North Vancouver Home Owners – Joining the rental market

  • 7 years ago
  • 1

North Vancouver home owners are fast becoming a part of the ever growing Renters Club. Whether it’s due to foreclosures or not being able to keep up their ever expanding mortgages, home owners are having to jump into the rental market. As hard to find vacancies are dwindling and property rents are doubling we are neck deep in a housing crisis situation. North Vancouver home renters are well educated into the fight for a good property to rent in a decent area for a fair price. Many rental candidates are shown the same property in assembly line fashion with several couples viewing it at the same time. The days are gone when your rent is 25% of your monthly income as one in four rental properties absorb between 35 and 45% of your monthly paychecks between the rent and utilities. North Shore Property Managers have noticed the shortage of rental units for some time now and the situation in only getting worse. Many young families are being forced out of the Vancouver areas when buying their first home. Suddenly Port Moody and further has become a hotspot to buy. While you may miss the charm of North Vancouver’s convenient urban lifestyle you can always find a parking spot in downtown Mission.

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