All Forum Posts by: Shelley Peever

Hello and thank you for this reply - yes, I have been analyzing a few properties - I have found that the main issue for both the traditional long term rental and also short term rental in this area is reliable property management - it is traditionally a cottage country tourist area, but it is becoming more popular for long term residency, and there is an emerging missing middle, because of property prices. It is a very small town, but average home prices are very high. 

Hello everyone: 

I currently own a long term rental duplex in Bracebridge, Ontario, Canada, which is cottage country and about 20,000 population normally. However, Muskoka is a huge tourist area that attracts a large vacation population each summer. I am from this area originally. I currently own a single family home in Victoria, BC as well. My question is - Bracebridge is experiencing issues for long term rentals for people looking to rent a 2 or 3 bedroom unit, and these are very scarce as prices to own escalate and property management for long term rentals is scarce also. I re-rented one side of the duplex I have and had 29 applicants just for the one side. My question however, is for short term rentals there - licensing is taking place such that it is possible, owners may be limited to 50% of the year, making investing in a short term rental more risky. Short term rentals in the past on lakes in this area have done very well, but things have changed post covid, interest rates rising etc. People who purchased cottages a few years ago may be losing a great deal of money trying to sell them right now. So, I see that prices are very attractive to buy a lakefront property, however, STR may be too risky. I would appreciate any feedback.

Hello Everyone - I am a realtor, appraiser, now mortgage broker in Canada and I also own an investment property. In Canada, especially Ontario and BC many investors are leaving for more landlord friendly locations. I am an appraiser here in BC but I have found that the AMCs have made it virtually impossible to succeed financially in the field which means it cannot be a full time commitment, namely in BC where I currently live. My main goal has been to keep buying rental properties, however, so far my experience has been a very challenging one in Canada because of the tenancy laws, and interest rates. I need to continue to pursue cash flow but would very much like to be in a more remote position to spend time on the lending side because being a realtor and appraiser is limiting in a local geographic sense.  Any feedback and recommendations would be welcomed.  

Thank you - all of them want a monthly fee that is very high.

Yes, it is definitely and thank you for taking the time to reply - much appreciated.

Thank you for taking the time to reply - in fact, I was just thinking about this and yes, I believe that I would - the reviews and information that I have gathered all suggests that the businesses in the area are simply awful - and it would be interesting for them to have some competition.

Hello - I own a duplex in Bracebridge, Ontario, Canada - the largest issue I have has been property management - I live in BC, and there are not many property management companies in Muskoka that handle long term rentals - many do air bnb properties, but most property owners who rent long term do the management on their own.  There is one company but it does not do a good job - has a monopoly really - any suggestions would be fabulous, thank you.

 Cory Byrne, Barrie Ontario 

Hello and thank you very much - the tenant has a free standing heavy bag on the front porch of a half duplex and the floor is wood.  It has been damaged, and I have now replaced the entire porch - it was old, but I feel that the punching bag may have helped the damage occur. I have photos definitely of before and after. So, besides now protecting the floor if this tenant wants to keep using it because these free standing bags can move around, they also are noisy and can cause vibration. If it were a single family home It might be ok to have it in the carport or yard somewhere but it is duplex so there are tenants to the left in the left side unit.

Thank you for your feedback. 

Hello - thank you so much for this excellent feedback - much appreciated