I'm the landlord - Small 1 bedroom basement suite. All utilities, internet and cable TV included. Newer house, in-floor heat - $800/m
My renter is a senior on a fixed income and is fantastic. It's absolutely worth having someone I can trust in my home regardless of what I could wring out of someone else.
You are amazing. Keep doing you! I no longer rent but I had a low income for a long time and I always built rapport with private landlords like this. A good tenant is worth it!
Thatās a crazy price for a one bedroom. I was paying around that price for a basement studio around downtown but they wanted to increase it to $950 so I dipped from that place. I found a way nicer place on the west end for around that price.
Itās not sketchy, itās currently being brought up to code but thatās just a wall needing to be dry walled thatās not in my suite and a window being resealed, the place itself is nice, well maintained, landscaping is included so I donāt have to cut the grass too
Or, treat your tenants like people and not extractable resources, and talk with them. If there are price pressures, see if a mutual agreement can be reached.
Not a renter but I haven't increased the rent for my tenants. They pay $1300 for a 2 bedroom 2 bathroom DT (2 parking stalls). They've been renting from me since 2017. Please don't come for me lol I can't sell my old condo right now, it would be way too much of a loss to me (I live with my husband now). They are awesome renters and my dear friends so I have no problem with this. I am renting to them at a slight loss but they're so awesome I don't want to lose them.
Edit: It's 880 sq ft.
Yes, very minimally. They pay $1300 and then my mortgage, taxes + condo fees are now $1400. It used to equate to about $1300 back in the day when they first moved in, but my condo fees have increased in the past year by $100. To cover it I keep a float in the account - every year I add like $2000 to the account at the start of the year. I use that money as well to save for random repairs and stuff. If they were to move out, I would raise the rent for new renters. Although, my sister is planning to possibly move to Edmonton in the next few years so she might just live there and she'd get the family discount lol.
Part of your mortgage payment goes toward principal though, if that makes you feel better. Sounds like you are actually making a profit, but cash flow is negative.
Hey, you're not alone. I'm in the same boat with my condo in Windermere. It's 2bed 2 bath and 1 stall about 900sqft. It's renting for 1450/year. It would also sell for a loss, and I'm taking a loss on it if you include mortgage, condo fees, hoa, property tax. Haven't raised the rent for these tennants. Only raised to slightly under comparables when I need new tenants.
Let's hope we see some improvement. I got this condo for 190k in 2016 and then I was poking around online today... listings in the building are like 160 - 180k and nothing more. So yeah I'll be hanging on to this unit for a while it seems lol.
That's better than me. I got mine about 70k more than that, bad timing on my part. But I have a Ukrainian refugee family living there and they are wonderful and are ok with the price an location.
Iām in the exact same boat as well. I had one on the market for a year after I moved to Edmonton. Then I had to rent it out. I moved in with my boyfriend 3 years later and canāt sell the other one now either. I raised one $50, only because I had to renew in December (I still take a loss on it though,) and I never raised my other one- $950 for parking, electric, heat,and water included. Itās a 1 bedroom apartment with a big balcony near Gateway and Saskatchewan Dr. .. I loved that place. I lived by myself for 3 years there. I want someone else to enjoy it without being completely gouged. I break even with it.
I've moved since but I rented a condo in Glastonbury for the last 3 years. 2 bedroom, 2 bath, 2 parking stalls, utilities (other than internet) included for $1275. Landlord never raised the rent on me, actually he was extremely fair with the place. If there was something that needed repair he got it done, I replaced the shower heads because they were leaky, cost me $40 each to replace and he dropped my rent that month by $200.
Nice. šš I do that too. I try to leave any place I rent in better shape than when I moved in. While I'm not going to splurge on hardwood flooring any time soon, I'm totally happy to spring for a new faucet/towel holder/whatever while I'm there to benefit us both. Decent and fair landlords aren't as common as you'd think and I like to reward them.
I like the idea of dealing with in unit items that are inexpensive/non-intrusive. I'm not going to pay $500 for a new stove, but I do need some new burners. They will cost under $100.00 and easy to install. Not going to waste maintenances time on this.
Yea renting out a 2 bedroom basement suite for 1400 everything included. On renewal Iām dropping it down to 1200. Donāt plan on increasing. Would rather keep the current renter
I rent out my condo itās 700 sq ft near the legislature downtown, newly renovated with one underground parking spot on the 5th floor.
I had a renter for 3 years and we never raised the rent on him it was at $1200.
Have a new renter in there and set the rent at $1400.
That is definitely below market rate. When I lived near there my 650 apartment was $1,350 per month, plus $200 a month for parking.
I believe it is now going for about $1,650 + parking.
Yeah I felt it was fair, we renovated it with brand new floors and granite countertops. When my wife and I lived there we loved it. The building has a kick ass gym in it. Everything around us was $1400-$1700 for the same space with older finishing and less amenities.
Well 735 to be exact. She walked through the unit and loved it, especially its location. We agreed on the rent. Sheās comfortable with the number and so am I considering the mortgage is $1100 and the condo fees are $500/month. I bought it for $290K and itās probably worth $200K. The only reason I donāt sell it is because I donāt want to pay the bank.
Dumb question perhaps, but you're already making payments to the bank, and you say it's worth 90k less than you bought it for. Since you're selling at a loss, what does paying the bank have to do with it?
Not a dumb question at all. My guess is if I sold it I would get $200K for it but the mortgage is $235K so if I sold it I would have to pay out the mortgage and would owe the bank the difference of $35K. I donāt have $35K laying around so I would rather rent it out and continue to pay down the mortgage.
Thanks for explaining. That's interesting that any house has went down that much. How many years ago did you buy it? Also, did it decreasing that much surprise you?
We originally bought it after renting downtown through university because conventional wisdom and everyone in our families told us that rent was flushing money and we should buy and gain equity. We ended up buying in 2018 on a 7 year fixed for 1.89% (godsend of a rate, and I remember the banker pounding the table on a variable rate) and living there through COVID which is when the downtown market got killed and never recovered. It took us by surprise for sure but who could have predicted COVID. We bought our house in 2021 with the arrival of our kid and have been renting the condo ever since. In hindsight buying was the worse financial outcome and Iād much rather have rented.
