Calgarians struggle to find a rental home amid booming market
Calgarians struggle to find a rental home amid booming market
Calgarians Laura Kelly and David Litwiller are looking for a single-family detached home to rent, but have had no luck after six weeks of searching.
"We don’t need one until July 1," said Kelly. "But we are running into some crazy, crazy road blocks."
Litwiller says the couple's main issue is the sky-rocketing cost of rental properties in the city.
“Roughly about a month ago, rent was around $2,000 to $2,300 a month for the kind of rental we are looking for, and today it’s almost $3,000 for the same property,” he said.
At that price, Kelly and Litwiller say it’s going to be difficult to buy necessities like groceries, the price of which has also spiked.
In addition to the high cost, Litwiller says the market is so competitive that it’s difficult to even get a showing. He says for some of the properties they are interested in, there are 100 other applicants.
"I went to an open house yesterday afternoon and there was a line up out the door and down the street of people walking through the house," said Litwiller.
David Litwiller and Laura Kelly continue their search for a rental home.
According to statistics from property management company Hope Street, the average rental rate for all properties in Calgary has increased by 25 per cent since Jan 1.
"Unfortunately, we don’t see signs of a slowing down or cooling-off period, so its conceivable that rates could actually increase further, especially between now and September,” said Shamon Kureshi, CEO of Hope Street.
The increasing price is driven by several factors, including high demand and low vacancy rate for properties. For single, detached homes, Kureshi says the vacancy rate is about 0.6 per cent.
"The inventory of available rentals is going down drastically because landlords can sell their houses very quickly and often for considerably more than their listed prices."
Furthermore, Gerry Baxter, executive director with the Calgary Residential Rental Association, says anyone buying property and turning it into a rental right now is buying at a high interest rate.
"The Bank of Canada has been increasing interest rates to try and curb the economy, so what we're seeing now is if you’re buying at a higher interest rate, it means that your rent is going to have to go up," he said.
"But if a landlord needs to increase rent, they should always be looking to make sure it’s reasonable."A hot rental market can create a breeding ground for rental scams. Kelly says they haven’t experienced that, but are frustrated with certain demands from landlords.
"We can’t even get in to see a place, but they want us to fill out applications forms and give out personal information like social insurance numbers, drivers license numbers and even pay stubs before we view the place if we even get a viewing."
Kureshi says it’s not out of the ordinary for landlords to ask for personal information so they can do a background and credit score check, but that there should be a conversation between a landlord and renter to determine what is reasonable.
Kelly and Litwiller say they aren’t blaming landlords for their struggle, but are getting more worried as they inch closer to July 1, when their lease is up.
"We have good jobs, good income, but it’s so competitive… we don’t know what to do," said Kelly.
Hurricane Ian made landfall in southwest Florida near Cayo Costa on Wednesday as a catastrophic Category 4 storm. About 2.5 million people were ordered to evacuate southwest Florida before the storm hit the coast with maximum sustained winds of 150 mph (241 km/h).
Coolio, the rapper who was among hip-hop's biggest names of the 1990s with hits including 'Gangsta's Paradise' and 'Fantastic Voyage,' died Wednesday at age 59, his manager said.
With Category 4 Hurricane Ian barrelling toward Florida on Wednesday morning, some of the state's popular theme parks. national parks, gardens, and cruise schedules have been closed or impacted.
In the aftermath of post-tropical storm Fiona, the premier of Nova Scotia is calling on telecommunications companies to 'step up', saying that many residents are still without cell phone service or access to 911 days after the storm pummelled the province.
NDP Leader Jagmeet Singh says Conservative Leader Pierre Poilievre should not be opposing a dental benefit for children in low-income homes when MPs receive far broader coverage for their families.
Jeremy MacKenzie, the founder of the online group 'Diagolon,' was arrested in Nova Scotia on Wednesday on charges related to an allegation of assault in Saskatchewan from last year.
New York Yankees outfielder Aaron Judge tied the MLB American League record for most home runs in a single season Wednesday night during a game against the Toronto Blue Jays at Rogers Centre.
