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Newmarket Rents Are Rising Fast: “I’m Getting $1700 for my 2 Bedroom Upper Apartment & $1800 for my 3 Bedroom Lower Apartment. That’s $3500/month!”

November 25th, 2017 · ADU, Latest News, Newmarket income property, Newmarket investment property, Newmarket Real Estate, Newmarket Rental Property, Rents

newmarket rents landlords rising tenants investing

A Newmarket Landlord Writes In: “I’m Getting $1700 for my 2 Bedroom Upper Apartment & $1800 for my 3 Bedroom Lower Apartment!” Now Is The Time To Buy The Right Property In the Right Area in Newmarket (Act Fast Or Lose Out)

The whole purpose of this blog is to help Newmarket landlords succeed.

We wrote earlier that Newmarket is the hidden gem for landlords in the Toronto and Greater Toronto area.  Many people think investing in Toronto condos is the answer but there is a huge glut there and rents don’t cash-flow (and don’t even cover costs in most cases!) 

Newmarket has a very good system to make sure your rental property is “legal” to protect you from tenant complaints and to offer tenants in duplexes extra garbage, two mailboxes, and increased safety (as the “legal” property is registered with the Fire Department).

Meanwhile in Newmarket there are a lot of very good tenants looking for places to rent. York Region has a very low vacancy rate and Newmarket has a lot of great tenants around. These renters include:

1. Local People Who Sold Their Houses, “Cashed Out” and Now Want to Rent

Lots of ‘baby-boomers’ in their 60’s want to enjoy life and have sold their home and want to rent. After they sold their homes they have lots of money to pay rent…and also to take lots of trips to Europe, Florida and to travel the world. These people have a lot of money and are great tenants (who often aren’t even home as they are traveling so much!)

2. Retirees With Big Pensions Who Want to Rent Now They Are Older

Some older people don’t want to worry about property taxes or cutting the lawn and want to rent.

3. People Who Commute to Work In Toronto

Living in Toronto can be stressful and the schools are dodgy. Many families want to live in Newmarket where there is clean air, nice parks and good schools.

4. People Who Work in Newmarket (especially Nurses, Teachers and Government Employees)

Newmarket is a key area for the government. There are lots of people with good jobs as teachers, nurses, and government employees. They have high salaries and good credit scores.

Newmarket Landlord Writes In: “I’m Getting $1700 for my 2 Bedroom Upper Apartment & $1800 for my 3 Bedroom Lower Apartment!” 

We had a Newmarket landlord write in with the following in November:

“I bought a Newmarket duplex near the hospital in 2014 because of the advice from this blog and rented it out.  It was pretty easy to find good tenants as long as you always run a credit check and an employment check.  Rents were paid on time and when the tenants moved out there was nothing major to worry about. You are right…there are lots of good tenants in Newmarket.

When I began advertising this summer I looked around and saw properties that were no where near as good as mine were charging pretty high rents. My property is a legal duplex near the hospital and the 404 highway so I decided to charge higher myself.

I upgraded the kitchen and bathroom and bought new stainless steel appliances for both the upper and lower units. I put in some pot lights and my Newmarket rental looked better than all the competition out there!

Most of places on the market were run down with no real quality upgrades.And the rentals on the market that were upgraded where all in the “DOGPATCH” where no good tenants want to live.

I ended up renting my upper unit for $1700/month to a young teacher and nurse (they pay their share of the utilities) and my lower 3 bedroom unit for $1800/month (they pay their share of utilities) to some newcomers to Canada who needed a 3 bedroom with good jobs in the York Region area. The tenants paid with post-dated cheques and first and last.

Both upper and lower tenants are terrific people who are renting for a few years until they save enough to buy their own home. They have good credit and jobs and they “worry about me more than I have to worry about them” (as there some bad landlords out there, especially in the “PATCH” area near Yonge St. which has such a bad reputation).

So my legal duplex is bringing in $3500/month for me with no headaches at all and the post dated checks get cashed each month.


How Can You Get These Types of High Guaranteed Rents in Newmarket?

Let’s look into this in further detail to help you buy the right type of property to get high rents (and property appreciation over the next 2-3 years as well)

1. You Need To Be In The Right Area Near the Hospital and the 404 Highway (so people can get to Toronto fast)


The Area Near the Southlake Regional Health Centre Attracts Good Tenants, Including Nurses and Hospital Staff, And Is Appreciating Fast

newmarket landlords 404 highway

Newmarket is a safe and lovely place to live.

If you want to get high rents invest in the area near Mulock and Leslie or invest near the hospital and anywhere near the 404 highway!

2. You Need to Be Legal

The "N" plate show the rental property is registered and legal. No "N" Plate means you are paying rent for an unregistered and potentially unsafe apartment!

The “N” plate show the rental property is registered and legal. No “N” Plate means you are paying rent for an unregistered and potentially unsafe apartment!

Good tenants will only rent “legal” rental properties in Newmarket nowadays.  Good tenants won’t pay high rents for an “illegal” unit and can even get you shut down with one phone call to the fire department.

3. You Need New Appliances and Great Decoration

newmarket landlords rental property

This means  pot lights, new flooring and a great kitchen! (with stainless steel appliances).

Remember, “premium tenants” have a lot of choices and they would rather have a beautiful and newly upgraded small unit than a crappy, non-updated larger unit.

4. Duplexes Rule…and Huge Basements Are Easy To Rent Out To Families For High Rents (avoid 1 bedroom basement!)

If you own a legal duplex in the right area you are on your way to financial success as a Newmarket landlord. Most tenants don’t want to rent a single family home because it’s just too big for them, or they don’t want to pay so much for monthly utilities. As landlord you can make 2x the rent with one rental property (just make sure you are legal!)

The bigger the basement the better as lots of new immigrant families have kids and will rent out nice safe basement units for high rents (and they are great tenants). One bedroom units attract single people who usually don’t have good jobs. Big 3 unit basements units can attracts long term family tenants who often rent for 3-5 years while they save money for their own house.

5. Do Not Buy In The “Patch” also called the “Dogpatch”

newmarket dogpatch patch murder

There is only one bad area called the “Dogpatch” where there are drug dealers and even recent murders of tenants. It’s the small area near Yonge Street and Davis Drive, east to Longford.

Avoid the Patch area of Newmarket at all costs!

Good tenants with good jobs, high credit scores will not rent there! It’s a small area and make sure you avoid it!

6. Make Sure You Have Private Laundry (With Washer and Dryer)

newmarket landlords samsung washer and dryer

Tenants who pay high rents want private laundry facilities. They don’t want to “share” laundry with the other tenants who they don’t know. 

Secret Tip! Successful Newmarket landlords know offering private laundry is one of the key ways to attract the “premium tenants out there!

Newmarket Rents Are Rising Fast

Key to success

Act now and make profits as soon everyone will be investing in Newmarket rentals

Do you want to be a success landlord and property investor?

If so look at buying the “right property” in the “right area” with the “right decoration” that is “legal” in Newmarket, Ontario. You will get great tenants that pay on time. 

It’s a great investment cash-cow and one of the best places in Ontario to be a residential landlord. But you need to act now because people are buying up all the best rentals that can attract the best tenants out there.

By 2018 most of the best rental in the best areas will be bought up and those landlords will be enjoying profits for years to come.

Future Newmarket Landlords Can Succeed and Make Profits

So there you have it: the ways you can become a successful Newmarket landlord and make huge monthly rents from great tenants who won’t give you any problems.

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Newmarket is the “Hidden Secret in the GTA” For Landlords Who Want High Rents and Good Renters

October 31st, 2017 · Accessory Dwelling Unit, ADU, Basement Apartments, Dog Patch, Latest News, Newmarket Rental Property

Portrait of happy couple with key of new home

Newmarket has high rents & lots of good renters!

 Newmarket, Ontario Is the “Secret Place” Where You Will Find Good Tenants, High Rents, And A Clear Way To Make Sure Your Rental Property is Legal and Protected.  Make Sure You Have The “Right” Property in the  “Right Area” & Enjoy Landlord Success

The media keeps telling us how vacancy rates are low and more and more people are deciding to rent instead of buy in 2017-2018. This is true and it’s good news for landlords. But with more tenants comes more increased competition with other landlords to rent to those good tenants.

