QUOTE (Goodstuff @ Aug 29 2009, 09:08 PM) There are an unbelievable number of rentals available in Calgary right now. Just have a look on kijiji.ca and you`ll see what I mean. And prices are way, way down. This is horrible for someone with a property they`re trying to rent (like me)...
I am tired of people, REIN members especially, complaining about tougher markets. (Aren`t all markets tough in some way, house prices too high, house prices falling, too many renters, not enough renters, etc etc) This is a business so suck it up and get it done! I just rented a place I bought in Bedington (NW Calgary) that closed August 26th. I had the basement suite rented before I owned the home and I just rented the upstairs last night. Both are top notch tenants that paid slightly over market rent!
Yes, there are more listings. More people who used to rent can now afford to buy a place.....that is just the reality of the situation. But that situation is changing again!
Let`s get creative. There have been many posts to help with these situations. If vacancies are killing your business I am happy to buy your assets and take care of your problem. The bigger your problem the bigger my profits.
REIN has plenty of good material to help you get your places rented. There are many many members that are more than willing to help out. There are great companies that deal with nothing more than filling your home with great tenants. Find a way. If you can`t find a way this may not be the business for you. And if you can`t find a way and you are JVing property....you might have some explaining to do to your investors.....you were the expert right!
Good luck and Happy Investing,
Wade