There is a terrific story from the Newmarket Landlords site that should interest all Ontario landlords. It’s about about the success landlords and investors are experiencing investing in Newmarket.
These Newmarket landlords are doing very well and are making profits as small residential landlords.
Where is Newmarket Ontario?
Newmarket is in the Greater Toronto Area (GTA). It on the northern edge of the GTA.
The GTA has experienced a lot of real estate growth over the past couple of years and is a region that has experienced huge population growth and huge price appreciation recently. With such a strong market, house prices have risen $100,000 on average in only one year accord to the Average price of a GTA home up more than $100,000 in a year.
In 2013 MoneySense magazine ranked Newmarket as #10 out of 200 hundred other cities in all of Canada.
MoneySense also rated it #4 out of all the ‘Best Small Cities’ in Canada and as one of the best places to live.
Why Are Newmarket Landlords Happy?
Experienced and successful landlords know the importance of renting to good tenants. The Ontario Landlords Association regularly warns new landlords about the unfairness of the Residential Tenancies Act and how renting to one bad tenant can end up costing you thousands of dollars. The Ontario Landlords Association says the Ontario rental system must change.
We know that while many tenants are good tenants, but the reality is there are also a lot of “pro tenants” out there who will rip off the landlord.
Reasons To Invest In Newmarket Rental Properties
There are a lot of reasons to invest according several articles about Newmarket landlords.
1. Good Tenants
2. House Prices Are Rising
3. Rents Are Rising Fast
What Are the Best Areas To Invest In Newmarket?
The best area is near the hospital. It’s called the South Lake Regional Health Care Centre.
What Areas Should I Avoid?
Avoid the “Dog Patch” area.This is an area full of rental units at Yonge St. and Davis Drive. One of the problems there is many landlords are ‘absentee landlords’. This means why you can be a professional and careful landlord the rest of the rental units on the street might be very run down. Many real estate agents call “the dog patch” the “worst area of town.”
Newmarket Landlords Success
Landlords are doing well across the Greater Toronto Area. One area that is catching the spotlight in 2016 in Newmarket, Ontario. Make sure you invest in a “prime time” and winning area and you are on the path to success. Experienced Newmarket landlords warn newbies to buy the right properties at the right price.