Toronto Doesn’t Make Sense: Huge Glut of Rental Condos In Toronto Already & Thousands of Rental Units Coming in 2018

Thinking of buying a condo in Toronto or North York? Be careful as while there are lots of good tenants out there they have a ton of choices in Toronto and North York. If you look at the Yonge and Eglinton area there are so many new condos being built. The units are bought by investors and that means even more rental units on the market and even more choices for tenants and that means more demands and lower rents! With a condo you also have to pay condo fees and deal with your condo management.

We’ve recently heard of a landlord who bought a condo be forced to pay thousands of dollars for a non-existent toilet leak! And condo management bothering tenants by not even providing proper notice to check things. And the angry tenants taking the landlord (who did nothing wrong) to the Landlord and Tenant Board for money due to the illegal entry with no warning!

Newmarket Rentals Make Sense: There A Limited Amount of Winning Properties In Newmarket (That Attract High Rents and Good, Long-Term Tenants)

Rental properties that are in “prime time” areas and make really nice high rents and attract good tenants are very limited in Newmarket. There is a limited supply and they won’t be making any more of these types of properties that attract high rents and attract good tenants!

1. What Types of Rental Properties Attract High Rents and Good Tenants in Newmarket?

The best investment by far is a legal duplex. This way you get two income streams because a legal duplex has two units and two tenants paying you rent each month. Even if one unit is vacant, you still get an “income stream” from the 2nd unit. This is unlike a townhouse or condo where if the unit doesn’t have a renter you get no income coming in.

2. What Area Do Good Tenants Want to Rent In?

The Area Near the Southlake Regional Health Centre Attracts Good Tenants, Including Nurses and Hospital Staff, And Is Appreciating Fast

The Area Near the Southlake Regional Health Centre Attracts Good Tenants, Including Nurses and Hospital Staff, And Is Appreciating Fast

The area near the Southlake Regional Health Centre is a “prime time area” that is great for landlords.

Most of the houses are owner-occupied and it’s not considered a ‘rental area.’ Also, there are lots of tenants who want to rent in an area that is close to good transportation, close to the 404 and in a key, safe, low crime area of Newmarket.

George Richardson Park is the best park in Newmarket and great for kids

George Richardson Park is the best park in Newmarket and great for kids

Good rent paying and respectful tenants also like to rent properties near parks and schools. Many tenants in the Southlake Regional Health Centre area have families. It’s not uncommon for tenants there to stay for many years as their kids go to the schools there and enjoy the huge parks.

3. What Are Good Tenants Looking For In Newmarket?

newmarket landlords rental property

They are looking for newly renovated places, with lots of space and new appliances. They like nice clean flooring. The key thing is the area so if you are advertising your place in a good area like near Southlake tenants will appreciate it.

4. How Important Is It To Have Legal Duplex in Newmarket?

The "N" plate show the rental property is registered and legal. No "N" Plate means you are paying rent for an unregistered and potentially unsafe apartment!

The “N” plate show the rental property is registered and legal. No “N” Plate means you are paying rent for an unregistered and potentially unsafe apartment!

It’s very important for both landlords and tenants. First of all, tenants like to know they are renting a safe, legal property that has been inspected by the Fire Department. Second, landlords are protected if tenants complain to the town.  It can cost you up to $50,000 to make your unit so make sure you buy a legal Newmarket rental property.

5. Are There Any Areas To Avoid In Newmarket? (Yes, It’s Called the “Dogpatch”)

Newmarket tenant murdered in rental property newmarket

Tenant shot to death in a rental property in the Patch in October!

Many people who are not experts on the Newmarket rental market thinks all areas here are the same. They are not the same!

Also, many shady real estate agents won’t tell you the truth about the different rental areas in Newmarket. You need to be careful.

The worst area of Newmarket is called the “Dogpatch.” 

This is the area full of rental properties with absentee landlords. It’s at Davis Drive to Yonge Street, and goes to Longford Drive.

Good luck finding a good tenants when their are recent MURDERS occurring in that area, in rental properties there.  Avoid the the Yonge St. /Davis Drive / Longford area at all costs. For years we see people buy and sell one year later as good tenants simply don’t want to live in a crime infested area.  Many good tenants who don’t know the truth of the area and who move to the Dogpatch want to escape as soon as they can and rent in a better, safer, area.

Newmarket Is the “Hidden Secret” in the GTA and the #1 Place to Invest in Rentals in Ontario

With low buying prices, good tenants and high rents Newmarket landlords know how lucky they are to have invested here. But in the ‘right area” and avoid the “dog patch” and you are on you way to a very nice income and appreciation!

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Newmarket Tenant Asks: What Can I Do If I’m Renting An Illegal Rental Apartment?

October 20th, 2017 · Accessory Dwelling Unit, ADU list, Basement Apartments, Basement rental apartments, Dog Patch, Latest News, newmarket renters, Newmarket tenants

Slum Lord

Tenants Be Careful! There Are Lots of Illegal, Unregistered, Unsafe Rentals in Newmarket

If You Are Renting A Basement Apartment and There is No “N” Plate There is a Strong Chance Your Apartment Isn’t Safe, Registered and Legal

We have written a lot about why investing in Newmarket and Aurora rental properties is a smart move. And why not? With house prices appreciating fast investors are seeing terrific appreciation every year.

There are also lots of great tenants in Newmarket.  As the population grows Newmarket is no longer viewed as “way up North” and now we see lots of people from Toronto, Mississauga, Richmond Hill and other places moving here. 

With all the parks, low crime rate, good health care and convenient shopping Newmarket is a prime time location and lots of people are moving here and renting here.

Good Tenants Deserve Good Landlords and Safe Homes

This website was created to help landlords learn how to be responsible and successful and we’ve received hundreds of messages thanking us for the hard work and important information presented here. 

We’ve also received messages from Newmarket tenants asking for help and advice.

Newmarket Tenants Asking for Help and Advice

While there are lots of responsible landlords who are aware of their rights and responsibilities the sad news is we continue to hear about some Newmarket landlords who are not holding up their end of the deal.

Being a landlord is a business, not a hobby. Being a landlord also comes with legal responsibilities.

Tenants are expected to take care of the property and pay their rent on time.  Landlords are expected to fulfill their responsibilities under the Residential Tenancies Act and are required to provide safe and legal rental homes.

Unfortunately we have even heard some out of town real estate agents tell potential buyers “it doesn’t matter if the basement is legal or not” and “99% of basements are illegal so who cares!” 

This is unethical and unprofessional and simply BAD ADVICE for potential buyers. If you want to be a Newmarket landlord make sure you buy a property that has a registered basement apartment.

Tenants Have Rights

Several of the messages we’ve received have been from good tenants who worry about their safety.

1. They pay their rent on time. 

2. They treat the property very well. 

3. They are very cooperative and professional when dealing with their landlord. 

The problem is while the landlord is happy to take the rent money, they are not providing a quality and legal product for their tenants.

We received the following message from a Newmarket tenant:

“I know this is a landlord blog but we are looking for help! We rented a property in Newmarket, Ontario and signed a one year lease. 

We are responsible tenants and agreed to a credit check and even a criminal check. We are renting now to save up to buy our own house in a couple of years. With property prices so high, we never even expected to have to rent but it’s our reality.

The problem is we believe our basement apartment is illegal and we never were told this and we never agreed to this. 

We heard about this from some people down the street who told us that Newmarket has a system to make sure rental properties are legal and safe.  We read your blog and confirmed they were right. 

We feel the landlord scammed us and are very angry! They never told us we were renting an illegal and unsafe property…and we are paying a lot of rent to stay here! 

We are very worried because we have kids and with the high rent and us being good tenants it’s clear we are dealing with a slumlord who is breaking the law! 

What can good tenants do dealing with landlords who don’t follow the law and just want to be slumlord taking our rent money for illegal and unsafe properties?  Thanks in advance.”

First of all no tenant should ever be renting and illegal and unsafe rental property.

1. How Do You Know If Your Rental Property Is Legal and Registered?

In 2013 the Town of Newmarket passed an amended by-law 2013-13 which requires all residences with Accessory Dwelling Units (AUDs) to be registered to make sure they are safe to live in.

This was a great move by Newmarket to help tenants make sure they are renting safe, legal housing and not unsafe, illegal housing.

Tenants have two easy ways to get information about your rental home. 

First, take a look if there is an “N plate” on the front of the house. 

The "N" plate show the rental property is registered and legal. No "N" Plate means you are paying rent for an unregistered and potentially unsafe apartment!