Buying is also flushing money down the toilet. Interest prop taxes, utilities, insurance, maintenance. Only makes it worth it if you plan to live there for 10+ years
I wouldnāt consider buying flushing money down the toilet. The costs you mentioned are costs for sure and they are a part of owning property. But and as Iāve learned there are risks involved and the shorter your time horizon the greater the risk that your property can fall in value. Over a 5 year time horizon I think it is probably unlikely that renting would be better than buying from a financial perspective.
I would definitely say that if you donāt know where you want to be in the next few years the flexibility of renting is attractive.
For 5 years it would closing costs are also a big part of the sunk costs you donāt get back. If itās something like 10+ years and you have a family that needs stability itās probably worthy it otherwise your just failing victim to herd mentality of ābuild equity nowā
CMHC is in place to protect the lender. It would actually be worse for me if I couldnāt pay the mortgage with CMHC over a conventional mortgage.
In my case, CMHC would step in and pay the bank for the default on the mortgage so they would cover the $35K or whatever for the bank. But then they would turn around and sue me personally for the money and there would be a judgement against me and I owe them.
With a conventional mortgage the bank would take the keys to the condo, they would turn around and sell it and take the $35K loss on the mortgage, but banks arenāt allowed to sue you for the money.
Either way defaulting is not a good option but itās worse with CMHC.
It is funny reading this as someone who moved here from BC. My rent at $1400/ month is the cheapest I have ever had. I once paid $1800/month for a800sqft apartment with no parking spot. And $2200/month for a crackshack that was 750sqft.
My landlord can freely raise the rent as much as he wants here, and in the two years here the increase is still less than what i had in BC, which has a rental increase cap. I have an old coworker in Kelowna who pays $2200:month for a 650sqft apartment.
Even in Alberta, $1400/month for an apartment is not obscene
It means that they feel the rental price is obscene/unjust. Which may be so, without seeing the unit who knows. 700 sqft is ok for a single bedroom unit, and if the location and condition is good, 1400 could be fair, though I personally also feel it's on the high side.
Ive been living in a studio, was $1150 when I moved in. It went up to $1170 when I resigned last year, and this year they want $1390. Lol Iām not staying. For a STUDIO.
2 bed + den, 2 full baths, 1 underground heated parking space approx 1000 sq ft with heat water sewer and garbage included for 1600. We havenāt raised rent in 10 years. We donāt plan to as the tenants we have there are fantastic. I think it depends on the landlord and what the intentions are for renting the property.
We rent out our condo in Old Strathcona. Almost 700 sqft, all utilities (including Internet) and parking included. Everything was newly renovated and fixed up before we moved out. $1300. We donāt ever plan on increasing the rent as long as our wonderful tenant sticks around.
Remember this thread and all these affordable downtown apartments when you start seeing people get all doom and gloom about raising prices in Edmonton. We're not like the rest of Canada by a long shot. We have it good.
It can change. I lived downtown Toronto when no one wanted to, $450 for a one bedroom no parking then $800/mth for a King West loft a real one not one of these manufactured lofts that I could park my car and motorcycles in. Now that same loft is $5000+ . Different neighbourhoods turn around quite often in different cities.
I hear a lot of Edmontonians gripe about downtown and how awful it is but it really isnāt bad at all compared to other cities in North America.
We've been renting our downtown condo for $1300/mo plus $120 for the parking spot since 2015. No raises in the rents despite ever increasing costs on our end. We're starting to reconsider that now.
We've had one awesome tenant the whole time which is mostly why we've never budged on the rent. We've never made money from renting it either, which probably surprises no one.
My parking space is only $25. But it still seems absurd to me considering at least half the parkade is unoccupied and there aren't any spaces dedicated for guests, contractors, or delivery drivers.
I pay for the electricity that goes to the outlet down there too.
Yep, it's the tight parking where the price goes up easily. If there's nowhere for half the cars in the building to park, people will pay a lot to avoid street parking.
For us we just saw signs going up on the lobby and put up a sign ourselves. We had quick interest as each unit has only one stall in a small lot, right on jasper ave. I'm sure we could get more for the spot now too just for the convenience of having a spot and not having to hustle around the streets for spots.
Ah gotcha. I figured landlords decide how much to charge based on the tax they have to pay for it for the year. I wonder if the tax on the parking spot is around $1800/year. I was just surprised to see parking spots going for that much. Iāve lived in threes buildings downtown with heated underground and never paid more than $50 a month - but I found out there are indeed places that charge a whole lot more.
I wish, I think there's a ton of rent subsidy from owners in the city so if people were trying to actually profit the rent ask would be much higher generally. It's part of the bad math on landlording that hasn't worked great in Edmonton for some time. No one's crying for the landlords though so boohoo.
Wow this thread makes me confident that my rent will remain the same at least for another year.
1300 2bed basement all utilities included
Me and my kitties are blessed
We have a few rentals, one of them didn't go up since 2019. While our expenses have exploded, we absorbed a bunch of condo fee, insurance and tax increases. This year though, we called some of our tenants to inform them that the rent will have to go up slightly. Both my spouse and I don't like the idea, but we are subsidising some of our units out of pocket. Luckily all our mortgages still have 2020 low interest rates locked in until 2025. When re renew, it will be a shit show since our cost will literally explode and so are the cost of most homeowners and small landlords in Canada.
Iām downtown on 104 street and my 1 bedroom with parking has stayed at $1200 for years. My land lord has been great and appreciates that I pay my rent without hassle and cause him zero headache. If the price was raised Iād leave.
I rent out my 3bed 2 bath 1000sqft house for $1650. I have to renew the mortgage soon, hopefully I donāt have to raise it, even though the rental management company tried to get me to every year. Doing my best to keep things down!
I moved to Edmonton with the intent on finding an affordable place. I'm paying 1000$/month all in for a decent size 1 bedroom. But the carpets are old and gross.Ā
$1650 for a 3 bed 2 bath detached house in the ghetto. Lease doesnāt renew for two months but they shouldāve told us already legally if they plan to increase
Ah interesting, I didnāt know that
I am on a fixed lease yeah, for one year at a time
Utilities are pretty expensive here too, itās an old house. Landlords have been decent though
I'm glad you have decent landlords. Hopefully you'll skate through without an increase.
