Effect of s. 211 election
Generally, when you make this election for real property, a supply of the property that would normally be exempt when you made it will now be treated as taxable.
Certain supplies of the real property will remain exempt even when the election is in effect, such as supplies of long-term residential rental accommodation.
If you are a GST/HST registrant, you will have to collect the GST/HST on all taxable supplies of the real property by way of lease, licence, or similar arrangement. Both registrants and non-registrants would have to collect the GST/HST on taxable supplies of the real property by way of sale unless the purchaser is required to remit the tax directly to the CRA.