The “N” plate show the rental property is registered and legal. No “N” Plate means you are paying rent for an unregistered and potentially unsafe apartment!

If there is an “N plate” it means it’s legal and registered (N stands for Newmarket.) 

The second way is to check the Town of Newmarket government website to see if your property is on the list.  You can see this list at this link to legal Newmarket rental ADU apartments. Is your rental home on the list?  If it’s not it’s not registered.

2. If Your Rental Property Is Not Legal and It’s Unsafe What Can You Do?

Paying rent and being a good tenant is fulfilling your part of the bargain.

But your landlord has to pay their part too, and that means obeying the law and providing you with a safe and legal property in return for your hard earned rent money.

You can contact the Town of Newmarket, the Fire Department, and the Enforcement Unit of the Ontario Government to make sure your rental apartment is safe.  You do not have to tell your landlord before making these calls.

(a) Report Your Rental Property to the By-Law Dept. at the Town Of Newmarket

This is your first step. You can directly call the Town of Newmarket and have a By-Law Officer come to make sure your rental property is safe and registered.  The By-Law Officer will meet you directly (not involving the landlord) to see if your home is safe. If there is any repairs needed the By-Law Officer will order your landlord to make the needed repairs or face fines.

You can go to the Town of Newmarket website

You can also call them at 905-895-5193 and report your rental property to the By-Law Department.

Don’t be shy and enforce your rights.

Your landlord cannot evict you for enforcing your tenant rights to rent a safe apartment.

Remember, you have done nothing wrong and if your landlord has rented out an illegal, unregistered apartment you might even be owed many months of your hard earned rent back to you.

(b) Call The Newmarket Fire Department (Central York Fire Services)

They will come to your place you are paying for to make sure it’s safe.They take this very, very seriously!

Go to their website at

Give them a call at: 905-895-5193 | 1-877-550-5575

They will come to meet you and inspect your property to see if its legal and safe and up to code or not.  If it’s not the Fire Department will contact the landlord and order them to make the necessary changes or the landlord will be fined.

(c) If Your Rental Property Needs Repairs You Can Call the Provincial Government for Help

You can also call the Province of Ontario Rental Enforcement Unit to demand your landlord provides you with a safe, legal and registered rental property.

Here is the information you need.

You can call the Enforcement Unit to help you at this toll-free number: 1-888-772-9277

The Province of Ontario takes tenant safety and tenant rights very seriously.

What Happens If the Landlord Gets Angry At You Or Harasses You For Ensuring Your Safety?

Tenants have rights and are protected.  If your landlord gets angry at you, threatens you, or harasses you call the Landlord and Tenant Board for assistance. 

You can file a complaint against the landlord and take them to the Landlord and Tenant Board where the landlord will have to testify about their actions in front of an Adjudicator (like a judge).  The landlord can me ordered to stop and fined.

Here is the Landlord and Tenant Board website:

You can also call and get advice by calling the Landlord and Tenant Board at their toll free number: 1-888-332-3234

The Landlord and Tenant Board can also help you get free legal help if you need it.

Newmarket Tenants And Good Newmarket Rental Properties

There are a more and more hard working and honest tenants coming to Newmarket. There are also a lot of terrific landlords in Newmarket who offer great rentals.

Good landlords deserve good tenants and good tenants deserve good landlords.  It’s a win-win situation.

Make sure you rent a safe, registered and legal property. For the high rent you are paying, make sure you demand a safe and legal Newmarket rental apartment!

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Make Sure Your Basement Apartment Is Legal and Registered (Retrofit) Updated for 2017!

October 16th, 2017 · Accessory Dwelling Unit, ADU list, Basement rental apartments, Latest News, Rental Property, Retrofit

550 Heman St. Newmarket sold for $621,000 on August 21, 2016. It's a nice property, but the basement isn't registered

550 Heman St. Newmarket (Semi-Detached) Sold for $621,000 on August 21, 2016 (MLS: 3580179). It’s a nice property, but the basement isn’t registered with the Town of Newmarket

It’s A Smart Move To Buy A Property With a Basement Apartment That Is Legal and Registered 

More and more people are buying houses in Newmarket and the real estate market is hot. By buying in Newmarket you are getting home ownership in the fast growing GTA at a reasonable price and will see a lot of future appreciation.

Compare the prices for a detached or semi-detached in Newmarket when the average GTA low-rise (non-condo) price is now over $900,000. For this price you can still find a high quality property in Newmarket.  Either a property where you live in with a legal, registered basement apartment to rent out or a pure investment property.  Prices are rising fast and the time to invest is now.

There are are also a lot of good tenants here. These are the tenants you want: they pay on time and respect both you and your rental property. This is why many people decide to rent out their basement as a rental property to earn extra income or help cover your mortgage.

Make Sure Your Basement Apartment Is Legal and Registered (Retrofit)

The "N" plate show the rental property is registered and legal with the Town of Newmarket

The “N” plate show the rental property is registered and legal with the Town of Newmarket

In this blog we’re going to explain to you why it’s important to buy a property that has a legal basement apartment registered with the Town of Newmarket. This is also called a “retrofit” basement apartment.

We continue to see some real estate agents list properties that have basement apartments without telling potential buyers of the legal requirements for having an “income property” in Newmarket.

They say “you can rent out the basement apartment” without telling you that if you aren’t legal and registered you will have to go through a long and expensive process before you can ever look for a tenant. This is why the smart move is to buy a property that is already legal and registered.

Here are the key points to remember:

Newmarket landlords good tenants

(1) Good Tenants Love to Rent Safe, Legal Apartments.

It’s a terrific ‘selling point’ for good tenants.

This shows you are a professional and responsible landlord and you have a safe apartment. Meanwhile, illegal basements “turn off” good tenants and can lead to a lot of headaches for you with bylaw officers, neighbours, etc.

Newmarket landlords mortgage qualification

(2) An Existing Legal Basement Can Help You Qualify For Your Mortgage

You can also use the apartment to help you get easily approved for your mortgage. You can add the income from a basement rental apartment to get approved. But the rental apartment in the house you are buying must be legal in order for you to use it to help you qualify for the mortgage.

Newmarket money time value

(3) Buying a Property With A Legal Basement Apartment Can Be Put All In Your Mortgage And You Can Start Renting Out Your Basement Fast (and bringing in monthly rent cheques!)

Adding a legal basement apartment is going to end up costing you time and $50,000 or more. Who has $50,000 + after you put down your down-payment to buy a place?  If you have to go through the process yourself you will have to pay out of hand to do it.  If you buy an existing legal, registered basement any additional costs can be put into your mortgage. Instead of having to pay electricians, plumbers, drywallers, dealing with permits and approvals you can focus on renting your basement and making cashflow.

Renting Out Your Basement Apartment

It sounds so simple. You have a basement rental apartment and want to rent it out. The tenants see the place, like it, you sign a lease and then every month they give you a check or cash paying the rent to you. They key is to rent to all the good tenants out there.

What Are Good Tenants Looking For When Renting a Basement Apartment?

There are a lot of great tenants in Newmarket who want to rent a basement apartment.  These are the tenants you want to find. But if you want them to rent from you it’s important to know what they are looking for

1. Good Location in a Nice Neighbourhood

Remember, your tenants are renting out a place they will call home and they want to make sure they are in a good area. The area doesn’t have to be filled with two million dollar homes. Good tenants are looking to be near shopping, bus routes, schools and parks. It’s a great advantage for you if your rental property is not in a typical “rental area”. Good tenants like to be on a street full of homeowners who show pride in their property and keep it nice and clean.

2. Clean, Nice Looking Unit

Tenants often tell us how many ugly decrepit basements are on the market for rent. Good tenants like a property to be clean and new. 

3. Tenants Love  Units That Are Bright and Have Nice New Windows

This is something many new landlords don’t know. Tenants prefer basement units that have at least part of the rental on the ground floor.Or a unit that is an “above ground” property that gets a lot of light.

4. Two or Three Bedroom Apartments Bring In a Lot of Monthly Rent!

This is also something many landlords don’t know. It’s far easier to rent a nice 2 or 3 bedroom basement apartment over a 1 bedroom. Why? Because many tenants have a lot of belonging and may have kids or a partner. One bedroom basements attract transient tenants while bigger units attract better renters………and bring in a lot of rent!

