Skip Navigation

Experts in Financing Buildings in Montreal, Laval and Surrounding Areas

We specialize in financing multi-unit apartment buildings in Montreal, Laval and all across the province of Quebec. Our services include financing buildings with more than five apartments and semi-commercial buildings (buildings that have a commercial component) for purchase, refinance, renewal, renovation, new construction and optimization.

Multi-Unit Building

Multi-unit Buildings With 5 Or More Dwellings

The financing of multi-unit buildings is based on the assessment of the economic value of a building.  However, several other aspects are important, including:

  • The location of the building

  • The size of the unit (5 1/2, 4 1/2, 3 1/2 ...)

  • The number of years that tenants occupy the premise

  • The average vacancy rate of the building

  • The physical appearance of the building and general condition

  • Your management experience

  • Available parking spaces

  • Different ratios like the overall discount rate (TGA), the gross income multiplier (MRB) and the net income multiplier (MRN). (The price per door may be taken into account in certain situations)

The documents required by financial institutions are usually:

  • Your personal financial information (personal balance sheet, tax report, notice of assessment, proof of assets etc.)

  • Your company's financial statements

  • The purchase offer and the annexes

  • Confirmation with a bank report statement for your down payment (3 months)

  • A market appraisal report of less than 2 years old for conventional loans and less than 6 months for CMHC insured loans

  • A phase 1 environmental assessment of less than 1 year

  • An inspection report (sometimes required)

  • A structural report (sometimes required for buildings in poorer physical condition)

  • The renovation history of the building

  • Rent roles

  • Copies of leases and renewals

  • A statement of income and expenses of the building

  • The municipal and school tax statement

  • The annual statement of energy expenses assumed by the owner

  • Copy of the building insurance policy

  • A certificate of location less than 10 years old

Regarding the interest rate, you can choose a term varying between 1 year and 10 years. However, if financing is provided by CMHC, you will have to choose a minimum first term of 5 years (3 years on an exceptional basis). The rate for this type of financing is not displayed by most banks. The interest rate will be defined according to the risks incurred by the financial institution and according to the information provided. 


The bank will also charge an application fee and possibly an annual review fee, which we will negotiate for you.

Contact Details

Peter Tsagarelis - Planiprêt Commercial
425, Mathers Avenue, Bureau 102,
Saint-Eustache, Québec  J7P 4C1

 

Phone

514-757-4117

Email

ptsagarelis@planipret.com

Service Areas

  • Montréal

  • Laval

  • Sainte Thérèse

  • Terrebonne

  • Brossard

  • Longueuil

  • Province de Québec

Opening Hours

Monday - Friday: 9:00 AM - 5:00 PM

Social

Send to a friend

Send the url of this page to a friend of yours

Created by

Legal notice