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Monday, December 21, 2009

How Do Winnipeg Rental Prices Compare?

Every April CMHC publishes their Rental Market Indicators and we thought it would be interesting to show how Winnipeg compares to the rest of the country.

Vacancy Rates: April 2008-April 2009 --> Our vacancy rate went from 1.0% to 0.9%

Our average rent for a 2 bedroom unit went from $746 to $774, resulting in a 3.4% increase.

This compares fairly well with the rest of the country. Saskatchewan blows us out of the water, however.
Saskatoon and Regina had 15.5% and11.4% increases (respectively) during the same period!

See the entire chart here:

What does this mean?

If you are a tenant: Winnipeg is not increasing any faster than most places in the country.
At GaraMark we try to keep our rental prices slightly below market to attract the best tenants.

See our vacancy list here:

If you're an investor: rising maintenance and utility costs continue to outpace the rental increases. Residential Tenancies Branch has set the 2010 allowable rent increase to a whopping 1 percent!
Contact us to find out different strategies to maximize your rent increases.

Got questions? Email us at
Garamark Property Management is located in Winnipeg, Manitoba and successfully protects the investment of an owner while retaining happy tenants.

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