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The market for Calgary rentals has been a very interesting topic of discussion for those living in the city and those considering a move. With the current real estate market being impacted by various factors, such as the pandemic, economic growth, and urbanization, it’s important to understand the future of Calgary’s rental market in 2023. Whether you’re in the market for any condos for rent in Calgary or looking to invest in real estate, this here is a must-read for anyone interested in the future of Calgary’s rental market.

What’s in Store For 2023 & the Calgary Rentals Market

We’re here to send some good news your way. According to the March 2023 report from Rentals.ca, rents have moderated over the past three months. Despite the resettling, Calgary’s still seen an increase to 9.7 percent annually to an average of a $1,984 rate per month in February. Now that we’ve had some time to get comfortable in 2023, how about we take a little look back to 2022, shall we? 

 

Reviewing the Calgary Rentals Market in 2022

According to the Canadian Mortgage and Housing Cooperation, average rents increased by 6 percent in 2022. Vacancy rates also dropped to 2.7 percent, making it the lowest since 2014. This market set a bit of precedence for competition in 2023, making it harder to find that perfect rental property. There is some positive news, however. 

 

The Calgary Market vs Other Major Canadian Cities

According to Rentals.ca, their January report stated that Calgary would still have the lowest average rents for major Canadian cities, with Vancouver taking the cake on the highest rates in Canada. Get this – they’re expected to have the highest price growth of 32 percent, bringing a bachelor suite to an average of $2,377 monthly. Aren’t you glad you’re looking for Calgary rentals now? 

 

Calgary’s Rental Market Currently 

According to the report, overall, the average rent in Calgary for January was about $1,816 per month for all units, up by 22.6 percent year over year. So, what does it mean for those looking into condos for rent in Calgary? Right now, the driving demand is mostly one-bedroom units, with bachelor suites and three-bedroom condos seeing a smaller price jump at about 10 to 16 percent.

 

The Current Pause on Interest Rate Hikes

The Bank of Canada has put a hold on the interest rate hikes this month. According to an article written by the Financial Post, this has some major implications for the Canadian housing market and is predicted to bring housing correction closer in sight. While this is more for the sellers and buyers out there, it does mean that rental rates can start to stabilize. Renters will compete with those who cannot afford to buy, while investors are considering raising the rent to keep up with increasing mortgage payments. So if the pause button is pressed for interest rate hikes, there’s more stability in what investors can expect for their mortgage payments. Less financial pressure on your landlord can ultimately mean less pressure to increase your rate once your lease is up. Either the investor absorbs additional costs or passes it down to the renter.

 

At Unison Realty Group Ltd, we understand the difficulty of navigating the current real estate and rental market in Calgary. Connect with our team today, and we’ll handle what you don’t want, so you can enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Calgary is a vibrant city that attracts people from all over the world. From its thriving economy to its beautiful landscapes, it’s no surprise that many people want to rent in this city. However, with housing marketing being like it is, it’s important to understand the key factors that affect the cost of Calgary rentals. Find out here some of the major factors influencing the cost of rentals, so you know what you can do about it. 

 

Top 3 Reasons Why Calgary Rentals Continue to Increase

Reason #1: High Demand

We have gradually seen Calgary rentals increase rates throughout 2022 and now seeping into 2023. There are many driving factors behind this, but our top reason for Calgary rental rates going up is the high demand. Alberta saw its highest influx of migrants in 40 years, with upwards of 60,000 people moving to the province between July and October 2022. Within Canada, many people moved from B.C. and Ontario to sought-out-after Alberta. Despite interest increases, we’re still far more affordable than our B.C. and Far East neighbours. Although a city’s crowdedness can bring positive economic swings, our available housing in Calgary suffers.

 

Reason #2: Low Supply

Plain and simple, there just isn’t enough housing. We’re especially seeing a low supply of detached family homes for rent. While a two bedroom condo might be more affordable, but it isn’t as accommodating for a family of five. We’re also seeing low construction. Pre-pandemic, investors saw an opportunity in rental apartment development. However, labour shortages, higher construction manufacturing costs, and supply management problems are tossing a massive wrench in a housing bounce-back. Get ready to compromise because you’re not going to get everything on your “want” list when it comes to finding that perfect rental. You also have landlords selling their homes because Calgary is in a seller’s market. Tenants are forced to vacate after their lease and, in turn, continue to add fuel to the high demand.

 

Reason #3: Interest Rates

It might not feel like it, but Calgary is still affordable compared to other larger hubs in Canada, like Toronto and Vancouver (hence the heavy migration). In fact, Alberta was the top inter-provincial destination in the country. More and more people are choosing to move to Alberta to take advantage of the good quality of life and its affordability, believe it or not. With that being said, interest rate hikes have been paused. Borrowing costs are stabilized, hopefully bringing further growth to Calgary’s housing.

 

How to Manage During Calgary Rentals Rate Increases 

Rental rates are going to demand tenants to review their monthly budgeting. Some luxuries may need to be set on the back burner, and tightening the financial belt may be necessary. Finding a roommate to take on that extra bedroom or a more affordable rental option after your lease runs out could be a start in the right direction. You can also connect with a local property management company in Calgary. A good property management company in Calgary can help you find the right match with the right budget. Finding the right rental property can be half the battle, but it isn’t one you have to face alone.

