Income Property Blog
Are we heading for a real estate crash in Toronto?
Should you wait until the market calms down before you buy?
A Guide to Toronto Laneway Housing & Suites
Imagine if you could turn your rear garage into a rental suite to bring in a few extra dollars each month. Not only is your garage for your car, bike, or old stuff but it can also now be for people. In an effort to combat the current housing crisis, the City of Toronto does…
How to determine the financial viability of an income property
In the City of Toronto, income properties often trade at around a 4% cap rate. The return on investment on these properties varies though as this is dependent on how much of a deposit is originally put down. The differences between cap rates and R.O.I. (return on investment) are important for landlords to understand.
How to choose the right tenant for your rental property
There is no foolproof method for finding tenants that will ensure your success. In my experience with many landlords, there are a few things that you can do to maximize your chances of making the right decision when it comes to picking new tenants:
Toronto Vacancy Rate at an All-time Low
It has been very challenging for renters in Toronto to find places to live over the first six months of this year. Some are saying that the vacancy rate is at an all-time low. Experts suggest that the current rate may now be under 1% which means that 99% of all the spaces available for…
John Tory’s Plan for More Affordable Housing
Toronto mayor John Tory is looking to combat the housing shortage in Toronto. His three-point plan is being implemented to try and create 40,000 new social housing units over the next twelve years. The plan unveiled is as follows: First, the city has identified 10 more sites where it owns land that can be redeveloped…
Changes Coming to The Ontario Real Estate Act
CEO of the Ontario Real Estate Association, Tim Hudak, introduces a new program to modernize the current real estate act. (REBBA)
Paul’s Ten Tips for Buying an Income Property in Toronto
During 20+ years in Real Estate Paul has worked with hundreds of clients to buy, sell and lease duplexes, triplexes and multiplexes all across town. Here are his top tips for buying an income property.
2019 Ontario Rental Increase Guideline
The Ontario government recently announced that the allowable increase that landlords can charge their tenants this year is 1.8% of the base rent. Some years have seen larger increases, and some smaller, but this figure seems to be right in line with increases that we have seen over the past few years. Rental increases are…
Should All Prices Be Disclosed in a Real Estate Bidding War?
The Toronto real estate market has been plagued with a lack of supply for some time now. This had led to a sellers’ market where there is often more than one bid on a property that is listed for sale. Multiple offers are commonplace and are often expected by sellers on many downtown properties.
TREB Market Statistics for January 2019
The Toronto Real Estate Board (TREB) has just released the overall sales numbers for January 2019. There were 4,009 sales in January 2019, up 0.6% compared to January 2018.On a seasonally adjusted basis, sales were up 3.4% compared to December 2018. There was a total of 9,456 homes listed in January 2019, up 10.5% per cent year-over-year. The average selling price was $748,328. On a…
How to Get as Much Rent as Possible for your Suite
When your tenants vacate your rental suite that is the ideal time to make changes and improvements so that you could potentially charge more rent to the new tenants. You are allowed to charge whatever the market will bear so you should do everything possible to maximize this income. These maintenance and renovation tips will…