Real Estate

Ottawa Real Estate market discussion

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Deal Addict
May 18, 2015
1308 posts
362 upvotes
Ottawa,Ont
michelb wrote:
May 24th, 2017 9:30 pm
Mods, if this is too off topic, feel free to let me know by pm and I'll start a new thread with the info.

I don't actually know how Uber does it (I suspect they are more like a job) but as far as "paying for the service", it's the same, the company handles all payments and the guest and the host never exchange money. As far as getting paid, for AirBnb, basically you provide your banking info and they transfer the money into your account the day after the person arrives except for stays >30 days in which case you get paid monthly.

I pretty much don't screen anyone but I'm renting out a whole apartment rather than space in my house so it's different. FWIW, in one year we've had one bad guest - I probably wouldn't have screened them out anyway but my wife met them at the apartment and didn't like them right from the start. I have a couple of cleaning ladies so I pretty much never clean myself (although it's pretty frequent that I'll start the laundry before the cleaning lady arrives because that's the part that takes the most time (even with just a 1 bedroom apartment, I pretty much always need 2 full loads (one sheets / blankets / etc, one with towels, face clothes, dishrags, tablecloth, etc) so that takes often takes about 3 hours - I should note that I charge a cleaning fee that pretty much covers what I pay the cleaning lady. Maintenance I do little things myself but I have a handyman for pretty much any bigger job. I don't use a property management as I do everything myself but if I wasn't in the area, I would use one. That said there are basically two types : one that handles everything including putting on AirBnb and finding tenants. The other only takes care of managing the cleaning, getting calls if things are any problems, checking on the place, etc (I would use this type if I had to).

I think I probably spend 2-3 hours / week dealing with it but it's hard to say accurately as I don't track it at all. I'm at a computer all day so it's quite easy for me to reply within a few hours to any request which does help although you can probably do it just replying in the evening (except when your tenants themselves have questions in which case you pretty much need to be available within a reasonable time). I used to greet all the guests when they arrived and when they left but now I pretty much always let them get the key themselves from a lockbox.
Curious as to what part of the city your apartment is located and how it is doing on AirBnb?
Deal Addict
Jan 15, 2017
2197 posts
1510 upvotes
BiegeToyota wrote:
May 24th, 2017 9:03 pm
A question for the guy with AirBnb.

Are buildings on Ottawa generally open to this activity? I know my and many other condos in Toronto strictly prohibit short term rentals.

I am a non resident and would love to have a place with short term tenants because if I ever return to Canada I could use my place instead of paying thousands for hotels.

Also, are there any property managers who specialize with AirBnB rentals that will greet the guest and take care of cleaning afterwards?
It was a recent court case in Ottawa actually that brought the issue of short term rentals and condos to the fore front. In the case, the judge decided that short term rentals violated the single family use provision of the condo's declaration. Changing a declaration is quite difficult, and the declaration trumps the rules imposed by the board. In other words, the board does not need to introduce new rules that ban short term rentals, it only needs to rely on the single family use provision in its declaration.

