From the blog...

Owning Two Homes after my HHT

What happens if I own two homes after my HHT?

Hopefully this is not a situation you find yourself in when you relocate to Ottawa. However, if you have purchased a home and closed on that property there are some important things to note:

Actual and reasonable expenses associated with maintaining two residences are reimbursed provided that the former residence remains unsold, vacant and actively marketed. The sale of a residence is not considered final until the transfer of ownership occurs.

Temporary Dual Residence Assistance (TDRA)

Core benefit

TDRA offsets expenses associated with dual residency for a period up to six months, such as:

• Interest charges on a first mortgage (or on a second mortgage if there are no charges on a first mortgage);
• Taxes (i.e., property, school);
• Utilities(i.e.,electricity,heating,alarmmonitoring);
• Property maintenance (such as lawn cutting, snow removal, and minor maintenance);
• Insurance (house insurance including additional insurance costs for empty residence); and/or
• Rental of a mobile home pad

Custom benefit

Expense beyond six months.

Personalized benefit

When all custom funds have been expended.

I hope this information is of value to you if you are military client buying or selling a home in Ottawa. Always feel free to get in touch if you have any questions about your relocation into or out of Ottawa.

Thanks,

Chris