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Landlords struggle to draw tenants

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Canadian Realestate Magazine | 09 Jun 2015, 12:06 PM Agree 0
A tough job market has reversed the fortunes of landlords once the envy of investors across the country.
  • Don R Campbell | 09 Jun 2015, 01:47 PM Agree 0
    We are finding the opposite. There seems to be more people in the 'renter' pool than the buyer pool right now. And in fact "street rents," for quality properties, have been inching upwards as ads are drawing more calls. (Both in Edmonton and Calgary)

    In the smaller centers (Grande Prairie , Ft Mac etc) it has become more difficult to fill vacancies, but well maintained properties are having little issue.

    This may explain why this phenomena is occurring:

    6 Factors Why Calgary’s Real Estate Market Hasn’t Collapsed and rental Market remains strong http://www.donrcampbell.com/6-factors-why-calgarys-real-estate-market-hasnt-collapsed
  • Keith | 09 Jun 2015, 01:48 PM Agree 0
    If a landlord has a hard time finding tenants in a 2% vacancy market then the problem is likely how poorly written their ads are, how they treat tenants or the condition of the unit, not a lack of tenants. A 2% vacancy rate is nothing to cry about. We still have a lot of migration coming to this province. Many landlords are willing to ride the high and save nothing or spend nothing to maintain or improve a rental. If they choose to manage that way it helps make my rental that much more desirable.

    All of our tenants are our customers and we treat them like customers. That builds loyalty and trust.
  • Terrance Brennan | 12 Jun 2015, 03:10 PM Agree 0
    While there is no doubt a contraction in the Oil Industry is going to have an impact in certain sub-rental markets in Calgary. The broader question might be is this (miniscule) slack going to be picked up with people retreating from mortgages in favor of rental accommodations?



  • JM | 12 Jun 2015, 03:26 PM Agree 0
    Terrance, email me. Jordan.maxwell@kmimedia.ca
  • John | 15 Jun 2015, 05:37 AM Agree 0
    Increasing rents 20 to 30%?
    year-over-year?

    And they can't weather a whole one or two months without a tenant?
    Wow - not great planning....
    Especially given the windfall they were gifted with "Year-over-year"!

    Go in to your apartments clean, repair, paint.

    Be thankful for the good years.

    Nothing ever stays the same...




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