Leasing Out Your Home
In many cases, it makes good sense to lease your home. In fact, over 30% of residential properties in Ontario are leased/rented. Turning your home into an investment property could be a good financial move for you, for many reasons:
You’ll generate regular rental income while continuing to pay down debt and earn equity in your home.
You’ll diversify your investments, which may reduce your overall risk.
You could potentially see an increase in the value of your home (capital appreciation).
While it can be a wise move on your part, there is a lot of work involved. I can provide the expertise, resources and support you need to successfully lease out your house or condo. Whether it's screening for the right tenant, handling the paperwork or helping you set the optimal rental rate, these are all services I can provide. Also, If you don’t have the time or interest in managing the property, tenants and maintenance needs, I can provide solutions to ensure your home is well taken care of, while enjoyed by the right tenant.
Also, keep in mind The Residential Tenancy Act heavily governs and regulates residential leases and rentals here in Ontario. It is primarily designed to provide protection for residential renters. So, being aware of and understanding what you are obligated to provide when leasing out your home will be to your benefit. Providing solid experience and familiarity with the RTA is something you could count on from me, as we work together to lease out your home.