 

At Unison Realty Group Ltd, we walk you through all the steps to ensure you’re getting great value. If you have questions about renting a condo or detached home in Calgary, give our team a call today and let us help you make the best, informed decision.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

For starters, this depends on the goals you have for your property and what kind of flexibility you’d like. Airbnb has grown in popularity, but that doesn’t mean the long-term model for rentals in Calgary doesn’t have many bonuses either. To help you figure out what’s right for you, we’ve compiled the pros and con’s so you can make an informed decision for your income property.

 

Understanding Long-Term Rentals in Calgary vs Using Airbnb

The Advantages of Renting Out Your Property

Let’s talk rental income. For starters, opening up your property to tenants looking to stick around for a while means dependability. You don’t need to cross your fingers that someone will book your property for a few weeks. The expectation should be for your rent to come in every month (ideally) at an expected and agreed-upon rate. 

 

Also, knowing how long your tenants will be staying in your rental property can give you peace of mind and a stronger ability to plan. The other advantage is the ability to hire a licensed property management company. A huge bonus is having a licensed expert comfortable with the rights and regulations of owning an income property. You can be hands-off and not carry the stress of property maintenance or communication with your tenants. 

 

Speaking of maintenance, you have less wear and tear on your property. With Airbnb, you have more guests in and out of your doors, which can make maintenance more frequent, but we’ll get to this later.

 

The Disadvantages of Renting Out Your Property 

A disadvantage to the long-term rental model is that you don’t get to use the property. Some owners would like to use their property randomly throughout the year, and with long-term tenants, that wouldn’t be an option for obvious reasons. For long-term rentals in Calgary, think of dependability but less flexibility.

 

The Advantages of Using Airbnb

There’s a reason buyers are running to put in an offer on good Airbnb properties. However, that still doesn’t mean they don’t come with their own baggage. 

 

First, let’s start with the pros. The Airbnb model allows you to decide the nightly cost for guests. You can change that cost for whatever days you choose and for whatever season. For example, Airbnb owners can increase their nightly fee during peak seasons or if a special concert is in town and you have a good location. (think Stampede). That can have a huge positive impact on the income your property brings every month.

 

A common misconception is that fees eat up your payouts. However, if you’ve booked an Airbnb before, you’d know that the guest, not the host, covers these costs and adds to your nightly price. You can only accept guests rated five stars from other hosts and only accept bookings that have submitted government-issued ID. While this is more thorough than property management in Calgary vetting tenants and interviewing references, you can still rest easy knowing you have proof of identification. 

 

You can also block off certain weeks so guests can’t book your property. Need to host out-of-town family members? You have a place that you can use. Have some friends that need a place to crash for a few days? You have a place for them. Need to get away? Visit your property for as long as you need it. 

 

The Disadvantages of Using Airbnb 

Now, as for the cons. We touched on it above, but Airbnb can potentially be less dependable when generating income. Only some properties are vacation rentals, so you need an eye for what’s in demand. Airbnb’s are also furnished properties, so consider this an extra expense. You also need to ensure you can handle the in-between cleanings. While hosts typically charge a cleaning fee to guests, you or a paid cleaner would still need to take this on. It’s a hassle, but owners still consider the higher monthly payouts worth the legwork. 

 

As you can see, there are pros and cons to both models. It depends on the flexibility you’d like to have and if you’d prefer a licensed property management company to handle the stresses of an income property.

 

At Unison Realty Group Ltd, we take care of your property and conduct thorough screenings to ensure your property has quality tenants. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

We’re currently in the days of a balanced market here in Calgary, meaning having 15 offers on the first day of a listing is no longer. Ah, what a time. Although we’re no longer in a seller’s market, owners with investment properties still see plenty of light at the end of the tunnel. With that being said, tenants finding affordable rentals in Calgary are getting a bit harder to come by in cowtown. Inventory is tight, and if you’re in the rental market for something larger like a four-bedroom family house, you’re in for a bit of a battle. 

 

Top 4 Things To Know In Today’s Calgary Rentals Market 

Why Is Rent Increasing in Calgary?

Regarding rentals in Calgary, we have gradually seen the price of rent increase throughout 2022, especially in July and August. There are many driving factors behind this, but it’s mainly due to increasing demands, low inventory, and rising interest rates. 

 

The Payoff For Homeowners

Rent increases will help you cover the rise in cost for maintenance, services, property taxes, and insurance. Today, the average one-bedroom apartment rents for around 1500$ per month, compared to last year at about 1200$ per month. With rising interest rates for purchasing a home in Calgary, more people are seeing the benefits of renting. 

 

The Payoff for Renters

It might not feel like it, but Calgary is still affordable compared to other larger hubs in Canada, like Toronto and Vancouver. In fact, Alberta was the top inter-provincial destination in the country. More and more people are choosing to move to Alberta to take advantage of the good quality of life and its affordability (believe it or not). 

