by Kevin Leung
on Saturday, September 6th, 2014 at 1:23pm.
A well chosen rental is a great investment to add to your investment portfolio. With the vacancy rate in the city at 2.01% according to the City of Calgary 2014 Census results, right now is especially a good time to be owning a rental.
There are many things to consider when buying a rental, and many great sources of information. For example, take a look at the City of Calgary Census results for overall vacancy rates or by ward to see which area you would like to consider. Or the vacancy rate by structure type to see what kind of property you would like.
Take a look at what other people are listing their rental for on the market to get a gauge of expected income. One popular rental listing website is Rentfaster, where you can filter by area, structures, number of bedrooms to help with your research.
Also, Canada Mortgage and House Corportation has some great resources for Landlords. Including a Rental Market Report for Calgary released every Fall.
We also created a quick Cashflow analysis spreadsheet to help our clients assess potential properties. Because wouldn’t it be great to find a property that is cash flow neutral or even positive? This way after your initial purchase investment, the tenants will help you build equity and take care of the bills associated with the property. Contact us if you are interested in a copy of the spreadsheet. Let us know in the message you are looking for a copy of the cash flow spreadsheet, and your email address so we can send you are copy for your use.
Buying a rental property is a big purchase decision. We have the expertise and experience to help you navigate the whole process.