Montreal Real Estate Blog » Renting

Would you like to rent your property for more money?

Sveta Melchuk — Thu, 15 Dec 2011 15:20:11 +0000

Posted by: Sveta Melchuk. Founder of Home Staging Montreal

Professional staging/decorating for rental of a condo or an apartment is becoming more and more in demand. If you are looking for executive rental income for your unit, the property has to be presented accordingly.

Some of the apartments are quite new and others require some cosmetic renovations before decorating for rental. Some clients need help with managing the total project from beginning to end and taking care of things such as:

Make the list of what needs to be updated
Purchase all the materials, tiles, light fixtures, etc.
Provide renovation team to do the work
Provide cleaning team
Purchase all furniture
Purchase all accessories
Purchase linens, towels, even dishes if required
Decorate the apartment for rental

Decorating for rental involves some clever and creative thinking. We want it to look nice but we don’t want to spend a lot. We have to keep in mind the necessities for someone renting the apartment but also be practical. The unit has to look inviting but remain neutral in look and color.

We need to take into consideration our market and potential clientele we want to reach and stage/decorate accordingly. But chances are that our tenants will be less careful with our furnishings, so we need to plan for that as well. For example, I recommend darker color furniture and carpets as they will stay cleaner for a longer time. We want to include the minimum amount of furniture but it has to be comfortable for living. In general, the objective of decorating for rental is the same as that of home staging; creating a great first impression and allowing our potential tenant to see himself/herself living in that space.

As an example, please view a recent “decorating for rental” project by Home Staging Montreal team, where we first started by fixing up and repainting the condo and had it cleaned. Then we went shopping for vertical blinds, new furniture and accessories and we put it all together for a simple but effective urban look.

Here are some before and after pictures, to give you an idea:

If you would like to discuss with us how we can help you decorate for rental, give us a call or email us.
Our contact info is displayed just below this message. Looking forward to your comments!

Posted By: Sveta Melchuk. Founder of Home Staging Montreal, a Montreal firm specializing in Home Staging and Interior Redesign. Simple and effective solutions, to help you sell your property faster and for more money. Call Sveta at: 514-482-9776 http://www.home-staging-montreal.com/

CMHC: National rental vacancy rate slightly higher

Deya Bautista — Thu, 11 Jun 2009 17:17:15 +0000

According to this article, the CMCH found a slight increase on rental vacancy. It’s just 0.1% increase from last year, not a lot really. Montreal doesn’t appear in the list of cities with high vacancy rates. Also, the rental prices for 2 bedroom apartments have also increased accordingly. Here are the details:

The average rental apartment vacancy rate in Canada’s 35 major centres increased slightly to 2.7 per cent in April 2009, from 2.6 per cent in April 2008, according to the spring Rental Market Survey(2) released today by Canada Mortgage and Housing Corporation (CMHC).

“Completions of condominiums, which continue to attract renter households looking to move into homeownership are decreasing demand for rental housing. Also, some of the completed condos compete with rental units if they were purchased by investors who then rent them out. These two factors have put upward pressure on the vacancy rate,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “However, this has been balanced by higher levels of demand for rental housing.”

Major centres with the lowest vacancy rates
Québec City 0.6 %, Regina 0.7 %, Winnipeg 0.9 %, Saguenay 1.1 %, Trois-Rivières 1.1 %.

Major centres with the highest vacancy rates
Windsor 15.5 %, St. Catharines-Niagara 5.3 %, and Abbotsford 4.8%.

Average Monthly Rentals
“The highest average monthly rents for two-bedroom apartments in new and existing structures were in Vancouver ($1,154), Calgary ($1,106), Toronto ($1,093), Edmonton ($1,059), and Victoria ($1,043). Of all the major centres, these five were the only ones with average rents at or above $1,000. The lowest average monthly rents for two-bedroom apartments in new and existing structures were in Saguenay ($494), and Trois-Rivières ($512).

Overall, the average rent for two-bedroom apartments in existing structures across Canada’s 35 major centres increased 2.9 per cent between April 2008 and April 2009.”

