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Sell condo or rent it out?
- Thread starter dtmt
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EL72
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That is impressive in Toronto, depending of course on when exactly they were purchased. Our situation on the west coast is a little more extreme; I'm not sure you could find a cash-flow rental in the lower mainland right now and certainly not in the downtown core.Originally Posted by TheHoff
They were all purchased in the past 5 years but that really shouldn't be surprising. Even in Vancouver where prices/sf are higher than TO, landlords have too be able justify their cost of capital or they can't be in business. Rental prices have to keep up. Perhaps if you're buying a new 3 bdrm condo for $1,000/sf, you can't get $12k/month for it but most rental properties in good neighborhoods will trade for between 15-20X annual revenues so unless the lot value is enormously high and they are torn down to build single-family homes, there is only so much they can be worth.
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