by Toronto Units 
Residential rental business has been very profitable and secure investment in the last two decades and it continues to stay lucrative business in the foreseeable future.
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1.Rental Demand
You have to know the area where the rental demand is worth investment. Normally, the big metropoles where the employment rate is high, is a good place for real estate investment. Research the rental market to determine demand for different types of residential rentals properties.
2.Offer lower rent.
Try to list your place slightly at lower rent to stand out among your competitors. Remember, renting your unit for 12 months at 5% lower rent is better than renting it for 6 month at 5% higher rent and keeping it vacant for the rest of 6 months.
3. Advertising.
Make sure you advertise your rental, preferable with online forum, newspapers and social media to get the maximum visibility among prospective renters.
4. Screen Tenants.
Perform Credit and employment check on the rental applicants in order to avoid getting tents who could potentially becomes liability rather than asset.
5. Property Maintenance.
Try to keep your property maintained through regular maintenance and upgrade. This way your rent is happy and it will attract any potential new tenant.
6. Local Laws.
You should know all the local, provincial and state laws regarding the rental properties, landlords and tenants. This will help you maintain a good landlord and tenant relationship.
Research and prepare ahead of starting your rental business. This way you will avoid any unpleasant experience which may put you in financial hardship.
