Selling an income property
How the value of a plex is determined in Ville-Marie
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 Ville-Marie 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.