The Trinity Bellwoods neighbourhood takes its name from Trinity Bellwoods Park, built around the former Garrison Creek ravine. The park sports a range of attractions including tennis courts, a playground, a hockey rink, a greenhouse, a community center, and a swimming pool just to name a few. Plenty of art galleries, bookstores, bars and boutiques draw a huge amount of foot traffic to this Toronto pocket.Chinatown is also within walking distance to this fantastic neighbourhood, as is Kensington Market, a hip, pedestrian friendly district that attracts tourists and locals alike for it’s eclectic array of restaurants and shops. Known for its Victorian and Edwardian homes plus the bustling activity on nearby Queen and Dundas Streets West, this area has become
If you’ve been following my recent blog posts, you’ve seen me explore some of the legal responsibilities one faces when investing in a rental unit, whether it be within your own home or otherwise. Once your unit has been retrofitted and issued an occupancy permit, it’s now time to rent it out. Pricing your rental property is one of the more important tasks you’ll face as a landlord. Getting top dollar is important when it comes to meeting your financial goals; however, if you set the rent too high, you’ll have trouble finding tenants or experience high turnover as renters seek out more affordable alternatives. Many first-time landlords choose to consult with a property manager when it comes to pricing their
Owning a home with a second and separately contained rental unit can have tremendous benefits for the average property owner. Not only do rental units have positive effects on a home’s value, but the income generated from a rental suite can also help to significantly improve affordability for homeowners. Mortgage expenses can be offset through the extra income, and who doesn’t love an increase to their monthly cash flow? While there may be plenty of advantages to owning an income property in Toronto, it’s important to note the rules and responsibilities involved with operating a second unit within your home. Whether a rental unit is ‘legal’ depends entirely on building and fire code issues, plus any municipal zoning bylaws that
