Hello Everyone with real estate investment firms in HAMILTON!!
Thank you to everyone at REIN for this past Saturday’s Proactive Property Management workshop! The event was excellent! Host Russell Westcott did not disappoint, Don Campbell as always was on point, and the guest speakers shared a wealth of knowledge on property management – from advertising rentals to evicting tenants.
Photo credit to Charles Wah, You have photographic skills my friend.
My talk on “Pick Your Tenant, Pick Your Property” went well from the feedback I received. Once I have permission to share, I will for clients and for those of you subscribed to my newsletter (if you haven’t, fill out your name and email address in the top right of this screen). My topic was about how we real estate investors must consider the tenant we want to attract when deciding on a property, location and strategy. If your target demographic is doctors and lawyers, you don’t offer houses for rent in Hamilton in the low income, high crime, neighbourhoods near the industrial areas. My example is extreme, but you get the picture.
Hamilton’s rise in rents the sharpest in Ontario, vacancies down
If you talk to the local property managers then this is no surprise to you. Same with the in-migration from the GTA as tenants seek affordability. Good news for all of you who already own rental property and a question for those of you who don’t – What are you waiting for?
From the article:
The cost of renting has shot up more in Hamilton this year than anywhere else in the province, according to new numbers from the Canada Mortgage and Housing Corporation.
With an increasing number of people now priced out of the Toronto market and moving to Hamilton, it’s a case of demand outpacing supply — and analysts also warn that as some Hamiltonians won’t be able to afford to buy a house in the city’s surging market, more will be forced to stay in rentals.
For the full article, click here: http://www.cbc.ca/news/canada/hamilton/news/hamilton-s-rise-in-rents-the-sharpest-in-ontario-vacancies-down-1.3113786
Thank you for reading and Happy Hamilton Real Estate Investing, Everyone!
Erwin | MrHamilton.ca
