Canada · Purchase planning

Rental property closing costs calculator

Know what to budget beyond the down payment. Estimate transfer taxes and closing costs, then keep your cash reserve separate.

Your purchase

All amounts in CAD. Defaults are illustrative, not quotes.

Automatic rates cover a wholly residential resale with one or two residences, bought personally by a Canadian citizen or permanent resident. No exemptions or rebates. Other ownership, mixed-use and multi-unit cases require manual professional estimates.

Estimated total initial cash

$153,175.00

Down payment + transaction costs + your reserve. This is not the final balance payable to your lawyer; any deposit already paid forms part of the down payment.

Down payment: $130,000.00
Provincial transfer tax: $9,475.00
Toronto municipal tax: $0.00
Alberta registration charges: $0.00
Toronto administration incl. HST: $0.00
Legal, inspection and title insurance: $2,700.00
Adjustments and other costs: $1,000.00
Transaction costs subtotal: $13,175.00
Cash to close (before deposit credit): $143,175.00
Initial reserve — not a closing fee: $10,000.00

Ontario and BC registration/disbursement charges must be included in your legal quote or other costs. In Alberta, enter the registered charge, which may exceed the mortgage advance. BC assumes the price equals fair market value. A reserve remains your cash, not an expense.

A location makes a real difference

For an illustrative $650,000 resale rental with 20% down, Ontario provincial land transfer tax is $9,475. A City of Toronto purchase also incurs $9,475 in municipal tax and $115.89 administration including HST. BC property transfer tax is $11,000 at the same taxable value. In Alberta, registering that property and a $520,000 mortgage costs $1,270 under the model. Add professional costs, adjustments and reserves to each; these are not complete purchase budgets.

What this estimate excludes

This is a planning tool, not a legal quote. Automated schedules are for standard, wholly residential resales containing one or two residences, personally purchased by Canadian citizens or permanent residents. No first-time-buyer relief is assumed. New-build GST/HST, foreign-buyer taxes, corporations, trusts, exemptions, mixed-use properties and unusual transfers require manual advice. Buying eligibility is not assessed. BC uses fair market value at registration; confirm that the entered price is an appropriate tax base.

The down payment is equity, not a transaction expense. Your deposit is credited toward it rather than added again. Reserves remain available cash after closing. If adjustments produce a credit, obtain the net closing statement from your lawyer; this conservative budget accepts only amounts payable.

Sources and review

Reviewed 13 October 2026. Toronto uses rates effective 1 April 2026. Alberta registration uses $50 plus $5 per $5,000 or part thereof for each applicable transfer and mortgage registration.