Real Estate Blog - Renting

Why Fall is a Great Time to Purchase an Investment Property

When it comes to buying an investment property, timing can make all the difference. While many investors focus on the spring or summer markets, fall presents a unique opportunity for savvy buyers to capitalize on several advantages. Here are key reasons why fall is an ideal time to purchase an investment property.

1. Motivated Sellers: Sellers with homes still on the market in the fall are often more motivated to close a deal before the holiday season or winter. This urgency may translate into price reductions or incentives like covering closing costs. Investors can leverage this motivation to secure a better deal and potentially acquire a property below market value.
2. Less Competition: By fall, many homebuyers have already completed their…

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The Benefits of Investing in Rental Properties

In the world of investment opportunities, few options can match the long-term financial benefits and stability offered by rental properties. Whether you're a seasoned investor or a first-time buyer looking to make your money work for you, investing in rental properties can be a lucrative venture. Here are some of the advantages of owning a rental property: 

1. Steady Stream of Income: One of the most enticing benefits of investing in rental properties is the opportunity to generate a steady stream of income. By leasing out your property to tenants, you can enjoy a monthly rental income that can supplement your primary earnings or even replace them over time. But be warned: It's not passive income. Being a landlord can be a lot of work,…

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How to Rent Right

Are you looking to rent? We have some tips for you!

1). Make a list of non-negotiables and stick to it. Decide before hand what you are willing to spend each month on rent and utilities in order to narrow down your search, only look at places that are pet friendly if that is something you need, if you do not like basement suites, add that to your list, etc! Be flexible, but stick to what you absolutely will not negotiate on and don’t waste your time searching for places that do not fit that criteria.

2). Location is the most important part of whatever space it is you decide to rent. For most people, location is the make-or-break feature of any potential space. Narrow your search into looking only for places by a bus stop, near your place of work…

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Open Season: Renting

August is one of the busiest times of the year for rental properties. This because one major portion of renters are students preparing to go back to school in September. With so many people looking for affordable housing in Calgary, renters and landlords need to be informed. 

Renting is a great option if you are not planning permanent settlement in the location or if you cannot yet afford to purchase a home. Renting gives you the freedom to negotiate terms (such as payment, length of stay, etc.) and allows you to "shop around" until you find a location you want to stay in permanently. 

If you are planning to permanently live in the location and can afford a down payment on a house and a mortgage, we highly recommend you look into purchasing a…

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To Rent or To Buy

People are faced with two options when it comes to home sweet home: buying or renting. For some the choice is easy: they can either afford to purchase a property or they can’t so they choose to rent instead. However, in some cases people are on the cusp of either signing a new long-term lease or making a down payment on a home and beginning to pay a mortgage. What are the pros and cons to each decision? Read on so you can make an informed decision about something that will have a massive impact on your future (no pressure)!

Pros to Buying Your Own Property:

• You get to start building up good credit by making monthly mortgage payments.

• You are investing in something long-term that one day you can sell to get your money back (plus…

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3 Tips for Being A Good Landlord

As the economy is preventing more buyers from owning their own home during these unprecedented times, many are turning to rentals for a place to live. Despite facing their own challenges, landlords in Calgary, Alberta are hoping to capture this market. 

Being a landlord is a fantastic side-business to have, because it allows you to make the most out of the property (or properties) that you own. Renting out space to a tenant is an excellent way to pay off your mortgage, make extra money for other endeavors, and keep your property occupied and, hopefully, well looked after. There are downsides to being a landlord too, but here are three tips for renting out your home: 

1. First you need to make sure that the space you want to rent is habitable.…

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The Value of A Secondary Suite

A great way to make money out of an investment property or a recreational property is to rent it out. The rental market is big in Calgary, because many people seek temporary residence here before buying. Calgary also has a massive student population, many of which need spaces to rent for the school year and summertime. This means that if you have a nice property, you can easily make money that will help you repay what you spent on the space.

Secondary suites will add tremendous value to your property should you sell one day, and are a fantastic way to help pay off your mortgage faster. There are many rules and regulations you need to be aware of if you want to rent out a legal suite, so make sure you do some research!

It is easy enough to find…

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Finding The Perfect Roommate

Can you believe that summer is almost over? In two weeks classes will be starting and schedules will go back to normal. While here at Team Ken Richter we are determined to soak in every stray ray of summer available, we’re gearing up to help prepare you for the fall. After all, it will be here before you know it.

One thing that happens at the end of summer is students move back into the city. As students begin pouring back into Calgary to begin a new semester, the rental market spikes. Not only must renters find a new property, but in many cases people need to find new roommates. While there are some single occupancy properties in Calgary, the majority of suites for rent are designed for two or more individuals. Picking a roommate is a crucial…

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New Tenants Rights

Last night "approximately 125 people were forced out of a building in Kensington ... after it was determined it was at risk of collapsing... Residents at Kensington Manor had only 15 minutes to gather their belongings before leaving" (Global News Calgary). As the tenants and landlord of this building grapple with this potentially devastating situation, we are all reminded that renting is not always picture-perfect. 

Many people pursue investment properties that they can rent as a form of supplementary income. Real estate is a wonderful place to invest your money and (potentially) see a massive return. However, renting a property is not as simple as finding a tenant and signing a lease. 

Others turn to rental properties as a place to live before they…

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April 2017 Statistics

April was another great month for Calgary real estate! We have continued to see stability in the market, leading to better prices and inventory levels. The success of the real estate market relies heavily on the economy, so as long as our economy continues to get stronger, so will market conditions.

CREB® president David P. Brown had good news to report this month: “More jobs [in Calgary] means less uncertainty for people who are sitting on the fence [about entering the real estate market]. There also tends to be fewer people who need to sell when employment improves, and that can prevent inventory gains and further price reductions in the market.”

CREB® president David P. Brown adds, “it’s a good scenario for sellers who are entering a spring…

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