Vacancy Rate in Brooks
- Thread starter gpdu
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Brooks is almost a 3 industry town. Beef packing plant, agriculture and oil.
Lakeside packers is up for sale by Tyson foods, and it may have already been sold. Talk about shutting it down.
What is the current employment at lakeside?
Oil and gas well servicing is down, as the price of oil and natural gas is down.
Agriculture is still going, but farmers don`t rent apartments.
How many apartments in Brooks today? 500?
Expect all Alberta Towns to have a higher vacancy in 2009, as many industries are adjusting to the new price of oil, and the resulting downturn in capital spending by the oil companies.
Lakeside packers is up for sale by Tyson foods, and it may have already been sold. Talk about shutting it down.
What is the current employment at lakeside?
Oil and gas well servicing is down, as the price of oil and natural gas is down.
Agriculture is still going, but farmers don`t rent apartments.
How many apartments in Brooks today? 500?
Expect all Alberta Towns to have a higher vacancy in 2009, as many industries are adjusting to the new price of oil, and the resulting downturn in capital spending by the oil companies.
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- 295
QUOTE (brentdavies @ Apr 14 2009, 09:20 AM) Brooks is almost a 3 industry town. Beef packing plant, agriculture and oil.
Lakeside packers is up for sale by Tyson foods, and it may have already been sold. Talk about shutting it down.
What is the current employment at lakeside?
Oil and gas well servicing is down, as the price of oil and natural gas is down.
Agriculture is still going, but farmers don`t rent apartments.
How many apartments in Brooks today? 500?
Expect all Alberta Towns to have a higher vacancy in 2009, as many industries are adjusting to the new price of oil, and the resulting downturn in capital spending by the oil companies.
I have 4 places in Brooks. I am still getting good rent and no vacancies.
There typically has been a low standard of quality for rentals. Places have been in rough shape and landlords asking far too high in rent. These are the places that are now suffering.
I haven`t heard any talk of Lakeside selling. Brooks is also highly dependend on natural gas so things will no doubt slow down. If you have a place of any type of quality, you should be fine.
Lakeside packers is up for sale by Tyson foods, and it may have already been sold. Talk about shutting it down.
What is the current employment at lakeside?
Oil and gas well servicing is down, as the price of oil and natural gas is down.
Agriculture is still going, but farmers don`t rent apartments.
How many apartments in Brooks today? 500?
Expect all Alberta Towns to have a higher vacancy in 2009, as many industries are adjusting to the new price of oil, and the resulting downturn in capital spending by the oil companies.
I have 4 places in Brooks. I am still getting good rent and no vacancies.
There typically has been a low standard of quality for rentals. Places have been in rough shape and landlords asking far too high in rent. These are the places that are now suffering.
I haven`t heard any talk of Lakeside selling. Brooks is also highly dependend on natural gas so things will no doubt slow down. If you have a place of any type of quality, you should be fine.
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Talk to people who live there. I have yet to receive positive feedback from anyone. Brooks has a bad reputation for a reason. To quote Don "Choose a city with a future, not a past". It USED to be a nice place to live.
There are a lot of great towns to invest in; I wouldn`t consider Brooks one of them.
There are a lot of great towns to invest in; I wouldn`t consider Brooks one of them.
QUOTE (MarkTorgerson @ Apr 15 2009, 03:28 PM) I have 4 places in Brooks. I am still getting good rent and no vacancies.
There typically has been a low standard of quality for rentals. Places have been in rough shape and landlords asking far too high in rent. These are the places that are now suffering.
I haven`t heard any talk of Lakeside selling. Brooks is also highly dependend on natural gas so things will no doubt slow down. If you have a place of any type of quality, you should be fine.
Thank you, Mark. Do you use a property manager there? I had a quite bit of vacancy but it seems to improve recently after I changed my property manager.
There typically has been a low standard of quality for rentals. Places have been in rough shape and landlords asking far too high in rent. These are the places that are now suffering.
I haven`t heard any talk of Lakeside selling. Brooks is also highly dependend on natural gas so things will no doubt slow down. If you have a place of any type of quality, you should be fine.