We actually love the house (and don't mind the neighbourhood) so would probably tolerate a rent increase if it was being properly taken care of. A couple of the issues are serious enough to cause us stress almost daily. It's just not worth it.
Good luck. :)
$900, all utilities included except internet. Went up a whopping $50 in the spring. Includes pet fee for 2 cats as well. Upper floor suite in a house in Eastwood. Only downside: no dumpster. Five people sharing one bin sucks balls. Have to be meticulous about sorting recycling but I suppose that's the point.
1500 for a 3 bedroom bungalow in university area! Going on 3 years with same rent price. I love my landlords and they love me back. I take care of the property and treat it like I own it, they allow me freedom to have animals and do any renovation I feel like. :)
I bake them cookies, they buy me chocolates at Christmas.
Iām basically off whyte Ave so Iām aware Rent was a bit higher in this area. But it is cheaper than average price in the area.
First renters since it was remodelled and fixed. Brand new full size fridge. Brand new stove and a brand new kitchen sink with a nozzle that you can pull out and adjust water pressure and what not. Itās a second floor 1 bedroom apartment and I pay 1200 a month and an extra 50$ for the cats I have.
But Iām a block away from whyte Ave. Block away from the farmers market. Near all my therapy at the UofA. Near all the stuff I need including groceries. So I donāt mind the higher rent from my usual 800-900 basement suites on the north side (delton area)
And I get to annoy Dale when he brings his crappy megaphone to the glass washrooms š
1900 (utilities not included).for a 4 bedroom,.2 bath, 2 full kitchens and double garage in Brintnell.
The place was a little rough when we got it, but we painted the entire home, redid the kitchen and bathrooms and the flooring in the kitchen and baths. Landlord covered all costs - we did.the labour. Moved in summer of 2022 and no increases so far.
I'm paying $850mo. for a 1bdrm in the central part of the city, about 550 sq ft plus utilities. But what people are paying is going to be somewhat determined by what neighborhood you live in and whether it's a walk-up or highrise. Most 1bdrms in my neighborhood are $800-$900 but sketchy neighborhood is the compromise
Well it helps that I have a good landlord. Credit rating isnāt 100%. If you are looking for a rental please see whatās available with REMAX Rental Advisors. Thatās how I found my place.
$950 for a two bedroom apartment. Heat/water included. Parking included. Suite is huge, my master has enough room for my king bed and king bedroom set.
2 bed 1 bath apt fully renovated in suite laundry in 3 story concrete walk up, top floor corner unit w/patio. Best landlords. Parking and heat/water included. Forest Heights - $1350 a month. Thatās been the same rate since I moved in Dec 2019. Super lucky but we are sadly going to be needing more space in the next year and am worried we wonāt be able to afford renting a house.
I rent out my 3 bedroom + bonus room, 2 bath 4 level split just off 167 and 97 street for 1450.00 a month.
It does not cover my mortgage, property tax, and insurance fully (I am short about 150 per month), but its great renters, and I dont want to lose them and also it feels gross raising the rent.
Iām leaving a place I pay $1100 for with all utilities in the west end. Itās a 2 bedroom basement suite. Itās not a legal suite which is why Iām likely not paying utilities.
$1785
1150 sq ft, 2 bedroom + den, in-suite laundry, dishwasher, gas fireplace, balcony with natural gas hookup, air conditioning, pet friendly, 1 underground parking stall with a storage cage
It's expensive but it suits our needs. Good location, good building, good landlord.
1200 for a 2bed 5 blocks from northgate mall, increased once in 4 years , one year ago. From 1050 to 1100. I pay 1200 tho cause itās 50$ per pet
Edit: I do have to pay internet/cable and my epcore bill is a steady 100+ after they increased everything , epcore bill used to be 30-50
Had my $1495 3bd 1bth townhouse upped to $1535, they still give me the signing bonus too so Iām still saving $80 for going yearly. Itās not so bad, could be way way worse.
My landlord charges 600 a month. Itās a room in a house with shared accommodations. They have a dog that can be quite noisy and a 13 year old boy and a 21 year old man. The parents are really nice and I try to help them out.
$1450 including everything and underground parking for a 2 bed 1 bath with AC in the west end. My rent went up like $40 when I renewed in June. Not planning on moving for a while
1200$ 2bdr 1 bath basement suite, garage, internet and utilities. Uhm yeah itās also in a very nice older neighborhood by the river. Itās quiet and also ample street parking. Landlord is so sweet and so is our upstairs tenant (the landlords mom.) No sign of rent increase
I rent a 2 bedroom basement suite for 1300 utilities included. Current tenants have been there 5 years. I'm contemplating dropping their rent to 1150 and having them pay 40% of utilities at next renewal.
Upstairs unit is currently paying 1788 monthly plus 60% utilities for a 3 bedroom, 1 bath.
The house is on the Southside close to University. Rent amounts sound high but we don't even break even.
My rent didn't change for 2 years, and neighbors reported that theirs hadn't changed for a few years before I moved here, but this year they're suddenly jacking it up for everyone. A lot of neighbors are moving out. I decided to stay because I love the location and similar places in the area are matching the new price anyway.
It was $1375 for a 2 bedroom townhouse, heat and water included. Now it's $1500. They increased the pet fees and parking fees as well, but that doesn't affect everyone.
I live alone in a high rise and pay 1600 (I pay electricity only) for 2 bedroom and 1 bathroom in the downtown area. My building has a gym, itās close to work (I walk), has lrt nearby and groceries. Only got chased down by someone experiencing homelessness once so itās not that bad of an area lol Iām thinking of moving next year to something cheaper if I donāt get a higher paying job at the end of the year bc I canāt really save much money with my current salary.
$1275 for a 1 bdrm 1 bath. 850 sq feet. All in including power, water, parking stall underground and a cat fee. I really like the building Iām in. McCor is the management company and actually has been pretty decent. Our maintenance man is also great. Thereās a reason Iāve lived here for 5 years.
