Rental market

[NRGie]

Is it just me or has the price of rental properties jumped up lately? For examples these properties

martindale shack for 2500 (http://www.rentfaster.ca/calgary-house-for-rent/martindale/pets-welcome-dogs-88319?r=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)


falconridge (http://www.rentfaster.ca/calgary-house-for-rent/falconridge/fantastic-falconridge-family-27058?r=aHR0cDovL3d3dy5yZW50ZmFzdGVyLmNhL2xpc3RpbmdzZWFyY2gucGhwP2N1cl9wYWdlPTEmcXVhZHJhbnQlNUIwJTVEPU5FJnR5cGUlNUIwJTVEPUFwYXJ0bWVudCZ0eXBlJTVCMSU1RD1Db25kbyZ0eXBlJTVCMiU1RD1Ib3VzZSZ0eXBlJTVCMyU1RD1Ub3duaG91c2UjTElTVElORzI3MDU4)

Obviously I nit-picked those 2 out of a bunch more that are available, but it seems that the average price has gone up big time since last year.

Any renters on here that would like to share how much they pay (or the approximate range) and what is available to them (bedrooms, utilities, garage, etc...), and quadrant of the city they're in

[Amysicle]

Highland Park NW. 3 Bedroom, 2.5 Bathroom Bungalow w/ 2 car garage @ $1,500/month. Locked in 2 years ago at this rate.

We're moving though and I'm sure the next tenants will be paying more if the market allows it.

Edit: Sweet Jesus! Just looked at a house in Dover for $1,800/month? WTF. $2,395 for a house in FOREST LAWN? I would hate to be a renter looking for a new place these days.

[ercchry]

yup, market is hot... line ups of people willing to pay super inflated prices

[max_boost]

Yep it's hot. $1000+ easily for a basement suite. :D

[Maybelater]

I've found that although the mortgage price is lower in Calgary, the rental costs between Calgary and Vancouver are pretty much on par, which says a lot about this cities rental market. Hopefully multi-level housing is going to drive down prices or at least slow down inflation over the next few years and I hope it ruins a few crooks on the way. $1000 for a decent basement suite is about what i've found typical over the last few years, you just have to look around and you'll eventually be able to find a place that isn't a dump or a rip-off. And don't get frustrated the dumps and rip-offs because they just end up getting relisted over and over again because some people are out of touch with reality. Like the place I once looked at that had a wash basen as a sink and no oven, guy was trying to get $1000.00/m forever and obviously just didn't get it.

My buddies have a 4 bedroom at about $1700.00 and its an alright place. You really just have to look around.

[heavyfuel]

I got a upper 4plex, 1200 sq ft 3 br 1 bath, $1095/mth plus $300ish for cable, internet and utilities. As frustrating as it is I have a landlord who plays by the rules and takes care of his properties, could be worse that's for sure.

[ExtraSlow]

The rental market is great in this town. My buddy has bought four rental properties in the last 12 months. The rent covers the mortgages, utilities, insurance etc, and he's got positive cash flow every month on each one.

Still, pretty crazy to see people paying $2400 a month for a shanty in forest lawn. I pay less than that on my mortgage for a nice 1800 square foot infill. Oh well.

[Asian_defender]

Can anyone shed some light on what they are paying for downtown condos? I'm in the market of buying one as a rental. Would like to see some numbers

[3drian]

I just moved to Calgary this past saturday and I am glad my Buddys roomate just moved out so I didn't have to look for a place, however I hear the vacancy rate is like 1%, I know two other people who were looking for places to rent here in Calgary, one found a super overpriced condo, and the other is still looking, Pretty crazy.

[dubhead]

I've been looking at places in Edmonton the land lords up there are making a real killing, similar market and rent prices as Calgary but quite a bit lower property values.

[pheoxs]

I'm looking at moving to Calgary for a job from Edmonton, what would be a decent area to look at for a rental? Ideally like to live alone but may consider a roommate.

