What’s the Deal With Special Assessments? What Ottawa Condo Buyers Need to Know in 2025

You’ve probably heard the term “special assessment” pop up while browsing Ottawa condos or reviewing a status certificate — and if you’re like most buyers, your first reaction was probably: “Is this a bad sign?”

The short answer? Not always.
But special assessments are one of the most misunderstood parts of buying a condo in Ottawa, and knowing what they are — and how to spot red flags — can save you a lot of money and stress down the line.

Let’s break it down in plain language.

What Is a Special Assessment?

A special assessment is a one-time fee charged to unit owners when the condo corporation doesn’t have enough money in its reserve fund to cover major repairs or unexpected costs.

Think of it as the building passing the hat around when something big needs to be fixed, and there’s not enough in savings to cover it.

Common reasons for a special assessment include:

• Roof replacements

• Elevator upgrades

• Structural issues

• Heating/cooling system failures

• Emergency repairs (e.g. water damage, fire recovery)

• Legal or insurance disputes

Should You Panic if a Special Assessment Pops Up?

Not necessarily.

A special assessment doesn’t always mean the building is falling apart. In some cases, it reflects a board that’s being transparent about upcoming work and doing what’s needed to maintain the building.

But in other cases, it can point to poor financial planning, an underfunded reserve, or a building that hasn’t been properly maintained, which is why it’s so important to read between the lines.

How Much Are Special Assessments in Ottawa?

It depends on the size of the repair, the size of your unit, and how many owners are sharing the cost.

We’ve seen assessments as low as $2,000 per unit for minor repairs, and as high as $20,000+ for major work in older buildings.

In rare cases, owners can choose to pay in monthly instalments or a lump sum, but not always. And yes, if you’re the owner at the time the assessment is issued, it’s your responsibility.

How to Spot Risk Before You Buy

This is where the Status Certificate becomes your best friend. Before closing on a condo in Ottawa, your lawyer will review this document, which includes the reserve fund study, financial statements, and info about any upcoming special assessments.

Here’s what we look for in every deal:

• Is the reserve fund healthy?
  A newer building might have $200K–$400K in reserves. Larger or older buildings should be closer to $1M+, depending on size and age.

• When was the last reserve fund study done?
  These are required every three years in Ontario. An outdated study is a red flag.

• Are there upcoming projects not fully funded?
  If big repairs are planned but the fund is short, an assessment might be on the horizon.

• Are fees suspiciously low?
  If fees haven’t gone up in 5+ years or are way below market averages, the reserve fund may not be getting enough contributions.

Should You Avoid Buildings With Special Assessments?

Not always.

Some buyers actually use an upcoming assessment as leverage to negotiate the purchase price or ask for a credit at closing. In other cases, the assessment is already paid, and the work is complete, which means you’re getting a unit in a freshly updated building with no major surprises on the horizon.

In short: it depends on the context.

And that’s exactly what we help you figure out.

Final Thoughts

Special assessments can sound scary, but they don’t have to be a dealbreaker. The key is understanding why the assessment exists, how the building is managed, and what your long-term costs could be as an owner.

We work with condo buyers across Ottawa every day to help them decode the financial health of the building, not just the unit. Whether you’re looking at a Centretown loft, a Westboro high-rise, or something tucked near the LRT, we’ll help you know exactly what you’re walking into.

Have questions about a condo listing or status certificate?
Send it our way. We’ll review it with you and make sure there are no costly surprises waiting behind the scenes.

What’s a Good Condo Fee in Ottawa? A 2025 Guide to What You Should (and Shouldn’t) Be Paying

If you’ve spent more than five minutes looking at Ottawa condos for sale, you’ve probably asked yourself this:
“Is that condo fee normal?”

We get it. Condo fees can feel like a mystery, especially when you see two similar units, side by side, with completely different monthly costs. One is $350/month, the other is $750/month. Why the gap? And is either of those actually a good deal?

In this post, we’re breaking down what a typical condo fee looks like in Ottawa in 2025, what those fees cover, and how to tell the difference between a well-managed building and one that might cost you more in the long run.

What Do Condo Fees Actually Cover?

In most Ottawa buildings, condo fees include more than just maintenance. They typically cover a combination of:

• Building insurance (not your contents, just the structure and shared spaces)

• Reserve fund contributions

• Common area maintenance (lobby, elevators, hallways, exterior)

• Garbage removal and snow clearing

• Water and/or heat in many buildings

• On-site amenities like gyms, pools, party rooms, etc.

Some older buildings or luxury towers also include hydro, cable, or concierge services in the monthly fee. But every building is different, so what’s included should always be confirmed in the listing or status certificate.

So… What’s a Normal Condo Fee in Ottawa in 2025?

While there’s no single right number, we’ve seen the following ranges in our daily work with condo buyers and sellers:

• Newer construction (built post-2015):
  ~$0.45–$0.65 per square foot, depending on amenities

• Older buildings (built pre-2000):
  ~$0.70–$1.00 per square foot, often due to increased upkeep and fewer energy-efficient systems

• Luxury buildings:
  $0.80–$1.20+ per square foot, often with full-time concierge, pools, gyms, guest suites, and more

For example, a 700 sq ft condo with a $0.60/sq ft fee would cost about $420/month. Not bad, especially if it includes water, heat, and a gym.

When Low Fees Aren’t Always a Good Thing

Everyone loves a deal, but ultra-low condo fees can be a red flag if you’re not careful. Here’s why:

• Underfunded reserve fund: If the building hasn’t set enough money aside for major repairs (like roof replacement or elevator upgrades), you could be hit with a large special assessment later on.

• Deferred maintenance: Low fees may mean corners are being cut. That often shows up as peeling paint, broken intercoms, or outdated systems.

• No recent increases: While it’s tempting to see “stable fees” as a good thing, a well-run condo will typically raise fees slightly each year to keep pace with inflation and rising costs.

We always recommend reviewing the Status Certificate to see the reserve fund balance, recent budget, and any upcoming repairs.

When High Fees Might Be Worth It

Not all high condo fees are a bad sign. In fact, in some buildings, they’re a fair reflection of the services and amenities offered, or the age of the structure.

Higher fees might be justified if the building includes:

• 24/7 concierge or security

• Full-sized gyms or indoor pools

• Guest suites and event spaces

• Hydro and cable

• Elevator or mechanical upgrades recently completed

In many downtown buildings like The Hudson, Claridge Plaza, or The Mondrian, you’ll find slightly higher fees but with a strong reserve fund and great long-term value. It all depends on your priorities.

How to Compare Condo Fees Like a Pro

When you’re comparing listings, don’t just look at the dollar figure — dig into the value behind the fee.

Here’s what we recommend evaluating:

• Price per square foot (not just total fee)

• What’s included in the monthly cost

• Age and condition of the building

• Reserve fund health and upcoming major projects

• Percentage of units owner-occupied (more owners = better long-term stability)

• Amenities you’ll actually use (and which you’re paying for)

And don’t forget — a $500/month condo fee in a building that includes everything may end up cheaper long-term than a $300/month fee that doesn’t even cover your water bill.

Final Thoughts

In Ottawa’s condo market, not all fees are created equal. A “good” condo fee isn’t just a number — it’s a reflection of how well the building is run, what you’re getting in return, and how much financial risk you’re carrying as an owner.

That’s where we come in. As a team that specializes in Ottawa condos, we help buyers look beyond the listing price and monthly fee to understand the full financial picture, before you sign anything.

Wondering if that condo fee is too high, too low, or just right?
Send us the listing. We’ll give you an honest take — and help you understand exactly what you’re buying into.

Ottawa’s Best Condo Buildings for Walkability in 2025

No Car? No Problem. These Condos Put You Steps From Everything.

If you’re moving to downtown Ottawa and wondering whether you need a car, the answer might surprise you.

With the expansion of the LRT, a growing network of bike lanes, and neighbourhoods built around the “15-minute lifestyle,” more condo buyers are choosing to ditch their cars and prioritize walkability. And in 2025, that’s not just possible in Ottawa—it’s a smart move.

In this guide, we’ll break down what makes a condo walkable, what you should consider before going car-free, and our top building picks for anyone looking to live in the heart of it all.

