Ottawa landlords leave money on the table. For example, a unit that rents for $2,000 might support $2,400 with the right improvements. Here is where to focus.
Renovations That Pay Back
Not every reno increases rent. However, the four below offer the highest return.
- In-unit laundry: Adds $150–$250 per month. Specifically, this is the single highest-ROI upgrade in Ottawa.
- Kitchen refresh: Focus on countertops and cabinet fronts, not a full gut. As a result, you add $100–$200 monthly.
- Bathroom update: Install a new vanity, mirror, and lighting. In addition, this adds $75–$150.
- Flooring: Replace carpet with vinyl plank. Therefore, you add $50–$100 and cut turnover cleaning costs.
Furnished vs. Unfurnished
Furnished units command a 20–30% premium in Ottawa. For instance, the premium peaks downtown and in Sandy Hill due to student and corporate demand. However, it shrinks in family-oriented suburbs like Kanata and Orleans. In those areas, tenants typically own their furniture.
Parking and Storage
Downtown parking spots rent separately for $120–$180 monthly. In addition, storage lockers add $50–$80. If your unit includes both, price accordingly. Otherwise, mention nearby garage options in the listing.
Rent Control Strategy
Buildings occupied before November 2018 face the annual guideline cap (2.5% in 2026). Therefore, maximize the starting rent on turnover. You cannot catch up later through increases. In contrast, post-2018 buildings have no cap. As a result, price to market each turnover.
Frequently Asked Questions
What renovation gives the fastest payback in Ottawa?
In-unit laundry. Specifically, the monthly premium covers the install cost within 12–18 months in most buildings.
Should I include utilities in the rent?
Separate utilities from rent. Tenants who pay their own hydro and water consume less. For example, a unit listed at $1,800 plus utilities leases faster than one at $2,000 all-inclusive.
How often should I reassess rent?
Review market comparables quarterly. On tenant turnover, price to the current market, not the previous lease.