For property rental expenses do we prorate things like mortgage insurance for the period of the rental (e.g. 3 months a year).

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As per the Canada Revenue Agency (CRA) the mortgage interest can be claimed but the mortgage insurance is not listed. Please see Line 8710 – Interest and bank charges. 

Common deductible rental expenses include: 

• Supplies, such as bedding and toiletries
• Insurance
• Interest and bank charges
• Professional fees, including legal and accounting fees
• Repairs and maintenance if you hired someone to do the work
• Property taxes
• Travel needed to collect rent, supervise repairs, or manage your properties
• Utilities
• Prepaid expenses

For more information please Contact the Canada Revenue Agency.