Why Walkability Matters More in 2025

Let’s be real—car ownership isn’t cheap. Between rising insurance rates, gas prices, parking costs, and maintenance, your vehicle might be eating into your home-buying power more than you realize.

Add in remote work, the convenience of food delivery, and better public transit, and many buyers are realizing they don’t actually need to drive every day.

Choosing a walkable condo means:

• Living steps from groceries, coffee shops, and transit

• Skipping the stress of winter parking or storage

• Saving money (or putting that budget toward a nicer unit)

• Enjoying a healthier, more community-driven lifestyle

What Makes a Condo “Walkable”?

For this list, we’re looking at condo buildings that:

• Score 90+ on Walk Score

• Are within a short walk to transit, shops, and restaurants

• Offer amenities that support car-free living (bike storage, car share, in-building gym or concierge for deliveries)

This isn’t about how flashy the building is—it’s about the quality of life when you’re on foot.

The Top Walkable Condo Buildings in Ottawa (2025 Edition)

1. The Bowery – 255 Bay Street

Neighbourhood: Centretown
Walk Score: 96
Why it makes the list: Steps from Bank Street, Parliament, groceries, and the Lyon LRT station. It’s also one of the few newer buildings downtown with lower condo fees, great amenities, and a rooftop lounge that feels like a boutique hotel.

2. The Slater – 199 Slater Street

Neighbourhood: Financial District
Walk Score: 98
Why it makes the list: Location doesn’t get more central than this. Right near Sparks Street, the Rideau Centre, and major government buildings. Perfect for professionals who want to walk to work and take the LRT anywhere else.

3. The Rideau – 383 Cumberland Street

Neighbourhood: ByWard Market
Walk Score: 99
Why it makes the list: Sandwiched between Ottawa U and the Market, this building puts you close to campus, grocery stores, and restaurants. Rideau LRT station is just around the corner, and the Rideau Canal is a 7-minute walk.

4. The Galleria – 200 Besserer Street

Neighbourhood: Sandy Hill
Walk Score: 97
Why it makes the list: A great choice for students or downtown professionals. Walk to class, transit, and groceries without sacrificing space or comfort. Galleria also has a solid reputation for long-term value and community feel.

5. 700 Sussex Drive

Neighbourhood: ByWard Market / Parliament Hill
Walk Score: 99
Why it makes the list: One of Ottawa’s most prestigious condo addresses, right between the Market and the Hill. You can walk to everything from here—fine dining, cultural events, coffee shops, and transit. Ideal if you want luxury and convenience.

6. The Merit – 108 Lisgar Street

Neighbourhood: Elgin Street / Downtown Core
Walk Score: 98
Why it makes the list: Close to City Hall, Elgin Street, and the Canal, The Merit is perfect for someone who wants upscale design with walkable lifestyle. Great for people who work in politics, public service, or who just love being at the centre of it all.

Things to Think About Before Going Car-Free

Living without a car is easy—if you plan ahead. Here are a few things I ask clients to consider:

• What’s your grocery situation? A building near a Metro, Farm Boy, or Loblaws is a game-changer.

• Will you commute by transit? Look for condos near an LRT station (Line 1 or Line 2).

• Are you okay using Uber or Zipcar occasionally? Some buildings have partnerships or car share on-site.

• How often do you leave the city? If you travel to the suburbs or cottage country regularly, no car might not work.

Bonus tip: If you’re living without a car, parking becomes an asset. Buy a unit without parking for a lower price, or buy one with parking and rent the spot for income.

Ottawa’s downtown core isn’t just walkable—it’s designed for car-free living. And in 2025, more buyers are waking up to the fact that walkability doesn’t just improve your lifestyle—it saves you money and puts you in the centre of the action.

Whether you’re relocating, downsizing, or buying your first condo, I can help you find a unit in a walkable, high-demand building that matches your lifestyle goals.

📩 Want a curated list of Ottawa condos with the best walkability scores?
Send us a message and we’ll put together a personalized shortlist based on what matters most to you.

The Best Ottawa Condos for First-Time Investors: 2025 Edition

Thinking about buying your first investment property in Ottawa? You’re not alone.

As rent prices climb and new inventory continues to be absorbed quickly, more people are turning to downtown condos as a way to start building wealth. But not all buildings are created equal—especially if you're new to real estate investing.

Whether you’re looking for a turnkey unit with low overhead or a high-demand rental in the heart of the city, this guide will walk you through some of the best condos in Ottawa for first-time investors in 2025—and what to watch for before you buy.

Why Condos Are a Smart First Investment in Ottawa

Condos are often the easiest entry point into the real estate market for new investors because they’re:

• Low maintenance (no snow removal or exterior upkeep)

• More affordable than freehold homes downtown

• Often located in high-demand rental areas

• Backed by established condo boards and reserve funds

Downtown Ottawa also has a steady pool of potential tenants—students, young professionals, government workers, and travelling healthcare staff—making it one of the most stable urban rental markets in Canada.

What First-Time Investors Should Look For

Not every downtown condo makes a good investment. Here’s what to prioritize:

• Reasonable condo fees: Under $0.75/sq ft is ideal, depending on amenities.

• Strong rental demand: Close to transit, schools, hospitals, and employment hubs.

• Good building management: Look at reserve fund studies, maintenance records, and special assessments.

• Flexible rental policies: Check whether short-term rentals are allowed (if that’s part of your plan).

• Layout efficiency: Open layouts, in-unit laundry, and functional floor plans tend to rent faster.

Top 5 Downtown Ottawa Condos for First-Time Investors (2025 Edition)

Based on local market trends, rental demand, and investor performance, here are some standout buildings to consider:

1. The Bowery – 255 Bay Street

• Neighbourhood: Centretown

• Why it works: Efficient, modern layouts with rooftop amenities, low condo fees, and strong rental appeal to professionals.

• What to know: Studios and 1-beds rent fast here. Lower turnover costs due to newer construction.

• Typical rental range: $1,800–$2,400/month depending on size and finish.

2. The Mondrian – 324 Laurier Avenue West

• Neighbourhood: Downtown Core

• Why it works: Centrally located with sleek units and popular amenities (pool, gym, rooftop terrace). Great walk score.

• What to know: Units with unobstructed views or parking tend to see stronger resale and rental value.

• Rental range: $2,100–$2,800/month for 1- and 2-bedroom units.

3. The Hideaway – 340 McLeod Street

• Neighbourhood: Centretown / Bank Street Corridor

• Why it works: Industrial-chic design and a sought-after rooftop pool. Consistently strong tenant demand from young professionals and medical staff.

• What to know: Some unique layouts—focus on functional units with balconies for the best value.

• Rental range: $1,950–$2,600/month.

4. SoBa – 203 Catherine Street

• Neighbourhood: Centretown South

• Why it works: High design aesthetic, floor-to-ceiling windows, and a growing reputation among renters. Still undervalued relative to its quality.

• What to know: South-facing units are brighter and often rent quicker, with some short-term rental potential depending on the unit.

• Rental range: $1,950–$2,700/month.

5. The Slater – 199 Slater Street

• Neighbourhood: Financial District

• Why it works: One of the only buildings in Ottawa that allows short-term rentals (Airbnb-friendly), making it a unique option for furnished rentals.

• What to know: Requires a different management approach, but has high cash flow potential.

• Rental range: $2,000–$3,000/month furnished.

What to Avoid in Your First Investment Property

Even if a building looks appealing, there are red flags that should make you pause:

• Outdated reserve fund studies

• Multiple recent special assessments

• Units with awkward layouts or no windows in bedrooms

• Lack of in-unit laundry

• Strict rental restrictions or age-limited buildings

Advice for First-Time Investors

Buying your first investment property can feel overwhelming, but it doesn’t have to be.

The biggest mistake we see is people focusing too much on just the purchase price. You need to understand the building, the financials, and the neighbourhood trends. The right unit in the right building can set you up for long-term success.

If you’re thinking about investing in a downtown Ottawa condo, the key is finding a building that offers both present-day rental appeal and long-term value. The five options above are a great place to start, but the best choice always depends on your goals, budget, and lifestyle.

📩 Want to chat about your first investment property?
Reach out directly for a one-on-one strategy session or request a list of available units that match your ideal criteria.

