Free rent offered as move-in incentive at these Vancouver apartments
Vancouver continues to be one of the country’s most notoriously expensive cities to rent in, but several buildings are offering rarely seen move-in incentives to entice potential tenants during the coronavirus pandemic.
Rentals.ca has highlighted a few properties offering exciting things such as a free month’s rent when new tenants sign a lease.
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“Rents are still really high. There’s still a big vacancy issue there,” Rentals.ca CEO Matt Danison told Daily Hive Urbanized in an interview, adding the pandemic slowed down construction on new rental housing.
But the pandemic also means the city may not see as many students return in the fall for in-person classes, which could affect landlords catering to student housing.
According to rentals.ca data, the average rent for a one-bedroom apartment in Vancouver is $1,987 — 1.8% lower than it was at this time last year.
Overall, the decrease in rental prices is affecting the priciest units the most, according to rentals.ca. People looking for homes at lower price points are still facing similar rental costs, for the most part.
Danison said, “We are seeing incentives out there,” although Vancouver landlords aren’t offering as much compared to those in Toronto or Calgary.
The pandemic has also made things like virtual showings via Facetime more popular. Danison thinks those could be here to stay, and tenants could use them to narrow down properties to a shortlist they go see in person.
If you’re looking for a new place to live, rentals.ca says these locations are offering move-in incentives right now:
1005 Jervis Street
1005 Jervis Street (Rentals.ca)
This building in the West End is offering one free month of rent. Units start at $2,030 for a one-bedroom apartment.
1477 Continental Street
1477 Continental Street (Rentals.ca)
For all two-bedroom apartment leases signed before July 31, this building is offering four months of reduced rent.
990 Broughton Street
990 Broughton Street (Rentals.ca)
This building is offering one month of free rent right now. Units start at $1,590 for a studio.
1166 Melville Street
1166 Melville Street (Rentals.ca)
This building is offering the first six months of a one-year lease at a slightly reduced rate. For example, an unfurnished two-bedroom would cost $2,800 for the first six months before moving up to $3,200 per month.
1770 Pendrell Street
1770 Pendrell Street (Rentals.ca)
This building has some pricy units, but if you sign a lease before July 31 you can get the first four months at a reduced rate. Prices start at $2,425 per month for a one-bedroom.
Peter Manor
Peter Manor (Rentals.ca)
This building on Haro Street is offering one month of free rent for select apartments. One-bedroom units start at $2,099.
1100 Harwood Street
1100 Harwood Street (Rentals.ca)
This spot is offering $500 gift cards and early move-in dates to those who sign leases soon. Units start at $2,125.
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