Calgary Rent Increase

[rbrost]

Thanks in advance for your feedback.



I’m looking to increase the monthly rent on a single family home I have in the S.E. (McKenzie/Stonegate) area. 3 bedrooms, en-suite off the master, 1.5 baths, 1200 sq feet developed basement.

Your thoughts on average rental increase for 2008 in Calgary.

Regards

 

[GarthChapman]

We are not seeing increases in Calgary this year, at least from rents that were set last year when the vacancy rate was at its lowest point. Some rents are even down a little.

 

[Thomas Beyer]

QUOTE (rbrost @ Jul 15 2008, 03:42 PM) Thanks in advance for your feedback.



I’m looking to increase the monthly rent on a single family home I have in the S.E. (McKenzie/Stonegate) area. 3 bedrooms, en-suite off the master, 1.5 baths, 1200 sq feet developed basement.

Your thoughts on average rental increase for 2008 in Calgary.

Regards
what do you charge ? somewhere between $1350 to $1500 plus utilities ?

if tenant is good, keeps house clean and pays on time .. I`d not raise rents and send them 4 movie passes AND a voucher for a free dinner at some restaurant (say Earls, Joey`s Tomato ..)

 

[kenko]

I don`t see any rent increase in Mckenzie area.....I feel it`s already good when the tenants don`t ask you to reduce the rent.

For Mckenzie, i am getting about $1550 for 3 bedroom, 1200sqft townhouse, and about 1850 for a single family home, 4 bed. However, appreciate your tenants is a must. I always give gifts on holidays.

good luck

 

[rbrost]

QUOTE (GarthChapman @ Jul 15 2008, 09:19 PM) We are not seeing increases in Calgary this year, at least from rents that were set last year when the vacancy rate was at its lowest point. Some rents are even down a little.


Thanks for the feedback,, just as an FYI I`m getting $1700 for the home and $250 for the garage

 

[rbrost]

QUOTE (kenko @ Jul 17 2008, 11:36 PM) I don`t see any rent increase in Mckenzie area.....I feel it`s already good when the tenants don`t ask you to reduce the rent.

For Mckenzie, i am getting about $1550 for 3 bedroom, 1200sqft townhouse, and about 1850 for a single family home, 4 bed. However, appreciate your tenants is a must. I always give gifts on holidays.

good luck


Thanks just as an FYI I`m getting $1700 for the home and $250 for the garage.

 

[rbrost]

QUOTE (thomasbeyer2000 @ Jul 15 2008, 09:45 PM) what do you charge ? somewhere between $1350 to $1500 plus utilities ?

if tenant is good, keeps house clean and pays on time .. I`d not raise rents and send them 4 movie passes AND a voucher for a free dinner at some restaurant (say Earls, Joey`s Tomato ..)


Thanks just an FYI I`m getting $1700 for the home and $250 for the garage.

 

[GarthChapman]

QUOTE (rbrost @ Jul 18 2008, 09:26 AM) Thanks for the feedback,, just as an FYI I`m getting $1700 for the home and $250 for the garage

Good on you! You`re at about the top of the spectrum for that product. Hang on to good tenants and treat them exceptionally well. They are far more rare a species than many think.

 

[mcgregok]

Check out your competition in the Calgary Hearld and see what other are charging for similar properties. you can also check out http://www.rentometer.com/ca /