Owning rental property comes with unique risks—from structural damage and liability claims to lost income when tenants can't occupy the unit. Standard home insurance often doesn’t cover these scenarios, leaving you exposed. Rental (landlord) property insurance safeguards your investment, giving you peace of mind and financial protection. Here’s why every landlord should make it a priority.

1. Protects Your Property from Major Risks

• Property Damage Coverage: Includes protection against fire, vandalism, storms, and other perils—not covered by standard home insurance.

• Includes building structures and any landlord-owned contents, not tenants’ belongings.

2. Liability Coverage for Injuries or Damages

• Covers legal liability if someone is injured on your property (common areas, entrance, etc.).

3. Loss of Rental Income Protection

• If your property becomes uninhabitable due to a covered loss (e.g., fire), this coverage helps recoup rent you’re unable to collect.

4. Includes Optional Add-ons

• Options like water damage, flood, sewer backup, or contents coverage for landlord-owned appliances can be added.

5. Costs Are Manageable and Tax-Deductible

• In Ontario, policies typically range from $800 to $2,500 per year for various property types.

• Canada-wide, basic coverage averages $40–80 per month (~$480–$960 per year), with median quotes around $1,325 a year.

• Landlord insurance premiums are often tax-deductible as rental expenses.
  
  

6. Commonly Required by Mortgage Lenders

• While not legally mandated, lenders often require landlord insurance before financing a rental property.

7. Avoids Gaps from Standard Home Insurance

• Standard homeowner policies don’t cover rental activities—landlord insurance fills that crucial coverage gap.

Final Summary

Rental property insurance is essential—covering property damage, liability claims, and loss of rental income. With affordable premiums and optional coverage additions, the protection far outweighs the cost. It’s not just a smart investment—it’s often required for financing and essential peace of mind.

Frequently Asked Questions

Q: How much is landlord insurance in Ontario?
Landlord insurance in Ontario typically costs between $800 and $2,500 per year, depending on property type—range includes condos, single-family homes, and multi-unit buildings.

Q: What is the best insurance for landlords?
The best landlord insurance provides coverage for property damage, liability, and rental income loss, plus optional add-ons like flood or sewer backup. Choose a provider offering customizable limits, transparent claims service, and solid reviews.

Q: How much is $300,000 in renters insurance?
Renters insurance coverage amounts like $300,000 refer to liability protection limits, not a cost. In Ontario, tenant (renters) insurance typically costs $15–$30 per month (about $180–$360/year).

Q: What is landlord insurance in Canada?
Landlord insurance is a specialized property and liability policy for rental owners. It covers structural damage, landlord-owned contents, legal liability, and lost rental income—not including tenants' personal items.

Q: Is landlord insurance mandatory in Ontario?
No, it is not legally mandatory in Ontario. However, mortgage lenders often require it, and it's highly recommended to protect your investment effectively.

In today’s fast-paced world, convenience is everything—especially when it comes to staying fit and healthy. At Riverside Square, residents don’t need to commute to an external gym or struggle to fit workouts into a busy schedule. The on-site fitness centre is designed to make active living simple, accessible, and motivating, all within the comfort of home.

1. State-of-the-Art Equipment

• Riverside Square’s gym comes fully equipped with cardio machines, weight training stations, and free weights.

• Modern machines ensure residents can enjoy effective, high-quality workouts.

• The setup supports all fitness levels, from beginners to experienced athletes.

2. Convenience of an On-Site Gym

• No need to pay for separate gym memberships or travel to fitness clubs.

• Residents can fit workouts into their schedule—whether it’s before work, during lunch, or late at night.

• Having a gym just steps from your condo unit makes staying consistent much easier.

3. Perfect for Busy Lifestyles

• Downtown professionals save time by cutting out commutes to external gyms.

• Families can squeeze in quick workouts without leaving the building.

• Fitness becomes a natural part of everyday life when the gym is only an elevator ride away.

4. Building a Health-Focused Community

• Shared fitness amenities encourage residents to connect and motivate each other.

• Health-conscious neighbours help foster an active, supportive community environment.

• Riverside Square isn’t just about living—it’s about thriving.

5. Complementary Amenities That Support Wellness

• Beyond the gym, Riverside Square offers a rooftop pool and outdoor spaces ideal for relaxation and recreation.

• Bike storage encourages cycling around the neighbourhood.

• Wellness is woven into the design of the community, both indoors and outdoors.
  

Final Summary

Riverside Square’s fitness centre gives residents the opportunity to stay active, healthy, and balanced—all without leaving home. With state-of-the-art equipment, the convenience of an on-site gym, and a community that values wellness, Riverside Square makes fitness a natural part of everyday living.