Ottawa Condo Market Statistics - June 2025

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for June 2025 in the top five "downtown" areas - Centretown, Byward Market and Sandy Hill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what is sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is roughly 14 days for almost every single transaction.

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A Busy June Signals a Delayed but Active Spring Market

Ottawa's real estate market saw a notable uptick in activity this June, marking a strong seasonal shift. A total of 1,602 homes were sold through the Ottawa Real Estate Board's (OREB) MLS® System—an 11.34% drop from May, but a healthy 10.6% increase compared to June 2024. This pace puts the city’s sales 3.8% above the five-year average, pointing to a return to more traditional seasonal trends.

Market Trends at a Glance

• Sales activity: 1,602 homes sold

• New listings: 2,933 (↑13.8% YoY)

• Active listings: 4,350 (↑11.6% YoY)

• Benchmark price (overall): $634,300 (↑1.6% YoY)

• Average sale price: $723,152 (↑5.2% YoY)

• Days on market: 19

• Months of inventory: 2.7

OREB President Paul Czan noted, “This was the busiest June we've seen in quite some time… we’re seeing more inventory hit the market, giving buyers more choice. Sellers need to stay future-focused—pricing thoughtfully and preparing their homes to stand out.”

Inventory Continues to Climb

Active listings reached 4,350 in June, rising significantly from last year and sitting 42.6% above the five-year average. New listings also jumped nearly 14% year-over-year, indicating that the delayed spring market finally materialized. Months of inventory held steady at 2.7, suggesting balanced conditions overall.

Property Prices by Type

The benchmark price of a typical home in Ottawa climbed modestly overall, with certain property types seeing more pronounced movement:

• Single-family homes: $707,600 (↑1.6% YoY)

• Townhouses/row units: $467,900 (↑9.0% YoY)

• Apartments: $411,500 (↓0.6% YoY)

Apartments continue to feel pressure from rising inventory, financing costs, and new construction competition. “We're seeing a notable decline in apartment sales—down about 20% year-over-year,” Czan explained. Neighbourhood-specific factors and increasing condo fees are also contributing to reduced affordability, particularly for first-time buyers.

What This Means for Buyers and Sellers

For buyers, increased inventory and stable pricing mean more options and a less competitive market than in past years. For sellers, especially those listing condos or homes in areas with lots of new supply, strategic pricing and preparation are essential to attract serious interest.

Looking ahead, seasonal trends suggest a strong fall market could be on the horizon. Families hoping to move before the school year and students returning to the city are likely to keep the market moving into September.

Thinking about buying or selling in Ottawa?
Our team of local experts is here to help you navigate changing market conditions with confidence. Reach out today for personalized advice or to start your home search.

Important to note is that these statistics can only be as accurate as there are condos sold in Ottawa. The more condos sold in an area, the more accurate the averages will be.

Want to chat about your options? Fill out the form at the bottom of the page, or text/call us directly at 613-900-5700 or fill out the form at the bottom of the page.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

The 5 Things No One Tells You About Buying a Condo in Ottawa

Buying a condo in Ottawa seems simple enough. You find the right unit, sign some papers, and get the keys, right?

Not quite.

While condos are often marketed as the “easy” way to buy into the market, there’s a lot going on behind the scenes that can impact your investment, your lifestyle, and your peace of mind. From hidden fees to how your building is managed, what you don’t know can cost you.

Here are five things most buyers don’t find out until after they’ve moved in. Read this before you start touring—and thank yourself later.

1. Not all condo fees are created equal

Yes, some buildings have higher monthly fees. But that doesn’t always mean they’re overpriced. You have to look at what’s included.
Some condos cover everything—heat, water, building insurance, concierge, gym access, even internet. Others give you the basics and leave the rest to you.

What to look for:
Ask what your condo fees include. Then compare apples to apples. A lower fee with fewer inclusions isn’t always the better deal.

2. The status certificate is your best friend

It sounds boring, and yes—it’s a lot of legal language. But the status certificate is where you find out if the condo corporation is financially healthy, if there are any lawsuits, and if major repairs are coming up.

What to look for:
You want a healthy reserve fund, no pending special assessments, and a well-managed corporation. Don’t skip this step. It can save you thousands.

3. Your view might not be forever

That stunning 17th-floor sunset view? It might be blocked by a new development two years from now. Ottawa is growing fast, and downtown airspace is constantly evolving.

What to look for:
Work with someone who knows what’s planned nearby. We keep tabs on new developments, zoning applications, and where the cranes are going next, so your dream view doesn’t become a brick wall.

4. Parking and storage aren’t guaranteed

Just because you saw a car in the listing photos doesn’t mean parking is included. The same goes for lockers. In some buildings, these are separate purchases or rentals.

What to look for:
Always confirm what’s included with the unit. Ask if it’s owned or exclusive-use. If you don’t drive, you might even be able to negotiate a better deal without it.

5. The building’s personality matters more than you think

Every condo has a vibe. Some feel like luxury hotels. Others are quiet and residential. Some buildings are more investor-heavy, which can mean more turnover and Airbnb traffic.

What to look for:
Ask about the owner-to-renter ratio. Walk the halls. Check the lobby. Talk to your agent about how the building fits your lifestyle, not just your budget.

Final Thoughts

Buying a condo is about more than just square footage and finishes. It’s about the building, the management, the neighbourhood, and the long-term value.

If you want a condo expert who can help you buy smarter—not just faster—I’d be happy to help. Whether you’re comparing buildings, browsing pre-construction, or just figuring out if condo living is right for you, I’m here to give you real answers and real support.

Which Ottawa Condo Building Matches Your Lifestyle?

Because not all condos (or condo buyers) are created equal.

Intro Text:
Thinking about buying a condo in Ottawa, but not sure where to start? With dozens of buildings, vibes, and amenities to choose from, it can feel like you're one open house away from a breakdown.

This quick quiz will match you with the type of building that best suits your lifestyle, values, and day-to-day needs. Whether you're all about luxury living, creative vibes, or low-key functionality, we’ll help you find the right fit — no boring buildings allowed.

The Quiz:

1. What’s your top condo must-have?
A. Concierge and valet parking
B. Low fees and a solid reserve fund
C. Exposed concrete and a rooftop lounge
D. Close to transit and a good gym

2. How do you feel about condo amenities?
A. The more the better — give me a pool, spa, theatre
B. Keep it simple — I just want clean and efficient
C. A cool party room and rooftop BBQ, yes please
D. Functional is fine — I’ll actually use the gym and bike storage

3. Your ideal weekend sounds like...
A. Relaxing in the hot tub after a day of shopping
B. Brunch, errands, a walk by the river
C. Checking out a local gallery, then drinks on the rooftop
D. Hitting the gym, biking to a festival, or working from a café

4. What’s your design aesthetic?
A. Marble, gold finishes, and hotel vibes
B. Clean lines, smart layout, neutral tones
C. Industrial loft meets art gallery
D. Modern, practical, and built for living

5. When it comes to your neighbourhood, you want…
A. Prestige — close to Parliament, museums, and fine dining
B. Peace and convenience — with groceries and trails nearby
C. Culture — somewhere with live music, shops, and street art
D. Accessibility — I need LRT, bike lanes, and a great coffee spot

Results:

Mostly A’s – The Luxe Life
You’re here for the five-star experience. You want your home to feel like a boutique hotel and love having amenities you might use once just because they’re there.

Your match:

• The Re Residences (Downtown)

• The SoHo (Champagne or Lisgar)

• The Slater (Bank & Slater)

Mostly B’s – The Practical Pro
You’re a smart buyer who wants solid value, minimal surprises, and a space that just works. No fluff, no nonsense — just a well-run building in a good location.

Your match:

• The Galleria (Sandy Hill)

• Central Phase 1 (Centretown)

• Mondrian (Bank Street)

Mostly C’s – The Creative Urbanite
You want your home to feel like an extension of your personality. You love thoughtful design, cool amenities, and being close to the city’s best culture, food, and nightlife.

Your match:

• The Eddy (Hintonburg)

• Studio Argyle (Centretown)

• The Exchange (Lebreton)

Mostly D’s – The Active Realist
You live in your condo — it’s not just a place to sleep. You want convenience, community, and good bones, in a neighbourhood that fits your routine and your weekend.