Thank you, Mark. Do you use a property manager there? I had a quite bit of vacancy but it seems to improve recently after I changed my property manager.
QUOTE (selias @ Apr 16 2009, 05:45 PM) Talk to people who live there. I have yet to receive positive feedback from anyone. Brooks has a bad reputation for a reason. To quote Don "Choose a city with a future, not a past". It USED to be a nice place to live.
There are a lot of great towns to invest in; I wouldn`t consider Brooks one of them.
Thanks, Celias. Could you explain what bad reputation Brooks have?
There are a lot of great towns to invest in; I wouldn`t consider Brooks one of them.
Thanks, Celias. Could you explain what bad reputation Brooks have?
QUOTE (brentdavies @ Apr 14 2009, 08:20 AM) Brooks is almost a 3 industry town. Beef packing plant, agriculture and oil.
Lakeside packers is up for sale by Tyson foods, and it may have already been sold. Talk about shutting it down.
What is the current employment at lakeside?
Oil and gas well servicing is down, as the price of oil and natural gas is down.
Agriculture is still going, but farmers don`t rent apartments.
How many apartments in Brooks today? 500?
Expect all Alberta Towns to have a higher vacancy in 2009, as many industries are adjusting to the new price of oil, and the resulting downturn in capital spending by the oil companies.
Thanks, Brent. I do not think Lakeside will be shutting down. It is mainly the process that created a lot of turmoil. Because the government has to approve the sale to a foreign country, and the government is slow, some employees left because of uncertainty. At leas that is what I heard.
Lakeside packers is up for sale by Tyson foods, and it may have already been sold. Talk about shutting it down.
What is the current employment at lakeside?
Oil and gas well servicing is down, as the price of oil and natural gas is down.
Agriculture is still going, but farmers don`t rent apartments.
How many apartments in Brooks today? 500?
Expect all Alberta Towns to have a higher vacancy in 2009, as many industries are adjusting to the new price of oil, and the resulting downturn in capital spending by the oil companies.
Thanks, Brent. I do not think Lakeside will be shutting down. It is mainly the process that created a lot of turmoil. Because the government has to approve the sale to a foreign country, and the government is slow, some employees left because of uncertainty. At leas that is what I heard.
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QUOTE (gpdu @ Apr 17 2009, 02:04 AM) Thank you, Mark. Do you use a property manager there? I had a quite bit of vacancy but it seems to improve recently after I changed my property manager.
Sorry, I haven`t been on here for a while.
One of my biggest issues in Brooks was property management. I have always said that I have fired more property managers than I have evicted tenants.... I went through 3 of them in Brooks. The company I am with has an office in Brooks so I am able to get up there at least a few days a month.
I ended up hiring a guy that is with my company that collects rent and does the handy work. It ended up working out quite well. What I have found in Brooks is the quaility of the property managers and realtors are very poor which makes owning there from a remote place a little more difficult.
As for a bad reputation..... Brooks isn`t a place where I would raise a family but who cares...these are my best cash flowing properties and have doubled in value since I bought them. The vacancy rate has always been extremely low until recently. It is indeed a little rough but so is Fort McMurray. It would not be a top 10 pick but you may also find better deals there. Brooks has been one of my best investments.
Sorry, I haven`t been on here for a while.
One of my biggest issues in Brooks was property management. I have always said that I have fired more property managers than I have evicted tenants.... I went through 3 of them in Brooks. The company I am with has an office in Brooks so I am able to get up there at least a few days a month.
I ended up hiring a guy that is with my company that collects rent and does the handy work. It ended up working out quite well. What I have found in Brooks is the quaility of the property managers and realtors are very poor which makes owning there from a remote place a little more difficult.
As for a bad reputation..... Brooks isn`t a place where I would raise a family but who cares...these are my best cash flowing properties and have doubled in value since I bought them. The vacancy rate has always been extremely low until recently. It is indeed a little rough but so is Fort McMurray. It would not be a top 10 pick but you may also find better deals there. Brooks has been one of my best investments.