5. Safe, Registered, Legal Basement Apartments

We wrote about safe, registered legal basement apartments before and it’s just becoming even more important every year. Newmarket has a system to protect tenants (and landlords) where the house owner need to register with the town and prove the basement apartment is safe.

There is a process to make your basement apartment legal and registered. The process can be pretty long and costly.  

As the process can cost a lot of time and money we always recommend new buyers to only purchase duplexes that already have a legal basement apartment. 

This way you don’t have to spend months and thousands of dollars to get the basement apartment registered. If the property you buy already has a registered basement you save thousands and don’t have to pay out of pocket (instead of putting any expenses in your mortgage).

What Are The Benefits Of Having a Legal, Registered Basement?

There are many. Let’s look closer at some of the benefits.

(1) Attract Good Tenants

As we explained good tenants want to make sure they live in safe, high quality legal housing. If you want to find good tenants who pay their rent on time and respect you and your property you need your basement to be legal.

(2) Safety

A registered legal apartment will need to meet both fire code and electrical code. Whether you are living upstairs or you rent it, it’s important the property is safe.

(3) Increased Garbage Pick-Up

Properties with legal, registered units are allowed to put out double the normal garbage. This means instead of three bags you get to put out six. This is an important way to keep the property clean and good tenants appreciate it.

(4) Two Mail Boxes 

Tenants like their privacy. You get two mail separate mailboxes with Canada Post with a registered basement.

What Can Happen if your Basement Apartment Isn’t Legal and Registered?

Not having a legal basement apartment is like playing Russian Roulette. It’s just a matter of time before it costs you money and grief.

bylaw officer

You really don’t want to deal with Bylaw Officers. Make sure your apartment is legal and registered!

(1) Tenants Can Use This Against You

If you get into a tenant dispute and your basement apartment isn’t registered the tenants can use this against you.

(2) Neighbours Can Use This Against You

Some homeowners won’t be thrilled to having a rental property next to them. If you aren’t registered and legal they can report you.

(3) Mortgage

If your basement unit isn’t registered you can’t use this to help you get your mortgage.

(4) You Can Be Shut Down!

Do you want to be viewed as doing something “illegal” and could be shut down at any time and fined?

Make Sure Buy a House With a Basement Apartment That is Legal and Registered with the Town of Newmarket

The process to get a basement registered and legal can cost a lot of time and money.

To build your own basement unit you have to go through the bylaw department.

Even worse is if you buy a property that has an unregistered, illegal basement apartment. You will need to go through a long process with the fire department and the ESA (electrical safety authority) to try to get it approved.

Get ready to pay electricians to re-wire, change fuse boxes, etc. The fire department will demand a second exit (get ready to create a new door or large window as a new exit, breaking concrete walls and applying for permits), replace drywall, replace ceilings, add walls to the furnace room, add sprinklers, and more.

Let’s Look At a Recent Sold That Is a Good Rental (But Doesn’t Have a Legal, Registered Basement Apartment)

We written before about the importance of having a clean, fresh-looking property in a good area to find good tenants.

And not only will you be able to rent to the best tenants who pay their rent on time and respect you and your property, you will also get a lot of house appreciation.

550 Heman St. Newmarket, Ontario (Semi-Detached) Sold for $621,000 on August 21, 2016 (MLS: 3580179)

This is a three bedroom semi-detached near the Southlake Regional Healthcare Centre. 

It’s clean, in a great area, nice and new looking and has parking. 

The problem is basement unit is not a legal, registered unit. So if you want to rent it out you have to apply and it will end up costing you time and tens of thousands of dollars on top of what you paid for it.

Newmarket 550 Heman Street

550 Heman St. Newmarket (Semi-Detached) On Sold for $621,000 on August 21, 2016 (MLS: 3580179)

It’s got a nice clean front yard and parking for people upstairs and for tenants downstairs. It’s only one story, and we don’t really like these types of properties where they turned the garage into a basement apartment. But it’s clean and in a nice area.

Newmarket 550 Heman Street 2

The living room has a nice big window and is bright and clean and new looking.

Newmarket 550 Heman Street 3

The kitchen is nice and clean and fresh looking.

Newmarket 550 Heman Street 4

The basement is clean.

This is a nice property and will rent out to good tenants and will appreciate in price over the new few years.

You can live upstairs and rent out the basement. Or you can even rent both the upper and lower apartments separately and will be looking at bringing in at least $2600/month.

This is a nice property…the problem is the basement isn’t registered so you will have to go through the long process and it could end up costing you about $50,000 (or more). And you can’t put this in your mortgage, you have to pay yourself with your available funds.  

If You Are Buying a House With a Basement Apartment Make Sure It’s Registered and Legal

More and more people are buying houses in Newmarket. Make sure you buy in the right area, buy the right property and your basement apartment is legal and registered.

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Newmarket Ontario Is the Best Place To Buy A Rental Property in 2017

May 8th, 2017 · Latest News, Newmarket income property, Newmarket landlords, Newmarket Real Estate, Newmarket Rental Property, Newmarket rentals

Newmarket landlords 2017

Newmarket Landlords & Investors Know There Are Lots Of Great Tenants in Newmarket & Rental Properties Are Appreciating Fast!

There’s been a lot of talk about real estate over the past couple of months.  And why not? Property prices are appreciating fast, especially in Toronto And the GTA (Greater Toronto Area).

In a recent article in the Globe and Mail called “Housing Market Sizzles in Toronto’s Suburbs” it was shown that prices in the GTA are actually growing faster than in Toronto. In the Greater Toronto area detached properties jumped up to an average of $1,070,000! This is over 26% higher than in January of 2016. And while prices are rising, active listings in the GTA are lower than before. With prices appreciating fast, many GTA home-owners simply don’t want to sell.

Newmarket Rental Properties Are Booming in 2017

We wrote before about why Newmarket is a great place for landlords and investors.  As things heat up even more lets go over some of the reasons why.

Why Should You Invest In Newmarket Rental Properties?

Properties all over Newmarket and Aurora are booming. But it’s especially true for rental properties / income properties. With prices rising owning a rental is a smart move.

(a) Buying a Newmarket Rental Property With A Legal Basement Apartment

Some people want to buy a property with a rental basement unit. This can help you qualify for a mortgage (as you can use the income generated to quality, as long as the basement unit is legal).  Or it can help you cover your mortgage.

After all making $1000 to $1500 every month in rent can come in handy to help cover your bills!

(b) Buying A Newmarket Rental Property / Income Property For An Investment

With so many good tenants in Newmarket this is a way to make cash-flow.  Or some people will put less money down and have your tenants “baby-sit” in the property (covering your mortgage) while the property appreciates at 20%-50% each year!

So why should you invest in Newmarket rental properties?

Let look at some of the reasons why makes logical sense to invest in Newmarket, Ontario rental properties.

1. Prices Are Appreciating Fast in Newmarket

Investing in Newmarket is a win-win game.  You simply cannot lose buying in Newmarket because prices are rising so fast.

2. Newmarket Has A Clear Way to Make Your Rental Property “Legal”

Unlike so many other cities and towns, Newmarket leads Ontario in allowing landlords and investors to create safe and LEGAL rental properties. Make sure you buy a rental property that is LEGAL.

3. Newmarket Is A Great Place To Live

You have Highway 404 and Highway 400 close by to get into Toronto. You also have quick and easy GO access. Shopping in convenience and there are many great schools here.

4. Newmarket Is Growing Like Crazy (and prices in places like Sharon to the north of us are going up by $100,000s of dollars!)

Newmarket is growing fast.  You only need to look at all the new easy and convenient shopping here. The Upper Canada Mall is going to expand with a new $60,000,000 investment and that means even more terrific shopping in Newmarket!

5. There Are Lots Of Great Tenants in Newmarket

This is one of the key factors for landlords and investors. Newmarket has a lot of very good, working and paying tenants. These are tenants who pay rent on time and respect you and your rental property.

Newmarket Is The Best Place To Buy A Rental Property in Ontario in 2017

Are you looking to buy an income property in 2017?  Newmarket is the place to invest in. 

You not only get terrific (huge) price appreciation in Newmarket, there are also a lot of great tenants who want to rent from you. Just make sure your basement apartment is registered and legal in Newmarket, Ontario.

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How To Buy a Winning Newmarket Rental Property?