https://www.thestar.com/life/homes/2016 ... ntals.html
http://business.financialpost.com/legal ... -as-airbnb
Deal Addict
Dec 23, 2010
1384 posts
716 upvotes
Moon
nikels21 wrote:
May 25th, 2017 7:54 am
The design books are different based on what subdivision you purchased in
I bought in Abbotsville but I also don't see them varying that much... It should still give me a reasonable idea of the options available.
Deal Addict
User avatar
Dec 13, 2016
2949 posts
2331 upvotes
Is Gotham condo (224 Lyon) really as bad as I am finding out? Do you know anyone who lives in this building? What are the chances of condo fees skyrocketing in the next 5 years.... that's approximately how long I would like to keep it.
Deal Addict
May 18, 2015
1308 posts
362 upvotes
Ottawa,Ont
BiegeToyota wrote:
May 26th, 2017 3:32 am
Is Gotham condo (224 Lyon) really as bad as I am finding out? Do you know anyone who lives in this building? What are the chances of condo fees skyrocketing in the next 5 years.... that's approximately how long I would like to keep it.
I would expect them to increase by at minimum 100$/month. They underfunded their reserve by offering extremely low condo fees to people who bought pre-construction
Deal Addict
May 18, 2015
1308 posts
362 upvotes
Ottawa,Ont
Applesmack wrote:
May 25th, 2017 7:21 pm
I bought in Abbotsville but I also don't see them varying that much... It should still give me a reasonable idea of the options available.
I know the kitchens specifically vary quite a bit as the suppliers are different based on the subdivision. They currently use Deslauriers, Laurysen and Potvin dependent on the subdivision. Check out buildinghomes.ca though as there are a few people with the same model there
Deal Addict
Nov 13, 2013
1569 posts
610 upvotes
Ottawa
nikels21 wrote:
May 26th, 2017 7:51 am
I would expect them to increase by at minimum 100$/month. They underfunded their reserve by offering extremely low condo fees to people who bought pre-construction
The fees look very low to me and I would expect even more than a $100 increase. I would think something like a 50% increase over the short term.
Looks like a good building and remaining inventory is well priced.
Newbie
Sep 14, 2016
7 posts
hello folks,
I was evaluating the townhomes at Mattamy Abbotsville as an investment property and am being discouraged by my realtor who said that Hyrdo corridor is a big hurdle to renting & selling. Could you pls give me your thoughts on it? Is it a hurdle or is it that the realtor has to work a little harder? Is selling an issue?
thnx
Deal Addict
May 18, 2015
1308 posts
362 upvotes
Ottawa,Ont
buntyb wrote:
May 26th, 2017 12:36 pm
hello folks,
I was evaluating the townhomes at Mattamy Abbotsville as an investment property and am being discouraged by my realtor who said that Hyrdo corridor is a big hurdle to renting & selling. Could you pls give me your thoughts on it? Is it a hurdle or is it that the realtor has to work a little harder? Is selling an issue?
thnx
Not a big hurdle for renting...bigger hurdle for selling
Deal Addict
Oct 3, 2004
3925 posts
691 upvotes
buntyb wrote:
May 26th, 2017 12:36 pm
hello folks,
I was evaluating the townhomes at Mattamy Abbotsville as an investment property and am being discouraged by my realtor who said that Hyrdo corridor is a big hurdle to renting & selling. Could you pls give me your thoughts on it? Is it a hurdle or is it that the realtor has to work a little harder? Is selling an issue?
thnx
It will take a lot longer to sell
[OP]
Deal Addict
Nov 26, 2004
2282 posts
361 upvotes
buntyb wrote:
May 26th, 2017 12:36 pm
hello folks,
I was evaluating the townhomes at Mattamy Abbotsville as an investment property and am being discouraged by my realtor who said that Hyrdo corridor is a big hurdle to renting & selling. Could you pls give me your thoughts on it? Is it a hurdle or is it that the realtor has to work a little harder? Is selling an issue?
thnx
You should ask your realtor to pull up sales activity at Blackstone, the neighbouring development, that is similarly affected by the Hydro Corridor. If resale homes at Blackstone is selling, I can't see why there should any problem with homes selling at Abbottsville Crossing. Remember, Mattamy is only paying 1% to buyer's agent, I believe that is lower than what other developers such as Urbandale pays, and definitely less than what most seller from MLS pays.

Also, I'm not sure if your realtor is aware:
- Metrics Homes is also building right next to Abbotsville Crossing (Fronts on to Terry Fox, where Mattamy Sales Center is currently located) so they are similarly affected by the Power line. And the singles they are building there starts in the low $500ks and goes up to $800ks. http://www.metrichomes.com/project.php?id=17
- Richcraft owns the land adjoining Abbottsville Crossing (west of it) (similarly affected by the Hydro Corridor) and they tend to build above average products in the Ottawa market.

When you put everything on a map, Abbottsville Crossing is connected/surrounded by higher end builders (West- Richcraft; East - Metrics; South - Cardel). Therefore, from a pure speculative perspective, these neighbouring, more expensive communities should help pull up the Mattamy's homes value.

