Upscale condo for rent in Bridgeland....

[Leapfrog]

Long time reader... first time poster ...

I have a condo for rent in Bridgeland. Awesome location in an awesome building.

Details below:

https://www.rentfaster.ca/calgary-co...lTVElORzE5MjA2

[shermanator]

$1850 for a 2 bedroom? Yeesh...

Sounds like someone just wants their mortgage paid in full by someone else every month.

[fundmark19]

Originally Posted by shermanator

$1850 for a 2 bedroom? Yeesh...

Sounds like someone just wants their mortgage paid in full by someone else every month.

That is normally how you run a rental property doesn't make sense to rent it for a loss.

Place looks really nice! Shouldn't have an issue finding a tenant

[Huntingwhale]

Originally Posted by shermanator

$1850 for a 2 bedroom? Yeesh...

Sounds like someone just wants their mortgage paid in full by someone else every month.

That's usually what renters do...

[shermanator]

Originally Posted by fundmark19

That is normally how you run a rental property doesn't make sense to rent it for a loss.

Place looks really nice! Shouldn't have an issue finding a tenant

I just can't see anyone renting a 2 bedroom place for $1800, but I guess it's more common than I think...

Carry on

[Rathji]

Originally Posted by shermanator

I just can't see anyone renting a 2 bedroom place for $1800, but I guess it's more common than I think...

Carry on

Keep in mind, it is located in Bridgeland, is in a Condo (so all yard/snow maintenance is done) and has secure underground parking + utilities included.

This isn't exactly a duplex in Cranston.

[Bill Bumface]

That description reminds me of how much I hated spending 6 months on MLS looking for a house and reading English Major drop out-turned realtor descriptions. Nice place though, I like that building.

[jayswin]

Originally Posted by shermanator

$1850 for a 2 bedroom? Yeesh...

Sounds like someone just wants their mortgage paid in full by someone else every month.

Haha, I hate to pile on, but I had to laugh at this post. I agree, it's way better to find landlords that prefer to lose money monthly on their properties.

[Husky]

Originally Posted by fundmark19

That is normally how you run a rental property doesn't make sense to rent it for a loss.

Place looks really nice! Shouldn't have an issue finding a tenant

Actually it does make sense IF what you subsidize is less than the principle debt reduction without taking into effect capital appreciation. Plus the tax loss as well. If my cash flow warrants, and the purchase price is right.

Ill dumb it dopwn:

Mortgage is $5 (total)
Rent is $3
I pay $2.

So for every $2 I pay I get $3 return.

[shermanator]

Originally Posted by Husky

Actually it does make sense IF what you subsidize is less than the principle debt reduction without taking into effect capital appreciation. Plus the tax loss as well. If my cash flow warrants, and the purchase price is right.

Ill dumb it dopwn:

Mortgage is $5 (total)
Rent is $3
I pay $2.

So for every $2 I pay I get $3 return.

This was the point I was trying to make, I just articulated it horribly. IMO if your mortgage / condo fees / property taxes were $1800, and you're charging $1600 for rent, sure you spend $200 a month on the property, but presumably more than $200 is being put towards the principal of the mortgage. So you're not really taking a loss, instead you're paying a X towards the mortgage and having X+Y in principal put towards the mortgage, Y being paid by the tenant.

Anywho, in the end if someone is willing to pay that price, then that's all that matters, not some yahoo's opinion! Speaking as someone who rented an entire house close to the university for $1850 in 2007, the price just seemed high to me.