Work is near Memorial/Deerfoot interchange

Don't really know what is decent areas / what is a ghetto for Calgary. Used to Edmonton where basically anything not SW is semi-ghetto ish

[ercchry]

you've got two choices really...

inner city, or suburbs.

young and single... i'd personally do inner city. decent budget? crescent heights/bridgleland

lower budget, ramsey/inglewood or tuxedo

stay west of deerfoot in that area and you are golden

for the burbs... i like the south...

anywhere in the SW for the most part is good... the SE south of glenmore is also good.

[dubhead]

Originally posted by pheoxs
I'm looking at moving to Calgary for a job from Edmonton, what would be a decent area to look at for a rental?

I'm in the same boat but opposite.

As far as Calgary goes I would avoid anything south of Memorial and North of Glenmore and east of Deerfoot this area is all pretty ghetto. I would avoid living in the far south as the commute on Deerfoot looks pretty terrible going that way.

The strip just north of downtown and and south of 16 ave between Deerfoot and Crowchild has a bit of everything A few dodgy crack shacks here and there right next to brand new in fills. This is probably one of the better places to get affordable rent and still be pretty close to downtown. Also nice and close for your commute.

The Beltline around 17th ave SW is were most of the Night Life in Calgary is so this might also interest you. You'll be going against the flow on your commute which is nice. Places tend to be a bit pricier in that part of town though

[ExtraSlow]

Renfrew and Tuxedo are good options.

[ercchry]

Originally posted by dubhead


As far as Calgary goes I would avoid anything south of Memorial and North of Glenmore and east of Deerfoot this area is all pretty ghetto. I would avoid living in the far south as the commute on Deerfoot looks pretty terrible going that way.

why you putting a northern boundary on that area? :rofl:

[dubhead]

Originally posted by ercchry


why you putting a northern boundary on that area? :rofl:

I think that particular area is to be avoided completely, North of that is hit and miss.

[ercchry]

Originally posted by dubhead


I think that particular area is to be avoided completely, North of that is hit and miss.

i think you can judge an area completely by where you must travel for amenities...

the area you outlined? "international avenue" or marlborough mall... yup, both shit

farther north? sunridge... uhhh... yeah :rofl:

[pheoxs]

Thanks everyone, seems like I'll have to do some driving around when I'm down on Saturday and see what I like.

[ercchry]

here are some streets to checkout and see if you like the "vibe"

9th ave inglewood
http://goo.gl/maps/CY8kp

bridgeland
http://goo.gl/maps/JJ1ip

stephen ave
http://goo.gl/maps/9hdQN

kensington
http://goo.gl/maps/Ze9P0

17th ave "the red mile"
http://goo.gl/maps/TIGD8

mission
http://goo.gl/maps/OH6cq

and just for fun, cause its kind of a unique suburban area

mac towne
http://goo.gl/maps/fJr93

[masoncgy]

Man, I remember moving to Calgary in '99 and it was super hard to find a place and thought I was crazy to land a 2 bdrm basement for $550 a month, thinking I was going to be paying too much for rent.

Oh, how times have changed.

There used to be a real Alberta Advantage... ie: big wages and low cost of living. Now, you can just get a good paying job... everything else is up in the air.

[msommers]

$1000/month w/ heat & water for a lower level apartment suite, 1 bed ~950 sq. ft in Crescent Heights. It's a pretty mediocre place, but the location is in 1 of 2 places I want to live in Calgary ideally, and the people that run it are great. I'm not even going to bother moving to a different rental until I buy, as I'll probably be paying more for less, and it was a giant pain in the ass finding a place initially.

I think I got into a place just as the rental market was really starting to kick into high gear. I'd hate to be looking for a place now - being patient isn't even an option. Not sure how long this can last but the prices are definitely (much) higher than average.

How I wish I was an owner right now...

[pheoxs]

Originally posted by ercchry
[B]here are some streets to checkout and see if you like the "vibe"


Much appreciated!

[DeleriousZ]

And if you have pets, good fucking luck. It's insanely difficult to find anything that rents to pet owners at "reasonable" prices.

