Our Blog
Your Trusted Partner in Home Financing
Buying a Rental Property? Look Beyond the Monthly Rent.
October 3, 2026 | Posted by: Craig Nickerson
A property can look promising when the rent covers the mortgage payment. But that's only part of the picture.
Budget for the real cost of owning a rental
Before making an offer, build a realistic budget that includes:
• Property taxes and landlord insurance
• Repairs, maintenance and future replacements
• Utilities you'll be responsible for
• Property management, if needed
• Time between tenants or missed rent payments
• Closing costs and an emergency reserve
Could you comfortably carry the property if it needed a major repair while sitting vacant?
Check the leases and the units
It's also important to review existing leases, confirm that rental units are legal and understand your responsibilities as an Ontario landlord.
Line up the financing early
Financing deserves attention early. Down-payment requirements and the amount of rental income a lender will recognize can vary with the property and your circumstances.
Craig can help you review mortgage options and understand how the proposed purchase fits alongside your existing financial commitments. Learn more about investment property mortgages.
Whether it's your first rental or your next investment, start with a plan that accounts for the unexpected.
Call or text Craig at 613-394-5810 or email craig@simpligomortgages.com.
Financing is subject to lender approval and property requirements.
