Turnkey Rental Construction: How Property Owners Build Income Properties Without Managing a Build

Building rental units in Nova Scotia can be a headache. A fourplex might cost $640,000, but with the usual cost-plus model, that can swell to $832,000 after common 30% overruns. And delays? Expect to lose $8,800 per month in rental income if your project drags on for 18 months, which is typical. Managing multiple contractors, architects, and engineers only adds stress and confusion.

Turnkey rental construction simplifies this. Companies like Helio Urban Development handle everything - design, permits, construction - under one fixed-price contract. You know the cost upfront, $160,000 per unit, and they deliver in six months or less, backed by a $1,000-per-day delay penalty. This article explains how the process works, why it saves time and money, and what you can expect when building in Nova Scotia.

Why Traditional Multi-Unit Construction Fails Property Owners

Traditional construction often relies on a cost-plus pricing model, where unexpected expenses - like surges in lumber prices or labour costs - are passed directly to the property owner^[1]. This means the contractor gets paid their fee regardless of how much the final cost climbs, leaving you to absorb market volatility.

On top of this, there’s the headache of managing multiple professionals: planners, architects, structural engineers, general contractors, and subcontractors, each working independently. When plans don’t align - say, engineering drawings contradict the architectural design - it sparks a cycle of blame and delays. These hold-ups can lead to roughly $8,800 per month in lost rental income^[2].

What this means for you: No single party takes responsibility for both timelines and profitability. Each professional focuses on their own scope of work, rather than ensuring the project delivers the best return on your investment.

Cost-Plus vs Fixed-Price Construction

The cost-plus model charges for materials and labour, with an added fee for the builder’s overhead and profit. This approach often results in "profit stacking", as each subcontractor adds their own markup. Budget overruns of around 30% are common - what starts as an $800,000 project can easily balloon to $1,040,000^[2].

A fixed-price contract, on the other hand, locks in costs before construction begins, meaning the builder absorbs any increases in material or labour prices. Taylor M., a duplex owner in Nova Scotia, shared their experience:

"I'd heard horror stories about cost-plus builders. With Helio, my final invoice matched the original contract - no last-minute surprises"^[1].

These pricing challenges are only made worse by poor contractor coordination.

The Contractor Coordination Problem

Unpredictable costs are just one part of the problem. Managing a traditional project often forces property owners into the role of project manager, juggling schedules across multiple contractors. These projects can drag on for 8 to 18 months because no single entity oversees the entire timeline. Even if one crew finishes early, the next trade may not be ready to step in.

This lack of coordination can have serious financial consequences. Delays cost about $8,800 per month in lost rental income. Miscommunications - like disputes over zoning setbacks - can result in up to $600,000 in lost equity value. When issues such as a mechanical reroute or permit rejection arise, the fragmented team often resorts to finger-pointing instead of resolving the problem efficiently^[2].

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How Helio's Design-Build Model Works

Helio Urban Development replaces the typical fragmented construction process - where property owners juggle multiple professionals - with a fully integrated team. Under one contract, Helio combines the expertise of planners, architects, structural engineers, and construction crews. This approach eliminates the coordination gaps that often lead to permit delays and disputes. Instead of managing multiple invoices or mediating between contractors pointing fingers, you work with one company that takes full responsibility from design to tenant-ready completion.

This integrated setup also tackles the profit-stacking problem common in traditional builds. By keeping key trades in-house, Helio avoids the layering of margins that can inflate project costs by as much as 30% ^[1][2]. The result? A smoother, more predictable process for property owners.

What this means for you: Helio offers a fixed-price contract and guarantees project completion within six months ^[2]. If they miss the deadline, they pay penalties of up to $1,000 per day, aligning their priorities with yours. For example, the six-unit project on Arthur Street in Truro (started July 2025, scheduled completion January 2026) and the eight-unit build in downtown Windsor (started June 2025, scheduled completion December 2025) are both on track to meet these commitments ^[2].

