Anna Mate

With most businesses going global due to internet based sales, a many fold increase in foreigners arriving require housing. Traditionally, these stay in hotels but at daily rates, a long duration stay can become very expensive. Thus, some businesses have opted to house their long duration visitors to condos that lease out at cheaper weekly or even monthly rates. Also, visitors often come as a party rather than singly and a multi-room condo will fit them nicely. A Real Estate Agent will come in handy for working out an arrangement with condo renters and businesses.

Thus, with such a business booming, investment in condominiums, especially for pre-sold units, can bring a large income. In fact, financing a US$240,000 an already built condo purchase with a bank loan for 10 years at 10% per year balance based interest rate will have a total payable of US$360,000 or US$36,000 a year or just US$3,000 a month. Renting it out at US$6,000 a month will still just be US$200 a day, cheap for traditional hotels. Toronto is a busy city that brings in lots of visitors and their business. A Toronto Real Estate Agent can be handy at arranging the necessary accommodations required by business.

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