 

Moving Forward

Ask your current property management in Calgary for their recommended rental increase. The average days-on-the-market for rental properties is only twenty-eight days, so the competition is high – and the likelihood of your property staying empty is quite low. For renters, do not wait until the last minute to find your next home. If you know your lease is soon coming to a close, have a conversation with your property manager or landlord about a renewal. If not, be proactive and try to lock something before you get down to the wire. After all, the early bird gets the worm! 

 

At Unison Realty Group Ltd, we walk you through all the steps to ensure you’re getting great value. If you have questions about purchasing a condo in Calgary or already have your eye on something in the market, give our team a call today and let us help you make the best, informed decision. 

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Buying a condo in Calgary has become popular for many potential homeowners. In the current housing market, many are setting their sights on them since Calgary condos have become a more affordable option. If you’re one of many who are looking to make a condo your home, learn what you must do with a few handy tips from the professionals at Unison Realty Group. 

 

I’m Ready to Buy A Condo: Where Do I Start?

Before we start with what to look out for when buying a condo, let’s get you through the preparation steps. That way, you can get your ducks in a row before you find yourself a licensed real estate agent. 

First and foremost, you will want to find out what you’re pre-approved for by contacting your bank or a mortgage broker. Knowing your financial limits and comfort level will help you make an informed decision. Also, the better you know your budget, the sooner your agent can get the ball rolling with booking you the right showings.

It’s also important to consider extra costs when buying a condo. It could include your condo document review, home inspection, moving costs, lawyer fees and closing costs. Doing your homework first is the right way to avoid any stressful surprises later down the road when you’re trying to close on your next investment property or Calgary condo.

 

 6 Tips for Buying A Calgary Condo for Potential Homeowners

1. Hire a Real Estate Agent & Stick to Your Non-Negotiables

Have a meeting with your agent to ensure you click and are both on the same page. If you feel well supported and your questions have been answered thoroughly – go for it! Looking for an agent specializing in condos could also be a definite bonus. Now, when it comes to viewing your potential condo, make sure you stick to your non-negotiables. Getting distracted can be easy when you view a property with modern staging; realizing that the den you wanted for a workspace is missing could fly right past you.

 

2. Parking & Storage

Don’t fall in love with your condo just yet. Make sure you have what you need when parking your vehicle and have enough space for all your sports equipment. Even if you don’t have a car, it’s great for resale value or possibly even renting the space to another tenant or owner needing a second spot.

 

3. Visitor Options

This one is sometimes forgotten about until you invite your family of 5 over and realize you don’t have enough spaces for them to park. Ask your agent about a visitor parking area and how many spots are available. Maybe there’s a designated guest suite available that you can book in advance for family and friends. These are nice perks you can consider, especially if you like to host.

 

4. Building Security

Not only does this give you peace of mind, but it’s also a great added value to everyone in the building. Ask your agent about the security features and what kind of hours the concierge works, if there is one. Also, ask if the bottom floors have access to the top floors through the elevator or emergency doors.

 

5. Talk to a Neighbour

No one has better insight into the building than someone who has already lived there for a few years. See if you can chat with a hallway neighbour to see how they like the building and if they can vouch for their living experience. If they give you two thumbs up, you will likely enjoy it just as much. You can also ask a fellow condo owner what they think of the condo board. If they have any issues, they’ll usually let you know!

 

6. Condo Document Review

It’s important to have a professional condo document review. That is your opportunity to ask questions about the building and how it’s being run. How much money is in the reserve fund? Are there any important details in the disclosure statement? What do the condo fees include? Depending on the details, its service will typically run you between $300 and $600.

 

At Unison Realty Group Ltd, we walk you through all the steps to ensure you’re getting great value. If you have questions about purchasing a condo in Calgary or already have your eye on something in the market, give our team a call today and let us help you make the best, informed decision.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

With the ever-changing housing market, many potential tenants wonder when would be the best time to find an apartment. It leads many people to speculate if there is a month that’s the cheapest for apartment rentals in Calgary. If you have been pondering this question, our rental experts at Unison Realty Group can give you the breakdown.

 

What is the Average Cost of Rentals in Calgary? 

 Before we understand the best time to find your rental, we must learn the average cost of rentals in Calgary. According to a new report by Rentals.ca, the average price for a rental property in Calgary was $1,520 in July of 2021. This year, it’s increased by 13 percent for an average of $1,797. Although Calgary ranks top 25 most expensive places to rent in Canada, it’s still just meeting the national average of $1,888 per month. We know it’s not much of a difference, but we’ll take the win! Of course, this also depends on what you’re looking for in a property. Going for a detached family house will be more costly than renting a single-bedroom apartment. So, if you’re looking to stick to a budget, consider the space you’ll actually need.

 

 

What Month is the Cheapest to Find A Rental?

The short of it is that there is no rental form of musical chairs when finding an apartment in Calgary. However, you might find some better deals in the low season. From November to January, fewer people are renting because of the holiday season, and bearing the winter storms does not make for a good moving day. It’s here where you might find something more in your price range.

It’s also important not to look too far ahead when renting. If you plan showings and call landlords 2-3 months earlier, you will run into some issues. First, most people only give one month’s notice when they plan to end their lease or vacate the property, so your options will be limited. 

