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Rental Rates

STUDY FINDS ONLINE REPUTATION BOOSTS APARTMENT PERFORMANCE

Posted in Finance, Industry Trends, Newsworthy, Rental Rates

STUDY FINDS ONLINE REPUTATION BOOSTS APARTMENT PERFORMANCE

It has always been assumed that online reputation boosts apartment property performance. A new report from J Turner Research and RealPage puts some teeth to that assumption. On average, properties enjoyed a three-basis-points premium to market returns for each point a community improved its Online Reputation Assessment (ORA) score. Additionally, the study showed that property performance fell with an adverse change in online reputation. By zeroing in on four markets Dallas, Phoenix, Atlanta,...

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WANT TO LOWER RENTS? APARTMENT OWNERS GROUP SAYS ELIMINATE DOUBLE PROPERTY TAX

Posted in Affordable Housing, Industry Trends, Newsworthy, Rental Rates, Vacancy Rates

WANT TO LOWER RENTS? APARTMENT OWNERS GROUP SAYS ELIMINATE DOUBLE PROPERTY TAX

In New Brunswick, non-owner-occupied buildings are charged double the property tax. It’s the only province in Canada with such a tax. NBAOA president Willy Scholten, who is also the chief financial officer of Fredericton-based Colpitts Developments, says property taxes represent 40-45 percent of the operating costs of rental properties in the province and are the single largest expense and directly linked to how much rent is charged. “We’ve got your electricity, your garbage removal, your...

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N.S. PREMIER “DOESN’T SEE AN END TO RENT CONTROL” WHILE HOUSING CRUNCH LASTS

Posted in Affordable Housing, CMHC, Coronavirus, Housing, Industry Trends, Newsworthy, Rent Control, Rental Rates, Vacancy Rates

N.S. PREMIER “DOESN’T SEE AN END TO RENT CONTROL” WHILE HOUSING CRUNCH LASTS

Nova Scotia’s premier says a rent increase cap put in place during the COVID-19 pandemic will stay in place as long as housing is scarce. “I don’t see an end to rent control right now, when we’re looking at low availability of housing in the province right now,” Iain Rankin said at Province House on Thursday. That comes after Rankin said the same thing, during his State of the Province address at the Halifax Chamber of Commerce Wednesday. But the Premier also says...

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LANDLORDS DISLIKE RENT FREEZE EXTENSION, BUT SUPPORT ‘RENOVICTION’ PROTECTIONS

Posted in Affordable Housing, Bylaws / Regulations, Coronavirus, Evictions, Housing, Industry Trends, Legislation, Newsworthy, Rent Control, Rental Rates

LANDLORDS DISLIKE RENT FREEZE EXTENSION, BUT SUPPORT ‘RENOVICTION’ PROTECTIONS

A new tenancy act passed in the legislature this month – extending a residential rent freeze until 2022 and increasing protections against “renovictions” – earned pushback and support, respectively, from several Northern landlords. Under the new legislation, the rent freeze begun in March 2020 will extend until the end of 2021, with increases capped at the rate of inflation from Jan. 1, 2022 on. “Ensuring people have safe, secure and affordable housing is especially important during these...

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TO BUILD AFFORDABLE RENTAL HOUSING LET’S CHANGE THE GAME

Posted in Affordable Housing, Development, Housing, Industry Trends, Newsworthy, Rental Rates

TO BUILD AFFORDABLE RENTAL HOUSING LET’S CHANGE THE GAME

We are often told that building affordable housing is just too expensive: Land prices are too high, construction costs are rising, development fees and labyrinthine bureaucratic processes are stifling projects. There is some truth in each of these, but to really get a major build-out of affordable housing we need to stop relying on the current privatized, for-profit approach to housing in B.C. and Canada. To achieve the public goals of affordable housing, and the related social and economic...

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CITY TO STUDY LEASING OF PRIVATE UNITS – BUT SOME SAY THE TIME TO ACT IS NOW

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy, Rental Rates, Vacancy Rates

CITY TO STUDY LEASING OF PRIVATE UNITS – BUT SOME SAY THE TIME TO ACT IS NOW

Ottawa council has given city staff the go-ahead to study a novel approach to increasing the number of desperately needed affordable housing units in the capital by leasing directly from private-market landlords. Staff are scheduled to review and make recommendations on the feasibility of what’s called a “head-lease” program by the second quarter of 2022 — a timeline some believe will cause the city to miss out on a fleeting period of friendlier rental-market conditions. Head leasing,...

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NEW BRUNSWICK CALLS FOR PUBLIC FEEDBACK ON RENTAL MARKET AMID AFFORDABLE HOUSING CONCERNS

Posted in Affordable Housing, CMHC, Housing, Industry Trends, Newsworthy, Rent Control, Rental Rates, Vacancy Rates

NEW BRUNSWICK CALLS FOR PUBLIC FEEDBACK ON RENTAL MARKET AMID AFFORDABLE HOUSING CONCERNS

Proponents on all sides of affordable housing in New Brunswick are looking for solutions. Premier Blaine Higgs has previously denied there is a “crisis” in the rental market. But low vacancy rates, rising rents, and concerns about evictions have been top of mind for many advocates, especially during the COVID-19 pandemic. The province is now asking for public feedback on the rental situation from renters, landlords, developers and other stakeholders, who can share their stories in an online...

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BC GOVERNMENT TO EXTEND HOUSING RENT FREEZE THROUGH END OF 2021

Posted in Bylaws / Regulations, Coronavirus, Industry Trends, Newsworthy, Rent Control, Rental Rates

BC GOVERNMENT TO EXTEND HOUSING RENT FREEZE THROUGH END OF 2021

The provincial government has announced plans to extend the current freeze on housing rents to December 31, 2021. This is the second time any increase in rents has been suspended during the COVID-19 pandemic, with the current freeze announced last November running up until July 10, 2021. The rent increase limit for 2021 was previously set at 1.4%. Tenants who have received notice of a rent increase can disregard those notices. Additionally, there will be changes to cap future rent increases to...

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HERE’S WHAT TO EXPECT FROM VANCOUVER’S RENTAL MARKET THIS YEAR

Posted in CMHC, Coronavirus, Development, Industry Trends, Newsworthy, Rental Rates, Vacancy Rates

HERE’S WHAT TO EXPECT FROM VANCOUVER’S RENTAL MARKET THIS YEAR

Vancouver’s rental market in the first half of 2021 will not be significantly different from what landlords and tenants experienced during most of last year, according to a new report. “We don’t see many changes to the average monthly rental rates in the first half of 2021,” said Brock Lawson, Manager, Rental Data for British Columbia, Urban Analytics. “We’re still facing the same challenges in today’s landscape as we were in 2020.” Lawson said those challenges include a continuing state of...

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PARTNERSHIP SEEKS TO PROVIDE SOLUTIONS FOR TORONTO’S AFFORDABLE HOUSING CRISIS

Posted in Affordable Housing, CMHC, Development, Housing, Industry Trends, Newsworthy, Rental Rates

PARTNERSHIP SEEKS TO PROVIDE SOLUTIONS FOR TORONTO’S AFFORDABLE HOUSING CRISIS

A new partnership between the public, private and non-profit sectors will create much needed affordable rental housing for single mothers in Toronto and provide a model that can be replicated to help others facing similar challenges. Sun Life, Daniels, WoodGreen and the City of Toronto made the announcement Feb. 12. “None of us have any doubt that we have been facing an affordable housing crisis for a very long time in Toronto, but also across the country. There is also no doubt that the...

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