MAY 2020 RENT REPORT
Although average rents in Canada were unchanged in April over March, rental prices for apartments and condo apartments listed on Rentals.ca were down 3.2% and 4.6% respectively month over month. Also, average monthly rents for all property types were down in April over March in some major cities including Toronto, Vancouver, Calgary and Ottawa. National Overview With most of the country on lockdown, the majority of tenants are staying put for both financial and health reasons. Many large...
read moreCOVID-19 AFFECTING RENTAL MARKET AS RENTS DECLINE IN MOST MAJOR CANADIAN CITIES
Average monthly rents were down in April over March in Toronto, Vancouver, Calgary and Ottawa, according to the monthly National Rent Report from Rentals.ca and Bullpen Research & Consulting. Also, rental apartments and condo apartments listed on Rentals.ca were down 3.2 per cent and 4.6 per cent respectively month over month, even though average rents in Canada were unchanged in April over March at $1,842. But the coronavirus pandemic is starting to have an effect on the rental market....
read moreCONSTRUCTION TO BEGIN THIS SUMMER ON $30-MILLION, EIGHT-STOREY APARTMENT BUILDING ON CHARLOTTETOWN WATERFRONT
Construction on a new $30-million, eight-storey apartment building on the Charlottetown waterfront is expected to begin this summer. The city and Pan American Properties signed a development agreement over the winter for a 99-unit complex that will be located on a vacant lot behind Renaissance Place (the former Sacred Heart Home) on Haviland Street, between the Queen Charlotte Armouries and the culinary institute. Coun. Greg Rivard, chairman of the planning and heritage committee, said the...
read moreHOW WILL PANDEMIC RESHAPE THE RENTAL MARKET?
How long has it been since we began hearing these words every day: COVID-19, coronavirus, pandemic? How long before we try to forget them? Who knows — could be awhile. Politicians, epidemiologists and public health experts are scrambling to keep up with the runaway virus trying desperately to flatten the curve. At the same time, government officials are offering billions of dollars to reboot the economy and holding routine press conferences to reassure us that all will be well again...
read moreGRASSROOTS INITIATIVE HELPS FIND LOW-COST RENTALS FOR FRONTLINE WORKERS DURING PANDEMIC
For health-care workers on the frontlines battling the COVID-19 pandemic, one of the biggest challenges is self-isolation, staying far enough away from their loved ones so that if they do contract the virus, they don’t carry it home with them. That concern has prompted a grassroots movement across Canada where property owners are offering up short-term accommodations at reduced prices to nurses, doctors and long-term care staff. Health Worker Housing was first launched in British Columbia,...
read moreWHAT WILL THE NEXT FEW MONTHS LOOK LIKE FOR THE RENTAL MARKET IN CANADA?
The average rent for all properties in Canada increased 1 per cent in March over February to $1,842, but decreased by 1.2 per cent annually, according to the monthly National Rent Report from Rentals.ca and Bullpen Research & Consulting. Uncertainty rules the rental market as the coronavirus pandemic plays out, but one good bet is that average monthly rental rates will decline in the next few months. By how much could depend on some variables including: how many will be laid off, lose...
read moreCONSIDER MAKING VACANT UNITS AVAILABLE FOR “EMERGENCY SHELTER”?
COVID-19 is likely to have a devastating impact for student housing operators and, quite possibly, for multi-res landlords generally, given the financial challenges resulting from tenants vacating tenancies to seek lower cost housing options. One area of housing for which there is now substantial demand is “Emergency Shelter”. Emergency shelter includes short term housing for victims of domestic abuse. Such housing may also be needed for “front line”, high risk medical...
read moreRENTS COULD DROP 5 PER CENT — AND VACANCY RATES MIGHT CLIMB — IN TORONTO THIS YEAR
Toronto could be a more comfortable place for tenants by the end of the year, even if the COVID-19 precautions slow down work at some construction sites, says the president of Urbanation, a market research firm which tracks development. Shaun Hildebrand said condo rents could decline by as much as five per cent this year, retreating to 2018 levels. That’s about $100 less than the current average of about $2,400 a month. Vacancy rates on the condo side of the market could also climb to three to...
read moreRHB TV SEASON 2 EPISODE 1
Watch Episode 1 in full next week. Watch Preview By Clicking HERE
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