In a sign of just how tight Vancouver’s rental market is getting, one Vancouver landlord is listing a two bedroom “garden/ground level suite” in Kitsilano for $3850 / mo.
“Location! Location! Location!” reads the ad for the “stunning and spacious 2 bedrooms + den” on 2nd Avenue, noting the suite is blocks from the beach and minutes from UBC and downtown.
Potential renters would take advantage of “lots of natural light, a large kitchen, separate dining room and wonderful neighbors/residents above.”
The 1000 square foot suite has also been newly renovated to “condo quality,” including quartz counters, natural gas, heated tile floors, and “Full-size, house-sized appliances!”
The suite also includes a rare luxury for renters in the city: some pets are allowed.
The listing comes as many predict a squeeze on the city’s renters, with the Canada Mortgage and Housing Corporation estimating a vacancy rate of just 0.6% in the city.
Earlier in the year, the rental apartment-focused Goodman Report warned of rents jumping by 20% or more at unit turnover.
Reached by email, the post’s author – who did not give their name, but is listing at least one other suite on the site – claims “the ad is not intended as an ad per-se, the suite doesn’t exist.”
They write that the shortage of rental housing in the city is a product of under-resourcing in the city’s permit department.