Condos as Investment Properties

Clearly owning property is a great long-term investment here in Ottawa, Gatineau or anywhere else for that matter. Condominiums are a good investment for both living in and to own as a rental property. The main reason behind this is the community of the rented condo will have a maintenance crew, as any other condo community will have. This is an advantage over owning a single or a multi-family home.

If you think about the latter, as the owner, you either perform all of the maintenance or you pay a series of subcontractors to do the work for you, thus making it an expensive venture. Returning back to owning a condo as a rental property, you are already paying for the maintenance as the owner in the particular community, moreover, you can pass this expense to the renters as part of their rent.

Another aspect of this type of rental property is you can lease the condo as a long or a short-term rental, i.e. seasonal. This would be advantageous if the property was located close to a beach, on a lake, near a ski resort, a race track, or so on. As you are aware by now there are many options and advantages to owning a condominium as a rental property here in Ottawa and Gatineau.

If you travel a lot and stay away from your home for long periods, another option you have is to rent it out during these periods for extra income. Remember also the tax breaks for owning real estate that is used for business purposes. As you can understand as a condominium owner you have more avenues to travel in the real of investment properties when compared to owning single or multi-family homes in Ottawa and Gatineau.