Episode 187: Building-To-Rent with Natalie Cloutier
Summary
Some people grow up playing astronauts and ballerinas, while others design play houses. My guest today was the latter. Her strategy about building purpose-built rentals, but on a small scale, is a very unique take on providing housing and creating communities. Natalie Cloutier is a mom, an author, a designer, a builder and a champion. In today’s episode, she and I discuss the ins and outs of her build-to-rent strategy, her landlording philosophy and the book she’s written about all of the above.
Listen to the full episode :
This Week’s Blog Post:
Growing Up with a Passion for Design
From the very beginning of my conversation with Natalie, I was struck by how her passion for building and design started long before she ever imagined being a landlord. She grew up drawing houses, sketching bedrooms, and focusing on layouts while other kids were drawing rainbows and pirate ships. That passion led her to study architectural technology, meet her husband in college, and begin her work as a custom house draughtsman. What fascinated me was how naturally her path shifted from design into building and eventually into landlording, almost one step at a time. They bought a condo they didn’t love, couldn’t sell it, and had to rent it out so they could move forward with building their first home using sweat equity. That basement apartment turned into their introduction to house hacking long before it was even a term.
Growing a Building Strategy and Navigating Stress
As she shared her journey, the progression from that first build to multiple duplexes and then into larger infill projects made complete sense. Once you build one project and your team, your bankers, and your vendors know you, it becomes easy to keep going. But with that growth came burnout, pivots, and stress—especially around COVID when material costs surged and trades became difficult to manage. I connected with her on that deeply, because whether you’re building in Ontario, British Columbia, or Hawaii, the challenges of trades, municipalities, and unpredictable delays can wear down even the most resilient entrepreneurs. She and her husband had to adjust repeatedly, and she shared openly about him recovering from a burnout and their decision to take a break after their current project.
Small-Scale Development and Pushing Through Red Tape
Natalie’s intentional focus on small-scale development was shaped by family history and minimizing risk. She described choosing infill projects because services already exist, permits are easier, and the build-rent-refinance-repeat model can be scaled with a small but mighty team. But she also told me about a major hassle with the city when she became the first in her market to use Ontario’s new bill allowing additional dwelling units. The ability to create a triplex or six-plex without massive development charges sounds fantastic—unless the municipality fights you. She spent eight months pushing back, ultimately winning, but the stress was enough to make her rethink doing larger expansions in that market. The grief-to-dollars ratio became very real.
Operating Systems, Boundaries, and Pets
As we shifted into landlording tactics, we talked about policies—especially around hiring tenants, renting to friends or family, and handling pets. She emphasized having internal policies written out so emotions stay out of business decisions, and she shared how her VA now handles the day-to-day tasks so she can sleep better at night. It resonated when she explained that a good system keeps the business running even when life gets busy. With pets, she allows them but uses clear limits like one dog per unit and checks references specifically for pet behavior. I compared this to one of my buildings where cat issues forced us to make it a no-cat property, and we talked about how the key is maintaining quiet enjoyment and creating boundaries that keep operations smooth for everyone.
Identity, Seasons of Life, and Building a Future
By the end of our conversation, we circled back to identity, motherhood, and being strong female entrepreneurs in a space where women are often present but not always visible. We both recognized how seasons of life affect how we show up in our roles, whether as builders, designers, moms, or podcasters. For her, this next season might include selling plans on her website, taking a break from building, or returning to design in a way that fits her life. I loved her parting thoughts about not comparing yourself to others, focusing on your goals, and remembering that to be free, you have to be disciplined. It’s a powerful reminder for landlords at any stage—whether newbie or nugget—that you can choose your path and adjust it as life evolves.