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<quote>Could you explain what bad reputation Brooks have?</quote>
The bad reputation brooks has is as an unsafe place to live. I lived there for a summer as part of my job (I work for a company with major oil and gas operations in the area). The first night I stayed there, I went out for supper with my new co-workers, and someone was stabbed in front of a bar across the street. There is a major transient population in brooks from the packing plant and the oil and gas service companies, so its definitely what you would call a "rough" area. But the packing plant means that there will always be demand for rentals from new immigrants and migrant workers, as long as the plant remains open. If you can get a good enough deal I wouldn`t write it off.
Michael
The bad reputation brooks has is as an unsafe place to live. I lived there for a summer as part of my job (I work for a company with major oil and gas operations in the area). The first night I stayed there, I went out for supper with my new co-workers, and someone was stabbed in front of a bar across the street. There is a major transient population in brooks from the packing plant and the oil and gas service companies, so its definitely what you would call a "rough" area. But the packing plant means that there will always be demand for rentals from new immigrants and migrant workers, as long as the plant remains open. If you can get a good enough deal I wouldn`t write it off.
Michael
QUOTE (MarkTorgerson @ Apr 18 2009, 06:08 PM) Sorry, I haven`t been on here for a while.
One of my biggest issues in Brooks was property management. I have always said that I have fired more property managers than I have evicted tenants.... I went through 3 of them in Brooks. The company I am with has an office in Brooks so I am able to get up there at least a few days a month.
I ended up hiring a guy that is with my company that collects rent and does the handy work. It ended up working out quite well. What I have found in Brooks is the quaility of the property managers and realtors are very poor which makes owning there from a remote place a little more difficult.
As for a bad reputation..... Brooks isn`t a place where I would raise a family but who cares...these are my best cash flowing properties and have doubled in value since I bought them. The vacancy rate has always been extremely low until recently. It is indeed a little rough but so is Fort McMurray. It would not be a top 10 pick but you may also find better deals there. Brooks has been one of my best investments.
Thanks. I have had this property for almost two years now. The first PM was fine for the first year, then he took on too many things, and near the end of last year it went really bad. I am glad to hear that you have full ocupancy. I changed PM in Feb and things are improving.
One of my biggest issues in Brooks was property management. I have always said that I have fired more property managers than I have evicted tenants.... I went through 3 of them in Brooks. The company I am with has an office in Brooks so I am able to get up there at least a few days a month.
I ended up hiring a guy that is with my company that collects rent and does the handy work. It ended up working out quite well. What I have found in Brooks is the quaility of the property managers and realtors are very poor which makes owning there from a remote place a little more difficult.
As for a bad reputation..... Brooks isn`t a place where I would raise a family but who cares...these are my best cash flowing properties and have doubled in value since I bought them. The vacancy rate has always been extremely low until recently. It is indeed a little rough but so is Fort McMurray. It would not be a top 10 pick but you may also find better deals there. Brooks has been one of my best investments.
Thanks. I have had this property for almost two years now. The first PM was fine for the first year, then he took on too many things, and near the end of last year it went really bad. I am glad to hear that you have full ocupancy. I changed PM in Feb and things are improving.
QUOTE (bizaro86 @ Apr 21 2009, 08:32 AM) <quote>Could you explain what bad reputation Brooks have?</quote>
The bad reputation brooks has is as an unsafe place to live. I lived there for a summer as part of my job (I work for a company with major oil and gas operations in the area). The first night I stayed there, I went out for supper with my new co-workers, and someone was stabbed in front of a bar across the street. There is a major transient population in brooks from the packing plant and the oil and gas service companies, so its definitely what you would call a "rough" area. But the packing plant means that there will always be demand for rentals from new immigrants and migrant workers, as long as the plant remains open. If you can get a good enough deal I wouldn`t write it off.
Michael
Thank you, Michael.
The bad reputation brooks has is as an unsafe place to live. I lived there for a summer as part of my job (I work for a company with major oil and gas operations in the area). The first night I stayed there, I went out for supper with my new co-workers, and someone was stabbed in front of a bar across the street. There is a major transient population in brooks from the packing plant and the oil and gas service companies, so its definitely what you would call a "rough" area. But the packing plant means that there will always be demand for rentals from new immigrants and migrant workers, as long as the plant remains open. If you can get a good enough deal I wouldn`t write it off.
Michael
Thank you, Michael.