Now is the time to be looking for that income property for your future!!!
An affordable rental home is
becoming more difficult to find in a
rental market as tight as Barrie. With
low construction of purpose-built
rental, the rental apartment vacancy
rate is forecast to rise only slightly
from 1.6 per cent to 1.8 per cent in
2015. The slight increase is supported
by an increase in rented units in
the secondary market. Through
information from industry contacts,
some seniors are investing in the
condo market and renting out their
units. These investments will help
them to prepare for their retirement.
Also, the City of Barrie is working
through the process of allowing more secondary suites. People who are
interested in renting less expensive
units such as bachelors and one
bedroom apartments will consider
renting a secondary suite.
Some upscale units designated
primarily for seniors and young
professionals will push the rent up.
The average rent for a two-bedroom
apartment will be $1135 in 2015 and
$1158 in 2016.
Call me to discuss how to make an income well into your retirement years.