Plex & rental properties
Plexes and rentals, structured to last.
Montreal is the city of plexes. Living in one unit and renting the others can make ownership more affordable. Buying purely as an investment has different rules. Here is how both work.
01
Owner-occupied 2 units
Can qualify with as little as 5% down, with insurance.
02
Owner-occupied 3 to 4 units
Usually require at least 10% down.
03
Pure rentals
Non-owner-occupied properties usually need at least 20% down.
How rental income helps you qualify
Lenders count part of the expected rent toward your qualification. Depending on the lender, they may add 50% to 100% of the rent to your income, or subtract it from the property's costs. Signed leases and the Quebec rent history of the building matter.
What lenders look at for plexes
- Leases, current rents and the condition of each unit
- Heating systems, roof and foundations, often noted in the appraisal and inspection
- Municipal and school taxes, and insurance for a rental building
- Your experience as a landlord for larger or non-owner-occupied buildings
In Quebec, rent increases follow rules set by the Tribunal administratif du logement, so plan your numbers with current rents rather than hoped-for rents.
5 units and more
Buildings with 5 or more units are financed as commercial properties, with different rules, longer approval times and appraisals based on income. We can guide you to the right specialist lenders.
How it works
From first call to the notary, without surprises.
01
Discovery call
Your goal, timeline, income type and down payment. 15 to 20 minutes, no commitment.
02
Your checklist
A personal document list for your situation, shared through a secure channel.
03
Options compared
Rate, term, prepayment rights and penalties side by side, so you choose with the full picture.
04
Approval to keys
Lender conditions handled and your realtor and notary coordinated until funding.
Can I buy a triplex as my first home?
Can I use equity from my home to buy a rental?
Do I need landlord experience?
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Your next step