One Contract, One Team

The benefits of this integrated model extend beyond cost savings. With Helio, architectural plans and engineering drawings are developed in-house, reducing the risk of mismatches that often lead to costly change orders. If adjustments are needed - like rerouting a mechanical line - they’re handled internally, often within hours. Multi-unit developer Kelvin R. shared his experience:

"A small design fix popped up on one mechanical line. Normally, that'd spark sub #2 blaming sub #4. Helio solved it in-house that afternoon, no drama." ^[3]

Helio also operates on a unified project schedule. This means when one phase finishes early, the next begins immediately - avoiding the downtime that often occurs in traditional builds when trades aren’t available ^[1][3]. On top of that, a Professional Engineer (P.Eng) inspects the site five times during construction, not just at final occupancy. This ensures issues are caught early, before they’re hidden behind drywall ^[2].

Property Types Helio Builds

Helio focuses on multi-unit rental properties across Nova Scotia, handling projects from four to 24 units. Examples include fourplexes (starting at $640,000), sixplexes ($960,000), eightplexes ($1.28 million), and small apartment buildings ^[2]. All designs are pre-approved for CMHC MLI Select financing, making it possible for property owners to secure 95% loan-to-value mortgages. For a fourplex, this could mean a down payment as low as $30,000 to $40,000.

Current projects include a six-unit building on Arthur Street in Truro, an eight-unit development on Chadwick Street in Dartmouth, and a 10-unit apartment building on Richard Street in Kentville ^[2]. These properties are delivered tenant-ready, complete with Energy Star appliances, smart home features like keyless entry and programmable thermostats, blinds, and post-construction cleaning ^[2].

Helio's Pricing and Timeline Guarantees

Helio backs its integrated design-build approach with clear pricing and timeline commitments, giving property owners more control over their projects.

The fixed-price model starts at $160,000 per unit, which includes architecture, engineering, construction, and project management. For reference, this is about 10% less than the CMHC benchmarks for comparable projects in Nova Scotia. A fourplex begins at $640,000, a sixplex at $960,000, and an eightplex at $1.28 million. These prices are locked in, meaning no surprise change orders or cost overruns. As Lloyd Liu, Co-Founder & CEO, states:

"I personally review every quote and guarantee every timeline" ^[2].

If material or labour costs increase, Helio takes on the difference, protecting owners from unexpected price hikes. This approach removes the budget uncertainty frequently seen in traditional cost-plus builds, where final invoices can exceed initial estimates by 20–30%.

Helio also guarantees project completion within six months of permit issuance, offering a $1,000 daily penalty for delays ^[2]. Traditional builds, by comparison, often stretch to 18 months, which can result in significant lost rental income - potentially $8,800 per month on some projects ^[2]. Yuan He, Co-Founder & CTO, adds:

"Our AI scheduling system prevents the delays that killed our first project" ^[2].

The fixed price doesn’t include costs such as land purchase, municipal permit fees, demolition, utility connections, or landscaping. To avoid surprises, Helio conducts a site assessment before signing the contract, identifying issues like rock removal or steep slopes that might increase costs. Owners are kept in the loop with daily photo updates and weekly progress reports, ensuring a fully transparent process. By addressing potential cost variables upfront and managing them proactively, Helio keeps your project running smoothly, letting you focus on generating future rental income.

CMHC MLI Select Financing Benefits

Helio's designs are already pre-qualified for CMHC MLI Select financing, giving property owners access to loans covering up to 95% of the project's value. This means less upfront cash is needed, with amortization periods stretching up to 50 years for projects scoring 100 points or more. For instance, on a $640,000 fourplex, the typical down payment of $128,000 (20%) drops to just $32,000 under this program ^[6][7].

