May 18, 2024

Property Management Tips, RYPM Resources

RYPM

The increasing popularity of multi-family properties in Courtice has been a general trend in the Ontario real estate market, where smart investors realize all the benefits of owning residential complexes. At Royal York Property Management, we are familiar with the challenges and rewards of managing such properties.

Royal York Property Management combines great service and expertise to satisfy the needs of landlords, investors, and tenants across the country, making it one of the major property management companies in Ontario. We deal with a vast portfolio of more than 22,000 properties worth over $10.1 billion and grow trust in the real estate area daily.

In this blog, we go into more detail regarding Courtice's best practices in the management of multi-family units to make sure landlords can get the most of their investments while enjoying the best relations with their tenants.

Understanding the Courtice Rental Market  

Courtice, situated between Oshawa and Bowmanville in the Durham Region, has its own unique flavor of a rental market, which combines the best of both worlds—city-living benefits and small-town charm. Courtice's rental market is currently booming due to its unique charm, which attracts young professionals, small families, and retirees. Nevertheless, multi-family units have become especially popular in this area, with affordability and a sense of community being the two most popular reasons for this. With average rental rates constantly climbing, landlords need to be aware of local trends, such as average rent prices, tenant demographics, and popular amenities, so that they may set competitive prices and develop effective marketing plans.