While Montreal continues to be a moderately expensive city to live in, the COVID-19 pandemic has resulted in more rental units becoming available in the market.
And with lack of jobs, along with short-term rentals going back into the market due to lack of tourism, Rentals.ca has highlighted some properties in and around Montreal offering move-in incentives like free month’s rent.
“The national average dropped again in June for all property types, but when isolating just rental apartments, which typically make up about 55% of the listings on Rentals.ca, the average rent bounced back sharply in June, rising 6.7% monthly to $1,564 from May,” says the rental.ca report.
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The team at Rentals.ca told Daily Hive that many things are at play here. “Renters are being cautious in moving because of the pandemic and uncertainty with their jobs and the economy. Also, there are more units available for a variety of reasons. One is that we are seeing more furnished units on the market because some short-term rentals are being converted to long-term rentals.”
On a quarterly basis, rent increased in Quebec along with in British Columbia and Saskatchewan, while Alberta, Manitoba, and Ontario all experienced decreases between the first and second quarters of 2020.
If you’re in the market for a new spot, here are some Montreal rental units offering incentives, according to rentals.ca:
Rent now and receive two months of free rent.
Lease with Le Demetrius now and get two months of free rent.
Sign an August lease and get $2550 cash upon signing.
Renters can get one month of free rent at the Pavillon Hutchison.
Parkhaven has six units available each varying with one to three bedrooms. Owners are offering one month of free rent.
LaCité Apartments is offering one month of free rent on select suites with a 12-month lease signing.
This 74-unit apartment building is offering one month of free rent.
Move in before August 1 and get one month of free rent.
This multi-unit building is offering one month of free rent.
Sign an August lease and get $2100 cash upon signing.