Alberta Landlords Association

Calgary Landlords – Higher Rents, Lower Vacancies, New Demand From Buyers

February 7th, 2013

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According to the Canada Mortgage and Housing Corporation (CMHC) things are looking good for Calgary landlords. The rental market in the city is tightening up. Rents are increasing and vacancies are declining.

This is great news for landlords who have faced lots of challenges recently with so many bad tenants out there.

Richard Cho is with Canada Mortgage and Housing Corporation. He is a senior market analyst and has been researching the Alberta rental market.
According to Cho, the decline in the vacancy rate and raising rents is going to create a dramatic trend. Renters have strong incentive to become home-owners.
Vacancy rates in Calgary and her suburbs dropped to only 1.3% in October, 2012. This is a significant decline compared to the 1.9% vacancy rate in 2012.
Rents have also gone up in Calgary.
Cho said not only will this lead some current tenants to buy. It will also lead them to seek out rental properties in “secondary markets” such as condominium buildings that investors decide to rent out. The demand for high quality condos as rentals is also occurring in markets such as Toronto.

Cho also predicts there will be more construction of rental property accommodation in 2013. This is a great opportunity for investors to purchase new, attractive, high quality properties.

The Calgary market is growing fast and a great opportunity for landlords and investors. Edmonton and other Alberta cities are also seeing amazing growth and improving conditions.

Vacancies are low and rents are rising. Alberta also has the most fair rules for landlords and tenants in Canada.

With new rental stock being built investors should seriously consider getting into our growing market.

To discuss this and other landlord and tenant issues, go to the largest landlord and tenant forum in Canada and network with thousands of other like-minded landlords and investors! Go to the Alberta Landlords Forum.

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