[ercchry]

ha! i had one lady get so mad when i said it was an extra $50/month if she had a dog

"thats like... $600/year"

uhh, ya? what? you think its going to be the same as a non-pet owner? like, how else and i going to separate the two?

[88CRX]

Holy crap at the current rental prices listed on rent faster!

And I feel for pet owners but why would a landlord risk it when they can only retain one month’s rent value as a damage deposit? $1500 (or whatever the value is) doesn’t cover much for damaged carpet or hardwood if the pet does wreck anything.

[DeleriousZ]

Originally posted by 88CRX
Holy crap at the current rental prices listed on rent faster!

And I feel for pet owners but why would a landlord risk it when they can only retain one month’s rent value as a damage deposit? $1500 (or whatever the value is) doesn’t cover much for damaged carpet or hardwood if the pet does wreck anything.

Yeah, thanks to shitty renters that don't train their pets, all of the good pet owners have to suffer.

Pet deposits don't even come close to covering the damage that can be done by the pets, I've heard stories of 5k+ just in flooring being wrecked by dogs that don't have their nails trimmed etc.

[gkAeris]

i just sold my 1 bedroom condo downtown, i was currently renting it out for $1350, it was in the chocolate building ~518sq ft with a parking stall.

other similar condos were goign for like $1500....

[Cos]

.

[ercchry]

Originally posted by Cos
Took a look on rent faster. My area has something like 2 or 300 town houses. 1 for rent, 1 rented. Both more than my mortgage is.... :D

i dont know how many more times i have to tell you... ;)

[Cos]

.

[8baller8]

Damn, I thought I was the only one who noticed this. I looked on Kijiji and prices have probably went up at least 15% from a year ago. A couple of years ago, I lived in a 2 bdr basement suite for $750. I just saw the same place for $950 on Kijiji. All across the board, places seem to be expensive.

I even saw 1 bdr basement suites in Airdrie and Crossfield (5 min from Airdrie) for $600. Holy crap!:eek:

[max_boost]

Been talking about raising rent but cash flow positive and just seems like a dick move to squeeze it out of the long term tenants??? All have been there for almost 3 years now. An extra $100-200 from each X8 and I can go buy a new car or something lol :rofl:

[8baller8]

Originally posted by max_boost
Been talking about raising rent but cash flow positive and just seems like a dick move to squeeze it out of the long term tenants??? All have been there for almost 3 years now. An extra $100-200 from each X8 and I can go buy a new car or something lol :rofl:

is this a moral issue or greed issue?

Market wont be like this forever, might not pan out if you try to squeeze more money out of them long term.

[Weapon_R]

I won't rent my shed to a pet owner anymore. In the past, "well behaved" pets have stained my carpets and scratched my walls. Now, I don't even entertain the idea.

[ercchry]

wait... you havent raised rent in 3 years?! yeah... i'd call it a "market correction" ...if they dont like it... 1 week max before you get new tenants

[Frankie88]

I am KEEPING the same rent on my 2 condo rentals. $3500 and find out smiliar suites are pricing the same but my locations are better(Eau Claire). Did not see too much vacancy on my tower, so I am assuming the rental market is still hot.

[7thgenvic]

I think things are coming down a bit. There is a ton on rent faster again. Kinda funny the junk people are trying to rent out in Mission/Bankview Inner city. 2Bed/1 Bath complete dive for 2200/month.

[Xtrema]

Originally posted by max_boost
Been talking about raising rent but cash flow positive and just seems like a dick move to squeeze it out of the long term tenants??? All have been there for almost 3 years now. An extra $100-200 from each X8 and I can go buy a new car or something lol :rofl:

$100 for good long term tenants

$200 for bad.

Good tenants are hard to find. I rather forgo a bit of the profit to know it's in relatively good hands.

[ercchry]

i would like to report, the market is WAY hotter now than it was in November

its actually kind of annoying.

[94boosted]

Slightly off topic but where can I go to get good information on how taxes work with a rental property, i.e. what can be written off, what do I have to pay taxes on (I beleive it's only the principal of mortgage being paid off per month and capital gains when selling)...? I'm very seriously considering a rental property.

