Comments on: Ottawa’s Vacancy Rate Has Almost Doubled Since Last Year

By: Property Management Software | Property Management | Landlord and Tenant | Renting Well

Wed, 08 Nov 2023 07:08:13 +0000

[…] rental market and one of the best cities to be a landlord in – has experienced a significant increase in the vacancy rate. There’s way more selection. There’s also been a noticeable […]

By: Chris Saracino

Chris Saracino — Mon, 05 Aug 2013 16:46:55 +0000

In reply to Brian. Thanks for the comment Brian. The stat regarding the decision of young adults to live at home is certainly a contributing element. Personally, I haven't been that affected by the increased condo presence in the city and I think it's only a part of the problem that's contributed to a higher vacancy rate, however, it does underscore the fact that there's more selection than there was previously and tenants have more choice. Definitely hear you on the increasing cost of utilities outpacing the rate of inflation. Landlords need to keep on their game if they intend on capturing a return.

By: Brian

Brian — Mon, 05 Aug 2013 03:56:41 +0000

Personally, I think it is partly from condo competition although not solely as many condos in Ottawa, particularly the ones built in the past 5yrs are going for well above Market averages–$1500 to $2500/month. In the CBC article, I believe there was mention that 75% of young adults 18-25yrs of age were choosing to live at home–that more than anything, may be a big culprit. As a LL myself, I find it frustrating since my water costs are going up 9% a yr, my hydro costs about 6%, my property taxes about 5% and then my mortgage and insurance is more or less fixed. It doesn’t allow me a lot of leeway on the cost side of things to improve profitability.