CALGARY RENTAL TRENDS MAY 2018

The Calgary rental market saw continued softness in May 2018, with average apartment rents falling noticeably from the previous year. According to recent data, the average rent for an apartment in Calgary dropped by 18.04% year-over-year, settling at $1,125. This marks a 1.42% decrease from April 2018, when average rent stood at $1,141.

This continued dip in rental prices reflects the broader trends we've seen in Calgary’s real estate market over the past couple of years. Slower economic recovery, an oversupply of rental units, and shifting demand patterns are all contributing to this decline.

What’s Driving the Downward Trend?

A few key factors are shaping Calgary’s rental landscape in 2018:

• High Inventory Levels: Many landlords, including those who transitioned from homeownership during the economic downturn, have added to the pool of available rental properties, pushing supply ahead of demand.

• Economic Conditions: Though Calgary’s economy is showing signs of recovery, job growth remains cautious. This uncertainty affects renters' ability to commit to higher rents, especially in premium areas.

• Migration Patterns: A slower pace of interprovincial migration to Alberta compared to earlier years has also tempered the demand for rental housing.

  
  

  Good News for Renters

  While this may be challenging for property owners, renters are benefiting from more choices and better deals across the city. From downtown condos to suburban homes, tenants are in a stronger position to negotiate rent or find properties with added perks such as utilities included, flexible lease terms, or reduced security deposits.

How LeaseWell Helps Landlords in a Soft Market

At LeaseWell, we understand how tough it can be to maintain profitability when rents are down. That’s why we’re committed to helping landlords maximize returns—even in a challenging market.

Our property management services are designed to ease the burden on owners and enhance the experience for tenants, which can lead to longer tenancies and reduced vacancy periods. From professional property marketing and photography to coordinating repairs and handling resident communication, our team supports you every step of the way.

We also offer 24/7 online service requests, preventative maintenance scheduling, and routine utility payment handling, ensuring your property is always in great condition and your tenants are well cared for.

Market Outlook

While current trends might seem discouraging, the rental market is cyclical. Landlords who stay ahead by maintaining their properties well and offering superior tenant services can weather the downturn and be positioned strongly when the market rebounds.

Whether you’re a tenant looking for a great place to live or a landlord trying to navigate Calgary’s shifting rental landscape, LeaseWell is here to help.