Archive for the ‘Vacancy rates’ Category

Nova Scotia Landlords: Find Good Tenants

Wednesday, January 1st, 2014

 Nova Scotia landlords no tenants

Investors become landlords because we see a business opportunity.

People need nice places to live in and investing in rental property seems like a great industry to be part of.

You’ve read some people who became landlords and although it wasn’t easy they earned enough profits to consider themselves wealthy.

With their new financial freedom they could help out family members, pay for their kids’ university tuition and even take a trip or two.

Challenges for Nova Scotia Landlords

In past blogs we’ve discussed some of the challenges Nova Scotia landlords face.

One of the biggest challenges is what you face if you rent to bad tenants.

It used to be we thought all the worst tenants were in Ontario.

And they still are, as this Ottawa landlord can attest to.

Landlords all over Canada face the ‘bad tenant’ challenge, even Manitoba landlords face this challenge.

Bad Tenants In Nova Scotia

We wrote before about what happened to small landlord Lee Cowan.

She’s the landlord who rented to a group of tenants and after they moved out (without proper legal notice) she found they had trashed the place including:

– Appliances destroyed

– Basement was flooded and now smells horrible and has damaged the enter unit

– Cabinets have been ruined

– Drywall has been destroyed all over

Lack of Tenants

Another problem landlords in our area face is something that isn’t common in other areas of Canada, even places like Manitoba.

It’s a lack of good tenants.

As a recent CBC News report illustrated landlords can find enough renters to fill their properties.

Some landlords are even offering move theaters and gyms where tenants can work out in their rental buildings.

And get ready for this…some landlords are offering tenants free TVs, yoga, rebates from local dentists and even Apple Ipads if you rent from them.

Landlords in Nova Scotia, PEI and Elsewhere in the Region

Have you found good tenants for your rental properties?

What do you think will happen in 2015?

Discuss this in the Nova Scotia Landlords Forum

Calgary, Edmonton Vacancies Rates Decline!

Friday, June 29th, 2012

June 29th , 2012


The Canada Mortgage and Housing Corporation’s 2012 Spring Market Rental Market Survey was released.

What is the News for Alberta Landlords?

It’s good news for Alberta landlords.  For the urban centers the vacancy rate was 4.7% in April 2011.  This decreased to a vacancy rate of 3% in April 2012.

That’s Great News!

According to the CMHC’s senior Calgary market analyst, Richard Cho, fifteen of the largest seventeen markets in Alberta saw a decrease in vacancy rates.

According to Cho, “The reduction in vacancies was largely attributed to robust job growth and rising migration.”  Cho explained “the resulting household formation contributed to rental demand.”

What About Calgary?

Cho stated the apartment vacancy rate in April 2012 declined compared to last year.  In April 2011 it was 3.4%.  In April 2012 is declined to 2.5%

And Edmonton?

According to the CHMC’s senior market analyst for Edmonton the news is even better.  In 2011 the vacancy rate was 4.7% and dropped to 2.7% in 2012!    Christina Butchart said the 2012 Edmonton vacancy rate is the lowest since Spring, 2007.

Exactly Why are Rents Going Up?

The decrease is largely due to a strong economy, more jobs, and increased migration flows.  Cho stated it’s all about supply and demand.  He added that as vacancy rated drop and there is stronger demand for rental properties, rental rates are also going up.

Can You Provide Me With and Example on How Rents Are Rising?

According to Cho, rents increase 5% from 2011 to 2012 for a two bedroom rental in Calgary.  In Edmonton, rents are up 2.2% compared to last year.

It looks like the future is bright for Alberta landlords!