Anyone using City Towers for long-term rental investment?
Hello folks, I'm looking into buying a 1-2 bedroom apartment mainly for renting out. City Towers keeps coming up in searches because of the central-ish location and new infrastructure nearby. But I’m worried about vacancy rates and how picky tenants are with new builds. Has anyone bought there specifically to rent? What’s the real monthly yield like after all expenses, and how fast do units usually get rented? Appreciate any practical experience.
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I bought a one-bedroom there about 18 months ago with exactly the same plan – rental income. So far it’s been okay, not a goldmine but steady. Tenants like the modern kitchen and the fact that everything works (no immediate repairs like in older buildings). Management handles most tenant requests quickly, which helps keep people longer. One detailed review I found useful when I was deciding was this one: https://citytowersinc.com/ – the guy describes the whole buying and first-year renting process quite honestly.Right now I get about 6–6.5% net yield after service fees, taxes and occasional small fixes. Location helps – young professionals and couples take it pretty fast, usually within 2–4 weeks. Still, I’d say visit the place yourself and talk to current residents if possible.