Apartment bldgs - BC vs. Alberta

[clstevens]

I am hoping someone might be able to help me with this. I have been dragging my heels on this, probably because it feels like a big step to go from owning single family to multi, so I am starting with this basic question. I live in Vancouver and I know that Maple Ridge and Surrey were top in BC for places to invest but does anyone know if Alberta would perhaps be a better place to purchase, say maybe Edmonton or Calgary? I thought close to home might be better but if I have a management company run it, then it probably doesn`t make too much of a difference. Or does it. Does anyone have first hand experience with this? In terms of ROI, is there a significant advantage to purchasing in one place vs. another? Any help or advice you might offer would be greatly appreciated. Thank you. Cari-Lee

 

[brentdavies]

Rent control has not been in Alberta since the 1970`s. Landlords can charge the market rent, with no limit on increases. Little government interference. The Alberta Advantage.

BC has a cap on rent increases, currently at 3.8 % or close to it. ( I don`t invest in BC)

Ontario also has rent controls.

 

[Thomas Beyer]

it depends on price, location, CAP rate, VTB, available financing, 5 year goal, cash-flow vs. equity goals, ...

We own buildings in ON, SK, AB and BC .. and they all work and they all have their pro`s and con`s ..

What is better when buying a used car: a Ford @ $5000 or a VW for $12,000 or a Mercedes for $31,000 ?

 

[navaz]

Thomas is right-look at the economic fundamentals and one more thing -no property purchase tax in Alberta

 

[Dan_Eisenhauer]

AND, the AB Tenant-Landlord legislation is more balanced than in BC, IMHO.

Having said that, I am again considering investing in BC again... even the Lower Mainland. But, my emphasis will be on RTOs and commercial more so that long term residential holds.

 

[Thomas Beyer]

one of the KEY advantages in AB and SK is that you can adjust rents to market very quickly, as opposed to rent controlled BC, MB or ON !