceptance (LoA)
• Photo ID (passport or driver’s license)
• Guarantor information
• Credit report

Since most students do not have employment income, eligibility is usually determined based on the financial status of a parent or guarantor.

A REOCA-certified real estate agent will guide you through these requirements and help you prepare your application properly.

If you are employed, the following documents are typically required when applying for a rental:

• Proof of income showing monthly income is 3–4 times the rent
• Credit report
• Photo ID (passport or driver’s license)
• Work permit, Permanent Residency (PR), or Canadian citizenship
• Recent pay stubs
• Employment verification letter

These documents help demonstrate financial stability and creditworthiness.
A REOCA-certified real estate agent will guide you through each requirement in detail.

If a guarantor is needed, they will typically be asked to provide the following documents:

• Credit report
• Photo ID (passport or driver’s license)
• Proof of Permanent Residency or Canadian citizenship
• Recent pay stubs and employment verification letter
• Proof of relationship to the tenant

The guarantor’s credit and income are reviewed because they are legally responsible for rent payments if the tenant is unable to pay.

A REOCA-certified real estate agent will provide detailed guidance on how to submit these documents properly.

We recommend starting your rental search at least two months in advance.
This gives you more options and enough time to book showings, especially when properties are still occupied — in which case 24-hour notice is typically required.

Many people begin looking one month before, and in urgent cases, some need to move in immediately.
Whenever possible, it’s best to allow yourself extra time to find the right place without pressure.

If you would like to schedule a rental showing in Canada, please contact a REOCA-certified real estate agent.

For vacant units, showings can usually be arranged quickly.
However, if the unit is currently occupied, a 24-hour notice is required by law before the property can be shown.

Working with a certified agent ensures a smooth and respectful viewing experience.

When choosing a rental location, it’s important to consider what matters most to you — such as school districts, commute times, nearby amenities, or lifestyle preferences.

We recommend discussing your priorities with a REOCA-certified real estate agent, who can use their professional knowledge and local experience to help you find a home in the area that best suits your needs.

Yes, REOCA-certified real estate agents specialize in a wide range of commercial property services, including:

• Retail units
• Stand-alone buildings
• Student housing
• Mixed-use (zoning) properties
• Other commercial investment properties

Our agents provide expert guidance throughout the commercial purchase process, tailored to your investment goals.

Yes, REOCA-certified commercial agents can help you find the right space for your business needs — whether you’re looking for an:

• Office,
• Retail store,
• Restaurant,
• Martial arts studio,
• Warehouse,
  or other types of commercial space.

We assist clients in securing locations based on business type, size requirements, budget, and zoning suitability.

In Canada, zoning regulations define how a property can be used — such as residential, commercial, employment zones, or institutional use.

Each municipality has its own zoning by-laws and naming systems, which means that permitted uses can vary widely depending on the city and property type.

Before starting any business, it’s important to:

• Check the property’s zoning designation
• Understand permitted and restricted uses
• Consult the city for potential variances or rezoning requests, if needed

A REOCA-certified commercial agent can help you navigate local zoning laws and ensure the property aligns with your intended business use.

Absolutely. Our REOCA-certified commercial agents can help you secure the right space based on your business needs, budget, and operational requirements.

Whether you’re looking for:

• A full-floor office,
• Private executive suites,
• Conference rooms,
• Shared workspaces, or
• Facilities with amenities like parking and break areas — we’ll find the ideal setup for your team.

We also assist with rental arrangements for relocated employees, ensuring a smooth transition for both the business and your staff.

It’s difficult to provide an exact average, as commercial lease rates in Toronto vary widely depending on location, square footage, and business type.

In many cases, rent is calculated per square foot (SQ FT) annually, though some properties may list rates based on yearly totals.

To get an accurate idea of what fits your needs, we recommend sharing your preferred location, budget, or business requirements with a REOCA-certified commercial agent.
They can quickly suggest properties that match your criteria and guide you through the leasing process.

Yes, it is possible to obtain a mortgage for commercial real estate.
However, mortgage products and lending criteria vary by lender, which makes working with an experienced mortgage broker especially important.

A REOCA-certified mortgage broker can help you compare options and guide you toward the most suitable financing solution for your commercial purchase.