Also, landlords won’t hold the property for you since they’d be losing out on rent and other eager tenants ready to move in right away. There will also be a slight peak of renters in August and September for students. So, if you’re looking for a Calgary rental in the summer months, keep your eyes open and be ready to jump on it because the competition will be real, and the number of applications will be higher than normal.

 

What Other Factors to Consider for Rentals?

It’s also important to pay attention to what utilities are included in your rent. For a newer apartment, heat and water are usually included. Electricity can sometimes be included as well, and if you’re lucky, they’ll toss in cable and a parking stall. For a townhouse, you’re usually looking at having to pay your utilities separately from your rent. It’s an added cost and can make your bill load feel a little heavier at the end of every month.

To help your search, calling a property management company might save you some time. Give them your search credentials and your budget, and they’ll be able to look through their portfolio to see if they have the right fit for you. A bonus? You connect with the property manager directly and develop a good rapport. They’ll be your go-to should anything go sideways in your rental, so best to get on their good side and let them know what a responsible tenant you are! 

 

At Unison Realty Group Ltd, we take care of your property and conduct thorough screenings to ensure your property has quality tenants. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Both parties have different responsibilities, so they can best look after the building and separate units. In a small nutshell, condo boards in Alberta make the final decisions, and property managers provide administrative support and expert advice. Like corporate executives at a head office, condo boards regulate the finances and operating procedures and make decisions that best shape the direction of the condo. As for the property manager, they act as partners to assist the condo board with managing their community. Those who work in property management in Calgary also work directly with Calgary condo owners to best support requests and concerns from tenants. Now, let’s focus on what makes these two managerial roles unique!

 

Top 3 Differences Between A Condo Board & Property Management in Calgary

1. Residence versus Condo Corporation

Property managers mostly concern themselves with the direct communication of owners, tenants and renters. It’s their responsibility to work with owners and keep their property leased with quality tenants. Property managers are also responsible for advertising, negotiating, screening, and organizing tenant documents and other related paperwork. Condo boards are more focused on enforcing condo bylaws, enlisting contractors for condo-related maintenance, collecting condo fees, and ensuring the building is safe and financially sound. It boils down to property managers supporting tenants and owners while the condo board focuses on the building and its operations.

 

2. Suggestions versus Final Decision Making

Now, that’s not to say Calgary property management companies don’t have anything to do with condo boards. They’re a great support to condo boards in giving them suggestions for the day-to-day functionality of the building and recommendations for policies and procedures. While the board of directors for a condo board set, approve and delegate all decisions regarding the building, property managers can lend their expertise to ensure they can take the best care of their condo corporation.

 

3. Financial Upkeep

Condo boards identify their wishes for the building and review and approve the annual condo budget. To support the condo board’s plans, the property manager prepares the budget and reviews it with the board of directors to provide recommendations. The condo board’s responsibility is to identify the building’s needs and lay them out in the budget. The property manager obtains quotes, prepares analysis, implements the board’s decisions, and monitors the performance. It’s also the main responsibility of the property manager to collect and hold payment on an owner’s behalf.

 

When broken down into different roles and responsibilities, it’s clear that both disciplines work to support each other to manage the best interest of the condo community. Condo boards look after the “big picture” side of things, like dealing with the building or property as a whole. On the other end, property managers deal with the individual unit, the owner, and the tenant.

 

At Unison Realty Group Ltd, we take care of your property and conduct thorough screenings to ensure your property has quality tenants. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]nrealty.com

Website: unisonrealty.com

Ultimately, it depends on what you can afford when you account for income and other expenses. Calgary’s rental market can fluctuate, so finding a property that meets your requirements, plus an affordable monthly amount is how you’re going to start your search.

 

A popular rule of thumb is 30% of your income, AKA 30% of your gross earnings (everything you take home before taxes). So, if you earn $3500 per month, you should be spending around $1,050 per month on rent.

 

While this might be a solid guideline, it’s definitely not a one-size-fits-all.

 

Formulating a Rental Budget

 

Sticking to spending 30% on rent might not be feasible for everyone, especially when it depends on what city and neighbourhood you plan to live in. There are 2 major flaws with the commonly used “30% on rent” rule. First, it doesn’t consider your personal circumstances. For example, you may have student loans, or have real estate goals you hope to obtain within the next few years. You also need to factor in other expenses to cover your basic needs, such as transportation and monthly food costs.

 

Another flaw about allocating 30% of your income to rent, is that it doesn’t consider inflation, rising rental costs, and income stagnation. Although Calgary is considered one of the more affordable Canadian cities to live in, there is an expectation that cost of living is on the rise.

 

We also can’t forget about saving. It might be your priority to retire early, or save for a down payment on a house. It’s important to not compromise on your savings in order to pay more on rent. Your future self will thank you when it comes time to retiring, or finally moving into a home you can call your own.

Look For Savings

Downtown calgary rental property condos close to eau claire

As you move closer to Calgary’s city centre, the price tag for your potential rental is going to run up. Take a look in the suburbs, and it might help relieve your rental rate. On the flip side, this might impact your transportation costs commuting to and from work everyday. This might not be a worry if you work remotely, but still remember your social engagements.   