Your match:

• The Bowery (Centretown)

• Claridge Moon (Downtown, connected to LRT)

• Tribeca East (Metcalfe & Lisgar)

Not sure where you land?
We’ve toured them all. Whether you’re early in the process or ready to make a move, we’ll help you find a condo that fits your lifestyle and your long-term goals.

Why Walkability Matters When Buying a Condo in Ottawa

When you’re buying a condo in Ottawa, square footage, finishes, and amenities often get top billing. But one key factor is often overlooked—and it can dramatically impact your day-to-day life: walkability.

Whether you're a remote worker, a downsizer, or a first-time buyer, choosing a condo in a walkable neighbourhood can elevate your lifestyle, reduce your dependence on a car, and even protect your investment over time. Here’s why it matters—and how to find the right location.

What is Walkability, and Why Does it Matter?
Walkability is more than just the ability to stroll to the nearest coffee shop. It’s about living in a neighbourhood where daily errands, dining, transit, and recreation are all easily accessible on foot. In Ottawa, that could mean access to the LRT, bike lanes, grocery stores, dog parks, or even your office.

Living in a walkable area improves quality of life and contributes to better physical and mental health. You’ll spend less time commuting and more time enjoying your neighbourhood. Plus, in a city like Ottawa—where winter can complicate travel—it can mean fewer cold waits at the bus stop or icy drives.

Best Walkable Neighbourhoods for Condo Living in Ottawa

• Centretown: You’re steps from Parliament Hill, the Rideau Canal, Elgin Street restaurants, and grocery stores. It’s ideal for professionals who want to ditch the car and still have a vibrant nightlife and cultural scene.

• Westboro: With boutiques, breweries, cafes, and quick access to the Ottawa River bike paths, Westboro offers a mix of luxury and lifestyle in a calm, community-focused area.

• The Glebe: This classic neighbourhood combines charming residential streets with Bank Street retail and quick access to Lansdowne Park events.

• Little Italy/Hintonburg: Known for its cool factor, these neighbourhoods combine trendy coffee spots with indie shops, galleries, and transit connectivity.

Walk Score Isn’t Everything—Do Your Own Test
Websites like Walk Score can be a great starting point, but they don’t always tell the whole story. When touring a condo, ask yourself:

• Can I walk to get groceries, go out for dinner, or pick up a prescription?

• Is the area well-lit and safe after dark?

• Are there sidewalks, benches, parks, or bike paths nearby?

• How long would it take me to walk to the LRT or nearest bus stop?

These questions help paint a more realistic picture of what your daily life might look like.

Resale Value and Walkable Locations
Here’s the kicker: walkability isn’t just good for your lifestyle—it’s good for your investment. Condos in highly walkable areas tend to hold their value better, especially as Ottawa continues to expand its LRT system and densify urban cores. Buyers increasingly prioritize convenience, especially in a hybrid work world.

Final Thoughts
When you're buying a condo in Ottawa, don’t just look at what’s inside the unit—consider what’s outside your front door. Walkability shapes your routine, your comfort, and your connection to the city.

If you’re searching for a walkable condo in Ottawa, reach out anytime and let’s find a space that fits your lifestyle as much as your budget.

Can You Airbnb Your Condo in Ottawa? What You Need to Know in 2025

Short-term rentals have become a popular way for condo owners to generate extra income, but in Ottawa, it’s not as simple as listing your place on Airbnb and handing over the keys. With stricter city regulations in place since 2021 (and new enforcement measures added in 2024), many buyers are now asking: Can I legally Airbnb my condo in Ottawa in 2025?

The answer depends on where you live, how your condo is zoned, and what your condo board allows. Here’s everything you need to know before buying a condo with Airbnb potential—or renting out your current one.

1. Ottawa’s Short-Term Rental Bylaw (2021–2025 Recap)

Ottawa’s short-term rental bylaw limits most Airbnb-style rentals to your primary residence. That means:

• You can only rent out a condo you live in full-time, either entirely (when you’re away) or partially (a room or shared space)

• Secondary properties (like investment condos or units you don’t live in) cannot be used for short-term rentals

• Hosts must register with the City of Ottawa and pay an annual fee (~$110 as of 2025)

• You must also collect and remit the 4% Municipal Accommodation Tax

💡 If you’re not living there, it’s not legal to short-term rent it. Full stop.

2. What Counts as a “Primary Residence”?

Your primary residence is where you live most of the time, pay taxes, and receive mail. It’s the address on your driver’s licence, health card, and voter registration.

If you live somewhere else—even part of the year—the condo is considered a secondary dwelling, and cannot be legally rented on Airbnb or VRBO.

3. Does Your Condo Building Allow It?

Even if your unit qualifies as your primary residence, your condo board can still prohibit short-term rentals. Many downtown Ottawa buildings—especially newer high-rises—have added restrictions or outright bans due to:

• Security concerns

• Noise complaints

• Increased wear and tear

• Insurance complications

Before buying a condo with Airbnb in mind, ask your agent to request the status certificate and building bylaws. If short-term rentals are banned or restricted, that’s where you’ll find it.

4. What About 30+ Day Rentals?

Longer-term furnished rentals—30 days or more—fall outside the short-term rental bylaw and are generally legal (though still subject to RTA rules). These can be great options for:

• Government relocations

• Students

• Corporate stays

• Health-care workers on temporary contracts

💡 If you're looking to invest, targeting 30+ day furnished rentals may offer flexibility without running into legal trouble.

5. Enforcement in 2025: Yes, It’s Real

Since 2024, the City of Ottawa has stepped up enforcement, issuing fines up to $100,000 for repeat offenders. Platforms like Airbnb and VRBO now require proof of registration for all Ottawa listings, and complaints from neighbours can trigger an investigation.

Buying a condo you plan to rent short-term without doing your homework isn’t just risky—it could leave you stuck with a unit you can’t use the way you planned.

Final Thoughts

In 2025, Ottawa’s short-term rental rules are clear: unless it’s your primary residence and your building allows it, you can’t legally run an Airbnb. But that doesn’t mean condos are off the table for rental income—long-term and mid-term rentals are still in demand across the city.

Thinking about buying a condo as an investment, a part-time home, or a hybrid use?
Let’s connect. I’ll help you make sure your purchase fits your goals—and the city’s rules.

Should You Buy a Condo with a Tenant in Place? Here’s What to Know Before You Do

In Ottawa’s competitive real estate landscape, especially in the condo market, buyers are often faced with an unexpected scenario: a unit that’s already tenanted. Whether you're looking for a future home or considering your first investment property, it’s worth understanding exactly what it means to buy a condo with a tenant in place, because the process, rights, and risks aren’t always what they seem.

1. Yes, the Lease Survives the Sale

If a condo is currently rented out, that lease does not end when the property sells. Under Ontario’s Residential Tenancies Act (RTA), the lease transfers to the new owner with all terms intact—including the rent, duration, and conditions.

So if you're planning to move in, and the tenant is still mid-lease, you won’t be able to occupy the unit until that lease ends—and even then, proper notice must be given.

💡 The only legal way to end a tenancy for personal use is after the lease term is up, and with at least 60 days’ written notice.

2. Buying for Personal Use? Know the Timing

Let’s say you're buying a condo to live in, but it’s tenanted month-to-month. You may be able to move in, but only after you’ve legally given notice for personal use. That notice must come after closing, not before. In other words:
✔ You must be the legal owner
✔ You must provide 60 days’ notice to the tenant (with the date aligning to the rental period)
✔ You must intend to move in within a reasonable time (typically 90 days)

You also need to use form N12 through the Landlord and Tenant Board—and you can’t just evict a tenant to flip or re-rent the unit.

🚨 Filing an N12 dishonestly is considered bad-faith eviction and can result in serious fines.

3. Inheriting a Tenant as an Investor

On the flip side, buying a condo with a tenant in place can be a smart move for investors. You’re earning rental income from day one, and you get to skip the leasing process.

However, you’ll also be inheriting:

• The current rent rate (which may be below market)

• The existing lease terms

• Any outstanding issues between the tenant and the previous landlord

Ontario’s rent control laws cap how much you can increase rent annually for most units built before November 15, 2018. If the condo was built after that date, you may have more flexibility, but double-check before assuming.

