Jump to content

      













Photo

The residential rental market


  • Please log in to reply
894 replies to this topic

#41 insanelydeadlydisease

insanelydeadlydisease
  • Member
  • 311 posts

Posted 13 February 2015 - 04:14 PM

Just an anecdote here, I had no problems renting out a basement suite in January which is one of the worst months to have a vacancy. Had lots of interest and no problems renting quickly. 



#42 Mixed365

Mixed365
  • Member
  • 922 posts

Posted 13 February 2015 - 06:28 PM

The VV list of rentals to come:

Customs House

Hudson Walk

Sawyer Building

Empress Rental

Domion Rocket Residences

819 Yates St. 

The Rocket Residences at the Dalton
1075 Pandora
Azurro 


“To understand cities, we have to deal outright with combinations or mixtures of uses, not separate uses, as the essential phenomena.”
- Jane Jacobs 


#43 Nparker

Nparker
  • Member
  • 22,870 posts

Posted 13 February 2015 - 06:57 PM

And if the Mason Street NIMBYs don't kill it, add to the above list the St. Andrew's School project.



#44 Mr Cook Street

Mr Cook Street
  • Member
  • 924 posts

Posted 16 February 2015 - 08:57 AM

And the handful of units planned for Cook and Oliphant.



#45 Nparker

Nparker
  • Member
  • 22,870 posts

Posted 16 February 2015 - 09:01 AM

And the handful of units planned for Cook and Oliphant.

You mean in that "massive" proposed development? 


  • sebberry and Mr Cook Street like this

#46 jonny

jonny
  • Member
  • 9,175 posts

Posted 16 February 2015 - 09:16 AM

You mean in that "massive" proposed development? 

 

Yes, the "Burj Cook Street".


  • Nparker, LJ, johnk and 1 other like this

#47 Nparker

Nparker
  • Member
  • 22,870 posts

Posted 16 February 2015 - 09:19 AM

Yes, the "Burj Cook Street".

Love it.  :thumbsup:


  • jonny likes this

#48 Nparker

Nparker
  • Member
  • 22,870 posts

Posted 15 June 2015 - 11:45 AM

It would seem our "flood" of upcoming rental  units can't come soon enough:

http://www.cfax1070....ble-in-Victoria


  • sebberry likes this

#49 spanky123

spanky123
  • Member
  • 11,316 posts

Posted 15 June 2015 - 03:25 PM

It would seem our "flood" of upcoming rental  units can't come soon enough:

http://www.cfax1070....ble-in-Victoria

 

They must be referring to purpose built rental apartments and not count the hundreds of listing for condos and secondary suites which are currently on the market.



#50 Mike K.

Mike K.
  • Administrator
  • 48,273 posts

Posted 16 June 2015 - 05:38 AM

Yeah, it's actually getting a little tough for some rental apartments. Units are sitting empty for many months. At least it provides opportunities for upgrades.

Speaking of upgrades the Lord Harley building at Quadra and Tolmie is undergoing a major exterior restoration.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#51 spanky123

spanky123
  • Member
  • 11,316 posts

Posted 16 June 2015 - 06:13 AM

They must be referring to purpose built rental apartments and not count the hundreds of listing for condos and secondary suites which are currently on the market.

 

CMHC report now states "purpose built rental apartments".



#52 pherthyl

pherthyl
  • Member
  • 2,209 posts

Posted 16 June 2015 - 07:12 AM

Yeah, it's actually getting a little tough for some rental apartments. Units are sitting empty for many months. At least it provides opportunities for upgrades.

 

It was tough for rental apartments 2 years ago.  Rental market has been improving since then and is back to pretty good as shown in the CMHC report.  If apartments are still sitting empty for months then that indicates overpriced.


  • jonny likes this

#53 Mike K.

Mike K.
  • Administrator
  • 48,273 posts

Posted 16 June 2015 - 07:25 AM

The figures in the CMHC report are from April (collected throughout the winter) and with UVic having wrapped up for the summer there's a lot of inventory sitting around that's not being absorbed.

 

Older apartment buildings are starting to feel the effect of a slew of modern rental apartments coming onto the market. 1,600 rental units are planned throughout the region with 420 under construction.


Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#54 Nparker

Nparker
  • Member
  • 22,870 posts

Posted 16 June 2015 - 07:36 AM

...Older apartment buildings are starting to feel the effect of a slew of modern rental apartments coming onto the market....

This.



#55 Greg

Greg
  • Member
  • 1,605 posts

Posted 16 June 2015 - 08:25 AM

 

Older apartment buildings are starting to feel the effect of a slew of modern rental apartments coming onto the market. 1,600 rental units are planned throughout the region with 420 under construction.

 

And that is how you actually go about creating more affordable housing units...


  • jklymak and jonny like this

#56 Mike K.

Mike K.
  • Administrator
  • 48,273 posts

Posted 16 June 2015 - 08:29 AM

Exactly. And done so without having to go hat in hand to the tax payer.
  • jonny likes this

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#57 pherthyl

pherthyl
  • Member
  • 2,209 posts

Posted 16 June 2015 - 09:29 AM

The figures in the CMHC report are from April (collected throughout the winter) and with UVic having wrapped up for the summer there's a lot of inventory sitting around that's not being absorbed.

 

That's normal seasonality and has little effect on dedicated rental units as most UVic demand is soaked up by UVic housing and private suites.

April 2013:  3.4%

Oct 2013: 2.8%

April 2014: 2.7%

Oct 2014: 1.5%

April 2015: 1.2%

 

Maybe the new units will bring this up a bit, but so far strong improvement and no sign of any weakening.



#58 Mike K.

Mike K.
  • Administrator
  • 48,273 posts

Posted 16 July 2015 - 05:57 AM

Map-of-rental-developments-in-downtown-Victoria-July-16-2015.jpg
 
1,000 rental units eyed for downtown Victoria
http://victoria.citi...ntown-victoria/
 
Rental home development activity in downtown Victoria is at levels not seen in decades with nearly 1,000 units currently under construction or in-planning, according to Citified's data.
 
As low interest rates give lenders incentives to seek out long-term stable income generating opportunities, would-be condo developers are altering course to fill both a void for quality rentals and tap into investment capital bullish on Victoria. [Full article]


  • Mr Cook Street likes this

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#59 Mike K.

Mike K.
  • Administrator
  • 48,273 posts

Posted 01 September 2015 - 10:47 AM

Lots of activity taking place right now. We can expect another similar volume of construction starts next in 2016.

 

1200-apartments-under-construction-in-downtown-Victoria.jpg

 

Over 1,200 condos and apartments rising in downtown Victoria and periphery

http://victoria.citi...-and-periphery/

 

The City of Victoria is experiencing an explosion of residential construction in the form of market condos, market and affordable rental apartments.

 

1,205 high density homes, not including townhomes, are in various stages of construction among 18 projects throughout the City of Victoria, just one of 12 municipality's on the south Island. The frenzy of construction activity can be hard to keep straight so Citified has compiled a list of projects together with a profile link that contains even more information on each development. [Full article + list of projects]

 

 


  • Mr Cook Street likes this

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#60 Bingo

Bingo
  • Member
  • 16,666 posts

Posted 25 August 2017 - 04:48 PM

The B.C. Residential Tenancy Branch has set the maximum allowable rent increase for 2018 at four per cent — making it the largest potential rent increase in five years

In 2017, rent increases were capped at 3.7 per cent. While a four per cent increase in comparison might not seem very large, it's more pronounced given the low vacancy rates and sky-high rental prices in Vancouver. 

According to data tracked by Canada Mortgage and Housing Corporation, rents in Metro Vancouver had a sharp increase of 6.4 per cent in 2016 .... even though the rental cap that year was 2.9 per cent.

CMHC explained the discrepancy, saying the data suggests tenants were signing new leases with landlords. 

Normally, rent increases are capped at two per cent plus inflation, but this only applies to month-to-month tenancies. It's not uncommon for landlords to use a loophole that instead asks tenants whose term is up to sign a brand new fixed-term agreement, where it would be theoretically possible for them to circumvent the rent increase cap. 

http://www.cbc.ca/ne...4262651?cmp=rss

 



You're not quite at the end of this discussion topic!

Use the page links at the lower-left to go to the next page to read additional posts.
 



0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users