Is the rents on rental-properties high enough to pay for the costs of buying those rental properties?
- Favorite places to visit while surfing the web.
- what type of burglars sneak into apartment or homes while the owner is there?
- What do apartments check for when you fill out an application?
- APARTMENTS !!!!!!!!!?
- How much should i charge to clean a 2 bedroom apartment?
- Can I apply for food stamps if I live in student housing?
- What is the maintenance fee for a 2 bedroom timeshare?
- Why are apartments putting INDUSTRIAL/COMMERCIAL carpets into apartment homes now?
- what type of foundation do I have at my client’s duplexes?
- Does anyone know any cheap apartmens or duplexes for rent?
- Veritas on what type of burglars sneak into apartment or homes while the owner is there?
- Lindsay on what type of burglars sneak into apartment or homes while the owner is there?
- Paul in San Diego on what type of burglars sneak into apartment or homes while the owner is there?
- ibu guru on What do apartments check for when you fill out an application?
- Help Is Here! on What do apartments check for when you fill out an application?
- prusa1237 on What do apartments check for when you fill out an application?
- reenzz on What do apartments check for when you fill out an application?
- mar c on What do apartments check for when you fill out an application?
- HIGH SHAMAN on APARTMENTS !!!!!!!!!?
- ★skyblue on APARTMENTS !!!!!!!!!?
In the area that you live in, is the rents really high but the costs of buying the homes fairly low?
I hear that a $85,000 house in Sudbury Ontario can rent out for $3,400 per month, and that just blows me away!
Is it the same where you are living?
Well, of course that depends upon so many factors. Generally, the higher the house prices, the higher the rents because that is the only way for the landlords to have the tenants cover their mortgage payments and other costs. What you have heard about in Sudbury, if true, is almost certainly a student rental property that houses 7 or more students. Students can be a challenge to manage but can be a profitable source if selected and managed well. Most towns and cities have zoning by-laws that limit the number of unrelated people that can share a house before it is considered a rooming house. Once the property crosses that threshold into being considered a rooming house, the landlord is inviting a whole lot of expensive modifications, even if the zoning allows for that use. There are fire regulations (interconnected smoke alarms, sprinklers, fire separations), electrical regulations, parking space requirements and in some areas, student lodging house licences.
The key is to investigate thoroughly and crunch the numbers before you buy so that you will already know if the property will be profitable before you own it.
Well, of course that depends upon so many factors. Generally, the higher the house prices, the higher the rents because that is the only way for the landlords to have the tenants cover their mortgage payments and other costs. What you have heard about in Sudbury, if true, is almost certainly a student rental property that houses 7 or more students. Students can be a challenge to manage but can be a profitable source if selected and managed well. Most towns and cities have zoning by-laws that limit the number of unrelated people that can share a house before it is considered a rooming house. Once the property crosses that threshold into being considered a rooming house, the landlord is inviting a whole lot of expensive modifications, even if the zoning allows for that use. There are fire regulations (interconnected smoke alarms, sprinklers, fire separations), electrical regulations, parking space requirements and in some areas, student lodging house licences.
The key is to investigate thoroughly and crunch the numbers before you buy so that you will already know if the property will be profitable before you own it.
References :
Experienced landlord – 3 properties including a student house.