August 23rd, 2016 · Latest News, Newmarket income property, Newmarket investment property, Newmarket Real Estate, Newmarket Rental Property, Newmarket Southlake Regional Hospital Area, Rental Property

Newmarket rental property

With Newmarket Booming and Rental Properties in High Demand, Investors & Landlords Need To Know How To Buy The Right Newmarket Rental Property

We’ve heard of lots of excitement from local landlords on how things have been going so well with their Newmarket rental properties.  News is spreading fast and investors are buying here from around the rest of Ontario. We are also seeing international investors from places like China putting lots of money into Newmarket properties in 2016.

Two things are certain if you buy the “right” Newmarket rental property in the “right” area.

First, there are lots of good tenants out there and they will want to rent from you. You will be able to cover your mortgage or make an income.

Second, your property will appreciate a lot over the next few years if you buy in a good area.

Why Is The Newmarket Landlord and Rental Property Market So Hot?

There are a bunch of reasons and we’ll outline them here.

The Entire GTA (Greater Toronto Area) Property Market Is Rising Fast

Toronto and the GTA is growing fast and shows no signs of slowing down. The population of the GTA is expected to rise by over a million people in the next five years and these means lots of renters, new buyers, and lots of property appreciation.

Newmarket is a “New” Market

People are finally discovering what a great place it is. Long term residents in Newmarket have always enjoyed living here. It’s still has polite people and small town charm. It also has great shopping, access to the 400 and 404 highways and lots of parks and good transportation. People are seeing the value in living in a low crime, friendly city that’s moving up fast!

Newmarket Prices Are Low For the Value You Get (but house prices are rising fast)

Newmarket is 10 minutes away from Aurora, 20 minutes to Richmond Hill and 25 minutes to Markham. Yet house prices are much higher in than those areas.  Newmarket in 2016 is a steal (but won’t be for long) The good areas of Newmarket are seeing tremendous appreciation. If you buy now you are still getting good prices and your property will appreciate.

Rents are High in Newmarket and Tenants are Used to Paying these High Rents

Some old, veteran Newmarket landlords say they’ve had it good for decades and don’t want others to know about the type of rents they get. Rents are high in Newmarket, and have been for years.  You are getting the same rents in Newmarket as would would in Toronto where prices are much more expensive to buy a rental.

There Are Lots of Good Tenants in Newmarket (and more are coming each month as it grows)

Newmarket has always been called the “bedroom of Toronto” and it still is. And more people are moving here. With Toronto prices so high people are coming to Newmarket to buy and to rent. This means you see a lot of people wanting to rent for a few years while they save up to buy their own property. These are the types of tenants that landlords love to rent to.

Buy In a Winning Area

It all starts with looking for the area to buy in. Be careful and buy in an area that is growing and has a great reputation. Good tenants want to live in family friendly, safe, nice areas.

The Area Near the Southlake Regional Health Centre Attracts Good Tenants, Including Nurses and Hospital Staff

The Area Near the Southlake Regional Health Centre Attracts Good Tenants, Including Nurses and Hospital Staff, And Is Appreciating Fast

One of the best and fastest growing areas in Newmarket is the area around the Southlake Regional Health Centre.

This is a terrific and fast growing area.  It’s near schools, parks, the 404 and most of the people there are home-owners.

Prices are also rising fast in the area as people from around the GTA discover it. It attracts good tenants such as families, single working professional, couples “just starting out” and nurses and other health care staff (who can walk to work).

If you buy in a good, growing area you will also see more price appreciation of your property and it will be easy to sell later on.

Let’s Take a Look At a Recent Sale That Has Pretty Good Value

Let’s take a look at a place that sold for the right price.

30 Lundy’s Lane, Newmarket Ontario sold for $750,000 on June 27, 2016, MLS# N3534855

It’s in a good area near the Southlake Regional Healthcare Centre and all the properties there are appreciating fast and you can rent to good tenants.

It’s a 3 bedroom, two bathroom home in a good area near the Southlake Regional Healthcare Centre. The street is filled with homeowners (not rentals) and comes with a legal, registered basement apartment. There are some amazing parks nearby.

It sold for $750,000.  And while the property is not perfect it’s a good value.  We would do a lot of upgrades if we owned it, and it’s a bungalow, but It will attract good tenants The property will also appreciate greatly over the next couple of years. 

It’s a winning property for $750,000.

Lundy's Lane 1

30 Lundy’s Lane, Newmarket Ontario sold for $750,000 on June 27, 2016. It’s in a good area and is a good value for the price.

It has parking for both upper and lower tenants (or for your basement tenant if you live in the upper unit). This is important. You need a clear parking spot for the basement tenants. Parking is important and often overlooked by new landlords.

Longford 41 9

Living room is very old and needs to be changed.

 Lundy's Lane 2

The living and dining rooms are “ok” but should be upgraded.

 Lundy's Lane 5

This looks like the original kitchen from the 1970s.  It really needs to be updated to attract “prime time” paying tenants. An attractive kitchen is very important to find good, paying tenants. The flooring needs to be updated.

Lundy's Lane 6

Bathroom is okay.

Lundy's Lane 8

Master Bedroom is not bad, but nothing special.

Lundy's Lane 7

Other bedrooms are clean, which is key.

Lundy's Lane 11

The basement needs a lot of improvements. It needs new cupboards and flooring to attract good tenants. It’s also not a walk-out, and good tenants love walk-outs.

Lundy's Lane 9

The bathroom is okay. The flooring isn’t very attractive and it looks old.

Landlord Tips On Basement Units

There are a lot of good basement tenants out there. There are also bad tenants who rent basements.

Experienced and successful landlords know there are a lot of basements on the market and you need your rental to be attractive to find good tenants.

a. One bedroom basements are the easiest to rent out to good tenants

If there are a lot of people they will prefer to put their money together and rent an “upper” unit. Most people who look to rent a basement are single people. They can afford a one bedroom unit. This way you can also avoid big headaches between people share the basement.

b. Cleanliness is an important factor

A large space isn’t nearly as important as a clean, well-maintained space.

c. Laundry

Tenants like to have access to laundry. Make sure you have space to add a washer and a dryer.

d. Make Sure It’s Registered and Legal

If you buy a property that is already registered and legal it can save you thousands of dollars and months of paperwork and renovation. Good tenants want to live in a legal basement apartment. It also protects you from liability if something goes wrong.

e. Basement Tenants Prefer “2 story” Homes Over Bungalows

This is because they don’t constantly have the house owners or other tenants above them. It’s are easier to rent a basement apartment in a 2 story home over a bungalow.

 Lundy's Lane 15

Tenants like decks, this is really a great selling feature and really adds value to find good tenants. This is a terrific “value-add” to the property.

Newmarket Rental Property

Buying a winning Newmarket rental property will lead you to find good tenants who can pay your mortgage (or create cash-flow for you) and you will also get a lot of appreciation. Newmarket is growing fast and a great place to invest in 2016. Make sure you buy the right rental property!

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Newmarket Investment Property Prices 2016 (Don’t always rely on what a real estate agent tells you)

August 10th, 2016 · Aurora landlords, Newmarket Dog Patch, Newmarket income property, Newmarket investment property, Newmarket Rental Property

31 Hill Street 1

31 Hill St. Newmarket ON (MLS: N3552714) Sold For $593,000 on July 24, 2016


Newmarket Rental Property

41 Longford Dr. Newmarket ON (MLS: N3534675) sold for $550,000 on July 3, 2016

What are standard prices for Newmarket rental properties in 2016? Let’s take a look at some recent sales

Newmarket rental property, Newmarket income property, Newmarket investment property … there are many different names but we all know what we are talking about.

Newmarket is the hot new market for buying properties in 2016. There is a lot of excitement from buyers and investors the rest of Ontario and even around the world. In this type of hot market it’s very important that both Buyers and Sellers are aware of the current prices in the real estate marketplace.

Newmarket Real Estate Buyers

Buyers want to know what prices are in the area so they can compare and buy the best property out there for a fair price

Newmarket Real Estate Sellers

Sellers want to know what properties are selling for so they can make sure they get a fair price for the house they are selling.

One problem is we continue to see lots of Newmarket rental properties (or income properties or investment properties…however you want to call it) listed for sale for low ball prices. By low ball prices we mean prices that are far too low for the market and far, far too low compared to other recent sold property prices.

These low ball listing prices hurt both sellers and buyers.

For buyers having a super low price usually leads to multiple offers. Serious buyers want to know the real price of a property to make a sound, rational decision on whether to buy or not and ridiculously low prices just lead to an unnecessary frenzy.