Frequently Asked Questions

Does Riverside Square have its own gym?
Yes. Riverside Square features a fully equipped fitness centre, giving residents access to cardio and strength-training equipment without leaving home.

Is the Riverside Square gym included in condo fees?
Yes. Access to the fitness centre is included as part of the building’s amenities, making it a cost-effective alternative to an external gym membership.

What kind of equipment is available in the fitness centre?
The gym includes cardio machines, free weights, and resistance training stations to accommodate different workout preferences.

Are there other wellness amenities at Riverside Square?
Yes. In addition to the fitness centre, residents can enjoy a rooftop pool, outdoor spaces, and bike storage to support an active lifestyle.

How does having a gym in the building benefit residents?
It saves time, eliminates the cost of separate gym memberships, and makes it easier to stay consistent with fitness routines.

Buying a home in Toronto can feel like both your greatest dream and your toughest challenge. Sky-high prices, complicated rules, multiple costs, and stiff competition can be intimidating. This year, though, buyers who are well-prepared and strategic can still find a way—and maybe even thrive. Let’s make sense of the process, step by step.

1. Understand Your Financial Landscape

• Toronto’s average home price hovers around C$1.06 million, meaning you’d need an annual household income of about C$232,000 to qualify comfortably.

• Another estimate puts the needed household income at C$215,488—assuming a 20% down payment and reasonable mortgage terms. So yes—Toronto demands serious financial firepower or creative strategy.

2. Master the Down Payment Rules

• The minimum down payment depends on home price:

  • ≤ C$500,000: 5%

  • C$500K–1.5M: 5% on the first C$500K + 10% on the remainder

  • > C$1.5M: 20%

• These minimums trigger mortgage default insurance if under 20%, adding additional cost.

3. Navigate Eligibility & First-Time Buyer Benefits

• The Home Buyer’s Plan lets first-timers withdraw up to C$60K from your RRSP (C$120K for couples), to be repaid over 15 years.

• The First-Time Home Buyer Incentive (FTHBI) may cover up to 5% for resale and 10% for new builds—but comes with income caps (~C$120K gross) and shared equity terms.

• Additionally, Ontario may offer Land Transfer Tax rebates for first-time buyers.
  
  

4. Get Strategically Pre-Approved

• A mortgage pre-approval anchors your budget, tells agents—or sellers—you’re serious, and frames your search realistically.

• Use affordability calculators (from TD, Ratehub, etc.) to understand what you can afford—good debt-to-income scoring keeps GDS under ~35%.

5. Budget for More Than the Down Payment

• Don’t forget closing costs—legal fees, land transfer taxes, title insurance, appraisals, and more can add 2–5% of purchase price.

• Each of these adds up fast—plan ahead so you're not caught off guard.
  
  

6. Leverage Professional Help

• A real estate agent with first-time buyer experience can smooth out the emotional turbulence and strategic decisions.

• A mortgage broker may help you shop rates, especially with the new higher insured mortgage cap (up to C$1.5M) and 30-year amortizations now available.

Final Summary

Buying in Toronto in 2025 isn’t for the faint of heart—but neither is anything worth doing. If you’re thoughtful, financially organized, and proactive, you can still unlock homeownership. Know what you need to earn, satisfy the down payment rules, use first-time benefits, get pre-approved, budget smart, and lean on trusted professionals.

Frequently Asked Questions

Q: How much money do you need to make to buy a house in Toronto?
On average, a household income of around C$215,000–C$232,000 is required to afford Toronto real estate comfortably.

Q: What is the minimum down payment for a house in Toronto?

• Up to C$500K: 5%

• Between C$500K and C$1.5M: 5% on first C$500K + 10% on remainder

• Above C$1.5M: 20%

Q: How much income do you need to buy a C$400,000 house in Canada?
Using affordability rules (~30% of income for mortgage), you'd need to make around C$96,000–C$100,000 annually to finance a C$400K home.

Q: How to buy a house for the first time in Ontario?

1. Check eligibility (must be a Canadian/Permanent Resident, no prior ownership in past 4 years, etc.)

2. Get pre-approved

3. Save for down payment and closing costs

4. Explore first-time incentives (HBTC, FTHBI, LTT rebate)

5. Make an educated offer—with home inspection included.
   

Q: What is the 4-year rule for first-time home buyers?
To qualify as a first-time home buyer, neither you nor your spouse/common-law partner can have owned a home anywhere in the world in the past four years.