Apartments for Cheap

Questions and Answers

Your Questions About House Rent

July 16, 2012

Michael asks…

How is the house rent in canada specially for foreign workers?

is the house rent in canada expensive? im planning to work in canada as a working visa.

Administrator answers:

Depends on the part of the country you’re going to be living in. And it makes no difference that you’re a foreign worker.

Nancy asks…

How much would a million dollar house rent for?

If the purchase price is about 1 million, how much would one expect to rent it for?
Is there some kind of rule of thumb for house/apartment rentals?

Administrator answers:

It really depends on the housing prices in that housing market and if it’s reflective in how much it can rent for.

For example one of my clients rent a $800K (market value) assessed property for $2500/month. There’s people who rent $1 Million properties for $5000/month. It’s not an exact science nor is it always about the price of the home. You can buy crappy $1 Million homes in Vancouver, Canada and that home moved to a place like Portland, OR would be worth only $250K. So it all depends on the housing market you’re in and the location of the home, size, etc.

James asks…

I recently moved to India. How much should my house rent be as a percentage of my CTC or basic salary?

I have recently moved to Chennai. I am planning on renting initially, at least for the first year. I was wondering if there is a recommendation as to what should one’s house rent be, as a percentage of one’s salary (whether it is the basic salary or the CTC).

Administrator answers:

Around 30% of your basic salary

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