Calgary’s rental market has evolved significantly over the past few years, presenting all kinds of new opportunities for first-time investors and landlords.

That said, becoming a successful landlord isn’t as cut and dry as simply buying a property and finding someone who wants to rent it out. If you’re thinking about becoming a landlord in Calgary, there are a few important things to know before you start looking for an investment.

Keep reading for helpful advice on launching your Calgary real estate investment journey.

As a quickly growing city Calgary ranks as one of the best places in Alberta to invest in real estate. To read our complete list of the top markets for investing click here.

Should I Buy a Rental Property in Calgary?

Calgary consistently ranks as one of the best places to invest in real estate. One of the main reasons for this is the city’s comparatively low costs of housing. Here, investors benefit from more affordable price points compared to some other major markets.

Calgary also stands out thanks to its investor-friendly policies. More specifically, the lack of rent control or regulations dictating how much rent can be charged and when it can be increased. Compared to investors in BC or Ontario, Calgary landlords have far greater control over how they can maximize their returns in the short and long term.

Partner With an Investment Calgary Realtor

Step one of becoming a landlord in Calgary is to talk to a real estate agent – preferably one who actively specializes in working with investors. Just like any other type of real estate purchase, buying an investment property can get intricate in a hurry.

With that in mind, it’s important to choose an expert who has professional expertise in Calgary’s unique rental landscape. Not only can they help you pick the right property, but an investor-specialized agent can also provide guidance on things like finding tenants, pricing, tax and implications – all major elements of a strong investment.

Finding the Right Calgary Investment Property

With a knowledgeable agent by your side, it’s time to find a great investment property. Once again, this process will be a little more nuanced than you may think.

When it comes to ROI, no two Calgary properties are the same. While you can find strong rental rates across the city, some pockets have higher demand from renters than others. Plus, future growth and infrastructure will also influence how your rental property’s value appreciates over time. Your agent’s insights will be critical in finding an investment with low risk and high return potential.

On top of thinking about returns, it’s also important to choose a property that suits your management style. Being a landlord isn’t a full-time job, however, you will be responsible for a handful of property management duties. A property may look great on paper, but if it’s a long way from where you live, it may not be practical.

If you don’t live in Calgary but are still looking to invest here, your real estate agent can connect you to trustworthy local property management services.

There’s a lot that goes into buying a profitable investment property. Consider these related blog posts for even more helpful insights. 

Setting Your Market Price

Once you’ve acquired the right property, it’s time to set your rent. Just like if you were listing a home to sell, it’s important to think strategically when determining your rental rate. Pricing too high could have tenants looking the other way – especially as more inventory arrives on the market. On the other hand, setting your rent too low could leave money on the table.

Your agent’s expertise will once again be invaluable during this process. Using real data from Calgary’s rental market, they can help you pick a price that will attract high-quality tenants without sacrificing returns.

Tenant Due Diligence

Calgary’s population has grown exponentially in recent years, which has been an influential factor in today’s rental landscape. The city’s expanding population (which includes incoming relocators who are reliant on rental housing) means investors typically have a healthy pool of potential tenants to choose from. However, as a landlord, you’ll need to have a strong screening process in place to ensure you find the right tenant(s) for your property.

Planning on buying a home in Calgary? Explore these helpful blogs from our site! 

Ready to Invest?

Searching for the perfect Calgary investment property? You’ll want to work with a local real estate agent with specialized insights and expertise to guide you toward a smooth, profitable investment. Introducing Dolce Real Estate.

As leaders in Calgary’s ever-evolving real estate market, we have the nuanced insights and investor-focused know-how to help you exceed your goals. If you’re looking to make a strong investment in Calgary real estate, we’re here to help.

Ready to invest in Calgary real estate? Partner with Dolce. Call 403.999.5882 to get in touch or send us an email at info@dolcerealestate.ca.

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