Charge the tenants a higher rent rate and include utilities with their rent.

Hey everyone! I recently purchased my first property which happened to be a commercial property that has, among other things, a 2 bay automotive repair shop/inspection station. The current tenant has been there for ma...

Interest rates go up 2% points.Labor costsRaw material costsInflationPlan B.  

Appreciation - Will Multi Fam appreciate at a similar rate to SFH in your area?

if not... i'd say stay local to Canada 'cash flow' is very, very tough right now with interest rates and prices both high

would hurt anything would be it might decrease the number of types of debt you have but I’d just be happier to have less debt and work on building up your credit score in other more positive ways like paying off some credit cards if you have balances on any of them.

I personally want to use this strategy to lock in a lower interest rate on a rental property (being 20 years old with a small amount of credit history). 

For example, cleaning fees will now need to be included in the nightly rate shown to travelers.

I have a rate of 3.75% Current PITI is 2180 and other expenses monthly are roughly $200.

I recommend spending 30 minutes every month watching the rent rates in your market so you always have an idea of what yours would rent for should you have a surprise vacancy.