Knowing what a potential revenue property will rent for is the most important and most difficult part of establishing a rental portfolio that has positive cash-flow and creates serious passive income. To help out my clients, readers and all you investors, I’ve teamed up with several investors, Realtors and property managers to come up with some ballpark numbers which should help make your lives a little easier.
There’s a significant variation between the different areas of Edmonton, and within the different property types. Here are the highlights.
- The survey receieved responses from companies and individuals managing 744 units, with specific data for properties rented out in the past 30 days. Some additional data has been gathered by conversations with property managers. There are still gaps, so if you can contribute to the next edition of this report, please feel free to contact me.
- The greatest variance is seen in 4-bedroom houses, from $1400-1800/month, likely owning to the wider variety of product quality.
- Apartments and Townhouses made up the largest classes of properties held by contributors.
- St Albert, the South, West and Millwoods seem to hold a $100-200 premium over comparable units in the North.