Metro Vancouver Condo Rental Market to tighten up in 2010
Metro Vancouver Condo Rental Market predictions for 2010
I sell a lot of suites to investors and am always asked what is happening with rental rates etc. As an investor in the Metro Vancouver market you can usually expect to get $2.00 to $2.50 a square foot on average for an unfurnished rental. Smaller suites seem to rent for a bit more with larger suites renting for a bit less per sq ft. If you are thinking of renting your suite furnished you can expect to get even more per sq ft. Not all condos in th downtown core allow short term rentals, so if your intention is to rent short term, make sure to review the bylaws of the building you have an interest in. Here is an article the Vancouver Sun printed, projecting that The rental market is tightening up with downtown, the West End and Mount Pleasant-Renfrew Heights neighbourhoods also have vacancy rates below one per cent.
http://www.vancouversun.com/business/Metro+Vancouver+apartment+vacancy+expected+shrink+2010/2444250/story.html
If you are looking to purchase a suite for investment, or have any questions or comments, please give me a call or email me at 604-341-0101 or kathystilwell@gmail.com