Monthly Archives: December 2012

With the housing market finally getting back on its feet, this is a good time to invest in real estate. Some enterprising individuals are purchasing apartment units not to live in, but to rent out or sublet for a profit. While additional income is the goal of these investors, many apartments remain empty for several months due to poor management decisions.

One key factor when marketing these units is to always include good- quality photographs of the place. Even if there’s a wall of text praising the beauty of the apartment, most people won’t get past the second sentence without pictures.

Since this is a business opportunity, landlords should make themselves available to potential clients. Always ensure that someone is at the apartment to show off the unit, and make sure that the place is clean and presentable.

When people show up to view the unit, be upfront with them. This isn’t a good place to hide some dirty laundry as renters will find out about them sooner or later. A good landlord will ensure that the apartment is livable, no matter how small the unit is. Get familiar with the Residential Tenancy Board rules. Set a monthly rental fee that is on par with the market, and slowly work it up as the months go by. These small tips will help keep the apartment occupied for most of the year.

Contrary to what many people believe, a car lease is not a very good investment. When looking at the bare facts, a lease can actually cost the owner more than he realizes; the vehicle can lose as much as 20 percent of its market value during its lease life. In addition, the usual maintenance costs can reach several hundred dollars even for brand- new cars.

When someone leases a car, he basically purchases the right to drive that car for a finite period. Most leases are around three years, with some lasting as long as five years. At the end of the lease term, the driver has the option of purchasing the vehicle. Most people however don’t go with this option and instead trade in their old leased vehicle for a new one.

While this might seem more practical in the short run, in the long run it basically means that the driver is paying for his car for the rest of his life. It becomes a perpetual rental with no benefits of true ownership.

Of course, there are some advantages to leasing such as having a new vehicle every few years, but in terms of costs, this advantage can get old really fast. For those who are more concerned with expenses rather than appearances, an automobile lease might not be the best choice as a long- term solution.