💡 Get a copy of the lease agreement and ask for proof of rent payments and deposit transfers as part of your due diligence.

4. How This Affects Financing and Insurance

If you’re buying as a primary residence, having a tenant can complicate financing, since most lenders won’t approve a standard owner-occupied mortgage unless the unit will be vacant at closing.

In contrast, if you're buying as an investment, your lender may allow you to use the rental income to qualify, but will also expect:

• A larger down payment (typically 20%)

• Proof of lease

• Confirmation of rent received

Your insurance will also need to reflect that this is a rental property, not an owner-occupied home.

5. Is It Worth It? How to Decide

Buying a condo with a tenant isn’t necessarily a red flag—it’s a question of alignment with your goals. Ask yourself:

• Are you planning to move in immediately?

• Is the rent close to the market rate?

• Does the tenant have a solid payment history?

• Will this affect your mortgage qualification?

If the tenant is respectful and pays reliably, it could be a win-win. If not, you may be better off waiting for a vacant unit.

Final Thoughts

Whether you're buying a sleek Centretown studio or a two-bedroom in Little Italy, knowing the ins and outs of tenanted condos can protect your investment—and your plans. The key is to go in informed, work with a knowledgeable agent, and get proper legal advice before making an offer.

Looking for guidance on buying a condo that fits your goals—tenanted or not?
Let’s connect and find a strategy that works for you.

5 Red Flags to Watch for When Buying a Condo in Ottawa

Buying a condo in Ottawa can be an exciting step, whether you’re a first-time buyer, downsizer, or investor. But not all condos are created equal. While a great unit in a solid building can offer incredible lifestyle and financial benefits, a poor choice can lead to frustration, surprise costs, and a lot of regret.

Before you sign on the dotted line, here are five red flags that could signal deeper issues with the unit, building, or condo corporation:

1. Sky-High or Rapidly Rising Condo Fees

A monthly condo fee isn’t unusual—it covers things like building maintenance, management, insurance, amenities, and often heating or water. But if the fee seems unusually high (compared to similar buildings) or has jumped significantly year over year, it could point to poor financial planning or upcoming capital expenses that weren’t properly forecasted.

Tip: Ask for a breakdown of what’s included and review the last 2–3 years of fee history. Your lawyer or agent can help compare it to similar properties.

2. Low Reserve Fund Balance

Ottawa condo corporations are required to maintain a reserve fund—a savings account to pay for major repairs like roofing, elevators, or parking garage work. A low or insufficient reserve fund could mean that big expenses down the road will require a special assessment (a one-time fee paid by all owners).

Tip: Have your real estate lawyer review the status certificate. This will include the reserve fund balance, upcoming expenses, and any history of special assessments.

3. Ongoing Lawsuits or Legal Issues

If the condo corporation is involved in a lawsuit, especially related to construction defects, builder disputes, or management, it’s a red flag. Legal battles can drain reserve funds and scare off future buyers, impacting resale value.

Tip: Again, the status certificate will disclose any legal proceedings. If anything looks unclear, your lawyer can request more detail.

4. Poor Building Maintenance or Neglect

What does the building feel like when you walk in? Dirty hallways, burned-out lights, non-functioning elevators, or landscaping that’s seen better days can signal poor management or an inattentive board. These are the same people responsible for making decisions about repairs and money.

Tip: Visit the building at different times of day. Is the lobby clean? Are the common areas in good shape? Does security seem active and present?

5. Frequent Listings in the Same Building

While some turnover is expected, too many listings—especially if units seem to sit unsold or change hands frequently—can mean something’s off. Maybe it’s noise, poor construction, or a mismanaged board. Or maybe owners just don’t love living there.

Tip: Ask your agent to pull sales history in the building and check how long units typically stay on the market. If the building doesn’t hold value well, dig into why.

Final Thoughts

Buying a condo is about more than just liking the unit. You’re also buying into the building, the management, and the financial health of the condo corporation. Taking the time to do a bit of due diligence now can save you thousands—and a lot of headaches—down the line.

Want help finding a condo that checks all the right boxes?

8 Things Every Buyer Should Know Before Purchasing a Condo in Ottawa

Buying a condo in Ottawa is one of the most accessible ways to enter the real estate market, but it comes with its own set of rules. From maintenance fees to reserve funds, there’s a lot to consider before making a move.

Here’s what every buyer should know before purchasing a condominium in Ottawa.

1. Not All Condos Are Created Equal

From converted warehouses in Centretown to glass towers in Little Italy, Ottawa offers a wide range of condo styles.

Before shopping, ask yourself:

• Do I want a high-rise with full amenities or a boutique walk-up?

• Do I care more about views, location, or square footage?

• Am I okay with paying higher fees for more features?

Understanding your lifestyle needs will help narrow down your options.

2. Monthly Condo Fees: What’s Included?

Condo fees vary widely in Ottawa and often depend on the size of the unit, age of the building, and amenities included.

Typical inclusions:

• Building insurance

• Maintenance of common areas

• Water and heating (in some cases)

• Concierge or security services

Make sure to ask for a breakdown—and don’t forget to factor it into your monthly budget.

3. You’ll Need a Status Certificate

Before finalizing a purchase, your lawyer will review the Status Certificate. This document outlines the condo corporation’s financial health, bylaws, reserve fund, and any ongoing legal issues.

It’s one of the most important steps in protecting yourself as a buyer—don’t skip it.

4. Reserve Funds Matter

A healthy reserve fund means the building is prepared for major repairs, like roof replacement or elevator upgrades.

Low reserves may mean a special assessment—an extra bill you’ll be expected to help cover. A well-managed condo should have detailed records of future expenses and savings plans.

5. You May Be Subject to Rules and Bylaws

From pet restrictions to balcony décor, condos often have bylaws that govern what you can (and can’t) do in your unit.

Be sure to review the condo documents so you’re not surprised by rules like:

• No short-term rentals

• Smoking restrictions

• Limits on renovations

6. Parking and Storage Are Not Always Included

Not all condos come with a parking space or storage locker.

If either is important to you, double-check:

• Is it included in the purchase price?

• Is it deeded separately or assigned?

• Can you rent or sell it later?

7. Amenities Can Add Value—or Go Unused

Pools, gyms, party rooms, and rooftop terraces are great selling points—but only if you’ll actually use them.

Keep in mind: amenities often mean higher condo fees and require ongoing maintenance. Choose buildings that align with your lifestyle, not just your wish list.

8. Resale Potential Still Matters

Even if this is your forever home, life can change.

When buying a condo, consider:

• The walkability and transit options

• Nearby developments that could impact value

• Reputation of the builder or management company

Working with a local REALTOR® who knows the buildings can make all the difference.

Ottawa Condo Market Statistics - May 2025

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for May 2025 in the top five "downtown" areas - Centretown, Byward Market and Sandy Hill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what is sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is roughly 14 days for almost every single transaction.

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Ottawa’s real estate market is proving resilient this spring, showing a healthy boost in buyer activity and steady pricing across most segments. In May 2025, a total of 1,807 homes were sold through the Ottawa Real Estate Board (OREB), marking a 33.1% jump from April and a 14.9% increase year-over-year. This puts sales slightly above the five-year average, despite the market’s late seasonal start.

A Delayed Spring, Not a Cooldown

This year’s spring market took longer to arrive, with April's federal election occupying much of the public's attention. As the dust settled, buyers began to re-engage, pushing May’s activity significantly higher.

OREB President Paul Czan explains, “We’re seeing renewed buyer confidence, with listings increasing and market activity picking up. The steady months of inventory signal that buyers and sellers are finding balance. Still, sellers should note that more competition means pricing strategically and presenting well is more important than ever.”

Ottawa’s Market Stands Strong Nationally

While some larger markets like Toronto and Vancouver are showing signs of slowing down, Ottawa continues to perform steadily. Homes are still selling close to asking price, and the recent decision by the Bank of Canada to hold interest rates has added further confidence for buyers unsure about future rate cuts.

