QA SERIES: Understanding Income Properties

14 September 2017
Life and the City

This blog post is the second of a four-part series in which we address the various questions or concerns we've been hearing a lot about in recent months. 

Have a burning question about the Toronto market, real estate in general, or about our Team? Ask us!

Have you ever considered owning a rental property?

You likely already know that it's a fantastic way to supplement your income and help pay your mortgage, but many people are at a loss when it comes to the process of acquiring one - what to look for, how to set it up, how to maintain it, etc.

Investing in real estate can generate a lot of profit - but make no mistake, successful income properties require a considerable amount of research and number crunching, as well as a thorough understanding about what kind of investment you're able make, what kind of landlord you want to be, and how much time, effort and money you’re willing to put into your investment.

We each own several rental properties throughout the GTA and have helped many of our clients purchase their own, so we're no strangers to the world of income properties!

Secondary suites (basement or in-law suites), dedicated rental homes (with multiple units) and condos are the most common types of income properties, and we can help you understand the pros and cons of each type so that you can make the most informed decision possible.

We can also recommend certain areas based on your budget, and help you step-by-step through process of finding, purchasing and maintaining a successful income property.