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

October 31st, 2017 · No Comments · 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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