What's New In Rentals...March 1st 2009
March, the month to move!
After a fairly sleepy rental market in November to January we can expect some more rental demand through March and April. Usually this is a good time to rent higher end properties to Calgarians looking to secure their Kelowna pied-a-terre for the Summer. Anything in the Mission area will do well, lakeshore especially, along with the downtown buildings starting to see more activity (Martin Lofts/Ellis Court/Discovery Bay/etc). Landlords will take a sigh of relief, since the market in these buildings has been written down over 25% in the last few months due to over supply and job losses in the construction industry which has caused some of the young construction/tradespeople to be unable to afford their affluent downtown residences.
If you have a higher end property you may want to call us to have an opinion of rental value and place your property in ads before the rush for these properties wanes in May/June.
I know the market...so you don't have to.
Meghan Pacheco, OREC Associate