While are margins are slimmer we are able to self manage saving the management fees, have
fewer vacancy costs AND our expenses are lower.
Not exact matches
The rising
cost of homeownership is pushing more people to rent, and the
vacancy rate in Toronto has tightened over the past
few years to 1.3 per cent, according to CMHC.
I'd like to share a
few examples of new measures we have rolled out over the past year to continue to drive down maintenance and
vacancy costs for our clients.
The rising
cost of homeownership is pushing more people to rent, and the
vacancy rate in Toronto has tightened over the past
few years to 1.3 per cent, according to CMHC.
Lower
vacancy rates mean lower
costs and
fewer headaches for landlords and real estate agents.
However, based on the (albeit
few) properties I have analyzed, once we purchase a property and rent the other unit, it is likely to lower our monthly housing
cost by around $ 200 - $ 300 / month (that's a conservative estimate) compared to our current rental situation - and that's factoring
vacancy, saving for future repairs / maintenance, etc..
You should add on [list]-10 % of your revenues as
vacancy cost (turnover will run a
few days / weeks a year most likely), -10 % for routine maintenance like broken windows, torn rug, painting during turnover..., and - another 10 - 20 % for long term maintenance stuff.