How to Earn Money with Real Estate & Property Management

Best Side Hustles in Canada to Earn Money with Real Estate & Property Management

Real estate and property management provide excellent opportunities to earn side income in Canada. Whether you have property to manage, invest in, or the skills to offer property-related services, the sector can yield significant returns. Here are some of the best side hustles in real estate and property management.

1. Renting Out Property on Airbnb

Renting out a spare room, basement, or entire property on short-term rental platforms like Airbnb can be highly profitable, especially in cities and tourist destinations. As a host, you can earn passive income by accommodating guests.

How to get started:

• Set up a profile on Airbnb or similar platforms.
• Prepare the space with amenities like clean linens, toiletries, and kitchen essentials.
• Take high-quality photos and write a compelling description to attract guests.

Potential earnings: $500–$3,000+/month depending on the property location and seasonality.

Where to start: Airbnb Canada

2. House Hacking

House hacking is a strategy where you live in part of a property while renting out other portions (e.g., duplex, triplex, or a single-family home with a basement apartment). This allows you to offset your mortgage or generate cash flow.

How to get started:

• Purchase a multi-unit property or one with a rentable space.
• Rent out rooms or units to tenants.
• Use rental income to cover a portion of your mortgage or living expenses.

Potential earnings: $1,000–$4,000+/month depending on rental demand and property size.

Where to start: CMHC Rental Housing Guide

3. Real Estate Wholesaling

Wholesaling involves finding discounted properties, getting them under contract, and then assigning the contract to an investor for a fee. You never actually purchase the property, but act as a middleman.

How to get started:

• Learn how to find distressed properties or motivated sellers.
• Get the property under contract with a clause that allows you to assign it to another buyer.
• Network with real estate investors who are looking for deals.

Potential earnings: $5,000–$20,000 per deal depending on the property.

Where to start: Wholesaling Mastery Courses

4. Property Management Services

If you have experience in property management or are organized, you can offer services to landlords who want help managing their rental properties. Duties include handling tenant issues, rent collection, maintenance, and marketing rental units.

How to get started:

• Market your services to property owners or real estate investors.
• Offer a comprehensive package that includes tenant screening, rent collection, and property upkeep.
• Charge a monthly management fee, typically 8–12% of the rental income.

Potential earnings: $500–$5,000+/month depending on the number of properties managed.

Where to start: Canadian Real Estate Wealth Magazine

5. Flipping Houses

House flipping involves purchasing a property below market value, renovating it, and selling it for a profit. It requires initial capital but can generate significant returns if done correctly.

How to get started:

• Look for properties in need of repair or foreclosure.
• Calculate renovation costs and potential resale value.
• Hire contractors to handle the renovations or DIY to save money, then sell the property.

Potential earnings: $10,000–$100,000 per flip depending on the property and market conditions.

6. Real Estate Photography

Real estate agents and property owners need high-quality images to market homes. If you have photography skills, you can offer real estate photography as a side hustle.

How to get started:

• Invest in a DSLR camera, a wide-angle lens, and editing software.
• Market your services to local real estate agents and property managers.
• Offer packages that include interior, exterior, and virtual tours.

Potential earnings: $200–$1,000+/project depending on the property size and scope.

7. Real Estate Agent

Becoming a licensed real estate agent is a common side hustle in Canada. Agents earn commissions by helping clients buy or sell properties. Although it requires obtaining a real estate license, it can lead to substantial earnings.

How to get started:

• Complete a real estate licensing course in your province.
• Join a brokerage to gain access to property listings and resources.
• Market your services to potential home buyers and sellers.

Potential earnings: $5,000–$50,000+/sale depending on the property’s value and commission rates.

Where to start: Canadian Real Estate Association (CREA)

8. Real Estate Investment Trusts (REITs)

If you want to invest in real estate without owning physical property, REITs allow you to invest in a diversified portfolio of real estate assets. This is a passive income stream where you earn dividends.

How to get started:

• Research publicly traded REITs on Canadian stock exchanges.
• Invest in REITs that focus on residential, commercial, or industrial properties.
• Receive regular dividends based on the performance of the trust.

Potential earnings: Varies based on dividend yield, typically 4–8% annually.

9. Rental Property Investing

Investing in rental properties is a long-term side hustle with the potential for significant cash flow and appreciation. This involves purchasing properties and renting them out to tenants for monthly income.

How to get started:

• Identify high-demand rental markets in Canada.
• Secure financing and purchase properties with positive cash flow potential.
• Rent out the property and manage or hire a property manager to oversee tenants.

Potential earnings: $500–$2,500+/month per property depending on rental rates and expenses.

Where to start: Canadian Rental Property Investors Guide

10. Vacation Property Rentals

If you own property in a popular vacation destination, renting it out seasonally can generate excellent income. This side hustle works well in areas with tourism, such as near lakes, mountains, or major cities.

How to get started:

• Purchase or use an existing property in a vacation hotspot.
• Rent it out on platforms like Airbnb or VRBO during peak seasons.
• Offer additional services, such as cleaning or concierge services, to enhance guest experiences.

Potential earnings: $1,000–$10,000+/month depending on the location and season.

Where to start: VRBO Canada

11. Tenant Finder Services

Some landlords prefer to manage their own properties but need help finding qualified tenants. You can offer a tenant placement service, screening potential renters and setting up lease agreements for a fee.

How to get started:

• Network with landlords and real estate investors.
• Screen tenants by conducting credit checks, interviews, and background checks.
• Charge a flat fee or a percentage of the first month’s rent for successful placements.

Potential earnings: $500–$2,000 per placement depending on the rental property.

Where to start: Market your services through landlord associations and real estate forums.

12. Storage Unit Rentals

If you own land or unused buildings, converting them into storage units can be a lucrative side hustle. Storage units are in high demand, especially in urban areas where space is limited.

How to get started:

• Convert unused space (e.g., garages, barns, or buildings) into rentable storage units.
• Market your units to people needing extra storage space for furniture, vehicles, or business inventory.
• Charge monthly rent based on the size and location of the units.

Potential earnings: $100–$500+/month per unit depending on demand and location.

Where to start: Canadian Self Storage Association

Conclusion:

Real estate and property management side hustles in Canada provide excellent opportunities to earn significant passive and active income. Whether you prefer hands-on activities like flipping houses and property management or more passive investments in REITs and rental properties, there are many options to fit your lifestyle, skills, and financial goals. By leveraging these side hustles, you can build wealth and create sustainable income streams through real estate.