Archive for the ‘Prince Edward Island Landlords’ Category

Nova Scotia Landlords & Tenants Working Together

Thursday, January 4th, 2018

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We Invite Nova Scotia Tenants To Join Us In An Important Conversation On How To Improve the Rental Industry

Experienced and successful Nova Scotia landlords know one of the keys to success is to find good paying tenants. A good tenant will pay the rent on time and treat both the rental property and the landlord with respect. While many people think all landlords are rich the reality is very different.

Nova Scotia And Bad Tenants

Nova Scotia landlords do not have it easy at all! We aren’t big corporations with economies of scale, expensive lawyers on retainer and millions on the bank. We have a lot of challenges trying to run our rental businesses. Not only do we have to face tenants who abuse the system we also have to worry about new changes such as how legal marijuana will impact our rental properties.

Good Tenants

We also know there are lots of good hard-working and honest renters out there. These are people who do treat their landlord and rental with respect on pay on time and respect the lease.  These are tenants who desire there to be more high quality affordable housing for rent and don’t want those bad tenants to get landlords to leave the business, leaving less rentals on the market.

Good Landlords & Good Tenants, Working Together!

Good Nova Scotia landlords are looking to rent to good tenants and good Saskatchewan tenants want to rent from good landlords. So how about this? Let’s all work together as positive forces of good and improve the Nova Scotia rental industry!

Instead Of Confrontation & Blaming We Want Cooperation And Communication

We are inviting good Nova Scotia tenants to join us in the following ways to help improve our situation:

Share Your Stories and Opinions With Us

Share your experiences renting in Nova Scotia and you can help other tenants, landlords and educate people and play a role in improving the Nova Scotia rental industry.

Become A Tenant Community Leader for the Nova Scotia Tenant Forum 

We are looking for 5 experienced Nova Scotia tenants to help run our Tenant forum and make it as helpful as possible for other Nova Scotia tenants to learn from.  As Tenant Community Leader who will be able to invite other verified tenants to join our forum to help educate the community. The goal is to create a sophisticated place for tenants to chat with each other.

Provide Us With Your Ideas for Policy Changes

Do you think some things need to change in Nova Scotia? We invite you to share your policy ideas with us.

Nova Scotia Landlords and Tenants in our Nova Scotia Rental Community

Let’s work together in 2018 for our mutual success. Let’s improve the rental industry and play a role in forming new policies. We invite tenants to join our community. If you are interested please email us at tenantexperiences@groupmail.com by January 15, 2018. Make sure you let us know about you and your renting experience and how you want to help (please note only those accepted with receive a reply)

Update on January 15, 2018 

Thank you for the overwhelming response of Tenants across Nova Scotia (and the region)! We now have filled the available positions for Nova Scotia (and regional) Tenant Community leaders. Keep watching for our next recruitment drive!.

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Prince Edward Island Landlords Face Climbing Vacancy Rates

Sunday, July 7th, 2013

July 7, 2013

 Prince Edward Island landlord

As Vacancy Rate Climbs Prince Edward Island Landlords Face Challenges

According to a report by CBC News vacancy rates on Prince Edward Island continue to climb, landlords are having a tough time finding tenants to fill empty rentals.

As if landlords in the region don’t already have enough challenges the most recent numbers from the Canada Mortgage and Housing Corporation (CMHC) show the vacancy rate in the province’s urban centres is sitting at about 7.8 per cent, up about three per cent from last year.

The number of vacant rental units in Charlottetown jumped to 8.7 per cent in April, up from five per cent the same month last year. CMHC said new units in Charlottetown are the biggest factor in the increase.

Landlord Daniel Rashed Gave Up

After eight months of trying to rent out his condo, landlord Daniel Rashed finally gave up.

“I kept dropping the price, including everything — parking, heating, cable, whatever I had to do — but I didn’t get the response that I thought I would,” he said.

Rashed, who manages 10 rental units, decided to use the condo as office space for his real estate business instead.

“It does have a big impact. One unit empty that could be $10,000 a year, or $12,000 a year that’s not going back into the mortgage and maintenance and heating,” he said.

Where Are the Tenants?

Rashed said he’s one of many landlords around the city having difficulty finding tenants. And he wants to avoid problem tenants.

Meanwhile, at least one developer said hearing the latest CMHC numbers for Charlottetown makes him happy about his latest deal.

In May, Dico Reijers sold eight apartment buildings — 172 units in all — to real estate giant Killam Properties Inc.

“We hustled pretty hard trying to get these units full and while we never got to those numbers there were a couple months where we might have been pretty close to that,” he said.

“That really affects the bottom line for a small business like us.”

According to the CMHC, more Islanders are renting but not enough to keep pace with new construction.

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Charlottetown apartment boom creates renter’s market Vacancy rates rise as construction continues

Wednesday, November 28th, 2012

 

Charlottetown apartment boom creates renter’s market

Vacancy rates rise as construction continues

The city has seen the addition of 1,000 apartments in the last four years. (CBC)

Vacancy rates in Prince Edward Island’s capital city have doubled in the past two years, according to the Canadian Mortgage and Housing Corporation. A report by the CMHC says the rate in Charlottetown is now hovering at five per cent.

“There should be an ample supply of apartments available at all rent ranges and all ages. We are seeing increased vacancies right across the board,” said Jason Beaton of the CMHC.

The vacancies are – in part – due to new construction. The city has seen 1,000 new apartments built in the last four years.

Norray Properties has 30 buildings in the city with a total 320 units. Management tells CBC News about 10 per cent of their apartments are not rented.

Beaton said CHMC will release a new set of rental numbers in the coming weeks. He expects it will, once again, favour renters.

“We expect vacancy rates will rise from their current level,” he said. “There’s still several hundred apartments under construction.”

Tenants making a move

For tenants, the over-supply is good news. Companies are offering deals such as free rent for the first month as a way to lure in new renters.

“We’ll definitely make more of an effort to see what’s available to me and see if I can’t take advantage of what’s out there,” said Ruby Madigan.

She recently moved to the city from Colorado and hopes to move out of her current apartment soon. Madigan’s neighbourhood is noisy because it’s an area populated by students.

 

http://www.cbc.ca/news/canada/prince-edward-island/story/2012/11/27/pei-vacancy-rates-584.html

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