Investor · Toronto, Ontario · Member since 2016 · 9 posts · 0 votes
I have recently closed a deal on a 4-bedroom ( 4 en-suite bedrooms) house in King City, Ontario (This is my primary residence) and I am interested in reducing some of mortgage payments through short-term rental.
My understanding of King City is not a typical place for short-term rental, I just wonder if anyone could provide me with some advice? I have checked the data on AirDNA but couldn't see the entire data since I haven't subscribed the membership.
I am also interested in finding out whether my house in King City is suitable for applying for Secondary Suite program ( we have an unfinished basement with seperate entrance) and any other strategies to increase the income stream on the property?
Rental Property Investor · Indiana...mostly · Member since 2019 · 468 posts · 245 votes
7y
Hi Michael,
Although I lived in Etobicoke for almost a year many years ago, I'm unfamiliar with the market in your area today. In general, I suggest looking for a Real Estate agent that specializes in finding tenants. That sort of RE will likely know the answers to the suitability questions. If you're totally new to the area, I would look for a rental like what your are considering renting out. That would lead you to the sorts of agents that represent those types of rentals.