Also for those of you that do have rental properties, do you do the "landlording" yourself or do you pay a Property Management Company (i.e. Hopestreet)?

[max_boost]

Originally posted by ercchry
i would like to report, the market is WAY hotter now than it was in November

its actually kind of annoying. time for you to pick up a few more.

[kenny]

Originally posted by 94boosted
Slightly off topic but where can I go to get good information on how taxes work with a rental property, i.e. what can be written off, what do I have to pay taxes on (I beleive it's only the principal of mortgage being paid off per month and capital gains when selling)...? I'm very seriously considering a rental property.

Also for those of you that do have rental properties, do you do the "landlording" yourself or do you pay a Property Management Company (i.e. Hopestreet)?

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/bt/rprt/xpns/menu-eng.html

[94boosted]

Originally posted by kenny


http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/bt/rprt/xpns/menu-eng.html

Awesome, thank you :thumbsup:

[dawerks]

Originally posted by ercchry
wait... you havent raised rent in 3 years?! yeah... i'd call it a "market correction" ...if they dont like it... 1 week max before you get new tenants

Max is a nice guy... but it's just business.

'It's immoral to let a sucker keep his money.' Renters are suckers, it's your moral imperative to set them on the correct path by raising the rent.

[civic_rida]

getting 1500 for a 1 bedroom in mission.
Things are good hope it continues.

[max_boost]

Raising them all by 15%. :eek:

[ercchry]

Originally posted by max_boost
Raising them all by 15%. :eek:

:thumbsup:

i said fuck it, furnished or not. im renting it for the same price... still have 7 showings booked for sunday and then its as good as rented.

[heavyfuel]

You guys are all scum. Scum of the Earth. I wish there was a way to expose you all to potential renters to see your disgusting attitudes towards them.

[GTS4tw]

Originally posted by heavyfuel
You guys are all scum. Scum of the Earth. I wish there was a way to expose you all to potential renters to see your disgusting attitudes towards them.

Well I kind of see the point you are trying to make, isnt it a free world? Do renters have to get ass raped? There is a way to "expose" them, if they are such scum then their listings must be much more expensive than everyone else and that will be obvious when looking at rentals.

[masoncgy]

Originally posted by heavyfuel
You guys are all scum. Scum of the Earth. I wish there was a way to expose you all to potential renters to see your disgusting attitudes towards them.

Yeah, I've never encountered a scumbag tenant before. They don't exist.

People buy income properties with long term investment and profit in mind. When the market is tight, prices rise, that's reality. It happens everywhere.

If the market slows down, rental rates drop and those awful income property owners get stung... the stupid ones get burned... don't worry, there's plenty of tat for all the tits in the world of real estate.

[heavyfuel]

http://i478.photobucket.com/albums/rr150/2500calgary/download_zps3e325e45.jpg (http://s478.photobucket.com/user/2500calgary/media/download_zps3e325e45.jpg.html)


Ohhhhh there's scumbag tenants out there, far too many and God bless 'em because that's a meal ticket for me. That doesn't have such a great ring to it, from an owner's point of view now does it?

Exactly.

[BigMass]

It’s no different than the job market in this city. When times are tough employers treat their employees as non-human expendable assets like a computer, a desk, a number on a balance sheet. Then when times are good employers wonder why their employees jump ship and have no loyalty to their company. If humans treated each other with respect instead of just a means to an end, we might move this society forward just a little bit.

[Hallowed_point]

Originally posted by BigMass
It’s no different than the job market in this city. When times are tough employers treat their employees as non-human expendable assets like a computer, a desk, a number on a balance sheet. Then when times are good employers wonder why their employees jump ship and have no loyalty to their company. If humans treated each other with respect instead of just a means to an end, we might move this society forward just a little bit.

^^No kidding..self-actualization is the key to us moving forward as a society.

