All Forum Posts by: Jon D.

Trying to increase the number of deals coming across my desk. Aside from MLS, where are people hearing about / seeing deals in Toronto? Focusing on multi-family (duplexes, triplexes). Appreciate the advice!

 The one I have seen quite a bit in my research is http://corporatehousingbyowner.com so that's the one I would try. As well, Craigslist could be a good option.

You're right @Paul Sandhu that 30 day minimums are restrictive, but it's necessary given the tight rules around STR in Toronto.

Yes, @Nancy Bachety - we would list on corp rental sites.

@Myka Artis - that makes a lot of sense. We have many corporate HQ's (banks, telcos, etc.) which is where we would focus.

Thanks @Ariel Smith.  You're right on the conference part, we would focus on the traveling worker.

I'm continuing to hone my understanding of the various rental focuses (there are lots!) as I expand my portfolio. I'm interested in corporate rentals (CR) and wondering what success/challenges others have faced.

Here's my basic thesis: Acquire a mid/high quality property in a market with several corporate offices (preferably multi-nationals). Executives are travelling, there are lots of conferences, etc. This would be a furnished property with minimum 30-day rental requirements. You can get a decent premium given the short term nature, and the fact that the "renter" is paying with an expense account. 

I am aware that STR's require a higher level of service and have frequent turnover. I have systems in place for daily cleaning and property management.

If anyone has corporate rentals, I would love to know what your experience has been. Is the CR market much different from the typical STR market? Is the clientele much different? Are the returns better? Appreciate your insights!

Funny you mention the corporate rental route @Myka Artis. Have you done that? Is there an established online marketplace for corporate rentals (i.e. an Airbnb for corporate rentals)? Or is it just about marketing to local corporations?

Thank you @Luke Carl - I might take you up on the personal consultation!

Very good point @John Underwood. In my case, I live in the city and would be investing in the city as well, so wouldn't necessarily be using it personally. But that benefit makes a lot of sense for VR's!

That's very similar to what I was thinking @Eric A. - and it sounds like you've got it down to a science.

I've been doing some research into the short-term rental market. Browsing on Airbnb in my city and analyzing prices, availability, etc. Economically, they make a lot of sense given the higher comps and cash flow I can pull vs. an annual lease.

I also believe that a lot of the day-to-day can be automated (i.e. listing the property, booking it, keypad lock entry, having it turned over for the next rental.)

QUESTION - If anyone has a short-term rental, I'm curious to know if they are more or less difficult to manage? Are there common problems that come up with short-term rentals, which the average real estate investor wouldn't consider?

Any suggestions for wholesalers in Toronto, Barrie, Hamilton, and the southern Ontario area?

Thanks for the feedback @Eric Delcol. I'm thinking more north as in Barrie, Markham, etc.

I've looked extensively at Hamilton and haven't found anything with positive cash flow. The rents are just too low. Have you found otherwise @Jacob Perez ?