The Rise of Real Estate Property Management: Trends in Calgary’s Rental Market

Welcome to the evolving world of Calgary’s rental market—where property rental companies play a pivotal role. 

With the city’s growth accelerating, rental property management in Calgary is becoming increasingly essential as it optimizes investments and enhances tenant experiences.  

Let’s explore the current rental trends and how the insights and services of rental property management companies in Calgary can help property owners navigate the market with confidence. Whether you’re seeking the best place to buy rental property in Calgary or looking to streamline your portfolio, understanding these trends is key to maximizing your investment potential.

Keep reading to discover the ultimate guide of Emerald Management—one of the leading property rental companies in Calgary. 

Table of Contents | The Rise of Real Estate Property Management: Trends in Calgary’s Rental Market 

• Rental Market Trends and How to Navigate Them with Property Rental Companies in Calgary

• Investment Surge in Calgary’s Rental Market
• Significant Commercial Real Estate Investment 
• Multi-Residential Property Investment Boom
• Recent Trends in Rental Prices
• Slight Decrease in Rental Prices
• Current Rental Prices by Unit Type
• Tightening Vacancy Rates
• Supply and Demand Dynamics 
• National Increase in Asking Rents
• Demand for Rental Assistance

• What’s the Best Place to Buy Rental Property in Calgary?

• Beltline
• Bridgeland
• Kensington
• Inglewood
• Mission
• Eau Claire
• Altadore

• Maximize Your Investment: Partner with One of the Leading Property Rental Companies in Calgary

Rental Market Trends and How to Navigate Them with Property Rental Companies in Calgary 

Investment Surge in Calgary’s Rental Market 

Investment in Calgary’s rental properties nearly doubled in the first half of 2024, spurred by the city’s rapidly growing population and rising rent prices, according to experts.

Significant Commercial Real Estate Investment 

Calgary experienced its third-highest six-month period of commercial real estate investment since 2013, with marked interest in rental properties and industrial land.

Multi-Residential Property Investment Boom 

Calgary witnessed $525 million in multi-residential property investments, representing a 93% increase compared to the previous year. This comes as rental prices begin to stabilize after two years of steep increases.

Recent Trends in Rental Prices 

In July, the average rent in Calgary reached $2,111, marking a 4% annual increase—the lowest in two years. This contrasts sharply with the 18.4% increase from July 2022 to July 2023, which had been one of Canada’s highest rates. 

Rental property management companies in Calgary can assist property owners in adjusting to these fluctuations, ensuring competitive pricing strategies and tenant satisfaction. 

Slight Decrease in Rental Prices 

A recent Rentals.ca report noted a 1% year-over-year drop in Calgary’s average rental price in August 2024, marking the first decline since February 2021. This change follows months of annual increases exceeding 8%. With Calgary property rental services, you can navigate these market adjustments more effectively, as these experts leverage data-driven insights to retain tenants and maintain profitability.

Current Rental Prices by Unit Type 

As of August, the average rent for a studio apartment was less than $1,500, a one-bedroom unit in Calgary was just under $1,800, and a two-bedroom exceeded $2,200.

Engaging with rental property management in Calgary ensures that property owners have access to the latest market data and rental trends, helping them set optimal rental rates that attract tenants.

Tightening Vacancy Rates 

The Canada Mortgage and Housing Corporation (CMHC) reported Calgary’s vacancy rate fell from 2.7% in 2022 to 1.4% in 2023, creating a favourable climate for investors. Concurrently, the city’s population surged nearly 6% over the past year.It’s projected to tighten further to 1.1% in 2024, continuing to set record-low levels.

Property rental companies in Calgary can assist in reducing vacancy times and improving tenant retention through strategic marketing and comprehensive management services.

Supply and Demand Dynamics 

The demand for rental properties in Calgary continues to outstrip supply, even with significant gains in housing starts. Between July 2023 and July 2024, housing starts jumped 52%, far surpassing the national average of 8%.

