Originally Posted by SteelTown
We seriously need luxury rentals in Hamilton. There's virtually zero in Hamilton, only one I'm aware of is Chateau Royale.
I agree with this comment still today (as this was last year when this was said). I have a couple rentals within the downtown area of Hamilton, all of which have benefitted greatly after a reasonably priced renovation of about 12,000 dollars and the work being performed mainly by myself. For example, a duplex property near the corner of Victoria Ave N and Wilson St was grossing $1400 a month, but after removing the 'Leave it to Beaver' pink kitchen, reusing the cabinets, painting everything, replacing lighting, floors, doors, counter and backsplash etc it looks like a trendy / downtown property should look like. It now earns $2150 a mth gross! I bought this place, including a garage for $152,000 spring 2012.
I don't mind admitting this as I hope the area does improve and with it also my property value, but there really is a saturation of garbage rentals out there. You have little hope to get a decent income - stand out, get rid of your bed bugs
, cut your lawns and paint it at least!