by Zenova 
Practical Tips with Real Market Examples from Laval
Setting the right rental price is essential to attract quality tenants, reduce vacancy periods, and maximize your investment’s profitability. Too low, and you’re leaving money on the table. Too high, and your unit may sit empty for weeks.
In this article, we’ll walk you through the key steps to properly evaluate the rental price of your unit — with examples based on the Laval rental market.
Analyze Comparable Rentals in Your Area
Start by researching what similar units are renting for nearby. For example, in Laval:
- A 2-bedroom apartment (4 ½) in Laval-des-Rapides typically rents for $1,250 to $1,450
- A 3-bedroom (5 ½) in Sainte-Dorothée ranges between $1,600 and $1,800
- A 1-bedroom (3 ½) in Laval-Ouest goes for $1,000 to $1,200, depending on renovations
If your unit has been recently renovated, with new floors and included appliances, you can position your price toward the higher end of the range.
Compare Features
Even if two units are located near the same services or public transport, their rental value can vary significantly depending on certain features:
- Parking included
- Appliances provided
- Private balcony or yard
- Recent upgrades (kitchen, bathroom)
- Pets allowed
Example: Two 2-bedroom units in the same neighborhood — but the one with parking, in-unit laundry, and modern finishes could easily rent for $100–150 more.
Consider the Time of Year
Spring and summer are peak rental seasons. Demand is higher, and you can usually command slightly higher rents.
In winter, it’s often better to be flexible — lowering the rent by $25 might be worth avoiding a 2-month vacancy.
Stay Competitive, Yet Fair
Setting your rent too high can turn away qualified tenants or create mistrust. Too low may attract the wrong crowd or hurt your cash flow. The right rent reflects the true market value of your unit.
Adjust Over Time
Your rental price shouldn’t stay frozen for 5 years. It’s important to reassess each year based on:
- The local rental market
- Increases in your expenses (taxes, insurance, maintenance)
- The quality and stability of your current tenant
Note: If your current tenant is reliable, pays on time, and takes care of the unit, it may be worth accepting a moderate rent increase rather than starting over with a new one.
Not Sure What to Charge?
At Zenova, we help property owners determine the optimal rental price for their units. We analyze the market in real time, considering current trends and your property’s unique characteristics.