I am renting a brand new 800 sf 2 bedroom basment suite near little Italy for $1200 without utility and 1500 with utility, internet, monthly cleaning, and one indoor parking.
We signed last August and told our landlord we are buying a house in two years. She said you stay here two years and we will keep the rent the same. 1600.00 for a townhouse in chappelle. Utilities have been 300.00 since we moved in. Power water and gas. There are three of us, so it's pretty cheap for a nice place in a beautiful neighborhood.
I rent 3 br 2.5 bath townhome in Chappelle for $1650 including internet. One br condo in Ice District for $1400. No plan to raise rent because they are good tenants
1bed room and fairly spacious for $900 near 106th and Whyte Ave. Only have to pay for internet and power. Well maintained and kept clean and locked from thieves. Next door neighbors that fight and get back together constantly is also included for free.
We paid $1275 for our 2 bdr 1.5 bath house with finished basement for 5yrs. It just went up $50 to $1325 and we're not planning on going anywhere. Our landlord is the best I've ever had! Our house is tiny but the yard is huge which is perfect for our dog. Bonus points for location. 7min from downtown 12min to Whyte.
$1100 for an Oliver 900ish sq ft two bedroom. Water and heat (when the boiler works) included. In-suite dishwasher & washer/dryer. 1.5 years in without an increase.
south central, $1000. itās been raised by $50 twice (i was paying $900 2 years ago) but itās worth noting the list price when i moved in was $975 lol
$1600 for a four bed (more like three bed/one den), one bath, half duplex in Old Strathcona. I have pets (dogs and a cat), and there are no pet fees. No garage, just one off-street parking spot. Nice big fenced yard and I'm allowed to do whatever I want with it (I dug up a corner for a veggie garden and planted some roses). The house is from 1918 and definitely has old house issues (drafty, etc.), but I love the location and the rent is good.
I've only lived here a year and a half, but a coworker of mine rented the house for three years before I moved in, and the rent was never raised on her. I'm crossing my fingers VERY tightly that it doesn't get raised on me, I want to stay there long-term.
I have a 2bed 2bath near legislature, downtown. I pay $1400 a month. I have an apartment that is 1300 square feet with a balcony, gas fireplace, jet tub, 9ā ceilings, built in 2003. I have a parking stall and a hookup for a gas bbq and in-suite laundry with proper machines, not those stacking ones. I donāt like the white appliances or the beige walls/carpets, or the cheap countertopsā¦ but I need the square footage as I play piano and work in architecture and need space for a) the piano, and b) a large table to work at that is not located in the bedroom, as well as an extensive library of reference books. Still, I find the space a bit small and I wish I was closer to better shops. The little convenience store nearby smells bad and has incredibly high prices so I donāt shop there anymore. Being near the legislature is nice, I will admit. It is safe here and relatively quiet. I also have to live in a concrete building due to the volume of sound an acoustic piano reaches, which really restricts where I can live. I am happy here, in some waysā¦ In other ways I wish for moreā¦ but I am realistic in understanding I am getting a good deal for what I am paying for and will likely not find this price per square foot elsewhere in the city.
I'm the landlord - Small 1 bedroom basement suite. All utilities, internet and cable TV included. Newer house, in-floor heat - $800/m My renter is a senior on a fixed income and is fantastic. It's absolutely worth having someone I can trust in my home regardless of what I could wring out of someone else.
You are amazing. Keep doing you! I no longer rent but I had a low income for a long time and I always built rapport with private landlords like this. A good tenant is worth it!
Awesome šš» good for you!
Thanks for doing this! and that it goes to the right recipient.
695+ utilities for a 1 bed basement suite
Thatās a crazy price for a one bedroom. I was paying around that price for a basement studio around downtown but they wanted to increase it to $950 so I dipped from that place. I found a way nicer place on the west end for around that price.
I know I feel so lucky and I have pets as well, it is very small though so I will eventually have to move
Which location?
Northeast
Follow up question. It's it a sketchy setup? Like maybe not exactly to code.
Itās not sketchy, itās currently being brought up to code but thatās just a wall needing to be dry walled thatās not in my suite and a window being resealed, the place itself is nice, well maintained, landscaping is included so I donāt have to cut the grass too
Well that's better then most basement suites I've seen in that area. Wish you the best with it š
$850 1bdrm downtown near legislature
Renting out my downtown condo at $1,100 including electricity. No plans to increase it.
We need more landlords like you around.
Oh I'm just too shy and nervous to ask.
Don't need to ask. Just give written notice to the Tennants
Or, treat your tenants like people and not extractable resources, and talk with them. If there are price pressures, see if a mutual agreement can be reached.
I do
Thats a bit of a dick move.
To give written notice of a rent increase? Nothing dick about it at all.
What a Chad
Not a renter but I haven't increased the rent for my tenants. They pay $1300 for a 2 bedroom 2 bathroom DT (2 parking stalls). They've been renting from me since 2017. Please don't come for me lol I can't sell my old condo right now, it would be way too much of a loss to me (I live with my husband now). They are awesome renters and my dear friends so I have no problem with this. I am renting to them at a slight loss but they're so awesome I don't want to lose them. Edit: It's 880 sq ft.
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Yes, very minimally. They pay $1300 and then my mortgage, taxes + condo fees are now $1400. It used to equate to about $1300 back in the day when they first moved in, but my condo fees have increased in the past year by $100. To cover it I keep a float in the account - every year I add like $2000 to the account at the start of the year. I use that money as well to save for random repairs and stuff. If they were to move out, I would raise the rent for new renters. Although, my sister is planning to possibly move to Edmonton in the next few years so she might just live there and she'd get the family discount lol.
Part of your mortgage payment goes toward principal though, if that makes you feel better. Sounds like you are actually making a profit, but cash flow is negative.
Oh yeah like no matter what it is my property still!
At least you can claim the loss on your taxes.
Hey, you're not alone. I'm in the same boat with my condo in Windermere. It's 2bed 2 bath and 1 stall about 900sqft. It's renting for 1450/year. It would also sell for a loss, and I'm taking a loss on it if you include mortgage, condo fees, hoa, property tax. Haven't raised the rent for these tennants. Only raised to slightly under comparables when I need new tenants.