[ercchry]

Im not here to subsidized losers. You want to buy my rental? Unless you are putting down over 20% you will be paying more per month than im charging for rent. Its MY investment, im not a charity. I am taking a risk, i expect a god damn reward.

[BigMass]

Originally posted by ercchry
Its MY investment, im not a charity. I am taking a risk, i expect a god damn reward.

this is Calgary, there is no risk. House prices only go up

[Xtrema]

Originally posted by heavyfuel
You guys are all scum. Scum of the Earth. I wish there was a way to expose you all to potential renters to see your disgusting attitudes towards them.

Supply and demand. If 15% raise and the rental unit is not rented out within 24hrs, price will go back down.

And you can only raise once a year anyway on current tenants.


Originally posted by BigMass


this is Calgary, there is no risk. House prices only go up

Even if price goes up, it usually only cover repair and refreshes to stay competitive.

Unless you are renting out shit holes for welfare recipients.


Originally posted by ercchry
Unless you are putting down over 20% you will be paying more per month than im charging for rent.

Yup. That's absolutely true.

[heavyfuel]

Originally posted by ercchry
I am taking a risk, i expect a god damn reward.

Wee bit entitled are we?

[Cos]

.

[ercchry]

Originally posted by heavyfuel


Wee bit entitled are we?

Its business... i don't expect you to sink cash into your business then work for free. No different... my choices just set me up to be slightly less involved

[Maybelater]

I understand the whole risk thing, I understand the market too. I also really understand why no landlord would ever want to allow pets, that is why I won't get one, when I am older and have my own place then I'll deal with pet ownership.

Go ahead raise rent for no reason so you can buy a car, and when people are on the streets and begging for handouts because all they can afford is basic living costs, then don't suprised when the government is strapped and raises your tax brackets tax rate. Sure you can raise rent even more to make it work, keep they hyper boom & bust economy going in Alberta, eventually the bubble is going to pop and crash the market here hard.

[Type_S1]

I have been trying to rent my place and holy crap there are some brutal people out there applying for rent. It is quite frustrating having to weed through 30 phone calls and 50 emails a day when half the people don't even read the ad fully and the other half cannot type a proper sentence. You think people would put a little effort in considering how big of a commitment signing a 1 year lease is.

[Type_S1]

P.s. how do you guys screen potential tenants once you feel they are decent enough to rent? I have had mixed reviews from too soft to way too extreme.

[Sugarphreak]

...

[7thgenvic]

It's really interesting reading some of the replies on this thread. A ton of arrogance going on with some of the members that are tenants.

Some people have this opinion... "raise the rent, i deserve this"... where others are saying.... "good renters are hard to find, so why would i push the rent up to put them in a worse position"

I've been in both positions. I'm looking at buying another place and it's HARD to find a normal family that won't damage the house and take care of my investment.

It's just hilarious though to see what some people are trying to rent junk for!

[Maybelater]

If you have good people who are treating your property right I wouldn't raise rent on them. Actually, knowing myself if I stayed in the place but felt like I was getting ripped off I'd probably do little things to damage the property and normally I am a very clean and respectful person and fix anything I damage.

If I was renting a place I'd probably rent it for lower then average to create lots of applicants and then just rent it out to most reliable people out of the group.

[heavyfuel]

Originally posted by Maybelater
I understand the whole risk thing, I understand the market too. I also really understand why no landlord would ever want to allow pets, that is why I won't get one, when I am older and have my own place then I'll deal with pet ownership.

Go ahead raise rent for no reason so you can buy a car, and when people are on the streets and begging for handouts because all they can afford is basic living costs, then don't suprised when the government is strapped and raises your tax brackets tax rate. Sure you can raise rent even more to make it work, keep they hyper boom & bust economy going in Alberta, eventually the bubble is going to pop and crash the market here hard.

Yup, and the less you have the softer the landing. When everybody has to downsize that's a boom for a guy like me. That's how I survived 2008. Amen to greed.

[GTS4tw]

Originally posted by Maybelater
Actually, knowing myself if I stayed in the place but felt like I was getting ripped off I'd probably do little things to damage the property and normally I am a very clean and respectful person and fix anything I damage.

