Quotations by Brian Persaud

The Sauder School of Business is a great source of up-to-date information on population and demographic trends across Canada. The Canadian Mortgage and Housing Corporation also regularly updates its website with current information on population and demographic information for would-be buyers. In large cities, such as Toronto, Montreal and Vancouver, population appears to grow very slowly if one only looks at percentages, but the actual numbers are in fact consistently high. In these cities, this means that population growth typically exceeds the total building capacity that can be delivered, thus causing prices to appreciate significantly as demand far outpaces supply. [2012] - Brian Persaud

Walkable neighbourhoods are safer. Crime rates are much lower on busy city streets because there are more eyes preventing crime. Emergency vehicles take longer to travel to neighbourhoods with suburban cul-de-sacs than to those streets in a traditional urban grid. If health-care facilities are within walking distance of people's homes, they are more likely to be used for preventive care. Walkable cities also bring in more high-paying technology-based jobs. [2012] - Brian Persaud

The vacancy rates published by CMHC are a useful barometer for an area, however, they only measure a sample of units, and then only for buildings with three or more units. This means that large condominiums, even if they have a huge number of units available for rent, typically aren't counted in the official CMHC numbers. [2012] - Brian Persaud

Facebook offers a free marketplace where you can list properties for rent. You can also promote your listings by sharing them on your wall or by purchasing ads within Facebook. MLS has the ability to list properties for rent, but it's not used in every area. [2012] - Brian Persaud

A rental application must be completed in its entirety: a. Get prospective tenant's SIN, to pull a credit bureau report and to populate a lease agreement, including legal names, as verified by a driver's license. b. Get income and employment information along with references. Usually if this cannot be obtained, or is incomplete, there is a bad story behind the tenant. c. Have the prospective tenant provide a copy of their Equifax credit bureau, or use a service like www.rentcheckcorp.ca, which can also search landlord and tenant board past judgements on "professional tenants" that may have skipped out on previous landlords. [2012] - Brian Persaud

Most owners when renting their unit will go the easy route and rent it unfurnished and ask for a minimum one-year lease. But there can be many advantages to renting the unit furnished. Furnishing your unit requires a large capital outlay that can be $10,000 or more, depending on the furnishings and size of the condo. Not only would you be bring furniture, but also the accessories, art, lighting, kitchenware, etc. The benefits of doing so can translate into higher rents. Corporate clients, travellers and individuals in between homes are willing to pay the premium for a furnished condo. The downside of a furnished condo can be the short lease terms. While the rent may be higher during months of occupancy, you may also have many months of vacancy where you have to carry your mortgage costs. It's important to evaluate your market and the demand for furnished condos to determine if this would be the right route for you. [2012] - Brian Persaud