Looking to connect with student rental/rooming house investors

7 Replies

I have acquired a rooming house about a year ago in Calgary, AB and I am looking to connect with fellow investors to discuss the topic. Information isn't super readily available on those type of properties and they require lots of creativity, I'd love to connect with others to exchange ideas, challenges etc

Hi Anthony,


I owned a couple of licensed rooming houses (16 unit and 13 unit) in Toronto in the past.  Just sold the second one in Feb 2021.  Not sure how much my Toronto experience translates to the Calgary market, but happy to connect if you like.

Hi Chris,

Thanks for reaching out, those are really large rooming houses, what kind of homes were they?

How has your experience been so far with those 2?


Originally posted by @Chris Dimit :

Hi Anthony,


I owned a couple of licensed rooming houses (16 unit and 13 unit) in Toronto in the past. Just sold the second one in Feb 2021. Not sure how much my Toronto experience translates to the Calgary market, but happy to connect if you like.

They were large 2 stores plus basement houses.  The 13 unit for example was had 5 units on each of the above ground floors and 3 In the basement.  They were primarily self-contained bachelor units.  
Experience overall was good.  
- Cash flow was excellent

- Tenant pool was slightly on the lower end

- more turnover than duplexes/triplexes

- we had a property manager looking after the properties which helped a lot with the day to day issues

Originally posted by @Chris Dimit :

They were large 2 stores plus basement houses.  The 13 unit for example was had 5 units on each of the above ground floors and 3 In the basement.  They were primarily self-contained bachelor units.  
Experience overall was good.  
- Cash flow was excellent

- Tenant pool was slightly on the lower end

- more turnover than duplexes/triplexes

- we had a property manager looking after the properties which helped a lot with the day to day issues

Wow that's interesting and did you convert those houses yourself or bought them converted ?

They were already set up as legal rooming house and licensed/inspected by the city.  When we had units turn over, we were able to update them and increase the rents.

Downside is some of the tenants were long term and no real option to increase rents in Ontario.

Originally posted by @Chris Dimit :

They were already set up as legal rooming house and licensed/inspected by the city.  When we had units turn over, we were able to update them and increase the rents.

Downside is some of the tenants were long term and no real option to increase rents in Ontario.

Yeah we are lucky out here with no rent increase restrictions. I'm curious what the conversion process looked like on those property I have never seen that large of rooming house in Alberta, I also like the idea of separate bachelors, right now my rooming house has 7 bedroom with 2 kitchens, 2 bathrooms and 1 living room, it's not ideal but it works.

Bought them after they were converted, but each unit was basically one large room with a separate bathroom.  They had a small kitchen area with a microwave and either small stove or a hot plate.  Nothing fancy, but when you had 13 or 16 units the cash flow was good!