With that being said, don't pick a lot that is immediately next to the Hydro Corridor.
Deal Fanatic
User avatar
Dec 27, 2009
6560 posts
3718 upvotes
Ottawa, ON
buntyb wrote:
May 26th, 2017 12:36 pm
hello folks,
I was evaluating the townhomes at Mattamy Abbotsville as an investment property and am being discouraged by my realtor who said that Hyrdo corridor is a big hurdle to renting & selling. Could you pls give me your thoughts on it? Is it a hurdle or is it that the realtor has to work a little harder? Is selling an issue?
thnx
I'd say it is definitely a hurdle for selling. Many people don't want to be near those.
Deal Addict
Jul 4, 2004
4572 posts
739 upvotes
Ottawa
nikels21 wrote:
May 25th, 2017 7:57 am
Curious as to what part of the city your apartment is located and how it is doing on AirBnb?
Mine's in the East End close to St-Laurent / Montreal - not a great location but not terrible. I haven't checked the days but I think it's probably close to 90% occupancy in the past year (I really should calculate it)
skeet50 wrote:
May 25th, 2017 10:53 am
It was a recent court case in Ottawa actually that brought the issue of short term rentals and condos to the fore front. In the case, the judge decided that short term rentals violated the single family use provision of the condo's declaration. Changing a declaration is quite difficult, and the declaration trumps the rules imposed by the board. In other words, the board does not need to introduce new rules that ban short term rentals, it only needs to rely on the single family use provision in its declaration.

https://www.thestar.com/life/homes/2016 ... ntals.html
http://business.financialpost.com/legal ... -as-airbnb
I think that's only valid if the condo as "single family use provision" in their declaration (mine didn't) but my condos simply changed the rules and added minimum rental periods (6 months) and explicitly prohibit short-term rentals. They proposed the rules and then approved them a month or two later.
Member
May 23, 2017
265 posts
85 upvotes
What are people's thoughts about livability and resale value for a townhouse near Strandherd/Fallowfield? The house is not directly backing onto either of the roads, but the neighbourhood is pretty much right at the intersection so I'm a bit concerned about noise pollution (especially with the plane takeoffs in that area as well). Also, it is a freehold townhouse but with a small monthly fee for maintenance of the private road. I expect this to affect resale somewhat, but would it be significant? (I am hoping the fact that it's so close to the highway, making commuting easier, will increase resale value to balance this out.)

Finally, I've heard that for townhouses, end units sell much easier than interior units. Is that correct?
Deal Fanatic
User avatar
Jun 28, 2003
9827 posts
2968 upvotes
Ottawa
jk9088 wrote:
May 26th, 2017 6:28 pm
What are people's thoughts about livability and resale value for a townhouse near Strandherd/Fallowfield? The house is not directly backing onto either of the roads, but the neighbourhood is pretty much right at the intersection so I'm a bit concerned about noise pollution (especially with the plane takeoffs in that area as well). Also, it is a freehold townhouse but with a small monthly fee for maintenance of the private road. I expect this to affect resale somewhat, but would it be significant? (I am hoping the fact that it's so close to the highway, making commuting easier, will increase resale value to balance this out.)

Finally, I've heard that for townhouses, end units sell much easier than interior units. Is that correct?
Is this one of the townhouse built by Phoenix or Richcraft/Claridge? Close to Tartan's Heavencrest community? If so I am quite familiar with the area as I drive by here almost everyday on the way to work.

You are right this area is under the flight path and it can get busy/noisy but the upside is it is right besides the highway and all the shopping once the other tenants start to occupy spaces besides the Costco. The monthly maintenance fee can be a small deterrent but I don't think it is a deal breaker.

There is a certain appeal about end-units townhouses than interior ones. We know as we used to own one. You only have 1 neighbour to deal with and the end-units are generally bigger. I don't know if they are necessarily much easier to sell than interior units because it all depends on the prices but given a choice and if the price is right, I would like to think the interested buyers tend to lean towards the end-units.
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