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Updated over 11 years ago on . Most recent reply

User Stats

72
Posts
8
Votes
Dominika M
  • Homeowner
  • Brampton, On
8
Votes |
72
Posts

Rent to own Canada (Ontario)

Dominika M
  • Homeowner
  • Brampton, On
Posted

Hi all,
I'm giving some thought to rent-to-own. I'd like to know how much of this is actually happening in Canada. All the people that preach it of course make it sound like big business, but i want to know of actual people. On kijiji (or Craig's list)there's plenty of rento-to-own postings, but that could really be just one person. The system i'm contemplating is to get a good prospective tenant first and then let them choose a house.
Thoughts? Is this being done? How do you feel about it? Are these a good deal for the tenant? I know that here in GTA (avg house/condo price $550,000) many people want to get into their own house, but need help.
Dominika

Most Popular Reply

User Stats

213
Posts
65
Votes
Gary McGowan
  • Investor
  • Stouffville, Ontario
65
Votes |
213
Posts
Gary McGowan
  • Investor
  • Stouffville, Ontario
Replied

Hi,

I'm located in the GTA and own 12 Rent To Own properties at the moment. Although have not picked up a new RTO in a year as my focus has changed somewhat back to long term investments. I have found that in the larger market in Toronto it is very rare to do a RTO, Most of my properties are in the suburbs of Toronto. Durham region, Brampton, Vaughan and Barrie where the price points make better financial sense. We have never done a RTO on a condo as the condo fees really skew the numbers for both the Investor and the Tenant.

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