Cashflow on Rental
Hello my husband and I live in Toronto two story house, and we rent out our basement. Basement constitutes 1/3 of the property. How do we calculate if we are in the cash flow positive or negative while renting the basement. Here are the monthly income/expenses:
Income
Rent: 1000
Expenses
Electricity: 300
Gas: 150
Water: 110
Internet: 60
Home Insurance: 120
Property Tax: 6000
Maintenance: 50 (estimate)
Mortgage
Interest: 1050
Is it worth continue to rent out, how much cash flow per month are we getting from it?
Income
Rent: 1000
Expenses
Electricity: 300
Gas: 150
Water: 110
Internet: 60
Home Insurance: 120
Property Tax: 6000
Maintenance: 50 (estimate)
Mortgage
Interest: 1050
Is it worth continue to rent out, how much cash flow per month are we getting from it?
Last edited by maxineli on Feb 1st, 2021 11:16 pm, edited 1 time in total.
full time realtor + medical professional