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Old Posted Apr 24, 2021, 10:48 AM
woreg75 woreg75 is offline
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Join Date: Oct 2006
Location: Hamilton
Posts: 94
Good morning everyone,
Just wanted to share a trend that I'm noticing over the last year with rentals downtown, especially our neighbourhood around Queen and Hess.

My husband and I manage a building downtown Hamilton that for many years where filled with seniors who had lived in the building for 30+ years.

In the last year alone, 10 units which contained single occupancy of someone over the age of 90 have been replaced with 9 couples and one single professional all between the ages of 24 - 32.
Up until a few years ago, mostly baby boomers would only apply.

Major turn-around in this building never seen before. People would not move unless sadly to a LTC home or darkly permanent.
In the next year, we can foresee another few units opening up as this pandemic has really exhausted many seniors who live on their own. Some have even said they are thinking of moving in with family.

In the area, there are other buildings managed by Effort Trust and other independent companies.
Their buildings too have had many new younger couples join our neighbourhood. We have all noticed a change and talk about it over yard work from one side of the street to the other.. Many home conversions on the street contain younger renters now, and the young dog walkers are plenty.
(Don't get me started on dog poop)
However it is nice to see that there is a vibrancy waiting to start again once things get to a new normal.

Rents have become crazy, and sadly we are told what to list the vacant unit at, literally moving up month after month, until the pandemic hit.
Worse that we have to be the face of this greed.
Because really.. That is what it has become.
It's an awful feeling having to say the rent price out loud when the same
apartment 5 years ago was half the price.
We would say to each other that no one is going to rent at these prices in Hamilton..

But they do..

Each building in the area watches each other, and adjusts the price, sometimes I swear they are following us as they adjust their price within a dollar of what we offer.

Interesting to note, that many new residents have moved from out of town. Some returning home, but many are new to the city.
Yesterday our first young international transplants eager to call our place home placed a deposit down, and are waiting nearby for the apartment to be ready.

With the prices, we are seeing more couples moving in together who really take pride in where they are living.
I hope this trend continues with the pride, however I would hope to see the rents stabilize in the future.

I really am curious to know if this is all across the downtown area, and even more curious to see if there has been a bit of a change in the next census..
Something is happening for sure, and I'm hoping it will only be positive in the end.

We shall see..
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