Market Snapshot: Home Prices in Ottawa – May 2025

• Benchmark Price (All Property Types): $629,800 (+0.8% year-over-year)

• Single-Family Homes: $700,000 (+0.6%)

• Townhouses/Row Units: $446,900 (+3.4%)

• Apartments: $404,700 (−3.6%)

• Average Sale Price (All Homes): $728,623 (+4.8%)

• Total Sales Volume: $1.316 billion (+20.4%)

While average sale price can reflect general trends, OREB cautions it should not be viewed as a direct measure of value increases for individual homes. Market conditions and pricing vary greatly by neighbourhood and property type.

Inventory on the Rise

May also saw a healthy rise in new listings, with 3,430 properties hitting the market—an 8.7% increase over last year and 15.8% above the five-year average. At the end of the month, 4,347 active residential listings were on the board, marking a 13.5% year-over-year increase. Inventory levels have grown significantly, sitting 54.2% above the five-year average, offering buyers more choice than in previous years.

Months of inventory—a key indicator of supply—remained stable at 2.4 months, consistent with the same time last year.

What This Means for Buyers and Sellers

• Buyers: Increased inventory and stable prices make this a favourable time to re-enter the market with more options and less pressure.

• Sellers: With competition heating up, proper pricing, marketing, and presentation are essential to standing out.

As Ottawa settles into a more balanced market, both buyers and sellers can move forward with greater clarity. Whether you're thinking about making a move this summer or planning ahead, now is a great time to speak with a local real estate expert about your strategy.

Important to note is that these statistics can only be as accurate as there are condos sold in Ottawa. The more condos sold in an area, the more accurate the averages will be.

Want to chat about your options? Fill out the form at the bottom of the page, or text/call us directly at 613-900-5700 or fill out the form at the bottom of the page.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Why Ottawa’s Condo Market Is Better Positioned Than Toronto’s in 2025

As we move through 2025, there’s a noticeable shift happening in the Canadian real estate market—one that’s especially clear when you compare two of the country’s most watched cities: Ottawa and Toronto.

While Toronto continues to feel the weight of oversupply, price corrections, and investor hesitation, Ottawa’s condo market has quietly emerged as a more balanced, resilient, and accessible alternative. Whether you’re a first-time buyer, investor, or simply looking for long-term value, there are a few key reasons Ottawa’s condo market is better positioned in 2025.

1. Price Stability and Affordability

Ottawa’s condo market continues to offer consistent value. The average condo price in the city remains comfortably below the national average, giving buyers more room to enter the market without stretching their finances.

In contrast, Toronto’s condo prices have seen a more dramatic year-over-year decline. While the city’s higher average pricing once signalled strong demand and appreciation, that trend has slowed significantly. An influx of inventory and a decrease in buyer activity have made Toronto’s market more volatile and less predictable in 2025.

For Ottawa buyers, this means less speculation, steadier appreciation, and more confidence in long-term investments.

2. Balanced Market Conditions

Ottawa is currently operating in a balanced market. Sales and listings are relatively even, giving buyers and sellers equal footing and reducing the extremes of bidding wars or prolonged days on market.

Toronto, on the other hand, has entered a firm buyer’s market, with sales struggling to keep pace with the volume of listings. While that might seem like an advantage for buyers on the surface, in reality it reflects market instability—and for many, that translates to hesitation and uncertainty.

If you're looking for a more dependable buying experience with reasonable competition and healthy demand, Ottawa’s current market conditions offer exactly that.

3. Stronger Rental Fundamentals

In 2025, Ottawa’s rental market is showing strong performance. Rent prices continue to climb modestly, vacancy rates remain low, and tenant demand is steady—particularly near government hubs, hospitals, and universities.

Meanwhile, Toronto’s rental market has softened. Rents have dipped slightly, and a surge of newly completed units is adding pressure. For condo investors, this means Ottawa offers a more secure rental return and fewer concerns about unit turnover or vacancy.

If you’re buying a condo as an investment or considering house-hacking with a roommate, Ottawa’s rental fundamentals help make that decision much easier.

4. Smarter Supply Growth

One of the biggest differentiators between the two cities is how each is handling supply. Toronto’s skyline is dotted with cranes, and 2025 will mark one of the biggest years yet for condo completions. While this was once a sign of strength, it’s now contributing to oversupply issues and prolonged absorption rates.

Ottawa, by contrast, has taken a more measured approach. The number of condo developments remains manageable and better aligned with population growth and buyer demand. This careful pacing has helped protect property values and maintain demand in the resale market.

If you’re concerned about buying into an oversaturated neighbourhood or building, Ottawa’s growth strategy provides some welcome peace of mind.

5. Long-Term Investor Confidence

Ottawa doesn’t always get the same attention as Toronto, but that might be its greatest strength. With a strong public sector employment base, low unemployment, a growing tech scene, and continued infrastructure investment, Ottawa offers a healthy foundation for long-term real estate appreciation.

Toronto’s investor base, while still active, has become more cautious. Concerns around affordability, rent control, holding costs, and capital gains have made buyers think twice.

In Ottawa, the equation is simpler: lower entry prices, consistent tenant demand, and fewer signs of market overheating. It’s not just a safer bet—it’s a smarter one.

Final Thoughts

Toronto may be Canada’s biggest city, but in 2025, Ottawa’s condo market is proving itself to be the better buy. If you’re looking for a combination of affordability, lifestyle, and stable long-term value, Ottawa deserves your full attention.

At mattrichling.com, we specialize in Ottawa’s best condo buildings and investment properties. Whether you’re buying your first home or growing your portfolio, we’ll help you find the right property, in the right location, at the right time.

Let’s make your next move a smart one.

Why Ottawa’s Condo Investors Should Pay Attention to the City’s New Short-Term Rental Rules

Short-term rentals have long been a popular investment strategy in Ottawa, especially for condo owners looking to generate passive income. But in 2025, new municipal regulations have come into effect that significantly impact how, when, and even if condo units can be used for short-term rentals like Airbnb and Vrbo.

If you're a current or aspiring investor, this is not just another bylaw — it could be a game-changer for your portfolio.

Let’s unpack what’s changed, how it affects condo owners, and what smart investors are doing now to adapt.

Understanding the 2025 Short-Term Rental Rules in Ottawa

In an effort to regulate the short-term rental market, protect long-term housing supply, and ensure safety and compliance, the City of Ottawa has rolled out strict new rules. These came into full effect in January 2025 and apply to anyone offering accommodations for less than 28 consecutive days.

Here’s what you now need to operate a short-term rental legally:

• A City-issued permit for any short-term rental unit

• Proof that the property is your primary residence, in most zoning areas

• Proper insurance coverage for short-term rental activity

• Registration on an official city database with a visible permit number on all listings

• Compliance with condo corporation rules and zoning bylaws

In essence, short-term rentals are now only permitted in primary residences — and even then, you must meet specific criteria.

Can Condo Owners in Ottawa Still Use Airbnb Legally?

Yes — but there are significant limitations.

If you live in the condo as your primary residence, you can legally operate a short-term rental (assuming you obtain the permit, meet all insurance requirements, and your condo board allows it).

If it’s an investment property or secondary unit, you’re out of luck in most cases. The City’s rules restrict short-term rentals in secondary or non-owner-occupied dwellings, particularly in residential zones (R1–R4).

That means many popular condo investment strategies that relied on Airbnb revenue are no longer viable — especially in downtown cores like Centretown, Sandy Hill, and Little Italy, where zoning is strict and condo boards are cracking down.

What If My Condo Board Doesn’t Allow Short-Term Rentals?

Even if your unit qualifies under the city’s bylaw, your condo board has the final say.

Many Ottawa condo corporations — especially in buildings constructed in the last 10–15 years — have amended their bylaws to prohibit short-term rentals altogether. Why?

• Increased wear-and-tear on common areas

• Concerns about security and unauthorized guests

• Complaints from long-term residents

• Insurance and liability concerns

If your board bans it, you can’t operate — full stop. You could be fined, sued, or forced to sell. It’s critical to review your condo’s declaration and bylaws before investing.

How This Impacts Ottawa Condo Investors in 2025

For some, this may seem like a reason to abandon condo investing entirely. But in truth, it just means shifting your strategy.

Instead of banking on Airbnb, many investors are now pivoting to long-term rental income. The good news? Demand for rental condos in Ottawa is rising — and with less competition from short-term units, long-term landlords may actually benefit from stronger tenant pools and fewer vacancies.

