Investing in Rentals in Ottawa
As in most metropolitan areas throughout Canada, there is a lack of available rental housing. This can be an opportunity for investors who are looking for stable investments that consistently rise in value. In most instances, as long as the mortgage and maintenance on your investment property is paid by the rent, you will see an average 2% increase year over year. Over ten years that’s 20% on your initial investment. That is better than most investments without the volatility of the stock market. You can look at some statistics from the Ottawa Real Estate Board here.
This is not meant to be a definitive guide to help you make a decision that is right for you. The right decision should be made with a financial adviser, banker and realtor. We are not authorities on investment returns or real estate market research. We are experts in rental housing turnovers and investment property renovations. What we can offer is ideas on different investment property ideas such as if a flip might be better for your goals, or to go with less risky rentals. We can even show you if it’s possible to convert your home into an income property and the opportunities that could bring. Aiore can give you an estimate of how much it would cost to do the work. It is up to you to choose your own experts to help you decide if a real estate investment is a good choice for you.
Risks of Owning a Rental
Our experience in renovations, flips and rental properties can help you find out if a property you are considering, could have expensive, unexpected surprises waiting for you. Aiore can also advise on creative opportunities that can increase your income and reduce your risk. We know the best value in renovations to maintain it’s rental value without breaking the bank. We can also advise you of the best upgrades to increase the rental value and distinguish you from other rentals in the same area. Our goal is to help you keep your rental units occupied because if they are empty they are costing you money.