Multifamily Real Estate Insights Podcast
The Real Estate Multifamily Insights Podcast is your trusted source for news, strategies, expert interviews, and actionable tips to grow your wealth through multifamily real estate, in Canada and beyond. Hosted by seasoned investor Sandy Mackay.
Tenant Challenges in Toronto and Insights on CMHC Income Property Insurance
In this episode, Sandy MacKay begins with an introduction and delves into tenant issues in Toronto, exploring the challenges landlords face in this dynamic market. The discussion then introduces the episode's sponsor, CMHC Income Property insurance, and their role in supporting property owners. Sandy provides an overview of CMHC Income Property, discussing eligibility criteria and financing options available for investors seeking to expand their portfolios. The episode concludes with closing remarks, summarizing the key insights and thanking listeners for their continued support. This episode offers valuable perspectives on tenant management and financing opportunities in the multifamily real estate sector.
Key Points
- Tenants in Toronto have been on a prolonged rent strike to demand better living conditions, highlighting significant issues such as fire damage, pest infestations, and water ponding.
- The CMHC Income Property insurance product offers flexible debt service qualification options for investors in 2-to-4-unit rental properties, allowing up to fifty percent of the gross rental income to be included in debt service calculations.
- Eligible borrowers for CMHC Income Property insurance must cover at least twenty percent of the property's value with their own funds, and at least one borrower must have a minimum credit score of six hundred or meet alternative creditworthiness criteria.
Chapters
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Transcript
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