shoud i sell?

[thx1038]

I have a condo in CityPlace. I'm leaving Toronto, should I sell my unit or resnt it out? What do you think?

 

[Malvern1]

Honestly, my advice is too find a good managment company, pay the small fee and rent the place out, they will handle all of tenanting, such as rent collections, repairs, and in most cases even finding tenants. Prices are usually reasonable and it lets you continue holding a prime piece of real estate in your portfolio without having to be in town. That being said with all of the condo activity in that part out of town, just how hard is it too find tenants these days?

 

[Observer Walt]

It's not hard to find tenants for a well-located property, which would include City Place. However, be realistic about asking price. Rental rates are not going up as much as they used to, as some "potential" tenants are buying instead. People can do the math as to what point buying becomes cheaper than renting.

Ask a real estate agent to find you listings of some recent rentals in your building or comparable nearby ones.

 

[Ed007Toronto]

Rental rates are not going up as much as they used to, as some "potential" tenants are buying instead.

What they are finding is new buildings are holding their own when it comes to rent. Its the older buildings that are suffering. Women find newer buildings more attractive because they have laundry insuite. They don't like the old school laundry rooms in the basement. Feel them to be unsafe.