The Canadian Mortgage and Housing Corporation say that the demand for rentals outpaced supply. Across the country, the number has gone up to 23,000 in the last 12 month which is a 1.2% increase.
The demand was fuelled by migration to Canada, improving employment for young adults allowing them to move out of the family home as well as an aging population looking for low maintenance living.
Many condo units are being used as rental units. Between 22-38% of all condos in the province of Ontario...
In June of 2017 the Salvation Army announced publicly their intentions to develop the parcel of land at 333 Montreal Road in Vanier as their new location for their multi-purpose homeless shelter.
What do home owners think of this announcement and more importantly can this proposed project affect their property values as well as rental rates in the area? In area of 600 meters surrouding the proposed site, in the 12 months leading to June 1st 2017 and the Salvation Army's announcement there were...
What portion of Ottawa condominiums are owned by investors and rented to tenants? The average varies depending on the size of the condo building where the units are located. CMHC provides us with an average for the City based on condominium building sizes. You can view the historical date below. Please note these are approximate figures and these would vary depending on the neighbourhood or area.
In Ottawa an average of 28.7% of condominiums are owned by investors and rented out to tenants. Wit...
Looking to purchase a condominium unit as an investment? You've already had a look at the low vacancy rates of condominiums in Ottawa and now want to know about average rents for these types of properties?
Condominiums are in high demand in Ottawa and therefore investors can expect a good rent on their units. Below is the historical average rental price of a condominium based on their size.
The average rent for a 1 bedroom condo unit in Ottawa is $1,234 while the average rent of a 2 bedroom an...
Planning a real estate investment? Looking to buy a condominium in Ottawa to rent out to tenants?
Knowing market rents for your neighbourhood, building and property type is very important. You will also want to consider the vacancy rate for the type of property and area you are looking at.
In 2016 the vacancy rate for Ottawa was 4.7% in condo buildings with 3 to 19 units. The vacancy rates drop significantly as we move to larger condo buildings. You can expect a vacancy rate of 1.8% for units...
Average rent prices across Ottawa vary depending on the neighbourhood and the property type.
In 2016 the average rental price of a single detached home was $1,537. Row units, semis' and duplexes, on the other hand, had an average of $1,489.
Have a look at the chart below for the historical average rents in Ottawa by dwelling type.
If you are looking to rent a property in Ottawa or if you an investor looking to purchase an investment property trust the expertise of Roch St-Georges with EXIT R...
Looking to rent a property but not quite sure where to move to? Here's how much a rental apartment or row unit would cost you per month depending on where you want to live in Ottawa. These figures are the latest figures from CMHC prepare in October of 2016.
The most expensive bachelor rental unit can be found in Nepean while the least expensive one can be found in Vanier. If you are looking for a 2 bedroom unit and want to spend the least amount of money you may want to check out the Eastern ar...
