There are many Vancouver rental penthouses in the downtown core. There are less suitable VIP long term renters. Vancouver apartment vacancies are less common among the lower end Yaletown furnished apartment segment of the market versus the more luxurious Coal Harbour furnished apartment market, Downtown sub-penthouse rental apartments or unfurnished or furnished Vancouver penthouses for rent. When you are considering how to market a luxury Vancouver furnished condo you need to factor the apartment vacancy percentage when you are calculating return on investment (ROI.)
A Shangri-la penthouse for rent, Fairmont Pacific rental condo or a luxury Harbour Green furnished apartment might generate $15- $20,000 of monthly rent but if there’s gaps between vacancies then your annual revenues might be less then a $13,000 one year term unfurnished client would generate. A nice $10,000 monthly rent property will have MANY more inquires than a nice $15,000 property and when you cross the $20,000 threshold you are working with a very select group of tenants. This select group of tenants are often looking for a short term furnished option so vacancies are a realistic possibility.There are always special circumstances to consider like when the owner has the ability to move back in the home between vacancies or other factors but when you are dealing with luxury Vancouver rental penthouses or some of the larger furnished rental apartments you need to estimate the annual ROI versus only considering the monthly income.
Orca Realty Inc.
Unit 204 – 2438 Marine Dr. West Vancouver, BC, V7V 1L2 Canada