Selling an income property
How the value of a plex is determined in Montréal
A plex buyer looks at the numbers first. We combine the gross income multiplier, net income, price per door and sales of similar buildings in Montréal and the surrounding area, then adjust for the building's condition and the potential for rental income.
The documents to prepare
- Current contracts and renewal notices.
- The list of rents, included services and vacant units.
- Municipal and school tax bills.
- Insurance premiums and energy bills.
- The work that has been done: invoices, permits and warranties.
- The certificate of location.
Selling with tenants
Leases stay with the building: the buyer takes them over as they are. To show a unit, the tenant must be given 24 hours' notice; we group showings together to limit the disruption.