To have or Not to Have: The Basement Apartment


on General, investment property, Landlord, real estate investment, rental, tenant, Toronto April 12th

rental houseWhen and where are basement apartment a good idea?

If you are a first time buyer and you want to use the extra income from a basement apt. to help pay down your mortgage, a basement apt can be great.

If you have purchased an investment property in a trendy downtown location that has a basement apt that will attract good tenant then this will also work. The apt is likely close to public transit so parking is not an issue. There will be a choice of tenants applying so you can choose one that has good credit without having the unit vacant for a long period of time.

In these two scenarios that basement apartment can really work for you. Read more »

Interactive Map of Housing Prices in Toronto


on Condo, Landlord, Toronto January 6th

Check out this fascinating interactive map from the Globe and Mail. You can see how housing prices have changed in Toronto Neighborhoods.

http://www.theglobeandmail.com/life/home-and-garden/real-estate/exclusive-how-much-are-homes-in-your-toronto-neighbourhood/article4520994/?from=6929120

 

The Residential Property Management Advantage


on Condo, General, Landlord, Property Management, rental, tenant, Toronto December 3rd

The most important aspect of property management is bringing in a good tenant that will take care of your property and pay the rent on time. If you are not successful in getting a good tenant  it can be a very stressful tenancy sometimes  resulting in extensive damage to the property or months of lost  rent plus the costs of legal fees and eviction. Read more »

Choosing Investment Property that will Attract the Best Tenants


on Condo, Landlord, Property Management, rental, tenant, Toronto November 26th

by Lucille Yates

Once you get past the financial considerations, next is deciding on the location and type of investment property to purchase. The thing to think about is who will your tenant be.  What type to tenant would bring you the best income and would take care of the property?

condo development in Toronto

Downtown Toronto Condos

Often it is the location of the property that attracts a particular type of tenant.  In my experience most tenants tend to be under age 35, often single or couples without children.  These are people starting out in life, they want to live where their friends live.  They want to be close to their work, especially if they are young professionals putting in lots of hours to get established in their field. They want convenience of amenities close  to home.  They often want to eat out so the proximity of restaurants and grocery stores  is important. Read more »

Furnished versus Unfurnished


on Condo, Landlord, rental, tenant November 8th

By Lucille Yates

Residential Property Management Inc. has rented hundreds of residential properties during 25 years of doing business in Metropolitan Toronto. As a property manager, I often get enquiries about renting furnished properties.  In my experience the benefits of renting a property unfurnished far outweigh those of renting furnished. Read more »

Toronto’s Hot Condo Market


on Condo, Landlord, Property Management, rental, tenant, Toronto November 8th

Although this article may be a bit of an exaggeration, it does reflect the hot rental market in Toronto.  The current rental market is the best we have seen in years. Both Condo and houses are renting quickly. Read more »