Many Newmarket House Owners Tell Us Some Real Estate Agents Low-Ball Prices in Order To “Sell Fast”

We have heard this from sellers. The agents don’t even care to create a multiple bid situation…they just want a “quickie sale” and if it leads to a loss of tens of thousands of dollars for the house seller?  Well “them is the breaks, eh!”

As a property buyer it’s difficult to know what properties are really selling for. We need to rely on real estate agents. Unlike in the USA, the Canadian general public is kept in the dark by the real estate boards and not allowed to see what properties have sold for. This has gone to court because it’s not fair and anti-competitive. You can read it for yourself from the Toronto Star.

While there are lots of good real estate agents out there in our experiences there are also those who will only show you select compatibles to convince you to list your home at a low price.

Don’t Allow Anyone To “Low-Ball” the Value of Your Rental Property!

We continue to see properties that are listed for one low price, and then sell for $100,000+ more.

While some will say this is an ‘auction strategy’ in many cases it’s just sellers relying on their real estate agent and listing at a very low price to get a quick sale.

Why Would Some Real Estate Agents Rip You Off With A Low Listing Price?

Because they only get a percentage of the sale. So the difference between selling your life-long investment for $500,000 or $600,000 means a heck of a lot for you, it means only a small number for them. And they want to sell your property fast to get their commission….after all if they don’t sell fast you might drop them and find someone else, meaning the real estate agent gets no money from you. Their incentive is to sell cheap and sell fast! While the vast majority of agents are excellent you have to be careful of those who will low ball you.

Newmarket Landlords Knowledge is Power

We are here to help you by revealing what Newmarket rental properties are really selling for, unfiltered by real estate agents and a noncompetitive, secretive system that needs to change (and will change soon, hopefully).

Here a couple of half decent rental properties that have sold in Newmarket this summer. 

1. Newmarket Dog Patch Area

Please note that both properties are in the Newmarket Dog Patch. The name isn’t meant to insult anyone, but some people say it has been called that because of the absentee landlords who invested there years ago and a lot of pet dogs were running free (one story has it that postal workers were afraid of the unleashed pets and that’s how it all started). So really the name may be be all about absentee landlords.

Where is this area?

It’s the area in Nemarket behind the Tim Hortons at Davis Drive and Longford Drive. It goes west to Yonge St. and east to Main Street and north to London Road. Maple Leaf Public school is there. It includes streets such as Harrison Dr., Penn Ave., Walter Ave., Cherrywood, Silverbirch, Sheldon, Newbury Dr., Maurice Court. Most rental properties for sale are in this area

While improving, this area is generally considered one of the worst areas of Newmarket. 


First of all we want to make it clear the area is improving. There are a lot of good properties there, good investors, good landlords and good tenants. However, it’s not the best area and successful landlords and property investors know buying in a “prime time” area is a key to success!

There are also reasons to be cautious of this area compared to other areas in town. One of them being there are lots of absentee landlords who have invested there and don’t care who they rent to. This means it can be an unstable area and not the ideal place to be a good, serious, professional landlord or investor.

We heard of new landlords with rentals in the Dog patch complain how it can be difficult to attract good, paying tenants to the area. We have also heard stories from landlords telling us they rented to good, paying tenants but the tenants broke the lease and moved out. They moved out because of crime, noise, and neighbouring properties having lots of junk in their yards.

We also see lots of “for sale” signs in the area, year after year.

Remember: if a rental property is a true “winner” landlords will want to hang on to it for a long time! Usually the best rentals are only on the market because the owner is retiring and moving to Florida or Arizona, or there is a death in the family.

2. Legal Registered Units

The "N" plate show the rental property is registered and legal with the Town of Newmarket

The “N” plate show the rental property is registered and legal with the Town of Newmarket

These properties below are not legally registered with the Town of Newmarket. This is a big danger as tenants can use this against you. It can cost tens of thousands of dollars to register a unit with the Town of Newmarket. This is why we recommend always buying legal, registered rental properties in Newmarket.

31 Hill Street, Newmarket Ontario Sold for $593,000 on July 24, 2016

 31 Hill Street 1

It’s not a bad look.  And tenants love two story rentals.  (Of course, it’s still in the Dog Patch area)

31 Hill Street 2

Living room is clean. Tenants like this look.

31 Hill Street 3

Kitchen is nice. Tenants love nice clean new kitchens.

31 Hill Street 4

Bedroom is pretty good.  It’s got a clean and ‘new’ look that good tenants like.

31 Hill Street 5

Here is the basement unit.  It’s okay because it’s clean. But it hasn’t been designed very well.

31 Hill Street 7

The backyard is pretty good.  Good tenants like to have a back yard that is clean and usable.

41 Longford Drive, Newmarket, Ontario L3Y2Y6 SOLD FOR $550,000 In July 2016

Longford Drive 41 Newmarket Ontario Dog Patch

This isn’t a bad investment but let’s do a critique.

1. Not a prime time area…actually it’s in one of the  “worst parts of town”

The Dog Patch is improving, but it’s still considered one of the worst parts of town for reasons already explained.

2. Not the best neighbourhood…you have rental properties surrounding you and absentee landlords

Do you want absentee landlords as your neighbours? Who knows who they renting to!

3. Not an attractive property…the place needs thousands of dollars of upgrades

Some might even say it looks pretty run down….but it still sold for $550,000! This is the current market for Newmarket rental properties.

4 Ugly yard…it needs a lot of improvements.

This is another factor. Good tenants like nice yards.

5. You want to buy a legal, registered investment property

If you aren’t’ legal than any issue with your tenant means your tenant wins!  And if there is a fire or other issue YOU WILL BE RESPONSIBLE. 

If your basement unit is not legal you can be fined. Your tenants can even use this as an excuse to break your lease or not pay rent.

In Newmarket only buy LEGAL RENTAL PROPERTIES or you can, and will, get burned! You can even get criminally charged!

Futhermore, good tenants want to rent safe and legal properties.


Longford 41 1

The front yard is close to a very busy street.

Longford 41 2

The living room is basic.

Longford 41 3

The bathroom is small and cluttered.  It really needs to be ripped out and replaced.

Longford 41 4

The rooms are basic. The flooring looks to be laminate, the cheapo kind. And, hey, did we see this type of light in the early 1970’s disco boom? Yuck!

Longford 41 9

The living room is…well let’s just say Archie Bunker would like it.

Longford 41 10

Archie and Edith would also like this 40 year out of date kitchen! 

Longford 41 11

The stairs, um, the stairs to what?

Longford 41 5

The basement kitchen is tiny and the cupboards are originals, from the 1970s and needs to be replaced to attract good tenants.

Longford 41 6

The basement only has a shower, and a small sink.

Longford 41 7

There is a washer and dryer in a left over room with horrible flooring.

Longford 41 8

There is just a small one lane drive-way.  This is not good for multi-tenanted unit. It’s important to have parking spaces for both your upper and lower tenants.

Newmarket Landlords Make Sure You List At The Right Price!

The entire Greater Toronto Area (GTA) has seen a lot of house price appreciation. The area has a huge amount of immigration each year and a large economy. We continue to see property owners have their rental properties listed at hundreds of thousands less than what the current market prices truly are!

Even a mediocre rental in the Dog Patch area sells for $550,000 these days. And it’s still good value compared to what rental properties are going for in places like Richmond Hill.

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How To Buy The Right Newmarket Rental Property For The Right Price

June 23rd, 2016 · Latest News, Newmarket landlords, Newmarket Rental Property Prices, Newmarket Southlake Rental Area, Southlake regional healthcare centre

143 Lundy's Lane Sold For $581,800 on June 14, 2016

143 Lundy’s Lane, Newmarket, ON Sold For $581,800 on June 14, 2016

706 Jackson Court, Newmarket, ON sold for $575,000 on February 9, 2016

706 Jackson Court, Newmarket, ON sold for $575,000 on February 9, 2016

With Newmarket Booming, Investors & Landlords Need To How To Buy The Right Newmarket Rental Property at the Right Price

Things keep getting better and better in 2016 for Newmarket landlords.  If you have invested in Newmarket residential rental property this year you’re happy because the situation has never been better. 

In fact in 2016 Newmarket landlords are succeeding like never before. And the best news it’s only just begun and things are getting even better in 2017 and beyond.

