Investing › Our portfolio · November 2026 · 6-minute read · New to this? Start here
Our own rentals
My wife and I own rental properties in the same northern BC towns I recommend to clients. Here are two of them with the real figures: rent, costs, mortgage, cash flow and the yearly return on our own cash, including the months that didn't go to plan.
Both properties pay us every month after every cost and the mortgage. Neither is counting on prices rising. Both are doing the job they were bought for: steady, positive cash flow that doesn't depend on prices rising.
Property 1 · Kitimat
| A typical month, 2026 | C$ |
|---|---|
| Rent | 2,981 |
| Property management | −313 |
| Strata fees (about) | −220 |
| Property tax | −196 |
| Insurance (about) | −75 |
| Repairs (last full year's actual) | −45 |
| Net operating income | 2,132 |
| Mortgage payment | −1,245 |
| Cash flow to us | +887 |
A small, simple complex in a quiet part of town backing onto Crown land: no elevators, parkade or shared boiler to go wrong. Kitimat's rents are driven by the aluminum smelter and the LNG Canada build.
This is the wheel in practice. After a post-COVID jump in values we refinanced and put about C$50,000 of equity to work on our next purchase. The bigger mortgage didn't break it: it still pays us close to C$900 a month.
We hold this one for income, and the income has held.
Property 2 · Fort St. John
| Average month, Jan 1 to Oct 22, 2026 | C$ |
|---|---|
| Rent and utility recoveries collected | 5,452 |
| Property management | −545 |
| Utilities and internet | −421 |
| Re-renting fees (two placements) | −309 |
| Cleaning, repairs and supplies | −308 |
| Bank fees, GST and deposit interest | −79 |
| Property tax | −467 |
| Insurance | −199 |
| Net operating income | 3,124 |
| Mortgage payment | −2,432 |
| Cash flow to us | +692 |
Of our Fort St. John properties, this is the least flattering, and I picked it on purpose: it's the kind of house most clients buy, shown in an ordinary year with the costs that come with it.
The kind of property I look for: a newer house with a self-contained suite, so two rents share one roof, one lot and one mortgage. Separate meters and heating, extra soundproofing between floors.
2026 has been a real-world year. One month sat almost empty between tenants, and finding new ones cost C$3,000 in placement fees. Rent collected so far averages C$5,452 a month against a full C$6,000. It still paid us about C$690 a month after everything, and fully rented months have netted C$1,400 to C$1,900.
Both suites rent furnished, with utilities, internet and housekeeping included, so we pay those out of the rent. Over the last 12 months they cost about C$580 a month. Set them aside and the regular running costs (management, repairs, lawn care, property tax and insurance) came to about 30% of the remaining rent, right where my models put it. Adding this year's two re-renting fees brings it to 35%. What made the year look expensive was the gap between tenants, not the running costs.
At a 5% mortgage rate, the cash flow so far would be about C$390 a month: thinner, still positive. We value it at what we paid, with no growth assumed. The house wasn't bought to be sold soon, and the coverage tests I use are built for years like this one.
The bottom line: annual return (IRR)
IRR is the one number that counts everything: the down payment, buying costs and set-up, every month's cash flow, money taken out by refinancing, and what we'd walk away with after selling costs. It's the yearly return on our own cash, before income tax.
| Property | Since we bought, if sold today | Held 10 years: values flat | Values +2% a year | Values +3.5% a year |
|---|---|---|---|---|
| Kitimat townhousebought June 2020 | about 39% | 35% | 35% | 35% |
| Fort St. John house with suitebought January 2024 | about 5% | 14% | 16% | 17% |
| Both together | about 26% | 22% | 23% | 25% |
"If sold today" values Kitimat at its refinance appraisal (C$350,000) and Fort St. John at what we paid, less 3.3% selling costs. The 10-year columns run from each purchase date, with rents rising 2.5% a year, costs 3%, Fort St. John's operating income at its 25-month actual average, and no further refinancing. Estimates, not guarantees; see the notes below.
What these two show
Kitimat gave back about C$50,000 of equity for the next purchase and still clears close to C$900 a month. That's what the refinance tests are for.
A slow month, lower rents between tenants and two placements have cost Fort St. John about C$8,700 so far this year. Budget for it, and keep reserves for it.
Every return on this page holds Fort St. John at what we paid. If values rise, that's a bonus; the monthly income is the plan.
See the rules I use for buying and refinancing on The Spinning Wheel page.
Where to next
Where the numbers come from. Rents and operating costs from our property managers' 2026 statements (Kitimat to October 8; Fort St. John January 1 to October 22, cash basis). Property taxes from the 2026 tax notices. Fort St. John insurance from the current policy. Kitimat strata fees and insurance are close estimates; repairs are the last full year's actual. Purchase prices from land title records. Mortgage balance and payment for Kitimat from the September 2026 statement. All figures before income tax.
How the returns are estimated. Kitimat is shown with 20% down at purchase plus transfer tax, legal and about C$5,000 of set-up, about C$50,000 taken out by refinancing in mid-2022, and today's actual mortgage balance; rent from August 2020; earlier years' strata fees, taxes and insurance estimated from today's figures. Fort St. John includes an estimated C$10,000 for set-up and furnishing; income for February to July 2024 and April to May 2025 is estimated from the months either side.
Financing note. To keep the Fort St. John example simple and comparable, it is shown as a standard purchase with 20% down and a 30-year mortgage at 3.99%, our current rate on that property. Our actual financing history on it differs.
Disclosure. I'm a licensed real estate advisor with Engel & Völkers Vancouver. These are properties my wife and I own; they are not for sale and this page is not an offer. I earn a commission when clients buy or sell through me. Past results on two properties don't predict future results on any property. For education and discussion only; not financial, legal or tax advice.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.