 

Keep your eye out for rentals that include utilities, like heat and water. Some rentals also offer incentives, such as first month rent-free, or cable included when signing a 1-year lease. There could also be an on-site gym in the building, saving you upwards of $100-$200 a month on a gym membership. When you’re comparing the costs of rentals, factor in those perks so you can have a better idea of what you can afford and how you can save on some costs.

An option that could help save you time is you could connect with your local Calgary rental & property management company and have them look for a property for you. Let them know your budget, required amenities and included utilities, and they can keep an eye out for your ideal rental property.

At Unison Realty Group Ltd, we take care of you property and conduct thorough screenings to ensure your property has quality tenants. We’ll handle what you don’t want, and you’ll enjoy the benefits.

 

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Do you dream of having your own investment property? 

 

With “56%, Alberta boasts Canada’s highest home ownership rate among those aged 25 to 35”. That means the idea of having a strong asset to build your future on and generating consistent monthly income while taking advantage of today’s low-interest rates is a good one, particularly if you’re new to the industry. 

 

Let’s take a look at the advantages of investing in Calgary rentals and how you can start the process of investing for your future. 

 

What are the Advantages of Owning a Calgary Rental? 

 

  • Receive regular monthly income – the rent you collect, minus your expenses, means a steady, predictable flow of cash flow. You can use the extra funds to pay off your investment property. You can even use it as an Airbnb investment if you wish. 
  • Asset appreciation – There is no guarantee that your property will increase in terms of value, but historically, real estate has appreciated over time. That means you’re making money off your asset in future. 
  • Tax deduction – Play your cards right, and you can deduct specific expenses from your gross rental income. These can include property taxes, insurance, maintenance costs, property management fees and even utility bills. 
  • Vacation spot – Imagine taking a few days off and enjoying a break somewhere? That’s what you can get when it comes to your new rental property. 

Suburban House

 

How To Buy a Calgary Rental

 

If you ready to take the plunge into the investment market for the first, here is how you can go about getting your dream property: 

 

  1. Get your finances in order – Determine what you can afford to buy, seeing if you have enough in terms of a minimal down payment (Canada’s mortgage rules dictate that you need a minimum of 20% for a small rental property) 
  2. Assemble a team of experts to assist you – You can’t do the work yourself. Bring together a real estate agent, mortgage broker, lawyer, property management company, home inspector and insurance agent. 
  3. Research what you can afford – Whether it’s a condo rental or a house in Calgary, consider what you can afford and what you can buy. 
  4. Choose your mortgage and insurance – Your rental property is a valuable asset, so it needs some financial backing to make it work. Speak to your mortgage and insurance broker to determine the best rates for your budget.
  5. Hire a property manager – If you don’t have the time to respond and manage your Calgary rental property, then leave it to a professional that can. It’s not overly expensive to bring on board a professional company. 
  6. Learn about landlord/tenant laws – Alberta has some strict landlord/tenant laws that promote fair rental practices for both sides. It’s best if you know about them so that you know what your rights and responsibilities are. 

 

Owning a rental property can be a lucrative proposition that secures your future. But it does take a lot of work, research and planning. If you plan to buy an investment property, take the time to ensure that the research backs your claim. 

 

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Just like we did when we previously discussed the differences between condos and apartments, we will compare two popular housing options: it’s condos vs townhouses. 

 

Let’s take a look at the distinct differences between these two property options. 

 

The Basics 

 

The best way to start this off is to determine the basics of each property:

  • Condos are similar to apartments in that it is an individual unit residing in a building or community of buildings. Unlike apartments, condos are usually managed by an association or condo board, with each individual owning a condo. 
  • Townhouses are attached homes that the resident owns, but unlike regular homes, one or more walls are shared with an adjacent attached townhome. 

 

While they might share some development similarities, the two’s biggest difference comes down to ownership, homeowner associations, rentability, and fees. Let’s break each of these down.

 

Ownership Rules 

 

In terms of ownership, there is not much difference between the two. 

 

Firstly, when you purchase a condo, you personally own your unit and share joint ownership of the building with the other owner-tenants. Therefore, you will contribute financially (more on that below) to the building’s overall running and your own individual unit. 

 

On the other hand, townhouse ownership means that you own the building and the land it sits on. It is similar to a traditional home; instead, you might share some of the home’s walls with other detached dwellings.  

Ultimately, it all comes down to what you want and what you can afford. 

(Read our guide on what to look for in a condo rental)

 

Homeowners’ Associations (aka, the Board) 

 

The biggest difference between condos and townhouses against single-family homes is homeowners’ associations (HOAs), better known as ‘the board’. 

 

The HOA is run and operated by other tenants of the property, who handle the day-to-day maintenance of the shared spaces either through an individual or a Calgary property management company and establish all the rules. These can include noise levels, parties, pet allowances, renting out the property, and the extent you can conduct renovations within your unit (such as if it affects others or impacts their livelihood). 

 

When purchasing either, you will have to pay monthly fees to the association to maintain the property. HOAs manage the building, its grounds, roofs and exteriors of the structures and common interior spaces in many cases. 

