As affordability challenges continue and more Calgarians turn to renting, the rental market is undergoing big changes. Two main options dominate the landscape — purpose-built rentals and condo rentals. Each has unique advantages and drawbacks, and both are shaping the future of Calgary’s housing market.
Purpose-Built Rentals
Purpose-built rentals are designed from the ground up for tenants and are owned by developers or property companies. They’re professionally managed and often include on-site staff and modern amenities.
Advantages:
- Tenant stability with less risk of eviction due to a sale.
- Professional management ensures timely maintenance.
- Modern buildings often include gyms, coworking areas, and pet-friendly spaces.
Considerations:
- Limited supply compared to condo rentals.
- Newer developments with more amenities may come with higher rent.
For renters seeking stability and professional management, purpose-built rentals are a solid choice, though availability in Calgary is still catching up to demand.
Condos as Rentals
Condo rentals are privately owned units leased out by individual landlords. They make up a large share of Calgary’s downtown and suburban rental stock.
Advantages:
- Wide variety in size, style, and price points.
- Available across more neighborhoods than purpose-built rentals.
- Can sometimes offer lower rent depending on the landlord’s costs.
Considerations:
- Stability depends on the owner — units may be sold with short notice.
- Maintenance and service quality vary by landlord.
- Rent may reflect condo fees, which landlords often pass along.
Condos provide flexibility and choice, but tenants should carefully review lease terms to avoid surprises.
Calgary Rental Market Outlook
Calgary’s vacancy rate remains tight at around 2–3%, keeping pressure on renters. Developers are introducing more purpose-built rentals, particularly in central communities, while condos continue to be a favorite among small investors.
The future likely includes a mix of both — with purpose-built rentals offering stability and amenities, while condos provide variety and flexibility for renters.
Final Thoughts
For renters, the choice between a purpose-built rental and a condo will depend on priorities like stability, location, and budget. For investors, both options remain relevant as Calgary’s population grows and housing demand rises.
Posted by Ray Yang on
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