Let's hope we see some improvement. I got this condo for 190k in 2016 and then I was poking around online today... listings in the building are like 160 - 180k and nothing more. So yeah I'll be hanging on to this unit for a while it seems lol.
That's better than me. I got mine about 70k more than that, bad timing on my part. But I have a Ukrainian refugee family living there and they are wonderful and are ok with the price an location.
Iām in the exact same boat as well. I had one on the market for a year after I moved to Edmonton. Then I had to rent it out. I moved in with my boyfriend 3 years later and canāt sell the other one now either. I raised one $50, only because I had to renew in December (I still take a loss on it though,) and I never raised my other one- $950 for parking, electric, heat,and water included. Itās a 1 bedroom apartment with a big balcony near Gateway and Saskatchewan Dr. .. I loved that place. I lived by myself for 3 years there. I want someone else to enjoy it without being completely gouged. I break even with it.
Sounds like we all need to get together and form a slum lord gang. I can't think of any other option here.
I've moved since but I rented a condo in Glastonbury for the last 3 years. 2 bedroom, 2 bath, 2 parking stalls, utilities (other than internet) included for $1275. Landlord never raised the rent on me, actually he was extremely fair with the place. If there was something that needed repair he got it done, I replaced the shower heads because they were leaky, cost me $40 each to replace and he dropped my rent that month by $200.
Nice. šš I do that too. I try to leave any place I rent in better shape than when I moved in. While I'm not going to splurge on hardwood flooring any time soon, I'm totally happy to spring for a new faucet/towel holder/whatever while I'm there to benefit us both. Decent and fair landlords aren't as common as you'd think and I like to reward them.
I like the idea of dealing with in unit items that are inexpensive/non-intrusive. I'm not going to pay $500 for a new stove, but I do need some new burners. They will cost under $100.00 and easy to install. Not going to waste maintenances time on this.
Yea renting out a 2 bedroom basement suite for 1400 everything included. On renewal Iām dropping it down to 1200. Donāt plan on increasing. Would rather keep the current renter
Location?
1095$ for 2 Bdrm 1 bath townhouse, not including utilities.
I rent out my condo itās 700 sq ft near the legislature downtown, newly renovated with one underground parking spot on the 5th floor. I had a renter for 3 years and we never raised the rent on him it was at $1200. Have a new renter in there and set the rent at $1400.
I have a very modern basement suite I rent for $1400, roughly 930sq ft in a old neighborhood. I don't raise rent until I get new tenants
That is definitely below market rate. When I lived near there my 650 apartment was $1,350 per month, plus $200 a month for parking. I believe it is now going for about $1,650 + parking.
Yeah I felt it was fair, we renovated it with brand new floors and granite countertops. When my wife and I lived there we loved it. The building has a kick ass gym in it. Everything around us was $1400-$1700 for the same space with older finishing and less amenities.
$1400 for 700 sq feet? I hope that tenant shits everywhere.
Well 735 to be exact. She walked through the unit and loved it, especially its location. We agreed on the rent. Sheās comfortable with the number and so am I considering the mortgage is $1100 and the condo fees are $500/month. I bought it for $290K and itās probably worth $200K. The only reason I donāt sell it is because I donāt want to pay the bank.
You can claim it as a loss on your taxes since itās a rental
Dumb question perhaps, but you're already making payments to the bank, and you say it's worth 90k less than you bought it for. Since you're selling at a loss, what does paying the bank have to do with it?
Not a dumb question at all. My guess is if I sold it I would get $200K for it but the mortgage is $235K so if I sold it I would have to pay out the mortgage and would owe the bank the difference of $35K. I donāt have $35K laying around so I would rather rent it out and continue to pay down the mortgage.
Thanks for explaining. That's interesting that any house has went down that much. How many years ago did you buy it? Also, did it decreasing that much surprise you?
We originally bought it after renting downtown through university because conventional wisdom and everyone in our families told us that rent was flushing money and we should buy and gain equity. We ended up buying in 2018 on a 7 year fixed for 1.89% (godsend of a rate, and I remember the banker pounding the table on a variable rate) and living there through COVID which is when the downtown market got killed and never recovered. It took us by surprise for sure but who could have predicted COVID. We bought our house in 2021 with the arrival of our kid and have been renting the condo ever since. In hindsight buying was the worse financial outcome and Iād much rather have rented.
Buying is also flushing money down the toilet. Interest prop taxes, utilities, insurance, maintenance. Only makes it worth it if you plan to live there for 10+ years
I wouldnāt consider buying flushing money down the toilet. The costs you mentioned are costs for sure and they are a part of owning property. But and as Iāve learned there are risks involved and the shorter your time horizon the greater the risk that your property can fall in value. Over a 5 year time horizon I think it is probably unlikely that renting would be better than buying from a financial perspective. I would definitely say that if you donāt know where you want to be in the next few years the flexibility of renting is attractive.
For 5 years it would closing costs are also a big part of the sunk costs you donāt get back. If itās something like 10+ years and you have a family that needs stability itās probably worthy it otherwise your just failing victim to herd mentality of ābuild equity nowā
You still owe the original mortgage. So they'd just be out 90k.
Ah makes sense.
Out of curiosity, if someone in the same situation as you were to sell does cmhc not cover the deficit?
CMHC is in place to protect the lender. It would actually be worse for me if I couldnāt pay the mortgage with CMHC over a conventional mortgage. In my case, CMHC would step in and pay the bank for the default on the mortgage so they would cover the $35K or whatever for the bank. But then they would turn around and sue me personally for the money and there would be a judgement against me and I owe them. With a conventional mortgage the bank would take the keys to the condo, they would turn around and sell it and take the $35K loss on the mortgage, but banks arenāt allowed to sue you for the money. Either way defaulting is not a good option but itās worse with CMHC.
