Current Calgary Rental Market?

[TDA]

I wonder if anyone has any recent experiences renting out lately. I possibly need to find some new Tenants, I originally rented in the hot hot times of 2006, where once I put up my rental Ad I had people calling me night and day and basically harassing me and pleading/begging/sobstory/etc me to rent to them.

Now it is Summer 2008, and as we know the market is in "controversy", however looking on rentfaster.ca there's really not all that much to rent (at least in my area, McKenize Towne Condos), and rental prices seems to have held. There actually seems to be less active listings for rentals than in 2006!

So Is it hard or is it still easy to rent and can you still cherry pick your Tenants?

[turbotrip]

I can tell you last month I had to rent out 2 houses and I got a couple of calls every day for each house, and had people competing to get the houses in the end, so if you price it right the rental market is still doing great.

[max_boost]

You can still cherry pick your tenants. You will always have more calls if you are priced competitively. I don't care if my places sit for 1-2 months. Take your time and find the right people for your place.

Use www.craigslist.ca and www.kijiji.ca

[stunta666]

^:werd: If you don't carefully pick your tenants you'll pay for it in the end. Renters can be total POS when the lease is done.

[TomcoPDR]

Originally posted by stunta666
^:werd: If you don't carefully pick your tenants you'll pay for it in the end. Renters can be total POS when the lease is done.

:werd: hiding rotten fish/eggs in the walls and re-plastering and repainting same colour, cement poured in toilet, rowdy rodey piper and mice the place...

[Davetronz]

We just rented our condo downtown, its 1 year old and in the beltline.
After 24 hours of having the condo listed for rent, there was over 5 calls, my dad interviewed the applicants and chose a suitable renter within 48 hours.

[assram]

can i ask how much you're asking, and number of bedrooms?
Just wondering what competitive rates are. thanks.


Originally posted by Davetronz
We just rented our condo downtown, its 1 year old and in the beltline.
After 24 hours of having the condo listed for rent, there was over 5 calls, my dad interviewed the applicants and chose a suitable renter within 48 hours.

[Davetronz]

Originally posted by assram
can i ask how much you're asking, and number of bedrooms?
Just wondering what competitive rates are. thanks.


We rented ours for $1600/mo
That includes all utilities other than phone/Internet.
Also includes 1 heated under ground parking spot.
Unit was 2 bedroom, 2 bathroom. Just over 938sq ft including spacious deck. In suite laundry.

[Mys73ri0]

as someone looking to rent right now, I can attest to the fact that the rental market has not decreased or even stayed the same...

A friend of mine is renting in an apartment that I went to look at. She is paying $880/month since last year, they are now asking for $1250!

[SJW]

I'll be renting my house in Cranston out this summer hopefully

3 bedroom, 1150 sq ft, 2 car garage, huge deck, fenced in.

Probably 1600 a month rent.

[88jbody]

I have it good looks like

3 br main level, spare BR and bath in 1/2 fnished basment in a bungalo for 1200/mo, no garage but paved drive way and shed accross from the kids school

no utilities included

I think price at the lower end or average price and get more calls and pick the best tenant so being a couple hundread cheaper doesn't matter becasue you have good tenants that will not destroy the place

[R-Audi]

If anyone is looking for a place on the beltline before it gets listed.. let me know

Info:
6XX-15th Ave SW
-2 bed (1 with walk in closet)
-1 bath
-1 Den
-Ensuite laundry
-Storage locker
-Built in speakers

-2 underground parking stalls (heated/secured)

-Hardwood, Granite, Stainless

[tm.88]

I think that within 6 months you will see rents go down quite a bit. Alot of people trying to sell right now are not happy with the fact they cannot get the 2006-2007 prices for their home. They then end up putting it up for rent to wait for the market to strenghten. By the end of summer i think it will be a bit of a gong show because there will be alot of places for rent and less places for sale...which in turn will strenthen the Real Estate Market.
Now i could be way off on that analysis, not something i would like to be quoted on lol however this is how i am seeing the next few months.

[Xtrema]

Originally posted by tm.88
I think that within 6 months you will see rents go down quite a bit. Alot of people trying to sell right now are not happy with the fact they cannot get the 2006-2007 prices for their home. They then end up putting it up for rent to wait for the market to strenghten. By the end of summer i think it will be a bit of a gong show because there will be alot of places for rent and less places for sale...which in turn will strenthen the Real Estate Market.
Now i could be way off on that analysis, not something i would like to be quoted on lol however this is how i am seeing the next few months.

Rent will be lowered due to what you said and don't expect it to cover all your costs if you bought in the last 2 years.

But I also don't think it will be as bad as 2002/2003 when everyone leaves the rental market and bought their 1st home. Inflation are keeping the rate high and lenders no longer handing out mortgages like candies. People are also worry about negative equity.

This will keep renters renting for a least next 6-12 months. Once inflation and house prices stabilized, then you'll see people getting back into owning and out of renting.

If you can keep the rent in the $1000-1200 range for a single home, you should have no problem finding good renters.

[TDA]

I've posted up my place for rent:

https://www.rentfaster.ca/listingview.php?listingID=8088