 

In terms of condos vs townhouses, it all depends on how the HOA operates, their fees and rules. You’ll have to compare both and see the best option for you, both in terms of lifestyle and budget. 

 

The Costs of Owning The Properties 

 

Even with monthly HOA fees, owning a townhouse or a condo is more affordable than a home. 

 

Modern Luxury Apartments

 

Yes, you have to pay for property taxes, home insurance, and home inspections (before taking control of the house), as well as the various maintenance fees that come with managing the property. Still, overall they’re great options for first-time homebuyers or anybody on a budget. They’re also great as investment opportunities, particularly as Calgary rentals. 

 

(What to know how to make money from rental properties? Read this!)

In terms of the cost differences between the two, condos tend to be cheaper to buy since you invest in any land. The

HOA might be higher, though, but you won’t be worried about maintaining the land itself.  

 

The Better Resale Value

 

The resale value of each of these properties will never be as high as a single-family home, but that doesn’t mean you can’t make a profit. 

 

When it comes to appreciation rates, condos have generally been slower to grow in value than townhouses, but times are changing. The boom in condo properties, and their quality, coupled with the potential to profit as a condo for rent in Calgary, means you can still make a worthwhile investment after a few years. Townhouses, though, still offer high resale value. 

 

The biggest concern is that buyers have to consider other factors out of your control, including how well run the HOA is, their fees, maintenance, what the building or land offers, and any future developments. 

 

Which is Better For You? Calgary Condos or Townhouses? 

 

When choosing between the two, it’s best to consider your budget, lifestyle, and short-term and long-term plans. 

 

There’s no real winner—both have their pros and cons, and both have a fair amount in common with each other. Speaking to HOAs, real estate agents and Calgary property management companies can help. From there, you’ll be able to make the best decision.

 

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Part of owning a Calgary rental is that you get to maximize your income. You have the potential to make more money while paying off the mortgage by analyzing how much rent you should charge per month. 

 

You can’t go over the market rate (as you’ll deter renters), and you can’t charge too low, or you’ll lose money in the short and long-term. 

 

Finding the middle ground is the perfect balance where you can make a steady rental income that helps your debt and gives you more financial stability. 

 

How do you go about finding the perfect balance? How much rent should you charge? 

 

This guide will help you make the right moves to secure your rental income. 

 

4-Step Guide To Creating Your Calgary Rental Income 

 

Crunch Your Numbers

Ensure that the rent you charge has enough to cover all the expenses you accumulate as a landlord. Setting too low a price means you won’t be able to pay off the mortgage, maintain the property or pay back other debts. 

 

As such, it’s best to calculate all the expenses that come with being a landlord, so you can determine the minimum amount you’ll need to ensure that you can securely make payments while knowing that any extra means more cashflow. 

 

Consider the following: 

  • Mortgage
  • Bills for heat, power and water (if you include them in the rent)
  • Maintenance and repair costs (for both the interior and exterior of the property)
  • Income and property taxes 
  • Homeowners association fees (if part of a condo or apartment complex)
  • Property management fees (if you’re using one) 
  • Home insurance 

With this foundation, you can determine the minimum you can charge and now move forward to the next step. 

 

Know What Your Property Can Offer 

What your property can offer in terms of lifestyle and livelihood is paramount to determining how much rent you should charge. You know your property inside and out, so you can understand what makes it an appealing option for renters. 

 

For example, does your property offer cool amenities, such as a pool or gym room that other properties don’t? Does your rental condo in Calgary have an in-unit washer and dryer? Is the location close to supermarkets, public transportation, highways and Downtown? Is the walkability decent for families or couples? 

City living

It’s these pointers that mark your property out as different compared to others, so make sure you find the “attention-grabbers” that will hook in future renters. 

 

Know Your Competition

It’s essential to take a look at what other landlords in your area are charging. Remember, they might be your neighbours, but they’re also your competition; you’re both fighting to attract renters’ attention. 

 

Therefore, understanding what other landlords are charging for similar properties is pivotal to use as a starting point. But you have to dig a little deeper. You have to find why they are demanding that amount for their property. 

 

Is it the location, the amenities, or the large backyard? See what contributes to their overall rental price, and add it to your calculations. Do you offer something more or less? If so, you’ll have to adjust your rent accordingly.

 

Carefully comb sites like Rentfaster, Rentals, and to a lesser extent, Kijiji to get an idea of the competition in the area. 

 

If finding out this information is difficult, you can also speak to industry experts with an in-depth understanding of rent prices within your area. Real estate agents or property management companies in Calgary can give you insight into your competition and guide your pricing.

 

Remember to check if there was a shift in price in the last couple of months within the area. You may have to do the same to remain relevant in the rental market game. 

 

Check Track of Rental Laws 

While you’ll love to charge any rental amount you want, you can’t do it. Some provinces have limits to monthly increases, security deposits and late fees. Rent control laws exist to ensure that there is support for both renters and landlords. 

 

It’s best to double-check with the Alberta government on the laws regarding rental properties, security deposits and income. You can click here for more information.  