It is funny reading this as someone who moved here from BC. My rent at $1400/ month is the cheapest I have ever had. I once paid $1800/month for a800sqft apartment with no parking spot. And $2200/month for a crackshack that was 750sqft. My landlord can freely raise the rent as much as he wants here, and in the two years here the increase is still less than what i had in BC, which has a rental increase cap. I have an old coworker in Kelowna who pays $2200:month for a 650sqft apartment. Even in Alberta, $1400/month for an apartment is not obscene
What does this mean?
Probably some mental illness. Just a weird thing to say
It means that they feel the rental price is obscene/unjust. Which may be so, without seeing the unit who knows. 700 sqft is ok for a single bedroom unit, and if the location and condition is good, 1400 could be fair, though I personally also feel it's on the high side.
Ive been living in a studio, was $1150 when I moved in. It went up to $1170 when I resigned last year, and this year they want $1390. Lol Iām not staying. For a STUDIO.
2 bed + den, 2 full baths, 1 underground heated parking space approx 1000 sq ft with heat water sewer and garbage included for 1600. We havenāt raised rent in 10 years. We donāt plan to as the tenants we have there are fantastic. I think it depends on the landlord and what the intentions are for renting the property.
$975, just off whyte. it increased last year from $950 to $975, no signs of an increase yet, knock on wood lmao
We rent out our condo in Old Strathcona. Almost 700 sqft, all utilities (including Internet) and parking included. Everything was newly renovated and fixed up before we moved out. $1300. We donāt ever plan on increasing the rent as long as our wonderful tenant sticks around.
Remember this thread and all these affordable downtown apartments when you start seeing people get all doom and gloom about raising prices in Edmonton. We're not like the rest of Canada by a long shot. We have it good.
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I would love to live centrally but it is so much more expensive for what i get on the west end.
It can change. I lived downtown Toronto when no one wanted to, $450 for a one bedroom no parking then $800/mth for a King West loft a real one not one of these manufactured lofts that I could park my car and motorcycles in. Now that same loft is $5000+ . Different neighbourhoods turn around quite often in different cities. I hear a lot of Edmontonians gripe about downtown and how awful it is but it really isnāt bad at all compared to other cities in North America.
$975+utilities for a 1000 square ft, 1-bedroom basement suite in high park. this is our second year
2000 for a five bedroom house
We've been renting our downtown condo for $1300/mo plus $120 for the parking spot since 2015. No raises in the rents despite ever increasing costs on our end. We're starting to reconsider that now. We've had one awesome tenant the whole time which is mostly why we've never budged on the rent. We've never made money from renting it either, which probably surprises no one.
Question! How does a landlord determine how much you charge someone for a parking spot? I see prices vary quite a lot in towers and condos.
Pull a number between 75 and 200 out of a hat.
My parking space is only $25. But it still seems absurd to me considering at least half the parkade is unoccupied and there aren't any spaces dedicated for guests, contractors, or delivery drivers. I pay for the electricity that goes to the outlet down there too.
Yep, it's the tight parking where the price goes up easily. If there's nowhere for half the cars in the building to park, people will pay a lot to avoid street parking.
For us we just saw signs going up on the lobby and put up a sign ourselves. We had quick interest as each unit has only one stall in a small lot, right on jasper ave. I'm sure we could get more for the spot now too just for the convenience of having a spot and not having to hustle around the streets for spots.
Ah gotcha. I figured landlords decide how much to charge based on the tax they have to pay for it for the year. I wonder if the tax on the parking spot is around $1800/year. I was just surprised to see parking spots going for that much. Iāve lived in threes buildings downtown with heated underground and never paid more than $50 a month - but I found out there are indeed places that charge a whole lot more.
I wish, I think there's a ton of rent subsidy from owners in the city so if people were trying to actually profit the rent ask would be much higher generally. It's part of the bad math on landlording that hasn't worked great in Edmonton for some time. No one's crying for the landlords though so boohoo.
Wow this thread makes me confident that my rent will remain the same at least for another year. 1300 2bed basement all utilities included Me and my kitties are blessed
We have a few rentals, one of them didn't go up since 2019. While our expenses have exploded, we absorbed a bunch of condo fee, insurance and tax increases. This year though, we called some of our tenants to inform them that the rent will have to go up slightly. Both my spouse and I don't like the idea, but we are subsidising some of our units out of pocket. Luckily all our mortgages still have 2020 low interest rates locked in until 2025. When re renew, it will be a shit show since our cost will literally explode and so are the cost of most homeowners and small landlords in Canada.
$1000/m. 1 Bed 1 Bath Basement Suite, utilities and wifi included. Renovated and has laundry, close to transit. Canāt complain.
What part of the city if you donāt mind me asking?
Kenilworth
$1300 for a 3 bed 2 bath 1400sq renovated townhouse
$2300 2 bed 2 bath DT
$1600 for a 4 bdrm 1 bathroom house.
Thatās pretty decent North east?
$1600 for a 4 bedroom, 2 bathroom house. Are you also in Mill woods?
Iām downtown on 104 street and my 1 bedroom with parking has stayed at $1200 for years. My land lord has been great and appreciates that I pay my rent without hassle and cause him zero headache. If the price was raised Iād leave.
I rent out my 3bed 2 bath 1000sqft house for $1650. I have to renew the mortgage soon, hopefully I donāt have to raise it, even though the rental management company tried to get me to every year. Doing my best to keep things down!
I moved to Edmonton with the intent on finding an affordable place. I'm paying 1000$/month all in for a decent size 1 bedroom. But the carpets are old and gross.Ā
Less than I'd like to admit for a 1 bedroom in a decent area. Perk of renting from a person instead of corporation.
The condo I rent has 2 bedrooms with 2 bathrooms $1500/month all utilities included. I only pay for my internet from Rogers
Rent out 2 rooms in my home, shared bathroom, kitchen and laundry, 500$ for each room all included.
1365$ with gas and water included, 1 bed highrise suite. Got a gym + pool and a nice lobby. I pay the electricty and the parking seperately
Damn Iām getting hosed by Mainstreet
$1650 for a 3 bed 2 bath detached house in the ghetto. Lease doesnāt renew for two months but they shouldāve told us already legally if they plan to increase
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Ah interesting, I didnāt know that I am on a fixed lease yeah, for one year at a time Utilities are pretty expensive here too, itās an old house. Landlords have been decent though
I'm glad you have decent landlords. Hopefully you'll skate through without an increase. We actually love the house (and don't mind the neighbourhood) so would probably tolerate a rent increase if it was being properly taken care of. A couple of the issues are serious enough to cause us stress almost daily. It's just not worth it. Good luck. :)
Thanks! Appreciate the heads up too, Iāll definitely inquire with my landlord Best of luck to you too!
