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  • Josh Bolstad

Edmonton Rental Market Update March 2022

Updated: Apr 14

2022 has taken us all for a spin. The pandemic is slowing down and most countries are starting to open back up, which has provided a much-needed boost to the economy. Just when things were looking up, Russia took swift action and invaded Ukraine with the whole world watching.

Canada's Rising Rent 

The uncertainty of everything has been enough to drive the market mad, including the rental housing market. Rent in Canada has been steadily rising for several years now, this year up 4.4% compared to the last. This makes it an unpredictable moment to buy in, as it’s uncertain what the market will do. 

For those looking to purchase property in Canada, rental rates are, on average, around $1,800. Edmonton offers better, more competitive rates, with average rentals around $1,000. This alone is a driving factor of the increase in interest from properties in the area, leaving many to start investing now.

Edmonton's Appeal

There is not a big push to rent properties due to increased job influx or any wave of immigration, two things that tend to drive up rates around Canada. Edmonton has all the appeal without the overcrowding or demand, which is why the rates are attractive to buyers of all budgets.

Among the types of apartments that have sharply decreased in price are those of luxury, including condos. This means that an average Canadian earner can afford a condo in most circumstances, purchasing a luxury home in a good area for way less than market value.

This is a definite selling point when it comes to those on the hunt for good deals, especially young buyers, newlyweds, and even small families. Getting ahold of potential tenants can be difficult on one’s own, which is why it helps to have all-in-one services to get the process started.

Give Roark Properties a Call 

Here at Roark Properties, we provide assistance with all kinds of property needs, including marketing that’s made to maximize outreach. Targeting the right customers is key to renting properties, showing them what great deals you have to offer and how it will benefit them.

It’s not just about finding clients but also about getting on with the process once you find them, including managing contracts, taking care of key agreements, and even keeping track of lease renewals. All of this can become a hassle if you’re doing it on your own, which is why we’re here to help.

All of that and more is what you’ll get with Roark, which is why we’re one of Canada’s preferred property management companies. From taking stunning photos of properties to finding the best places to drop ads, we take care of all the leg work for our clients so that they don’t have to. They can focus on interacting with tenants or just stick to expanding their property portfolio.

If you’re unsure about how your property stands when compared to the market, you can give us a call for a professional evaluation of your property along with key recommendations to getting the max return.

Using our market reports, you can have a better idea of how much you can expect and what you can ask, basing it on backed research. Using key market indicators and advanced predictive technologies, we’re able to provide insight for the present and the future, both long and short-term.

Skim our properties and see what’s on the market in Edmonton today. Or check out what our reports have to say about your property and whether you think it’s a good time to buy, sell, or rent. Getting in at the right time is key to making a profit, so let us help you turn your place into monthly earnings. Head back to Property management companies edmonton.

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