Like any business professional on the move, Jamie Rogers, a recruitment specialist at Calgary-based engineering firm Hatch, likes to network. But his sphere of influence is a little out of the ordinary.
Mr. Rogers is a firm believer that international experience is a terrific advantage in the Canadian workplace. That's why he spends a lot of time working with immigration agencies, colleges and other associations to meet, greet and mentor new Canadians.
His passion for helping immigrants find employment goes back to the time he spent working abroad after graduating from university. "That experience gave me real insight into how businesses work out there and the many similarities," he says.
`For investors depending on capital appreciation as their primary strategy, they`re definitely going to be more sensitive, or at risk, if property insurance costs do go up,` investor Marcel Greaux, managing partner at Dream Fund Holdings in Ontario, told CRE. `That`s less so for investors who are using the cash flow strategy, or buy-and-hold strategy.`
The analysis follows a warning from Canadian insurers this week, suggesting property and home insurance premiums are set to climb by as much as 10% to 20% over the next two years.
4 questions to ask before buying a rental property
If you're thinking of purchasing an investment property to rent out to tenants, you will need to do some serious research. There's much more to being a landlord than putting up an ad on Craigslist -- it's like taking on a second job. You will need to factor in realistic financial projections, and carefully weigh the pros and cons of your decision.
Here are a few things to consider before purchasing a rental property.
1. Do you have enough saved for the down payment?
Under Canada's new mortgage rules, you must come up with a down payment of at least 20 per cent for a small rental property holding from one to four units. This rule does not apply to borrowers whose principal residence also includes rental units.