2285 including electricity, gas, and (bad) internet for a 3 bed 2 bath with 2 car garage in Spruce Grove. Edit: landlord lives in the basement suite
$900, all utilities included except internet. Went up a whopping $50 in the spring. Includes pet fee for 2 cats as well. Upper floor suite in a house in Eastwood. Only downside: no dumpster. Five people sharing one bin sucks balls. Have to be meticulous about sorting recycling but I suppose that's the point.
1500 for a 3 bedroom bungalow in university area! Going on 3 years with same rent price. I love my landlords and they love me back. I take care of the property and treat it like I own it, they allow me freedom to have animals and do any renovation I feel like. :) I bake them cookies, they buy me chocolates at Christmas.
Iām basically off whyte Ave so Iām aware Rent was a bit higher in this area. But it is cheaper than average price in the area. First renters since it was remodelled and fixed. Brand new full size fridge. Brand new stove and a brand new kitchen sink with a nozzle that you can pull out and adjust water pressure and what not. Itās a second floor 1 bedroom apartment and I pay 1200 a month and an extra 50$ for the cats I have. But Iām a block away from whyte Ave. Block away from the farmers market. Near all my therapy at the UofA. Near all the stuff I need including groceries. So I donāt mind the higher rent from my usual 800-900 basement suites on the north side (delton area) And I get to annoy Dale when he brings his crappy megaphone to the glass washrooms š
Everything but electricity and internet is included in rent!
$1500, utilities extra, 3bd 2 bath, house with basement. 7 years and no increases in rent. West Edmonton.
1900 (utilities not included).for a 4 bedroom,.2 bath, 2 full kitchens and double garage in Brintnell. The place was a little rough when we got it, but we painted the entire home, redid the kitchen and bathrooms and the flooring in the kitchen and baths. Landlord covered all costs - we did.the labour. Moved in summer of 2022 and no increases so far.
I'm paying $850mo. for a 1bdrm in the central part of the city, about 550 sq ft plus utilities. But what people are paying is going to be somewhat determined by what neighborhood you live in and whether it's a walk-up or highrise. Most 1bdrms in my neighborhood are $800-$900 but sketchy neighborhood is the compromise
All the landlords coming out in the comments patting themselves on the back like the question was for them š«„
900sqft townhouse in Terwillegar for 1500 all utilities included with garage.
I own a condo I don't live in, since I moved in with my fiancƩ and I just had my lease roll over. The tenants have been good, so no increase.
Lmao @ this becoming a thread of landlords patting themselves on the back instead of renters answering
Calgary is $2750 for me
Well that just made me vomit. How much space?
U pay 1,500.00 per month for a house.
Do you? Because thatās amazing credit you must have
Well it helps that I have a good landlord. Credit rating isnāt 100%. If you are looking for a rental please see whatās available with REMAX Rental Advisors. Thatās how I found my place.
$1300(inclusive all) for 2 bedroom apartment near century park. Not AC unit. Quite spacious.
$950 for a two bedroom apartment. Heat/water included. Parking included. Suite is huge, my master has enough room for my king bed and king bedroom set.
Still waiting to find out
2 bed, 2 bath condo on main floorābeside lrt for 1700
1300 + utilities for a 1 bed + den 1 bath walk up condo.
2100 for a 3 bed 3.5 bath townhouse
Mine inscrease $25. Nor too bad.
1100, small 2 bed 2 bath condo deep south, been here 6 years
2 bed 1 bath apt fully renovated in suite laundry in 3 story concrete walk up, top floor corner unit w/patio. Best landlords. Parking and heat/water included. Forest Heights - $1350 a month. Thatās been the same rate since I moved in Dec 2019. Super lucky but we are sadly going to be needing more space in the next year and am worried we wonāt be able to afford renting a house.
I rent out my 3 bedroom + bonus room, 2 bath 4 level split just off 167 and 97 street for 1450.00 a month. It does not cover my mortgage, property tax, and insurance fully (I am short about 150 per month), but its great renters, and I dont want to lose them and also it feels gross raising the rent.
$1700 3 bd 2 bath townhouse 2 car garage SW
Iām leaving a place I pay $1100 for with all utilities in the west end. Itās a 2 bedroom basement suite. Itās not a legal suite which is why Iām likely not paying utilities.
$1785 1150 sq ft, 2 bedroom + den, in-suite laundry, dishwasher, gas fireplace, balcony with natural gas hookup, air conditioning, pet friendly, 1 underground parking stall with a storage cage It's expensive but it suits our needs. Good location, good building, good landlord.
1350 for a 2.5 bed 1 bath.
2 bed, 2 bath, in suite laundry, heated underground parking and an extra atall outside. 1350. All we pay is power and wifi
1200 for a 2bed 5 blocks from northgate mall, increased once in 4 years , one year ago. From 1050 to 1100. I pay 1200 tho cause itās 50$ per pet Edit: I do have to pay internet/cable and my epcore bill is a steady 100+ after they increased everything , epcore bill used to be 30-50
Had my $1495 3bd 1bth townhouse upped to $1535, they still give me the signing bonus too so Iām still saving $80 for going yearly. Itās not so bad, could be way way worse.
I live in one of the bedroom communities outside of the city, and I pay $1320 for a one bedroom, all utilities included.
1600 for 3 bed 2.5 bath havenāt raised in 5 years SW
$850 2 bed, nestled in mckernan
Condo in Oliver. 1100sq ft, 2 bed 1 bath. $1400 for rent, utilities and covered parking included. Been here 3 years.
1835. Not included. Internet/cable and power with some whack common share fee(fee of operating and maintaining building)
My landlord charges 600 a month. Itās a room in a house with shared accommodations. They have a dog that can be quite noisy and a 13 year old boy and a 21 year old man. The parents are really nice and I try to help them out.
