Grande Prairie Rents

[DianneDachyshyn]

Has anyone noticed that rents have dropped in Grande Prairie? What are you getting for 3 bedroom duplexes? We have one available in August, and our PM tells us that rents are dropping. What has your experience been?

 

[mcmaz]

We just recently rented out 2 of our 3 bedroom duplex`s in GP for $1750/month. We didn`t get much response on our ads til the end of the month, but then we got about 15 calls and had a good applicant base to choose from. Hope that helps. The people seem to be coming back to GP now that the work is bouncing back. 10 of the 15 people were from out of GP.

 

[DianneDachyshyn]

Can you please tell me how you did your marketing? We would like to reach the out-of-town renters, too.

 

[MonteDobson]

Hi Dianne,

I have also noticed a significant drop in GP rents. For example, a couple of years ago were getting $2600 for a 4 bedroom house. We have now had to drop this to $1600-2000 to get it rented. Likewise on duplex`s...used to get $1800-2000 for 3 bedroom, now fetching $1200-1500.

Properties are still cashfowing, but not the gravy train it used to be. Property mgt and marketing has a lot to due with the success in GP right now.

 

[DianneDachyshyn]

Thanks, Monte. That`s helpful.