Rental income is income you earn from renting property that you own or have use of. You can own property by yourself or with someone else. Rental income includes income from renting a house, apartments, rooms, space in an office building, or other real or movable property.

You can receive rental income in the form of either:

• cash or cheques
• kind (goods or commodities instead of cash)
• services

You can deduct any reasonable expenses you incur to earn rental income. The two basic types of expenses are current expenses and capital expenses.