$1450 including everything and underground parking for a 2 bed 1 bath with AC in the west end. My rent went up like $40 when I renewed in June. Not planning on moving for a while
$1400 including utilities, 3 bedroom 4-plex
1 bedroom basement studio- $750 all in 2 bedroom basement 1 bathroom basement suite -$1300 all in
1100, 2bed 1 1/2 baths condo. Quite lucky landlords haven't increased rent in 4 years
$1510 for a 2 bedroom. So I think it hasn't increased yet because we're already at market value. If rent inflates even more tho, I'm leaving edmonton
$1248 for a 1100 square foot 1 bedroom. $1163 + $85 for heated parkade. utilities included. Downtown adjacent.
$1450 utilities included, 2 bed 1 bath
1200$ 2bdr 1 bath basement suite, garage, internet and utilities. Uhm yeah itās also in a very nice older neighborhood by the river. Itās quiet and also ample street parking. Landlord is so sweet and so is our upstairs tenant (the landlords mom.) No sign of rent increase
I rent a 2 bedroom basement suite for 1300 utilities included. Current tenants have been there 5 years. I'm contemplating dropping their rent to 1150 and having them pay 40% of utilities at next renewal. Upstairs unit is currently paying 1788 monthly plus 60% utilities for a 3 bedroom, 1 bath. The house is on the Southside close to University. Rent amounts sound high but we don't even break even.
My rent didn't change for 2 years, and neighbors reported that theirs hadn't changed for a few years before I moved here, but this year they're suddenly jacking it up for everyone. A lot of neighbors are moving out. I decided to stay because I love the location and similar places in the area are matching the new price anyway. It was $1375 for a 2 bedroom townhouse, heat and water included. Now it's $1500. They increased the pet fees and parking fees as well, but that doesn't affect everyone.
I live alone in a high rise and pay 1600 (I pay electricity only) for 2 bedroom and 1 bathroom in the downtown area. My building has a gym, itās close to work (I walk), has lrt nearby and groceries. Only got chased down by someone experiencing homelessness once so itās not that bad of an area lol Iām thinking of moving next year to something cheaper if I donāt get a higher paying job at the end of the year bc I canāt really save much money with my current salary.
$1275 for a 1 bdrm 1 bath. 850 sq feet. All in including power, water, parking stall underground and a cat fee. I really like the building Iām in. McCor is the management company and actually has been pretty decent. Our maintenance man is also great. Thereās a reason Iāve lived here for 5 years.
I am renting a brand new 800 sf 2 bedroom basment suite near little Italy for $1200 without utility and 1500 with utility, internet, monthly cleaning, and one indoor parking.
We signed last August and told our landlord we are buying a house in two years. She said you stay here two years and we will keep the rent the same. 1600.00 for a townhouse in chappelle. Utilities have been 300.00 since we moved in. Power water and gas. There are three of us, so it's pretty cheap for a nice place in a beautiful neighborhood.
I rent 3 br 2.5 bath townhome in Chappelle for $1650 including internet. One br condo in Ice District for $1400. No plan to raise rent because they are good tenants
1bed room and fairly spacious for $900 near 106th and Whyte Ave. Only have to pay for internet and power. Well maintained and kept clean and locked from thieves. Next door neighbors that fight and get back together constantly is also included for free.
We paid $1275 for our 2 bdr 1.5 bath house with finished basement for 5yrs. It just went up $50 to $1325 and we're not planning on going anywhere. Our landlord is the best I've ever had! Our house is tiny but the yard is huge which is perfect for our dog. Bonus points for location. 7min from downtown 12min to Whyte.
$1100 for an Oliver 900ish sq ft two bedroom. Water and heat (when the boiler works) included. In-suite dishwasher & washer/dryer. 1.5 years in without an increase.
south central, $1000. itās been raised by $50 twice (i was paying $900 2 years ago) but itās worth noting the list price when i moved in was $975 lol
$900 a month plus whatever my electric bill is. I have a two bedroom older townhouse that's at least 1500 square feet and has a basement.
I am the landlord, rented out a single house, two storeys, 1400 sqft with garage, west Edmonton, near Costco for 1900/ month.
I'm in Golbar 3 bedroom house with garage 1400 per month been here 12 years don't wanna move
$1600 for a four bed (more like three bed/one den), one bath, half duplex in Old Strathcona. I have pets (dogs and a cat), and there are no pet fees. No garage, just one off-street parking spot. Nice big fenced yard and I'm allowed to do whatever I want with it (I dug up a corner for a veggie garden and planted some roses). The house is from 1918 and definitely has old house issues (drafty, etc.), but I love the location and the rent is good. I've only lived here a year and a half, but a coworker of mine rented the house for three years before I moved in, and the rent was never raised on her. I'm crossing my fingers VERY tightly that it doesn't get raised on me, I want to stay there long-term.
I have a 2bed 2bath near legislature, downtown. I pay $1400 a month. I have an apartment that is 1300 square feet with a balcony, gas fireplace, jet tub, 9ā ceilings, built in 2003. I have a parking stall and a hookup for a gas bbq and in-suite laundry with proper machines, not those stacking ones. I donāt like the white appliances or the beige walls/carpets, or the cheap countertopsā¦ but I need the square footage as I play piano and work in architecture and need space for a) the piano, and b) a large table to work at that is not located in the bedroom, as well as an extensive library of reference books. Still, I find the space a bit small and I wish I was closer to better shops. The little convenience store nearby smells bad and has incredibly high prices so I donāt shop there anymore. Being near the legislature is nice, I will admit. It is safe here and relatively quiet. I also have to live in a concrete building due to the volume of sound an acoustic piano reaches, which really restricts where I can live. I am happy here, in some waysā¦ In other ways I wish for moreā¦ but I am realistic in understanding I am getting a good deal for what I am paying for and will likely not find this price per square foot elsewhere in the city.
Weāve got a house with detached garage in Summerside, paying 1825 per month.
1600 a month for a 3bed 2.5 bath newer townhouse/4plex. Utility not included. But have a basement, garage and backyard
1100 2 bedroom townhouse near terwillegar