July 2nd, 2013
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.
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