Archive for the ‘Calgary Tenants’ Category

Calgary Vacancy Rate

Thursday, August 1st, 2013

August 1st, 2013

 Calgary landlord tenant flood low vacancy

The Flood and University Students Returning May Lead to Higher Rents

According to report in the Calgary Herald the residential property vacancy rate is so low landlords have stopped aggressively advertising because even a small ad brings in a flood of potential tenants.

The competition between tenants looking for a nice rental unit could become even more competitive soon:

1. Many buildings remain unlivable after the flood

2. University students are returning soon to start classes and they need off-campus housing

One landlord husband and wife team said the number of applicants they are receiving is overwhelming.

Tammy Panchuk and her husband own forty rentals in Calgary.

While other areas across the country such as Barrie, Ontario have landlords desperately seeking qualified tenants things are very different in Calgary.

With no vacancies and so much demand they now only put an ad up on one website instead of many.

Panchuk is also a Calgary real estate agent and said the Calgary landlords and investors she deals with are all full with few vacancies. She says if there is an opening it gets filled fast.

Many universities such as Mount Royal and the University of Calgary and SAIT believe the housing crunch is going to have a serious effect on students looking for off-campus housing.

The Vice-president of the Mount Royal University student union, Tristan Smyth, believes the flood will lead to higher rents and less vacancies.

Mayor Naheed Nenshi also expects a worsening rental market in September, and even predicted this week that the rental vacancy rate could come close to zero because of last month’s big flood.

To Discuss This And Other Landlord and Tenant Issues Go to the Free Alberta Landlord Forum

Calgary Flood Recovery, Tight Rental Market For Tenants, And The Opportunity For More Secondary Suites

Wednesday, July 3rd, 2013

July 2nd, 2013

Alberta Calgary Rental Market

What Do The Floods Mean For Calgary Landlords and Tenants?

Calgarians are doing a great job coming together to clean up properties damaged in the flood.

According to the Calgary Herald there’s concern the flood will shrink our city’s rental housing market which is already very tight in 2013.

The Canada Mortgage and Housing Corp. reported last week that Calgary’s vacancy rate fell to 1.2 per cent in April which is down from 2.5 per cent in April 2012.

The CMHC says monthly rent for an average two-bedroom apartment in Calgary is currently $1,202.

We wrote about this before.

A University of Calgary paper published in 2011 revealed the city lost 7,500 apartment units to condo conversions from 2001 to 2009, while at the same time an average of 12,000 new people were coming to the city each year.

With the city’s residential vacancy rate sitting at just above one per cent, Tim Richter of the Canadian Alliance to End Homelessness said increased competition for rental accommodations could stymie efforts to find permanent housing for our poorer citizens.

Says Richter: “You have a potential reduction of residential (housing) stock in the short term, you have more people with damage to their homes pushed into the rental market in the short term and you have more skilled labour coming to Calgary to help in the reconstruction

Creating More Safe and Legal Secondary Suites

Nenshi has strongly advocated for more high quality and affordable rental units. Unlike politicians in Ontario who want to punish landlords and prevent landlords from having the tools to run successful rental businesses, Nenshi wants easing restrictions on secondary suites as one way of increasing the amount of affordable housing in the city.

So far city council has so far failed to approve any substantial changes.

The mayor has also said reform would also improve safety and legal protection for tens of thousands of Calgarians living in illegal suites.

“One of the things I’ve allowed myself to worry about in the reconstruction phase of this as we’re dealing with the emergency is ‘What is going to happen to those people?’ ” Nenshi said.

“I don’t want to be politically opportunistic about this, but if we continue in a world where we have a whole bunch of illegal secondary suites that we haven’t inspected, what if there’s mould? What if there are other issues? We have to fix that.”

Great Mayor. Great Ideas. Let’s Make It Happen!