Source: CHMC via Newswire

Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/

STOP Paying Your Landlord’s Mortgage!

Danuta Levitzki — Mon, 13 Apr 2009 13:16:58 +0000

Lets begin this article by stating: Renting is wasting money!

All those payments you’ve made at the end of each month, you will never see them back again. Ever.
But your landlord will, once he/she decides to sell the property.

If you remain a tenant, you are making your landlord rich, but you do nothing for yourself. But if you put those exact same dollars into a house payment instead of rent, you create “equity”…value that you own, that later can send your children to college, finance the start-up of your own business, or pay for your retirement.

For example:

If you are currently paying $1,000 a month for rented housing, then over the next three years, your landlord will effectively have reaped $36,000 of your hard earned cash! You’re paying his mortgage when you could be building equity in your own property.

What if I don’t have the money to buy a home right now?

There are many loan programs available that offer low and no down payment options. Some programs permit gift money as a down payment, and often sellers are willing to make a contribution to your purchase if they want to sell the home quickly. On top of that, the city of Montreal offers a Home Ownership Program that provides financial assistance to help first-time buyers.

Become your own landlord and build up future financial security. I’ll even show you easy strategies to speed up the pay-off of your home without making extra payment.

Call me to discuss your specific needs and we’ll find the program that’s right for you. We have a variety of low down payment and no down payment programs available.

Posted By: Danuta Levitzki. Executive Manager of Mortgage Agency at HYPOTHECA Ac Accredited. With over 10 year experience, Danuta specializes in residential and multi-unit mortgage financing. Offering the lowest interest rates and finest mortgage service in Montreal, Qc. For home purchase pre-qualification, mortgage refinance, renewal or debt consolidation please visit www.RateDirect.ca http://www.hypotheca.net

Renting in Québec: La Régie du logement

Deya Bautista — Mon, 14 Apr 2008 11:00:50 +0000

What is the Régie du logement ?

Translated literally, and in the vernacular, La Régie du logement du Québec is the Quebec Rental Board. Here is a little definition excerpt to illustrate what the significance of it is:

“The Régie du logement is a specialized tribunal that has competence in residential lease matters. Its mission consists in deciding the applications that have been submitted within the framework of simple rules of procedure that respect natural justice; in informing the citizens on their rights and obligations related to the lease so as to avoid that conflicts occur due to the ignorance of the law; in promoting conciliation between landlords and tenants.

The Régie also keeps a watch, in certain circumstances, on the conservation of the housing stock and, in those cases, makes sure that the rights of the tenants are protected.”

The Régie’s laws and regulations cover all principal/permanent residential rental premises, including; the lease of a room, Mobile home placed on a chassis and land intended for the installation of a mobile home. However, the legislation does not apply to the following:

the lease of a dwelling as a vacation resort;
the lease of a dwelling where more than 1/3 of the total floor area is used for non-residential purposes;
the lease of a room in a health or social services institution (except pursuant to Article 1974 of the civil code of Quebec);
the lease of a room in a hotel establishment; or
The lease of a room situated in the principal residence of the landlord if not more than two rooms are rented or offered for rent, and if the room has neither a separate entrance from the outside nor sanitary facilities separate from those used by the landlord.

Rental Periods: How long can you rent for?

The rental periods are very flexible, since all types of terms are allowed: weekly, monthly, and annual. Also, you can have leases for no fixed duration.

Do you need to sign a Lease?

Not necessarily. The law does not require a written lease . But if you decide to write one, you must use the appropriate form from the Régie du logement for any new residential lease (room, apartment, condo, house, or land intended for the installation of a mobile home).

These forms are also mandatory for low-rental housing and for the lease of a dwelling with an educational institution by an enrolled student.

In the case of verbal lease, the landlord must give the tenant a form entitled “Mandatory Writing” within 10 days of the agreement. You can buy this form at the offices of the Régie du logement- visit their Website for more info.

For any questions regarding la Regie, please contact them directly: Tél.: 514-873-2245