Back to: Landlord Success: Proven Strategies & Practical Advice for Stress – Free Property Management
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There is a wide variety of property types that you can rent to your tenant.
- Apartment Condos
- Each unit is Independent and Legal
- Monthly Condo Fee is Payable (typically includes: Heat, Insurance, Landscaping, Snow removal, Exterior Maintenance, Parking)
- Typical Rental - $$$
- Town House Condos
- Each unit is Independent and Legal
- Monthly Condo Fee is Payable (typically includes Heat, Insurance, Landscaping, Snow removal, Exterior Maintenance, Parking)
- Typical Rental - $$$
- Attached Single Family Houses (or ½ Duplex)
- Each unit is Independent but attached to another.
- No Condo Fee is Payable
- Typical Rental - $$$
- Detached Single Family Houses Developing (Infill) Area
- Each Home is independent.
- Land included with the building.
- No Condo Fee is Payable
- Typical Rental - $$$$
- Detached Single Family Houses Stable Area
- Each Home is independent.
- Land included with the building.
- No Condo Fee is Payable
- Typical Rental - $$$
- Full Duplex
- Typically Built before 1980
- 2 Attached units.
- Both sides probably have Basements that are rented with the Main Floor
- May or may not have fire code windows in basement.
- 2 gas and electric meters one per side
- Typical Rental - $$$$
- Duplex with Basement Suites
- Typically Built before 1980
- 2 Attached units with 1 or 2 Suites in Basement
- Both sides probably have Basements that are rented separately of the Main Floor
- May or May not have fire code windows in basement.
- 2 gas and electric meters one per side
- Cheaper cost per unit
- Typical Rental - $$$$$
- Legal Triplex
- Typically Built before 1980
- 3 Independent attached units
- Units should meet fire code for windows.
- 3 gas and 3 electric meters one per unit
- Typical Rental - $$$$
- Legal 4 Plex
- Typically Built before 1980
- 4 Independent Attached units
- Units should meet fire code for windows.
- 4 gas and 4 electric meters one per unit
- Typical Rental - $$$$$
- Legal Apartment Building +5 Units
- Typically Built before 1980
- Multiple Independent Attached units
- Units should meet fire code for windows.
- 1 gas and 1 electric meter for the building
- Typical Rental - $$$
- Garages
- Can be included with the property rent.
- Could be rented separately to a separate tenant.
- Typically, utilities are connect to the main property meter
- Typical Rental - $
In this lesson, we'll cover the pros and cons of each type of property to help you make your decision more easily. We'll talk about market pricing current as of course production with notes about fluctuations and increases. We will define the difference between Condos & Freehold Properties and discuss the pros and cons of ownership of these types of properties as a landlord.