The owner of the Vancouver Canucks has responded to bombshell allegations that he abused his children, which were heard during a family court proceeding this week.
On Sept. 12, two Vancouver park rangers on a routine patrol came across a tent by the pond at Andy Livingstone Park. They conducted a check, and found the tent empty, with drug paraphernalia inside. Both the tent and its contents were then removed and discarded.
When Cindy Brodowski bought her North Vancouver home earlier this year, it came with an eye-catching feature: a hedge trimmed into the shape of a face. As she found out, it had been there for years.
Five days after Fiona knocked power out for more than 500,000 customers in Nova Scotia, over 100,000 are still without power. Many more remain without internet and cell phone service.
Prince Edward Island Premier Dennis King says, although there is still a lot of work to be done before things get back to normal on the island, there has been quite a bit of progress after post-tropical storm Fiona wreaked havoc across the province Saturday.
With more than 1,400 people in the field and hundreds more behind the scenes, Nova Scotia Power is continuing its restoration efforts across the province.
A beloved Victoria toy store is looking for a new home after operating out of its downtown location for more than 13 years. Cherry Bomb Toys is moving from its location along Broad Street near Johnson Street since the building was purchased by a new owner.
Flight safety personnel from the Royal Canadian Air Force are investigating after an incident occurred involving a CP-140 Aurora aircraft out of Comox, B.C., on Wednesday afternoon. According to Captain Brad Little at 19 Wing Comox, the flight crew of the Aurora noticed they had a possible malfunction in one of their four engines shortly before 1:30 p.m.
New York Yankees outfielder Aaron Judge tied the MLB American League record for most home runs in a single season Wednesday night during a game against the Toronto Blue Jays at Rogers Centre.
Outgoing CAQ Immigration Minister Jean Boulet claims the vast majority of immigrants move to Montreal, don't speak French and don't work. Party leader François Legault adds that accepting more than 50,000 immigrants would be 'suicide.'
Polls heading into the final week of the Quebec election campaign show much of the same results since the first week: a race for second behind the CAQ.
Hurricane Ian made landfall in southwest Florida near Cayo Costa on Wednesday as a catastrophic Category 4 storm. About 2.5 million people were ordered to evacuate southwest Florida before the storm hit the coast with maximum sustained winds of 150 mph (241 km/h).
Ottawa police are vowing to take a zero tolerance approach for public disorder during Panda Game festivities this year, after last year's post-game celebrations saw thousands of people attend a street party in Sandy Hill and damage to property.
A new mural has been unveiled at Kitchener’s Victoria Park Pavilion, with the artwork created by a youth Indigenous program in collaboration with Family and Children’s Services of Waterloo Region.
A Saskatoon man fleeing police in a U-Haul van resorted to desperate measures after they spiked his tires -- he hopped on a nearby bike and tried to ride away.
All Saskatchewan residents 18 years and older who are able to get a COVID-19 booster will be eligible for the Moderna bivalent vaccine as of Thursday, according to a news release from the province.
Sudbury police are investigating a shooting at a home on Grandview Boulevard in the New Sudbury area Wednesday morning and say they believe it is a targeted incident.
The Sudbury Catholic District School Board held a recent gathering to welcome international students from who are here to complete a year of high school.
A mother from Mathias Colomb Cree Nation in Northern Manitoba is sharing her and her family’s experience at the isolated community’s nursing station, claiming their concerns about their daughter’s breathing were not listened to until the situation became critical.
On Monday, the federal government announced it would be dropping COVID border restrictions for anyone entering Canada and masking on planes and trains will also come to end.
With the National Day for Truth and Reconciliation on Friday, some local businesses are making sure the public has every opportunity to support charities and organizations in the city.
All Saskatchewan residents 18 years and older who are able to get a COVID-19 booster will be eligible for the Moderna bivalent vaccine as of Thursday, according to a news release from the province.
David Litwiller and Laura Kelly continue their search for a rental home.
