Things have started moving a little more quickly in the Edmonton rental market this spring. Incentives have almost totally disappeared, and many Property Mangers and investors have said they’re starting to test the waters, moving rents up by $50-200/unit. Vacancy is down more, slightly below 4% according to Colliers, and things are (usually) renting quickly. I’m still seeing positive cash-flow in detached single family houses without a suite, with nice units renting very quickly. In one case the bank did a rent appraisal which came in $150/month higher than our assumption before purchase!
Here’s the July 2011 update to my Edmonton Rental Market Survey. We had another 36 units updated, bringing the total to over 750. I’d still like more input from investors, managers and brokers, so please subscribe and I’ll email you next time I’m pulling the data.
You can download the PDF version of the Rental Market Survey here and you can signup for updates here. Happy Renting!