Category: Blog (2)

Cutthroat competition for Ottawa Apartments for Rent

The competition for Ottawa rentals in the nation’s capital is heating up. Prospective tenants who were battling it out for rental units and could afford more money were trying to pay amounts that exceeded those that were on the listings, interestingly enough. We never had that situation of cutthroat competition for rental units in Ottawa before.
These people were going above and beyond to stand out. This competition started not long after an assessment from the federal government indicated that landlords in the city were boosting rents as reactions to a rental market that was beginning to dry up. Management Residential Properties Ottawa

People at this time had immense difficulties tracking down Ottawa apartments for rent. It was often more difficult than actually buying properties. Individuals who were trying to rent had no option but to resort to rather “do-or-die” tactics.

At Strongback, an Ottawa property management company, we were getting over fifty calls a day for Ottawa rentals and viewing after listing a rental on places like Kijiji and our website. These days it’s easier to find a commercial rental building for sale than it is to find an apartment rental. The fact of the matter is that Ottawa’s rental market is red-hot, with more demand than vacancies.

A Closer Look at Ottawa Difficult Home Rental Market

We spoke with a real estate agent that is a big player in the real estate sector in the city. He does a lot for a real estate transaction for his agency. His assessment of the rental situation in natation’s capital is the same. Prices are up over twelve percent from year to year.
According to a study published by McGill University, over a thousand homes have been taken off the Ottawa rental market and turned into short term home-sharing rentals. So that fact does not help the Ottawa difficult home rental market.
The agent’s conclusion was that rates for rentals continue to go through a massive spike. The spike started in the span of one single year. It began around the late spring of 2017, and it’s showing no sign of ending anytime soon. Cutthroat competition for rental units in Ottawa is now the norm.

The Canada Mortgage and Housing Corporation come out with a thorough assessment each autumn. The organization’s evaluation noted that vacancy amounts had gotten markedly lower. People who analyzed the assessment in detail found out that typical two-bedroom unit price tags had gotten steeper as well. The group’s team members took many diverse factors into consideration. They even paid attention to rental condominiums and townhouses that consisted of two separate bedrooms in total.

Websites That Feature Listings for Ottawa Property Management

Kijiji Canada is the name of a widely known classifieds website that operates in the Ottawa and Gatineau regions. The site discovered that typical prices for rentals spiked from the summer of 2018 into the summer of the following year. Amounts of wanted advertisements that pertained to rental properties became much more plentiful throughout that specific range, too. This boost was considerable.

Insight From Consummate Professionals

The management that runs the show in the jobs and real estate sector for Kijiji Canada stated that the company views Kijiji patterns as a tool for the assessment of crazes within the nation’s substantial real estate division.

They stated that the current craze in the real estate realm isn’t going to cool down any time in the near future. This real estate guru expresses that the figures that people identify can offer substantial insight.

The insight relates to everything from the overall market to actual limitations. It’s becoming increasingly difficult for individuals all over Ottawa to be able to come across affordable rental properties that are suitable for their lifestyle requirements and aims. Available units are all in the higher price category. Prices for rentals are nowhere as forgiving as they have been in the past. Factors like these all contribute to a real estate scene in the city that’s rather taxing.

Selecting the Perfect Property Management Company is important. Competitions among individuals who are searching for rental properties are becoming more common. Things may remain on this same track for quite an extended period. You should also explore why you should rent instead of buying a home.

Reasons Apartments for Rent in Ottawa Is Preferable to Purchasing

Why You Should Seriously Consider Renting Your Next Home

People often feel anxiety about one big question. It’s one that revolves around renting versus buying. There are so many pros and cons that are typically associated with both options. If you’re currently pondering which route is optimal, you should take the time to study up on both. It can help you greatly to assess all of the reasons that make Ottawa rentals the preferable strategy as well. At Strongback property management we see many people these days are favoring renting over purchasing and with good reason. If you find yourself asking why you should rent instead of buy, these answers may save the day for you.

Monthly Budgeting Consistency

Owning any kind of residence can be pretty daunting. It can sometimes be hard for owners to anticipate expenses that may be on the horizon. If you rent an apartment in Ottawa, you don’t have to budget anything behind your actual monthly rent, plain and simple. That can give your day-to-day existence a lot of consistency. People who don’t want to have to agonize over the possibility of sudden expenses often prefer renting in Ottawa to purchasing. Renting a home doesn’t involve having to cover costly, roofing system repair services. It doesn’t include having to spend an arm and a leg on steep floor replacement prices, either. Landlords are accountable for accommodating these things. Tenants can sit back and take it easy.

Freedom with Ottawa rentals

Homeownership is something that can feel quite restrictive and suffocating at times. People who choose to rent often indicate that they feel a lot freer and more liberated. They don’t feel tied down by their properties. If they want to relocate, they can do so with a lot more ease. Waiting for a lease to end can be a lot simpler than trying to put a property upon the competitive real estate market. Individuals who want to be able to make significant life adjustments often prefer the simplicity of renting.

Reduced Burden

There’s no arguing that homeownership can make people feel proud. Denying the burden of homeownership, however, is rather tough. If you’re the one who owns a property, then taking care of all repair work is 100 percent up to you. Ignoring a complex issue that involves your roofing system isn’t practical or smart. Dismissing a big issue that involves the foundation of your structure isn’t wise, either. An apartment for rent in Ottawa can make a preferred pathway for people who don’t want to have to ponder the burdens that are often par for the course in home ownership. If you rent your property, then you can leave all of the planning and hard work to someone else entirely. That realization can be priceless.

Superior Efficiency

Buying a home you can call your own isn’t exactly a simple or speedy process. It’s something that requires a lot of preparation and commitment. Home purchases aren’t something you can jump into without much thought. If you want to be able to relocate to a new home without having to deal with logistics or planning, then opting for a rental can be the way to go. Renting any kind of property tends to be a pretty straightforward and hassle-free process. Buying, however, is a whole other ballgame. If you want to rent a detached home, an apartment or anything else, you don’t have to do much beyond presenting proof of your income. Filling out forms for apartment rental applications tends to be pretty simple as well. Renting a home can be preferable for individuals who, simply put, want to make their relocation attempts as simple as possible. Purchasing a home can sometimes take months and months. Home purchases can in some situations even require years. People often aren’t willing or able to devote that much time and energy to the moving process, and understandably so.

Simple to Grasp

Renting a home is a concept that’s pretty simple to grasp. It’s nothing like purchasing one in that respect. If you lack the time to learn all about the fundamentals and intricacies of home purchasing, then renting maybe something that’s a better fit for you. Purchasing may be something you consider at a different time. If you’re wondering why you should rent instead of buy, there are many varied answers.
Contact us, we do property management Ottawa.