Things to consider in your new investment strategy:

• Rental demand by neighbourhood: Proximity to transit, universities, hospitals, and downtown still matters.

• Unit type and finishings: Tenants are seeking turn-key, modern units with laundry, storage, and flexible layouts.

• Monthly carrying costs vs. rent: With mortgage rates fluctuating, do the math carefully to ensure your investment cash flows or breaks even.

Neighbourhoods Where Long-Term Rentals Still Perform Well

If you're rethinking your next condo investment in Ottawa, here are a few areas where long-term rentals remain strong:

• Hintonburg & Wellington West: High walkability, trendy cafés, and easy access to downtown via LRT.

• Little Italy / Preston Street: Still booming with demand from students, young professionals, and hospital staff.

• Sandy Hill: Close to the University of Ottawa and Rideau Centre, ideal for student rentals.

• Glebe & Old Ottawa South: Highly desirable for families and professionals alike, especially for two-bedroom or larger units.

Can You Still Make Money with Short-Term Rentals in Ottawa?

In some cases, yes — but only if:

• You live in the unit full-time and only rent it out while you’re away

• You have a fully legal secondary dwelling unit in your home (not a condo)

• Your condo board explicitly permits short-term rentals in writing

That’s a much narrower field than before, and it’s pushing many former Airbnb owners to either convert to long-term or sell and reinvest elsewhere.

Tips for Investors Moving Forward

1. Do your research on zoning and bylaws before purchasing any condo unit.

2. Always ask to review condo board meeting minutes and bylaws before firming up your offer.

3. Talk to your mortgage broker about financing options suited to rental properties.

4. Work with an agent who understands investment properties and Ottawa’s ever-evolving municipal policies.

Time to Rethink the Condo Investment Playbook

Ottawa’s short-term rental market has changed — and so should your strategy.

While the days of running hands-off Airbnb units in your spare condo may be over, there’s still plenty of room for smart investing in Ottawa’s condo market. Long-term rentals remain in high demand, and condo ownership offers long-term equity growth, tax advantages, and predictable income streams.

Need help finding a condo that fits the new rules of the game? I’ve helped hundreds of investors build smart, sustainable portfolios in Ottawa — and I’d love to help you next.

Get in touch here for a no-pressure conversation.

The Unexpected Perks of Living in a Downtown Ottawa Condo

When most people think about buying a condo in Ottawa, they focus on square footage, monthly fees, and how close the nearest LRT stop is. And sure, those things matter—but condo living is about more than just logistics.

If you’ve ever wondered what it’s really like to live in a downtown Ottawa condo, here’s a look at the underrated benefits you might not expect (and why so many people never want to go back to suburban living once they’ve made the move).

1. Everything Becomes a “Walk”

Living downtown means your definition of distance changes completely. Need groceries? The Rideau Centre? A spin class? A date-night cocktail? You’re probably walking there. And if not, it’s a five-minute bike or Uber.

Downtown condo living gives you true walkability—something that suburban developments try to market but rarely deliver. It’s not just convenient, it’s a lifestyle.

2. No Yardwork, No Guilt

It’s Saturday morning, and your suburban friends are mowing lawns, raking leaves, or trying to fix a leaky roof. You? You’re sipping coffee in your pyjamas on your balcony, deciding whether to check out the new brunch spot on Elgin or head to the ByWard Market.

Condos take the “maintenance” out of homeownership. There’s freedom in knowing you don’t have to do anything but enjoy where you live.

3. A Front-Row Seat to Ottawa Culture

From food festivals to art markets to pop-up patios, Ottawa’s downtown is constantly buzzing. Living in a condo puts you in the middle of it all. You’re not planning an outing—you’re already there.

And with venues like the NAC, Lansdowne, and Parliament Hill just steps away, you’ll find yourself saying yes to more events (and actually going).

4. Built-In Security and Peace of Mind

Most downtown condo buildings include secure entrances, underground parking, and even concierge services. It’s a different feeling when you leave for a weekend trip knowing your mail is locked up, your car is inside, and your front door is protected.

This added layer of security is especially valuable for solo buyers, frequent travellers, or anyone who just wants to feel safe in the city.

5. Smarter Use of Space

Condos tend to encourage you to live with intention. You’re not paying to heat three extra rooms you never use. Instead, you’ve got exactly what you need—and often, smart design means storage, built-ins, and flexible layouts that work better than larger homes.

Plus, many buildings include amenities like gyms, rooftop terraces, and lounges—so your living space extends well beyond your unit.

6. Real Community, Without the Chit-Chat

One of the biggest surprises for many condo buyers? A sense of community. You get to know your neighbours—not because you’re knocking on their door for a cup of sugar, but because you see them in the elevator, or on the rooftop, or during a fire alarm drill at 3 a.m. (hey, it happens).

It’s connection without pressure. Privacy with just enough interaction to feel like you belong.

The Bottom Line

Living in a downtown Ottawa condo isn’t just about convenience or affordability—it’s about how you want to spend your time. Whether you’re a first-time buyer, a remote worker looking to ditch the suburbs, or someone who’s ready for a lifestyle shift, a condo can unlock more than just equity—it can unlock ease, freedom, and access to the best parts of the city.

Looking for a condo that fits your lifestyle?
We know every building. Let’s find the one that fits you.

Why Buying a Condo Is Still One of the Smartest Moves You Can Make in Ottawa

When it comes to building long-term wealth, owning a condo in Ottawa remains one of the most accessible and strategic ways to get into the real estate market, especially if you’re a first-time buyer or looking for a low-maintenance lifestyle.

But beyond the obvious reasons like location and affordability, there are a few less-talked-about benefits to condo living that still make it a smart move in 2025.

1. Built-In Maintenance = Built-In Peace of Mind

If you're not into snow shovelling, lawn mowing, or emergency roof repairs, condo life gives you the freedom to live without the chores of traditional homeownership. Your monthly condo fees go toward shared services like building upkeep, snow removal, landscaping, and more, so you can focus on living, not labour.

2. Location Without Compromise

Condos often exist where freeholds can’t: right in the heart of the city. Want to live steps from the Canal, Parliament Hill, or your downtown office? A condo might be your best—and only—affordable way to do it. This kind of access is part of what keeps condos in demand over time.

3. Predictable Monthly Costs

Your condo fee covers shared expenses, which means fewer financial surprises. While the idea of monthly fees turns some people off, many buyers actually appreciate knowing exactly what’s included, and budgeting becomes easier when you’re not constantly worried about the next big home repair.

4. A Great First Step into the Market

For first-time buyers, condos can offer a lower price point, fewer maintenance responsibilities, and a smart way to build equity. Even if your long-term goal is a freehold, getting into the market with a condo lets you grow your investment while living in a place you love.

5. Lifestyle Amenities You Actually Use

Many modern condo buildings come with lifestyle perks like fitness centres, rooftop terraces, bike storage, concierge service, or guest suites. These aren’t just nice-to-haves—they’re quality-of-life upgrades that can make your day-to-day feel more comfortable and connected.

Final Thoughts

The truth is, condo living isn’t for everyone. But if you value simplicity, community, location, and a more streamlined approach to homeownership, it’s worth exploring your options. Whether you’re looking for a minimalist bachelor unit or a penthouse with skyline views, there’s likely a condo in Ottawa that fits your lifestyle—and your budget.

Ready to start your search? Let’s talk.

Is It Time to Upgrade Your Ottawa Condo? Here’s Why 2025 Might Be the Perfect Moment

If you’ve been living in your Ottawa condo for a few years, you might be wondering: Should I make a move? Is there something better out there?

Whether your lifestyle has changed or you’re simply ready for more space, upgrading your condo could be the right next step. And in 2025, the timing might be ideal.

Let’s break down what’s happening in the Ottawa condo market right now—and why moving to a bigger or more luxurious unit might be easier (and smarter) than you think.

You’ve Likely Built Equity—Now You Can Use It

Condo prices in Ottawa have seen steady growth, especially in core neighbourhoods like Centretown, Little Italy, and Westboro. If you bought before 2022, there's a good chance you've built equity that can now be used as a down payment on a larger unit—or even a luxury condo.