To discuss this and other issues go to the Alberta Landlords forum

Calgary Housing Program Offers Cheap Housing In Return for Helping Landlords

Monday, September 17th, 2012
September 16th, 2012

Landlords and Tenants and a Win-Win Situation!

What is the Housing Program About?

A Calgary program focusing on home shares is taking a new approach to low vacancy rates and higher rent prices to help both Calgary landlords and Calgary tenants.

Sounds Good!

The program is attempting to connect Seniors with university students to fill rooms that are still vacant in return for these students offering the Seniors support.

What Type of Support?

Here’s how it works.  The Calgary program helps students in Calgary find inexpensive housing in exchange for helping the homeowner, usually a Senior, do daily house work.

Can You Provide Me with Real Life Examples of the Program?

Recently widowed, landlord Vivian Toews sometimes requires a bit of help doing gardening and household cleaning.

Meanwhile, University of Calgary student Rebecca Enter was looking for an inexpensive place to rent while she studies.

What Happened?

The Calgary Home Share program saw they could be a perfect match!

The program brought them together.

What Does the Landlord Say?

The landlord Vivian Toews praises the heavy jobs her tenant does for her.  Toews also praise Rebecca’s great attitude … even when Toews admits she gets a bit bossy.

And the Tenant?

Tenant Enter says her chores are like what she is used to doing at home, like cutting the lawn.  She always appreciates the fact she is helping out a senior.

This is just another example of how small business landlords are really an important part of our economy.  Of course, the media rarely reacts when a small business landlord helps renters out.

What Is the Lease Agreement?

Toews and Enter signed a lease which states there will be no partying and no guests staying overnight.

It’s an agreement which includes no overnight guests and no partying.

The tenants’ rent is only $300 monthly.

Is This Program Expanding?

Yes.  The program is a success and is now including adult tenants. It’s yet another example of how Calgary landlords are helping tenants.

How Many Senior Landlords Are Now Involved?

There are now over seventy senior landlords who have been matched with tenants.

There are also over fifty seniors on the waiting list for renters!

What Type of Tenant Screening is Done?

Background checks are done on all applicants.

For more information on the program, visit the Calgary Seniors’ Resource Society website.  It’s a terrific resource for Calgary Landlords to meet helpful and qualified tenants.

It’s also great to see the government looking after the needs of both Calgary landlords and Calgary tenants instead of what is happening in Ontario where Ontario landlords are being punished when they try to create affordable housing.

Alberta: a great place to invest and live in!

Calgary Real Estate Board Warns Online Scammers Targeting Tenants

Monday, March 26th, 2012

 March 26th, 2012

 

Renters Beware!

The Calgary Real Estate Board is warning people about a scam that has recently popped up, aimed at would-be renters through online classified sites.

It says property details, photos and the name of the realtor listing a property have been used from other sites where the information is legitimately posted.

What is the Scam?

Bob Jablonski, CREB’s president, describes how the scam works: “The scammer impersonates the realtor by using his or her name to respond to inquiries from prospective renters. The scammer is unavailable to meet the prospective renter in-person at the property and proposes that funds be forwarded to rent the property. The ‘owner’ will, in turn, make arrangements for someone to meet the renter at the property and hand over the keys. As you can imagine, no one shows up at the property to meet the renter.”

Is There Any History Behind This?

The scam has been active in Alberta in the past and may have reappeared due to the diminishing inventories of rental properties, says CREB.

In a statement, Madeline Sarafinchan, the Alberta Real Estate Association’s president, said: “The risk for citizens falling victim to this type of scam becomes greater in markets where there are fewer rental vacancies, such as what we are starting to see in some regions in Alberta. When demand is high and vacancies low, consumers may take greater risks to secure a rental situation – risks that they wouldn’t necessarily otherwise take.”

When using online classifieds websites, consumers are advised to ensure all financial transactions take place locally and in person, adds CREB.

Similar rental scams have been seen in Ontario.  The Ontario Landlord Association has discussed such scams in their Tenant Forums.