Are executive condo rentals viable?

[revelations]

The wife owns a condo in Renfrew (just up Edmonton Tr. north of DT on the first hill) that were renting out right now.

Its a landlords market and were wondering if its worth setting up the unit as an executive rental unit given that its so close to DT.

Has anyone gone this way? Thoughts?

[Frankie88]

Have you checked any similar suites in rentfaster?

[revelations]

Yes we looked into it and it seems to make sense right now .... just wondering if someone has any experience with this long term.

[JAYMEZ]

Yup its worth it right now.. Everyone I work with has executive rentals.. They are all doing very well. They don't sign anything less than a year.

[kaput]

.

[revelations]

^its a suite/house/condo where all the ameneties are there for you when you move in. Basically you just supply the food and your own clothes.

[revelations]

Just a heads-up. We did the exec rental situation for a few months with the wifes condo. It was a major pain dealing with tenants every month (phone calls, etc.) as we were renting short term (1-3 months).

If we had to do it again, 6 months - 1 year would be our goal.

We definitely made money with it, but the headaches werent worth it IMO.