According to the Ottawa Real Estate Board, the average condo sale price in April 2025 was up 3.2% year-over-year, while inventory levels rose, offering more selection to buyers.

If you're not sure where you stand, get a free condo valuation and we’ll break down your options.

The Market Is Giving Buyers More Leverage

Unlike the frenzied years of 2020–2022, the condo market in 2025 is more balanced. We’re seeing less competition and more high-quality listings, particularly in buildings where units rarely come up for sale.

This means you don’t have to compromise—you can take your time to find the layout, view, and amenities that truly match your lifestyle.

Buildings worth watching this year include:

• The Charlotte (Sandy Hill)

• Claridge Icon (Little Italy)

• The Rideau at 1035 Bank (Glebe)

• The Metropole (Westboro)

You Know What You Want—And What You Don’t

Once you've lived in a condo, you're no longer guessing. You know which layouts work. You understand the value of soundproofing, balcony exposure, building maintenance, and elevator speed.

Whether you’re looking for a dedicated office space, a larger kitchen, or an extra bedroom for guests, upgrading now lets you buy with intention.

Luxury Is More Attainable Than You Think

A “luxury condo” doesn’t have to mean an eye-popping price tag. In fact, many of Ottawa’s most desirable units offer long-term value through:

• Higher-quality finishes

• Better building amenities

• Lower condo fees per square foot

• Underground EV-ready parking

• Smart layouts that grow with you

When you factor in your equity, a luxury upgrade might not be out of reach at all.

You’re Thinking Long-Term

Maybe you’re ready to host family dinners. Or maybe you're prioritizing walkability, security, and peace of mind. Whatever your goals, your condo should support your future, not just your present.

We help our clients transition into that next chapter with ease, without sacrificing comfort, timing, or control.

FAQ: Upgrading Your Ottawa Condo

Q: How do I sell and buy at the same time?
We work with you to time your sale and purchase to avoid stress. This can include bridge financing or negotiating flexible closing dates to keep things smooth.

Q: What kind of upgrade can I afford?
It depends on your current equity and the neighbourhoods you're targeting. We’ll connect you with a trusted mortgage advisor to get the full picture.

Q: What areas in Ottawa are best for luxury condo living?
The Glebe, Westboro, Little Italy, and Centretown continue to lead for boutique and high-end buildings with amenities that appeal to long-term owners.

Ready to Explore the Upgrade?

At MattRichling.com, we don’t just help people buy condos—we help them level up. If you're starting to think about what's next, let’s talk strategy.

Request a personalized valuation or reach out to start the conversation.

Your next space could be the one that finally feels like home.

What $500,000 Buys You in Ottawa’s Condo Market in 2025

If you’re looking to buy a condo in Ottawa in 2025, the $500,000 price point is where things get interesting. It’s the sweet spot between entry-level affordability and elevated lifestyle — but what you get for your money can vary wildly depending on where and what you’re buying.

Here’s a closer look at what $500,000 actually gets you in today’s Ottawa condo market — and what to know before you start your search.

Neighbourhood Breakdown: Where to Look

1. Centretown & Golden Triangle
These areas are known for walkability, Parliament views, and proximity to downtown offices. For $500K, expect:

• 1-bed + den or 2-bed units in established buildings like The Mondrian or The Bowery

• ~700–900 sq. ft.

• Access to rooftop terraces, gyms, and indoor parking (though not always included)

• A blend of classic concrete construction and newer glass towers

2. Westboro & Hintonburg
For buyers who want trendy coffee shops, local boutiques, and access to the O-Train:

• 1-bed units with high-end finishes in boutique buildings like The Eddy or UpperWest

• Some 2-beds in older, lower-rise buildings

• Less square footage but strong appreciation potential

• High rental desirability if you’re buying as an investment

3. The Glebe & Old Ottawa East
These neighbourhoods offer fewer condo buildings but lots of lifestyle appeal. At $500K, you might find:

• 1-bed units in modern developments like Greystone Village

• River views or green space nearby

• Top-tier walkability and access to Bank Street shops, Lansdowne, and trails

4. ByWard Market & Lowertown
Close to nightlife, restaurants, and the Rideau Centre:

• You can still find spacious 2-bedroom units in older buildings

• Newer buildings (like Claridge Moon or 700 Sussex) are tighter on space but high on finishes

• Think hotel-style amenities, concierge service, and strong long-term value

What to Expect Inside

At the $500K mark, most buyers can expect:

• Stainless steel appliances

• Stone countertops

• In-unit laundry

• 9' ceilings (in many cases)

• One bathroom, though 1.5–2 bathrooms are still possible in older layouts

• One parking space is common but not guaranteed — especially downtown

The tradeoff in newer buildings is often square footage vs. finish quality, while older buildings may offer more space with dated interiors (which can be upgraded).

Market Conditions in 2025

• The average condo price in Ottawa sits around $437,000 as of early 2025, but $500K gives you access to better layouts, views, and buildings in prime locations.

• Condos have seen a 3–5% increase in value year-over-year, depending on neighbourhood.

• Inventory is relatively balanced, but well-priced, well-marketed units in top locations still move quickly.

Pro Tips from the Field

• If you want two bathrooms, look in older buildings. Many 1990s and early 2000s buildings offer generous layouts at better value per square foot.

• Corner units and higher floors carry premiums, but they also hold value better over time.

• Parking adds $30,000–$60,000 in value, depending on location — and it’s becoming increasingly rare in new builds.

• Avoid high condo fees without justification. Look for buildings where the fees reflect real amenities and maintenance, not just poor management.

Final Thoughts

Ottawa's condo market in 2025 offers a wide range of options for the $500,000 buyer — from minimalist bachelor pads with skyline views to roomy two-bedrooms in walkable neighbourhoods. Whether you're buying your first place, downsizing, or investing, the key is knowing your must-haves and working with someone who knows where to find them.

At mattrichling.com, we specialize in helping clients navigate the condo market with clarity, confidence, and local insight. If you're thinking of buying a condo in Ottawa this year, let's talk — and let’s find something that’s worth every penny.

Freehold vs. Condo in Ottawa: Which One’s Right for You in 2025?

Whether you're buying your first condo or adding to your investment portfolio, one question matters more than most: will it hold its value? In Ottawa’s evolving condo market, not all buildings are created equal — and long-term resale potential comes down to more than just square footage or finishes.

Here’s what we look for when evaluating whether a condo is likely to retain its value over time:

1. Location Still Reigns Supreme
It’s a cliché for a reason. Proximity to transit, downtown employment hubs, grocery stores, nightlife, or the Rideau Canal adds long-term demand. Walkable neighbourhoods like Centretown, Westboro, Little Italy, and The Glebe consistently perform well — and tend to weather market shifts more smoothly.

2. Quality of Construction
Buyers are getting smarter. They’re asking about soundproofing, HVAC systems, building envelope issues, and more. Well-built concrete buildings (especially those with good reserve fund studies and proactive condo boards) almost always hold their value better than cheaper, poorly maintained options.

3. Building Reputation
Ottawa’s real estate community talks — and so do residents. Certain names like Domicile, Charlesfort, and Ashcroft (Q West series) tend to have better track records when it comes to quality, service, and resale. If a building has a history of major repair issues or lawsuits, that reputation can drag down value even in a hot market.

4. Amenities that Actually Matter
Pools are nice. So is a rooftop terrace. But what’s essential is well-managed amenities that don’t push condo fees into the stratosphere. Think practical: in-unit laundry, decent storage, efficient elevators, parking that isn’t a daily headache, and bike storage.

5. Strong Management & Financials
A good condo board and a healthy reserve fund matter. We review these documents for every buyer, and for good reason: buildings with strong governance are able to keep up with maintenance and avoid unexpected special assessments that scare off future buyers.

6. Supply and Demand Within the Building
In larger buildings, it’s easy to overlook the internal supply curve. If 8 identical units are always listed at the same time, that’s a red flag. Boutique buildings or units with a truly unique layout, view, or outdoor space tend to perform better over time.

The Bottom Line?
Buy the right condo, and it will hold its value — even when the market shifts. At mattrichling.com, we specialize in helping buyers and investors find the best-performing buildings and avoid costly surprises. Curious about which buildings in Ottawa are holding strong in 2025? Reach out to us — and let’s talk strategy.