At least you know you are a loser, and admit it.

[Maybelater]

Originally posted by GTS4tw


At least you know you are a loser, and admit it.

I don't have sympathy for people who price gouge. An adjustment would be a result of inflation, a 10%+ rent increase in a year or two on an existing tenant is just taking advantage and a slum lord tactic.

You can shit on people and you'll get shit on right back.

Edit:Truthfully I'd just move, done it before.

[GTS4tw]

Originally posted by Maybelater


I don't have sympathy for people who price gouge. An adjustment would be a result of inflation, a 10%+ rent increase in a year or two on an existing tenant is just taking advantage and a slum lord tactic.

You can shit on people and you'll get shit on right back.

Edit:Truthfully I'd just move, done it before.

Yeah, moving would be good, but you admitted already you "know yourself" and would be a vandal. Do you guys ever think that all the idiots who wreck properties, move out with no notice, dont take care of the yard, etc, are all the reason your rents are going up? Why would someone want to do you a favor by keeping the rent low when you admit that with the perception of being ripped off you will damage their property. You do know it costs money to fix and upkeep a property right? If you can manage to make a good profit off of tenants I say take full advantage, some loser will work hard to even that out for you one day.

[Maybelater]

Originally posted by GTS4tw


Yeah, moving would be good, but you admitted already you "know yourself" and would be a vandal. Do you guys ever think that all the idiots who wreck properties, move out with no notice, dont take care of the yard, etc, are all the reason your rents are going up? Why would someone want to do you a favor by keeping the rent low when you admit that with the perception of being ripped off you will damage their property. You do know it costs money to fix and upkeep a property right? If you can manage to make a good profit off of tenants I say take full advantage, some loser will work hard to even that out for you one day.

Yep see that is why I am talking with amimosity because according to you all renters = loser and taking advantage of people is fine if their losers, get over ypurself. Then you wonder why renters don't respect your property.

[BrknFngrs]

Originally posted by GTS4tw


Yeah, moving would be good, but you admitted already you "know yourself" and would be a vandal. Do you guys ever think that all the idiots who wreck properties, move out with no notice, dont take care of the yard, etc, are all the reason your rents are going up? Why would someone want to do you a favor by keeping the rent low when you admit that with the perception of being ripped off you will damage their property. You do know it costs money to fix and upkeep a property right? If you can manage to make a good profit off of tenants I say take full advantage, some loser will work hard to even that out for you one day.

As much as I don't agree with intentionally damaging a property, a lot of the owners here seem to be missing the point that it's very much a two-way street.

If you assume all renters are complete trash and treat them that way, it's no big surprise you're having to deal with trashy renters. A bit of respect both ways goes a long way imo.

[FraserB]

I think if they fixed the Tenancy Act, there would be more respect from landlords. It seems the way the rules are written now are very biased to the tenant, even when it comes down to non-payment and damages. Make it easier to get rid of the bad apples and keep damage deposits. It would also be nice to see a central database where landlords could keep a record of good/bad tenants and future landlords couls access it prior to renting.

[Type_S1]

Originally posted by FraserB
I think if they fixed the Tenancy Act, there would be more respect from landlords. It seems the way the rules are written now are very biased to the tenant, even when it comes down to non-payment and damages. Make it easier to get rid of the bad apples and keep damage deposits. It would also be nice to see a central database where landlords could keep a record of good/bad tenants and future landlords couls access it prior to renting.

And you just came up with a great business idea...run with it!

Like a carfax for renters!

[GTS4tw]

Originally posted by Maybelater


Yep see that is why I am talking with amimosity because according to you all renters = loser and taking advantage of people is fine if their losers, get over ypurself. Then you wonder why renters don't respect your property.

Youll have to re-read, or read for the first time, what I wrote in the comment you responded to. The response doesnt make sense related to the comment.

[mr2mike]

Yup, I have heard of landlords giving bad tenants a good reference, just to get them to move out peacefully and onto the next place.

