Rental Unit Income

Let’s take a look at a real case that took place in the beginning of this pandemic:

If you choose to purchase this unit as a resale home, $2,200 of rent cannot cover $3,213 of expenses. If you buy this unit as a pre-construction home, in 4 years’ time, your rent will have to be $3,732 to cover your expenses.

Let’s not forget the fact that your unit might have a period of vacancy, which will increase your expenses.

If you want to avoid this kind of situation and profit from your investments, here are two things you need to know:

  1. The economic situation, as a whole, at the time you rent out your unit.
  2. The average expenses of similar units on the market at the time you rent out your unit.

Then you can get a possible range for monthly rent.

You may ask, but aren’t we talking about pre-construction homes? How can we know what will happen in 4 years’ time?

Well, it is possible! New Vision Team analyzes the historic data and statistics of the same location and similar units. We are able to calculate the range for your property’s monthly rent in 4 years’ time. So you can have a number in mind when making your investment decisions.