The CMHC MLI Select program uses a point-based system that rewards affordability, energy efficiency, and accessibility. Higher scores lead to better loan terms and lower insurance premiums - 10% for 50 points, 20% for 70 points, and 30% for 100 points. Helio's designs consistently hit these benchmarks by ensuring full visitability under CSA standard B651:23 and exceeding energy code requirements by 40%. With in-house architects and engineers, Helio integrates the necessary certifications for energy and accessibility directly into the design-build process ^[6][4].

Pre-Qualified CMHC Designs

Helio's pre-qualified designs simplify the CMHC application process, cutting the typical three-month waiting period ^[7]. New builds, like those offered by Helio, often secure better financing terms under MLI Select compared to resale properties. However, property owners must commit to capping rent increases for at least 10 years (currently around 4.7% annually in Nova Scotia for 2026) to earn these financing benefits. Additionally, CMHC approvals include a six-month possession window, which aligns perfectly with Helio's guaranteed six-month construction timeline ^[8][6][7].

By using pre-qualified designs, Helio reduces financing uncertainty and provides clear details on what’s covered and what might incur additional costs.

What's Included and What Costs Extra

Helio offers fixed-price construction starting at $160,000 per unit. This base price covers architectural plans, structural engineering, building permits, foundation work, framing, HVAC systems, and interior finishing ^[2]. For those opting into the CMHC MLI Select package - priced at $200,000 per unit - efficiency upgrades, Energy Star appliances, and smart home features are included to meet the 40% energy efficiency threshold ^[4].

Certain costs fall outside the base price. Exclusions include land acquisition, municipal permit fees, demolition, extended utility connections, landscaping beyond basic grading, and energy attestation fees ^[2][6]. Helio conducts a site assessment before finalizing the contract to flag potential additional costs, such as rock removal or steep slope adjustments, ensuring transparency from the start ^[1]. Standard utility connections are typically included, but extended trenching or septic and well systems are quoted separately.

What this means for property owners: With CMHC MLI Select financing, down payment requirements can drop from 20% to as low as 5%, and longer amortization periods of up to 50 years help reduce monthly payments. This improves cash flow from the moment tenants start moving in. Helio’s clear pricing structure and financing advantages eliminate surprises, making the process smoother for property owners in Nova Scotia.

The 5-Step Turnkey Construction Process

Helio takes raw land and transforms it into rental units ready for tenants in just six months, handling every detail so you don’t have to. Even before you sign on, Helio invests $10,000 into feasibility analysis and 3D visualization to ensure full clarity. Here's how the five steps come together to deliver your project efficiently and on schedule.

Step 1: Site Assessment

Helio starts with a free site assessment to determine if your property can support multi-unit construction. This evaluation, done virtually or in person, examines zoning setbacks, density limits, utility access, and any unique challenges like steep slopes or bedrock. If your property lacks municipal water or sewer, the assessment also includes well and septic requirements. Within 48 hours, you'll receive a fixed quote, with any additional costs beyond the base $160,000 per unit flagged upfront.

Why this matters: Missing zoning setbacks can cut the number of units you can build, potentially costing you up to $600,000 in lost equity. Helio’s no-cost assessment helps you avoid these pitfalls before committing to the project.

Step 2: Design Selection

Next, you’ll choose from Helio’s lineup of standard designs or CMHC MLI Select-certified options, tailored to your lot size and financial goals. These pre-approved designs eliminate the months typically spent on custom drafting and ensure compliance with local construction and zoning rules. Options include:

• The Elmwood: A detached 3-bedroom unit for about $283,973
• The Sprucewood: A duplex with two 3-bedroom units for roughly $359,824
• The Birchwood: A triplex with three 2-bedroom units for approximately $502,488

For those aiming for higher energy efficiency and easier financing, the CMHC MLI Select-certified designs cost around $200,000 per unit. These include a full appliance package and deliver 40% better energy performance. This phase wraps up with a detailed 3D visualization of your selected design.

Step 3: Contract and Permits

Helio then locks in a fixed-price contract, guaranteeing no unexpected costs or overruns. Their integrated team manages all municipal permit submissions, including building, development, and utility approvals, ensuring nothing gets held up due to miscommunications or design mismatches. At this stage, you’ll also finalize your finishing package, keeping pricing and timelines clear.

