Agent for buying a cash-flowing rental property in Ontario
Buying a rental combines a purchase with a leasing plan. The right agent checks the numbers as well as the property.
- Numbers: expected rent, property tax, insurance, vacancy and mortgage costs against the asking price.
- Property type: duplexes, triplexes, small multiplexes and condos each have different zoning, legal-use and financing concerns.
- Legal status: confirm that units are legal and permitted, particularly for basement apartments and additional dwelling units.
- Tenants: ask about existing leases, rents and whether you take on sitting tenants.
Pick an agent who invests themselves or can show past deals, and who has contacts for mortgage brokers and property managers.
What it costs
Agent commission is negotiated. Investment costs depend on the purchase price, down payment (often higher for rentals), inspection, legal fees, land transfer tax and any upgrades needed to make the unit rentable.
Top 3 by our score
Ranked from our published scoring of public Google reviews for investment property agents.
- 1. Alex Zhvanetskiy Toronto Realtor Condominium Specialist945.0★ · 145 reviews
- 2. The High Park Real Estate Group934.9★ · 223 reviews
- 3. HAUS Real Estate925.0★ · 113 reviews
FAQ
- How do I know if a rental will cash flow?
- Compare realistic rent with mortgage, taxes, insurance, maintenance and vacancy. An agent can supply comparable rents, but verify them yourself.
- Is a basement apartment legal?
- Not automatically. Check municipal rules, permits, and fire and building code compliance before you rely on that income.
- Do investors need a different mortgage?
- Often the down payment and qualification rules differ for rentals. Speak with a mortgage broker early.