Newmarket is a Terrific “New” Market For Landlords…the “Hidden Gem” of the GTA

The entire Greater Toronto Area (GTA) has seen a lot of house price appreciation. The area has a huge amount of immigration each year and a large economy. That means there are a lot of good tenants out there.

Newmarket is on the northern part of the GTA and was kind of the ‘forgotten town’ for many years. Now, with huge growth in the GTA it’s Newmarket’s turn to shine.

People from Toronto and other GTA areas such as Markham and Mississauga view Newmarket as a “inexpensive” and with a huge tenant pool waiting for good landlords renting out good rental properties. Newmarket is booming.

Buy in the Best Areas Of Newmarket

We’ve all heard the old real estate success message of “location, location, location.” This is vitally important for Newmarket landlords and residential property investors. If you buy in a “prime time” area it’s simply far, far, far easier to attract good paying tenants to rent from you.

Unfortunately, we’ve heard that some real estate estates tell new investors “it’s all the same” and “location doesn’t matter in Newmarket.” Don’t believe them! In Newmarket, location and the right property are the key to your success or failure as a landlord!

One the largest rental areas in Newmarket is the area at Yonge St. and Longford Dr. Local Newmarketonians called it “the dogpatch.” While the reason for this name isn’t clear what is clear is that it’s not the best area for rentals in Newmarket. Sure, there are a lot of successful landlords there and a lot of good tenants there. However, good tenants have a lot of options where they want to live.

One of the best “prime time” winning areas where there are good rental properties is is the “Southlake area” near the Southlake Regional Healthcare Centre.

Why Is The Southlake Area A Terrific Opportunity for Landlords and Investors?

Here are some of the reasons:

(1) Growth Area Millions of Dollars in Government Investment

There has been a huge investment at Southlake. It’s a regional hospital, a cancer centre, and expanding fast.

Southlake is the type of key government investment that leads to lots of opportunities for private enterprise.

(2) Major corridor of the health care industry in the GTA

As Southlake grows, so does private industry in the area including medical clinics and retirement communities.

(3) Great Tenant Pool

There are a lot of good tenants in Newmarket. There is also a segment of tenants who keep getting evicted for not paying rent or trashing the property and moving to another rental property down the street every few months.

Buying in a prime time area gives you the first choice of the best tenants in Newmarket! The best tenants want to live in a safe, growing, pretty area like near Southlake over other areas in town like the dogpatch.

The Area Near the Southlake Regional Health Centre Attracts Good Tenants, Including Nurses and Hospital Staff

The Area Near the Southlake Regional Health Centre Attracts Good Tenants, Including Nurses and Hospital Staff

With a Newmarket Rental Property You Get What You Pay For!

Prices in the area near the Southlake Regional Health Centre are usually higher than house prices in the “dogpatch.” And with good reason!

In prime time areas you can more easily find good tenants.

These are tenants who pay their rent on time, respect you, follow the lease, and take care of the rental property. Many new landlords aren’t aware of the destruction a bad tenant can cause you and how important it is to buy a rental property in a good area!

A Couple of Examples of Good Rental Properties That Sold in 2016

It can be hard to find what a property has sold for in Ontario. Some real estate agents like to treat this type of essential information like “gold” and you can be kept in the dark. It’s unfair, especially since you are going to spend hundreds of thousands of dollars and make one of the most important financial decisions in your lifetime!

To help out future landlords here is some information on some recent good rental properties that have sold. They are good rentals, in good locations and a professional landlord who runs credit checks will be on the path to success.

143 Lundy’s Lane Sold For $581,800 on June 14, 2016

143 Lundy's Lane Sold For $581,800 on June 14, 2016

143 Lundy’s Lane Sold For $581,800 on June 14, 2016

This is a property with potential. It’s in a good area and can attract tenants. It’s not a perfect rental property but it’s good. Let’s take a closer look.

lundys lane 3

The living room is spacious and clean.

re 706 10

The kitchen needs to be updated, but it’s clean. We would change that tiling asap if we owned it. And the old cupboards too!

lundys lane 4

We would upgrade the bathroom if we owned this property.

lundys lane 7

The bedrooms are standard.

lundys lane 8

Here are the stairs to the basement unit. We would make some improvements, such as changing the tile.

lundys lane 9

Here is the kitchen for the basement unit.

lundys lane 10

We would improve the downstairs bathroom, especially if we market to all the ultra-clean nurses in the Southlake rental area.

The keys for this property are (1) Great Southlake location (2) It’s a duplex (two income streams)

706 Jackson Court sold for $575,000 on February 9, 2016

706 Jackson Court, Newmarket, ON sold for $575,000 on February 9, 2016

706 Jackson Court, Newmarket, ON sold for $575,000 on February 9, 2016

This is another property that sold in the Southlake Rental Area and not in the “dogpatch. This means it’s in a winning area.

re 706 1

The living room is clean.

re 706 3

The kitchen is nice enough for tenants, although the washer and dryer might be better placed.

re 706 5

Good tenants like clean bathrooms, although we would have upgraded it.

re 706 6

Tenants like backyards and love to have a deck.

re 706 8

The downstairs kitchen is okay. 

Newmarket Landlords – How to Buy in the Right Area and Rental Property Prices

Real estate success is all about “location, location, location.” The above two property are pretty simple properties, yet they are in “Southlake rental area” of Newmarket.  This is a fast-growing, “winning” area of Newmarket.

Make sure you invest in a winning area and avoid the “worst areas of town” (like the Dogpatch) to attract the best tenants and succeed as a landlord!

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How To Succeed As a Landlord – Buy Newmarket Ontario Rental Property

June 5th, 2016 · Landlord Investment Opportunity, Rental Property

Newmarket Landlord Rental property

Newmarket Rental Property – How You Can Become a Successful Newmarket Landlord

It’s been a crazy 2016 for Newmarket landlords. And by “crazy” we mean “crazy good!” It’s been a perfect storm for those of us who own rental property in Newmarket, Ontario.

While things have been going well for Newmarket landlords and rental property investors before, landlords say they have never experienced such terrific market conditions ever before. Even some old, grizzled veterans who have own rentals here since the 1970’s (the type of people who rarely get worked up and almost never get too optimistic!) say now is the best time they have ever seen to be a residential landlord in Newmarket

How Have Things Been “Crazy Good” For Newmarket Landlords?

For a number of reasons. However, from our conversations with experienced and successful landlords there are three main factors which have led to their success.

1. Prices Are Rising Fast

A report in Bidding adieu to the home of your dreams Through The Roof – A Metroland Special Report recently was all about the huge rise in property prices in the entire Greater Toronto Area (GTA) According to York Region, the average price of property went from $605,336 in April of 2015 to a whopping $725,235 in April of 2016!

Furthermore, a detached house in Richmond Hill now sells higher than a detached home in Toronto. One Re/Max realtor who has over twenty-five years of experience in the industry said he’s never seen anything like this before. He just listed a bungalow in Richmond Hill for $899,000. This price quickly led to a bidding war. There were nine bidders and the property sold for $1,430,000.Newmarket,

Ontario Is One Of the Hottest Real Estate Markets

Cam Forbes in the general manager and the broker for RE/Max Realstrong Realty in Toronto. He stated that demand is so strong in Newmarket and the Northern GTA (such as Aurora, Ontario) his brokerage has decided to start a new office in Newmarket, Ontario. According to Forbes, “Our greatest growth is in that office.”

2. Rents Are Rising Fast

As property prices are rising, so are rents. And now landlords has become wise and don’t rent inclusive of utilities.

3. There Are A Lot of Good, Qualified Tenants in Newmarket and Aurora

Experienced landlords tell us there are lots of good, qualified tenants in Newmarket and Aurora these days. These are tenants who respect you and your property and will follow the lease and pay rent on time. These tenants are also qualified, as more and more landlords run credit checks on tenants before ever handing over the keys! 

Should I Buy A Rental Property in Newmarket in 2016?

Now is the time, before prices go up to high.

For example, Newmarket real estate Jarrah said that there were 120 houses listed in May 2016 in Newmarket and 110 of them had quick offers!

The fact that Chinese buyers have “discovered” Newmarket has led to increased sales and prices. The time to buy is now. However, before you buy remember a couple important tips:

1. Buy in the Right Area

Everyone who has experience in buying residential real estate knows the importance of “location, location, location.” This is even more important in Newmarket, Ontario.

Many new investors aren’t aware of the different areas of the town. Furthermore, some local real estate agents like to “hype” certain bad areas to get quick sales, even though they know they are selling the “worst part of the town” called “The Dog Patch” (the area near Longford and Davis Dr.).

