Just finished renovating a suite close to a hospital north of Toronto and was tinkering with the idea of renting it furnished ( short term leases) to visiting doctors and residency students as this is has only recently become a teaching hospital. ( also has been identified to be annexed to Toronto Universtity as a faculty). Spoke with HR and they will put me on their list to show to potential renters.
Questions,
1. What are your experiences with this strategy and is it worth it?
2. How do you price your rents, as there doesn`t seem to be a lot in the area to compare with? If it were a regular rental I would be asking 1150$ inclusive of heat and hydro. As I will be renting furnished, cable, Hydro, Heat, phone and internet, and short term, I was thinking to ask approx 1600$ Does that make sense?
The possibility of breaking into that niche and getting regular business from the hospital is very enticing and I would be willing to take that step to invest to further that strategy.
I would appreciate your views on this,
Dan
--------------------
Peace of mind through better living spaces
Questions,
1. What are your experiences with this strategy and is it worth it?
2. How do you price your rents, as there doesn`t seem to be a lot in the area to compare with? If it were a regular rental I would be asking 1150$ inclusive of heat and hydro. As I will be renting furnished, cable, Hydro, Heat, phone and internet, and short term, I was thinking to ask approx 1600$ Does that make sense?
The possibility of breaking into that niche and getting regular business from the hospital is very enticing and I would be willing to take that step to invest to further that strategy.
I would appreciate your views on this,
Dan
--------------------
Peace of mind through better living spaces