NE Edmonton rents

[craigw]

I was wondering if anyone knows what the going rental rates are in NE Edmonton. I have a house at 56 st and 118 ave with two bedrooms upstairs and a two bedroom basement suite as well as a double detached garage. My property manager has been having trouble filling the units and keeps telling me I have to drop the rents. However my realtor as well as another property manager I spoke to said I should be able to get $2000 a month for everything. My manager is trying to drop me down to $1500. This seems low to me. If anyone has any advice I would appreciate it. Thanks

Craig Williams

 

[GrahamWhite]

Most of our units are in Calgary, but we`ve got a few in Edmonton.

Check out comparables at
www.rentedmonton.com
www.places4rent.com

$1000 up
$700 down
$150 Garage

Should be easily in the ballpark.

Problem with property management companies in renting things out is the higher the rent, the harder it is to rent it out and the more work they have to do for the same money. They really don`t like the extra work that comes with multiple units in a property like you`ve mentioned.

A while back I put up my own ads and phone number without telling one of the management companies I was using (Hope Street in Calgary). They said they were getting no calls all month (nice that I had no rent for a month because of them). I got 30 calls and had over a dozen showings in 5 days and the place rented out be the end of the week.

Lesson I learned is that right now you have to really manage your managers - maybe fire them and take the penalty on the contract (as I had to do with Hope Street who I have zero positive feedback on).

 

[craigw]

Thanks for the info Graham. I found another manager through REIN who seems alot better and I think I may take your advice and make the switch.

Craig Williams

 

[RebeccaBryan]

I`m getting $1575 for the upstairs of a house. (3 bedroom) and 975 for it`s basement suite. (2 bedroom) The upstairs tenants have the double garage which is included in that price. The property is at 136 Ave and 68 Street.

 

[chrismccallum]

Hi,

I have a place just in Ft Sask, and am getting 1350 up, and 950 down, with 150 for the garage.

- Chris

 

[leighd]

QUOTE (craigw @ Feb 19 2008, 08:08 PM) I was wondering if anyone knows what the going rental rates are in NE Edmonton. I have a house at 56 st and 118 ave with two bedrooms upstairs and a two bedroom basement suite as well as a double detached garage. My property manager has been having trouble filling the units and keeps telling me I have to drop the rents. However my realtor as well as another property manager I spoke to said I should be able to get $2000 a month for everything. My manager is trying to drop me down to $1500. This seems low to me. If anyone has any advice I would appreciate it. Thanks

Craig Williams

Different areas of Edmonton will get radically different rents. 118 Ave and 56 isn`t the greatest neighbourhood. This house is probably 40-50 years old while the house on 136 Ave is probably 20-25 years old or less. The rent depends on the neighbourhood alot.