Quote:
Originally Posted by nds88
Recently rented out 4 x 1br in Vancouver close to DT, 1 x 1br in Burnaby and several townhomes in Surrey. There was a bit of difficulty in a Surrey townhome, but this was around the time when we got hit by snow. All the ones in Vancouver were rented for around $1900-$2000 in early April for May 1 move in and were gone really quick. Except a Surrey townhome that took a month to rent out in February, everything else moved really fast. My experience differs.
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Yes - I understand vacancy rates in the rental market for individual properties (which is what I think you're describing) are still really low, and generally rent quickly. The reference I think was to whole buildings coming forward: a few years ago, and until relatively recently they would be pre-leased, with a backup of potential renters if any of the potential tenants didn't move in. That's apparently not the case as much today - I've certainly noticed ads for the recently completed Wall rental buildings still running several months after completion, and offering move-in incentives. It seems to be similar to what's happening in the condo market - a few years ago there would be lineups and everything sold out in a day; now that's not the case, and some projects can't get to critical mass of sales to actually proceed, as has been noted on several threads here. It's not a universal slowdown, but it seems to have cooled from a short while ago.