 

 At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

When you begin looking for apartments or condos for rent in Calgary, the process may appear daunting. However, there is a bevy of features and sites that make the search fulfilling, simple, and rewarding. All it takes from you is a little time and a sense of what you are genuinely looking for in your next rental situation. 

 

Therefore, the best way to begin your search for apartments or condos for rent in Calgary is to come up with a list of desires and goals for your next living space. The planning should be done quickly and refined as the search goes on because nobody knows exactly what they are looking for at first. 

 

Planning Your Calgary Rental Conditions

 

The first step in your planning process should be the location and size of your expected domicile. If you have a family, you will need additional rooms to have sufficient space for everyone to cohabitate, and you also want to ensure that you are in a location compatible with your work and social activities.

 

For instance, planning to move downtown while working in Airdrie or the far south end of Calgary may not be advisable, especially for people with a large family.

 

Happy roommates moving home resting and talking

 

The next step you should consider is the features of the condo or apartment. If you live an active lifestyle, you may want to ensure the potential rental building has gym or pool areas available. Similarly, if you have an outdoor pet, a large, fenced yard would be suitable for them to get exercise and out of the house. 

 

Finally, you should consider the cost. Yes, this is a relevant consideration to make throughout the planning process, but the previous considerations should inform it. Of course, this will help the most after you have begun the next phase, which is:

 

Researching Condos for Rent in Calgary

 

Now you have a plan in place and know what you are looking to find in your rental. Next comes the research phase. Look through property management websites as well as traditional avenues like rentfaster.ca and Kijiji. Find places you like, and perhaps note what makes them unique. Remember how flexible you are to change when you find an additional requirement that you value. 

 

After you have several listings that fit your specifications, contact the people who own or manage the properties and schedule viewings. Don’t concern yourself with committing immediately as this can lead you to make a decision prematurely. Instead, graciously inspect the properties, and once you are satisfied you have found the perfect property, engage with the owner or manager and make an offer. Good luck and happy hunting!

 

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Trying to increase your rent and make a profit from it is harder than most people think. Simply raising it will deter tenants and make it harder for you to find someone you like – losing you more money in the process. As a landlord, you have to know how to maximize your rental profits in today’s challenging market. 


This blog post is here to help. We have five ways that you can raise the rent of your property, and maximize your profits. 


How To Make The Most Out Of Your Rent


Set A Competitive Price

Establishing a fair price for your rental property is the protection you need to make sure that you don’t lose any money from your investment, but there is a delicate balance that you need to find. Raising the price too high will discourage tenants, while putting it too low means losing money. To establish a competitive price, do your research on:

  • The listings and prices in your neighborhood
  • The conditions and amenities of similar rentals
  • The pricing strategy based on the duration of your lease 
  • The supply and demand of the Calgary real estate market 

The more research you do, the more you can adjust your rent to get the money you deserve. 


Invest In Your Rental Property 

If you invest money into your rental property, you can expect to get that money back in the rent that comes in. Over time, you’ll be making more profits from it, especially if you raise your rate. Having a newly renovated property (or even specific areas of your home), will be attractive to high-earning renters, who will be willing to pay the rent if they know the money is worth it – meaning you’ll be making more profits over the long-term. 


Get Help From A Rental Property Management Company In Calgary 

While it might seem counterproductive to spend money on Calgary property management, the benefits that you’ll gain are evident. 

property management

By conducting their research, they’ll be able to determine how much you can increase your rental price, and what you can do to increase it. They have experience in the field, and can use it to make sure you get your fair price for your rent. 


Take Advantage of All Tax Breaks

The Canadian government is very supportive of landlords and provides them with opportunities to claim back money on their investments. You can take advantage of tax breaks and offsets by writing down all the capital expenses spent on improving your property and obtaining higher rent rates. You can claim anything from insurance to advertising and rental property management fees. You’ll be able to claim any investment back through your taxes, guaranteeing more money in your pocket than out of it.  


Target Your Ideal Tenant

Don’t just settle for any tenant – choose the ideal candidate. By getting the perfect tenant, you can set a higher rent rate, expect them to pay it, and expect them to stay for the long-term – saving you money in tenant turnovers. 

Take the time to search for your ideal tenant. Find out what they want in terms of home style and facilities, their lifestyle (where your property is located will impact this) and what they plan to do with their future. If you need advice, you can always speak to your Calgary property management company. 


At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or enquiries contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Renting a furnished apartment is a great option if you’re justing starting out or you can’t afford furniture. Often, furnished rentals are the preferred option for individuals in search of a short-term option, but regardless of how long you stay, you’ll want to feel at home in your place. Follow these tips and tricks for feeling at home in your condo or apartment.

 

Start in the Bedroom

There’s nothing better than coming home from a long day at work and cuddling in your big, comfy bed. If you want your bed to feel more inviting, adding your own duvet cover, sheets, and decorative pillows can make a world of difference.

 

Move to the Living Room

There may not be a ton of options for personalizing the living room depending on how much furniture there is; however, personalized throw pillows and blankets can add colour to the space and make it feel more like your own. You can also hang your own wall art and add framed pictures of your friends and family.