Step 4: 6-Month Construction

From the moment permits are approved, Helio guarantees construction will be completed in six months. If delays occur, they back this promise with a penalty of up to $1,000 per day. Using AI-driven scheduling and regular inspections, Helio minimizes the inefficiencies common in fragmented builds. A Professional Engineer conducts five inspections during construction, and you’ll receive daily photo updates to stay informed.

Step 5: Tenant-Ready Delivery

Once construction is finished, Helio delivers rental-ready units. This includes post-construction cleaning and the installation of standard hardware, doors, and shelving. For an additional $15,000 per unit, the optional Rental Ready Package includes Energy Star appliances and smart home features. Helio also offers a two-year warranty on workmanship and materials, managed through a single point of contact for easy post-delivery support. The six-month construction timeline aligns with CMHC’s possession period for MLI Select financing, allowing you to secure funding and start earning rental income almost immediately.

Why this matters: Helio’s integrated approach can save you about $144,000 in lost rent compared to traditional 18-month builds. With their guaranteed timeline and tenant-ready units, you could start collecting rent just seven months after breaking ground, all without the headaches of managing multiple subcontractors. Helio’s process is designed to deliver income properties on time, within budget, and with minimal stress for property owners.

What This Means for Nova Scotia Property Owners

Helio’s approach transforms the uncertainty and stress of traditional builds into a predictable, streamlined process. Instead of juggling six or more professionals over 12 to 18 months - and absorbing every surprise cost or delay - property owners sign one contract, lock in a fixed price starting at $160,000 per unit, and receive tenant-ready units in just six months ^[2]. As Lloyd Liu, Co-Founder & CEO, puts it:

"I personally review every quote and guarantee every timeline" ^[2].

This simplicity translates into clear financial and operational benefits. By finishing projects faster, you can start collecting rent a full year earlier, potentially saving up to $144,000 in lost income on a six-unit building ^[5]. The fixed-price model also shields you from unexpected material cost spikes and rising labour rates, avoiding the 30% budget overruns that are common with cost-plus contracts ^[2]. And if Helio misses the six-month timeline, they’ll pay you up to $1,000 per day ^[2].

The model is also designed to work seamlessly with CMHC MLI Select financing, which offers up to 95% loan-to-value and 50-year amortization terms ^[4]. For example, building a fourplex could require as little as $30,000–$40,000 down, compared to $100,000+ for purchasing an existing rental property. With 58 units currently under construction across Nova Scotia - spanning Truro, Windsor, Bridgewater, and Kentville - Helio has demonstrated its ability to deliver at scale ^[2].

This turnkey model eliminates the usual headaches of multi-unit construction. You don’t need construction experience, a network of contractors, or months of free time to oversee the project. If you have land, financing approval, and six months, Helio takes care of everything - from design to handing over tenant-ready units.

FAQs

What’s the catch with a fixed-price build?

Fixed-price builds hinge on detailed upfront planning and design. If unforeseen problems or changes occur during the project, the builder is responsible for covering the additional costs to stick to the agreed price. This can sometimes lead to compromises in quality or potential delays if these challenges aren’t handled effectively.

How do you enforce the 6-month timeline?

Helio sticks to a strict 6-month timeline using a fixed-price, design-build approach. This method guarantees delivery by integrating real-time cost tracking, centralized procurement, and a streamlined workflow that sidesteps frequent delays. Issues like permitting bottlenecks, material shortages, and labour disruptions are addressed proactively. The goal is to keep your project on track and minimize hassle for property owners.

Can I use CMHC MLI Select on my land?

Yes, you can use CMHC MLI Select for multi-family projects with five or more units, including rental properties built on land. To qualify, the project must meet specific eligibility criteria, such as affordability benchmarks, energy efficiency standards, and minimum project size requirements.