National Increase in Asking Rents 

Across Canada, asking rents for residential properties rose by 3.3% in August, hitting an average of $2,187.

Calgary property rental services can help align local property strategies with national trends, ensuring that property owners achieve optimal outcomes in rental pricing and lease agreements.

Demand for Rental Assistance 

Over 6,800 individuals were on the Calgary Housing Company’s waitlist for rental assistance last month, highlighting the ongoing need for affordable housing solutions.

By collaborating with rental property management in Calgary, property owners can explore opportunities to contribute to affordable housing while maintaining profitable operations.

What’s the Best Place to Buy Rental Property in Calgary? 

Where oh where, will your next shiny investment be located? 

When considering the best place to buy rental property in Calgary, it’s important to focus on areas that offer a combination of high demand, good amenities, and potential for appreciation. 

Below, you’ll discover some neighbourhoods that are often regarded as attractive for rental property investment. In addition, we’ll also provide a snapshot of the average rental prices in each neighbourhood, which can help guide your investment decisions. 

Note: All figures below are average prices only. For the most current and precise data, checking local listings and consulting with real estate professionals is advisable.

1. Beltline  

• Overview: Known for its vibrant urban lifestyle, Beltline is adjacent to downtown Calgary and offers a mix of residential, commercial, and entertainment venues.
• Attractions: Proximity to amenities, restaurants, shops, and public transit makes it highly desirable for young professionals and renters.

2. Bridgeland 

• Overview: This trendy neighbourhood combines a small-town feel with urban convenience. It has a strong sense of community and offers a mix of new developments and older homes.
• Attractions: Easy access to downtown, boutique shops, cafes, and parks increase its appeal.

3. Kensington 

• Overview: Another area that shines bright as the best place to buy rental property in Calgary is Kensington. Known for its eclectic vibe, this lively community offers a mix of culture, shopping, and dining options.
• Attractions: The area is popular with young professionals and students due to its proximity to the University of Calgary and Southern Alberta Institute of Technology (SAIT). 

4. Inglewood
 

• Overview: As Calgary’s oldest neighbourhood, Inglewood offers a unique character with historic homes and new developments. 
• Attractions: Known for its arts and culture scene, it’s close to downtown and offers plenty of entertainment and dining options.

5. Mission
 

• Overview: A fashionable and historic area, Mission offers riverside living with an array of amenities and services.
• Attractions: Close to the Elbow River, it features parks, pathways, and is just a short commute to downtown.

6. Eau Claire
 

• Overview: Located next to the Bow River, Eau Claire is known for its blend of luxury condos and access to outdoor spaces.
• Attractions: Proximity to Prince’s Island Park, the river pathway, and downtown amenities make it attractive to renters seeking a mix of nature and city life.

7. Altadore
 

• Overview: A family-friendly neighbourhood with a mix of modern infill homes and older properties. With such duality, many people regard it as the best place to buy rental property in Calgary.  
• Attractions: Close to schools, parks, and the Marda Loop shopping district, it’s popular with families and young professionals.

Maximize Your Investment: Partner with One of the Leading Property Rental Companies in Calgary  

As the rental market in Calgary continues to evolve, navigating its complexities can be daunting. That’s where Emerald Management comes in. 

As one of the leading rental property management companies in Calgary, we provide services to help property owners stay ahead of market trends and maximize the profitability of their investments. Our tailored approach to rental property management in Calgary ensures your properties are not just managed, but optimized for success.

Whether it’s setting competitive rental rates, attracting quality tenants, or maintaining your property’s value, Emerald Management has the expertise you can always count on.

Contact us today and let us transform your property into a thriving investment with ease and efficiency. Discover more about our rental management services. 

Read our other blogs for more helpful insights:

• Renting Your Property: How Calgary Property Management Companies Handle It All
• Rental Property Management in Calgary: Expert Tips for Landlords and Tenants
• Why More Landlords are Turning to Property Management Companies in Calgary

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