[roopi]

Originally posted by Type_S1


And you just came up with a great business idea...run with it!

Like a carfax for renters!

There is one for the US not sure if Canada has one:

http://tenantlandlordratings.com/

[Hallowed_point]

I pay my rent on time, don't party/blast G-UNIT @ 2:00 AM, invite loud sketchy people over, trash places, do midnight moves or any of that other bs. I treat my rental place like a senior citizen. The shittiest part about being a model tenant is you still get lumped in with the losers.

I remember when I moved to Calgary from Vancouver Island during the boom and I was paying $575.00 for one room! in a house with 5 other people. That was a horrible time in my life needless to say.

I expect little from a landlord, fix the broken shit answer your phone/reply to voicemails and we're good. I think the biggest issue in Calgary especially is you get landlords who treat it like a paycheque and they "do everything themselves." This is great when they are actually competent, but a lot of the time as a tenant you end up with waiting forever for substandard repairs etc.

I can't wait to buy my own starter place. Hopefully by this time next year :(

[ercchry]

Originally posted by Sugarphreak


Renting scares me for this very reason, you have so many risk factors involved... housing crash can devalue the property, slow rental periods where it is not generating income, and lastly renters that can do a lot of damage.

I spent a ridiculous amount fixing up my current home, and most of the damage was from pets. Even after that, lots of the door frames and window sills still have bite marks. It is baffling how much damage was done and the cost of repair.

Then there is the whole social side to it, renters by nature are typically people bad with money... which is why they rent in the first place. Worse yet, if you get a renter who is good with money and they are renting for other reasons; and you end up with an irrational nut job that is difficult to deal with.

I don't know, I just don't see renting as my thing.... but seems like you guys are making money, so maybe I should give it a go? haha

see, your real-estate investments are more short term gains type stuff. you have to look at it as long term, all that cash you spent updating your home is good when those upgrades are still current. with a rental you will be holding the property through a period where that shit will go in and out of style 2 or 3 times.

so the key to it would be when you have a fresh new mortgage on the place... make it super nice to attract the upper end of the market, then as time goes by hopefully inflation will put a larger gap between your overhead and the rental value. so when the house is old and outdated you are not worried... then at end of life, refresh and sell.

you have to see it as you do your dividend paying investments. you invest $xx,xxx, you get $xxx per month, and when your investment matures, its worth $xxx,xxx... staying flat over 25 years will give you a really nice return... any increase in value is just an extra bonus.

[got_mike33]

Originally posted by Type_S1
I have been trying to rent my place and holy crap there are some brutal people out there applying for rent. It is quite frustrating having to weed through 30 phone calls and 50 emails a day when half the people don't even read the ad fully and the other half cannot type a proper sentence. You think people would put a little effort in considering how big of a commitment signing a 1 year lease is.

What kind of place are you trying to rent? I am currently looking for a place and having a terribly tough time. Mostly because I am very picky and when I do see a place I like it seems to disappear instantly. That or the landlord never returns calls/emails.

[ercchry]

Originally posted by got_mike33


What kind of place are you trying to rent? I am currently looking for a place and having a terribly tough time. Mostly because I am very picky and when I do see a place I like it seems to disappear instantly. That or the landlord never returns calls/emails.

if this fits the bill, let me know. doing all showings on sunday

http://forums.beyond.ca/st/370088/fr-4-bedroom-sw-woodlands-detached-home/

[TimLacroix]

Originally posted by 94boosted
Slightly off topic but where can I go to get good information on how taxes work with a rental property, i.e. what can be written off, what do I have to pay taxes on (I beleive it's only the principal of mortgage being paid off per month and capital gains when selling)...? I'm very seriously considering a rental property.

Also for those of you that do have rental properties, do you do the "landlording" yourself or do you pay a Property Management Company (i.e. Hopestreet)?

The best place or person to discuss tax benefits on a rental property is an accountant.

Essentially you will pay taxes on income after expenses etc.

If you would like to discuss further... please do not hesitate to PM or call 403-648-1541