Southlake Regional Health Centre Newmarket Ontario

Southlake Regional Health Centre Newmarket Ontario – A great area to invest!

What Are the Best Areas To Buy In Newmarket, Ontario?

There are a lot of good areas in Newmarket.

However, for rental properties the best area is near the Southlake Regional Health Centre. Not only is this a strong, middle-class neighbourhood it’s seen huge price gains and also a lot of good tenants want to live in the area.

Why? Because it’s safe and has lots of parks and good schools. There are also a lot of nurses who will want to rent from you in this area. The best rental street in Newmarket is Patterson Street and the streets close to it.

What Are the Worst Areas To Buy in Newmarket Ontario?

Many of our most experienced landlords have been burned/lost money buying in what is called The Dog Patch. This is the area on and near Longford and Davis Drive.

We see lots of real estate agents “hyping” this area and it’s a place where experienced landlords avoid. We’ll have another blog on the reasons why soon but in general it just doesn’t attract the same quality of paying, respectful tenants that an area near the Hospital does. You’ve been warned!

2. Not All Rental Properties Are Created Equal

It’s also important to buy the right type of property. Most of our experienced and successful landlords buy legal duplexes in Newmarket. Getting two income streams from 2 units is important. Just make sure you only buy a LEGAL REGISTERED rental property.

How Can you Become a Successful Newmarket Landlord?

Newmarket is one of the fastest growing real estate areas in Canada in 2016. Investing in Newmarket means prices gains.

It also has a lot of good tenants and if you buy the right, winning “legal” property you are on track to become a success landlord!

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Newmarket Landlords Ask How Much Should I Charge For Rent?

February 4th, 2016 · Latest News, Newmarket landlords, Newmarket rental rates, Rental Property

Newmarket landlords rent price Aurora Bradford Keswick

How Much Should Newmarket Landlords Charge For Rent ? And Should Newmarket Landlords Include Utilities?

Don’t Be Ripped Off By Tenants Wanting To Trick You Into Below Market Rent and Inclusive of Utilities!

Many landlords who have invested in Newmarket rental properties are excited about this great opportunity. After all Newmarket, Ontario is a growing place with real estate prices rising fast.  York region experienced a house price rise of over 14% from 2014 to 2015 and Newmarket is one of the fastest growing areas in York Region. We have so many advantages for people moving here. Newmarket has lots of offer including:

1. Great Shopping

There is a ton of great shopping Newmarket. You don’t ever need to leave to find what you want. For groceries we have Metro, Food Basics, No Frill, Superstore, Wallmart and Costco.  If you are into organic food we have the very popular Nature’s Emporeum.

2. Good Access To Toronto

We have easy access to the 404 highway. And you can always take Yonge St., Bathurst or even Woodbine or Jane St. to Toronto. We also have fast access to high 400. Newmarket is a great transportation hub.

3. Lots of Infrastructure Investment

Have you seen Davis Drive these days? It’s awesome. And there is more investment in the hospital, court house and on Yonge St.

4. Lots of sports, parks, and green space

Newmarket is known for our sports and green spaces. Check out Richardson Park, it’s huge and full of family friendly fun.

5. Friendly People

We are growing area, but still with small town friendliness.

6. Reasonable real estate prices compared to other areas

While Newmarket real estate prices are rising (including rent) we are still very reasonable compared to many other areas, even in the GTA.

More and more people want to live in Newmarket. This has led to lots of population and economic growth. lt also means we have seen lots of residential real estate investors putting their money into Newmarket rental properties and leading to large price gains for Newmarket rental properties.

And why not?

Rents are healthy and rising in Newmarket, and there is a large and growing group of excellent tenants who want to live here.

Even people who work in Toronto are looking to Newmarket for the great shopping, easy access to Toronto, the improvements going on, the green spaces, and the friendly community.

Newmarket is growing, but it still has that ‘small town friendly’ community that’s great for families. Newmarket is a terrific place to invest in.

1. How much should landlords charge for rent in Newmarket, Ontario?

With purchase prices rising in Newmarket, rents are rising too! Investors need to cover their mortgages (and hopefully get some cash flow to cover repairs and maintenance costs.)

So what are experienced and successful landlords charging for rent (and getting from qualified tenants)?

(a) Basement Unit in your own house

What is a fair rent for renting out your basement apartment in Newmarket? At least $900 to $1000+/month (tenant pays for utilities)

(b) Upper Unit  in a duplex

What is a fair rent for renting out? Normal rates are $1500 to $1600 +/month for 3 bedrooms (tenant pays for utilities)

(c)  Lower Unit in a duplex

What is a fair rent for renting out? At least $900 to $1000/ month + (tenant pays for utilities)

(d) Single Family Home

What is a fair rent for renting out? $2000 to $2500+/month (tenant pays for utilities)

(e) Room

What is a fair rent for renting out? $600 to $700/month (usually the house owner will pay for utilities)

2. Should Newmarket landlords include utilities with rent?

Many new landlords believe renting ‘inclusive’ of utilities is the smart way to go. After all, they think, this means you only need to get one cheque per month and it makes being a landlord simpler.

This is 100% wrong!

Why Newmarket landlords should never rent out inclusive of utilities (make your tenants pay for what they use!)

Here are just some of the reasons experienced and successful landlords stay:

(a) Utility rates are always increasing

You have no control of your costs. If you are paying for power you never know how much is will go up later.

(b) Tenants WILL abuse what they don’t pay for

They will. It happens all the time.

If you rent inclusive experienced landlords know you will face tenants who open windows in winter while the furnace blasts on, and open windows in summer while the air conditioners blast on.

And if you ever have to evict a tenant they can easily abuse the utilities to ‘punish you’ and ‘get revenge’ against you.

For example, you serve them an N4 for an eviction for non-payment of rent.  The Landlord and Tenant Board process is very slow (as you can see from the Ontario Landlords Association post about the need to fix the LTB process) and while the process is going on the tenants can add up your bills by wasting water and power.

(c) It’s Now Common For Tenants To Pay For What They Use in Newmarket

There are lots of experienced and successful (and wealthy!) landlords in Newmarket and they make sure tenants pay for what they use! It’s not complicated and experienced and successful landlords make sure tenants pay for what they use.

3. Is it a good idea to use a Realtor/Real Estate Agent to rent my property out?

Many new landlords think hiring a Realtor or Real Estate Agent to find tenants and rent out your place is the smart way to go. 

It’s not.  In fact, using a real estate agent can be a recipe for disaster!

Experienced Newmarket landlords have seen the same real estate agents rent out properties for years…and they often rent out to bad tenants!  In fact, we’ve seen lots of landlords/residential property investors sell their rentals in Newmarket because the real estate agent put in bad tenants!

If they do rent out to bad tenants, you are stuck with them and the real estate agent won’t take any responsibility. We recommend you find your own tenants. And if you do get a real estate agent who wants to find tenants for you ask them if they will ‘guarantee the tenants’ for a year. This means if the tenants don’t pay, do damages or break the lease, the real estate agent found them will be responsible. How many will agree to do it?

If you want to find your own tenants you can join the Ontario Landlords Association and get all the documents you need to succeed. You also get a great deal on running your own tenant credit checks. They are easy to run from your own home computer.

4. What are some other challenges Newmarket Landlords face when renting to tenants?

First, you need to screen very carefully. While there are a lot of great tenants in Newmarket there are also people out there who will make your life miserable if you rent to them. Make sure you always run a credit check before signing a lease with anyone.

A second challenge is dealing with tenants who are demanding and picky. These are people who want to put a lot of pressure on you before renting your property.

For example, the demand you re-paint the property a colour they like. Or they make excuses and try to negotiate paying $100 more in rent but the landlord will pay for the utilities (ask yourself why they want to do this). These types of tenants know you want to rent out the property and will try to pressure you into doing things you shouldn’t fall for. 

Experienced and successful landlords tell these type of tenants to go look somewhere else (and they always say “Oh, I have other places to look at!” Sure, they do, it’s all part of their game). Don’t fall for these tricks. If the tenant is this difficult and picky before renting your property, imagine what they will be like once they move in(!)

Newmarket Landlords how much are you charging for rent? Make sure you don’t under-sell yourself and your property. Follow the market and rents are going up. Also, make sure you get your tenants to pay for their own usage of utilities.

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