 

Furnished Rental Feng Shui

You should consult with the property owner or the property management company before moving furniture around, but rotating the kitchen table or rearranging the couches in the living room just the way you like can add an extra touch of homeyness. Just remember to take pictures of everything before you start the feng shui process so you can put everything back in order when you move.

 

A Furnished Rental that Smells Like Home

We all know that smell and memory are closely related; the right scent can bring back the best memories and fill us with happiness. Sometimes, making your furnished rental feel like home could be as simple as lighting a candle or burning your favourite incense.

 

The Benefits of a Furnished Rental

When you live in a furnished rental, you’ll be able to save money on furniture, and you won’t have to buy it all at once. When it comes time to leave and find a place of your own, talk to a property management company about finding a house or apartment in Calgary that you can call your own.

 

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

 

Unison Realty Group Ltd.

 

Calgary’s Choice for Property Management & Rentals

 

For any questions or enquiries contact us:

 

Phone: (403) 219-3000

 

Email: [email protected]

 

Website: unisonrealty.com

Thank goodness for the world of Pinterest that offers an endless supply of imaginative ideas and creative solutions for everything from lifestyle tips to interior design. When it comes to home decor ideas, Pinterest is the proverbial jackpot. However, it can sometimes be difficult to decorate when you’re renting an unfurnished apartment. Here are 5 decorating ideas that are Pinterest worthy and property management approved.

 

1. Decorate the Walls of Your Rental Property

Most condo units for rent come with generic builder’s beige on the walls – could there be anything less exciting? If you are unable to paint, look for frames, pictures, mirrors, removable wallpaper, even unusual trinkets like paper fans to hang on the walls. Bonus Tip: Keep your rental property management company happy and avoid putting excessive amounts of holes in the wall by using Command Strips.

 

2. Fix the Lighting in Your Rental Property

Most property management companies won’t allow you to replace the light fixtures in your rental property. However, you can still spruce up the lighting situation with funky floor lamps, desk lamps and portable light fixtures. You could even turn to Pinterest for some ideas on making your own unique lampshade!

 

3. Maximize the Storage in Your Rental Property

One of the biggest problems that renters often run into is storage. Rental properties sometimes don’t provide adequate storage room, and sometimes you have to get creative. Look for ottomans that double as a storage unit. Use bins and baskets on your bookshelves to store odds and ends.  You could even add stylish drawers or storage bins under your bed to store seasonal clothing, shoes, and more!

 

4. Hang Curtains in Your Rental Property

Your rental property in Calgary may come with vertical blinds or other window coverings, but you can always add your own unique style with drapes and curtains! Keep in mind that any holes larger than a picture anil must be covered upon vacating. There are also brackets that you can attach to existing fixtures to eliminate the problem.

 

5. Decorate the Floors of Your  Rental Property with Rugs and Carpets

A lot of  Rental Property properties have hardwood or laminate flooring. You can add colour and coziness to any space with a rug. Even if the suite has flat weave carpet, rugs are a great way to liven up the room.

 

Enjoy these ideas from a property management company in Calgary. Happy decorating!

CTA:  At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

Unison Realty Group Ltd.

Calgary’s Choice for Property Management & Rentals

For any questions or enquiries contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

 

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“Kendell was professional, supportive, realistic, optimistic and informative in his overall interactions with us. He went beyond expectation and wowed us and our friends. I would recommend him and Unison Realty anytime, any day.”
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“Shauna helped make the rental application a breeze and makes herself available at any time if there are any issues. I have no reservations in recommending Shauna and the Unison team to anyone looking for a rental.”
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Rochelle G.
“I’ve been so pleased with the service and help that Unison Realty has provided!”
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“Kendell was professional, supportive, realistic, optimistic and informative in his overall interactions with us. He went beyond expectation and wowed us and our friends. I would recommend him and Unison Realty anytime, any day.”
Kehinde
“Shauna helped make the rental application a breeze and makes herself available at any time if there are any issues. I have no reservations in recommending Shauna and the Unison team to anyone looking for a rental.”
Kieran H.
“Unison Realty has been top notch to deal with and happy to be renting with them now. Thank you for finding me a temporary home!”
Rochelle G.
“I’ve been so pleased with the service and help that Unison Realty has provided!”
Laura L.
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At Unison Realty, we believe in flexibility to your time and needs. We do our best to understand your property goals and help you achieve them. Our team strives for excellence, whether it be our service, rates, properties or tenants, Unison Realty is your best choice for a property management company in Calgary.

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REVIEWS

“Kendell was professional, supportive, realistic, optimistic and informative in his overall interactions with us. He went beyond expectation and wowed us and our friends. I would recommend him and Unison Realty anytime, any day.”
Kehinde
“Shauna helped make the rental application a breeze and makes herself available at any time if there are any issues. I have no reservations in recommending Shauna and the Unison team to anyone looking for a rental.”
Kieran H.
“Unison Realty has been top notch to deal with and happy to be renting with them now. Thank you for finding me a temporary home!”
Rochelle G.
“I’ve been so pleased with the service and help that Unison Realty has provided!”
Laura L.
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